AI

How to Cultivate Holistic Wealth

By

Calm balanced businessman sitting outdoors on bench in Yoga lotus pose meditating, with office building and blue sky in background

A deep dive into the SHiFT framework.

By Jackie Meyer

Success is often defined in dollar signs and business metrics, but as a seasoned advisor you know that true wealth extends far beyond the financial statement. After all, what’s the point of a seven-figure firm if your health is in shambles, your relationships are strained, or you have no time to enjoy life?

MORE: Five Hard-Earned Lessons from Exiting an Accounting Firm | It’s Never Too Early to Plan Your Exit Strategy | Beyond Blocking: More Time Management Strategies | Reclaim Your Hours with Time Management and Productivity Hacks | Hiring Strategies for Your Dream Team | Streamline Your Operations with Systems and Processes | From Compliance to Advisory: Shifting the Value Proposition | How I Became an Accidental Entrepreneur | Build a Seven-Figure Firm in Four Hours a Week
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

 

In this article, we’re going to zoom out and look at the whole picture of what it means to be a “Balanced Millionaire.” This is about cultivating holistic wealth across all areas of life, using the SHiFT Framework – Social, Health, Financial, Time. These are the four pillars of holistic wealth and well-being that support a truly balanced and fulfilling life for a high-achieving professional.
READ MORE →

AI Isn’t Erasing Tax Careers. It’s Rewriting Them | ARC

By

Firms must build new pathways that develop reviewers, judgment and client-facing skills.

 

Sponsored by Radical Pricing by the Radical CPA, Jody Padar | See Today’s Special Offer

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google/YouTube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.

Optimize Profits, Delight Clients, & Build a Top-Value Firm!

Accounting ARC
With Donny Shimamoto, Liz Mason, and Byron Patrick
Center for Accounting Transformation

Artificial intelligence may not eliminate the entry-level tax professional. But it is dismantling the job that many firms still use to train one.

That’s the conversation driving a new episode of the Accounting ARC podcast featuring Donny Shimamoto, CPA.CITP, CGMA, founder and managing director of IntrapriseTechKnowlogies LLC and founder and inspiration architect for the Center for Accounting Transformation; and Liz Mason, CPA, CEO of High Rock Accounting.

The conversation begins with a small tax firm that hires six interns each year and teaches them to prepare returns much as earlier generations learned: working from paper documents, identifying relevant numbers, mapping those figures to tax forms, and entering the data into tax software.

MORE Accounting ARC: Accounting Internships Need an Upgrade | The CPA Career Nobody Talks About | Conference Season Exposes Accounting’s Knowledge Gap | The Feedback Mistake That Costs You Your Best People | Is Your Boss Really the Problem? | Most Accountants Are Missing This AI Shift | AI Can Fix Your Workflow—or Break It in Seconds | Efficiency Is the Wrong Goal for AI | Accounting’s Hidden Talent Risk: The Sandwich Generation | Built Fast. Sold Faster. Broken Later? The Truth About Accounting Tech | Recognize When You Need to Recharge Before You Burn Out | Valuing More Than the Balance Sheet

The firm owner sees the process as an apprenticeship that helps students bridge the gap between an individual tax course and real-world preparation. Shimamoto sees value in teaching interns how information moves from source documents to a completed return. Mason agrees with the objective but challenges the method.

“From a holistic learning exploration, sure, yes, that is a way to learn,” Mason says. “From a where-we-are-today perspective, I think that’s a giant disservice to these interns.”

READ MORE →

Accounting Internships Need an Upgrade | ARC

By

As AI handles more routine work, how do young accountants develop judgment, communication and leadership?

Sponsored by Radical Pricing by the Radical CPA, Jody Padar | See Today’s Special Offer

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google/YouTube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.

Optimize Profits, Delight Clients, & Build a Top-Value Firm!

Accounting ARC
With Donny Shimamoto and Liz Mason
Center for Accounting Transformation

The accounting internship is due for an upgrade.

For decades, internships often give aspiring accountants their first real taste of the profession by dropping them into the work: Learn the process, complete the assignment, survive busy season and figure out the unwritten rules along the way.

But as artificial intelligence takes over more of the entry-level work traditionally assigned to new accountants, Donny Shimamoto, CPA.CITP, CGMA, and Liz Mason, CPA, argue the profession needs to reconsider what an internship is actually supposed to teach.

