Imperial

Cybersecurity is an important part of every industry, including accounting. You have to have measures in place to keep data secure and be able to recover from an attack. This includes any vendors or others who have access to your information. #security #breach #deloitte

Private equity backed Dains is going up for sale for $250M. Three buyout businesses are already interested. According to The Times, it's just one of many: "The process is the latest in a string of deals in the professional services sector. Last week, the regional accountant Cooper Parry struck a deal to sell a majority stake to the New York buyout firm Lee Equity. Cooper Parry, another mid-market firm, based in Derby, was previously owned by the Dutch buyout firm Waterland. Last month Evelyn Partners, one of Britain’s largest wealth managers, sold off its professional services arm to Apax Partners last month for £700 million. Meanwhile Grant Thornton, Britain’s sixth biggest accountant, sold a majority stake to the UK private equity house Cinven in November." #privateequity #buyout #cpa

Most of these are applicable to any business, especially #10: conduct regular financial reviews. If you aren't creating KPIs based on your finances, you're missing out on vital information in your business. And if your books aren't clean all year round, that data isn't going to be accurate. Make sure your books are up to date, and you are utilizing your financial data to make decisions for your business - it's what will keep you growing! #business #finance #data

Instead of making the talent come to them, HCVT is expanding to get closer to the talent. The largest CPA firm in LA is expanding to Salt Lake City to expand their workforce. They're using a good old fashioned growth strategy instead of acquisitions to expand. It's great to see some expansions rather than takeovers. #business #growth #accountingandaccountants

Year-end is just around the corner - make sure you're prepared! Reach out to us with any questions you might have, there's still time before 2025! #tax #audit #cpa

Effective budgeting can increase profits in your business. When you know where money is going, it's easier to make sure you're making money. The keys here are using data and staying agile with your decisions. You don't want to paint yourself into a financial corner, especially at the end of the year. Get more than just the finance department or CEO involved, you'd be surprised what kind of value other departments and outside firms can provide. #value #cfo #finance

Companies re-issuing financial statements is at an all-time high. Increased complexity, remote work, and all sorts of other areas are getting blame. It could even be tougher sanctions. Just another reason you have to keep your books clean throughout the year, rather than issuing and re-issuing statements later. #finance #accountingandaccountants #cpa

Full transparency in pay is gaining a lot of traction. Interested to hear from companies who are doing this - what have your results been? Has it helped to attract and retain people, or is done as a policy requirement? #pay #business #talent

Simple but great recommendations for planning : identify the root problem, think long-term, and get stakeholder buy-in. When you're looking at solutions, make sure they solve a problem that needs to be solved. AI may be all the rage, but be sure there's an ROI. Think about the long-term impact of investments and how you can make strides now that will pay off in the future. Once you have those covered, make sure there's buy-in from stakeholders. It's common to see differing expectations, so make sure to overcommunicate what's happening. #accountingandaccountants #strategy #planning

How do you use AI effectively in your accounting firm? Very carefully. It can help to review, research, and brainstorm for tasks like content creation and email generation. If the software you use allows for AI, that's one of the best ways to get some exposure to it. Just be careful with uploading customer data or identifiable information. #ai #accountingandaccountants #productivity