Issues Trends Survey ETC - birmingham-mmg.org · Value pricing and value billing as a % of total...
Transcript of Issues Trends Survey ETC - birmingham-mmg.org · Value pricing and value billing as a % of total...
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Top Issues/Trends/MAPCase Study
November 25, 2019
Carl Peterson, CPA, CGMA, VP – Small Firm Interests - AICPA
2019 PCPS CPA Firm Top Issues
2019 PCPS CPA Fi rm Top Issues Survey
Sole practitioners 2–5 professionals 6–10 professionals 11–20 professionals 21+ professionals
1Keeping up with changes and complexity of tax laws
Finding qualified staff Finding qualified staff Finding qualified staff Finding qualified staff
2Managing privacy / security risks
Keeping up with changes and complexity of tax laws
Keeping up with changes and complexity of tax laws
Keeping up with changes and complexity of tax laws
Retaining qualified staff
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Keeping up with changes in technology and managing associated costs
Managing privacy / security risks
Seasonality / workload compression
Seasonality / workload compression
Managing work / life balance initiatives
4Technical training of owners/partners and staff
Seasonality / workload compression
Managing privacy / security risks
Retaining qualified staff Owner/partner accountability and unity
5Seasonality / workload compression
Developing and executing a succession plan
Developing and executing a succession plan
Managing privacy / security risks
Seasonality / workload compression
Managing privacy / security risks
The Next 5
2019 PCPS CPA Firm Top Issues Survey
Sole practitioners 2–5 professionals 6–10 professionals 11–20 professionals 21+ professionals
6Client perception of value and willingness to pay for add’l work
Keeping up with changes in tech and managing costs
Retaining qualified staff (at all levels)
Effective utilization & mgmt of staff
Managing privacy/security risks
7Leveraging technology to enhance client service
Retaining qualified staff (at all levels)
Keeping up with and implementing new acctg & attest stds
Keeping up with and implementing new accotg & attest stds
Fee pressure/pricing of services
8Meeting clients' expectations and need for real-time information
Keeping up with and implementing new acctg& attest stds
Develop an entrepreneurial spirit among staff to enhance their client/industry-specific knowledge
Client perception of value and willingness to pay for add’l work
Modifying the firm’s business model to maintain relevancy into the future
9Keeping up with and implementing new acctg& attest stds
Leveraging technology to enhance client service
Managing work/life balance initiatives
Managing work/life balance initiatives
Leveraging technology to enhance client service
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Fee pressure/pricing of services
Technical training of owners/partners and staff
Keeping up with changes in tech and managing costs
Lack of staff interest in being on traditional partner track
Effective utilization & mgmt. of staff
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2019 PCPS CPA Firm Top Issues – Impact Over Next 5 Years
PCPS Update
Sole practitioners 2–5 professionals 6–10 professionals 11–20 professionals 21+ professionals
1Changing Client Needs Staffing Staffing Staffing Staffing
2Regulatory Environment
Changing Client Needs
Changing Client Needs
Changing Client Needs
Emerging Technologies
3 Competition Regulatory Environment
Regulatory Environment
Regulatory Environment
Changing Client Needs
4Emerging Technologies
Emerging Technologies
Emerging Technologies
Emerging Technologies Competition
5 Staffing Competition Competition Mergers / Consolidations
Mergers / Consolidations
MAP Survey Case Study
Filters
• Filters– Firm revenues 500K to 1M
– 1 or 2 Equity Partners
• Regions– Northeast 0%
– Midwest 100%
– South 0%
– West 0%
• Survey respondents– 65 firm respondents in filter range
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Major Service Lines
Tax, 71%
Audit/Assurance, 8%
Client Acctg, 14%
Advisory/consulting, 5%
Other, 3%
Firms Service Line with Highest Major Revenue %
