A Strategy For Better Client MeetingsRead the rest of this entry »
One of the biggest demands on an accountant's time are client meetings.
There are the prospective client, get-to-know you meetings, for which many firms don't bill. Once they do sign, then time management becomes critical. Even when you bill by the minute, those "I have a quick question" calls can turn into time sucks. And when they really are as quick as the client claims, they can become a sore ...
Survey Finds a Global Accounting Change Is OccurringRead the rest of this entry »
Driven by market demands, digitalization and generational shifts, a cultural change in accounting is occurring worldwide.
"We see evidence that a majority of professionals are actively and extensively examining not only what's being offered today to customers, but also the processes and structures behind running their practice," writes Jennifer Warawa, EVP of Partners, Accountants and Alliances with the accounting services firm Sage.
In her foreword to the recently released ...
Accounting Grad Hiring, Enrollment DeclinesRead the rest of this entry »
"Increased demand for technology skills is shifting the accounting firm hiring model," says the CEO of the AICPA. "This is leading to more non-accounting graduates being hired, particularly in the audit function."
The organization released its annual Trends Report yesterday. It shows an 11% decline in the hiring of new accounting graduates, while firms have increased their hiring of non-accountants by the same percentage. Some of the increase ...
Robo-Advisors Have Yet to Break EvenRead the rest of this entry »
Robo-advisors, one of fintech's flashier trends, have yet to pay their way. Even at the typical 0.25% fee, most have yet to attract enough invested dollars to break even, let alone turn a profit.
A detailed discussion on International Banker of the robo-advisor phenomenon leans on an HSBC report on the wealth management industry, which included an analysis of the emerging sector that concluded almost none of the online ...
AI Will Replace Accountants? Not Very LikelyRead the rest of this entry »
Accounting Today has a graphic illustrating a 2013 prediction from The Economist suggesting that after telemarketers, accountants and auditors are the most likely to be automated. Don't believe it.
Or at least don't believe it if you do more than merely collect and process data. The days of those kind of accountants may, indeed be numbered. For those accountants and bookkeepers who analyze the numbers, advising business owners on how ...
Execs See Business Travel As An InvestmentRead the rest of this entry »
CFOs who focus on the expense side of business travel are out of step with the majority business leaders who see travel "as a strategic investment that adds business value."
As reported in CFO, a survey by Harvard Business Review of almost 600 executives and managers found 68% agreed with the statement that "treating travel as a strategic investment that adds business value rather than a cost to be ...
The Drivers Behind Accounting's Cultural ChangeRead the rest of this entry »
A cultural shift is underway in the accounting profession, driven by market demands, digitalization and the influx of younger workers who have expectations toward work different from a firm's more senior members.
A recently released survey of 3,000 accounting professionals from North America, Europe and Australia examines the changes in accountancy and the underlying reasons for them. Writing in the foreward of the report sponsored by the accounting software ...
Majority of Corporate Tax Professionals are AutomatingRead the rest of this entry »
A survey of senior corporate tax professionals by Ernst & Young found more than 6 out of 10 have adopted new technologies to improve efficiency and enhance their data analytics.
“In this transformative age, disruptive technologies such as AI and Robotic Process Automation (RPA) have already changed the face of tax functions,” said Marna Ricker, EY Americas Vice Chair of Tax Services. “This technology enables tax professionals to spend more ...
Accountants Losing Confidence In Continued GrowthRead the rest of this entry »
Although hardly bearish, the downward trend in the confidence accountants have in business growth is worth watching. Since hitting a peak of 61.65 in February of last year, the 6 month Accountants Confidence Index has declined more than 10 points.
Reported by AccountingToday and published in conjunction with ADP, the Index tracks accountants' confidence in U.S. economic growth. The May reading for the 6-month composite came in at ...
PwC Tops List of 50 Best Accounting FirmsRead the rest of this entry »
For the seventh year in a row, PwC ranks first in the annual Vault survey of the country's top 50 accounting firms.
The global accounting and business consulting firm also earned the top spots in two of the several areas that together determine the overall top ranking. PwC was first in the rankings for Prestige and Business Outlook.
Deloitte ranked a close second. KPMG came in third, followed by Grant ...