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AI, applied: Lessons from 2020
The year of coronavirus will go down in history not just as a time of plague, but also of crisis-driven tech adoption. Mass migration online drove the adoption of cloud-enabled technologies, and AI was one of them. As businesses embrace AI,...
AI, applied: What to expect from AI 2.0
Artificial intelligence is in its glory days now, with its promised applications being realized in a range of service areas for accountants. But AI is for more than just automating processes and creating efficiencies — now is the time for firms...
IMA CEO Thomson foresees 'megatrends' for accountants this year
Institute of Management Accountants president and CEO Jeff Thomson is predicting six megatrends in the finance and accounting profession this year.
9 ideas on how small firms can improve diversity
In response to the renewed focus on racial equity, many organizations — including accounting firms — have pledged to make change. But there's much work to be done. According to the AICPA's 2019 Trends report, 29% of professional staff in...
8 Business Compliance Considerations for 2021
To avoid penalties and other headaches, one of your business clients' many responsibilities is to remain in good standing with the state they operate in. But why is this so important, and what do they need to think about for 2021? Nellie Akalp...
SBA and Treasury reopen Paycheck Protection Program
The U.S. Small Business Administration and the Treasury Department relaunched the Paycheck Protection Program on Monday to new borrowers, prioritizing loans from community lenders. The program, funded with $284.5 billion thanks to the latest...
5 tactics to plan your way through the pandemic in 2021
Regulators in several countries approved vaccines, and immunisation against the coronavirus started in December. The vaccines have shown to be highly effective in clinical trials, but the pandemic is not expected to subside for several...
PPP application forms released
The US Small Business Administration and Treasury released borrower loan application forms Friday night for the rebooted Paycheck Protection Program (PPP), which will launch Monday, initially for select lenders and borrowers before a broader...
Labor Department finalizes rule on employee vs. independent contractor status
The U.S. Department of Labor issued a final rule Wednesday to clarify the standard for determining whether a worker should be considered an employee or an independent contractor. The rule is one of many contentious regulations that the Trump...
RSM US featured in Accounting Today Practice Profile "Showing up in a crisis"
When the coronavirus pandemic started shutting down offices in mid-March, Chicago-based Top Five firm RSM US was quick to transition to remote working — while also planning other ways to more broadly support its people through the...

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    Connecticut CPA magazine feature
Women in CPA Firm Leadership

By Joseph A. Tarasco, Chief Executive Officer and Nancy A. Damato, President, Accountants Advisory Group, LLC 

Today, women represent more than 50 percent of accounting graduates and female leaders in public accounting are much more prevalent than 20 years ago, but women still only represent approximately 20 percent of partners in the nation.

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Pre-Merger Employee Integration and Retention

By Paul N. Iannone, JD, CPA, MST, Founder, Tax Career Advisor LLC and author, “Extraordinary Tax Career.”

A merger of firms can be fraught with employee disruption and anxiety. The business of employee retention and integration should really begin during the merger talks. Dealing with this important issue only during the post-merger period ignores the reality that firm culture comprises both “leadership culture” and “employee culture.” Anticipating the employee’s vision and perceived alignment of values and mission of the combined firms is a critical ingredient that should play a significant role in merger negotiations.  

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    Connecticut CPA magazine feature
Is Your Organization NextGen-friendly?
What you need to know to engage tomorrow’s leaders today

By Brianna Johnson

It’s an employees’ market and young CPAs have options. Whether they wish to work in public accounting, industry, government, educational institutions, or start their own firms, opportunities abound. Because young CPAs are in high demand, firm and organization leaders must identify areas where their strategy, processes, and culture are not “NextGen-friendly,” and take steps to make their organizations more attractive to young CPAs.

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Defending Against a Succession Planning Crisis

By Joe Tarasco, Accountants Advisory Group, LLC

A succession crisis is occurring at public accounting firms across the country, driven by the vast numbers of Baby Boomer partners who will be retiring in droves over the next 10 years. Many CPA firms wish to remain independent, but few of them have completed and implemented formal plans to ensure their legacy.

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    How the Baby Boomer Retirement Wave is Creating Opportunities and Challenges for Everyone in the Accounting World

By Carl R. Johnson, CPA, President, CRJ Consulting

This aging of the baby boomers is creating a unique period of time for CPA firms in the United States, New England, and right here in Connecticut. For the next decade or so, there will be excellent opportunities for future employees, present employees, and firm owners – but those opportunities also come with major challenges for those same three groups.

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