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...
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…)
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…)
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…)
