August 12, 2020

Partners Corner

How’s Your Remote Plan Going? What Worked and What Didn’t? It’s Time to Move Forward

Hey there, denizens of Going Concern. If you are a managing partner or lead an HR department, please take the 2020 Anytime, Anywhere Work (ATAWW) Survey hosted by ConvergenceCoaching LLC. This survey will be used to identify trends on how accounting and consulting firms are handling the ongoing shift, as well as the overnight transition, to […]

Learn How COVID-19 Is Impacting Q2 Financial Disclosures—For Free!

In yesterday’s Accounting News Roundup e-newsletter, you might have noticed an ad for a free webinar on June 23, “Be Ready: Q2 Disclosures in Light of COVID.” (If you do not subscribe to ANR, you can do so here, thx.) Because the COVID-19 pandemic is affecting pretty much everything in life—yes, even public company financial […]

What Data and Analytics Skills Do You Need to Advance Your Accounting or Finance Career?

As we mentioned in our last article, data and analytics skills are becoming increasingly more crucial for accounting and finance professionals. These skills are in high demand across the industry—and by becoming data-fluent now, you can open up bigger career opportunities for yourself and perform your current job more effectively. But it’s not like you […]

When This Accounting Firm Touts Its Work/Life Balance, You Should Listen

During the nearly 11-year history of Going Concern, we’ve been cynical about a lot of things in public accounting but maybe none more so than when firms talk about how great their work/life balance is.  The Big 4 and the top midtier firms paint a rosy picture of how wonderful they treat their thousands of […]

How COVID-19 Warped Us Five Years Into the Future—And What That Means for Your Accounting or Finance Career

Tom Brady was a Patriot. The only “Tiger King” was Tony, and he was grrrrrr-eat! And hand sanitizer was just worth its weight in, well, hand sanitizer. All of these things were true at the end of 2019, and that was less than half a year ago. So why does it feel like another lifetime? […]

Friday Footnotes: Oh Not Again, KPMG; Deloitte Goes Viral With TP; PwC Is ‘Watching’ Staff | 6.12.20

KPMG Gets Reprimand From U.K. Regulator Over Reserves Audits [Bloomberg] The U.K.’s accounting watchdog reprimanded KPMG after the firm admitted shortcomings in three years of work for a client, which had to restate its distributable reserves twice. The Financial Reporting Council said the accounting firm admitted problems in its reserves audits of Foresight 4 VCT […]

Exclusive Interview: Spreadsheets Reveal Why They’re Terrible at Tax, Audit, Finance, and Accounting Analytics

We’ve been trying to track down Spreadsheets for a long time. We scoured the Negative Zone with the Richards/Storm family. We looked behind the expired potato salad in the office fridge. We even sent Geraldo to check Al Capone’s vault again (and, yep, it’s still pretty much empty.) We were hoping to ask Spreadsheets what […]

Keeping Cash Flowing In Turbulent Times

“Cash flow is top-of-mind for most clients,” reads an April 3, 2020 article in the Journal of Accountancy about how CPAs are supporting business owners through the COVID-19 crisis. Cash flow has always been an issue for business owners, and CPAs are always their trusted advisors, but if the coronavirus pandemic has taught us anything […]

An Interview with an Accounting Firm Partner ‘Mire-d’ In Client Service and Musicals

Welcome back to another installment of … uh … we never did name this series, did we? My bad. Well whatever, welcome back to another installment of us interviewing folks around the accounting profession who have mastered the art of working smarter, not harder. This series is brought to you by our friends at Gusto; […]

How Self-Service Analytics Will Boost Your Accounting or Finance Career In 2020

In 2020, self-service analytics could be the superpowered accelerator your accounting or finance career needs to get to the next level. Ten years from now, if you were to look back at your career like it was a superhero movie (and you will, of course—our Disney overlords will require it), everything before self-service analytics will […]

