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There seems to be unrelenting discussion about the machines taking over. The accounting profession seems to always be mentioned as one of the professions where there will be significant impact. Yet in reality there is very little evidence that the machines are taking over. Possibly the biggest impact of machines on the profession continues to…

Are you aware of the New Payments Platform (NPP) (www.nppa.com.au) being developed by the RBA and the banks? It’s not too far away. The promise for accountants is that it has the potential to take data feeds to a whole new level. As I’m sure you’re painfully aware, the amount of data you can send…

As many readers would be aware, for many years, I have conducted reviews of practices. These reviews provide insights into improvements that can be made in how the firm is organised and managed. These insights are not rocket science but only come from years of work with a variety of firms and personal experience of…

I was recently asked to give my impression of business advisory trends and developments from my recent and past work and travel in the United States, Canada, New Zealand and United Kingdom. Some of the key developments I have observed over time are as follows; Major efficiencies via a paperless office is continuing to emerge.…

As I have conversations with and work with firms, a constant theme is frustration with accountability. People unwilling to be accountable and others being unwilling to hold people accountable. It’s not a simple thing to solve. It’s partly a cultural problem, it’s partly a problem of, in many instances, using the wrong performance measures and…

Wikipedia defines estate planning as the process of anticipating and arranging, during a person’s life, for the management and disposal of that person’s estate during the person’s life and at and after death, while minimising gift, estate, generation skipping transfer, and income tax. Estate planning includes planning for incapacity as well as a process of…

One of the most important qualities of a great leader of an accounting practice is the ability to get along with people, to show compassion and to make others feel good about themselves. This article is part one of a two-part series providing some tips in becoming a great leader in your practice, that others…

I was recently asked “what are the key things you see in successful accounting firms when it comes to client or customer service?” I am passionate about customer service and have summarised below my top 10 steps to better customer service; You are in business to service customer needs, and you can only do that…

As I’m sure you’re aware, big data and data analytics has the potential to transform the profession in analysing financial results and providing new insights to clients regarding the performance of their business. Projects like Chartered Accountants Australia+New Zealand Kairos are attempting to apply the data/data analytics theories to real world small businesses. There is…

If you had asked me that question when I first got into accounting many decades ago (don’t ask how many) I would have fallen off my seat with laughter. Who in their right mind would want to see their accountant, let alone speak highly of them. And yet, as I visit accounting firm after accounting…