The internet is full of misinformation, and that’s no surprise to anyone. In fact, 52% of Americans believe they’re served fake news on a regular basis. And the leading source of misinformation? You guessed it—social media. A classic example: how many times have you seen headlines in your feed announce the death of a beloved celebrity, only to find out later that you were duped?

It happens all the time.

Here’s some exciting news for automation nerds like us: automated bookkeeping services are rapidly gaining in popularity! We know—it’s pretty cool. In fact, according to Sage’s Practice of Now 2020 report, 73% of surveyed accounting professionals are confident when it comes to providing tech recommendations like AI and automation.

When you think of a CPA firm that seems to have it all together, what comes to mind? Is it their services and clientele? Their firm size or funding? Maybe it’s their influence in the accounting and business communities?

There are lots of reasons why a CPA firm might be ready for acquisition. Business climate changes, firm growth, or partners reaching retirement age are some of the most common.

Regardless of why you're interested in getting your CPA firm acquired, it's important to understand that the process can look different depending on your level of preparedness. This article will cover eight tips to help you prepare your firm for acquisition.

We’ve come a long way from using floppy disks and CDs to store our business data and files. These days, many people and businesses have moved to the cloud for data storage and file management, and others use servers housed in office closets and storage rooms. Still others—especially in the accounting industry—continue to operate from paper files in filing cabinets!

There are usually two ways social media is perceived by accountants. One side, perhaps most often from the newer accountants, loves it and sees it as a great way to stay up to date with the latest news or trends. The other side might view social media as nothing more than a distraction or just another annoying time-waster on their phone.

Truth be told: we get it.

In the scramble to adjust to running an accounting firm during a pandemic, many firms invested in new technology to help them bridge the gap between a traditional in-office operation and a new virtual approach. And understandably so—it was an unforeseen challenge that caught most industries and businesses off-guard. Accounting firm leaders might have even said things like, “We just need to get by,” and, “Do whatever it takes,” so they could put their clients and staff first by patching together new processes for survival.

As the leader of an organization of 100+ amazing people coming from various backgrounds, religious views, and lifestyles, it’s always been important to me that we go above and beyond in being inclusive, supportive, and understanding. This is a vital component to our company culture and a standard that I, as a CEO, team member, friend, brother, son, husband, and father, hold dear. For that reason, we as an organization have always been delicate with our publicized stance on areas of politics or social happenings—it has never really struck me as “fair" to speak for a large group of people or summarize what is often a complex and multi-layered subject. This said, I feel it’s important to post this.

Technology advancements over the past five years have changed the business landscape completely—and the evolution isn't slowing down anytime soon. This is especially true in the accounting space, where we’ve seen a large pop in the progression of technology over the last two to three years. With artificial intelligence, machine learning, and robotic process automation being used to take on traditionally laborious work, today’s accounting professionals and business owners now have the ability to complete far more tasks in a much shorter period of time.

Blockchain technology, along with being a new buzzword, is also one of the most exciting technologies of the 21st century. A universally decentralized ledger system that can share data among an infinite number of users—a blockchain is unhackable. Due to its ability to share data and simultaneously record real-time transactions on every single computer connected to its network, the technology can’t be interfered with. If anyone tries to hack or scam a blockchain, the entire chain takes notice, and the chain will be forked where the hack happened, eliminating the culprit from the chain.

The world in the time of Corona is upside-down! The first thing to acknowledge is that in the next six to ten months, new legislation, new social and professional norms, and new practices in every sector will become solidified to create a new normal. Where does this position CPAs?