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
Firm Revenues – Firm vs Firm Avg
Tax - Indiv., 49%
Tax - Business, 12%
Tax - Other, 1%
Comp/Review, 7%
Audit/attest, 0%
Client Acctg, 15%
Other, 10%
Case Study Firm
Tax - Indiv., 25%
Tax - Business, 20%
Tax - Other, 4%Comp/Review, 14%
Audit/attest, 14%
Client Acctg, 13%
Other, 10%
108 Firm Avg
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
Billing Protocols – Firm vs Firm Avg
Value, 25%
Hourly, 20%Fixed, 25%
Per tax form, 30%
Other, 0%
Case Study Firm
Value, 19%
Hourly, 41%
Fixed, 23%
Per tax form, 16%Other, 2%
108 Firm Avg
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
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716,352
585,913
650,000
788,945
0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000
2017
Net Client Fees Earned
75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
4.00%
-1.00%
4.00%
8.00%
5.95%
-2% -1% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9%
2017
Net Client Fees % Change from Prior Year
Top Firms 75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
358,176
385,574
525,000
645,060
0 100,000 200,000 300,000 400,000 500,000 600,000 700,000
2017
Net Client Fees per Partner
75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
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143,270
113,885
142,460
176,798
0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000
2017
Net Client Fees per FTE Professional
75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
158,673
111,849
176,953
231,018
0 50,000 100,000 150,000 200,000 250,000
2017
Net Remaining for Ptrs/Owners
75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
Firm Expenses – Firm vs Firm Avg
Salaries, 30%
Pmt to retired ptrs, 0%
Retirement plan, 1%
P/R Tax & other, 6%
Occupancy, 14%
All IT, 17%
Other, 34%
Case Study Firm
Salaries, 50%
Pmt to retired ptrs, 2%
Retirement, 2%P/R taxes/other,
8%
Occupancy, 9%
All IT, 8%
Other, 22%
108 Firms Average
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
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16.47%
22.18%
32.32%
38.16%
31.50%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
2017
Salary (excluding ptr/owner) as % of Net Client Fees
Top Firms 75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
5.00%
3.00%
3.00%
5.00%
5.00%
0% 1% 2% 3% 4% 5% 6%
2017
Avg Annual Base Salary % Increase
Top Firms 75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
7.69%
4.16%
5.49%
7.51%
4.60%
0% 1% 2% 3% 4% 5% 6% 7% 8% 9%
2017
Office Rent as % of Net Client Fees
Top Firms 75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
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3.29%
3.37%
5.42%
8.09%
3.20%
0% 1% 2% 3% 4% 5% 6% 7% 8% 9%
2017
Software/Outsourced IT/Other IT as % Net Client Fees
Top Firms 75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
0
0
0
0
0
150
100
99
85
75
180
130
125
100
78
200
150
155
125
89
0 50 100 150 200 250
Equity Ptrs
Sr. Mgrs 8-10yr
Mgrs 6-7yr
Sr. Assoc. 4-5yr
Assoc. 1-3yr
Avg Hourly Rate by Position
75th percentile
50th percentile
25th percentile
Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
1,800
2,349
0
0
0
1,000
1,184
1,176
974
1,002
1,250
1,410
1,427
1,412
1,400
1,424
1,775
1,580
1,692
1,619
0 500 1,000 1,500 2,000 2,500
Equity Ptrs
Sr. Mgrs 8-10yr
Mgrs 6-7yr
Sr. Assoc. 4-5yr
Assoc. 1-3yr
Avg Chargeable Hours by Position
75th percentile
50th percentile
25th percentile
Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
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87%
113%
0%
0%
0%
48%
67%
41%
44%
61%
63%
75%
67%
72%
71%
82%
84%
77%
83%
79%
59%
69%
69%
74%
73%
0% 20% 40% 60% 80% 100% 120%
Equity Ptrs
Sr. Mgrs 8-10yr
Mgrs 6-7yr
Sr. Assoc. 4-5yr
Assoc. 1-3yr
Firm Utilization % by Position
Top Firms
75th percentile
50th percentile
25th percentile
Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
96,565
71,710
0
0
0
87,500
58,713
39,746
42,060
30,000
123,275
71,710
60,013
54,000
40,185
189,763
82,917
74,442
64,500
44,459
0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000
Equity Ptrs
Sr. Mgrs 8-10yr
Mgrs 6-7yr
Sr. Assoc. 4-5yr
Assoc. 1-3yr
Avg Compensation by Position
