today's features

ingrid edstrom: true wealth is not financial | the disruptors

work-life balance means integrating work and life so that the work we choose to do expresses who we want to be in the world.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members. 
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the disruptors
with liz farr

ingrid edstrom wants accounting to be not just a more sustainable profession but one that’s regenerative. “this idea of sustainability is really operating from the idea that things can continue to perpetuate as they are,” she explains. a firm may be financially sustainable, “but at what cost to our families, to our personal health?”

more podcasts and videos: caleb jenkins: firm growth requires owners to shift roles | chris hervochon: be the leader you want to work for | ira rosenbloom: don’t merge for the moneyadam lean: get out of the accountant’s trapgeraldine carter: charging more is better for your clientsvimal bava: when working smarter, not harder, is the only option | dawn brolin says grow your firm by shrinking itjason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill morekaren reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusionbill penczak: stop forcing smart people to do stupid worksandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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the regenerative approach recognizes “that we’ve already passed a threshold of harm that needs to be healed,” edstrom says. “regenerative accounting is starting to reframe those ideas around ‘what does it look like to go about business in a different way that is truly life-supporting for all peoples and our planet, rather than being extractive of our planet and exploitative of our peoples?'”

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four reasons accountants struggle with selling

businessman with head in hands

reframe your thinking.

by martin bissett
business development on a budget

let’s take a look at the last 20-plus years of my experience and my research as to where new clients come from in an accounting practice. i don’t think there are going to be too many shocks here.

more: think of it as service, not selling | eight questions for personal preparation | how to prepare for partnership | stop waiting for business to come to you | are you projecting confidence? | do you deliver on your website’s promises? | showing leadership through customer service | firm not thriving? five fixes | the real math behind the sales pipeline | five questions for grading prospects | be clear about your roi proposition | don’t let recurring fees kill your practice | two steps toward mastering selling | nine checkpoints before every prospect meeting
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what i’ve found is that 82 percent of all new clients in a given year who come into an accounting firm come in from a referral source. this may be a bank or a lawyer or some other source, perhaps an existing client, who has recommended that a particular business meet with your firm and come on board as a client.
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new warehouse robot could revolutionize efficiency

mytra’s innovative system lessens the need for forklifts, maximizes storage space and automates heavy-lifting tasks.

by rick richardson
technology this week

the warehouses of the world are surprisingly empty spaces. there’s a lot of material in these vital nodes of the complex global commodities of our transportation system, but there’s also a lot of vacant space on the floor between their racks. the space is there to make room for the forklift, the workhorse of the warehouse, which must have room to maneuver when lifting and carrying pallets loaded with hundreds or thousands of pounds of merchandise. a forklift needs plenty of space and a professional driver to do a mundane but dangerous task.

more: new pacemaker powered by light, no batteries | microsoft patents an encryption system to block visual hacking | recently discovered antibiotic spares ’good’ bacteria | is nasa about to make air travel cheaper?startup creates legolike brick that can store air pollutionai displacing more jobs in banking than other sectors | your brain can store 10 times more than anyone thoughthow many ev charging stations will we need?google launches new private space featuremicrosoft discovers a security flaw impacting android apps | what is an ai pc, and should i get one?fool’s gold may not be so foolish nowai-engineered enzyme could be solution to plastic pollution
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a new robotics firm recognizes an improved approach to warehouse management. mytra, a company created by former employees of tesla and rivian, wants to automate and combine warehouse activities by using a robot and a storage rack system to improve the efficiency of product movement. this could also make the forklift obsolete.

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artificial intelligence: it’s a matter of time

bar chart

what are you saving it for?

by 卡塔尔世界杯常规比赛时间 research

what is artificial intelligence good for? we still don’t know. we know it’s going to be good for a lot, but so far, we’re using it only for a little – just a taste of what’s to come.

more: ai will steal your job. and that’s a good thing | allan koltin: how small firms can thrive against pe-powered competitors | the power of community in accounting | desperate cfos are outsourcing accounting functions | does firm culture still matter? | tax and accounting jobs and salaries show strength | tax law is driving practice development | olympics of outsourcing and offshoring for accountants | new study: strong and steady growth for accountant jobs and salaries | turnover timebomb: 4 of 5 senior managers at risk
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one major impact will be on that elusive infinite, time.

for one thing, ai’s going to save a lot of time. tasks that used to take hours or days will soon take mere seconds.

but is that a good thing or a bad thing?
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eleven types of audit clients and which to fire

bad clients can bring turmoil by increasing the likelihood of regulatory scrutiny, legal troubles and reputational damage.

by alan anderson, cpa
transforming audit for the future

in the realm of auditing, client selection is a critical decision that can significantly impact the health and harmony of your team and your firm. auditors should be highly selective about their clients because engaging with entities that lack ethical standards, have complex or opaque financial practices, or demonstrate a history of compliance issues can lead to substantial risks and challenges.

more: don’t risk losing good employees for bad clients | can a service center model solve audit staffing shortages? | move to advisory and assurance with relevance | use eight audit exit items to deepen client relationships | know your three audit w’s | planning lays the foundation of audit relevance | are you correctly identifying the relevance intersection? | traditional audits don’t deserve premium billing

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when we discuss the types of clients that our teams find challenging to work with, we can divide them into these categories:

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