Small Firm Philosophy: Recent Episodes
AICPA
The AICPA's Small Firm Philosophy shares big ideas about small firms. You'll hear from leaders of small accounting firms about their philosophies on running a successful practice in today's rapidly changing environment.
Recorded live at the AICPA's ENGAGE 2026, Erin Hartman, CPA, Senior Manager – Firm Services, sits down with Cheryl Rhode, CPA, Partner at West Rhode & Roberts, where she explains how she is intentionally developing the next generation of firm leaders and why she brings them to ENGAGE to help build their networks and broaden their perspective beyond the walls of the firm.
As Chair of a Private Companies Practice Section (PCPS) Small Firm Networking Group, Cheryl also shares the broader value of learning alongside peers. The conversation covers how her firm adapts to change, develops talent, and stays focused on a shifting profession.
Cheryl also discusses AI's potential to create efficiencies and why accounting remains a dynamic career grounded in continuous learning. Whether you're developing future leaders, strengthening your talent pipeline, or preparing for what's next, this episode offers practical insights for firm leaders of all sizes.
Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at podcast@aicpa-cima.com
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
Continue the conversation beyond this episode in the Engage365 PCPS Community, where members can connect with peers, share ideas, access exclusive resources, and discover what's working across firms like yours.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Many firm leaders are evaluating their ownership and capital models, which includes considering the option of bringing in outside strategic investors. But many firms continue to choose independence as a strategic path.
In this episode, Andrea Wright, CPA, Partner at Johnson Lambert LLP, shares how her firm defines independence through the lens of culture and long-term investment. She explains how that perspective influences decision-making and why the firm reevaluates its direction each year.
The conversation also explores how Johnson Lambert thinks about niche service offerings, talent development, succession planning, transparency, and technology investment.
We take a thoughtful look at what it takes to sustain this model and consider these fundamental questions: What are you willing to invest, and why does it matter now?
Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at podcast@aicpa-cima.com
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
Continue the conversation beyond this episode in the Engage365 PCPS Community, where members can connect with peers, share ideas, access exclusive resources, and discover what's working across firms like yours.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
In this episode, Laura Crowley, Partner at Citrin Cooperman and member of the AICPA's Women's Initiatives Executive Committee, and Mandy Gallagher, Lead Manager of Women's Initiatives at the AICPA, discuss what it really takes to build a firm where women advance and why every firm that does comes out stronger.
Laura and Mandy share practical strategies on sponsorship, leadership development, and retention, drawing on real-world examples from across the accounting and finance profession.
Walk away with concrete steps to build a more inclusive and competitive firm.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
Explore the Sponsorship Success Toolkit, which includes guidance on building an effective sponsorship program.
Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at podcast@aicpa-cima.com
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
What does successful growth really look like for today's firms? In this episode, Sarah Krom, CPA, MST, Managing Partner of SKC & Co. CPAs, LLC, explores how firm leaders can scale intentionally without sacrificing culture, people, or purpose.
Sarah shares how SKC approaches growth by focusing on other factors beyond revenue and headcount. From launching new service lines to navigating change through overcommunication, this conversation offers practical insight for any firm or organization looking to grow while protecting what makes their firms thrive.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at podcast@aicpa-cima.com
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Lauren Baptiste, founder of Acheloa Wellness, explores how burnout is more than just exhaustion; it's a systemic challenge affecting professionals at every level.
Lauren highlights the new PCPS Burnout Prevention Toolkit, a practical resource designed to help individuals, firms, organizations, and the profession combat burnout before it starts. Lauren shares her personal journey, actionable strategies for creating healthier work cultures, and quick wins you can implement today.
Whether you're a leader looking to support your team or a professional seeking balance, this conversation offers tools to thrive, not just survive.
We're back with another special compilation of conversations offering insights relevant for preparing for busy season. Jaimie Boyd from the AICPA® Firm Services team shares highlights from conversations we've had over the past year with practitioners who are applying the fundamental concepts of the Transforming Your Business Model initiative to their day-to-day operations.
From scheduling systems that help tame tax season to the power of virtual teams and intentional client selection, these stories offer practical insights and motivation for firms preparing for busy season and anyone seeking to modernize their practice without sacrificing well-being. You don't want to miss this episode as you prepare for busy season.
For the full episodes and resources, check out the following:
- TfP 012. Creating Balance Without Losing Business
- TfP 014. Building Balance in a Virtual Firm
- TfP 010. Leading with Authenticity and Vulnerability
- TfP 006. Starting your own firm and growing the right client base
- TfP 013. When Purpose Meets Innovation
- TfP 011. The Influence of Coaching on Firm Growth
- AICPA Town Hall: DC updates, hiring insights and better tax season planning
- PCPS Right-Sizing Your Client Base Toolkit
- PCPS Outsourcing for CPA Firms Toolkit
- PCPS Future Talent Trend Toolkit
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at podcast@aicpa-cima.com
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Ready to turn data into your firm's competitive edge? This episode reveals how firm leaders are leveraging the National Management of an Accounting Practice (MAP) Survey, from the AICPA Private Companies Practice Section (PCPS) and CPA.com, to drive smarter decision-making and stay ahead in a rapidly evolving profession.
Shayna Chapman, CPA.CITP, CGMA, CEO, Founder of Shaynaco LLC, and Brent Forbush, Managing Partner of Forbush & Associates, share practical insights on how to best use benchmarking data from the MAP Survey. The conversation highlights the importance of technology investment, especially AI, and the value of segmenting survey data for actionable comparisons.
They share the key metrics that have helped their firms, encouraging others not to be overwhelmed by the breadth of available data. Lastly, the episode offers a forward-looking discussion on trends shaping the profession and insight into how participation in the MAP Survey can be a catalyst for transformation.
The 2025 MAP Survey results and executive summary are now available, offering actionable data and practical takeaways for firms of all sizes. Download today!
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
In this episode of Transforming: Tales of Business Model Evolution, Suzanne Forbes, CPA, Managing Partner of James Moore, explores why governance must evolve as your firm grows, why it’s essential to revisit partner compensation, and how to guide your team through transitions.
Suzanne also highlights ways to build a strong, connected culture for remote employees. Looking ahead, she expresses excitement about the future of the profession, highlighting the potential for meaningful impact in having an increased advisory role. Tune in, subscribe, and visit our podcast home page for more episodes.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Kelly Rohrs, CPA, Founder of K. Rohrs, CPA, P.C., shares the journey of launching her firm from concept to reality. Listeners will gain insight into how she structures client relationships, manages expectations during high volume periods, and fosters talent retention through flexibility and trust.
Kelly offers practical advice for firm owners looking to break away from traditional models, emphasizing the power of small, intentional changes. Tune in to hear how she’s redefining what it means to operate a modern CPA firm.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Live from ENGAGE 2025, Erin Hartman, CPA, Senior Manager – Firm Services, sits down with Argel Sabillo, CPA, Cofounder and Chief Executive Officer of HeyApril Inc, to discuss the ways he is reshaping the profession and leaving tradition behind. With a client base rooted in internet-based startups and small businesses, HeyApril offers full-scale, end-to-end accounting services. Argel shares how his journey has been defined by bold leaps of faith, innovation, and community impact.
Argel offers practical insights on value-based pricing, subscription models, and tech stack optimization, while passionately advocating for firms to niche down and align their business models with mission and outcome, not just services. He also previews HeyApril’s next frontier: using Large Language Models (LLMs) to turn client data into real-time, actionable insights. This is an episode packed with inspiration, strategic guidance, and a glimpse into the accounting firm of the future.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Brenda Cannon, Partner at Cannon & Associates, CPAs, shares how her firm rethought busy season by scheduling every tax return to prepare and control the workflow.
From setting clear boundaries and prioritizing ideal relationships, to encouraging clients to file extensions, Brenda breaks down how intentional change can create a healthier, more sustainable work environment. Tune in to learn how to normalize a better busy season.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Rebecca Driscoll, CPA, Co-founder of The Collaboration Room, walks through her unconventional journey into public accounting, highlighting her transition from working at a large firm to establishing her own CAS and Tax practice. Rebecca elaborates on the significant life changes that motivated her to pursue a different career trajectory.
Emphasized in this episode is the significance of internal CAS practices and the key role coaching plays in assisting firm owners to develop sustainable firms. Rebecca also encourages listeners to think about their goals and desired lifestyle, and how that can be aligned with their career paths.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
In the final episode of the four-part governance podcast series, Erin Hartman, CPA, Senior Manager – Firm Services of the AICPA & CIMA joins Sarah Dobek, Founder and President of Inovautus Consulting, and Gary Thomson, CPA, Founder and Principal of Thomson Consulting, to wrap up and share insights and lessons learned from the series. They reflect on the evolving mindset around governance and how it is relevant to firms of all sizes – not just large firms.
The discussion also focuses on the key success factors of effective governance improvements and how to embark on making governance changes, even if the process hasn’t been perfected. Be sure to check out the PCPS Governance Toolkit – developed through collaboration by the AICPA & CIMA PCPS team, Inovautus Consulting, and Thomson Consulting – which is designed to help firms of all sizes transform their governance strategies.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
In this episode, hosts Sarah Dobek Sarah Dobek, Founder and President of Inovautus Consulting, and Gary Thomson, CPA, Founder and Principal of Thomson Consulting, are joined by Chip Chaon, CEO and Managing Principal of LattaHarris, LLP, and Mark Kovaleski, Managing Partner of MMB+CO, where they explore how evolving governance structures are reshaping partnership agreements within firms.
