The Accounting Profession Seems to be on the Cusp of Big Changes

The cover of the Journal of Accountancy this month is featuring the new AICPA board chairman Richard J. Caturano.

He is embracing change…and get this…he is recommending that firms consider switching to value billing.  This is HUGE!  If you haven’t read the article Embracing Change, I highly recommend it.  Here is a link: http://www.journalofaccountancy.com/Issues/2012/Nov/20125963.htm

This as well as many other things that are happening in the profession, are pointing to big changes ahead.  In our day to day business of brokering accounting practices, we are seeing other evidence that the forces of change that are coming are very powerful…off-shoring and technology are just a couple of examples.

The bottom line…firms need to focus less on routine tasks (compliance work) and more on figuring out powerful ways to add value for their clients.

Successful accountants will be those willing to think a little differently! Things could get quite interesting in the years ahead.

 

About Brannon Poe:  Brannon is the founder of Poe Group Advisors and has been facilitating successful accounting practice transitions throughout the US and Canada since 2003. He is also the creator of Accounting Practice Academy. Brannon is the author of the Accounting Practice Insights Blog and hosts the Accountant’s Flight Plan” podcast with other top thought-leaders in the accounting profession. Brannon is an E&Y alumnus. He has worked with some of the most successful and seasoned CPAs in the industry and has been privy to the behind-the-scenes methods that these clients have used to build highly profitable practices along with capable and independent teams. Brannon has authored multiple books, including Accountant’s Flight Plan – Best Practices for Today’s Firms (published by both the AICPA and CPA Canada) and On Your Own: How to Start Your Own CPA Firm, Second Edition (published by the AICPA). Brannon is passionate about entrepreneurship and is the president-elect of EO Charleston (Entrepreneur’s Organization)