Small Firm Philosophy
147 episodes - English - Latest episode: about 1 month ago - ★★★★★ - 4 ratingsThe AICPA and CIMA's Small Firm Philosophy podcast, produced by the AICPA's Private Companies Practice Section, shares big ideas designed to help CPAs better run accounting firms, especially smaller ones. You'll hear from firm leaders and subject-matter experts on key issues and considerations for small firms in today's rapidly changing environment.
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Episodes
SFP 94: How a data-driven approach powered this firm's transformation
March 20, 2024 16:13 - 48 minutes - 44.6 MBThis 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 ong...
SFP 93: New PCPS toolkits tackle revenue modeling and culling clients
March 14, 2024 15:15 - 44 minutes - 41.2 MBThis 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)....
SFP #92: Sowing the seeds for future CPAs
February 28, 2024 12:00 - 1 hour - 88.8 MBFrom 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 Hartm...
SFP #91: Ascend to a new business model
February 21, 2024 12:00 - 51 minutes - 47.7 MBThis 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 ...
SFP 90: How a CPA firm got lean and ‘drastically reduced’ overtime
January 31, 2024 11:00 - 59 minutes - 54.5 MBThis 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 r...
SFP 89: Business model transformation with SJHL's Chet Buchman
January 17, 2024 13:09 - 39 minutes - 36.9 MBThis 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 ...
SFP 88: Advice for firms on BOI requirements, MAP Survey results
November 22, 2023 16:51 - 27 minutes - 37.8 MBThis 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 ...
SFP 87: A Revolution in 'right-sizing' a client base
October 02, 2023 20:09 - 45 minutes - 41.7 MBThis 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, co...
SFP #86: Five children, 3 businesses, 1 CPA's story
September 20, 2023 11:23 - 30 minutes - 42.4 MBNicole 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 ...
SFP #85: Chatting about generative AI
August 16, 2023 04:01 - 22 minutes - 31.3 MBThere’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 lik...
SFP #84: How to cut busy season hours in half (almost)
July 19, 2023 11:00 - 20 minutes - 28 MBJohanna Sweaney Salt, CPA, CGMA, used to work 100 hours a week during busy season. As the founder and managing partner of Gray, Salt & Associates, LLP, she believed it was her responsibility to put in the time needed to make her small firm a success. Today, Joanna remains a full-time partner at the firm, but her son, Dalton Sweaney, CPA, is now the managing partner. His desire a few years ago to spend more time with his young children prompted him to ask his mother if they could make some ...
SFP 83: Defying description, this CPA firm is a real Dark Horse
June 21, 2023 11:00 - 43 minutes - 59.5 MBA firm in a box. A franchise on steroids. The Uber (or Lyft) of CPA firms. To say that the business model of Dark Horse CPAs is difficult to describe is an understatement of the highest order. So exactly does Dark Horse do? What makes it unique? And what prompted CEO and co-founder Chase Birky to try a radically different business model? Find out as Lisa Simpson, the AICPA’s vice president of Firm Services, interviews Birky in a special edition of the Small Firm Philosophy podcast, p...
SFP 82: Bots pose new threat to CPA firms
May 17, 2023 06:47 - 23 minutes - 32.1 MBRoman Kepczyk, CPA.CITP, CGMA, director of firm technology strategy for Right Networks and author of the AICPA & CIMA’s CPA cybersecurity checklist, joins the Small Firm Philosophy podcast to discuss current cyberthreats and what CPA firms should be doing to protect their data and networks. Host Jeff Drew also asks Roman a fun question about that technology he is most excited about, and Roman respond with an intelligence answer. In this podcast you will learn: The biggest new cyber...
SFP 81: How to transform a partner compensation model
April 19, 2023 08:10 - 24 minutes - 19.4 MBIncentivize the behaviors you want. That was the theory behind GRF CPAs & Advisors’ decision to change its partner compensation model several years ago. Firm leaders knew that if they wanted their partners to operate as a cohesive team, they needed to stop paying partners in ways that drove individualistic behaviors. More than five years later, GRF President and Managing Partner Jackie Cardello, CPA says that while the process was a lot of work, the results “absolutely” have been well wort...
