The average starting salary for accounting undergrads this year is projected to be $58,508, up from $52,734 in 2020. That 10.9% increase is quite the jump over last year when the average starting salary was expected to increase by only 0.4% for the class of 2020. This brings tremendous pressure Read more…
Successful implementation of a Client Advisory Practice requires a shift for many accounting firms. The industry has historically maintained a responsive “service” mindset, where firms have demonstrated value by responding to client requests. CAS requires a more proactive partnership mindset, where firms demonstrate value by helping their clients identify their Read more…
While Client Advisory Services (CAS) offer significant revenue opportunities, there are challenges to a successful implementation. Client Satisfaction Only about 15% of firms say they are “very satisfied” with the financial and operational performance of their client accounting services, and 40 percent are merely “satisfied.” Pricing Many firms are trying Read more…
There is general agreement in the industry that Client Advisory Services (CAS) present one of the biggest revenue growth opportunities for accounting firms. Many accounting firms in the US offer their clients some form of CAS offering – but what services they contain vary greatly. General categories include Transactional, Strategic, Read more…
Large accounting firms are increasingly opening offices oversea to solve their capacity and capability challenges. If you are a small/medium sized accounting firm and you want to take a similar approach to optimizing your client accounting services, you have three options: Build and manage your own overseas team yourself, similar Read more…
Over the past 20 years I’ve been involved with a dozen or so small/medium sized businesses in various industries, as either a founder, advisor or member of the management team. In every company I’ve always leveraged outstaffing using a Team Extension Model (TEM) to grow my businesses. Now at Accsurant Read more…
If you’re a successful partner at your practice then you understand the importance of knowing your customers. You also know that CPA firms are being tasked with delivering more value to their clients. This means shifting your relationship from “transactional services” to becoming a “trusted advisor.” Covid-19 now makes this Read more…
I’ve been talking with partners in dozens of CPA firms about how they are weathering the pandemic and how this compares to past recessions. As a recovering “serial entrepreneur” I’ve owned businesses during Black Monday 1987, the dot-com crash of 2000, the telco crash in 2001, and the 2008 financial Read more…