Firm operations

TOPICS / FIRM PRACTICE MANAGEMENT

January 31, 2024

Finance leaders have trust issues with their data

Almost 40% of CFOs in a global survey do not completely trust the accuracy of their organization’s financial data, and trust is even lower for finance leaders who are closer to the numbers.

January 4, 2024

Gen AI, business model transformation, and more with AICPA & CIMA CEO

The CEO of AICPA & CIMA explains how the move by private-equity investors into accounting is just one step in firm transformation and why a world “devoid of trust” needs accountants.

January 1, 2024

Oh BOI: The Corporate Transparency Act and CPA firms

The self-reporting requirements of the Corporate Transparency Act will affect many small and midsize businesses as well as sole practitioners — the bread-and-butter client base for most CPA firms. CPAs may face professional liability risk for a client’s noncompliance with the law, which includes new reporting requirements related to beneficial ownership information (BOI).

January 1, 2024

Tips for a better tax season

Practitioners should address tax provision changes and practice management issues.

November 1, 2023

QM is approaching faster than you think — get ready

Tips to catch up on implementing new quality management standards that firms offering audit and accounting services need to put into practice.

October 1, 2023

Generative AI and risks to CPA firms

Generative artificial intelligence platforms such as ChatGPT provide many opportunities for CPA firms, but there are also risks that should be considered before jumping in.

October 1, 2023

Navigating change

Becky Munson, CPA, Partner, Cloud Accounting Services, Eisner Advisory Group, LLC, talks about her experience spearheading the process of combining two CAS practices due to a firm merger.

October 1, 2023

MAP Survey shows firms on upward trajectory

Benchmarking study finds revenue and profit growth, also identifies areas where accounting practices could bolster their appeal for talent.

October 1, 2023

Leveraging advanced tech

Dean Sonderegger, Senior Vice President and General Manager Research & Learning, Wolters Kluwer Tax & Accounting North America, discusses how AI is transforming the accounting profession.

September 5, 2023

ESOP exploration: Can the ‘new’ ownership model age well?

As one of the nation’s largest CPA firms announces the formation of an employee stock ownership plan, the managing partner at a midsize firm entering its third decade as an ESOP shares some perspective.

September 1, 2023

Innovation for the modern accounting firm

Cathy Rowe, Vice President and Segment Leader, US Professional Market, Wolters Kluwer Tax & Accounting North America, discusses why innovation is critical to the modern accounting firm’s success.

August 1, 2023

Succession and practice continuation agreements

Entering into a practice continuation agreement with another CPA can help you plan and prepare for the unimaginable, giving you, your clients, and your next of kin some peace of mind.

June 20, 2023

Why accounting firms need a strong strategic plan

As accounting firms look to transform their business model to keep pace with marketplace and demographic changes, it is imperative that they have a written strategic plan. This article outlines the plan’s elements and explains their value.

May 1, 2023

Bad billing practices can affect malpractice risk

Billing and collection practices may not be perceived as a professional liability risk issue, but proactively managing this risk is important to more than just a firm’s financial health. Learn why.

April 20, 2023

How one firm transformed its partner compensation model

A firm leader and one of the firm’s income partners go into detail on how the firm’s approach to partner compensation has created a more unified work environment.

March 30, 2023