5 Times Modern Analytics Saved the Day In Accounting and Finance

Around the world and at businesses of every size, accounting and finance professionals are seizing the opportunity to make analytics their ultimate sidekick. Where there’s Batman, there’s a Batmobile—and for these folks, where there’s accounting and finance, there’s a custom-built, mega machine of a platform to assist in the day’s activities. Modern analytics is all […]

An Interview with a Paperless Practitioner Doing Things Her Way

Welcome back to the second in our series of interviews with Gusto partners who just so happen to be doing some pretty cool things out there in the exciting world of accounting. In case you missed the last one, we introduced you to Bruce Phillips of Aprio Cloud, all while extolling the virtues of payroll […]

Be Thankful For These Learning Resources This Thanksgiving

Hi there, you little turkeys. While you cower in the bathroom to avoid making eye contact with your creepy uncle Dan we’re here to give you some learning resources from our friends at Alteryx. Look, it beats trying to explain to your grandma for the 100th time why you became an accountant and not a […]

How Analytics and Chicken Sandwiches Can Put Time Back In Tax Professionals’ Days

The Chicken Sandwich War of 2019 was such an emotional firestorm, decorum prevents us from officially weighing in on the suddenly critical debate of which fast-food chain offers the best fried chicken sandwich (but seriously, it’s Chick-fil-A). We can, however, declare a winner in a different war, this time without the use of tongue-in-cheek parentheticals. […]

An Interview with an Accounting Firm Managing Partner Who Likes Sleep as Much as We Do

If you asked small business owners what it’s like to process payroll (or onboard employees, or set up insurance, or, well you get the hint), you would probably hear it described as “dull,” “time-consuming,” and “a big pain in the butt.” But what if payroll was actually “awesome,” “easy,” and “quick?” Shocking concept, we know. […]

How Accounting and Finance Professionals Can Use Data to Gain Superpowers

You read that right—when FP&A, accounting, tax, and audit professionals can proficiently read, work with, analyze, and argue with data, they gain superpowers. These powers give you the abilities to complete tasks with incredible speed, make decisions driven by uncanny wisdom, unleash spectacular results for clients, and ultimately gain an astonishing edge on your competitors. […]

millennials technology accounting jobs

3 Ways Millennials Changed the Accounting Industry with Technology

In the age of Instagram influencers and workplace beer gardens, millennials often get an unfair rap for communicating and working differently than their older office peers. While they may have grown up texting in lieu of talking and “dancing” with headphones at silent discos, like it or not, millennials are now the largest and most […]

accounting firm timesheet

4 Reasons the Accounting Firm Timesheet Must Evolve in 2019

It’s 4:45 on a Friday afternoon at Accounting Firm, USA. Fee earners are itching to start their weekends, but one final task remains. Before the happy hour beer taps can flow, before elated dogs (and disinterested cats) can greet their returning owners home, before the family can pile into the minivan and head out to […]

Why Accounting Is the Key to Expanding the Digital Nomad Movement

Getting paid to sit on a beach in Tahiti or ski a few runs at Whistler Mountain might sound a little too good to be true—if it were 2004. But with the power of reliable Wi-Fi and a trusty laptop, the age-old idea that traveling the world while earning a living is only a fantasy […]

cryptocurrency consulting accounting job

Should Cryptocurrency Consulting Be the Next Phase in Your Accounting Career?

Think the hype over cryptocurrency has reached its fever pitch? Think again—the crypto craze has only just begun. Businesses are increasingly viewing cryptocurrency as a viable investment. New tokens are gaining steam, and Bitcoin, the OG crypto cash, continues to trade at a frenzied pace. More than 200,000 Bitcoin transactions occur every day, and investors like […]

Mastering Data Analytics Can Make You a More Valuable Accountant

What can you do to make yourself more valuable to your organization? If you’re an accountant or if you work on a corporate finance team, becoming a master in data analysis is a big step forward. But why? And what does data analytics have to do with accounting? Accountants use data analytics to help businesses […]

DePaul University - Artificial Intelligence article

Should Accountants Be Worried About Artificial Intelligence?