The conversation also provides insights into the challenges of implementing changes to partnership agreements and how to navigate the transformation. As part of a unique four-part series on governance, this informative discussion aims to offer guidance for those journeying down the path of transforming their partnership agreements. Be sure to check out the PCPS Governance Toolkit – developed through collaboration by the AICPA & CIMA PCPS team, Inovautus Consulting, and Thomson Consulting – which is designed to help firms of all sizes transform their governance strategies.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
In this episode, hosts Sarah Dobek Sarah Dobek, Founder and President of Inovautus Consulting, and Gary Thomson, CPA, Founder and Principal of Thomson Consulting, are joined by Eric Majchrzak, CEO/Principal for BeachFleischman, to dive into a pivotal shift in the accounting profession—the rise of non-CPA professionals stepping into leadership roles in public accounting firms.
Learn more about how firms are embracing non-CPA leadership to drive transformation as they strive for growth and innovation. Part of a special four-part series highlighting governance, this engaging discussion offers insights into the future of accounting leadership. Be sure to check out the PCPS Governance Toolkit – developed through collaboration by the AICPA & CIMA PCPS team, Inovautus Consulting, and Thomson Consulting – which is designed to help firms of all sizes transform their governance strategies.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
In this episode, hosts Sarah Dobek Sarah Dobek, Founder and President of Inovautus Consulting, and Gary Thomson, CPA, Founder and Principal of Thomson Consulting, are joined by Chris Sullivan, CPA, Managing Partner of VSH CPAs, and Amber Goering, CPA, Owner of Goering & Granatino (GG Advisors) to discuss the implementation of the Entrepreneurial Operating System (EOS) in their respective firms. Chris and Amber share their experiences and challenges faced during the implementation, such as the need for a strategic plan and the necessary time commitment.
Chris and Amber also share insights on the benefits of EOS, including how firms can use it for quick decision-making and creating a culture of accountability. Part of a special four-part series highlighting governance, this episode provides the roadmap for a journey of growth and improvement. Be sure to check out the PCPS Governance Toolkit – developed through collaboration by the AICPA & CIMA PCPS team, Inovautus Consulting, and Thomson Consulting – which is designed to help firms of all sizes transform their governance strategies.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Content Note: This episode includes discussions about mental health, including depression, anxiety, and suicide. Please take care while listening.
In this powerful episode, Randy Crabtree, Co-Founder and Partner at Tri-Merit, shares his personal story of navigating mental health challenges and how that experience shaped his leadership approach and advocacy within the profession.
Randy shares what it means to lead with vulnerability and foster a people-first culture. He offers heartfelt advice, simple tips to manage burnout, and encouragement to those quietly facing their own struggles.
Tune in for an honest, inspiring conversation on vulnerability, resilience, leadership, and transforming workplace culture.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
What defines a thriving business development culture in public accounting? Josh Axelrod, Chief Operating Officer of Aldrich CPAs + Advisors, shares the elements of a successful business development environment.
Learn how intentional efforts pave the way for strategic action and how to overcome challenges you may face. Packed with actionable insights and real-world advice, you’ll obtain strategies on how to ensure your firm not only grows but thrives in a rapidly changing profession.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Gary Thomson, CPA, Founder and Principal of Thomson Consulting, and Sarah Johnson Dobek, Founder and President of Inovautus Consulting, explore how strong governance can drive successful business model transformation.
They share practical insights on how firms can adopt effective governance frameworks to guide their transformation strategies, ensuring sustainable growth and adaptability. You’ll learn key approaches to structuring governance that can help your firm navigate change for new opportunities.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Private equity-backed firms are reshaping the professional services landscape. In this episode, Tim Brackney, CEO of Springline Advisory, and Josh Beck, Managing Partner at MarksNelson Advisory LLC, share insights into their collaboration and strategic approaches to firm growth and transformation.
Discover how Springline’s model helps firms unlock value, enhance operations and scale successfully. From leadership alignment to strengthening people-first cultures, this conversation reveals how firms can leverage private equity to evolve their business model while staying true to their core values.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Starting your own firm can be tough, but finding the right clients makes all the difference. In this episode, Yuri Kapilovich, CPA, a managing partner of Kapilovich & Associates shares his ideas about the importance of choosing quality clients and building strong relationships, rather than just focusing on quantity,
He also discusses how to balance work, family and personal goals. If you’re thinking about starting your own firm, this episode has helpful tips to guide you.
For more information on starting your own firm, explore the Starting Your CPA Practice - Planning Checklist.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
In this episode with Dan O’Hare, CPA, CGMA, Principal at Glenn Burdette, we explore why CPA firms might choose to implement an Employee Stock Ownership Plan (ESOP).
With Dan's insights and expertise, we explore how ESOPs can facilitate smooth succession planning, boost employee retention and engagement and offer significant tax benefits. Additionally, we discuss how this alternative practice structure can improve performance and make the firm more attractive to potential hires. This conversation will help you understand the potential power of ESOPs in reshaping your firm’s future.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Are you curious about how to empower your employees and fuel your firm’s growth? Listen as we explore employee stock ownership plans (ESOPs) with Mike Bannon, vice president at CSG Partners. You’ll discover how this powerful tool can help your firm achieve its long-term goals and implementation plans, from planning and financing to valuation and ownership transition.
This episode offers insights into the benefits of leveraged ESOPs, which include not only tax advantages but also the ability to boost employee engagement and create lasting value for accounting firms. Discover why more firms are turning to this innovative ownership model and how it can shape the future of your business. Tune in and unlock the potential of shared ownership.
To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
Erin Hartman from the AICPA & CIMA PCPS section introduces a special compilation of conversations on the evolution of accounting firms and the modernization of accounting practices through the "Transforming Your Business Model" initiative. It contains valuable insights and motivation for accounting professionals looking to innovate and create sustainable business models while maintaining a healthy work-life balance. In these condensed exerpts from previous podcasts, the conversation features insights from Chet Buchman, managing partner of Swindell, Jansen Hawk and Loyd, and Sandy Johns, a small firm owner based in Atlanta. Chet shares his firm's journey towards reducing work hours to 45 hours per week, highlighting the challenges and successes along the way. He emphasizes the importance of maintaining a balance between reducing hours, increasing profitability, and having more fun at work. Sandy discusses her firm's transition to a fully remote team and their focus on subscription-based client accounting services, sharing her experience of eliminating one-off tax returns to reduce stress and improve work-life balance.
Both practitioners highlight the importance of understanding what you want for yourself and your firm, committing to a common vision, and being willing to make changes and learn from mistakes. They also stress the value of networking and seeking support from peers and professional groups.
For the full episodes from both Chet Buchman and Sandy Johns and other articles and resources regarding right-sizing and hours reduction, check out the following resources:
- PCPS Right-Sizing Your Client Base Toolkit,
- A Revolution in ‘right-sizing’ a client base,
- Why and how: right-sizing client base and revenue modeling,
- Business model transformation - advisory and hours,
- Is right-sizing the right move for your firm?, and
- Right-sizing your firm: A commitment to clients and staff.
Visit these and other resources at www.aicpa-cima.com/TYBM.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
How are forward-thinking firms adapting to the profession’s changing landscape? We're joined by Abbey Bemis and Mike Miller from Payne Nickles & Company to hear their transformative insights.
They investigate how firms adapt to shifts in tax seasons and the broader profession because of new technology and AI. Abbey and Mike also tackle the talent shortage challenge, sharing strategies for attracting top talent and positioning their firm as a desirable workplace.
From discussions on the evolving role of the COO and the importance of effectively communicating value to clients, tune in for a fresh take on how to navigate changes in the profession and leverage innovation for firm growth.
Check out our business model transformation resources for more guidance on aligning your client base with your firm’s goals.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcome via email to podcast@aicpa-cima.com
Jeff Wald, CEO of Pinion, shares his insights and expertise on the importance of corporate governance. He uncovers strategies for managing major firm transformations, securing stakeholder buy-in and crafting transparent strategic plans.
Jeff also highlights the importance of building strong relationships at the board level, humanizing business disagreements and empowering your firm to make effective business decisions. Tune in to learn how to enhance your firm’s governance practices and drive impactful business model transformations.
Check out business model transformation resources for more guidance on aligning your client base with your firm’s goals. https://www.aicpa-cima.com/resources/landing/transform-your-business-model
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
The look and feel of your podcast is about to evolve. We’re excited to share that the Small Firms Philosophy podcast is becoming "Transforming, tales of Business Evolution". New episodes start later in November 2024.
In this podcast episode, we explore with Jonyce Bullock, CEO of Squire, how evolving governance structures can revolutionize your business model. Jonyce shares her journey through governance challenges, emphasizing the value of external support and diverse perspectives in navigating complex decisions.
You’ll discover strategies for enhancing decision-making, implementing changes effectively and creating alignment within your firm. If you want to address your firm’s unique needs, this can’t-miss episode will show you how to articulate the “why” behind governance changes and choose the right model to foster agility.
