On behalf of the Accounting Influencers Podcast Network, this is the "Best Practice in Accounting" show, going live every Thursday. For our regular listeners, the original name Accounting Influencers has now moved from 'one show with 6 episodes a week' to 'five shows a week, 1 episode a day'. In this show, we focus on upskilling the accountants, bookkeepers, CPAs and commercially focused fintech vendors to better handle key challenges in their professional role like client service, closing deals, negotiating, pricing, hiring, reputation and differentiation. It's all about developing yourself and your practice with real life examples, stories and case studies of what really works.

Episode 13. In today's interview, "Best Practice for the Accounting Annual Review."

Key takeaways from this episode include:

☑ why many accounting firms don't really offer all the things their website says they do

☑ the difference between annual reviews and year end tax meetings for accountants

☑ what questions a conscientious accountant should be asking a client as part of an annual review

☑ the marketing and business development benefits for accountants of doing annual reviews

☑ what's wrong with the excuse from accountants "I don't have time to do annual reviews for clients"

☑ what is lacking from some accountants in so-called annual client reviews

☑ what some accountants miss in serving clients by not doing the simple and basic things very well

☑ two questions an accountant or CPA can ask their clients to turn a good annual review a great one

☑ good responses to annual review questions that can create more opportunities for accountants to serve their clients

Action - Do annual reviews for your clients. If you already do them, do them better by incorporating some of the approaches and questions in this episode.

In this show we cover topics like leadership, trust, performance, differentiation, employer brand, values, vision, strategy, talent, skills development, industry trends, growth, marketing, communication, succession, recruitment, retention, culture, MandA, business models, pricing, digitisation, winning clients, advisory, career development, gen z/millennials, ESG, DEI, CSR, CPE/CPD, professionalism and future proofing.

It's important that you stay ahead of the game by knowing the drivers of change and disruption in accounting, the behaviours/demands of businesses requiring pivots/services from accountants, the strategies of tech/software vendors in serving CPAs and accountants, the directives, thoughts and influence of regulatory bodies, professional associations and accounting institutes, and the themes, agendas and topics being talked about at accounting and fintech events all over the world.

Two caveats for listeners:

First, what we're giving you in this podcast are suggestions, hints, tips and strategies. Not necessarily recommendations, not legally binding, not mandated by regulatory bodies. just the thoughts, opinions and interpretations of a couple of guys with a collective 45 years of experience working with, speaking to and and training many accounting practices, vendors, networks, associations, alliances and event audiences.

Second, we're not getting too technical or technological with these best practice tips. We're not qualified accountants and there are plenty of sources for technical knowledge. We're also not geeky, nerdy or product focused with the bewildering array of apps, platforms and technological solutions. We're more soft skills, personal development, general business awareness, developing entrepreneurial thinking, boosting leadership and management capability.

Let's not forget what a complex, fast moving and rapidly changing world we live in. Best practice is hard to put your finger on. What worked last week, last year may not work now. Advisors and accounting professionals must constantly reinvent themselves as experts and trusted guides to individuals and...

Broadcast on:

04 Nov 2023

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