today's features

bailey lenart: from ledger sheets to transformational change | accounting arc

accountants must adapt to new value measures to remain relevant in a rapidly changing world. 

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accounting arc
with byron patrick and donny shimamoto.
center for accounting transformation

accountants are often seen as guardians of financial records, working behind spreadsheets to balance books and ensure compliance. but bailey lenart, an entrepreneur based in new zealand, is breaking that mold. as the founder of world changing business and collective flow, lenart is redefining what it means to be an accountant by focusing on non-financial metrics—such as carbon emissions and biodiversity loss. 

more accounting arc: leadership for the future: stakeholders, sustainability, and strategic visionin-person conferences still essential | non-accountants in accounting: a game-changer for the professionrubik yeriazarian: smaller firms offer big opportunities for rapid skill development in forensic accounting | accounting arc | ai will steal your job. and that’s a good thing | accounting arc | the right kind of lazy: innovative approaches to streamlining workflows | accounting arc

in a conversation with donny shimamoto, cpa.citp, cgma, on the accounting arc podcast, lenart recounts her transformation from a conventional accountant to a trailblazer in esg (environmental, social, and governance) accounting. “i realized early in my career that i wanted to do more than just prepare financial statements,” she shared. “i wanted to make a real impact, and that led me to look beyond numbers.” 
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as private equity closes in, firms seek new answers to staffing problems

smart leaders are investing in tech, talent and orderly retirement timing.

by jennifer wilson
the rosenberg national survey of cpa firm statistics

we’ll see positive movement in staffing with more firms investing in outsourcing, offshoring, non-accounting staff added to work streams, increasing starting salaries, providing more support on campus to students and candidates, and other pipeline initiatives. the pace of consolidation and private equity investment will only accelerate, changing the face of the top 100, with firms separating their audit practices .

editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:

    • how do you think the next 12 months will unfold? trends? predictions? other thoughts?
    • how would you assess the last 12 months? trends? observations? struggles?

more: when staffing falls short, clients get culled | how accounting firms are dealing with retirement | next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
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pe investors will have their hands full, trying to manage by the numbers, and drive change with traditionally change-averse, entrepreneurial partners who didn’t sign up originally to submit to a boss. and i fear that pe firms are overpaying for their equity stakes (and driving firm prices up for acquirers) and that realization will begin to dawn on some of them who realize there might not be a flip in sight.
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competence is just the beginning

where are you headed? answer these questions about your ambitions and finances.

by martin bissett
passport to partnership

staffers aspiring to be partners must learn the key characteristics of successful partners. they also must learn how to develop their own personal plans to achieve partnership. firms and staffers alike need a clear set of procedures, processes and milestones for turning top talent into the next generation of firm leadership.

more: what rich accountants do | attract clients, don’t sell to them | think of it as service, not selling | eight questions that target personal accountability | are you projecting confidence? | does client perception match your firm’s reality? | firm not thriving? five fixes | five questions for grading prospects | health, wealth, stealth: challenges on the path to partnership | don’t let recurring fees kill your practice | rate your personal purpose | five ways to make selling easier
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

there are seven critically important criteria by which partners assess partners-to-be. i call them:

the seven c’s

1. the first is competence. as a prerequisite, but only a prerequisite, accountants must master their technical abilities and qualifications, whether it be audit, tax or management accounting. whatever your area of specialty, as a staffer the partners expect you to be able to know at least as much as anyone else who may report to you.
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gates foundation, uk fund biotech grant for ag breakthrough

innovative technologies that facilitate crop growth while reducing dependency on chemical fertilizers have become increasingly crucial.

by rick richardson

august saw the gates foundation and the foreign, commonwealth and development office of the united kingdom grant a $2.83 million grant to the british biotech business legume technology. agfundernews reports that the company intends to use the additional cash to provide farmers in africa with a cost-effective and safe way to enhance crop health and soil fertility.

more tech this week: microsoft refreshes copilot with wave 2 | thomson reuters brings al to audit solutions | new in-flight earbud adapter ideal for travelers | new tech turns bombed-out rubble into blocks for new homes | discovery in california could power 375 million electric vehicles | lexar ssd expands storage for pro-level video | five new google maps and waze features | new warehouse robot could revolutionize efficiency | new pacemaker powered by light, no batteries | microsoft patents an encryption system to block visual hacking | recently discovered antibiotic spares ‘good’ bacteria
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africa’s total soil fertility has declined over time, mostly because of excessive chemical fertilizer use, which has accelerated acidification.

legume technology has spent the last 20 years building bacterial and fungal microbial biofertilizers to fight that issue. these biofertilizers essentially create natural alternatives to chemical fertilizers by capturing nitrogen from the air and keeping it in the soil for the crops to absorb.

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terrell turner: build a solid business showing up as yourself | the disruptors

your clients may need a great deal of empathy and not just tactical advice. plus 13 key takeaways.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is always available exclusively to pro members | go pro here

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the disruptors
with liz farr

terrell turner started his “journey of doing things differently” on april 1, 2020, during the pandemic. while “2020 was the reset button for everyone,” that reset offered turner a tremendous opportunity to create a new kind of firm. “we don’t have any history in doing this,” turner recalls thinking. “so how would we do this in this new environment that we’re in?”

more disruptors | more 卡塔尔世界杯常规比赛时间 podcasts and videos: 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 |

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his path to founding a firm was unusual – from public accounting to industry and back to public accounting. he credits his time in industry with providing a “really solid foundation” in connecting processes with the impact on the financial statements. “i think being able to connect those dots is something i would have never been able to do had i not worked in industry for some time,” turner says.

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