The Radical CPA: New Rules for the Future-Ready Firm (East Hampton, NY: CPA Trendlines, 2014)

There are four characteristics of a “radical” CPA:
— 1. Their approach to technology.
— 2. Their use of social media.
— 3. Their understanding the relationship between pricing and value.
— 4. And their conviction that customer experience must drive a firm’s internal processes.

They Call Them The ‘Radical’ Practitioners

There’s an uprising of innovative CPAs in the accounting profession. This group created a new support community that is no longer driven by the establishment. The establishment can’t control the conversation.

In fact, they almost missed it. Now they endorse and support us. But it didn’t begin with them.

When Jody Padar first started doing this, she wasn’t aware of anyone doing what she was doing. Then she went to Twitter. That’s where she really met her peers. They were learning from each other from day one and that same community of support is still happening today.

A “radical” practitioner is a person that calls upon himself and others to redefine their firms and their lives by moving away from the traditional firm business model.

The term radical applies because what they are doing to their firms and indirectly to the profession is fundamental to its core. It’s abrupt, disruptive, unexpected, and far reaching. They are shaking up the status quo. They are changing because their customers and the world are changing around us all. Some might also perceive radical to be a negative term. It’s not. The movement is more likely following the happy expression, “that’s radical, dude.” Everyone can learn and join the movement.

The Radical CPA Community Is Here To Help You Be Radical, Too

The best part about these radical professionals is that we believe in abundance. We promote and celebrate a new way of doing business and encourage the rest of the profession to move forward and change as a whole.

Cash Flow Management

Best Practices for Small Business

Cash flow is the lifeblood of enterprise, and effective cash flow management is essential to the survival of businesses, big and small.  For small (and young) businesses, in particular,  the importance of cash flow is amplified by there finite resources and limited access to capital.  As such, small business founders are frequently forced to finance a […]

Link: CPA Growth Guides Blog

CPA Growth Guides website

CPA Growth Guides was founded in 2015 by Katie Tolin, an award-winning and nationally recognized accounting marketer with nearly 20 years of experience of professional service marketing with local, regional, super regional and national firms. Building upon her in-the-trenches experience, CPA Growth Guides helps firm leaders map out a Growth & Profitability Strategy (GPS), implement as needed and troubleshoot roadblocks, detours or delays encountered along the way.

CPA Growth Guides shows accounting firms how to achieve profitable growth. Whether you’re looking for a little guidance to point you in the right direction or for someone to walk the path with you, we focus on leading firms to growth and profitability.

Best Practices for Small Business Finance

Small business finance is a term used to describe the broad range of activities related to managing money of a business.  Business owners (sometimes hereinafter referred to as “Owners“) should have at least a basic understanding of these concepts, as they are vitally important to the success (or failure) of a small business.  After all, cash is the most valuable resource of a small […]

Tips for Explaining Strategy & Outcome Using Management’s Discussion & Analysis

Provide Context and Guidance to Financial Statements

Financial statements provide broad information about the financial position (balance sheet), results of operations (income statement), and cash flows (statement of cash flows) of a business.  While these basic financial reports give a snapshot of the business at a given point in time, they fail to communicate much of a message to financial statement users.  In fact, financials by themselves merely present figures, ratios, and charts […]

Financial Reporting Tip: Intangible Assets

As a sole proprietor CPA, the value of my practice is comprised of intangible ideas, relationships, and processes.  By its nature, the monetary value of this “asset class” is difficult to quantify or communicate in an objective manner.  This disconnect has never sat well with me, as I always feel shortchanged by financial statements that omit my most valuable […]

Reporting Value of Digital Assets

In Spite of Inadequate Financial Regulations

It is becoming increasingly apparent that current accounting standards and financial reporting regulations are inadequate for reflecting the value of intellectually-capitalized firms of the knowledge economy.  Critics of the current system are steadily on the rise, and their voice is constantly growing louder. These rules and regulations are based on a system that was created more than a century ago, and […]

QuickBooks Guide: Entering & Paying Bills

Accounts Payable Subsidiary Module (a.k.a., "Vendor Center")

As you purchase equipment, supplies, products, and services to run your business, you will receive bills that need to be paid.  Entering these bills in QuickBooks enables you to not only track information about your purchases, but also to pay these bills.  You can run reports that reflect your unpaid bills at any given point, […]