College. What else needs to be said? Earning your CPA designation is something enjoyed by a select few. It serves as a special reminder of the hard work and studying it took to reach your goals.
Another title that most public accountants have the knowledge and expertise to acquire is ‘CPE’. Of course, this stands for certified profit expert. Surprisingly, many CPAs and accounting firms fail to possess a CPE "qualification". This may be the case in large part because there are a few additional steps and procedures one must adhere to in becoming a profit expert.
By providing a more consultative role, you can focus on helping your clients grow their businesses. Previously having already acquired this knowledge, your expertise allows you to measure and identify areas of strength and weakness. When you monitor and track the performance of KPIs and other benchmarks, the opportunities and threats facing your client are recognized to proactively offer sound fiscal advice.
This will only require additional effort on your end since they already trust you. Do not be alarmed for this is no comparison to the profits that are to be earned from providing a robust business advisory service. For firms utilizing this approach, it is recommended that they evaluate their client list and identify those with unrealized opportunities that you can help them exploit. Beginning with clients who will be able to see the impact immediately, you can get your cliched “feet wet” in situations where the value is more apparent to the client. Use these as a launching point to figure out what works best for your practice and fine tune any complications to better advise clients in future settings.
Read the full article by Nastassja Tejada here