Overcoming Burnout to Create a Sustainable Accounting Practice

Earmark Podcast | Earn Free Accounting CPE

English - January 04, 2024 14:00 - 59 minutes - 54.5 MB - ★★★★★ - 13 ratings
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Previous Episode: The Young CPA Perspective on the Talent Shortage

Next Episode: Harness the Power of AI: Practical Uses for Accountants

Hitendra R. Patil joins Blake for an insightful conversation about the staffing shortage in the accounting profession, identifying overwork and lack of work-life balance as key issues causing high burnout rates. They explore potential solutions like dropping the billable hour model, measuring impact rather than hours worked, outsourcing certain tasks, and focusing on specific value-added services. Patil also describes how his company helps accounting firms efficiently leverage offshore talent.

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Chapters
(00:47) - Hitendra Patil joins the show

(03:24) - Let's talk about CAS

(04:43) - What do you see firms call their communication with clients?

(12:19) - National Association of Tax Professionals 2023 study

(13:27) - CAS is vague and firms need to figure out what they want to offer from it

(14:17) - What is causing the accounting shortage?

(20:35) - How big of problems are the overwork and pay?

(25:01) - More and more firms are offshoring work

(29:34) - How long is offshoring a viable option?

(32:52) - What are the accounting student numbers in India?

(35:03) - Korn Ferry study on future shortages of working professionals