For more guidance on aligning your client base with your firm’s goals, check out the "PCPS Right-Sizing Your Client Base Toolkit" and other business model transformation resources.
Are you facing a talent shortage? Offshoring may be the answer. Our guest Laurence Whittam of Impact Global Solutions discusses tapping into global talent pools to boost your firm’s capabilities.
From selecting the right offshoring model to building successful remote teams, Laurence shares practical advice for small firms. Discover various offshoring models, practical implementation steps, process efficiencies, strategies for driving client growth and more.
Discover how to transform your business with the PCPS Outsourcing Toolkit for CPA Firms.
Connect with our guest Laurence Whittam via LinkedIn.
This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com
In this episode of the Small Firm Philosophy podcast, Ingrid Goldbloom-Bloch, Director of Career Development and Engagement at AAFCPAs, talks with PCPS manager Erin Hartman to share how her firm is making waves and doing things differently in the profession. When Ingrid joined AAFCPA, she was tasked with elevating the people and culture pillars of the firms strategic plan. Ingrid’s day to day focus is to uncover challenges that get in the way of teams feeling happy, engaged, and productive at work. It is this work, and how it transformed AAFCPAs business model, that Ingrid and Erin discuss in detail.
SFP is produced by AICPA & CIMA’s firm services team, aka the Private Companies Practice Section (PCPS). This episode is part of an ongoing series on accounting firm business model transformation that PCPS is leading for AICPA & CIMA.
For more on the series, check out the Transforming Your Business Model landing page.
Accounting firms planning for future success may want to rethink their approach to new opportunities. In this episode of the Small Firm Philosophy podcast, Elizabeth Hale, founder and CEO of eeCPA, shares with PCPS manager Erin Hartman how her firm is revolutionizing the traditional CPA model by putting people first and driving client success.
SFP is produced by AICPA & CIMA’s firm services team, aka the Private Companies Practice Section (PCPS). This episode is part of an ongoing series on accounting firm business model transformation that PCPS is leading for AICPA & CIMA.
For more on the series, check out the Transforming Your Business Model landing page.
This episode of the Small Firm Philosophy podcast features Steve McDonald, CPA, managing partner at Abdo, sharing tips about how he integrated cutting edge data and government consulting services with new technologies to revolutionize his firm's client services.
SFP is produced by AICPA & CIMA’s firm services team, aka the Private Companies Practice Section (PCPS). Lisa Simpson, CPA, CGMA, vice president of Firm Services for AICPA & CIMA, conducted the interview, which is part of an ongoing series on accounting firm business model transformation that PCPS is leading for AICPA & CIMA.
For more on the series, check out the Transforming Your Business Model landing page.
This episode of the Small Firm Philosophy podcast unveils a pair of powerful toolkits designed to help accounting firms reshape and optimize their business. PCPS manager Erin Hartman, CPA, and Carrie Steffen, the president of growth consulting firm The Whetstone Group, introduce the Revenue Modeling and the Right Sizing Your Client Base toolkits, which are exclusive to PCPS members:
SFP is produced by AICPA & CIMA’s firm services team, aka the Private Companies Practice Section (PCPS). This episode is part of an ongoing series on accounting firm business model transformation that PCPS is leading for AICPA & CIMA.
For more on the series, check out the Transforming Your Business Model landing page.
From engaging high schoolers to partnering with community influencers, discover how Grossman Yanak & Ford cultivates future accountants. This episode of the Small Firm Philosophy podcast features a discussion with GYF's Colleen Febbraro about the firm's freshman forum program, the importance of promoting the accounting profession, changing stereotypes, and more.
SFP is produced by AICPA & CIMA’s firm services team, aka the Private Companies Practice Section (PCPS). PCPS manager Erin Hartman, CPA, conducted the interview, which is part of an ongoing series on accounting firm business model transformation that PCPS is leading for AICPA & CIMA.
For more on the series, check out the Transforming Your Business Model landing page.
This episode of the Small Firm Philosophy podcast features an interview with David Wurtzbacher and Erin Stahmer of Ascend, a platform firm that is employing unique strategies in its business model. Join us to discuss people strategy, offshoring tips, and how to own the value of firm services.
SFP is produced by AICPA & CIMA’s firm services team, aka the Private Companies Practice Section (PCPS). PCPS manager Erin Hartman, CPA, conducted the interview, which is part of an ongoing series on accounting firm business model transformation that PCPS is leading for AICPA & CIMA.
For more on the series, check out the Transforming Your Business Model landing page.
This episode of the Small Firm Philosophy podcast features an interview with Dennis Sherrin, CPA, CGMA, chief value officer and strategic consultant at Avizo Group, Inc., an Alabama-based CPA firm with 35 team members in the United States and India.
Sherrin discusses how Avizo implemented Lean Six Sigma (LSS) to streamline the firm’s tax practice and slash overtime hours, even during tax season.
“Have we eliminated overtime hours? Absolutely not,” said Sherrin. “But have we drastically reduced overtime during our busiest seasons and eliminated it outside of those seasons? We absolutely have.”
SFP is produced by AICPA & CIMA’s firm services team, aka the Private Companies Practice Section (PCPS). PCPS manager Erin Hartman, CPA, conducted the interview, which is part of an ongoing series on accounting firm business model transformation that PCPS is leading for AICPA & CIMA.
For more on the series, check out the Transforming Your Business Model landing page. To learn more about Sherrin and his firm, go to the Avizo Group website. For more on Avizo’s Project 40 initiative to reduce overtime, read the AICPA & CIMA Insights article “How this firm made 40 the new standard for the 70+ hour week."
This episode of the Small Firm Philosophy podcast features an interview with Chet Buchman, CPA, CGMA, managing partner of Kansas-based accounting firm Swindoll, Janzen, Hawk and Loyd, LLC (SJHL). In this discussion, Buchman describes his firm’s multi-year journey to offering more advisory services, including the big mistake they made at the beginning and what they learned from it. He also explains SJHL’s strategy for reducing busy season hours for staff and partners.
SFP is produced by AICPA & CIMA’s firm services team, aka the Private Companies Practice Section (PCPS). PCPS manager Erin Hartman, CPA, conducted the interview. This episode is part of an ongoing content series on accounting firm business model transformation that PCPS is leading for AICPA & CIMA.
For more on the series, check out the Transforming Your Business Model landing page. To learn more about Chet Buchman and his firm, go to the SJHL website.
This episode of the Small Firm Philosophy podcast features an interview with Carl Peterson, CPA, AICPA & CIMA’s vice president of small firm interests. Peterson addresses the new beneficial ownership information (BOI) reporting requirements and also shares his biggest takeaways from the 2023 AICPA & CIMA National Management of an Accounting Practice (MAP) Survey.
The MAP Survey, like this podcast, is produced by AICPA & CIMA's firm practice management section, better known as the Private Companies Practice Section (PCPS). Jeff Drew, editor-in-chief of the Journal of Accountancy and lead author of the MAP Survey Executive Summary, is the host of SFP.
Also see:
· BOI Client Letter
· MAP survey resources
Small Firm Philsophy is published the fourth Wednesday of each month.
This episode of the Small Firm Philosophy podcast features an interview with Sandy Johns, owner of Revolution Financial, a small accounting firm based in the Atlanta area. Johns discusses how she culled her firm's client roster to a manageable size and how doing so affected her well-being professionally and personally.
SFP is produced by the AICPA & CIMA's firm practice management section, better known as the Private Companies Practice Section (PCPS). Erin Hartman, a manager with PCPS, conducted the interview. This episode is part of a ongoing content series on accounting firm business model transformation that PCPS is spearheading for the AICPA & CIMA.
For more on the series, go to the Transforming Your Business Model landing page. For more on Sandy Johns and her firm, check out the Revolution Financial website.
Nicole Davis isn't your typical CPA firm owner. She has five children, owns three businesses and has crafted a presence on social media including an account with more than 12,000 followers on X, formerly known as Twitter. She also never worked in public accounting before launching her firm, Butler Davis Tax & Accounting.
How has Davis done all of this and what has she learned along the way? She shares her story in this episode of the Small Firm Philosophy podcast, produced by the AICPA's Private Companies Practice Section in partnership with the Journal of Accountancy podcast.
Topics covered in this episode:
- Why Davis changed her firm's business model after the first year
- How she uses video to communicate with clients and staff
- How she shifted her firm away from taxes to accounting bookkeeping and advisory services
- How price increases helped her firm right-size its client base
- How she uses social media to connect with her peers and also land clients
There’s been a buzz around artificial intelligence for years, but nothing like the swarm of interest generated by ChatGPT.
Microsoft-backed research laboratory OpenAI launched ChatGPT in November 2022. By January, the large language generative AI chatbot had attracted more than 100 million users, making it the fastest-growing customer software application ever – but far from the only one.
What makes ChatGPT so compelling and how does it compare to other generative AI chatbots like Google’s Bard? What tasks can generative AI handle for accounting firms and what precautions should CPAs take when using this technology? Hear the answers to those questions and much more from accounting technology expert Roman H. Kepczyk CPA.CITP, CGMA, in this episode of the Small Firm Philosophy podcast, produced by AICPA & CIMA’s Private Companies Practice Section (PCPS) in partnership with the Journal of Accountancy.
