March 2017

How an Accounting Firm Can Find New Ways to Build Revenue

Accounting firms has declined according to a report from IBISWorld (a research firm). This comes after half a decade of declining industry activity following the recession and stumbling economic recovery resulting in medium-sized firms shrinking or merging with others and causing several smaller firms to stop operating. (more…)

February 2017

KPIs

5 Reasons Why Retainer Based Services Are Good for Accountants

What are retainers? One of the biggest concerns for any firm is assuring a stable cash flow. One way to get regular assignments and have a predictable flow of income is to set up retainer based services. Flat fees and hourly rates may be the staple of the industry but do retainers really work for accountants? (more…)

The Importance of Accountants Becoming Business Advisors to Business Owners

Competition in the accounting industry is tough. In the last few years, the field of professional accounting has shifted its focus. The demand for traditional, compliance-oriented accounting services such as preparing financial statements, filing of tax returns, and bookkeeping has reduced as more software companies start producing accounting software packages to make it easier for individuals to perform their [...]

5 Reasons to Transform into a Business Advisory Firm

Offering business advisory services doesn’t only add value to your client's business; it increases your business’ revenue and your business’ value significantly. It also prevents you from making one of the biggest mistakes that many accountants make: competing on price alone. (more…)

January 2017

How Business Advisory Services Can Help Your Clients

CPA’s know the language that is being spoken in a company's financial statements and they are capable of assisting clients to facilitate change. Today we look at different ways an accounting firm can use business advisory services to help and improve their client’s bottom line: (more…)

How Cash Flow Forecasts Can Help to Get Your Customers To Pay Faster

First, let’s take a look at your cash flow forecast. Cash flow forecasts are like a calculated guess. It may or may not actualize. However, it’s important that you have a cash flow forecast as it will help you “see” how your business will fare through the next 3 months, 6 months, or the next year. (more…)