CPA Trendlines Podcasts

Private equity in accounting could boost firm value, but at what personal cost?

Accounting Influencers
with Rob Brown

In a deep dive into private equity’s involvement in accounting, Gary Shamis, CEO of Winding River Consulting, describes how investment firms see value in the sector's steady cash flows and resilient recession history. “It’s not that accounting is recession-proof,” Shamis states, “but its inherent stability during economic downturns is highly appealing to investors.” He adds that accounting firms with strong advisory practices, which offer scalable revenue opportunities, are of particular interest to private equity.

The conversation takes a sobering turn as Shamis highlights the ongoing talent shortage within the profession. With fewer accountants entering the field and a growing demand for regulatory and advisory services, Shamis emphasizes that private equity deals won’t solve the critical issue of human capital shortage. “There’s just not enough talent in the pipeline,” he cautions.

"Speed and being nimble are critical to being able to try new things and iterate quickly."

Gear Up For Growth

With Jean Caragher

For CPA Trendlines

Alan Whitman, CEO of ADW Advisory, formerly led Baker Tilly U.S. through a meteoric rise from $475 million to $1.5 billion in revenue. In this episode of Gear Up For Growth, he shares his wealth of experience and insights.

Gear Up for Growth spotlights the best strategies for smart and effficient growth in today's competitive landscape. More Gear Up for Growth every Friday here. | More Capstone Conversations with Jean Caragher every Monday | More Jean Caragher here | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | More CPA Trendlines videos and podcasts here

One of the central themes of the conversation is the potential for smaller CPA firms to outpace their larger counterparts in innovation and agility. Whitman highlights the advantages small firms have, such as their ability to pivot quickly and try new approaches without the bureaucratic hurdles larger organizations face. “Speed and being nimble are critical,” Whitman asserts. However, he notes that smaller firms must adopt a forward-thinking mindset, emphasizing, “Hopefully, smaller firms aren’t biased by always doing it the way you’ve done it in the past.”

Social media users jumped on a Chase ATM “free money” scheme—but the consequences were severe.

Accounting ARC
With Liz Mason, Byron Patrick, and Donny Shimamoto.
Center for Accounting Transformation

In the age of social media, financial misinformation can spread as rapidly as it’s created, and the Chase Bank ATM scam exemplifies this.

Your pricing isn’t aligned with the future, and neither is your business model. Plus: 18 more takeaways.

The Disruptors 
With Liz Farr 

Jody Padar, The Radical CPA, has been pushing for big changes in accounting for years. Her latest book, Radical Pricing, is a blueprint for firm owners who want to fully transform their businesses to serve clients better, make employees happier, and be more profitable. Padar maintains that combining pricing with standardization and productization drives firm profitability. 

FULL show notes here | MORE Disruptors here  |  MORE PODCASTS and VIDEOS: Rebecca Driscoll: Amplify Reach By Helping Other Firm Owners | Rory Henry: Create the Return on Relationships | Mike Maksymiw: Be the Leader You Wish You Had | Terrell Turner: Build a Solid Business Showing Up as Yourself | 

This handbook isn’t just about “putting pricing on something,” Padar says. “That’s putting lipstick on a pig.” Many firms that have tried value pricing say it doesn’t work, but Padar says that’s because their business model isn’t aligned with their pricing. “If you leave the old school model and just put pricing on top of it, you're going to struggle,” she says. Radical Pricing walks readers through a process of standardizing and productizing services, defining the ideal customer, developing pricing, and even explaining how to bring legacy customers on board.  

"Marketing CPA firms in a sea of sameness is challenging, but when you niche down, the possibilities are limitless."

By Jean Caragher

For CPA Trendlines

In the latest episode of Capstone Conversations, Stacy Dreher, the Director of Practice Growth at James Moore & Company and the Association for Accounting Marketing’s (AAM) 2024 Marketer of the Year, dives into the world of accounting marketing and offers applicable advice for CPA firms of all sizes. 

Follow Jean Caragher on CPA Trendlines here. | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | Catch Jean Caragher's other show, Gear Up for Growth, on Fridays here. | And browse all the shows in the CPA Trendlines broadcast network here

Dreher’s journey in the field is nothing short of inspiring. Having joined James Moore & Company in 2014 as a marketing manager, she rose to Director of Practice Growth by 2020, a time that tested marketing professionals like never before. Her leadership has helped shape a dynamic six-member team, navigating challenges and opportunities in an ever-evolving industry.

Having a growth mindset, seeking feedback, and auditing one's skills are essential to continuous learning and development.

Accounting Influencers

with Rob Brown

Bailey Parnell, owner of Skills Camp, emphasizes the importance of soft skills in the workplace, particularly in high-pressure professions like accounting. She stresses that grit is just one element of resilience and that soft skills are often the skills that characterize our relationships with ourselves and others. Parnell also explains how the VUCA acronym—Volatility, Uncertainty, Complexity, and Ambiguity—applies to the current workplace environment and how soft skills are crucial in navigating it.

