CPA Trendlines Podcasts

Private equity in accounting could boost firm value, but at what personal cost?Accounting Influencerswith Rob BrownIn a deep dive into private equity’s involvement in accounting, Gary Shamis, CEO of Winding River Consulting, describes how investment firms see value in the sector's steady cash flows and resilient recession history. “It’s not that accounting is recession-proof,” Shamis states, “but its inherent stability during economic downturns is highly appealing to investors.” He adds that accounting firms with strong advisory practices, which offer scalable revenue opportunities, are of particular interest to private equity.Full Show Notes Here | More Accounting Influencers with Rob Brown here.The conversation takes a sobering turn as Shamis highlights the ongoing talent shortage within the profession. With fewer accountants entering the field and a growing demand for regulatory and advisory services, Shamis emphasizes that private equity deals won’t solve the critical issue of human capital shortage. “There’s just not enough talent in the pipeline,” he cautions. 

"Speed and being nimble are critical to being able to try new things and iterate quickly."Gear Up For GrowthWith Jean CaragherFor CPA TrendlinesAlan Whitman, CEO of ADW Advisory, formerly led Baker Tilly U.S. through a meteoric rise from $475 million to $1.5 billion in revenue. In this episode of Gear Up For Growth, he shares his wealth of experience and insights.Gear Up for Growth spotlights the best strategies for smart and effficient growth in today's competitive landscape. More Gear Up for Growth every Friday here. | More Capstone Conversations with Jean Caragher every Monday | More Jean Caragher here | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | More CPA Trendlines videos and podcasts hereOne of the central themes of the conversation is the potential for smaller CPA firms to outpace their larger counterparts in innovation and agility. Whitman highlights the advantages small firms have, such as their ability to pivot quickly and try new approaches without the bureaucratic hurdles larger organizations face. “Speed and being nimble are critical,” Whitman asserts. However, he notes that smaller firms must adopt a forward-thinking mindset, emphasizing, “Hopefully, smaller firms aren’t biased by always doing it the way you’ve done it in the past.”

Social media users jumped on a Chase ATM “free money” scheme—but the consequences were severe. Accounting ARCWith Liz Mason, Byron Patrick, and Donny Shimamoto.Center for Accounting TransformationIn the age of social media, financial misinformation can spread as rapidly as it’s created, and the Chase Bank ATM scam exemplifies this.MORE Accounting ARC: How Accounting Pros Own the Stage in Public Speaking | Greg Kyte: Being a CPA Is Like Being the Marie Kondo of Numbers | Rachel Bashore: A Lawyer's Case for Reinventing Accounting | Beyond the Basics in Ethics Eduction | Bailey Lenart: From Ledger Sheets to Transformational Change | Election Tax Plans: What CPAs Need to Know | Leadership for the Future: Stakeholders, Sustainability, and Strategic Vision | In-Person Conferences Still Essential | Non-Accountants in Accounting: A Game-Changer for the Profession | Rubik Yeriazarian: Smaller Firms Offer Big Opportunities for Rapid Skill Development in Forensic Accounting | Accounting ARC | AI Will Steal Your Job. And That’s a Good Thing | Accounting ARC | The Right Kind of Lazy: Innovative Approaches to Streamlining Workflows | Accounting ARCA supposed “glitch” that allowed users to deposit checks and withdraw amounts above the federally set limit for immediate withdrawals became a viral trend on TikTok, leading many to commit fraud unknowingly. Hosts Liz Mason, CPA; Byron Patrick, CPA.CITP, CGMA; and Donny Shimamoto, CPA.CITP, CGMA; analyze the scam’s implications and highlight the lack of financial literacy that may have facilitated its spread.

