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How accounting firms are innovating in 2024

ThomsonReuters

Jump to: 2024 top priorities Key Insights from the 2024 State of Tax Professionals Report Preparing your firm for the future In the ever-evolving landscape of tax and accounting, professionals are continually adapting to new challenges and opportunities.

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How predictive modeling can help accounting firms

ThomsonReuters

Highlights: Data analytics types : Useful data for predictive modeling includes historical financial data, operational data, customer data, market and economic data, and non-financial performance metrics. For many, the answer lies in accounting predictive modeling. What makes it an attractive model for marketing?

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Are accounting firms keeping remote work positions?

ThomsonReuters

Many of today’s accounting professionals have a new perspective on when and how they want to work. Are firms heeding the call? The onset of the COVID-19 pandemic forced countless businesses, including accounting firms, to go remote essentially overnight due to mandated shutdowns and stay-at-home orders.

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Why accounting firms should become business advisors

ThomsonReuters

As accounting firms look to differentiate themselves from the competition, one trend is leading the way: business advisory. From advising on mergers and acquisitions to specializing in accounting and advisory in your clients’ specific industry, there are many ways to take advantage of this unique opportunity.

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Accounting firm specialization: Unleashing the power of focused expertise

ThomsonReuters

Instead, firms are embracing specialization to tailor their expertise and solutions to match the unique requirements of their target clients. Accounting firm specialization is a competitive edge Specialization allows tax and accounting firms to stand out from the crowd by offering the unique and specialized services their clients require.

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Managing strained accounting firm capabilities

ThomsonReuters

Firm capability refers to the staff’s ability to successfully do the work that is expected of them, while firm resources are the components a firm needs to conduct business. The accounting profession is no stranger to long work hours and hefty workloads, especially during busy tax season. Let’s take a closer look.

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Year-end tax planning strategies: How to set your accounting firm up for success

ThomsonReuters

In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Many firms are shifting their hunt for talent beyond the traditional accounting background.