75th percentile
50th percentile
25th percentile
Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
86%
90%
97%
100%
75% 80% 85% 90% 95% 100% 105%
2017
Firm Realization %
75th percentile 50th percentile 25th percentile Firm
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
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Issues/Opportunities – Small Firm• Revenue service lines
– Heavy individual practice
• Billing protocols
• Technology leverage
• Staff burnout
– Average charge hours
– Realization vs Utilization
Revenue 500K – 1M 1 - 2 Equity Ptrs (65 firms)
Hourly-based billing as % of total revenues
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71%
81% 80%
86% 85% 85%90%
60% 59% 60%
76%80%
75%
63%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<$200k $200k<$500k $500k<$750k $750k<$1.5M $1.5M<$5M $5M<$10M $10M and up
2015 2017
PCPS MAP SURVEY
Value pricing and value billing as a % of total revenues
Supporting copy goes here, Arial Regular
Supporting copy goes here, Arial Regular
Supporting copy goes here, Arial Regular
40%
20%
10%
15%
10%
5%
0%
50%
40%
23%20%
15% 15% 15%
0%
10%
20%
30%
40%
50%
60%
<$200k $200k<$500k $500k<$750k $750k<$1.5M $1.5M<$5M $5M<$10M $10M and up
2015 2017
PCPS MAP SURVEY
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Growing demand for planning & tax advisory services
2 out of every 3affluent individuals say tax knowledge tops the list of
important considerations when selecting a financial adviser
(1st Global)
10,000baby boomers are turning 65
every day over the next 10 years
(Pew Research Center study)
CPA firms identified core areas of financial planning
as high growth niche services
(Accounting Today Top 100 Firms, 2018)
financial planning is growing2x faster
than tax preparation services alone(IBIS World )
$30 trillion baby boomer wealth
transfer over next 20 years(The Wall Street Journal)
15% growth in demand for personal
financial advisers(U.S. Bureau of Labor Statistics)
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Technology
Building a solution to support all assurance services
Dynamic Audit Solution
Under DevelopmentIn the Market
Dynamic Audit Solution
OnPoint PCR and RIVIO
Attestation and Advisory
Fully-integrated solution covering the suite of CPA assurance engagements:
Longer Term Vision
OnPoint PCR and RIVIO
OnPoint PCR• Content and
methodology for prep, comp and review authored into cloud platform
RIVIO• Secure digital
delivery of financial information
• Addresses challenges around centralizing and managing report issuance
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AICPA Watchlist
https://www.aicpa-cima.com/shaping-tomorrow/watchlist.html
BlockchainArtificial intelligenceRoboticsNatural capital concernsBanking evolutionQuantum computing
Go Beyond Disruption Podcasts
Weekly insights help you leverage disruption today to prepare you for tomorrow• Human intelligence: Will robots take my job?• Getting ready to be paid in crypto currency• Why RPA is for everyone• Tech trends to watch• The promise of technology
What tech will your firm of the future be leveraging?
What resources do you need to make that happen?
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Services
CAS practices are growing more than
2X the median CPA firm growth rate
Source: AICPA and CPA.com, CAS Benchmark Survey 2018
Client accounting advisory services (CAS)
Growing demand for planning & tax advisory services
2 out of every 3affluent individuals say tax knowledge tops the list of
important considerations when selecting a financial adviser
(1st Global)
10,000baby boomers are turning 65
every day over the next 10 years
(Pew Research Center study)
CPA firms identified core areas of financial planning
as high growth niche services
(Accounting Today Top 100 Firms, 2018)
financial planning is growing2x faster
than tax preparation services alone(IBIS World )
$30 trillion baby boomer wealth
transfer over next 20 years(The Wall Street Journal)
15% growth in demand for personal
financial advisers(U.S. Bureau of Labor Statistics)
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How do clients see financial planning?
