today's features

educators can benefit from new generative ai course

a teacher’s aide unlike any other?

by rick richardson
technology this week

many people focus on the potential benefits of generative ai for kids when considering its application in the classroom. still, teachers can gain as much, if not more, from the technology. google and mit responsible ai for social empowerment and education (raise) have launched a free google generative ai educators course to assist middle and high school educators in utilizing generative ai tools to improve their workflow and their students’ learning environment.

more: could mobile phones be next on the extinction list?ai named the highest-paying in-demand tech skill for 2024 | ai generates revolutionary new battery design | breakthrough implant uses excess blood sugar to generate electricity | nuclear battery could keep your future phone running for 50 years | mit tests new ingestible vital signs sensor | study: solar will lead global energy by 2050 | new tech could let evs go 3,000 miles on a single charge | ai + mri = diseases that doctors might miss | your boarding pass could onboard hackers | the first police officer on the scene might be a drone
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the self-paced, two-hour course is designed to help educators leverage generative ai to save time on routine tasks. from email composing to adapting content for various reading levels, creating innovative evaluations and organizing activities around students’ interests, generative ai can streamline these processes, freeing up valuable time for educators.

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how do we drive relevance in audit?

the insights you deliver don’t just add value to the client but also result in a better audit. 

by alan anderson, cpa
transforming audit for the future

business owners and organizations typically regard the annual audit as a cost or “a necessary evil” that adds little or no value to the business. in contrast, auditors routinely say that their audit is different and absolutely does add value to the company or organization. to be sure, all audits have a purpose, as they are generally required to maintain financing or to meet regulatory requirements. but is the auditor genuinely adding value?

more: 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 | put the ethics code to work for your clients and your firm | turning audit & accounting into assurance & advisory | wanted: great audit mentors | is audit in crisis because of definitions? | stop sending the wrong message to audit teams | closing the audit expectations gap
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there are numerous dictionary definitions of “value,” all centering around the concept of something being useful. “adding value” should then mean making something more useful.  when you plan an audit, are you thinking of ways to make the audit more for your client? you will only convince your clients that you deliver value when you back up your words with action.

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how life cycle changes your marketing

illustration of business life cycle

startups have different needs than mature businesses, so the messaging must be different.

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

the business life cycle refers to the stages that a business goes through from its inception to its eventual closure or exit. each stage presents unique challenges and opportunities, and it is essential for accounting firms to adapt their marketing strategies accordingly.

more: eleven possible pitfalls of mergers | dodge the four curses of a production orientation | client acquisition never stops | ‘sales’ is not a four-letter word | maybe what you need is a marketing audit | three types of marketing message, and which is best | why you need progress billing | five tips for cross-selling and upselling | five keys to successful marketing | twelve fundamentals of planning | one question to guide your growth plans | four ways to prepare for new business development
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here are some marketing strategies that can be effective during different stages of the business life cycle. take a fresh look at your existing clients, and sort them according to their business life cycle: startup stage, growth stage, mature stage and transitional/decline. you want to make sure that as your clients go through these different cycles, your marketing messages and services change and address the right business concern.
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unraveling the collapse of silicon valley bank | accounting arc

delving into financial disarray and what contributes to the shutdown of community banking institutions

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

in the labyrinth of financial intricacies, the collapse of a bank sends shockwaves through the economic landscape, leaving stakeholders scrambling for answers. in this episode, “accounting arc: unraveling the collapse of silicon valley bank” dissects the demise of silicon valley bank to unravel the intricate web of factors that precipitated its downfall.

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 |

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

hosted by seasoned financial experts, this accounting arc episode, featuring terry sherrill, cpa, a managing director with tps thayer in sugar land, texas, dives deep into the underlying causes of bank collapses while offering invaluable insights for cpas, auditors, and financial professionals to fortify against such catastrophes.

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three steps to becoming a millionaire

dump “nonprofit” tasks and focus on the high-value ones.

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

let’s do the math. to earn a million dollars in a year, you have to bring in $83,333 per month. assuming you bill hourly and work for the standard 1,000 billable hours per year, you need to charge $1,000 per hour. if you want to make $5 million in one year, you will need to charge $5,000 per hour.

more: five business development mistakes to avoid | twelve ways your business card can hurt you | got fomo when it comes to ai and chatgpt? you should: here’s what you’re missing | how to weather any economic storm | ten ways to have more energy this tax season | seven steps to keeping your clients forever | give to receive, and eight more ways to boost sales | five things that clients don’t know about accountants | five ways to wow your clients | how to fight feeling overwhelmed | you’re missing 60% of your revenue | make the most of cpe conferences
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

here’s some breaking news: you won’t get there doing tasks that are worth $10 per hour. even if we drop a zero and aim for six figures in a year, you won’t get there doing $10-per-hour tasks either. at six figures, you’re worth $100 per hour.