SFP 80: Tech experts on ChatGPT, RPA, security, FTX, Web 3.0
March 15, 2023 12:38 - 50 minutes - 70.3 MBChat bots that can write Excel macros. The internet’s first evolutionary leap since the 1990’s. And whatever happened to blockchain? Those are just a few of the topics covered by three top accounting technology experts during a special edition of the Small Firm Philosophy podcast, produced in partnership with the Journal of Accountancy podcast. This double-length episode features the first gathering of the JofA accounting technology roundtable since the early days of the pandemic. Particip...
SFP #79: How to protect digital assets from hackers
February 03, 2023 14:53 - 22 minutes - 31.9 MBMany small accounting firms may not have heard much about digital assets beyond bitcoin and the FTX bankruptcy, but accountants have two big reasons to learn more about the topic. First, the acceptance of digital assets as payment has steadily grown among accounting firms and especially their clients. Second, cyberattacks are increasingly targeting digital assets. The combination of these trends means that even small firms should learn about digital assets, gain an understanding of the cyb...
SFP 78: One woman’s journey from Africa to accounting firm ownership
January 19, 2023 12:00 - 23 minutes - 18.7 MBOrumé Hays, CPA, CGMA, didn’t exactly follow a traditional path to owning an accounting practice. From Africa to the Big Apple, she blazed a trail all her own. Raised in Nigeria, Hays moved to Miami with a college degree in sociology and anthropology and a budding career in modeling and acting. Her pursuit of Hollywood stardom peaked with a couple of appearances in the 1996 movie “The Birdcage”. She then discovered a new passion. Trading in the silver screen for spreadsheets, Hays e...
SFP 77: The CPA’s guide to technology (and tech gifts)
December 08, 2022 12:00 - 24 minutes - 33.7 MBThe CPA’s guide to technology (and tech gifts) There are few, if any, people in the accounting space who know more about technology than Inspector Gadget. No, not the cartoon character with the go-go arms from the 1980s. The man wearing the trench coat in this case is David Cieslak, CPA.CITP, CGMA, executive vice president and chief cloud officer for RKL eSolutions and a popular speaker whose Inspector Gadget keynote session has been a highlight of accounting conferences for many years. ...
SFP 76: How to make busy season more fun and more productive
November 29, 2022 12:00 - 26 minutes - 36.7 MBIt's the holidays, that special time of the year when children wish for their dream gift and CPAs pray that the looming busy season won't be another nightmare. Rabecca Eunis, CPA, knows the feeling. As a new accountant working for her father’s firm, Eunis learned to dread and despise tax season. The mad, miserable dash to Tax Day was so stressful that Eunis launched her own practice vowing that her team wouldn’t suffer the way she did. Fun, she believed, should be a key part of busy seaso...
SFP 75: Two cyberthreats CPA firms should fear this Halloween
October 27, 2022 11:00 - 18 minutes - 14.7 MBGhosts, goblins and ghouls aren't the only scary things to watch out for this Halloween season. Hackers and criminal organizations are up to their old tricks -- and some new ones -- in their tireless efforts to breach your cyberdefenses and treat themselves to your computer networks and data. So what kinds of spooky schemes are haunting CPA firms? And what can practitioners do to protect themselves and their clients? The Small Firm Philosophy podcast addressed those questions with Sarah ...
SFP 74: What a CPA learned starting his own advisory firm
October 13, 2022 20:14 - 29 minutes - 40.7 MBLaunching an advisory firm after 20 years in public accounting requires courage, confidence and commitment. It also helps to get some business coaching and to focus on changing customer needs. Those are some of the lessons Zack Ryan, CPA, shares in this episode of the Small Firm Philosophy podcast. The founder of Value Forward Advisory explains how meeting regularly with business owners on a fixed-fee basis has relieved workload congestion and produced much improved revenue and profit per ...