Your pricing isn’t aligned with the future, and neither is your business model. Plus: 18 more takeaways.The Disruptors  With Liz Farr  Jody Padar, The Radical CPA, has been pushing for big changes in accounting for years. Her latest book, Radical Pricing, is a blueprint for firm owners who want to fully transform their businesses to serve clients better, make employees happier, and be more profitable. Padar maintains that combining pricing with standardization and productization drives firm profitability.  FULL show notes here | MORE Disruptors here  |  MORE PODCASTS and VIDEOS: Rebecca Driscoll: Amplify Reach By Helping Other Firm Owners | Rory Henry: Create the Return on Relationships | Mike Maksymiw: Be the Leader You Wish You Had | Terrell Turner: Build a Solid Business Showing Up as Yourself | This handbook isn’t just about “putting pricing on something,” Padar says. “That’s putting lipstick on a pig.” Many firms that have tried value pricing say it doesn’t work, but Padar says that’s because their business model isn’t aligned with their pricing. “If you leave the old school model and just put pricing on top of it, you're going to struggle,” she says. Radical Pricing walks readers through a process of standardizing and productizing services, defining the ideal customer, developing pricing, and even explaining how to bring legacy customers on board.  

"Marketing CPA firms in a sea of sameness is challenging, but when you niche down, the possibilities are limitless."By Jean CaragherFor CPA TrendlinesIn the latest episode of Capstone Conversations, Stacy Dreher, the Director of Practice Growth at James Moore & Company and the Association for Accounting Marketing’s (AAM) 2024 Marketer of the Year, dives into the world of accounting marketing and offers applicable advice for CPA firms of all sizes.  Follow Jean Caragher on CPA Trendlines here. | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | Catch Jean Caragher's other show, Gear Up for Growth, on Fridays here. | And browse all the shows in the CPA Trendlines broadcast network hereDreher’s journey in the field is nothing short of inspiring. Having joined James Moore & Company in 2014 as a marketing manager, she rose to Director of Practice Growth by 2020, a time that tested marketing professionals like never before. Her leadership has helped shape a dynamic six-member team, navigating challenges and opportunities in an ever-evolving industry.

Having a growth mindset, seeking feedback, and auditing one's skills are essential to continuous learning and development.Accounting Influencerswith Rob BrownBailey Parnell, owner of Skills Camp, emphasizes the importance of soft skills in the workplace, particularly in high-pressure professions like accounting. She stresses that grit is just one element of resilience and that soft skills are often the skills that characterize our relationships with ourselves and others. Parnell also explains how the VUCA acronym—Volatility, Uncertainty, Complexity, and Ambiguity—applies to the current workplace environment and how soft skills are crucial in navigating it.Full Show Notes Here | More Accounting Influencers with Rob Brown hereParnell discusses the need for a growth mindset and being open to continuous learning and development. She stresses the importance of seeking feedback and auditing one's skills to identify areas that require action, especially with the increasing automation of some roles.

"Clients want value, and now, with these tools, you can give them more value."Gear Up for GrowthWith Jean CaragherFor CPA Trendlines“AI and ChatGPT-type tools can become your advisory services assistant,” says John Higgins, founder and CEO of Higgins Advisory. “It can help CPAs communicate better as an advisor and help identify the things CPAs should focus on for the type of client they're advising.” Gear Up for Growth spotlights the best strategies for smart and effficient growth in today's competitive landscape. More Gear Up for Growth every Friday here.| More Capstone Conversations with Jean Caragher every Monday | More Jean Caragher here | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | More CPA Trendlines videos and podcasts hereHiggins was a guest on Gear Up for Growth, hosted by Jean Caragher, president of Capstone Marketing, and powered by CPA Trendlines. Higgins shares specific examples of how ChatGPT can help CPAs become more efficient by providing quick research assistance, summarizing complex information for client presentations, and creating tools like Excel templates for common tasks. How does efficiency impact a firm’s pricing model? 

Quick Tax Tip  With Art Werner  CPE Today  As the end of 2024 draws closer, tax advisors and taxpayers should prepare for major changes that could significantly impact tax bills. Art Werner highlights an upcoming challenge: the scheduled expiration of the Tax Cuts and Jobs Act (TCJA), which was signed into law in 2017 and brought significant tax breaks and lower tax rates.Show notes here | More Art Werner here Like many tax laws, the TCJA was designed to "self-destruct," meaning its provisions will sunset at the close of 2025 unless Congress takes action.

