Live from the Thomson Reuters User Conference
Greg Lafollette reports new survey data from Thomson that shows four in 10 firms suffered revenue declnes last year.
The average accounting firm’s revenues grew 1.2%. But the growth was uneven:
When “high performing” is defined as a 3% gain, that’s a tough economy.
via The Tech Gap.
78% see no recovery for two years.
via TD Bank
Sixty-nine percent of chief financial officers and other corporate finance managers at mid-sized businesses say that it’s the intense challenge of managing cash flow that worries them the most, according to a survey conducted by TD Bank. Proper capital allocation and cash flow management will also be next year’s top financial management priorities for 41 percent of respondents.
How to take control of your job, help your firm and thrive in adversity.
Steve Erickson
In “The Five Big Trends Pinching CPA Profits,” Steve Erickson explains how “The Great Recession” is hurting clients, while both reducing revenues for firms and raising costs. Here, he lists six strategies for professional success.
Steve Erickson
www.SteveEricksonLLC.com
The good news from “The Great Recession” is that there will be an ever increasing need for certified public accountants in the future.
As the economy picks up there should be many opportunities for growth. There are many ways you can assist your firm during this time of change and uncertainty.
Popular CCH titles now available on desktop, laptop, iPads, phones.
via CCH
The most popular CCH books that tax and accounting professionals rely on for answers, guidance and insight are now easier than ever to access and read with CCH’s new eBooks. The perfect complement to the same titles in print, CCH eBooks add new levels of convenience, mobility and productivity for professionals – whether at the office, or on the train. CCH, a Wolters Kluwer business, is a global leading provider of tax, accounting and audit information, software and services. More info at CCHGroup.com/eBooks.
Re-learning the basics of biz dev.
Bob Lewis
In today’s uncertain economy, it seems that CPA firms must be especially agile and adaptable to survive. They must be real “learning organizations.” But what are the characteristics of an agile, adaptable, quick-learning CPA firm? And how do you get that way?
We’ve been asking experts throughout the profession, and here’s one answer.
Bob Lewis
Visionary Marketing / PMB Helin Donovan
Here’s what I see as a their path to a “learning organization” that is occurring in many firms today.
One of the main problems CPA firms are encountering is revenue reductions. Factoring out mergers or acquisitions from the calculations, a large number of firms are flat or have experienced negative growth for the first time in a long time, if not ever.
Okay, maybe just a chuckle and the occasional groan?
We’ve done our best to compile all the (mostly) decent jokes we can find about accountants. (Some are even funny!)
Now available in the Bay Street Group Store
Click here to buy the instant download
Click to Buy the Instant Download (PDF, 15 pages)
Have you heard the one about…
All in the downloadable e-book, free from CPA Trendlines. Get yours today. Share it with friends. Be the life of the party! (Or not.)
ADD-A-JOKE: Click here to add your best (worst?) accountant’s joke to Comments.
Remember when it used to be about a staff shortage?
John R. Ezell
But when we asked John R. Ezell, the veteran accounting firm mergers and acquisitions broker, about key trends for local firms, this is what he said:
John R. Ezell, CPA
ProHorizons Network, Inc
There is still a lot of uncertainty in the economy right now.
Access to clients is the number one driver behind most of the merger and acquisition activity we are seeing. A broader client base means greater client diversity which translates to more stability for an accounting firm.