the difference between poor people and rich people is simple: one values the scarcity of their time and uses every minute wisely, and the other doesn’t.
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bissett bullet: your greatest successes

today’s bissett bullet: “the most powerful marketing weapon you have in the fight against the competition is the stories of clients you’ve helped in the past.”

by martin bissett

client success stories are one of the best ways to interest potential future clients. are yours clearly documented as a part of your marketing literature? if not, why not?

today’s to-do:

reflect on some of the best outcomes you’ve achieved for your clients. what service did you deliver? what was the outcome and what savings were created for the client? write this into a case study to share with potential future clients.

see more bissett bullets here

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why pricing is so disruptive

kick familiar to the curb and get paid what you’re worth.

by jody padar
radical pricing  – by the radical cpa

the familiar is always more comfortable than something new. shifting your pricing model is bound to be disruptive because the billable hour is what we know and have always known. it is the default billing model of every new firm. it’s comfortable, familiar, embedded in our dna and seems like the easiest billing solution.

more: the radical pricing model: start with $25k | three critical factors drive the value pricing trendaccounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist | advisory work must be priced by value, not hours
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certainly, there are some pros to billing by the hour. profits remain relatively stable. if you work 40 hours, you know you’re going to bill and hopefully be paid for those 40 hours. there’s a clarity and certainty to it. but there are only so many hours in a week. by embracing the billable hour, you’re putting a profit ceiling on your firm.

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s corp clients beware

“reasonable comp” audits are coming.

by eric green
tax rep network

“the irs never audits reasonable comp, so don’t worry about it.”

have you ever heard this phrase? well, when it comes to irs priorities and increasing enforcement, s corporations and their owners will find themselves in the crosshairs of the irs.

more in tax: eight steps to getting started with ai: a guide for tax professionals | what’s your value to your tax clients? | are you excited about tax season? | what the corporate transparency act means for accountants | train now before it costs you down the road | surge pricing: what works for uber could work for cpa firms | uncooperative partner might not be the problem | it’s time to fix the problem of qtips and llcs

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in 2020, the u.s. treasury inspector general for tax administration (tigta) reported more than 10 million non-filers, many of them high-income earners. then, in 2021, a tigta report told the irs to begin cracking down on s corporation owners who take little to no compensation to avoid employment taxes effectively.

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stop operating from a scarcity mentality

coins and small bills in a plastic box

ten questions for reconsidering your prices.

by martin bissett
business development on a budget

undercharging – or lowballing as it’s also called – is the scourge of the profession. it has always been present, and unfortunately, it will probably be with us for the foreseeable future.

undercharging is directly related to fear – fear of rejection.

more: firm not thriving? five fixes | five questions about facing challenges | be clear about your roi proposition | it’s time to prepare the next generation | who are you more committed to, your firm or your clients? | nine checkpoints before every prospect meeting | three questions about conversion | six keys to turning prospects into clients | don’t overlook internal communication
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when you are building your pipeline according to the process, you have assigned fees you think might be in the ballpark of what you believe you could get from a new piece of work or a new client. you may tend to estimate on the low side, which is not a bad idea in theory, because it lets you be pleasantly surprised when it’s anything beyond that.

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tax pros close season handling 53% of e-filings

data table

the mark has been steady for three years now.

by beth bellor
卡塔尔世界杯常规比赛时间 research

april 15 has come and gone. finally, tax season is over!

hahaha! sure, it’s true for the 140 million+ represented on the returns filed so far, but it doesn’t speak to their neighbors who aren’t quite there yet. you know, the ones you filed extensions for.

more: tax refunds up about 4% | tax pros own 53% of e-filings | tax stats still playing catchup | tax pros take the edge in e-filings | tax pros gain ground, and diyers maintain lead | tax pros handle 46.4% of e-filing | tax refunds, tax pro market share trending up | refunds up as tax pros tackle 41.5% of e-filings | tax pros handle 37.7% of e-filings | tax pros file 33% of early returns
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still, it’s a national touchpoint, so let’s take a peek at the data the irs just released for april 19, just after the deadline.
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could mobile phones be next on the extinction list?

image: rabbit tech

it’s not technically a phone, but it does almost everything a phone can … and some things a phone can’t.

by rick richardson
technology this week

rabbit is a startup that stunned the world in early january with its surprising ai hardware announcement. the rabbit r1 is a device similar to a smartphone, but it runs a different ai experience compared to what you know from chatgpt, copilot, gemini, claude and other chatbots.

more: ai named the highest-paying in-demand tech skill for 2024 | ai generates revolutionary new battery design | breakthrough implant uses excess blood sugar to generate electricity | nuclear battery could keep your future phone running for 50 years | mit tests new ingestible vital signs sensor | study: solar will lead global energy by 2050 | new tech could let evs go 3,000 miles on a single charge | ai + mri = diseases that doctors might miss | your boarding pass could onboard hackers | the first police officer on the scene might be a drone
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

the rabbit r1 will handle chats like chatgpt, sure. however, its primary selling point is a different type of ai experience. the r1 features a unique large action model (lam) that lets it interact with apps for you.

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