Another buzzing round is here ⚡. We welcome you back to the newest and most-clicked articles from this week’s Accounting Apps newsletter📧 for w/c 12.6.22:

Why This Construction Company Will Never Go Back to Paper-based Approvals | (ApprovalMax)

Gordon Tivendale is a Business Manager at BLR Provincial Construction, an Australian-based building and construction company that specialises in commercial construction, developing new homes, heritage restorations, and renovations. The company has been using ApprovalMax for almost a year and a half after discovering it in the Xero App Marketplace. Gordon read some of the 5-star reviews and decided to try it out for their bill and invoice approvals. In this article, he explains how ApprovalMax changed the way they handle bills and expenses and why they’ll never go back to paper-based approvals.

Hybrid Work Best Practices | (AICPA) 

The COVID pandemic highlighted the fact that remote work can make individuals more productive and firms more profitable when properly implemented. This has led to many firms allowing some form of hybrid work program promoting personnel to work remotely for those projects that are conducive to being effectively performed remotely while still working in conjunction with personnel that are physically in the office. Further, remote work has proven to be a differentiator not only in work/life balance and employee retention but also in casting a broader net when looking to hire personnel. While hybrid work environments are becoming the standard within CPA firms for the foreseeable future, many firms still have not formalised their hybrid work programs. Below are key considerations that firms should discuss when formalising their hybrid work program.

How to Value a CPA Firm: A Guide for Buyers and Sellers | (Jetpack Workflow) 

Whether you are looking to retire from the profession and want to sell off your practice, have a merger in the works, or need to acquire a CPA firm, there is always one top question— what is the firm’s value? Unfortunately, there is no one-size-fits-all answer to this question. How much a CPA firm is worth will depend on several factors. It will also depend on your point of view as a buyer or seller? This article will help you understand how to value a CPA firm, the factors that could affect the valuation price, and how to make an offer more attractive.  

Staffing Trends During the Great Resignation | (IFAC) 

The terms “Great Resignation” and “Great Reshuffle” have come to define the period of a nearly unprecedented churn in the U.S. labour market since 2021. A recent article in CPA Practice Advisor notes that the accounting industry is seeing 2–3 million people retire early and this trend, coupled with a very competitive job market, has some firms struggling to find and retain staff. The IFAC Small and Medium Practices Advisory Group recently met with Steven Fields, a Senior Vice President at Robert Half International—a firm specialising in the placement of professional accountants—to discuss some of these trends and what firms can do to attract and retain talent. They also provided their experiences from different parts of the world.

Navigating Financial Modelling With Clients | (Fathom) 

Fathom recently took part in the Australian CFO Summit by DiviPay, a free virtual conference for finance leaders. Fathom was a proud supporter of the event so they hosted a session with David Maher, director of Right Brain Insights, where they shared his knowledge and tips for approaching financial modelling with clients. David provides outsourced CFO services to industrial, manufacturing, and trade service businesses. He is passionate about financial control and performance and we found his discussion insightful and poignant for the business environment of 2022.

Which one of these highlights have you enjoyed the most during this week?

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