Financial disciplines have long been the first thought-of areas where technology like artificial intelligence will cause dramatic disruption and upend entire ways of thinking. Accountancy is certainly no different from others in the finance umbrella, and we continue to see headlines explaining Why Artificial Intelligence is the Future of Accounting.  In many ways, the AI […]

accounting firm partner

How Accounting Firm Aprio Helped an Employee Make Partner at 32

The road to making partner at an accounting firm is often a long one. It generally takes about 10 to 15 years for a CPA to get to partner, so most accountants won’t receive an offer until their late 30s or even early 40s–if they ever get one at all. But at some firms, fast […]

should i get a MAC

How a Graduate Degree in Accounting Really Pays Off

You’ve decided that graduate school is the best way to bolster your resume, expand your career options, and, perhaps, move up the corporate ladder. Now what? The list of potential graduate degrees can seem intimidating – MAC, MBA, JD, MS, and more. How do you find the degree that makes sense to you financially and […]

big 4 international

Midsize Firms Are Stepping Up Their International Game to Compete with the Big 4

Globalization has reached a saturation point. For small and midsize accounting firms, the question of expanding internationally is not one of if, but when. Many firms have responded to the challenge, creating international capabilities that in some ways equal or even surpass that of the Big 4. A world of opportunity A 2016 survey by […]

aprio hpc acquisition

Why a Top 50 CPA Firm Just Acquired a Cloud Accounting Firm

The march toward proliferation of cloud accounting across the industry has taken another step. To meet the growing demand by global clients for anytime, anywhere access to financial information, Aprio, LLP, a full-service, CPA-led business advisory firm, has entered into an agreement to acquire HPC, a technology-driven, cloud-based accounting firm with a global footprint. We […]

Why I Have a Strictly Remote Workforce

In 2012, I started an accounting firm, although I didn’t realize that I was starting an accounting firm at the time. I was merely working under contract for a few businesses in the New Orleans area; as I got busier, I started to add help, and voila, Aguillard Accounting was born.

sox compliance blockchain artificial intelligence

Controllers Say AI and Blockchain on the Cusp of Transforming SOX Compliance

When asked whether artificial intelligence and blockchain will play a role in accounting and finance teams’ Sarbanes-Oxley compliance efforts in the near future, Brian Christensen said, without hesitation, “Absolutely.” “The question is, how far down the road is that?” said Christensen, executive vice president of global internal audit and financial advisory at consulting firm Protiviti. […]

xero cloud accounting

How Xero Helped a Cloud Entrepreneur Get to His Daughter’s Dance Recital

Going Concern is partnering with Xero, the innovative cloud-based accounting platform for small businesses, accountants, and bookkeepers, to bring our readers content about entrepreneurs who are starting their own firms. We hope you enjoy and welcome your comments. Jay Kimelman has served many roles in his life. CPA. SAP FICO Specialist at Siemens. CFO of […]

sox compliance

Controllers Talk About the Paths They’ve Taken Toward SOX Compliance

As we approach the “sweet sixteen” of the Sarbanes-Oxley Act later this summer, corporate controllers provided some perspective on how SOX compliance efforts have changed with the times and what challenges they continue to face. “I’ve seen quite a few SOX changes through the years and improvements to internal controls since the original COSO framework was […]

xero cloud accounting

How a Ridiculously Young Entrepreneur Grew His Cloud Accounting Firm

Going Concern is partnering with Xero, the innovative cloud-based accounting platform for small businesses, accountants and bookkeepers, to bring our readers content about entrepreneurs who are starting their own firms. We hope you enjoy and welcome your comments. Nick Pasquarosa is the type of guy you’d like to have a beer with. Speaking in a […]

floqast founders interview

FloQast Founders on Competition, Accountants as Entrepreneurs, and How Teamwork Makes the Dream Work

As a freshman at Syracuse University, Chris Sluty knew his buddy and fellow Syracuse accounting major, Michael Whitmire, would start his own business one day. “I remember telling Mike, ‘Let me know when you start something, and I’ll be there,’” Sluty recalled. And Sluty was right. After they graduated from Syracuse in 2006, Whitmire went […]

data analytics accountants

Why Does (and Why Should!) Data Analytics Matter to Accountants?

