CPA Practice

APRIL 3, 2023

Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. Technology also gives staff real-time access to their data, from anywhere at any time.

accounting firms 135

accounting firms CPA Technology accountant 135

CPA Practice

JULY 3, 2024

Cybercrime is on the rise, with PwC reporting a 30% higher risk of cybersecurity attacks for financial firms. Additionally, accounting, tax preparation, and bookkeeping firms are navigating a growing staffing shortage. these issues can further exacerbate already overworked accountants.

Technology 128

Technology accounting firms accountant accounted 128

PANALITIX

AUGUST 9, 2020

Rapidly Growing an Accounting Firm: An Interview with Glenn Hetzel. Hetzel & Associates, CPAs spoke frankly and clearly on the many challenges and opportunities related to growing an accounting business. Hetzel & Associates, CPAs. This creates new work for our firms and helps us attract new clients’.

accounting firms 189

accounting firms accountant accounted Account 189

CPA Practice

MARCH 7, 2023

The Uniform Certified Public Accountant Examination (CPA Exam) is regularly updated to reflect enhancements to accounting and auditing standards as well as tax laws and regulations — and to improve the efficiency of the exam. What are the 2024 CPA Exam changes? understanding technology options and associated risks).

Technology 137

Technology CPA cpas audit 137

CPA Practice

APRIL 22, 2024

The race to integrate Artificial Intelligence into the workflow of Certified Public Accountants is no longer a futuristic concept, but a current reality. Large accounting firms have made substantial strides in using AI to augment their services and deliver high quality outcomes.

Technology 124

Technology cpas cpa firm CPA 124

CPA Practice

NOVEMBER 20, 2023

A new study on how accounting professionals feel about their profession, job satisfaction, and automation has found that, while they are overwhelmingly positive about the profession, there is a clear need for more automation.

Technology 128

Technology accountant accounted Account 128

CPA Practice

MARCH 15, 2023

They often focus their efforts to maximize the eventual sales value of the acquired business via a combination of targeted acquisitions of other firms, capital investments, expansion into profitable niches, waste reduction, tech adaptation, streamlining and other measures. What size accounting firms are private equity groups eyeing?

accounting firms 132

accounting firms accountant accounted Account 132

ThomsonReuters

JUNE 16, 2023

Rising client expectations , an ever-changing regulatory environment , and the ongoing war on talent have left many of today’s firms grappling with strained bandwidth. In fact, a 2022 survey by the Virginia Society of CPAs (VSCPA) found that the greatest challenges facing firms are being overworked and understaffed.

accounting firms 98

accounting firms accountant accounted Account 98

CPA Practice

FEBRUARY 23, 2024

Accounting firms and departments face continuous pressure to attract and retain talent due to a persistent shortage of qualified professionals to do the work. However, there is greater room for technology to assist in these efforts. By Stephanie Collins.

Technology 75

Technology cpas CPA public accounting 75

CPA Practice

JUNE 28, 2024

Increased tech skills, the use of artificial intelligence (AI), and surviving the economy dominated the results of the 2024 Intuit QuickBooks Accountant Technology Survey of 700 U.S. accountants. In short, investing in technology is important.

Technology 105

Technology quickbooks bookkeeping Education 105

Ryan Lazanis

JANUARY 23, 2023

It’s my belief that hiring a virtual assistant for CPAs is one of the best choices you can make when scaling your firm. Table of Contents What is a Virtual Assistant for Certified Public Accountants? What Can a Virtual Assistant Do at Your Firm? What Can a Virtual Assistant Do at Your Firm?

cpas 97

cpas cpa firm bookkeeping CPA 97

CPA Practice

DECEMBER 28, 2023

ChatGPT ushered in a new era of automation in accounting (link goes to YouTube), for better or worse. While technology has made many content-based tasks much easier, questions remain about its accuracy and security. This article will better explain how your accounting firm should (and should not) use tools like ChatGPT.

accounting firms 119

accounting firms accountant accounted Account 119

CPA Practice

JUNE 8, 2023

The American Institute of CPAs and Chartered Institute of Management Accountants honored eleven CPAs during AICPA & CIMA ENGAGE 2023 in Las Vegas this week. The awards highlight CPA efforts in a specific accounting specialty area, excellence in volunteer efforts or significant contributions to the accounting profession.

cpas 98

cpas CPA forensic accounting Education 98

CPA Practice

JUNE 8, 2023

Due to the increasing demand for bookkeeping, taxes, compliance, consulting, and audits, especially with more people and businesses in the United States, tax season becomes increasingly difficult for short-staffed firms across the U.S. However, there’s a challenge when it comes to expanding your firm’s existing staff.