SFP 73: What firms should know about succession and M&A
September 22, 2022 12:00 - 26 minutes - 36.3 MBTerrence Putney, CPA, managing director with Whitman Transition Advisors, is among the top advisers on accounting firm mergers nationwide. Over his 44-year career, Putney has been involved with hundreds of accounting firm M&A deals and also co-written more than 20 articles on succession-related issues for the Journal of Accountancy. In this episode of Small Firm Philosophy, Putney addresses succession and related M&A issues including: Three trends besides succession that are driving acco...
SFP 72: How MAP Survey results improve small firm management
September 15, 2022 23:29 - 19 minutes - 26.5 MBThe Private Companies Practice Section’s National Management of an Accounting Practice (MAP) Survey gathers key metrics from thousands of U.S. firms of all sizes. In this episode of the Small Firm Philosophy podcast, Steven Bankler, CPA, shares how he and his small firm break down the survey results to build a better practice. Resources mentioned in this episode: National MAP Survey To learn more about Steven, please visit bankler.com. This episode is brought to you by the AICPA’s ...
SFP #71: How RPA paid off for this accounting firm
August 25, 2022 17:00 - 26 minutes - 36.8 MBRobotic Process Automation, or RPA, has been a buzzword in the accounting profession for several years. Despite that, many practitioners don’t have a great grasp of what RPA is and what it can do for accountants. Wesley Hartman has spent much of the past eight years developing RPA solutions for midsize firm Kirsch Kohn Bridge (KKB), where he serves as director of technology. In this episode of the Small Firm Philosophy podcast, produced in partnership with the Journal of Accountancy podcas...
CFOs and CPA firms: Common staff development challenges
August 09, 2022 17:11 - 21 minutes - 30 MBCPA firms and the clients they serve often view the world through a different lens. Tom Hood, the AICPA’s executive vice president of business engagement and growth, recently had the rare opportunity to engage both groups. In this episode of the Small Firm Philosophy podcast, Hood explores the common challenges – and shared solutions -- that CFOs and CPA face. Resources mentioned in this episode: Top Issues Survey Business Learning Institute ENGAGE 2023 CAS 2.0 AICPA Town Hall ...
Survey says firms face many top issues
July 21, 2022 19:17 - 19 minutes - 26.5 MBThe AICPA’s Private Companies Practice Section has been asking accounting firms to rank their top issues since 1997. But never has there been a list of concerns quite like the one produced by the 2022 CPA Firm Top Issues Survey. Listen in as two AICPA executives, Carl Peterson, CPA, CGMA, vice president of small firm interests, and Lisa Simpson, CPA, CGMA, VP of firm issues, offer their insights on the top takeaways from the 2022 Top Issues Survey. Resources mentioned in this episode: R...
The secrets of selling your small firm
June 27, 2022 15:59 - 41 minutes - 57.7 MBLoretta Tubiello-Harr, founder of Tubiello-Harr & Associates, LLC, was approaching retirement and set out to create an exit plan. What did it take for her to get her practice attractive to buyers, vet those potential sales, and finally execute a successful sale? Find out in this episode of the Small Firm Philosophy podcast from the AICPA’s Private Companies’ Practice Section (PCPS). Succession Planning Survey Succession Planning Guide & Tools To learn more about Herbein + Company, Inc....
The secrets of selling your small firm
June 27, 2022 15:59Loretta Tubiello-Harr, founder of Tubiello-Harr & Associates, LLC, was approaching retirement and set out to create an exit plan. What did it take for her to get her practice attractive to buyers, vet those potential sales, and finally execute a successful sale? Find out in this episode of the Small Firm Philosophy podcast from the AICPA’s Private Companies’ Practice Section (PCPS). Succession Planning Survey Succession Planning Guide & Tools To learn more about Herbein + Company, Inc....