Successful accountants and business leaders who have mastered data analytics can provide unique insights, making them bigger assets to their organizations. “What do the numbers tell us?” “Let’s dig into the data!” “Can we analyze this in real-time?” It’s very likely that you’ve heard these expressions around the office. Big data. Data analytics. Data science. […]

make accounting partner

Four Strategies That Will Put You on the Partner Fast Track

About five years ago, we wrote an article on what it takes to get (and stay) on the partner track. TL;DR: you need to develop people skills, leadership skills, be proactive in finding new business, and play by the rules of the firm (DON’T pull a Charlie from It’s Always Sunny in Philadelphia and go […]

client selection

How One Firm Created a New Client Selection Model to Extinguish Employee Burnout

There are three types of accounting firm clients. Please forgive that previous sentence, which is absurdly reductive. Every client is different, and sorting them into three discrete groups only makes sense if you’re a blogger who wants to express a larger point about client selection that an accounting audience might find interesting. Which is what […]

business iq north carolina masters accounting

Five Ways That Accounting Knowledge Will Instantly Upgrade Your Business IQ

Business leaders who understand key accounting principles understand how money through their organizations, which, in turn, helps them make smarter decisions. Ever walked out of a meeting, or read a memo from the executive suite, and said to yourself “Why did they decide that?” Ever had an idea that you thought was great unceremoniously shot […]

work/life balance

Are All Accounting Firms That Claim to Have Work/Life Balance Lying?

“Our firm provides great work/life balance.” How many times have you read that in a job description and thought, “Riiiiiiight”? Don’t worry, you’re not a cynical curmudgeon. Everyone thinks this. And that’s because EVERY firm says it in their job postings. To most accounting firms, “Work/life balance” equates to a casual Friday once a month. […]

month-end close floqast

Here’s How Thrive Market Woke Up From Its Month-end Close Nightmare

Imagine a month-end close process in which the close checklist, reconciliation schedules, and general ledger are in three different places, making it a nightmare for management to know what’s ready for review, if mistakes had been made, and what deadlines had been missed. Sounds dreadful, doesn’t it? But that scenario used to be a reality […]

joey-havens-horne-client-service

Hard Questions on Client Service

The following sponsored content is by Joey Havens, the executive partner of Horne, LLP, an Accountingfly Firm Partner. Do you ever wonder what people outside your circle observe when they look at you? As a profession, if we really stepped back and reflected on our client service approach, what might we see about ourselves? One […]

HORNE

Leadership and Future-ready Accounting Firms: A Conversation with Joey Havens of Horne, LLP

The following conversation is sponsored by Horne, an Accountingfly Firm Partner. Earlier this year, we spoke with Joey Havens, the managing partner of Horne, LLP about complacency in the accounting profession. Since then, Joey Havens has written about the accounting profession’s leadership and planning for the future. Or lack thereof. He’s here again to talk […]

remote accountant cpa hpc

The Future of Remote Accounting Work with Bruce Phillips of HPC

Remote accounting work opportunities are rapidly increasing. And it’s a topic we are asked about almost every day. Where are the remote accounting opportunities? How do I know if a remote accounting job is right for me? What does the future landscape of remote accounting work look like? How do I build a remote firm? We […]

For Once, the Month-End Close Drives You to Drink for Fun

Please enjoy this sponsored content from FloQast. Join us on Thursday, May 18th from 6 to 8 p.m. for a happy hour panel discussion at the Stack Overflow office in New York City, where attendees can gain insight into best practices for managing the month-end close process. The panel will include accounting and finance executives […]

Are You Choosing to Be a Future Ready Firm?

