Today's Features

The Top Portable Monitors for Auditors

Laptop with portable monitor attachedTest out mobile monitors before buying them in bulk.

By Roman H. Kepczyk
Quantum of Paperless

The advent of today’s audit “document container” applications has transitioned every aspect of audit production into a digital format.

MORE: Why Your Firm Needs Procedure Manuals | Beyond Email: New Digital Tools | Who Deletes Documents and When? | The New Risks in Cloud Efficiencies
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

The key to successfully using these engagement applications is to make sure your personnel have the optimal equipment with them to work digitally. This includes multiple monitors, image capture equipment and remote communications capabilities.
READ MORE →

‘Going Cloud’ Requires More, Not Less, Cybersecurity

Portrait of William Murphy Sr.
Murphy

It's a team approach, not a handoff.

By William Murphy
Accounting Firm Operations and Technology Survey

It seems that everyone is "going cloud," or soon will be. If you are not already in the cloud, chances are you are working your way toward getting there, or you are at least thinking about it.

One reason you are thinking about abandoning those servers in your back office is to avoid the possibility of cyberattack and the loss of your data, or a "holdup for your data" in the form of ransomware. You think that moving to the cloud is going to give you the ultimate in cybersecurity when it comes to protecting your data and the confidential information within it. You had better think again!
READ MORE →

Maximize Your Role as Visionary

woman ladder binoculars city view outlook vision success climb AdobeStock_57204649.jpegDo the things that only you can do.

By Frank Stitely
The Relentless CPA

Your final role as CEO is visionary. This differs from your role as strategist, as the visionary role deals with the long-term future of your firm.

MORE: How to Be the Chief Communicator | The Tax Practice Traffic Cop | The Land Mines in Tax Returns | How to Teach Reviewing and Time Management | How to Coach Your Staff | Give Your People the Resources They Need | 4 Steps to Take Before Next Tax Season
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

This is the fun part, if you really relish your role as CEO. Consider your firm a blank canvas on which you can experiment endlessly.
READ MORE →

The Big 8 Next Tech Disruptors

Stylized industrial 3D number 8You won't use them all yet, but they're on the way.

By Rick Richardson

Frost & Sullivan conducted a small-scale survey of 112 thought leaders from around the world to seek opinions on the technologies that will have a profound transformative impact on existing industry dynamics, value chains and business models across multiple vertical markets in the next 10 years.

MORE TECH THIS WEEK: The Argument for a Robot Tax | Breaking Up Big Tech Will Be Really Hard to Do | New TSA Tech Will Let You Keep Laptops, Liquids in Bags | SAP’s New Blockchain Project Helps Weed Out Counterfeit Drugs
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

In addition to providing quantitative insight, the study also provides a top-level assessment of eight emerging technologies:
READ MORE →

Accounting Services Aren’t What You Think They Are

When anyone can do taxes & accounting, what's left for CPAs?

By Donny C. Shimamoto, CPA.CITP, CGMA

When most people hear the word “accountant” they immediately think of taxes or bookkeeping…and the nerdy introvert glued to a spreadsheet on their computer screen.

But in reality, you don’t have to be an accountant to prepare tax returns or record accounting transactions. Neither of those tasks requires any kind of accounting license, credential or certification.

READ MORE →

How an Out-of-Work Tax Preparer ‘Saved’ Our Lives

Portrait of a cheerful businessman smiling at the cameraAlways be ready to help others.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

A number of years ago we purchased a practice in late February to get the business clients. However, we had to agree to service the individual tax clients, of whom there were about 180, with each paying a very low fee. The seller did not want to hang up his longtime clients.

MORE: Getting by Giving Back | How to Be ’the Other Guy’s Accountant’ | Why We ‘Kill’ to Get Partnership Returns Out Quickly | My First Thought Is to Never Turn Down Business | The Background to Saving a Business
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

We had just moved the files into our office and were really concerned about how we could get the returns done without totally straining our system when Lenny called asking if we had any per-diem tax season work for him.
READ MORE →

Compliance Is Not Dead, It’s Evolving

Portrait of Seth Fineberg
Fineberg

Personal education is key.