Things you’ll learn in this podcast:
· How generative AI is different from personal assistants like Siri or Alexa.
· How a lawyer got himself in hot water after using ChatGPT-4
· Where accountants can expect to see AI tools tailored for them
· What Google’s Bard does better than ChatGPT
· What accountants should never do with generative AI
Also see:
· Getting onboard with ChatGPT safely (for PCPS members)
· Writing advanced Excel macros with ChatGPT-4 (JofA)
· Can ChatGPT answer your clients’ questions? (JofA)
Johanna Sweaney Salt, CPA, CGMA, used to work 100 hours a week during busy season. As the founder and managing partner of Gray, Salt & Associates, LLP, she believed it was her responsibility to put in the time needed to make her small firm a success.
Today, Joanna remains a full-time partner at the firm, but her son, Dalton Sweaney, CPA, is now the managing partner. His desire a few years ago to spend more time with his young children prompted him to ask his mother if they could make some changes to make busy season less crazy.
She said yes, starting a multiyear journey that has freed Dalton up for more dinners with his family and has cut her busy season hours almost in half. What changes did they make and how have they kept the firm running profitably? Find out from both Johanna and Dalton in this episode of the Small Firm Philosophy podcast, produced by the AICPA’s Private Companies Practice Section (PCPS) in partnership with the Journal of Accountancy podcast.
Things you will learn in this podcast:
· How a new software application increased capacity by reducing time spent in meetings
· How another new application made the engagement process pay off instantly
· How a hard minimum helped to maximize profits
· When, how and why the firm fires clients.
A firm in a box.
A franchise on steroids.
The Uber (or Lyft) of CPA firms.
To say that the business model of Dark Horse CPAs is difficult to describe is an understatement of the highest order.
So exactly does Dark Horse do? What makes it unique? And what prompted CEO and co-founder Chase Birky to try a radically different business model? Find out as Lisa Simpson, the AICPA’s vice president of Firm Services, interviews Birky in a special edition of the Small Firm Philosophy podcast, produced in partnership with the Journal of Accountancy podcast.
Things you'll learn in this episode
- What a platform CPA firm is
- How Dark Horse's business structure differs from a traditional firm's
- How setting client expectations can help ease compression
The Small Firm Philosophy podcast is produced by the AICPA's Private Companies Practice Section (PCPS). It is published monthly on the third Wednesday.
Related PCPS resource
- Transforming Your Business Model
Roman Kepczyk, CPA.CITP, CGMA, director of firm technology strategy for Right Networks and author of the AICPA & CIMA’s CPA cybersecurity checklist, joins the Small Firm Philosophy podcast to discuss current cyberthreats and what CPA firms should be doing to protect their data and networks. Host Jeff Drew also asks Roman a fun question about that technology he is most excited about, and Roman respond with an intelligence answer.
In this podcast you will learn:
- The biggest new cyberthreat for firms of all sizes
- What a zero-day vulnerability is and why patches are important
- A three-pronged approach to smart security management
- Best security practices for remote workers
- How one data breach fine reached over $900,000
- Why ChatGPT and A.I. are so exciting for CPAs
Data breach websites mentioned: itgovernance.com, idtheftcenter.org
The Small Firm Philosophy podcast is published monthy on the third Wednesday of each month by the AICPA & CIMA's Private Companies Practice Section (PCPS).
Incentivize the behaviors you want. That was the theory behind GRF CPAs & Advisors’ decision to change its partner compensation model several years ago. Firm leaders knew that if they wanted their partners to operate as a cohesive team, they needed to stop paying partners in ways that drove individualistic behaviors.
More than five years later, GRF President and Managing Partner Jackie Cardello, CPA says that while the process was a lot of work, the results “absolutely” have been well worth it.
What did GRF change and how have the firm’s fortunes improved? Find out from Cardello and GFR partner Elinor Litwack, CPA, in this episode of the Small Firm Philosophy podcast, produced in partnership with the Journal of Accountancy podcast.
Things you will learn in this podcast
- The limitations of formulaic, eat-what-you-kill compensation models.
- Other goals that can be added to the model other than financial metrics
- The advantages to bringing in a third party to help with the process
- What behaviors the new compensation model incentivized
- How a compensation committee works
- What firms should know before they start on this path
Chat bots that can write Excel macros. The internet’s first evolutionary leap since the 1990’s. And whatever happened to blockchain?
Those are just a few of the topics covered by three top accounting technology experts during a special edition of the Small Firm Philosophy podcast, produced in partnership with the Journal of Accountancy podcast. This double-length episode features the first gathering of the JofA accounting technology roundtable since the early days of the pandemic. Participants Donny Shimamoto, Amanda Wilkie and Wesley Hartman share their expertise on topics ranging from automation and digital assets to cybersecurity and Web 3.0.
Things you will learn in this podcast
- What ChatGPT is and whether it is ready for business use.
- Specific uses and tools for robotic process automation (RPA).
- Why tax preparers without a written information security plan could soon be in trouble
- What the FTX implosion really means for digital assets and blockchain.
- What Web 3.0 is and why it’s going to be such a big deal.
- The importance of applying certain information security frameworks.
- And a whole lot more!
Related resources
- “Using ChatGPT with Excel,” JofA article with video walkthrough
- SFP #71: How RPA paid off for this accounting firm
- PCPS Cybersecurity Checklist
- AICPA’s Auditing Blockchain & Digital Assets webpage
Many small accounting firms may not have heard much about digital assets beyond bitcoin and the FTX bankruptcy, but accountants have two big reasons to learn more about the topic.
First, the acceptance of digital assets as payment has steadily grown among accounting firms and especially their clients. Second, cyberattacks are increasingly targeting digital assets. The combination of these trends means that even small firms should learn about digital assets, gain an understanding of the cybersecurity threats, and be prepared to discuss safeguards with clients.
In this episode of the Small Firm Philosophy podcast, produced by the AICPA’s Private Companies Practice Section (PCPS) in partnership with the Journal of Accountancy podcast, JofA host Neil Amato discusses digital assets and cybersecurity with Steve Ursillo, CPA/CITP, CGMA, a partner in the Risk & Accounting Advisory Group at Cherry Bekaert and the firm's national leader of information assurance and cybersecurity. Ursillo explains the threat landscape and offers advice on the safeguards that organizations should have in place.
Things you will learn in this podcast
- Why digital assets are enticing to hackers.
- The reputational effect of suffering a cyberattack.
- Common attack vectors related to digital assets.
- Ursillo's specific advice on the importance of protecting mobile phones.
- An explanation of cold and hot wallets.
- The importance of applying certain information security frameworks.
A transcript of the conversation is available on journalofaccountancy.com.
Related resources
- PCPS Cybersecurity Checklist
- Q&A: Two cyberattacks CPA firms should fear
- AICPA’s Auditing Blockchain & Digital Assets webpage
Orumé Hays didn’t exactly follow a traditional path to owning an accounting practice. From Africa to the Big Apple, she blazed a trail all her own.
Raised in Nigeria, Hays moved to Miami with a college degree in sociology and anthropology and a budding career in modeling and acting. Her pursuit of Hollywood stardom peaked with a couple of appearances in the 1996 movie “The Birdcage”. She then discovered a new passion.
Trading in the silver screen for spreadsheets, Hays embarked on a new journey as an accountant. Pursuing education and experience, she built her accounting career and then launched her own firm in New York City. Today, Hays CPA provides tax and client advisory services (CAS) to small businesses, startups and entrepreneurs. And Hays has emerged as a star in her chosen profession.
So how does someone go from modeling and acting to being named among the 25 most powerful women in accounting? What lessons has Hays learned owning an accounting firm as an immigrant, black woman in the United States?
Hays answers those questions in the latest installment of the Small Firm Philosophy podcast, produced by the AICPA’s Private Companies Practice Section in partnership with the Journal of Accountancy podcast. The chair of the PCPS Executive Committee and also an adjunct college professor, Hays also offers insights into the pipeline and other challenges confronting small firms.
Resources mentioned
- 2023 PCPS Busy Season Fun Calendar
- 2022 PCPS CPA Firm Top Issues Survey
Things you will learn in this podcast
- How and why Hays transitioned from modeling and acting to accounting
- The key and ongoing role of education in Hays’ life and career
- What Hays sees as the top issues facing small accounting firms.
- What she has learned about college students during her years as an adjunct accounting professor
- What CPAs can do to help bolster the recruitment of students into accounting careers
The CPA’s guide to technology (and tech gifts)
There are few, if any, people in the accounting space who know more about technology than Inspector Gadget.
No, not the cartoon character with the go-go arms from the 1980s. The man wearing the trench coat in this case is David Cieslak, CPA.CITP, CGMA, executive vice president and chief cloud officer for RKL eSolutions and a popular speaker whose Inspector Gadget keynote session has been a highlight of accounting conferences for many years.
If you want to be clued in to what’s going on with technology, both in accounting and with consumer products, Cieslak is the man to talk to. So that’s what we do in the latest episode of the Small Firm Philosophy podcast, produced in partnership with the Journal of Accountancy podcast
Topics covered in the conversation include:
- The three steps accounting firms can take to make the most of their technology spending.
