32 min listen
Overcoming Burnout to Create a Sustainable Accounting Practice
Overcoming Burnout to Create a Sustainable Accounting Practice
ratings:
Length:
59 minutes
Released:
Jan 4, 2024
Format:
Podcast episode
Description
Hitendra R. Patil joins Blake for an insightful conversation about the staffing shortage in the accounting profession, identifying overwork and lack of work-life balance as key issues causing high burnout rates. They explore potential solutions like dropping the billable hour model, measuring impact rather than hours worked, outsourcing certain tasks, and focusing on specific value-added services. Patil also describes how his company helps accounting firms efficiently leverage offshore talent.SponsorShareFile - https://earmarkcpe.promo/sharefileChapters
(00:47) - Hitendra Patil joins the show
(03:27) - Let's talk about CAS
(04:46) - What do you see firms call their communication with clients?
(12:22) - National Association of Tax Professionals 2023 study
(13:30) - CAS is vague and firms need to figure out what they want to offer from it
(14:20) - What is causing the accounting shortage?
(20:53) - How big of problems are the overwork and pay?
(25:19) - More and more firms are offshoring work
(29:52) - How long is offshoring a viable option?
(33:10) - What are the accounting student numbers in India?
(35:21) - Korn Ferry study on future shortages of working professionals
(40:31) - What is the real underlying cause of the talent shortage
(42:10) - Hourly timesheets and billing
(44:19) - How can accountants measure impact on clients?
(51:31) - Datamatics Business Solutions Inc.
(58:25) - Thanks for listening and remember to earn your free CPE on Earmark
Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guest, Hitendra R. PatilLinkedIn: https://www.linkedin.com/in/hitendrapatil/Twitter: https://twitter.com/HitendraRPatilFacebook: https://www.facebook.com/HitendraRPatil/Instagram: https://www.instagram.com/accountaneur/Learn more about Datamatics Business Solutions, Inc. (DBSI) Website: https://datamaticscpa.com/accounting-bookkeeping-outsourcing-for-usa-cpas/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/
(00:47) - Hitendra Patil joins the show
(03:27) - Let's talk about CAS
(04:46) - What do you see firms call their communication with clients?
(12:22) - National Association of Tax Professionals 2023 study
(13:30) - CAS is vague and firms need to figure out what they want to offer from it
(14:20) - What is causing the accounting shortage?
(20:53) - How big of problems are the overwork and pay?
(25:19) - More and more firms are offshoring work
(29:52) - How long is offshoring a viable option?
(33:10) - What are the accounting student numbers in India?
(35:21) - Korn Ferry study on future shortages of working professionals
(40:31) - What is the real underlying cause of the talent shortage
(42:10) - Hourly timesheets and billing
(44:19) - How can accountants measure impact on clients?
(51:31) - Datamatics Business Solutions Inc.
(58:25) - Thanks for listening and remember to earn your free CPE on Earmark
Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guest, Hitendra R. PatilLinkedIn: https://www.linkedin.com/in/hitendrapatil/Twitter: https://twitter.com/HitendraRPatilFacebook: https://www.facebook.com/HitendraRPatil/Instagram: https://www.instagram.com/accountaneur/Learn more about Datamatics Business Solutions, Inc. (DBSI) Website: https://datamaticscpa.com/accounting-bookkeeping-outsourcing-for-usa-cpas/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/
Released:
Jan 4, 2024
Format:
Podcast episode
Titles in the series (71)
CPA versus CMA with IMA President Jeff Thomson: Blake sits down with Jeff Thomson at the Institute of Management Accountants Texas Council Conference to talk about the Certified Management Accountant (CMA) designation and how it compares to the CPA license. We learn that public accounting is no longer by Earmark Podcast | Earn Free Accounting CPE