If you do any combination of these, you are a PLANNER
Financial Planning Services
Tax
Estate
Education
Charitable
Retirement
Investments
Future-proof your services to individuals37
Who else is providing financial planning services?
Business owner
planning
Tax planning
Cash flowplanning
Estate planning
Retirement planning
Investment planning
Insurance planning
Cha
nnel
s
CPA firms
RIA
Wirehouse
Independent B/D
Insurance
Banks
Law firms
Service base –over 90% of practices offer this service
Established trend –Over 75% of practices offer this service
Developing trend –growing number of practices offering this service
Planning services footprint
Legend:
Internal analysis based on Ceruli’s U.S. Advisor Metrics
2016 report, internal data and other sourcesFuture-proof your services to individuals38
The PFP Certificates
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Retirement Planning Certificate
6 modules of online learning with 20 hours of CPE
• Retirement Planning Process
• Governmental and Employer Retirement Plans
• Personal Retirement Investments, Income & Expenses
• Analyzing Client Retirement Data
• Creating Implementing and Monitoring the Plan
• Elder and Special Needs Planning
Pass the online Proctored exam to earn the digital badge/certificate
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Estate Planning Certificate
8 modules of online learning with 19 hours of CPE
• Estate Planning Process
• Trusts and Estate Planning Documents
• Basic Estate and Gifting Strategies
• Advanced Estate Planning Strategies
• Closely Held Business Estate Planning
• Incapacity and Postmortem Estate Planning
• Integrating Estate Planning w/the Tax & Financial Plan
• Charitable Planning
Pass the online Proctored exam to earn the digital badge/certificate41
Investment Planning Certificate
8 modules of online learning with 18.5 hours of CPE
• Investment Planning Process
• Investment Data Gathering and Analysis
• Creating the Investment Policy Statement
• Portfolio Management
• Investment Vehicles and Strategies
• Investment Monitoring and Updating
• Integrating Investments with the Financial Plan
• Education Planning
Pass the online Proctored exam to earn the digital badge/certificate42
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Risk Management and Insurance Planning Certificate
8 modules of online learning with 20 hours of CPE
• Risk Management Planning Process
• Insurance Contracts and Needs Analysis
• Life Insurance
• Annuities
• Medical, Disability, and Property and Casualty Insurance
• Group Insurance and Employee Benefits
• Executive and Deferred Compensation Arrangements
• Financial Planning with Business Owners
Pass the online Proctored exam to earn the digital badge/certificate43
PFP Practical Applications Certificate
6 modules of online learning with 20 hours of CPE
• PFP Standards and Responsibilities• PFP Regulatory and Fiduciary Landscape• Personal Financial Planning Process• Cash Management Strategies• PFP in Practice, Part 1 and Part 2 (Case studies)
The digital badge/certificate will be issued upon completion of all 5 modules, no proctored exam is required for this certificate.
Sales training for the CVFI credential44
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What services will your firm of the future be offering?
What resources do you need to make that happen?
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Keeping up with change
Keeping up with changing tax laws/regulations
• Sec 199A flowchart
• Reform Guide
• TCJA Supplement
• Planning toolkit
• Planning letters
• Video/Webcasts
• Engagement ltrs
• Organizers
• Checklists
• Practice guides
• Podcasts
• Alerts
• Tax tech resources
• Tax issues FAQs
• Practice mgmt
PEEC Standards InterpretationHosting Services - Examples• Becoming the sole host of a client’s financial or non-
financial information system
• Serving as custodian for the client’s data in such a way that the client’s data is incomplete and accessible only through the CPA
• Providing business continuity or disaster recovery services to the client
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Hosting Services – Answers/FAQs• AICPA Professional Ethics Division
– FAQs: Nonattest services (As of February 25, 2019)
– AICPA is developing resources to assist CPAs in implementing the standard, scheduled EOY 2019
– Ethics hotline: [email protected]
• Ethics Podcasts
• Cathy Allen, CPA www.auditconduct.com
– JofA article authored by Cathy Allen
– Scenarios/examples that create hosting situations and examples that do not violate the standard
Upcoming StandardsOver the past six months, the ASB at the AICPA issued a number of new auditing standards:
• SAS No. 134,135,136, & 137
PLUS additional changes are coming due to accounting standards:
• Revenue Recognition
• Leases
• Hedging
• Credit Losses
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We’re here to help!