Volunteer for personal and professional growth
June 03, 2022 14:58 - 27 minutes - 38.4 MBDedicated volunteers play an essential role in helping the AICPA provide a more robust member experience. How can you get involved and what can you gain from the experience? Find out in this episode of the Small Firm Philosophy podcast as Erin Roche, CPA, CGMA, team leader with Elliott CPA Group, shares the personal and professional development opportunities she’s experienced through volunteering. PCPS resources mentioned in this episode: AICPA Volunteer Central PCPS CPA Firm Competenc...
Ransomware attack: One small firm’s worst nightmare
May 18, 2022 20:58 - 19 minutes - 26.7 MBPatrice Mills, CPA, was sunning herself on a Florida beach when she received an alarming phone call. All of her client files had been seized in a ransomware attack, and cybercriminals were demanding payment to release them. Listen in as Mills recounts this experience and shares best practices for keeping your firm’s data safe. PCPS resources mentioned in this episode: PCPS CPA cybersecurity checklist To learn more about Patrice, please visit https://www.millscpa.com. This episode is ...
CPAs: Not boring to cybercriminals
May 04, 2022 16:59 - 31 minutes - 43.1 MBPhishing schemes, ransomware attacks, and data breaches are on the rise. CPA firms and their client’s data are prime targets. Listen in as Roman Kepczyk, director of Firm Technology Strategy with Right Networks and author of Digitally Speaking, a PCPS exclusive publication, shares how you can protect your firm’s data from cybercriminals. Resources mentioned in this episode: CPA cybersecurity checklist Digitally Speaking To learn more about Roman, please visit https://www.rightnetwork...
M&A best practices: Insights from a small and large firm perspective
February 28, 2022 21:04 - 34 minutes - 47.4 MBThe AICPA’s Private Companies Practice Section Succession Planning Survey finds that 44% of solo and sole practitioners plan to retire soon. David Shealy, CPA, Founder of the Shealy Group, was approaching retirement age and set out to find an exit plan. Brandon Miller, CPA, President & CEO of HW&Co, was actively seeking growth through smart acquisitions. Listen to this episode of the Small Firm Philosophy podcast as David shares how he prepared his firm for an exit and what Brandon and HW&Co...
Advancing diversity in a small firm: A business imperative
February 04, 2022 11:54 - 21 minutes - 29.8 MBPublic accounting Diversity, Equity, and Inclusion (DEI) initiatives are gaining momentum. Oftentimes, it can be the larger firms making the headlines, but small firms need not be overlooked. Listen to this episode of the Small Firm Philosophy podcast as Orume Hays, CPA, managing director of Hays CPA LLC, shares her first-hand experiences promoting diversity in a small firm. Resources mentioned in this episode: PCPS Diversity and Inclusion Toolkit Establish the next generation of dive...
Using client continuance strategies to control busy season
January 13, 2022 13:50 - 22 minutes - 30.7 MBOn this episode of the Small Firm Philosophy podcast, you’ll hear a clip from the AICPA’s November 18th Town Hall series featuring the AICPA’s Lisa Simpson, VP of Firm Services, Carl Peterson, VP of Small firms, Bill Pirolli, AICPA Chair and CPA.com’s CEO Erik Asgeirsson. This panel of experts discuss client acceptance and continuation decisions small firms can make before busy season. Resources mentioned in this episode: Surviving Tax Season Checklist Client continuance evaluation t...
Surviving tax season: Top strategies to prepare your small firm
January 05, 2022 21:06 - 26 minutes - 37.1 MBThe 2021 tax season is fast approaching. Is your firm ready? Listen to this episode of the Small Firm Philosophy podcast as Deb Rood, CPA and Risk Control Consulting Director at CNA shares best practices and resources to help your firm prepare for a successful tax season, this year and beyond. Resources mentioned in this episode: Surviving Tax Season Checklist Client continuance evaluation tool Client acceptance evaluation tool Client termination practitioner checklist and notif...