From free speeches to paid engagements, thought leaders discuss breaking into the speaking circuit and what they’ve learned along the way.Accounting ARCWith Liz Mason, Byron Patrick, and Donny Shimamoto.Center for Accounting TransformationIn this episode of Accounting ARC, Donny Shimamoto, Liz Mason, and Byron Patrick dive into the world of paid speaking engagements. They share their experiences, the evolution from free to paid gigs, and how speaking has become a key part of their careers. Learn about the challenges, the feedback, and how each seasoned speaker maintains authenticity on stage. For anyone looking to break into speaking, this episode offers invaluable insights on honing your craft, connecting with audiences, and transitioning to the paid model.MORE Accounting ARC: Rachel Bashore: A Lawyer's Case for Reinventing Accounting | Beyond the Basics in Ethics Education | Bailey Lenart: From Ledger Sheets to Transformational Change | Election Tax Plans: What CPAs Need to Know | Leadership for the Future: Stakeholders, Sustainability, and Strategic Vision | In-Person Conferences Still Essential | Non-Accountants in Accounting: A Game-Changer for the Profession

Find your unique voice in the profession, and don’t be afraid to innovate. Accounting ARCWith Donny Shimamoto.Center for Accounting TransformationGreg Kyte defies every stereotype of the typical accountant. Kyte, a licensed CPA and in-house accountant for a company managing medical office buildings, is also a stand-up comedian. In a recent interview on Accounting ARC, hosted by Donny Shimamoto, CPA, CITP, CGMA, Kyte discussed his unconventional journey and how he uses humor to engage audiences in the accounting field. MORE Accounting ARC: Rachel Bashore: A Lawyer's Case for Reinventing Accounting | Beyond the Basics in Ethics Education | Bailey Lenart: From Ledger Sheets to Transformational Change | Election Tax Plans: What CPAs Need to Know | Leadership for the Future: Stakeholders, Sustainability, and Strategic Vision | In-Person Conferences Still Essential | Non-Accountants in Accounting: A Game-Changer for the ProfessionBefore entering accounting, Kyte spent over a decade teaching middle school math. Reflecting on the shift, Kyte recalls, “After 10 years, I realized I wasn’t enjoying teaching anymore, and I knew it was time for a change.” Driven by his longstanding interest in numbers and the promise of stability, Kyte made the leap to accounting. “I had always loved math and organization, so accounting was a natural fit,” he adds. Kyte’s current role as an in-house CPA for a commercial real estate company involves a blend of accounting and property management, including overseeing financial operations, contract reviews, and even some maintenance oversight. "I get to make up my title to fit whatever circumstance I'm in," he says with a laugh. "If I want to flex on somebody, I'm the CFO. If I'd like to dodge responsibility, I'm an accounts payable clerk." 

The future of accounting will be strategy, communication, analysis, and proactive support. The DisruptorsWith Liz FarrRebecca Driscoll went out on her own at a young age when a partner at the CPA firm where she was working encouraged her. “You're not cut out for this path that we have in a traditional accounting firm,” Driscoll recalls him telling her.  “You're different, so you should go be different.” She already had a book of business as a staff accountant, but on the traditional path at that firm, it would be another decade before she could be considered for partnership. At the end of 2023, faced with the challenges of parenting two kids under two and recognizing that leading a growing firm wasn’t her passion, she sold 80% of her firm and retained just a few clients. Driscoll reports that when she “canceled out the noise and busyness of all these clients and the employees, I would net out at the same take-home that I was already making.” Her husband has also joined her firm, taking over the bookkeeping side of the business.The name of her business, Conscious Accounting, came from a client who remarked that she was different from “regular accountants” because she was conscious and aware of her clients' issues and proactive about providing them with what they needed.14 MORE TAKEAWAYS: More Rebecca Driscoll Disruptor Notes MORE: Disruptors MORE CPA TRENDLINES PODCASTS and VIDEOS: Rory Henry: Create the Return on Relationships | Mike Mksymiw: Be the Leader You Wish You Had | Terrell Turner: Build a Solid Business Showing Up as Yourself | Kelly Mann: Be the Bull in the China Shop | Alicia Katz Pollock: Create a Human-Centric Business | Nancy McClelland: Be the One Your Clients Ask First | Alan Whitman: Stop Accepting the Status Quo | The Disruptors | Sean Duncan: Discover Your Own Genius | Ingrid Edstrom: True Wealth Is Not Financial | Chris Hervochon: Be the Leader You Want to Work For | Caleb Jenkins: Firm Growth Requires Owners to Shift Roles |Ira Rosenbloom: Don't Merge for the Money | Adam Lean: Get Out of the Accountant's Trap | Geraldine Carter: Charging More is Better for Your Clients SEE THEM ALL here.

