bissett bullet: a desire to serve
today’s bissett bullet: “become known for having an altruistic attitude. demonstrate your desire to serve first and worry about your remuneration second.”
by martin bissett
today's features
top 10 red flags to watch for in accounting offices | arc
outdated technology, unrealistic billable hours, and “unlimited pto” among key issues discussed.
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accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation
the accounting profession is undergoing significant change, and workplace culture is at the forefront of that transformation. in a recent episode of accounting arc, industry leaders donny shimamoto, cpa.citp, cgma; byron patrick, cpa.citp, cgma; and liz mason, cpa, explore the red flags professionals should watch for in accounting firms.
more accounting arc: jeremy dubow: private equity as a catalyst for growth | break the burnout cycle in accounting | accounting in transition: 2024 reflections & the road ahead | ron baker: visions for the accounting profession | angie grissom: next gen inspo for accountants | does accounting belong in stem? | rose wang: where numbers meet strategy and creativity | tiktok fraud exposes gaps in financial literacy | how accounting pros own the stage in public speaking | greg kyte: being a cpa is like being the marie kondo of numbers | rachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change | election tax plans: what cpas need to know |
“a firm that isn’t leveraging modern technology is a huge warning sign,” says mason, ceo of high rock accounting. she and the other panelists agreed that firms clinging to outdated systems often fail to create efficient work environments. “automated hr processes should be a baseline by now,” adds shimamoto, founder and managing director of intraprisetechknowlogies llc and founder and inspiration architect for the center for accounting transformation.
show us the money! accountants are making more
want to retain employees? here’s one way.
by beth bellor
more money. that’s what the latest data show for the accounting profession.
the final jobs report of 2024 saw the accounting profession’s numbers slip a bit, but the bodies in those seats were pulling down record earnings. employees in the profession overall, at cpa firms and non-staff in payroll services saw their highest hourly wages ever.
more: survey says 57% of firms are raising prices next year | how accounting firms are handling the staff shortage | more big firms shut their doors to new college grads | seven enticements to keep talent on board | despite staffing crunch, firms freeze pay raises
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and about time! we heard the call for better compensation in the most recent rosenberg national survey of cpa firm statistics.
read more →
every tax reviewer should be able to answer these ten questions
yes, we included the answers … just in case.
by ed mendlowitz
tax season opportunity guide
the primary people who should review tax returns are trained tax department reviewers. however, often the bunching and compression of work shifts some of the review to higher level, non-tax personnel such as audit managers and partners who might not necessarily have the comprehensive training, background and experience to handle everything that might come up during the tax preparation process.
more: taxpayer advocate sees big improvements at irs | ask tax clients the right questions | major changes to circular 230: implications for tax professionals | cornerstone report | art werner: due diligence and irs enforcement | quick tax tip | make ‘done but’ tax returns a thing of the past | six methods for getting paid faster this tax season | use humor to get tax documents in early | art werner: busy season predictions | four steps could close the tax gap | art werner: how to turn tax prep into tax advisory | art werner: navigating business structure decisions amid tax law changes | tax season memo from staff to managing partner | is the irs adequately tracking corporate tax evasion? | irs still unsure how to measure audit rate
exclusively for pro members. log in here or 2022世界杯足球排名 today.
additionally, in many firms, almost everyone on the staff prepares some returns. that lack of dedicated preparers with the trained skills places an added burden on the tax reviewers, making it important for them to have the range of experience needed to perform the review.
following are 10 questions reviewers should be able to answer to qualify for their role.
beth whitworth: focus on outcomes not hours | the disruptors
stop wearing your hours worked as a badge of honor.
this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
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the disruptors
with liz farr
a few months ago, beth whitworth emailed her remaining legacy 1040 clients, informing them that they would have to move over to the subscription-based model she’s been implementing over the last few years. “i will say it’s scary,” she says. “and when i pushed the button and then sent the email, i was like, ‘oh, what’d i do?” but she quickly realized that she was doing the right thing. “this is where we need to move to.”
more podcasts and videos: mike sylvester: learn to say no | salim omar: identify your client’s $100,000 problem | jackie meyer: earn more with fewer clients | jack fleherty: don’t be a ‘yes’ person | greg adams: from finance to storytelling | the disruptors | jody padar: make radical changes now if you want to be relevant in 2030 | rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationships | mike maksymiw: be the leader you wish you had | terrell turner: build a solid business showing up as yourself | kelly mann: be the bull in the china shop | alicia katz pollock: create a human-centric business | nancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial |
instead of continuing to accommodate the clients who were resistant to using technology, who wanted to continue dropping off documents, and who no longer fit her business model, she decided that “it would be okay if none of them stayed.” while she did get some pushback for the increase in fees that would accompany a higher level of service, she did get some who happily responded, “sign me up!”