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  • Infographic: Closing deals with a defensible business value

    From the lack of proper documentation to a sudden change in the market, there are many reasons businesses fail to sell. One of the primary issues facing the sale of businesses is the valuation gap. A valuation gap is the difference between the owners perceived value and the actual market…
  • Infographic: 4 Reasons to leverage technology in your accounting firm

    Consultant Doug Sleeter, an Accounting Hall of Fame member, pointed out in 2014 that, “small and medium-sized businesses no longer simply require tax and compliance-related services. They need – and want – advisory services.” At this point it is no secret – businesses want their accountant to help their business…
  • Small U.S. accounting firms and their consultative future

    While the Big 4 firms often receive the majority of coverage and attention in the accounting industry, they are far from representative of the average firm in the U.S. In fact, 90% of all accounting firms have 10 or fewer collective partners or owners (AFOT). By 2024, sector growth of…
  • The most useful (and rarely used) types of data analytics

    By Jackie McLaughlin, CPA Data analytics are gaining momentum as they are increasingly being used during the audit process. As auditors know, data analytics are required during both the beginning and the end of an audit. However, analytics can also be employed efficiently and effectively as substantive procedures. Data analytics…
  • What are analytical procedures and their benefits?

    By Jackie McLaughlin, CPA Analytical procedures are beginning to become more prevalent in the audit world. They provide auditors with many benefits. But are those benefits known? According to the AICPA, analytical procedures consist of reviewing financial information by studying plausible relationships between data and evaluating it for consistency. Analytics…
  • Technology-enabled data analytics: Friend or Foe?

    By Jackie McLaughlin, CPA With the increased availability of useful data, analytical review procedures are becoming more important during the audit process. The processes provide a number of benefits to help CPAs reduce risk and increase audit efficiency. Additionally they provide opportunities for CPAs to become even better at what…
  • Becoming an inspiring and profitable advisory accountant

    Best-selling author Steve Pipe is a Chartered Accountant, researcher, speaker and founder of Accountants Changing the World. He authored books including The World's Most Inspiring Accountants, The UK's Best Accountancy Practices and Your Blueprint for a Better Accountancy Practice, and is currently researching his 2017 book, The World's Best Accountancy Practices.…
  • The two biggest challenges public accountants face

    By Jackie McLaughlin, CPA Two of the biggest challenges that partners face when undertaking an audit engagement is risk mitigation and efficiency. Without proper risk mitigation a firm may issue an incorrect audit opinion and without audit efficiency, a firm may not be able to achieve healthy profit margins.  …
  • The rise of the accounting entrepreneur

    In a recent Sageworks webinar, The Rise of the Accounting Entrepreneur, Jason Blumer compared the accounting industry today to that of the past, and explained how accountants today can lead their firms to greater financial success while finding greater personal fulfillment by becoming entrepreneurs. Blumer, founder of CPA network Thriveal, began…
  • 7 Aspects of your CPA firm culture that can make or break a merger

    When it comes to a merger of accounting firms, the process can depend on way more than the bottom-line financial terms of the deal, according to Philip J. Whitman, CPA, president and CEO of Whitman Business Advisors LLC. Indeed, many features of the firms involved will have an outsized impact…
  • What can your firm learn from busy season?

    Get ready to breathe a sigh of relief… you’ve almost made it to the end of busy season. If your Twitter feed has consistently seen nothing but #busyseasonproblems for the last few months, it’s nearly time to make them a distant memory (but admit that you’ll miss the comic relief).…
  • The madness of March: Busy season edition

    Someecard created by Whitney2327585 If you’re an accountant, a CPA or an auditor, March may very well be the most grueling month of the year. You’re probably up to your ears in #busyseasonproblems like being overloaded on caffeine, working on little sleep, and jealousy for missing out on the college…
  • What is your accounting firm’s plan post-tax season?