Challenging the CPA mindset.Capstone Conversations  With Jean Caragher  Rea & Associates is transitioning from a traditional CPA-centric model to a broader advisory role, aiming to offer services such as IT consulting and wealth management. Becca Johns, director of practice growth, tells Jean Caragher in this episode of Capstone Conversations that the move demands major shifts in the firm’s internal mindset and culture, including redefining roles, retraining staff, and effectively communicating the new value proposition to clients.   Full show notes here | More Capstone Conversations here | Follow Jean Caragher on CPA Trendlines here. | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | Catch Jean Caragher every Friday with Gear Up for Growth here |    

Prune your existing portfolio to create a revenue pipeline.Accounting Influencerswith Rob BrownEd Warren, a veteran sales executive in the accounting industry, shares expert insights on growing accounting firms through client advisory services and leveraging technology to stay ahead of the competition in this episode of the Accounting Influencers Podcast with host Rob Brown.Full Show Notes Here | More Accounting Influencers with Rob Brown hereWarren shares his insights on how the accounting industry has been affected by the Covid-19 pandemic and what the future may hold for the industry. He believes that while the accounting firm space is in a good place given the circumstances, there is also a bit of complacency as they have weathered the storm reasonably well. However, staffing is a huge issue right now, and the industry will have to figure out how to adjust to players with values different from those of the legacy partner.

Be a client-centric human in a world of AI and technology. The DisruptorsWith Liz FarrSeveral years ago, Rory Henry asked himself, “Why don’t financial advisors and CPAs work together?” It boggled his mind because both work with the client’s finances but are not always in sync. “We’re advising them on their businesses, and then the wealth advisor takes over and manages the finances,” Henry says. “But really, one decision affects another.”  The ultra-wealthy have long used the family office model to bring a staff of CPAs, attorneys, and advisors to provide governance, legacy planning, and intergenerational wealth planning. At Arrowroot Family Office, Henry is leveraging technology to bring the benefits of the family office model to everyone. “So it's really integrating these solutions, using technology, using relationships, to really provide for the many needs of the business and the personal finances of your clients.” 14 MORE TAKEAWAYS: More Rory Henry Disruptor Notes MORE: Disruptors MORE CPA TRENDLINES PODCASTS and VIDEOS:  Mike Mksymiw: Be the Leader You Wish You Had | Terrell Turner: Build a Solid Business Showing Up as Yourself | Kelly Mann: Be the Bull in the China Shop | Alicia Katz Pollock: Create a Human-Centric Business | Nancy McClelland: Be the One Your Clients Ask First | Alan Whitman: Stop Accepting the Status Quo | The Disruptors | Sean Duncan: Discover Your Own Genius | Ingrid Edstrom: True Wealth Is Not Financial | Chris Hervochon: Be the Leader You Want to Work For | Caleb Jenkins: Firm Growth Requires Owners to Shift Roles |Ira Rosenbloom: Don't Merge for the Money | Adam Lean: Get Out of the Accountant's Trap | Geraldine Carter: Charging More is Better for Your Clients | Vimal Bava: When Working Smarter, Not Harder, Is the Only Option |SEE THEM ALL here.