By Seth Fineberg
Accounting Firm Operations and Technology Survey

For all of the talk of automation taking away basic accounting work and the bell tolling for any practitioner not moving toward more advisory work, the fact is compliance is not going away.

If anything, the evolution of technology has made compliance work easier – and I dare say more profitable – for particularly small accounting firms that rely on this work as an annuity, their “bread and butter” if you will. The point is, and particularly for the small firms that make up the majority of the accounting profession, compliance is not going away but it is evolving.
READ MORE →

Mergers: What Could Go Wrong?

Deal-breakers: Culture, personalities, and values. (CPA Trendlines Research)

M&A veterans cite culture, personalities, and values as top deal-breakers.

By CPA Trendlines Research

Why do firms merge? Why do sellers want to sell, buyers to buy? What attracts them? What worries them? What can go wrong?

And how does that affect you?

The new CPA Trendlines Mergers & Acquisitions Survey, conducted in conjunction with Capstone Marketing, has some of the answers.

And who better to answer than practitioners who have been through the merger or acquisition process?

The survey, which delves into the attitudes and behaviors of the M&A phenomenon like no other study, is yielding a raft of surprising findings.
Join the survey. Get the results.

READ MORE →

How to Be the Chief Communicator

Man on the phone in officeIf you follow this plan, you'll have the time and reap the benefits.

By Frank Stitely
The Relentless CPA

Your role as chief communicator is closely related to your traffic cop role. In the traffic cop role, we covered prodding clients to keep projects moving along, but there is more to client communications than just moving projects along to completion.

MORE: The Tax Practice Traffic Cop | The Land Mines in Tax Returns | How to Teach Reviewing and Time Management | How to Coach Your Staff | Give Your People the Resources They Need | 4 Steps to Take Before Next Tax Season | How to Create Good Managers | 4 Tips for Managing Advanced Preparers | 3 Tips for Handling Rookie Tax Preparers | How to Hire and Manage Great Admin Staff | The Right Way to Assign Staff Projects
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

How many times per day do clients contact you to ask such pressing questions as, “Are my dog’s vet bills deductible medical expenses?” The answer is yes, if your vet holds dual DVM and MD degrees and your dog is classified as a dependent on your tax return. See IRS code section 999, subsection C, paragraph 666.
READ MORE →

Why Your Firm Needs Procedure Manuals

5 steps to successMake sure you include ALL steps.

By Roman H. Kepczyk
Quantum of Paperless

Every firm has accountants who are 10 percent, 20 percent or even 50 percent more productive in their departments than other personnel because they have simply “figured it out.” Unfortunately, when these people leave the firm, their unique knowledge of specific processes and shortcuts goes with them.

MORE: Beyond Email: New Digital Tools | Why Scanning Procedures Matter | Using Databases for Document Management | SURVEY: Firms Split on Mobile Device Management | Need Internet? Grab Your Phone | SURVEY: IM Still Not Common at CPA Firms
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

It is the responsibility of firms to capture these individuals’ best practices so that that specific knowledge can be shared and accessed by all firm members both now and in the future. This can be accomplished by making a concerted effort to develop a best practices manual within each department.
READ MORE →

Advanced Tech Drives Financial Services Growth

Illustration with dollar sign, chips etc. in blueFocus on emerging tech vs. operating efficiencies.

By Rick Richardson

While the financial services industry is growing more confident overall in its underlying technology, the firms with the most advanced technology operating models continue to outperform their peers in terms of revenue growth, driven by accelerated adoption of cloud, artificial intelligence, and other emerging technologies.

MORE TECH THIS WEEK: Casinos Deploy A.I. for an Even Better House Advantage | Anti-Robocall Legislation Sails Through House in Landslide Vote | Front-Facing Display Puts DJI Osmo Action Ahead of GoPro | What Your Car Will Know About You | How to Beat the Online Sales Tax
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

The third annual FIS Readiness Report surveyed more than 2,000 senior executives from retail banks and buy-side, sell-side and insurance firms.
READ MORE →