- Why CPAs should not wait too long to update their laptops and desktops
- What true cloud is and what to look for in cloud-based applications
- What tech products could be great holiday gifts for CPAs to give or receive.
SFP episode referenced
- “The payoffs of RPA for one accounting firm”
Products mentioned
- CPE through podcasts: Earmark, lumiQ
- Apple IPad Pro
- Apple Watch, Apple Watch Ultra,
- Samsung Galaxy Watch5
- Google Pixel Watch
- Amazon Echo
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
It's the holidays, that special time of the year when children wish for their dream gift and CPAs pray that the looming busy season won't be another nightmare.
Rabecca Eunis, CPA, knows the feeling. As a new accountant working for her father’s firm, Eunis learned to dread and despise tax season. The mad, miserable dash to Tax Day was so stressful that Eunis launched her own practice vowing that her team wouldn’t suffer the way she did. Fun, she believed, should be a key part of busy season.
Eunis put her new approach into practice, and it paid off for both her and, eventually, her father. How did she make busy season less stressful and more fun? And how did that benefit her father as well as her firm? Eunis explains all in this episode of the Small Firm Philosophy podcast, produced by the AICPA’s Private Companies Practice Section in partnership with the Journal of Accountancy podcast.
Things you will learn in this podcast
- Avoidable practices that make busy season harder than it needs to be
- Ways to preserve as much family and free time as possible for team members
- Tips for injecting fun into the most taxing time of the year
- What bowling in the dark is and how it applied to busy season
- The impacts of these policies on staff productivity and firm growth.
Reference mentioned
- PCPS busy season fun calendar
Ghosts, goblins and ghouls aren't the only scary things to watch out for this Halloween season. Hackers and criminal organizations are up to their old tricks -- and some new ones -- in their tireless efforts to breach your cyberdefenses and treat themselves to your computer networks and data.
So what kinds of spooky schemes are haunting CPA firms? And what can practitioners do to protect themselves and their clients? The Small Firm Philosophy podcast addressed those questions with Sarah Ference, CPA, a risk control director at CNA, the underwriter of the AICPA's professional liability insurance program.
Ference advises firms of all sizes on how they can manage their professional liability risk. In this episode, she identifies two cyberthreats being seen more often in accounting firm cyber-insurance claims and discusses ways firms can lower their risk of being victimized.
The Small Firm Philosophy podcast is produced by the AICPA's Private Companies Practice Section (PCPS). PCPS members can see an edited transript at https://www.aicpa.org/news/article/q-and-a-2-cyberattacks-cpa-firms-should-fear.
This episode of SFP provides information, rather than advice or opinion. It is accurate to the best of the author’s knowledge as of the publish date. This article should not be viewed as a substitute for recommendations of a retained professional. Such consultation is recommended in applying this material in any particular factual situations. Examples are for illustrative purposes only and not intended to establish any standards of care, serve as legal advice, intended to constitute a contract, or acknowledge any given factual situation is covered under any CNA insurance policy. The relevant insurance policy provides actual terms, coverages, amounts, conditions, and exclusions for an insured.
Launching an advisory firm after 20 years in public accounting requires courage, confidence and commitment. It also helps to get some business coaching and to focus on changing customer needs.
Those are some of the lessons Zack Ryan, CPA, shares in this episode of the Small Firm Philosophy podcast. The founder of Value Forward Advisory explains how meeting regularly with business owners on a fixed-fee basis has relieved workload congestion and produced much improved revenue and profit per client.
Resources from this episode
- Starting Your CPA Practice – Planning Checklist
- “On Your Own! How to Start Your Own CPA Firm (note: links to Amazon.com)
- Client acceptance evaluation tool
To learn more about Ryan, connect with him on LinkedIn.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Terrence Putney, CPA, managing director with Whitman Transition Advisors, is among the top advisers on accounting firm mergers nationwide. Over his 44-year career, Putney has been involved with hundreds of accounting firm M&A deals and also co-written more than 20 articles on succession-related issues for the Journal of Accountancy.
In this episode of Small Firm Philosophy, Putney addresses succession and related M&A issues including:
- Three trends besides succession that are driving accounting firm M&A
- Is the current firm M&A market favoring buyers or sellers?
- What small firm partners should be doing today so they can retire in a few years.
- What a two-stage deal is and why it’s well suited for solo practitioners and small firms.
Resources mentioned in the conversation:
- The JofA “Succession Series”.
- JofA article on “The Culture Test” in accounting firm mergers
- JofA article on “A two-stage solution to succession procrastination”.
- PCPS and Succession Institute 2020 Succession Planning Survey results, analysis and resources
Click on the link to contact Terry.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
The Private Companies Practice Section’s National Management of an Accounting Practice (MAP) Survey gathers key metrics from thousands of U.S. firms of all sizes. In this episode of the Small Firm Philosophy podcast, Steven Bankler, CPA, shares how he and his small firm break down the survey results to build a better practice.
Resources mentioned in this episode:
- National MAP Survey
To learn more about Steven, please visit bankler.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Robotic Process Automation, or RPA, has been a buzzword in the accounting profession for several years. Despite that, many practitioners don’t have a great grasp of what RPA is and what it can do for accountants. Wesley Hartman has spent much of the past eight years developing RPA solutions for midsize firm Kirsch Kohn Bridge (KKB), where he serves as director of technology. In this episode of the Small Firm Philosophy podcast, produced in partnership with the Journal of Accountancy podcast, Hartman shares how he has used RPA, how RPA can help accounting firms address key pain points, and why he and his firm are so bullish on the technology they have launched an RPA startup.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Click on the links to learn more about KKB or Automata or to contact Wesley.
Resources mentioned in the conversation:
AICPA & CIMA ENGAGE Conference
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
CPA firms and the clients they serve often view the world through a different lens. Tom Hood, the AICPA’s executive vice president of business engagement and growth, recently had the rare opportunity to engage both groups. In this episode of the Small Firm Philosophy podcast, Hood explores the common challenges – and shared solutions -- that CFOs and CPA face.
Resources mentioned in this episode:
- Top Issues Survey
- Business Learning Institute
- ENGAGE 2023
- CAS 2.0
- AICPA Town Hall
To learn more about Tom, follow him on LinkedIn or Twitter.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
The AICPA’s Private Companies Practice Section has been asking accounting firms to rank their top issues since 1997. But never has there been a list of concerns quite like the one produced by the 2022 CPA Firm Top Issues Survey. Listen in as two AICPA executives, Carl Peterson, CPA, CGMA, vice president of small firm interests, and Lisa Simpson, CPA, CGMA, VP of firm issues, offer their insights on the top takeaways from the 2022 Top Issues Survey.
Resources mentioned in this episode:
Resources mentioned
- AICPA Town Hall
- Succession planning center
- CPA cybersecurity checklist
- Hybrid work best practices
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, visit aicpa.org/pcps or email pcps@aicpa.org for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Loretta Tubiello-Harr, founder of Tubiello-Harr & Associates, LLC, was approaching retirement and set out to create an exit plan. What did it take for her to get her practice attractive to buyers, vet those potential sales, and finally execute a successful sale? Find out in this episode of the Small Firm Philosophy podcast from the AICPA’s Private Companies’ Practice Section (PCPS).
- Succession Planning Survey
- Succession Planning Guide & Tools
To learn more about Herbein + Company, Inc., please visit their website at herbein.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Loretta Tubiello-Harr, founder of Tubiello-Harr & Associates, LLC, was approaching retirement and set out to create an exit plan. What did it take for her to get her practice attractive to buyers, vet those potential sales, and finally execute a successful sale? Find out in this episode of the Small Firm Philosophy podcast from the AICPA’s Private Companies’ Practice Section (PCPS).
- Succession Planning Survey
- Succession Planning Guide & Tools
To learn more about Herbein + Company, Inc., please visit their website at herbein.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Dedicated volunteers play an essential role in helping the AICPA provide a more robust member experience. How can you get involved and what can you gain from the experience? Find out in this episode of the Small Firm Philosophy podcast as Erin Roche, CPA, CGMA, team leader with Elliott CPA Group, shares the personal and professional development opportunities she’s experienced through volunteering.
PCPS resources mentioned in this episode:
- AICPA Volunteer Central
- PCPS CPA Firm Competency Model
To learn more about Erin and Elliott CPA Group, please visit elliott.cpa.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Patrice Mills, CPA, was sunning herself on a Florida beach when she received an alarming phone call. All of her client files had been seized in a ransomware attack, and cybercriminals were demanding payment to release them. Listen in as Mills recounts this experience and shares best practices for keeping your firm’s data safe.
PCPS resources mentioned in this episode:
- PCPS CPA cybersecurity checklist
To learn more about Patrice, please visit https://www.millscpa.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Phishing schemes, ransomware attacks, and data breaches are on the rise. CPA firms and their client’s data are prime targets. Listen in as Roman Kepczyk, director of Firm Technology Strategy with Right Networks and author of Digitally Speaking, a PCPS exclusive publication, shares how you can protect your firm’s data from cybercriminals.