Surviving tax season: Top strategies to prepare your small firm
January 05, 2022 21:06The 2021 tax season is fast approaching. Is your firm ready? Listen to this episode of the Small Firm Philosophy podcast as Deb Rood, CPA and Risk Control Consulting Director at CNA shares best practices and resources to help your firm prepare for a successful tax season, this year and beyond. Resources mentioned in this episode: Surviving Tax Season Checklist Client continuance evaluation tool Client acceptance evaluation tool Client termination practitioner checklist and notif...
Right-size your client base, improve your small firm
December 16, 2021 16:11 - 34 minutes - 47.3 MBBurned out? Not enough hours in the day? In this episode of the Small Firm Philosophy podcast, Carrie Steffen, Co-Founder and President of the Whetstone Group, discusses how client acceptance and continuation policies can right-size your client base and positively impact your firm's people and profitability. PCPS resources include: Client acceptance evaluation tool Client continuance evaluation tool Client termination practitioner checklist and notification letter To learn more ab...
A sole proprietor’s journey to building a better practice
November 30, 2021 22:28 - 22 minutes - 31.9 MBCreating a successful practice that meets your clients’ needs while providing satisfying and meaningful work for you and your staff requires focus, discipline, and time. Listen to this episode of the Small Firm Philosophy podcast as Jack A. Heil, CPA shares lessons learned while journeying from the Big 8 to a sole proprietor that loves what he does. PCPS resources mentioned in this episode: Client continuance evaluation tool Client acceptance evaluation tool Client termination p...
Proposed changes to Peer Review standards and the small firm impact
November 15, 2021 21:44 - 13 minutes - 19.4 MBThe AICPA’s Peer Review Board (PRB) is responsible for developing and issuing Standards for Performing and Reporting on Peer Reviews (standards). Listen as PRB Board Member Dawn Brenner, CPA breaks down the exposure draft proposing changes to the standards and discusses the potential implications for small firms. Mentioned in this episode: Clarification of AICPA Standards for Performing and Reporting on Peer Reviews Template for comments and suggestions AICPA’s Peer Review homepage ...
Top tax issues impacting small firms
October 28, 2021 18:33 - 17 minutes - 24.6 MBThe Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey identified tax-related challenges affecting small firms. Listen as April Walker, CPA, CGMA Lead Manager, Tax Section and host of the Tax Odyssey podcast discusses these tax issues and what you can do to address these challenges. Resources mentioned in this episode: Resources to address CPA firm top issues Client Evaluation Tool. PCPS CPA Firm Top Issues Survey Tax Odyssey podcast AICPA tax hub IRS Hot...
Small firms face familiar challenges in unprecedented times
October 13, 2021 13:14 - 15 minutes - 21.8 MBSmall firms face familiar challenges in unprecedented times What’s keeping you up at night as a firm owner? Listen to this clip from the AICPA’s September 2nd Town Hall series as the AICPA’s Lisa Simpson, VP of Firm Services, Carl Peterson, VP of Small Firms, Barry Melancon, CEO, and CPA.com’s CEO Erik Asgeirsson discuss the results from the 2021 CPA Firm Top Issues Survey. 2021 Top Issues commentary: Familiar challenges in extraordinary times Resources to address CPA firm top issues ...
Technology: Oxygen for your small firm
September 29, 2021 14:44 - 28 minutes - 40.2 MB“Technology: it’s just oxygen. It’s the tools that are available to us and some of us breathe it better than others.” Listen as Byron Patrick, CPA and Manager with Botkeeper shares his take on technology in public accounting and what you can do as a small firm to stay in the know. Resources mentioned: 2021 Top Issues commentary: Familiar challenges in extraordinary times Resources to address CPA firm top issues Digitally Speaking with Roman H. Kepczyk, Director of Firm Technology S...