There are several tools and resources available:
• Financial Reporting Center (aicpa.org/frc)
• At-a-glance summaries, FAQs, news articles & more
• AICPA Technical Hotline (aicpa.org/research/technicalhotline)
• Provides non-authoritative guidance on accounting, auditing, attestation, and SSARS standards for AICPA members.
• Center for Plain English Accounting (aicpa.org/cpea)
• AICPA’s national A&A resource center, sponsored by PCPS. Additional membership required.
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Advocacy! Technical Issues Committee (TIC)
TIC is a committee of CPA practitioner volunteers working to represent the views of local firms and their clients in the standards-setting process.
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Analyze data
Detect trends
Collect data
Take action
Enhancing Audit Quality(EAQ) initiative
Free resources at aicpa.org/EAQ
• Risk assessment• Internal control• Documentation• Auditing accounting estimates• SOC reporting
What do you wish you had to keep up with changing reguationsand standards?
Staffing/Pipeline
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How should CPA licensure evolve?
Visit EvolutionOfCPA.org
CPA evolution
Technological innovation
New client and business demands
Changes to CPA core services
CPA EVOLUTION
EvolutionOfCPA.org
CoreBody of
knowledge
Compared to 1980, today there are:
3X as many pages in the Internal Revenue Code
4X as many accounting standards
5X as many auditing standards
Body of knowledge for newly licensed CPAs is growing…
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CoreCore
Demands of practice require deeper skillsets
• Critical thinking• Professional judgment/skepticism• Problem solving• Understanding of business
─ Systems, controls, risk• Data management and analysis• SOC engagements
Body of knowledge for newly licensed CPAs is growing…
Body of knowledge
CPA=CoreCOREACCT : AUDIT : TAX : TECH
POSSIBLE LICENSURE MODEL
• Strong core with accounting, auditing, tax and technology
• Deeper knowledge in three primary disciplines
• Reflects reality of practice• Adaptive and flexible• One CPA license• Enhances public protection
CoreCOREACCT : AUDIT : TAX : TECH
POSSIBLE LICENSURE MODEL
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What are the staffing needs of your firm of the future?
What resources do you need to make that happen?
International
International influences on practice management- IAASB (International Auditing & Attest Standards Board)
- IESBA (International Ethics Standards Board for Accountants)
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What else will your firm of the future need to think about…IFRS, Global Regulations, access to tools & information?
Other
Accounting Advisory Council Toolkit for Practitioners and Firms
PCPS Update
• Benefits for your firm
• Maximizing success
• Suggestions to improve or encourage change
• Advice on how to get involved or lead the formation at a local university
• Testimonials / interviews from active practitioners
aicpa.org/pcps/aac
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Succession Podcast Series
Exclusive content available only to PCPS members. Learn from Joel Sinkin, Terry Putney and Bill Carlino• Single Owner Series:
− Creating a succession plan
− Due diligence
− Valuation
− Maximize client retention
• Multi-Partner Series:
− How to admit new partners
− How to close your merger
− Internal succession and bench strength
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Go Beyond Disruption Podcasts
Weekly insights help you leverage disruption today to prepare you for tomorrow• Human intelligence: Will robots take my job?• Getting ready to be paid in crypto currency• Why RPA is for everyone• Tech trends to watch• The promise of technology
Small Firm Philosophy Podcasts
• Inside a virtual firm• Firm culture• Growing through M & A• Risk assessment• Series on value billing
• https://podcasts.google.com/?feed=aHR0cDovL2FpY3Bhc21hbGxmaXJtLmxpYnN5bi5jb20vcnNz&episode=OGQyYzZjZTExNWY4NGZiOTg5NjcyNmQzMTAzOWF
iZTU&hl=en&ved=2ahUKEwj_yuSE9a_lAhULbawKHVcpCo8QieUEegQIABAI&ep=6&at=1571748953391
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The Small Biz Brunch Podcasts
Introduce millennial all-stars – small business owners, entrepreneurs, freelancers – along with a cool, millennial CPA• Spooky small biz money myths• So you want to start your own small biz• Leaving your job and monetizing your passion• The financial side of work-life balance• Cryptocurrency and small business• Revenue recognition and small business
PCPS WebcastsWe’ve partnered with CPAFMA on MAPCasts!