Resources mentioned in this episode:
- CPA cybersecurity checklist
- Digitally Speaking
To learn more about Roman, please visit https://www.rightnetworks.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
The AICPA’s Private Companies Practice Section Succession Planning Survey finds that 44% of solo and sole practitioners plan to retire soon. David Shealy, CPA, Founder of the Shealy Group, was approaching retirement age and set out to find an exit plan. Brandon Miller, CPA, President & CEO of HW&Co, was actively seeking growth through smart acquisitions. Listen to this episode of the Small Firm Philosophy podcast as David shares how he prepared his firm for an exit and what Brandon and HW&Co consider when acquiring a practice.
PCPS resources mentioned in this episode:
- Succession Planning Survey
- Succession Planning Guide & Tools
- Work on your firm now, retire well later
To learn more about HW&Co, please visit their website at hwco.cpa.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Public accounting Diversity, Equity, and Inclusion (DEI) initiatives are gaining momentum. Oftentimes, it can be the larger firms making the headlines, but small firms need not be overlooked. Listen to this episode of the Small Firm Philosophy podcast as Orume Hays, CPA, managing director of Hays CPA LLC, shares her first-hand experiences promoting diversity in a small firm.
Resources mentioned in this episode:
- PCPS Diversity and Inclusion Toolkit
- Establish the next generation of diverse CPAs
- Advancing diversity, equity, and inclusion in small firms
- McKinsey & Company: Delivering through Diversity
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
On this episode of the Small Firm Philosophy podcast, you’ll hear a clip from the AICPA’s November 18th Town Hall series featuring the AICPA’s Lisa Simpson, VP of Firm Services, Carl Peterson, VP of Small firms, Bill Pirolli, AICPA Chair and CPA.com’s CEO Erik Asgeirsson. This panel of experts discuss client acceptance and continuation decisions small firms can make before busy season.
Resources mentioned in this episode:
- Surviving Tax Season Checklist
- Client continuance evaluation tool
- Client acceptance evaluation tool
- Client termination practitioner checklist and notification letter
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Register for the next AICPA Town Hall series.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
The 2021 tax season is fast approaching. Is your firm ready? Listen to this episode of the Small Firm Philosophy podcast as Deb Rood, CPA and Risk Control Consulting Director at CNA shares best practices and resources to help your firm prepare for a successful tax season, this year and beyond.
Resources mentioned in this episode:
- Surviving Tax Season Checklist
- Client continuance evaluation tool
- Client acceptance evaluation tool
- Client termination practitioner checklist and notification letter
To learn more about AON, please visit cpai.com or call 800.221.3023.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org and schedule a free webtour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Burned out? Not enough hours in the day? In this episode of the Small Firm Philosophy podcast, Carrie Steffen, Co-Founder and President of the Whetstone Group, discusses how client acceptance and continuation policies can right-size your client base and positively impact your firm's people and profitability.
PCPS resources include:
- Client acceptance evaluation tool
- Client continuance evaluation tool
- Client termination practitioner checklist and notification letter
To learn more about Carrie, please visit www.thewhetstonegroup.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Creating a successful practice that meets your clients’ needs while providing satisfying and meaningful work for you and your staff requires focus, discipline, and time. Listen to this episode of the Small Firm Philosophy podcast as Jack A. Heil, CPA shares lessons learned while journeying from the Big 8 to a sole proprietor that loves what he does.
PCPS resources mentioned in this episode:
- Client continuance evaluation tool
- Client acceptance evaluation tool
- Client termination practitioner checklist and notification letter
To learn more about Jack, please visit www.jackaheilcpa.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, email pcps@aicpa.org to schedule a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
The AICPA’s Peer Review Board (PRB) is responsible for developing and issuing Standards for Performing and Reporting on Peer Reviews (standards). Listen as PRB Board Member Dawn Brenner, CPA breaks down the exposure draft proposing changes to the standards and discusses the potential implications for small firms.
Mentioned in this episode:
- Clarification of AICPA Standards for Performing and Reporting on Peer Reviews
- Template for comments and suggestions
- AICPA’s Peer Review homepage
To learn more about Dawn, please visit Grant Bennett Associates’ website at gbacpa.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
The Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey identified tax-related challenges affecting small firms. Listen as April Walker, CPA, CGMA Lead Manager, Tax Section and host of the Tax Odyssey podcast discusses these tax issues and what you can do to address these challenges.
Resources mentioned in this episode:
- Resources to address CPA firm top issues
- Client Evaluation Tool.
- PCPS CPA Firm Top Issues Survey
- Tax Odyssey podcast
- AICPA tax hub
- IRS Hotlines Quick Reference Chart
- Contacting the IRS FAQs
- Client Termination Practitioner Checklist and Notification Letter
- Extension Reminder Letter for Client Tax Return
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Small firms face familiar challenges in unprecedented times
What’s keeping you up at night as a firm owner? Listen to this clip from the AICPA’s September 2nd Town Hall series as the AICPA’s Lisa Simpson, VP of Firm Services, Carl Peterson, VP of Small Firms, Barry Melancon, CEO, and CPA.com’s CEO Erik Asgeirsson discuss the results from the 2021 CPA Firm Top Issues Survey.
- 2021 Top Issues commentary: Familiar challenges in extraordinary times
- Resources to address CPA firm top issues
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, visit aicpa.org/pcps or email pcps@aicpa.org for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
“Technology: it’s just oxygen. It’s the tools that are available to us and some of us breathe it better than others.” Listen as Byron Patrick, CPA and Manager with Botkeeper shares his take on technology in public accounting and what you can do as a small firm to stay in the know.
Resources mentioned:
- 2021 Top Issues commentary: Familiar challenges in extraordinary times
- Resources to address CPA firm top issues
- Digitally Speaking with Roman H. Kepczyk, Director of Firm Technology Strategy at Right Networks.
To learn more about Byron, follow him on Twitter or connect with him on LinkedIn. Find out more about Botkeeper at www.botkeeper.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, visit aicpa.org/pcps or email pcps@aicpa.org for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
“The average person spends about two hours per day in drama…and lack of accountability is one of the sources of drama”. Listen to this excerpt from the August 12th Town Hall Series as Reality-Based Leadership’s Alex Dorr joins Lisa Simpson, the AICPA’s VP of Firm Services and Eric Asgeirsson, CPA.com’s CEO, to discuss workplace drama and how to create an engaged and accountable firm culture.
Resources mentioned:
- Increase accountability in your firm
- Streamlining the “you got a minute?” meeting
- Gain insights for your firm with the Employee Value Self-Assessment
To learn more about Alex and Reality-Based Leadership, please visit their website at https://www.realitybasedleadership.com/.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, visit aicpa.org/pcps or email pcps@aicpa.org for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
The AICPA’s Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey has identified developing the next generation of firm leadership as a pressing concern for practitioners. Hear how Brent Forbush, CPA Managing Partner of Forbush and Associates, leads the way with staff development in his small firm and how you can start today in your practice.
Resources mentioned:
PCPS Firm Competency Model
AICPA Leadership Academy
Journal of Accountancy
Top firm challenges in unprecedented times
To learn more about Brent and his firm, please visit their website at forbushcpa.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, visit aicpa.org/pcps or email pcps@aicpa.org for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
The International Auditing and Assurance Standards Board (IAASB) has issued an exposure draft on auditing the financial statements of Less Complex Entities (LCEs). Listen to the latest episode of the Small Firm Philosophy podcast as Samantha Bowling, CPA, CGMA Partner with Garbelman Winslow CPAs provides a high-level overview of the exposure draft, the potential implications for small firms, and what you can do now to participate in the process.
Resources mentioned:
Exposure draft, proposed international standard on auditing of financial statements of Less Complex Entities
To learn more about Samantha, please visit https://www.gwcpas.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, visit aicpa.org/pcps or email pcps@aicpa.org for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
As highlighted in the Succession Planning Survey, small firms know they need a Practice Continuation Agreement (PCA) yet less than 10% have one in place. Listen as Mike Shost, CPA discusses key takeaways and best practices from his experience constructing and executing PCAs in his small firm.
PCPS resources mentioned in this episode:
- Practice Continuation Agreements: A Practice Survival Kit
- PCPA Succession Planning Resource Center
- Work on your firm now, retire will later
To learn more about Mike, please visit his website at shostcpa.com.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
The ASB’s proposed quality management standards are open for comments through Aug. 31. But small firms can get a head start on understanding the implications and ensuring ongoing A&A quality. In our latest episode of the Small Firm Philosophy podcast, Dustin Verity, CPA, CGMA Founder & Managing Partner Verity CPAs provides a high-level overview of the proposed standards, the potential implications for small firms, and what you can do to participate in the process.
Resources mentioned:
Exposure Drafts of Proposed SASs, SSAEs, and SQCSs
Get involved with the Technical Issues Committee (TIC)
To learn more about Dustin and Verity CPAs, please visit their website at www.veritycpas.com or follow them on Twitter @veritycpas.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
How did small firms keep up with the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) and other business relief programs to support their clients’ needs? Listen as Steven “The Singing CPA” Zelin, CPA shares how he and his staff educated themselves and assisted their clients during the pandemic and beyond.
Resources mentioned in this episode:
- AICPA Town Hall Series
- SBA Paycheck Protection Program (PPP) resources for CPAs
To learn more about Steven, please visit his website or follow him on YouTube.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
How did small firms cope with another tax season layered with business relief efforts, COVID, and filing extensions? Listen as Carl Peterson, CPA, CGMA, the AICPA’s Vice President of Small Firms, shares practitioner insights into tax season and where small firms are heading now.
