STRESS-0-METER 2008: CURRENT UPDATE
The 2008 busy season gets off to a smooth start, according to our practitioners panel.
In the runup to season opening, only about 1 in 6 accountants say they are extremely stressed. And the forecasts split three ways — with roughly equal numbers predicting a better season, a worse one, or about the same. Most accountants forecast, as well, healthy improvements in revenue, profits and clients.
But staffing emerges once again as the primary challenge, followed closely by late and unprepared clients.
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What’s causing your stress?
(comments)
- new systems, resistance to change and not enough bodies
- too many interruptions
- Time demands from clients
- Boss
- work overload
- work and study takes about 18 hours every day
- Waiting for the replies
- constant interruptions that must be addressed
- Lack of sleep
- deadlines, clients, too much at one time, poor organizational skills during tax season
- Others not carrying their load and being dumped on
- Irrational fear that I’m not doing a good enough job and won’t get everything done.
- Deadlines, lack of cooperation from employees, too many interruptions
- Clients that I expect now are not in yet. So that means that Feb-April could be tougher.
- school, kids, and work all rolled into one headache
- Client timetables
- Reviewed Financial Statements and fin 48
- Work Load and new staff
- Client expectations
- Employee issues
- time pressure
- Too many deadlines all at one time.
- clients
- Uncertainty over when things will come in. Surprises that screw up planning.
- Personnel shortages and increased workload.
- people
- Deadlines
- Staffing; client demands; timing issues.
- Client expectations
- getting ready 4 the tax rush…
- Staff issues mostly.
- partners and staffs
- clients
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Can you explain any changes from last year?
(comments)
- Work was more spread out; more hires
- We are successful in getting new clients, Clients are getting more price sensitive. And we’re doing new staff training
- slight price and volume increases…
- Shortage in the industry
- more projects
- more clients
- Increasing all of my rates - because “I am worth it!!!”
- Increased fees and work more efficiently
- Increased budget monitoring and new clients.
- going paperless
- Effort to increase billings and remove poor clients
- Efficiency
- disease out-break on poultry farm my main business
- Costs are higher, but revenue has not necessarily risen enough to cover.
- additional personnel this year to relieve the stress will net the same income with an increase
in revenues
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Based on your experiences so far, what would you DO DIFFERENTLY NEXT YEAR?
(comments)
- try to be more efficient
- to tired to think about this one
- strive for more accuracy; encourage clients to be more prepared and thorough with their materials
- Start planning earlier.
- retire
- Planning even earlier. Engagement letters, etc, issued by end of this year for next year’s season.
- Organize more.
- More planning completed in December.
- More planning
- More early prep time on tax changes and updating software.
- Less appointments
- I’ll see later in the tax season.
- if i knew i would do it
- hire more support staff
- Have more employee back-up - enlarge staff and have them ready before 1/1
- get the better empolyee
- Better advance planning.
- be even more prepared
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Personally, how do YOU de-stress during busy season?
(comments)
- think about the vacation on April 16th
- A long drive home with no traffic clears the mind.
- Church, family, exercise.
- eat right, exercise, relax….
- exercise
- Exercise
- EXERCISE
- Exercise
- Exercise is CRITICAL - at least 3x/wk
- exercise, conversations with family and friends
- Generally, I don’t. But I try to keep most of Sunday open for the family.
- gym; read
- i do not wish i could
- Messages. Sunday afternoons I vegg out and go to bed early. I try not to work late on Fridays so I can go out and unwind at dinner, happy hour and be home by 12 pm to rest up for mandatory Saturdays.
- no idea
- Observe the Sabbath - no 7-day workweeks. Get at least 7 hours of sleep per night. Take a walk in the morning before work as often as possible.
- pray or drink…
- Pray, sing and relax; you can only do what you are capable of doing; what’s the point in stressing out?
- take a bath
- Take a break and check e-mails and stock markets
- Walking, playing racquetball, prayer, bourbon.
- work out, basketball games, Chinese food
- Work out.
Join the Busy Season Stress-O-Meter survey; get the updates.