today's features

bill gates behind next-generation nuclear plant

the new plant could be in operation as early as 2029. 

by rick richardson
technology this week

even by wyoming standards, kemmerer is far away – it’s a 50-mile diversion from interstate 80.

more: your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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it draws tourists who stop by to look for local fossils, even though its elevation is higher than its population. however, different types of fossils, or fossil fuels, produce the best jobs. three power plants are powered by a coal mine and gas wells, which together employ around 450 people. however, kemmerer officials see the writing on the wall with the declining use of fossil fuel and all the efforts to migrate to cleaner energy.
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what earnings mean for a business valuation

why ebitda falls short.

by ed mendlowitz
77 ways to wow!

earnings are not always objective, and valuations apply a multiple to earnings to determine a company’s value. the elements making up a company’s valuation involve determining normalized earnings, a decision whether income taxes would be applied, and the capitalization rate to be used to get the value. there are also other factors, but this post looks at the quality of earnings.

more: use organization charts to rewrite the future | what clients don’t know about cost variances | how to advise clients on allocating business resources | be wary of discounting prices | where is your firm in its lifecycle? | six kinds of loan covenants | what’s more profitable, raising or lowering prices? | insurance you might not know you need
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it is always about the earnings – except when it isn’t. there are some situations where a company could be acquired based upon strategic, synergistic or ego considerations, but otherwise, valuation all boils down to a dependence on earnings and the quality of such earnings.
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why the ultrawealthy favor family offices

businesswoman smiling at two clients, man and woman

six benefits they offer.

by russ alan prince and anthony glomski
your $5-million high-net-worth practice

in many ways, the accounting industry is under pressure from fee compression and seriously increasing competition. the current crisis is exacerbating the problems some accounting firms are having.

more: three steps to thought leadership | referrals best for gaining wealthy clients | family offices come in three types | how everyone can win | nurture referrals from wealthy clients | four steps to a high-net-worth practice | why tax planning matters so much to the wealthy
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at the same time, certain types of clients and sets of services prove to be extremely profitable for accounting firms. one such type of client is the ultrawealthy. furthermore, a potentially highly profitable segment of the ultrawealthy is those with single-family offices.
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heather satterley: you’ve got to meet people where they are

stop saying yes to everything and start saying yes to yourself.

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see the disruptors

the disruptors
with liz farr

heather satterley is well-known for being an accounting tech expert. but tech isn’t the only skill accountants need today and for the future. “you can have great technology skills, but if you don’t have people skills and those softer skills, that’s going to be a problem,” she said.   

more podcasts and videos: bill 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 | jody padar: build a practice that works for you, not vice-versa | ira rosenbloom: with m&a, nobody wants a fixer-upper | peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right pricesmarie green: your bad apples are ruining youmegan genest tarnow: hire for curiosity rather than complianceclayton oates: one way to keep clients for liferandy crabtree: follow these three rules to keep employees happyerik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshiftjennifer wilson: empower young workers to build the firm everyone lovesmike whitmire: re-think your hiring and training practiceshector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be freeprivate equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinsonwhen financial statements go extinct with corey schmidtcan geraldine carter save accountants from themselves?re-inventing accounting with tyler anderson

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one of those softer skills that will be a key skill for the future is problem-solving, which requires keeping an open mind to “look at not just facts and figures, but look at tools, resources, people and pull them all together,” she explained. no one can be an expert at everything, so having “a wide network of really awesome professionals” is vital for filling in any gaps “to get the job done.”  

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cas reports are better. here’s how.

traditional reports stop short of what businesses need.

by hitendra patil
client accounting services: the definitive success guide

if you are wondering whether client accounting services (cas) needs a different set of reports, you are in the right place. at the same time, it may be confusing how you can produce reports that are different than those your software provides out of the box.

more: help your clients run their businesses better | set your processes apart in nine steps | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value | ten ways to tell a client is ready for cas | launch cas in just eight steps
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cas is about the outcomes of your work, from the clients’ perspective. cas outcomes are useful, insightful, and advise clients in ways that routine, traditional reports cannot deliver. the outcomes you provide from your cas offering need to relentlessly focus on the relevance, usability and importance from your clients’ point of view. one of my ex-clients, an experienced and expert cpa from san diego – who had mostly high-net-worth individuals with multiple businesses as his clients – told me, “after 19 years in practice, i realized that small to medium business entrepreneurs are not really concerned with managing their balance sheets. it is the job of the accountant.”
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