PCPS resources mentioned in this episode:
- Register for the June 23 Small Firm Update
- Take the Top Issues Survey today!
- Where opportunity meets value: Business model trends for accounting advisory surveys
To learn more about Carl, read his bio or contact him directly by email at Carl.Peterson@aicpa-cima.com or by phone at 651.341.6377.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
Do you want to promote Diversity, Equity, and Inclusion (DEI) efforts in your firm but don’t know where to start? Listen as Crystal Cooke, Director of the Association’s member-facing Diversity & Inclusion team shares tips, resources, and experiences to help firms advance their DEI efforts.
Resources mentioned in this episode:
- AICPA Diversity and Inclusion Initiatives
- PCPS Diversity and Inclusion Toolkit
- The Business Case for Diversity and Inclusion
- Firm Competency Model
- Establish the next generation of diverse CPAs
- In celebration of women’s history month – supporting women’s initiatives in ALL firms
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
“Succession is easy. It’s a byproduct of running your business well.” Hear this and more practical information as the Succession Institute’s Bill Reeb, CPA and Tommye Barre, CPA discuss the high-level results from the PCPS and Succession Institute Succession Planning Survey.
Resources mentioned in this episode:
- Succession Planning Resource Center
- Succession Planning Survey Webcasts
- PCPS Networking Groups
- Top Issues Survey
- Growing a Practice in a Pandemic
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out www.aicpa.org/pcps or sign up for a free web tour.
To learn more about Bill and Tommye, please visit the Succession Institute’s website at www.successioninstitute.com.
Does the thought of starting a new business line keep you up at night? Are you trying to grow your firm but don’t know where to start? Hear how REDW’s Steve Cogan, CPA, managing principal, and Mike Allen, CPA, principal, grew the firm by listening to their clients’ needs and expanding their service offerings.
Resources mentioned in this episode:
- Trusted Client Advisor Toolbox
- Creating a One Page Strategic Plan
Note: If your podcast app does not hyperlink to resources, visit https://aicpasmallfirm.libsyn.com to access show notes with direct links.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
To learn more about REDW, please visit their website. Steve welcomes phone calls at (505) 998-3256.
Does the thought of speaking in public cause you stress? Do you want to get more involved in the profession but don’t know where to start? Hear how Luke Selvig, CPA and Manager with Boyum Barenscheer went from a reluctant, after work networker to committee chair and speaking in front of hundreds of people.
Resources mentioned in this episode:
- Firm Competency Model
- PCPS Firm inMotion e-Toolkit
- Networking Policy and Procedures Template
- Networking Preparation and Tips
- Relationship-Building Tracker and Report Out
- PCPS Networking Groups
Note: If your podcast app does not hyperlink to resources, visit aicpasmallfirm.libsyn.com to access show notes with direct links.
This episode is brought to you by the AICPA’s Private Companies Practice Section (PCPS), the home of small firms. To learn more about PCPS, check out our membership information or sign up for a free web tour.
To learn more about Boyum Barenscheer, please visit their website or read their blog. Attend Luke's session, "Step out of your comfort zone to achieve your maximum potential", at ENGAGE.
Follow the Small Firm Philosophy podcast at Libsyn.
Do you have difficulty finding, retaining, and developing ethnically diverse talent? The PCPS George Willie Ethnically Diverse Student Scholarship & Internship connects PCPS member firms with ethnically diverse accounting students. Tairu Jozaitus, Intern and Michael Jamison, CPA, President - OnTarget CPA, are current participants. Hear their experiences and how diversity initiatives are being advanced through this scholarship program.
Learn more about the George Willie Ethnically Diverse Student Scholarship & Internship.
To learn more about PCPS, check out the membership information or sign up for a free web tour.
To learn more about OnTarget CPA, please visit their website or read their blog.
Jacquelyn Tracy, CPA, CGMA Co-Founder of Mandel & Tracy, LLC is the Chair of the AICPA's Women's Initiatives Executive Committee (WIEC). Listen as she discusses available resources and toolkits for supporting women's initiatives and the positive impact they have on a firm.
Resources mentioned in the show:
- Supporting You in Women’s Initiatives
- Start A Women’s Initiative Program
- Connect with Women in the Profession
- CPA Firm Sponsorship Success Toolkit
- Women’s Global Leadership Summit
- Women’s Initiatives Executive Committee
To learn more about PCPS, check out the membership information or sign up for a free web tour.
How did 2020 small firm net revenue compare to 2019? How are small firms adjusting their real estate footprint post-COVID? Are small firms planning to decrease or increase hiring in 2021? Hear the answers to these questions and others as Carl Peterson, CPA, CGMA, the AICPA's Vice President of Small Firms, provides the results to the January 2021 AICPA pulse survey.
PCPS resources mentioned in this episode:
- Office Reopening Resources
- Client Disengagement Letter
- Succession Planning Resource Center
- Small Firm Update Webcasts
- Small Firm Solutions Newsletter
To learn more about PCPS, check out the membership information or sign up for a free web tour. To learn more about Carl, read his bio or contact him directly by email at carl.peterson@aicpa-cima.com or at 651.341.6377.
David Peters, CPA, CFP is the Founder and Owner of Richmond, VA-based David Peters Financial Group. Hear how David and his firm’s multiple service offerings has developed closer and more meaningful client relationships.
PCPS resources mentioned in this episode:
- From Administrative Assistant to COO
- Manager Moving up to Partner
To learn more about PCPS, sign up for a free web tour.
To learn more about David, please visit David Peters Financial Group.
Amanda Gessner, CPA, CFE is a Manager with North Dakota-based Schmitz-Holmstrom, CPA (S-H). Instead of just surviving the pandemic, Amanda and S-H are in growth mode. Hear how S-H is growing their practice, both organically AND through an acquisition, during a global pandemic.
To learn more about firm mergers, valuation, and more, please visit the PCPS Succession Planning Guide & Tools section.
To learn more about PCPS and the customizable tools and resources we develop for firms, sign up for a free web tour!
Schmitz-Holmstrom, CPA
Amanda Gessner, CPA, CFE
When Victor Amaya, CPA and his Partner founded their practice, they embraced the value pricing model. Hear how they challenged the traditional CPA firm model and built a practice based on transparency and open client communication.
Amy Swartzfager, CPA, MBA was hired as a Manager by Maloney, Reed, Scarpitti & Company, LLP (MRS) with the intention of training her as Partner. Hear how Amy navigates her career path and MRS follows their succession plan.
About Maloney, Reed, Scarpitti and Co.
- Maloney, Reed, Scarpitti and Co.
Donny Shimamoto is the founder and managing director of IntrapriseTechKnowlogies LLC, an advisory-focused CPA firm that has successfully been hiring and onboarding staff virtually for years now. Hear what Donny’s implemented at his firm and what tips he has for firms new to virtual hiring and onboarding.
About IntrapriseTechKnowlogies, LLC:
- IntrapriseTechKnowlogies, LLC
AICPA Resources:
- AICPA Small Firms
- Small Firm Update – December 3, 2020
Mentioned in this episode:
- Motivosity.com
Nukk-Freeman & Cerra, P.C. is boutique, women-owned law firm with offices in New York, New Jersey and California. Suzanne Cerra, Esq., Co-Founder and Partner and Robin Rome, Esq., Partner, share their insights into creating an award-winning culture and growing a successful practice.
About Nukk-Freeman & Cerra, P.C.:
- Nukk-Freeman & Cerra, P.C.
- https://www.linkedin.com/company/nukk-freeman-&-cerra/
AICPA Resources:
- Small Firm Update – December 3, 2020
- AICPA Outstanding Young CPA Award
- Walkthrough of the PPP Forgiveness Calculator
- Ransomware 2.0 – What to expect next
Rita Keller worked her way up the ranks from Administrative Assistant to Chief Operating Officer. In the process, she was instrumental in growing the firm from nine staff members to more than 150 and was named one of the Top 100 Most Influential People in Accounting and The Most Powerful Women in Accounting by Accounting Today. Listen to her story and gain valuable insight in navigating your career and growing a practice.
About Rita:
- Keller Advisors, LLC
- https://twitter.com/cpamanagement
- linkedin.com/in/cpamanagement/
Mentioned in this episode:
- Small Firm Update
- CAS Benchmark Survey
- Web tour sign up
Anita Dennis from Dennis Communications, LLC first began writing about virtual Public Accounting firms in 1997. She shares her thoughts on what firms were doing in the late 90s and the parallels to today.
Mentioned in this episode:
- Distributed by Design – A New Way of Working
- PCPS George Willie Ethnically Diverse Student Scholarship & Internship
- PPP Loan Forgiveness Calculator
- AICPA Town Hall Series
- Web tour sign up
Connect with the guest:
- Dennis Communications, LLC
- Anita on Twitter
- Anita on LinkedIn
Adam Shay, CPA and Managing Partner and Richard Pasquantonio, CPA, CFF, CFE, CFDA and Director – Dispute Services of Adam Shay CPA, PLLC discuss operations, business development, and hiring in the extraordinary times.