With Jean Caragher  For CPA Trendlines  Lucas LaChance brings an auditor’s eye to marketing as the partner in charge of practice growth at Dallas-based Lane Gorman Trubitt, where he drives digital strategies that have fueled 143 percent revenue gains. More Capstone Conversations here | Follow Jean Caragher on CPA Trendlines here. | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | Catch Jean Caragher every Friday with Gear Up for Growth here |  But the bigger challenge, LaChance tells Jean Caragher in this episode of Capstone Conversations, is winning the competition for a shrinking pool of CPAs. “Human resources and marketing have to work hand in hand,” he says.

How nontraditional professionals leverage their skills to bring innovation and growth to the accounting profession. Accounting ARCWith Donny ShimamotoCenter for Accounting TransformationThe accounting profession is experiencing a wave of disruption, and nontraditional professionals are leading the charge. In a recent episode of Accounting ARC, host Donny Shimamoto, CPA.CITP, CGMA, sits down with Rachel Bashore, the director of operations at Herbein, to discuss her journey from attorney to accounting professional and the valuable perspective she brings to her firm. SHOW NOTES here | MORE Accounting ARC: Leadership for the Future: Stakeholders, Sustainability, and Strategic Vision | In-Person Conferences Still Essential | Non-Accountants in Accounting: A Game-Changer for the Profession | Rubik Yeriazarian: Smaller Firms Offer Big Opportunities for Rapid Skill Development in Forensic Accounting | Accounting ARC | AI Will Steal Your Job. And That’s a Good Thing | Accounting ARC | The Right Kind of Lazy: Innovative Approaches to Streamlining Workflows | Accounting ARC "Accounting is ripe for change, and that’s what excites me," Bashore says, reflecting on how her varied career—from IT consulting to trial law—helped prepare her for the challenges of modern accounting. Bashore has a unique path into the industry. After years working with IBM, she transitioned into law, specializing in litigation before moving into banking and fintech. Bashore’s background exemplifies adaptability. She explains how her role at IBM involved solving technical conflicts, which led her to study law and become a trial lawyer. Eventually, she shifted into operations, helping companies grow and manage risk. Her entry into accounting came through Herbein, where she saw opportunities to bring fresh perspectives to an industry on the verge of transformation. "Accounting is becoming more about advisory services and helping clients succeed beyond just tax returns and audits," she remarks. "I’ve done that with software, law, and banking. Now, I get to help a firm expand into new areas." 

Diversify your revenue streams with video and build a virtual accounting career.Accounting Influencerswith Rob BrownKate Josephine Johnson owns Heritage Business Services, LLC, a virtual bookkeeping firm serving small businesses across the United States. She is also the Chief Hustler at Bookkeeping Side Hustle, where she helps other accounting professionals build virtual accounting careers they love.Full Show Notes Here | More Accounting Influencers with Rob Brown hereJohnson shares her insights on how accounting professionals can diversify their revenue streams. She discusses various strategies, including eBooks, monthly membership for DIY clients, vendor referral links, YouTube, and sponsorships of newsletter and video content. She emphasizes the importance of using video in your business. Johnson shares statistics about the rise of video and explains that you need two skills to make videos: creating and communicating. She also provides different ways to use video, such as internal operations, clients and hot prospects, and external “Know/Like/Trust” marketing.