MORE Accounting ARC: The CPA Career Nobody Talks About | Conference Season Exposes Accounting’s Knowledge Gap | The Feedback Mistake That Costs You Your Best People | Is Your Boss Really the Problem? | Most Accountants Are Missing This AI Shift | AI Can Fix Your Workflow—or Break It in Seconds | Efficiency Is the Wrong Goal for AI | Accounting’s Hidden Talent Risk: The Sandwich Generation | Built Fast. Sold Faster. Broken Later? The Truth About Accounting Tech | Recognize When You Need to Recharge Before You Burn Out | Valuing More Than the Balance Sheet

In this episode of the Accounting ARC podcast, Shimamoto, founder and managing director of IntrapriseTechKnowlogies LLC and founder and inspiration architect for the Center for Accounting Transformation, and Mason, CEO of High Rock Accounting, explore why tomorrow’s accountants need more than technical proficiency.

They need what Shimamoto calls “power skills.”

READ MORE →

What AI CEO’s Warning Means (and Doesn’t) for Accountants

By

Five reasons your work is safe … if you’re doing the right work.

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

OpenAI CEO Sam Altman has issued a fresh warning: Some jobs are just going to go away. “Totally, totally gone,” as reported by Techspot. Altman was discussing the effect of artificial intelligence on customer support roles and indicated that entire categories of work could be under threat.

FOR MORE A.I.: Ask the CPA Trendlines AI Chatbot

MORE by Hitendra Patil: The DNA of Advisory-CAS | Advisory Is Not Consulting | What Exactly Is Client Advisory Services? | Review Your CAS Offerings | CAS Prospects Want Proof? You’ve Got That | What AI CEO’s Warning Means (and Doesn’t) for Accountants | Ditch the Sales Pitch | How to Get CAS Clients to Blow Your Horn | Four Questions for Choosing CAS Clients | What Is Your Firm’s Marketable Value? | Seven Tips for CAS Marketing | Twelve Things That Kill Your CAS Profits
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

AI eliminating middle-class jobs immediately raises severe concerns. But what does it mean for accountants? While AI automation clearly targets customer support, accounting professionals should naturally wonder if their work is next.

READ MORE →

Conference Season Exposes Accounting’s Knowledge Gap | ARC

By

From vendor demonstrations to hallway conversations, this year’s conference season highlights both excitement and uncertainty across the profession.

Sponsored by Radical Pricing by the Radical CPA, Jody Padar | See Today’s Special Offer

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google/YouTube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.

Optimize Profits, Delight Clients, & Build a Top-Value Firm!

Accounting ARC
With Liz Mason, Byron Patrick, and Donny Shimamoto
Center for Accounting Transformation

Every summer, accounting professionals pack conference centers looking for the next big idea. They attend breakout sessions, visit vendor booths, compare notes with peers and return to their firms with pages of ideas.

This year, however, the conversations feel different.

Artificial intelligence still dominates the agenda, but the Accounting ARC hosts notice a subtle shift beneath the excitement. The biggest takeaway isn’t simply that AI is everywhere. It’s that many accountants are struggling to separate innovation from marketing, capability from hype, and opportunity from risk.

MORE Accounting ARC: The Feedback Mistake That Costs You Your Best People | Is Your Boss Really the Problem? | Most Accountants Are Missing This AI Shift | AI Can Fix Your Workflow—or Break It in Seconds | Efficiency Is the Wrong Goal for AI | Accounting’s Hidden Talent Risk: The Sandwich Generation | Built Fast. Sold Faster. Broken Later? The Truth About Accounting Tech | Recognize When You Need to Recharge Before You Burn Out | Valuing More Than the Balance Sheet

In this episode of Accounting ARC, hosts Byron Patrick, CPA.CITP, senior product manager for Karbon and co-founder and educator for TB Academy; Donny Shimamoto, CPA.CITP, CGMA, founder and managing director of IntrapriseTechKnowlogies LLC and founder and inspiration architect for the Center for Accounting Transformation; and Liz Mason, CPA, CEO of High Rock Accounting, reflect on what they observe during this year’s conference season—and what those observations reveal about the profession’s next challenge.

READ MORE →