7 min read

3 Ways COVID-19 Will Change the Future of Accounting Firms

By Jessica King on Oct 27, 2020 10:30:00 AM

On January 1, 2020, the Journal of Accountancy wrote that "Technology is going to bring huge changes in the 2020s." When the author wrote those words, they were thinking 5G, machine learning, and blockchain. 

Topics: COVID-19 Accounting firm transformation accounting firm predictions
8 min read

Preparing for the 2021 Tax Season Based on the Lessons of 2020

By Aaron Sullivan on Oct 7, 2020 4:00:00 PM

So far in 2020, accounting firms—like the rest of the global population—have had more ups and downs than a New York elevator, and there’s no sign that things might level out anytime soon. In fact, based on this year’s uncertainty, many experts believe the 2021 tax season will pack its fair share of complexities, as well.

Topics: COVID-19 2020 accounting lessons 2021 tax season
8 min read

5 Accounting Firms Thriving During COVID

By Aaron Sullivan on Oct 1, 2020 1:00:00 PM

Back in early 2020 when the entire world began to shut down because of the pandemic, accounting firms were already in the swing of their busiest season. They were handling tax write-ups and helping clients prepare their filings when suddenly, other clients were coming out of the woodwork in a panic. They urgently needed help navigating an entirely different situation—one that would test how well they had planned and how strong their business really was.

Topics: roundup COVID-19 accounting firm greatness
7 min read

3 Steps to Developing a Forward-Thinking Virtual Firm

By Jessica King on Sep 21, 2020 2:59:38 PM

The CPA firm of the future will likely look much different than how firms have looked for the past several years—and that doesn't have to be a bad thing! If the COVID-19 crisis has taught us anything, it’s that a virtual CPA firm is not only possible, but it’s necessary.

Topics: automated accounting COVID-19 remote firm Virtual accounting firm
9 min read

TALENT + TECH: HOW to Plan for the Accountant Shortage OF 2021

By Kalie Souknary on Sep 9, 2020 1:00:00 PM

It was already predicted that in 2020, we would see a shortage of accountants within the industry. With COVID-19 causing a record high in unemployment, Accounting Today reported professional and business services shed 2.1 million jobs in April of this year, including nearly 68,000 in accounting and bookkeeping.

We're already seeing the shortage take effect—the U.S. Bureau of Labor Statistics reports that year-over-year growth for accounting and bookkeeping services is down almost 2%

If it’s possible to compensate for emerging shortage, accounting firms will have to adjust their hiring process in order to do so.

Topics: COVID-19 hiring accountant retention CPA firm success
6 min read

COVID-19 and Beyond: Big Decisions for CPA firms

By Jessica King on Aug 5, 2020 10:30:00 AM

The coronavirus pandemic is pushing people from every industry (and all walks of life) to make big changes to the way things work. For accounting firms, those changes are starting to center around innovation, a little discipline, and lots of blending of old and new accounting methodologies.

Topics: accounting advice COVID-19 cpa firm CPA firm advice
8 min read

Reopening Your CPA Firm After COVID: Expectations vs. Reality

By Jessica King on Aug 4, 2020 10:00:00 AM

At some point in life, everyone experiences the disappointment that comes when they realize their expectations didn't align with reality. Especially these days, it's difficult to make your hopes and the real world line up.

Topics: Accounting firm tips COVID-19 reopening cpa firm
8 min read

PPP and ADP Are Making Payroll Sexy…Finally

By Jody Padar on Aug 3, 2020 10:45:00 AM

Recently I talked all things related to the Paycheck Protection Program (PPP)—from loan application to forgiveness—with ADP's service specialist, Erron Stark, who delivers first-class services and solutions to the accounting community nationwide.

Topics: Accounting firm tips COVID-19 cpalove
3 min read

CPA Firm Leadership: How to Address Layoffs

By Jody Padar on Jul 30, 2020 10:00:00 AM

There's been a lot of energy put toward modeling our economy during the COVID-19 crisis on past events, whether it be the Great Recession or the Great Depression. Either way, those models cannot anticipate the trajectory of this virus, nor can they quell the anxiety of financial advisors. Here, Jordan Birnbaum, ADP’s inhouse behavioral economist, shares his thoughts on how to lead during a global health and financial crisis.

Topics: The Radical CPA Leadership Accounting firm tips COVID-19 cpalove
8 min read

Is Your CPA Firm’s Culture Intact?

By Jody Padar on Jul 28, 2020 2:06:07 PM

CPA firms are looking at the future of their businesses and coming to terms with new realities; working remotely, implementing rotating schedules, and an infinite number of hybrid options are looming large on the horizon. At stake in these new operating scenarios are management styles, firm culture, and employee assessments to name a few. To get to the bottom of what your firm’s objectives are and how to get your employees to strive for achievement, I talked to Jordan Birnbaum, ADP’s inhouse behavioral economist.

Topics: Accounting firm tips COVID-19 cpalove Accounting firm culture
7 min read

Life Post-COVID: Lasting Effects on the Accounting World

By Jody Padar on May 12, 2020 1:30:00 PM

CONTENT CREATED WITH LOVE FROM ADP
Have you been wondering how the accounting world will be impacted over the coming months and years by the pandemic?
 
To find out, I sat down with Dan Hood, editor-in-chief of Accounting Today. With more than 20 years of experience covering the accounting industry, Dan has covered many financial dips, and he shared the latest from Accounting Today’s Accounts Confidence Index (ACI) done in conjunction with ADP.
Topics: The Radical CPA accounting advice COVID-19 cpa cpalove
4 min read

COVID-19...The Great Disruptor

By Jody Padar on May 6, 2020 2:00:00 PM

Content Created with Love from ADP

The Financial advisory world is on the frontlines of the financial crisis, and the disparity between those firms that already took the leap to cloud-based tech and those that did not is huge! Tom Hood’s emphasis is not how to be ready for the day you're walking into, but how to be ready for the future, tech included. He’s going to layout simple ways to get you through COVID mania and how to make your firm #FutureReady. Jody Padar sat down with Tom Hood, executive director and CEO of the Maryland Association of CPAs to discuss how.

Topics: coronavirus accounting advice COVID-19 cpa cpalove

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