"Just having a title or a position doesn’t make you a leader. You have to earn the trust and respect of the team that you're leading."Gear Up for GrowthWith Jean CaragherFor CPA Trendlines In the latest episode of Gear Up for Growth, Carla McCall, managing partner of AAF CPAs and chair of the AICPA, shares valuable insights into leadership transitions within CPA firms. As the industry faces a generational shift—with 75% of current CPAs expected to retire in the next 15 years—McCall's experience highlights the importance of planning for the next wave of firm leadership. Gear Up for Growth spotlights the best strategies for smart and effficient growth in today's competitive landscape. More Gear Up for Growth every Friday here.| More Capstone Conversations with Jean Caragher every Monday | More Jean Caragher here | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | More CPA Trendlines videos and podcasts here During the conversation, McCall recounts her journey, beginning when she joined AAF in 1995, then becoming a partner at AAF in 2003, and eventually becoming a co-managing partner in 2011. She emphasizes the importance of having a firm-wide succession mindset, where every leader is responsible for mentoring and developing their potential successor. One key factor in AAF’s smooth transition was a structured Managing Partner in Training (MPIT) program designed to prepare future leaders for the complexities of running a CPA firm.McCall reflects on her challenges in building trust and influence as a new leader. She stresses that leadership goes beyond simply holding a title—it requires earning respect through authenticity, feedback, and focusing on helping others succeed. Her journey to sole managing partner in 2020 demonstrated the power of aligning leadership around vision and strategy while empowering operational leaders to make day-to-day decisions. McCall's advice to CPA firm leaders? Start succession planning early, foster a culture of candid feedback, and align your team around a shared vision. With the right mindset and preparation, transitioning leadership can lead to a stronger, more resilient firm.

"We have to...build something so special that people don't want an alternative." Gear Up for Growth. With Jean Caragher. For CPA Trendlines. For CPA firms to stand out, they must deliver an exceptional client experience—so unique that clients won’t want an alternative, Mitch Reno,  director of client experience at Rehmann, tells Jean Caragher in this episode of Gear Up for Growth. Gear Up for Growth spotlights the best strategies for smart and efficient growth in today's competitive landscape. | More Gear Up for Growth every Friday here.| More Capstone Conversations with Jean Caragher every Monday | More Jean Caragher here | Get her best-selling handbook, The 90-Day Marketing Plan for CPA Firms, here | More CPA Trendlines videos and podcasts here “What any managing partner listening or any marketing leader or growth leader within an organization needs to be hearing is let's look at what we do well,” says Reno. “Let's look at where there's an opportunity for us to do something better. And let's do that better and differently than the rest of our peers that we compete against.” 

“The difficulty isn’t identifying the ethical decision; it’s making the right choice with difficult implications."Accounting ARCWith Liz Mason, Byron Patrick, and Donny ShimamotoCenter for Accounting TransformationAccounting ethics training needs a major reboot, according to the latest episode of Accounting ARC. While traditional ethics training often feels like a check-the-box activity, hosts Liz Mason, CPA; Byron Patrick, CPA.CITP, CGMA; and Donny Shimamoto, CPA.CITP, CGMA, argue that the profession must move toward a more engaging and comprehensive approach. SHOW NOTES here | MORE Accounting ARC: Leadership for the Future: Stakeholders, Sustainability, and Strategic Vision | In-Person Conferences Still Essential | Non-Accountants in Accounting: A Game-Changer for the Profession | Rubik Yeriazarian: Smaller Firms Offer Big Opportunities for Rapid Skill Development in Forensic Accounting | Accounting ARC | AI Will Steal Your Job. And That’s a Good Thing | Accounting ARC | The Right Kind of Lazy: Innovative Approaches to Streamlining Workflows | Accounting ARC “Ethics education in accounting has become stale,” says Patrick, CEO and founder of VERIFYiQ and vice president of Client Success at The B3 Method Institute, reflecting on his 80+ hours of ethics training over his 22-year career. “The right decisions are usually obvious, but it’s the process of making them that’s difficult. Unfortunately, none of my training has equipped me to handle that challenge.” One of the key issues raised in the episode is the formulaic nature of traditional ethics education. Mason, founder and CEO of High Rock Accounting, highlights that many presentations simply focus on independence and professional standards without delving into the philosophical underpinnings of ethics. “We’re not addressing the ‘why’ behind ethical decisions,” Mason emphasizes. “We need to be talking about ethical frameworks, values, and the cultural contexts that shape them.” The hosts also discuss how ethics training often overlooks the complexities of real-world situations. “Most ethical dilemmas aren’t about identifying what’s right or wrong—they’re about the difficulty of making the right choice,” says Byron. “The implications of those choices are what make them hard.”