Technology 98

Technology Tax cpas accounting firms 98

CPA Practice

JUNE 7, 2024

Growth is often top of mind for accounting firm leaders, but what does sustainable growth actually look like in practice? In this Q&A, I asked Jason Blumer, CPA to discuss firm growth and what firms truly need to be able to scale and succeed. This is a majority of our work when we consult with larger firms.

accounting firms 91

accounting firms accountant accounted Account 91

CPA Practice

SEPTEMBER 11, 2024

By Chris Howard Executive Summary The accounting profession stands at the precipice of transformative change driven by rapid advancements in technology and evolving client expectations. 57% of respondents expect more work to be automated in the next five years, signaling a shift toward increased efficiency and productivity.

accountant 121

accountant accounted Account Technology 121

Going Concern

JANUARY 13, 2025

There is enough data to show most WFH people are not as productive unless they have ownership in the business because quite frankly [link] — Eric Pierre, CPA (@yourfavecpa) January 12, 2025 Venture capitalists are excited about accounting firms according to WSJ : Venture capitalists are known for betting on risky, moonshot technology.

accounting firms 52

accounting firms accountant accounted Account 52

CPA Practice

JULY 17, 2024

Between 1990 and 2021, the number of people sitting for the Certified Public Accountant exam plunged by almost 50 percent , according to the Association of International Certified Professional Accountants. It’s a tougher economy today,” says Ben Richmond, a certified public accountant who manages the U.S.

accountant 124

accountant accounted Account Technology 124

CPA Practice

APRIL 15, 2024

Sangeeta Chhabra CPAs and finance professionals today understand the importance of transparency and collaboration; however, lack of uniformity acts as an obstacle to seamless coherence in data management processes. Barriers to AI adoption in accounting The accounting profession has historically had a culture where data plays a prominent role.

CPA 122

CPA Technology accounting and finance cpas 122

CPA Practice

AUGUST 17, 2023

Over the last year, the hottest topic of discussion among accounting professionals has been about how artificial intelligence will shape professional firms. For a profession as risk averse as accounting, what can we gather from this? About a third said they are not currently using the technology but are exploring it.

accounting firms 98

accounting firms accountant accounted Account 98

Going Concern

FEBRUARY 27, 2023

In Australia, EY is still bungling this one up : EY accidentally leaked the personal details of current and former employees while trying to launch a massive review into the firm’s workplace culture. Yet that is what the IRS deals with every day.” From FloQast : Six in ten (63%) U.K.

Technology 105

Technology accountant accounted Account 105

CPA Practice

MAY 2, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, look at Datamatics , a digital technologies, operations, and experiences company that enables hundreds of global enterprises to go “Deep in Digital” to enhance their productivity and customer experience to create a sustainable competitive advantage.

Technology 105

Technology accountant accounted Account 105

ThomsonReuters

DECEMBER 16, 2024

For small and medium-sized accounting firms, the benefits are substantial: increased revenue, competitive differentiation, and the ability to meet evolving client needs. At the end of the day, converting to advisory services is more than a strategic pivotits an evolution that aligns your firm with future client needs.

cpas 52

cpas Education Technology CPA 52

PYMNTS

AUGUST 27, 2019

The Certified Personal Accountant (CPA) today now has a plethora of FinTech solutions they can use to manage their clients’ money, with the number of digital tools — including cloud accounting portals, cash flow forecasting solutions and intelligent technologies like artificial intelligence (AI) — continuing to rise.

cpas 60

cpas CPA Technology small business accounting 60

Going Concern

OCTOBER 11, 2024

As it’s become increasingly popular for external CPAs and even CFOs to help run a company’s financial operations, the American Institute of CPAs is looking to clarify the standard for how financial statements prepared as part of an external client advisory services engagement are treated. Talent Is your firm hiring?

audit 59

audit Technology Texas accounting firms 59

Going Concern

MARCH 1, 2023

Now thanks to this Bloomberg Tax Opinion piece we find out that the problem is not low salaries nor poor work-life balance nor a distinctive lack of ping pong tables at public accounting firms across the United States. No, it’s that the tech aren’t cool enough. So why is our country facing a shortage of accountants?