Mentioned in this episode:
- AICPA Town Hall Series
- Adam Shay CPA, PLLC
- https://twitter.com/adamshay
- https://www.linkedin.com/in/theadamshay
- https://www.linkedin.com/in/richardpasquantonio/
Lorraine Ellison is the owner of Simply Additions, a virtual accountancy firm in the UK. While the COVID-19 pandemic has elevated the need for Lorraine’s expertise and guidance within her existing client base, she’s also discovering ways to find and assist prospective clients. Hear how she has successfully continued networking in the required remote environment.
Mentioned in this episode:
- http://simply-additions.com/
With COVID-19 keeping school-aged kids at home, working parents are trying to navigate working and parenting in the same space.
Award-winning Kaiser Consulting has implemented a handful of initiatives to help their parents on staff with these issues. Lori Kaiser, CEO and Founder of the firm, shares what has worked with their staff.
Mentioned in this episode:
- Kaiser Consulting.com
- AICPA Small Firm resources
Firms of all size are struggling with how to develop and grow their staff in this remote environment. But small firms that may be used to having especially close-knit offices have been particularly impacted.
Erin Roche, Team Lead at Elliott CPA Group, Inc. shares what her firm is doing to address this issue and offers advice for small firms who are struggling in this area.
Mentioned in this episode:
- PCPS Performance Management toolkit
- Elliott CPA Group, Inc.
Victor Ramsauer, CPA, President and CEO and Sue Watson, EVP and COO of LevitZacks Certified Public Accountants share their insights on being ranked the 2019 Best Small Firm to Work For in the United States by Accounting Today.
Mentioned in this episode:
- LevitZacks Certified Public Accountants
- AICPA Leadership Academy
CPA firms of all sizes understand the business case for developing a diverse team. But many firms are challenged to find, retain and develop ethnically diverse talent.
Learn how PCPS partnered with five firms, including Kreischer Miller and Cover & Rossiter, to connect them with promising accounting majors of ethnically diverse backgrounds and hear how your firm can apply for the program.
Learn more about the PCPS George Willie Ethnically Diverse Student Scholarship & Internship Program at http://www.aicpa.org/PCPSscholarship
Andrew Jordan, CPA, is the seriously passionate about giving back. He shares how his start down the “typical CPA path” turned into owning his own firm that puts clients at the forefront of everything they do.
Learn more about Jordan CPA Services at www.jordancpaservices.com
Additional resources:
- PERMA is available at com/perma-model/
- AICPA COVID-19 Resource Center is available at AICPA.org/COVID19
Lexy Kessler, CPA, CGMA is the Partner-In-Charge of Aronson LLC’s Government Contract Services Group in Washington, DC. Lexy shares her firm’s successes and surprises in their journey to working remotely during the COVID-19 pandemic.
Learn more about Aronson LLC at www.aronsonllc.com.
Learn more about Lexy at https://www.linkedin.com/in/lexykessler.
Karen Stanley, CPA and Audit Partner with Langdon & Company, LLP in Garner, NC shares her firm’s successes and surprises in their journey from a traditional, local CPA firm to working remotely during the COVID-19 pandemic.
Learn more about Langdon & Company, LLP at www.langdoncpa.com.
Liz Mason, CPA is a serial-entrepreneur. Her passion for accounting started when she was just seven years old and now has successfully launched four brands in the accounting, tax, and HR space. She shares the story of what got her here and what’s next for her plan of #CPAworlddomination.
Learn more about High Rock Accounting at highrock.co.
Information about High Rock’s Nucleus program is available at nucleus.highrock.co.
Jeff Wilson II, CPA, PFS, CFE, CGMA, CDFA® started his career at a Big 4 firm and now has his own firm with seven people on staff. He talks about his path to becoming a firm owner, the struggles he overcame and the advice he’d give to himself if he were starting over.
Learn more about Jeff’s firm at wiicpas.com.
Christine DeAngelis, CPA is a working mom who owns three businesses. She talks about her journey from marketing student to CPA to CEO, and everything in between.
Christine's businesses:
- epiphanygroupinc.com
- cultivateconsulting.co
- bamboowellness.isagenix.com
Josh Lance, CPA, CGMA, shares his insights about running a completely virtual practice, covering everything from how he hires the right staff to where the mail gets delivered.
Learn more about Josh's firm at lancecpa.com.
Additional resources:
- PCPS "Remote team building and culture" toolkit at AICPA.org/PCPS
- "It Doesn't Have to Be Crazy at Work" by Jason Fried & David Heinemeier Hansson
- "Remote: Office Not Required" by Jason & David Heinemeier Hansson
When you multitask, you might think you're getting more done. In reality, you spend more time on the jobs than you would if you focused on each separately and completely. Getting in the present and ignoring distractions will help you focus on what you need to do. Working on one activity at a time will make you more productive. This meditation will show you how.
What’s happening inside you? Most of us are only aware of what’s happening on the surface. Through meditation, you can better connect to your body and mind. The understanding that results from this exploration can inform the experience you create for others, making you more receptive, calm and accepting. Your work and your personal life will both benefit.
Making time for self-care is crucial not only to your well-being, but also for how you interact with those around you. This meditation helps you find mental peace, bringing you greater focus in your day.
Your internal wellness can affect the people around you, as well as how you feel about them. In this meditation, called a “loving kindness” meditation, you’ll get better centered and able to show up for your day with the energy you want.
Trying to do too much at once can sap your energy. If you’re multitasking or not allowing yourself enough of a break between tasks, you could be robbing yourself of much-needed focus. This meditation helps you regain focus and improve your productivity.
Understand mindfulness and what it means in the context of a busy time at work. Reducing your stress, increasing your awareness without judgement and your presence in the moment are the goals of this guided meditation. The result? You can enjoy a productive day while also being aware of and mastering your emotions.
Matthew Wilson, CPA, CGMA and Maya Ivanova, CPA, CGMA of Wilson Ivanova CPAs share advice on how to stay up-to-speed on accounting standards changes that are effective or will soon be effective.
British management accountant, Barry Dovey, FCMA, CGMA, shares how offering a menu of services can help firms reduce hours and add value for their clients.
Carl Peterson, CPA, CGMA, of the AICPA and Matt Towers of CPA.com discuss the results of the 2019 PCPS CPA Firm Top Issues Survey. Key concerns for small firms include finding qualified staff, keeping up with tax law changes and managing privacy and security risks.
Bernie Ackerman, CPA/PFS, CGMA, and his son, Jason Ackerman, CPA, CGMA, talk about how they’ve abandoned the timesheet and successfully implemented value pricing in their firm.
Julie Killian, CPA, CGMA of Clayton McKervey talks with Bob Durak, CPA, CGMA, of the AICPA about her firm’s experience transitioning clients to using the Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs).
Learn more at AICPA.org/frf-smes
Dominique Molina, CPA, talks with Carl Peterson, CPA, CGMA, of the AICPA about how shifting to a value pricing model helped her tax firm increase the value of its services, reduce hours and strengthen its bottom line.
Ever wonder how your firm measures up? Curious about average fees in your area or around the country? Maybe you’d like to learn what average compensation looks like? Carl Peterson, CPA, CGMA, Vice President of Small Firm Interests and Joel Olbricht, CPA, CGMA, Chair of the PCPS Executive Committee discuss the AICPA National MAP survey, and how its information can help you answer these and many other questions.
Learn more about the Map Survey at AICPA.org/mapsurvey.
Carl Mayes, CPA, talks with Lindsay Patterson, both of the AICPA, about the role of risk assessment in audit quality. They share advice for small firms and point out helpful resources.
A small, Midwestern firm is implementing some forward-thinking strategies to stay ahead of the curve. Amber Goering, CPA, CGMA, of Goering and Granatino in Overland Park, Kansas, talks with Carl Peterson, CPA, CGMA, of the AICPA, about her firm's recent growth and plans for the future.
Dov Zaidman, CPA/CITP, CGMA, Managing Partner of ZBS Group in Plainview, New York, talks with Carl Peterson, CPA, CGMA, of the AICPA, about how his firm has successfully merged and acquired sole practitioners nearing retirement. Dov shares insight on leading a growing practice and integrating offices in two locations.
How did Chris Farmand, CPA, CITP, become the CPA of choice to so many craft breweries across the country? Lindsey Curley of the AICPA talks to Chris, CEO of Small Batch Standard and Managing Shareholder of Chris Farmand + Company in Jacksonville, Florida, about how he built up his CPA practice among such a niche industry.
Johanna Sweaney Salt, CPA, CGMA, partner at Gray, Salt & Associates LLP in Claremont, Calif., talks with Lisa Simpson, CPA, CGMA, of the AICPA about how supporting a strong firm culture is one of the keys to a successful practice. Johanna believes it's important to listen to and trust not only your partners, but your staff, too. Empowering your associates to offer and initiate innovative ideas can be very rewarding. Johanna's small firm also taps into the many local colleges to seek seasonal help for busy season. Listen to these topics and more.
Gabby Luoma, CPA, owner of GMLCPA in Tucson, Ariz., talks with Heather O'Connor of the AICPA about her philosophy on building a strong culture for her virtual firm.
The AICPA's Small Firm Philosophy shares big ideas about small firms. You'll hear from leaders of small accounting firms about their philosophies on running a successful practice in today's rapidly changing environment.