• PCPS members can now attend at the CPAFMA member rate
• Topics covering current practice management, the latest trends, best practices and developments
• CPE eligible
• Registrants receive recorded session via email
• Learn more at https://cpafma.org/webcast.php
AICPA/PCPS Resources
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PCPS Web Tour
Firm Practice Management:• Resource Centers• Toolkits• Communications• Events, such as networking groups and web
events• Discounts on AICPA conferences and
publicationsAdvocacy• PCPS provides the small and medium firm
perspective to standard setters through its Technical Issues Committee (TIC)
Topics Overview:• Strategy & Planning• Practice Growth & Client
Service• Human Capital• Technical: Quality and
Services Delivery• Financial and Admin
Operations
Sign up online!Every other Thursday at 1 PM ET.
Share with others in your firm so they can learn more!
PCPS activities
• Small firm philosophy podcasts continue to be popular
• Firm practice management blogposts spotlight our resources
• 2019 ENGAGE was a big success• 2020 ENGAGE planning underway
Mark your calendar!
2020 ENGAGE
June 7 – 11, 2020
Aria Resort, Las Vegas
aicpaengage.com
Resources to help• Practice Growth & Client Service
• AICPA’s Tax Practitioners Marketing Toolkit
• Firm inMotion e-Toolkit
• Expand Service Offerings• Client Accounting Advisory Services:
CPA.com and PCPS CAS Benchmarking Survey
• Cybersecurity Assurance and Consulting
• AICPA’s Cybersecurity Resource Center
• PCPS Exploring Cybersecurity Toolkit
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Resources to help• Improve Turnover / Staffing Initiatives
• PCPS Diversity & Inclusion Toolkit –including a resource on Conducting “Stay Interviews”
• PCPS Mentoring and Coaching Guides
• PCPS Human Capital Resource Center
• Billing Practices • Trusted Client Adviser Toolbox
• Pricing Tool
• Overcoming Pricing Objections Tool
© 2019 Association of International Certified Professional Accountants. All rights reserved.
TOP ENGAGED CONTENT OF 2019Share these trending articles on your personal and professional channels.
PROFESSION ISSUES• Keeping pace in a tax environment that never slows. A blog highlighting proposed changes to
AICPA’s Statements on Standards for Tax Services (SSTSs). Click to share.
• Don’t overlook this crucial part of estate planning. An overview of how to properly help clients plan for the future and how the TCJA can impact estate planning. Click to share.
• Enabling finance as a business partner. An article about the value of integrated business planning (IBP) to support business growth. Click to share.
• #CPAPowered national awareness campaign. A series of short, humorous videos that highlight the value CPAs bring to small businesses. Click to share.
TECHNOLOGY
• The 5 questions CPA leaders should ask every week. An article about challenging your assumptions. Click to share.
• Watchlist for future finance innovators. A high-level review of technology that will revolutionize the accounting profession. Click to share.
HUMAN SKILLS
• Are you overlooking emotional intelligence in your career? A blog discussing how emotional intelligence can help you get ahead. Click to share.
• Your stress isn’t just affecting you; it’s hurting business. An article outlining tips on how to manage stress levels during busy times. Click to share.