Technology 103

Technology accountant accounted Account 103

CPA Practice

SEPTEMBER 23, 2024

The city is a hotbed of professional services, including lawyers, consultants and the now-endangered species of certified public accountants. CPAs are essential for financial reporting, advanced tax preparation and other dull-but-important tasks that keep the economy going.

cpas 59

cpas CPA auditor accounting principles 59

CPA Practice

OCTOBER 12, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the latest trends in generative AI, and their impact on accounting firms. Transcript (Note: There may be typos due to automated transcription errors. And we have a separate Technology Lab on data Snipper. Use the podcast player below to listen.

Technology 111

Technology quickbooks accounting and finance Legal 111

CPA Practice

JANUARY 19, 2024

Accounting Thought Leaders Say CAS Will Become a Must for Firms in 2024 As technology continues to dramatically shape the accounting profession, the latest big conversations have been around AI and automation. Technology’s Role 2. How to Move a Firm Toward CAS 6. Where Technology Fits in CAS 3.

accounting firms 78

accounting firms accountant accounted Account 78

ThomsonReuters

JULY 11, 2023

Accounting firms turn to a three-tiered approach to uncover opportunities Accounting firms are severely impacted by the dynamic post-pandemic economy. Firms are faced with the external challenges of meeting new client demands, increasing compliance pressures, and tax law changes.

Technology 73

Technology accountant accounted Account 73

CPA Practice

SEPTEMBER 6, 2023

From the advent of first-to-market generative AI systems like ChatGPT, to highly specialized, accounting-focused systems, proponents of AI are fervent in their belief that the technologies will dramatically improve client services, firm management, small business accounting and many other areas of operations.

Technology 122

Technology accounting and finance Tax CPA 122

BuildYourFirm

OCTOBER 28, 2020

Technology Oriented Businesses – FAANG stocks (Facebook, Amazon, Apple, Netflix, Google) are red hot and so are the next tier of providers. For that matter, most technology oriented businesses have not suffered like the industries above. Accounting for Cyber Security and Technology. Accounting for Film Production.

Real Estate 130

Real Estate Hospitality Technology Entertainment 130

Going Concern

MAY 20, 2022

For the generations that have provided free technical support to grandparents everywhere since the ’80s and ’90s, it can be difficult to admit that the rapid pace of technological innovation is intimidating at times. There’s no denying things are changing fast. To open your eyes and ears to the possibilities.

Pennsylvania 98

Pennsylvania Technology cpas CPA 98

Snyder

JULY 13, 2022

The accounting industry has undergone some serious technical changes due to technological advancements but first and foremost due to a global pandemic. Accounting firms have been forced to drastically change working environments and the way they work, as well as reconsider the services they provide.

accountant 105

accountant accounted Account Technology 105

Snyder

OCTOBER 18, 2022

As technology has advanced, so have accountants. In this article I’ll review all things automation and how its rise is forever going to change the accounting industry. While many industries have begun to utilize new technology, accountants have struggled to keep up with the changes through no real fault of their own.

Technology 59

Technology bookkeeping quickbooks accounting software 59

CPA Practice

DECEMBER 30, 2023

ChatGPT ushered in a new era of automation in accounting (link goes to YouTube), for better or worse. While technology has made many content-based tasks much easier, questions remain about its accuracy and security. This article will better explain how your accounting firm should (and should not) use tools like ChatGPT.

accounting firms 69

accounting firms accountant accounted Account 69

Ryan Lazanis

AUGUST 2, 2023

In this article, you’re going to get a ton of inspiration plus a whole bunch of tips for picking amazing accounting firm names. Table of Contents How to Choose a CPA Firm Name? Choosing an accounting firm name is all about branding and how you want the outside world to perceive you.

accounting firms 52

accounting firms accountant accounted Account 52