Engage your staff and increase accountability in your small firm
September 21, 2021 18:43 - 20 minutes - 28.1 MB“The average person spends about two hours per day in drama…and lack of accountability is one of the sources of drama”. Listen to this excerpt from the August 12th Town Hall Series as Reality-Based Leadership’s Alex Dorr joins Lisa Simpson, the AICPA’s VP of Firm Services and Eric Asgeirsson, CPA.com’s CEO, to discuss workplace drama and how to create an engaged and accountable firm culture. Resources mentioned: Increase accountability in your firm Streamlining the “you got a minute?”...
Developing the next generation of small firm leadership
August 26, 2021 13:36 - 27 minutes - 38 MBThe AICPA’s Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey has identified developing the next generation of firm leadership as a pressing concern for practitioners. Hear how Brent Forbush, CPA Managing Partner of Forbush and Associates, leads the way with staff development in his small firm and how you can start today in your practice. Resources mentioned: PCPS Firm Competency Model AICPA Leadership Academy Journal of Accountancy Top firm challenges in unprece...
Developing the next generation of small firm leadership
August 26, 2021 13:36The AICPA’s Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey has identified developing the next generation of firm leadership as a pressing concern for practitioners. Hear how Brent Forbush, CPA Managing Partner of Forbush and Associates, leads the way with staff development in his small firm and how you can start today in your practice. Resources mentioned: PCPS Firm Competency Model AICPA Leadership Academy Journal of Accountancy Top firm challenges in unprece...
Less complex entities in the limelight for small firms
August 13, 2021 16:54 - 26 minutes - 36.6 MBThe International Auditing and Assurance Standards Board (IAASB) has issued an exposure draft on auditing the financial statements of Less Complex Entities (LCEs). Listen to the latest episode of the Small Firm Philosophy podcast as Samantha Bowling, CPA, CGMA Partner with Garbelman Winslow CPAs provides a high-level overview of the exposure draft, the potential implications for small firms, and what you can do now to participate in the process. Resources mentioned: Exposure draft, prop...
Less complex entities in the limelight for small firms
August 13, 2021 16:53The IAASB has issued an exposure draft on auditing the financial statements of Less Complex Entities (LCEs). Listen to the latest episode of the Small Firm Philosophy podcast as Samantha Bowling, CPA, CGMA Partner with Garbelman Winslow CPAs provides a high-level overview of the exposure draft, the potential implications for small firms, and what you can do now to participate in the process. Resources mentioned: Exposure draft, proposed international standard on auditing of financial st...
Protect your small firm with a Practice Continuation Agreement
July 29, 2021 12:51 - 28 minutes - 39.5 MBAs highlighted in the Succession Planning Survey, small firms know they need a Practice Continuation Agreement (PCA) yet less than 10% have one in place. Listen as Mike Shost, CPA discusses key takeaways and best practices from his experience constructing and executing PCAs in his small firm. PCPS resources mentioned in this episode: Practice Continuation Agreements: A Practice Survival Kit PCPA Succession Planning Resource Center Work on your firm now, retire will later To learn ...
Quality management in the spotlight for small firms
July 22, 2021 12:18 - 31 minutes - 43.6 MBThe ASB’s proposed quality management standards are open for comments through Aug. 31. But small firms can get a head start on understanding the implications and ensuring ongoing A&A quality. In our latest episode of the Small Firm Philosophy podcast, Dustin Verity, CPA, CGMA Founder & Managing Partner Verity CPAs provides a high-level overview of the proposed standards, the potential implications for small firms, and what you can do to participate in the process. Resources mentioned: E...
Hitting the right notes in small firm client service
June 28, 2021 19:50 - 12 minutes - 17.6 MBHow did small firms keep up with the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) and other business relief programs to support their clients’ needs? Listen as Steven “The Singing CPA” Zelin, CPA shares how he and his staff educated themselves and assisted their clients during the pandemic and beyond. Resources mentioned in this episode: AICPA Town Hall Series SBA Paycheck Protection Program (PPP) resources for CPAs To learn more about Steven, please visit ...