Accounting Insiders The Future of Accounting: Roger Knecht on Bookkeeping, Tax Planning & CFO Services
16 snips
Feb 10, 2025 Roger Knecht, President of Universal Accounting Center, shares his insights on the evolving landscape of accounting. He discusses how accountants can shift from traditional roles to strategic advisors, enhancing business profitability. Knecht highlights the vital distinction between tax preparation and advisory services, underscoring the benefits of specializing in niche markets. He also reflects on the importance of continuous education in adapting to technological advancements, ensuring accounting professionals remain ahead in their field.
AI Snips
Chapters
Transcript
Episode notes
Continuing Education for Accounting Professionals
- Accounting professionals should embrace continuing education to stay current with evolving industry practices.
- This includes learning new technologies and advisory skills to enhance client service and increase earning potential.
Miscommunication in Accounting Services
- Business owners often misunderstand the core accounting services offered by professionals, leading to unmet expectations.
- Bookkeepers, accountants, and CFOs must clearly define and communicate their service offerings to bridge this communication gap.
Advisory Opportunities for Bookkeepers
- Bookkeepers can provide valuable advisory services without being tax professionals by analyzing financial reports and offering insights.
- However, many hesitate to offer advisory services due to self-imposed limitations or lack of confidence.