The following is sponsored content by Joey Havens, the executive partner of Horne, LLP, an Accountingfly Firm Partner. Is your firm future ready? Let’s define future ready as the capacity to be aware, predictive and adaptive of emerging trends, innovations and changes in business, population and the social environment. It is beyond agile due to […]

accounting-busy-season-cpa-performance-reviews

Is There Anything Worse Than Busy Season? Yes, Performance Reviews

Please enjoy this sponsored content from Beech Valley Solutions. You can read more their partnership with Accountingfly here. Cancer, terrorists, undigested corn – all significantly worse than busy season. But what about within the confines of public accounting? Is there anything worse than busy season? Yes, and it’s formal professional feedback. A late 2015 survey […]

leadership

The Accounting Profession’s Leadership Story Must Change

The following is sponsored content by Joey Havens, the executive partner of Horne, LLP, an Accountingfly Firm Partner. The world needs more leaders and the leadership gap is real. If we continue to believe as we have always believed, then we will continue to have narratives and stories like we always have. And, if we […]

CPA-considering-an-MBA-accounting-careers-med

Considering an MBA? 3 Key Questions to Ask Yourself

Please enjoy this sponsored content from Beech Valley Solutions. I’ve never been water-boarded (I keep begging my wife…), but I’m guessing it’s a lot like busy season. I’d say just about anything to make it stop…like, “maybe I should get my MBA?”. Should you? Maybe (probably not). It truly depends on a series of questions […]

Deepen Your Relationships, Enhance Your Success

This sponsored content is brought to you by The Siegfried Group. You hear it everywhere, all the time: To be successful, you need to have a solid network of connections. You hear it so often and emphasized so frequently, you might find yourself wondering, “Is this just something people say? How can I develop connections […]

Fighting Complacency in Accounting: A Conversation with Joey Havens, Managing Partner of Horne, LLP

The following conversation is sponsored by Horne, an Accountingfly Firm Partner. Last month, Horne Managing Partner Joey Havens wrote a post on how the “trusted advisor” cliche has led to complacency in the public accounting. He joins us again for a conversation to talk more about  complacency in the accounting profession and the future of […]

trusted advisor

Two Words Helping Breed Complacency in Public Accounting: Trusted Advisor

The following is sponsored content by Joey Havens, the executive partner of Horne, LLP, an Accountingfly Firm Partner. The term “trusted advisor” is so overused and embellished in public accounting—to the extent that this term now breeds complacency. In this post, we’ll explore this complacency, what our clients need and what service from a real […]

accounting salaries

How to Make More Money in Accounting

This is sponsored content brought to you by Benedictine University. Almost everyone wants to make more money and why not? A bigger paycheck helps with a lot of things — paying off student loans, saving for a down payment on a major purchase, funding a new venture, travel. If you’re a partner at a firm […]

Sponsored: The Evolving Accounting Education: A Conversation with University of Scranton Professor Doug Boyle

This is sponsored content brought to you by The University of Scranton. Today we welcome Dr. Douglas Boyle, Chairperson and Associate Professor of the University of Scranton Accounting Department. He has over 25 years experience in leadership, finance, operations, corporate governance and business turnarounds while serving in executive positions for a variety of startup, mid-market […]

Sponsored: Why a Bank VP Got Her Master of Accounting Degree (And Why You Should, Too)

Please enjoy this sponsored content from The University of North Carolina's Kenan-Flagler Business School, an Accountingfly University Partner. To move her career to the next level, Bank of North Carolina’s Vice President of Balance Sheet Strategy returned to school, adding new skills and credentials to her resume.  Are you ready for the next big step […]

At Armanino, Pursuing a Niche Results in More Than Just Making Partner

This is sponsored content brought to you by Armanino, an Accountingfly Firm Partner. In January 2016, Jason Gilbert became a partner at California-based Armanino LLP, 10 years after walking in the door as a 24-year-old staff accountant.  His rise took the usual hard work and talent, but he clinched the partnership spot by getting creative―and […]