Recession Makes Training, Retooling Key Survival Tactics for CPAs
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by Rick Telberg
With recessionary pressures bearing down on accounting firms and finance departments, it’s almost understandable that one of the first budget items to get the red pencil treatment is training and education. But I said “almost.â€
In fact, cutting back on continuing professional education (CPE) is probably the singularly worst strategy for CPAs in times like these. In a business based on an evolving body of knowledge and understanding, you can’t take the “learned†out of “learned profession†and still serve competently as a trusted professional.
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In research with Capstone Marketing, we’re finding conclusive evidence that high-performing accounting offices hold life-and-death competitive advantages over organizations that fail to adhere to operational basics like regular, relevant CPE.
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