ACADEMIC AND STUDENT INITIATIVES
FOR STUDENTS AND GRADUATES
• ThisWayToCPA.com and StartHereGoPlaces.com – explore career pathways in accounting and find support on your journey to the CPA
• AICPA Legacy Scholarships and AICPA Foundation High School Scholarship – learn about financial assistance for students committed to pursuing CPA licensure
FOR TEACHERS AND PROFESSORS• Accounting Education Center – get the resources you need, including curated course materials, faculty
award programs and a dedicated education newsletter
• AICPA Minority Doctoral Fellowship, Accounting Doctoral Scholars and William Ezzell Scholarship –discover programs and financial support for CPAs pursuing their Ph.D.
• AICPA Accounting Program for Building the Profession – access information about a training program and curriculum to teach advanced accounting courses in high school
• Student Engagement toolkit – access presentations, talking points and more to help inspire the next generation of CPAs
• Accounting Accreditation Practitioner Engagement Program – help increase practitioner engagement in the accreditation process by participating in this program with
Want to know more?
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© 2019 Association of International Certified Professional Accountants. All rights reserved.
Share these AICPA resources and programs with students, graduates, CPA Exam candidates and academics to support and inspire future CPAs.
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© 2019 Association of International Certified Professional Accountants. All rights reserved.
For more resources, click here.
Your clients want one source to address all their financial needs. Access these AICPA resources to help.
TOOLS• Analysis of a tax return – see tax returns through a new lens. Identify clients’ financial planning needs
• Personal finance scorecard – help clients see where they need your expert guidance
• Adviser’s Guide to Financial and Estate Planning – advise clients for different financial scenarios
• Sec. 199A flowchart – use this tool to determine the Sec. 199A qualified business income deduction
• Tax Technology Resource Center – leverage the latest insights and tools to embrace technology trends in your tax practice
RESOURCES TO BUILD OUT YOUR PRACTICE
• Roadmap to developing a planning and tax advisory business – learn steps to grow your practice
• Planning and tax advisory services hub – get the why, what and how of growing your firm’s advisory services
• Tax Practitioner’s Marketing toolkit – explain key tax topics and develop stronger client relationships
AND A FEW MORE RESOURCES TO FUEL YOUR KNOWLEDGE
• PFP Certificate Program – take the next step to fine-tune your expertise in financial planning
• Human Intelligence series – sharpen critical ‘human’ skills such as people management and decision-making
PLANNING AND TAX ADVISORY SERVICES
© 2019 Association of International Certified Professional Accountants. All rights reserved.
For more resources, click here.
Thriving in the digital era requires both digital intelligence and human intelligence. Access these AICPA resources to guide you.
INSIGHTS
• Human Intelligence series – sharpen critical ‘human’ skills such as people management and decision-making through our library of resources, including a new eBook
• Go beyond disruption podcast – hear how to leverage technologies including blockchain, data analytics, robotic process automation and more, to bring greater value to your clients or organizations
• Go beyond disruption videos – expand your knowledge about disruptive technologies and processes such as blockchain and automation with these short videos
LEARNING PROGRAMS
• Data analytics – discover tools and insights to help you build and implement data-driven strategies
• Blockchain – build your knowledge about this rapidly developing technology and its growing impact on business
• Robotic process automation – find out how to leverage RPA for significant competitive advantage
• Cybersecurity – learn what you should be doing as a non-IT professional to help protect your clients or organization from cyber threats
GO BEYOND DISRUPTION
PCPS References and Contact Information
• PCPS Firm Practice Management Center –www.aicpa.org/pcps
• PCPS email address – [email protected]
• PCPS Webcasts – www.aicpa.org/pcps > PCPS Events & Webcasts
• PCPS Hotline – 800.CPA.FIRM (272.3476) or 866.835.2938, option #2
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Thank you© 2019 Association of International Certified Professional Accountants. All rights reserved. This presentation’s images are subject to copyright protection and used under license from third parties.Do not use images from this presentation in other presentations or documents without first consulting with Legal. The use of copyrighted images outside the licensed scope constitutes copyright infringement and subjects the user to monetary damages and other penalties.
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