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What accountants need to know about cryptocurrency

Mary Ellen Biery
Posted by Mary Ellen Biery

This year may bring a barrage of questions from accounting and advisory firm clients about cryptocurrency, and Matthew May wants to help you be ready for them. “People always ask accountants about different asset classes and what people perceive to be investments, and cryptocurrency is what everyone wants to talk…...

Generate business valuation engagements: Ask clients these 7 questions

Mary Ellen Biery
Posted by Mary Ellen Biery

Business owners have 80 to 90 percent of their financial wealth locked up within their businesses, according to the Exit Planning Institute, which trains and advises succession planning professionals. However, survey after survey by the institute indicates that owners may have trouble liquidating this wealth when they need to. Surveys…...

Coaching clients to improve their enterprise value

Matthew Jones
Posted by Matthew Jones

By Rich Greene, CEO - Director, Clarus Advisors Most entrepreneurs I have worked with are proud of the business they built and have not been afraid to take risks to “grow the business”. However, while most do an excellent job of managing the day-to-day challenges their businesses face – they do…...

Trust but verify: Controlling processes

Kylee Wooten
Posted by Kylee Wooten

One of the key steps in implementing policy is to make sure what’s required by the policy is actually done. A “trust but verify” approach both ensures that processes are being followed as well as evidences to audit functions and external parties that strong controls are in place. There are…...

Using industry data to help restaurant owners

Mary Ellen Biery
Posted by Mary Ellen Biery

Wouldn’t you like to know if you are doing a good job? Business owners don’t have the luxury of a grade school teacher to hand out gold stars, but they do have you: their advisor. Accountants have a unique opportunity to help restaurant owners run their businesses better by incorporating…...

Making credit analysis simple

Kylee Wooten
Posted by Kylee Wooten

If the mantra of the movie Field of Dreams was, “If you build it, they will come,” then the mantra for credit policy should be, “If you make it simple, they will do it.” This is not to say that credit analysis is simple. Rather, processes that effectuate credit policy…...

With or without external advisors, CECL transition is achievable

Mary Ellen Biery
Posted by Mary Ellen Biery

During the transition to the FASB’s current expected credit loss (CECL) model, some financial institutions are developing their own needs-based approaches to methodology, segmentation and other elections. Others are partnering with service providers to help develop the framework for a CECL transition rather than managing the effort solo. Many of…...

Away from hourly pricing: 3 value pricing alternatives for accountants

Mary Ellen Biery
Posted by Mary Ellen Biery
price services more effectively

When an accounting firm’s business client faces an IRS audit, the stakes of having qualified advice from their accountant are clearly higher than if the client needed help on a simple IRS inquiry letter or notice. The client is also likely more anxious about the audit than they would be…...

Management consultants will hear “The Sageworks Story”

Kylee Wooten
Posted by Kylee Wooten

Brian Hamilton, founder and vice president of product development at Sageworks, will be a keynote speaker for the Institute of Management Consultants (IMC) Carolinas regional meeting at the Grandover Resort in Greensboro, N.C., on Feb. 12. IMC USA is the certifying body and professional association for management consultants and firms…...

Beyond compliance: How accountants can talk about finances with business owners

Mary Ellen Biery
Posted by Mary Ellen Biery

Accountants who want to shift into higher-margin advisory services can begin by making a concerted effort to talk with business clients about the financial performance of their enterprises. While this can be challenging for busy CPAs who are accustomed to dealing only with tax preparation and other routine compliance work,…...