    With spring comes the promise of warmer temperatures, irises and snapdragons, along with March Madness college basketball rivalries and the start of baseball season. While tax accountants may not be able to see the light at the end of the busy season tunnel yet, the spring is sure to come.…
  • Three ways to keep your best employees from leaving your firm

    A few decades ago, it was fairly common for a person to secure a job immediately following graduation from school and remain with the company until retirement. Those days are gone, and now, hanging on to top talent is a significant concern for most employers. In October, PayScale, the online…
  • How is your accounting firm leveraging social media to reach prospective clients?

    “Let’s connect on LinkedIn…” This phrase has become almost as common as exchanging business cards when at an industry event or conference. Perhaps you’ve even used the phrase at the grocery store or the gym. The question is no longer if you’re on the social networking site, but whether you…
  • What's ahead in 2015? 9 Trends accounting firms should look for in the New Year

    No matter your goals, the New Year is an opportunity for a fresh start both personally and professionally. To set yourself up for success professionally, you must be willing to understand the importance of and deliver on new trends, needs and expectations. It is no different for accounting firms. In…
  • What to get for the accountant who has everything

    The “most wonderful time of the year” is officially in hyper drive. The hand-print turkeys are now a distant memory and you’ve fought your way out of the Thanksgiving food coma. Before you know it, you’ll be ringing in 2015 and busy season will have you funneling coffee instead of…
  • Thought starter: Top challenges accountants face and actionable ideas to solve them

    Comedian and television writer/producer Larry David has said, “I'm not a person who embraces challenges. I run from challenges. I break world records running from challenges.” Humor aside, accountants don’t have the luxury of thinking that way. While accounting was identified as the most profitable industry of the last 12…
  • 3 Steps to becoming the Steve Jobs of accounting

    Steve Jobs. Sergey Brin. Mark Zuckerberg. Each of these individuals, and their companies, are celebrated as changing the face of the technology. They all followed a similar path to success: excelling at one thing and developing that specialty. Jobs knew gadgets, which led to the Mac, the iPod, and the…
  • What are the best cities for accounting pros?

    Are you considering expanding your firm to a new location, or perhaps looking at recruiting outside of your immediate geographic location? Maybe an accountant looking to change jobs? Accounting Today recently highlighted 10 cities that are growing for CPAs and accountants, according to a list from Accounting Principals, a nationwide…
  • Poll: How much is thought leadership and content marketing used at your firm?

    ProfitCents by Sageworks recently hosted a webinar, Content Marketing Strategies, which discussed how to effectively implement and use thought leadership in your accounting firm. Rob Nance, director of content marketing & consulting services at Inovautus Consulting, explained ways to overcome the most common challenges in creating thought leadership. During the…
  • 6 Reasons why your accounting firm should establish an industry niche

    Thirty-five percent of buyers for accounting services use expertise and specialization as a deciding factor when selecting a firm. Benefits to developing a firm focus include establishing a competitive edge in the marketplace, building your accounting practice’s credibility and winning and retaining more clients. Download this infographic to learn the…
  • Why U.K. accountancy pros use ProfitCents

    Accountancy professionals aim to have the expertise and tools to address customer needs, but this can be difficult, given the many demands on firms. That is why accountants in the U.K. who are looking to win new clients and increase engagements use ProfitCents, the leading solution for analysing small- and…
  • How accountants can win new clients

    Accounting firms oftentimes abandon a marketing plan for fear they don’t have the budget to successfully win new clients. This checklist provides 9 steps to create a plan of action to win new clients at low-cost.     Download this checklist to learn the six key questions accountants can ask that…
  • ProfitCents U.K. enhances industry benchmarking

    Sageworks, the maker of ProfitCents, has enhanced its ProfitCents U.K. platform to add real-time industry averages so that accountancy firms across the U.K. can show clients the most up-to-date and accurate trends in their industries. Providing these types of value-added services can help accountancy firms win and retain more clients. …