staffing

Aynsley Damery: Adding Value Is the Only Way to Stay in Business

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Rethink the 80:20 rule, because the 80% are likely stealing from you.

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The Disruptors
With Liz Farr for CPA Trendlines

Aynsley Damery wants accountants to think more deeply about their work. The CEO for Clarity said we need to think about what clients want and deliver it to them, but as simple as that sounds, the problem is he doesn’t “think many accountants truly understand what their clients are looking for.” Clients who have started their own businesses are looking for a combination of “money, time and freedom.” However, Damery said, we’re selling them dashboards, KPIs and cash flow forecasting without explaining why that’s important and what that’s going to do for them. “Clients are looking for an advisor who’s going to listen to me, understand my hopes, my fears, my vision, what the challenges are, and be able to be there to support me,” Damery said.

MORE: Erik Solbakken: Yes, You Can Work Less and Make More | Donny Shimamoto: Future Firm Growth Requires a Mindshift | Jennifer Wilson: Empower Young Workers to Build the Firm Everyone Loves | Mike Whitmire: Re-Think Your Hiring and Training Practices | Hector Garcia: Success Strategies of a Quickbooks YouTube Superstar | Blake Oliver: Why Tax Work Yearns To Be Free| Private Equity Explodes in U.K. | Brannon Poe: The Status Quo Must Go  | Accounting Nerds, Unlock Your Super Powers  | Disruptor: Jason Statts Shakes Up the Status Quo | Think Small to Think Big with Matt Wilkinson | When Financial Statements Go Extinct with Corey Schmidt | Can Geraldine Carter Save Accountants from Themselves? | Re-Inventing Accounting with Tyler Anderson

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“Our clients don’t understand numbers, yet we give them plans with the numbers, and … it doesn’t help,” he said. Instead, Damery said CPAs need to help them understand what they need to do “to make a difference and move their business forward. And that’s not about giving them the answers. That’s about asking the right questions.”

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Yes, You Can Work Less and Make More

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Erik Solbakken: Build the firm of your dreams.

 

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The Disruptors
With Liz Farr for CPA Trendlines

Q: Why did the accountant cross the road?

A: Because they did it last year.

Erik Solbakken, a.k.a. “The Heavy Metal CPA,” is on a mission to free accountants from an oppressive business model. Solbakken spent 18 years working his way up to be a partner in a firm in Canada, but when the partnership fell apart, he was liberated to create a new kind of firm, where he and his staff never worked overtime and he made more money. Today, he acts as the guide he wishes he’d had when he started out, empowering accountants to create firms they love working in.

MORE: Donny Shimamoto: Future Firm Growth Requires a Mindshift | Jennifer Wilson: Empower Young Workers to Build the Firm Everyone Loves | Mike Whitmire: Re-Think Your Hiring and Training Practices | Hector Garcia: Success Strategies of a Quickbooks YouTube Superstar | Blake Oliver: Why Tax Work Yearns To Be Free| Private Equity Explodes in U.K. | Brannon Poe: The Status Quo Must Go  | Accounting Nerds, Unlock Your Super Powers  | Disruptor: Jason Statts Shakes Up the Status Quo | Think Small to Think Big with Matt Wilkinson | When Financial Statements Go Extinct with Corey Schmidt | Can Geraldine Carter Save Accountants from Themselves? | Re-Inventing Accounting with Tyler Anderson

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How do you get away from the commoditization trap? Simple, deliver to the client the transformation that they want for themselves.

Solbakken said the profession has brainwashed us into believing three lies:

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CPA Firm Wages Surge 9%

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In payroll, employment is up, but earnings are down.

By Beth Bellor
CPA Trendlines Research

Want an easy way to make employees happy? Give them more money – and that’s just what’s happening in the latest jobs report.

MORE: Accounting Staffs Grow 4%; Pay Rates Surge 8% | Headcounts Grow 5%; Pay Rates Surge at 7% Pace | CPA Staff Wages Hit New High and Keep Climbing | Firms Battle Staff Shortages with Pay Hikes | Tax & Accounting Firms Beef Up Wages and Headcounts | Employee Counts, Earnings Rise
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Except for payroll services, all tax and accounting sectors are seeing higher earnings year over year. Overall pay was up 6.7 percent, with CPA firm staff pay close behind at 6.6 percent. CPA firms beat the national 7.7 percent inflation rate, increasing hourly earnings by a heady 9.2 percent.
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Accounting Staffs Grow 4%; Pay Rates Surge 8%

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Weaker signs in tax and payroll.

By CPA Trendlines Research

It’s not a bad time to be an accountant.

The accounting sector is charting stable, predictable expansion in an uncertain economic environment, with some signs of weakness in tax prep and at payroll agencies, according to a new CPA Trendlines study.

