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An accountant's checklist for client meetings

Posted by Sageworks
An accountant's checklist for client meetings

Building relationships with your accounting clients requires trust, rapport and an atmosphere for open dialogue. Many accounting firms use a checklist to prepare for client meetings and to facilitate information exchange. Here are some questions that many accountants who are clients of Sageworks have found helpful when interacting with their business clients.

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4 ways industry data can improve your commercial credit analysis

Posted by Sageworks
4 ways industry data can improve your commercial credit analysis

Commercial lending can be a large source of credit risk for any bank or credit union, especially for institutions in which commercial analysts are unfamiliar with the companies being analyzed or their industries. In that scenario, it’s like trying to read a book but not knowing the language. Or, at the very least, it’s like being unfamiliar with the dialect or the regional vocabulary. A tool that commercial lenders can use to reduce credit risk and make better lending decisions is quality industry data, including up-to-date financial benchmarks for the relevant industry. With this added context, analysts are better prepared to interpret financial performance and know, for example, the average and above-average growth and profitability rates for the loan applicant’s NAICS or industry code. ...

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How my accounting firm created an industry niche

Posted by Mary Ellen Biery
How my accounting firm created an industry niche

Michael Bohinc CPA is a baseball nut and the son of a plumber, so he combined both parts of his background as he developed an industry niche focused on plumbing and HVAC (heating, ventilation and air conditioning) contractors. Why and how did he do this? Here's his advice for other CPAs and accountants who are considering creating an industry niche. ...

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How to win your next new accounting client

Posted by Mary Ellen Biery
How to win your next new accounting client

Your firm may be successful today, but everyone knows that success can be fleeting unless you’re continuously thinking ahead to identify and win the next client. The key to developing a strategy for winning new clients is to answer these key questions: Why? Who? What? How? Here, Peter Brown, senior consultant with Sageworks, elaborates on the questions that can help you develop focused and effective plans for gaining new business. ...

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Did you raise your audit fees last year?

Posted by Mary Ellen Biery
Did you raise your audit fees last year?

Sageworks has a real-time application that benchmarks accounting industry pricing, and it shows that audit-billing rates for sole proprietors, partners, managers and senior accountants range from $91 an hour to $224 an hour. Meanwhile, a recent survey of financial executives showed that private companies on average experienced minor increases in audit fees last year. ...

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