Full Show Notes Here | More Accounting Influencers with Rob Brown here

Parnell discusses the need for a growth mindset and being open to continuous learning and development. She stresses the importance of seeking feedback and auditing one's skills to identify areas that require action, especially with the increasing automation of some roles.

"Clients want value, and now, with these tools, you can give them more value."

Gear Up for Growth

With Jean Caragher

For CPA Trendlines

“AI and ChatGPT-type tools can become your advisory services assistant,” says John Higgins, founder and CEO of Higgins Advisory. “It can help CPAs communicate better as an advisor and help identify the things CPAs should focus on for the type of client they're advising.” 

Gear Up for Growth spotlights the best strategies for smart and effficient growth in today's competitive landscape. More Gear Up for Growth every Friday here.| More Capstone Conversations with Jean Caragher every Monday | More Jean Caragher here | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | More CPA Trendlines videos and podcasts here

Higgins was a guest on Gear Up for Growth, hosted by Jean Caragher, president of Capstone Marketing, and powered by CPA Trendlines. Higgins shares specific examples of how ChatGPT can help CPAs become more efficient by providing quick research assistance, summarizing complex information for client presentations, and creating tools like Excel templates for common tasks. How does efficiency impact a firm’s pricing model? 

Quick Tax Tip 
With Art Werner 
CPE Today  

As the end of 2024 draws closer, tax advisors and taxpayers should prepare for major changes that could significantly impact tax bills. Art Werner highlights an upcoming challenge: the scheduled expiration of the Tax Cuts and Jobs Act (TCJA), which was signed into law in 2017 and brought significant tax breaks and lower tax rates.

Show notes here | More Art Werner here 

Like many tax laws, the TCJA was designed to "self-destruct," meaning its provisions will sunset at the close of 2025 unless Congress takes action.

From free speeches to paid engagements, thought leaders discuss breaking into the speaking circuit and what they’ve learned along the way.

Accounting ARC

With Liz Mason, Byron Patrick, and Donny Shimamoto.

Center for Accounting Transformation

In this episode of Accounting ARC, Donny Shimamoto, Liz Mason, and Byron Patrick dive into the world of paid speaking engagements. They share their experiences, the evolution from free to paid gigs, and how speaking has become a key part of their careers. Learn about the challenges, the feedback, and how each seasoned speaker maintains authenticity on stage. For anyone looking to break into speaking, this episode offers invaluable insights on honing your craft, connecting with audiences, and transitioning to the paid model.

MORE Accounting ARC: Rachel Bashore: A Lawyer's Case for Reinventing Accounting | Beyond the Basics in Ethics Education | Bailey Lenart: From Ledger Sheets to Transformational Change | Election Tax Plans: What CPAs Need to Know | Leadership for the Future: Stakeholders, Sustainability, and Strategic Vision | In-Person Conferences Still Essential | Non-Accountants in Accounting: A Game-Changer for the Profession

Find your unique voice in the profession, and don’t be afraid to innovate. 

Accounting ARC

With Donny Shimamoto.

Center for Accounting Transformation

Greg Kyte defies every stereotype of the typical accountant. Kyte, a licensed CPA and in-house accountant for a company managing medical office buildings, is also a stand-up comedian. 

In a recent interview on Accounting ARC, hosted by Donny Shimamoto, CPA, CITP, CGMA, Kyte discussed his unconventional journey and how he uses humor to engage audiences in the accounting field. 

MORE Accounting ARC: Rachel Bashore: A Lawyer's Case for Reinventing Accounting | Beyond the Basics in Ethics Education | Bailey Lenart: From Ledger Sheets to Transformational Change | Election Tax Plans: What CPAs Need to Know | Leadership for the Future: Stakeholders, Sustainability, and Strategic Vision | In-Person Conferences Still Essential | Non-Accountants in Accounting: A Game-Changer for the Profession

Before entering accounting, Kyte spent over a decade teaching middle school math. Reflecting on the shift, Kyte recalls, “After 10 years, I realized I wasn’t enjoying teaching anymore, and I knew it was time for a change.” Driven by his longstanding interest in numbers and the promise of stability, Kyte made the leap to accounting. “I had always loved math and organization, so accounting was a natural fit,” he adds. 

Kyte’s current role as an in-house CPA for a commercial real estate company involves a blend of accounting and property management, including overseeing financial operations, contract reviews, and even some maintenance oversight. 

"I get to make up my title to fit whatever circumstance I'm in," he says with a laugh. "If I want to flex on somebody, I'm the CFO. If I'd like to dodge responsibility, I'm an accounts payable clerk."