Episodes
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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.
Want more? Dive into our business model transformation resources. To get more insights on business model transformation and access new podcast episodes automatically and free, follow our show via our podcast homepage.
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 [email protected]
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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.
Follow our show to get new episodes automatically and free. Head over to our podcast homepage to explore more insights on business model transformation.
Want more? Dive into business model transformation resources.
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 [email protected]
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Episodes manquant?
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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 [email protected]
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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 [email protected]
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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 [email protected]
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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.
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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.
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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 [email protected]
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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.
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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.
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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.
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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.
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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.
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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.
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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."
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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.
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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.
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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.
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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)
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