What Stops Accountants from Stepping Up for Clients
Accounting Voices Podcast
Understanding Client Accounting and Advisory Services in Accounting
This chapter explores the difference between compliance and advisory services in accounting, emphasizing the need to modernize accounting practices with automated tech tools. It also highlights how advisory services act as business coaches, offering support in areas beyond tax compliance and providing CFO services.
Steven Hoffman delves into the dynamic changes taking place in the accounting industry driven by cloud-based technology and advisory services.
He emphasizes the significance of controllership, providing real-time financial information, and becoming a business coach to clients through advisory roles. The pandemic has accelerated the adoption of cloud-based solutions, transforming the way businesses operate and how accountants offer their services. Steven discusses the increasing importance of controllership, understanding economic realities, and translating them into actionable insights for clients. The debate over the necessity of credentials in accounting is also explored, with a focus on the value accountants bring through advisory expertise and modern tech tools. As the industry continues to evolve, accountants are moving towards value-based pricing and providing customized services that address the specific needs of businesses, ushering in a new era of financial consulting and forward-looking strategic planning.
Steven Hoffman is the entrepreneurial mind behind multiple successful ventures. From founding a non-profit at 15 to co-founding a software company in India, he has been driving innovation throughout his career.
As the COO of Woodard, Steven empowers accounting professionals nationwide to modernize and standardize their practices for business success. Additionally, he runs Mavergy, providing executive advisory services for growing businesses.
Passionate about leadership, Steven believes we need self-aware, empathetic, and courageous leaders now more than ever, unafraid of change. With expertise in various topics, including CAAS, he captivates audiences with his insights and inspiration.
Connect with Steven on LinkedIn: https://www.linkedin.com/in/thinkstevethink/ and witness his impactful journey of leadership and innovation.
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The Accounting Influencers Podcast drops every Monday to accounting professionals, finance specialists, software vendors, tech providers and influencers across 150 countries in the accountancy, CPA and bookkeeping space. To participate in our international virtual speed networking events for the accounting community, go to https://accountinginfluencers.com/events and book your place at the next gathering. Great to build your personal brand and make valuable industry connections.
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You can watch this episode and more on our YouTube Channel
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Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers
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