Choosing Accounting Practice Management Software: Expert Tips
When you are just starting your journey as an accounting firm owner, everything seems shiny – especially in accounting tools. In today’s day and age, with so many options of accounting tools and software available in the market, it is easy to perceive anything and everything as useful. As you begin to work in real-time, […]
Tax Fraud: Signs, Types, and Penalties of Tax Evasion
Every year, tax professionals gear up for the annual tax filing rituals. Collating the documents, making meaning out of them, and ensuring that everything is done accurately. Tax season is chaotic in itself, but there is another aspect to it, the dark side – tax fraud. While there is one form of fraud where your […]
Tax Season Stress and Madness: Selfcare During the Peak Season
On the technical side, tax season is about filing at the right time, ensuring all documents have been uploaded correctly and the clients get the maximum returns, there is something inherently critical for tax professionals – to survive the tax season chaos. This season brings a whirlwind of stress and anxiety due to the long, […]
Why Accountants Quit Public Accounting Firms
As people leave an organization, there is a significant increase in pressure on the ones who stay. And this is a continuous loop. Since 2020, more than 3 lakh accountants have already quit their jobs and more continue to do so. While everyone in the accounting profession is aware of the declining number of resources […]
Must have Soft Skills for Accounting Firm Leaders and CPAs in 2024
As accounting firm leaders, it is no longer enough to ace the art of balancing books – the profession has evolved over the years and they now need to balance several other aspects to become successful. Technical prowess, accuracy, and attention to detail to avoid errors are only a part of it; the accounting leader’s […]
How to Set Goals with Your Accounting Team This Busy Season?
As the busy tax season approaches, accounting firms often struggle. There is a sudden spike in the workload, tight deadlines, and extraordinary pressure on the accountants to deliver accurate and timely services. No matter how much accountants like their job, they dread the busy season. Long hours, all-nighters, and no time for family, when coupled […]
Accounting Burnout: Meaning, Signs & Tips to Tackle Bookkeeping Fatigue
A recent study has showcased that a whopping 99% of accountants suffer from some level of burnout. This number is not just alarming in terms of the mental health of these professionals. The same study also shows that this high level of burnout leads to errors in the books. Nearly 49% of the accountants had […]
How to draft a new AI policy for your accounting firm or CPA practice
Artificial Intelligence has truly enabled evolution, especially for niche fields like accounting. As we continue to reinvent the way accounting businesses work, it becomes critical for CPA firms to draft policies around AI. While AI helps simplify complicated jobs and makes space for accountants to focus on tasks that truly matter, AI also poses a […]
How to Set Accounting Compensation to Attract Top Talent?
They say, “Money can’t buy happiness”. But that is most certainly not true when it comes to hiring talented employees for your accounting business. Since the pandemic, the accounting field has been struggling to find candidates with the right skill set even at record compensation. Challenges like the retirement of boomer accountants, the modern generation […]
Start an Accounting Firm or CPA Practice: 9 Things to Know
Starting an accounting firm doesn’t have to be as difficult as you think. We are in times when startup culture is dominant. The youth are ambitious, focused, and full of dreams. But it is not enough to just dream. As the young generation of accountants steer away from the regular 9-5, aim for a career […]