today's features

know your three audit w’s

understanding all the nuances of the who, what, and when keeps your audit team on track. 

by alan anderson, cpa
transforming audit for the future

taking the time to lay out a detailed who, what, and when plan for all audit staff assigned to an engagement will help ensure that fieldwork is successfully completed. as firms had to develop remote auditing processes in the covid-19 era, many have already been deploying this.

more: planning lays the foundation of audit relevance | how do we drive relevance in audit? | before the audit: more than just planning | are you correctly identifying the relevance intersection? | lack of relevance drives audit commoditization | five crucial attributes for successful audit leadership | traditional audits don’t deserve premium billing | four basic understandings every auditor must master
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here are the details for understanding each of the three audit w’s to keep your audit process streamlined:

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are you throwing away profits?

$50 bills in a wastebasket

nine things to stop doing today.

by sandi leyva
the complete guide to marketing for tax & accounting firms

a critical measure for accountants – whether they bill either by the hour or a fixed price – is the amount they bill clients each month. as anxious as many accountants are to raise their revenues, their daily activity often sabotages that goal with the same common billing mistakes.

more: want to close a deal? set a deadline | how mindset affects your marketing | how to use chatgpt to create images | how to leverage chatgpt during this crazy tax season | got fomo when it comes to ai and chatgpt? you should: here’s what you’re missing | eight steps to getting started with ai: a guide for tax professionals | how to weather any economic storm | leverage your strengths to beat stress | you don’t have a time problem | are you crossing off your business bucket list? | three money leaks and how to plug them
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here’s a checklist so you can compare your behavior with the list. i’ll give some tips on how to break the bad habit, and the rest will be up to you.

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accounting arc: busting the big 4 myth

the realities and opportunities beyond big 4 firms.

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accounting arc 
with donny shimamoto, liz mason, and byron patrick
center for accounting transformation

the latest episode of accounting arc, “busting the big 4 myth,” offers various perspectives on careers in accounting. 

more: harper & co. cpas: the perspective of a non-accountant is imperativemenlo innovations: improve office culture by overhauling internal reviews | dustin wheeler: for serious cas success, hire tech teams | chase birky: overcoming paralysis by analysis |

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hosts donny shimamoto, cpa, citp, cgma; byron patrick, cpa, citp, cgma; and liz mason, cpa, share their unique experiences, challenging the notion that success in accounting is synonymous with working for one of the big four firms. 

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understand the 10 steps of the buying process

two men looking at computer screen

how to become a solution magician.

by august j. aquila
price it right: how to value accounting services

closing a business opportunity refers to the process of finalizing and securing an agreement with a prospective client. it involves bringing the negotiation or sales process to a successful conclusion and solidifying the commitment from both parties involved. the closing stage is critical because it marks the point where the decision to move forward with the opportunity is made, and the terms and conditions are agreed upon.

more: market technology services through workshops and training | service quality: the key to client retention | how life cycle changes your marketing | clients buy solutions, not features | make sure you know what you will get from your marketing | three pillars support a successful accounting firm | clients have six reasons for needing you | six ways to market your technology consulting practice
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closing an engagement requires that you not only understand the selling cycle, but also the buying process that clients and prospects go through every time they are deciding to purchase something from you or from someone else. if you want to close more new engagements, it’s important for you to fully understand this.
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accounting needs a ‘rethink’ not a ‘rebrand’

two women talking while seated at a table

your value is in the knowledge you have and the relationships and trust you’ve built.

by seth fineberg
at large

the field of accounting, and being an accountant, is challenged on many sides – none more so than the very act of being an accountant. in short, given the demand for new services and the growth in automation for nearly all “tasks,” what does accounting or being an accountant mean anymore?

more: big change comes with deep reflection | three ways to raise the bar for your business | randy crabtree: stress management for overworked accountants | tax chat: eric green reveals the tax rep guide to tax season  | it’s time to do the uncomfortable  | three ways to improve next tax season  | meet basis, the new ai bookkeeper on the block | is this when accountants start taking freshbooks seriously?
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let’s be clear: accounting’s literal and metaphorical face is, and needs to be, changing if it is to grow and thrive. this, however, isn’t necessarily a bad thing. but, as we well know, change is not easy or quick. what should encourage accounting professionals is that at this very moment in time, they have the ability to have a say in what accounting, and being an accountant, actually is and could be.
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