MORE: Headcounts Grow 5%; Pay Rates Surge at 7% Pace | CPA Staff Wages Hit New High and Keep Climbing | Firms Battle Staff Shortages with Pay Hikes | Tax & Accounting Firms Beef Up Wages and Headcounts | Employee Counts, Earnings Rise
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We report here on the accounting profession as a whole as well as:

  • CPA firms
  • Tax preparation services
  • Payroll services
  • Bookkeeping
  • Women

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Hector Garcia: Success Strategies of a QuickBooks YouTube Superstar

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The Disruptors: His secret recipe for attracting and retaining clients and employees.
Subscribe to CPA Trendlines podcasts anywhere: Apple, Google, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), and Boomplay (Africa).


The Disruptors
With Liz Farr for CPA Trendlines

Any accountant who has ever met Hector Garcia will likely use the adjective “generous” to describe him. Since 2011, he’s been sharing his encyclopedic knowledge of QuickBooks on a YouTube channel that has generated millions of views.

MORE:  Why Doing Nothing Is Not an Option | Blake Oliver: Why Tax Work Yearns To Be Free| Private Equity Explodes in U.K. | Brannon Poe: The Status Quo Must Go  |  Accounting Nerds, Unlock Your Super Powers  | Private Equity vs. the CPA Firm Partnership The FinTech Flood: Accounting Will Never Be the Same  |  Think Small to Think Big with Matt Wilkinson | Your Sales Tax Headaches Are Only Just Beginning | When Financial Statements Go Extinct with Corey Schmidt  |  Can Geraldine Carter Save Accountants from Themselves? |  Re-Inventing Accounting with Tyler Anderson |  Turning Client Service into New Revenue

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Because of that YouTube channel, he hasn’t printed business cards for two years.

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Staffing Crisis: 40% Are Looking for New Jobs

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data chart
Adecco Group 2022 Salary Guide

Money isn’t the biggest draw.

By CPA Trendlines

America’s workers are on the move. Maybe it’s post- (let’s hope) pandemic restlessness. Maybe it’s the closing of companies and the loss of jobs. Maybe it’s the windows of opportunity that opened during remote work.

MORE: The FinTech Flood: Accounting Will Never Be the Same | CPA ROI DOA: Why the Next-Gen Accountant Won’t Be a CPA | Matt Wilkinson: Think Small to Think Big | How to Communicate Your Value  | Payroll Services Rocket with U.S. Economy | Internal Communication Can’t Be Overlooked | Top Issues: Talent, Time, and Transformation |  The Disruptors: Re-Inventing Accounting with Tyler Anderson |

More in RECRUITING  & TALENT MANAGEMENT

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Whatever it is, an astonishing 40 percent of workers say they are likely to consider a new job opportunity in 2022, according to the 2022 Salary Guide issued by The Adecco Group.
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Women Lag Men in Accounting Jobs Recovery

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New records set in hourly earnings.

By Beth Bellor

Across the tax and accounting industry, almost all the jobs relinquished by men in the Coronavirus layoffs have been regained by men. The jobs given up by women, on the other hand, are still largely vacant.

MORE ON JOBS: Comeback Stalls as Layoffs Hit 1,500 in Accounting | Tax & Accounting Regains 3,800 Jobs | Accounting Jobs Recovery Slows | Tax & Accounting Firms Rehire Two-Thirds of Pre-COVID Workforce | Tax & Accounting Firms Rehire Two-Thirds of Pre-COVID Workforce
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Overall, the tax, accounting, tax prep, payroll, and bookkeeping sectors employed 1.02 million full-time equivalents in March 2020, before 70,000 layoffs hit in April. So far, the industry has re-filled all but 17,600 positions.

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Comeback Stalls as Layoffs Hit 1,500 in Accounting

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CPA firms cut average staff pay.

“The Tax Season from Hell?”
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By Beth Bellor
CPA Trendlines Research

The accounting profession sector by sector generally looks slightly brighter, with most reporting headcount growth for the month – but losses for the year.

Exceptions include the profession overall, which is taking a 0.2 percent dip, tax preparation services up for the year 3.3 percent, and bookkeeping, up 1 percent.

MORE ON JOBS: Tax & Accounting Regains 3,800 Jobs | Accounting Jobs Recovery Slows | Tax & Accounting Firms Rehire Two-Thirds of Pre-COVID Workforce | Tax & Accounting Firms Rehire Two-Thirds of Pre-COVID Workforce | New Job Cuts at CPA Firms | COVID Job Toll: Tax & Accounting Cuts 17,500 Employees | Firms Recall Half of Furloughed Staffers
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In this report, CPA Trendlines highlights:

  • Current and long-term hiring trends in each of the bookkeeping, payroll, tax, and CPA segments of the industry (all data seasonally adjusted)
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce

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