Mitigating the Negative Impacts of Job-Related Stress
May 26, 2023
Although stress in public accounting is unavoidable, especially during the busy season, excessive amounts can be dysfunctional for both individual CPAs and their firms. Prolonged exposure to high levels of stress can lead to psychological symptoms of depression and anxiety. Stress-related illnesses can decrease performance, generate health problems for individuals, increase group health premiums for organizations, increase absenteeism, and increase turnover. CPA firms can proactively address these stress-related costs by recognizing the drivers of the stress and tailoring responses accordingly.
Accountants Shy Away From Talking to Their Bosses About Mental Health
May 24, 2023
Accounting ranked eighth out of nine industries with 23% of employees willing to discuss their mental health, a survey revealed.
What can you do with a master’s degree in accounting?
April 28, 2023
Accountants speak the language of numbers, they’re especially skilled in evaluating financial statements, and experts in determining how to drive profits for a company. Aside from becoming a certified public accountant (CPA), people who hold a master’s degree in accounting can enter other unique roles, or increase their earnings by going into leadership positions—which can lead to the C-suite roles of chief financial officer (CFO) or even chief executive officer (CEO).
Smashing The Glass Ceiling: 7 Strategies For Women In Accounting
April 27, 2023
While women have been making strides in accounting, they still tend to be underrepresented in top leadership roles and face issues related to pay equity and work-life balance. Women leaders have been negatively impacted by a recent decline in public trust, too.
10 Career Paths To Consider
April 25, 2023
If you’re wondering what you can do with an accounting degree, rest assured it’s a valuable asset. In fact, renowned billionaire investor Warren Buffet once called accounting the language of business. An accounting degree prepares you to speak and understand that language, whether you pursue accountancy, auditing, sales management, advising or one of the many other accounting career paths. In this article, we overview what an accounting degree is, various accounting concentration areas available and ten jobs you can get with an accounting degree.
How To Become An Auditor: Everything You Need To Know
April 25, 2023
If you’re a detail-oriented person with a knack for numbers and a strong sense of ethics, you may enjoy a career in auditing. Auditors examine companies’ records, processes and systems to ensure accuracy and compliance, as well as to identify and manage risk. The auditor career path is straightforward, beginning with a bachelor’s degree and progressing through on-the-job training, further education and optional certifications. We’ll explore how to become an auditor in detail below, along with information about this diverse profession and its job outlook.
Why is MTCPA opposing the tax credit?
March 20, 2023
You may have seen a news story about one of the many tax credits that have been proposed during session this year. Maybe it was related to a topic you support and as you read you were surprised to see that the Montana Society of CPAs was the lone opponent to the bill. So why is the Society opposed to tax credit?
Most accounting professionals want more mental health help: study
February 08, 2023
Nearly three-quarters (71%) of accounting professionals globally want more from their employers when it comes to addressing their mental health needs as burnout remains a top concern, according to a report released Wednesday by the Association of Chartered Certified Accountants.
Enhancing Employee Resilience: How to Bounce Back from Job Stress and Burnout
February 01, 2023
It is widely understood that job stress can lower job satisfaction and performance while increasing feelings of stress and burnout. This is especially true in public accounting—a profession notorious for its high levels of job stress. For decades, employers have considered stress management an individual responsibility that employees should handle on personal time. Recent research suggests that there may be a more effective strategy. Active workplace interventions that help employees build resilience may help firms to effectively lower employees’ susceptibility to job stressors, retain valuable staff, and improve productivity. In fact, enhancing employee resilience levels can have a powerful protective effect against three common causes of job stress: role overload, role conflict, and role ambiguity.
Managers Have Major Impact On Mental Health: How To Lead For Wellbeing
January 29, 2023
New data suggests that for almost 70% of people, their manager has more impact on their mental health than their therapist or their doctor—and it’s equal to the impact of their partner.
3 tips to manage tax season
January 25, 2023
CPA firms are extremely busy during tax season, as you know, and many tax accountants become swamped during this stressful time of year. You want to give the best service possible for each person, and it’s important to be open and honest with your clients throughout tax season.
How to Affordably Support Employee Mental Health
January 25, 2023
Improve the health of your employees and your business with these methods.
A Storm is Brewing: The Accountant Shortage Is Already Affecting Nonprofits
January 18, 2023
It is no secret that nonprofit organizations have historically struggled to recruit and retain quality accountants, controllers, and CFOs. That struggle is about to get worse.
An Update on the Future of Accounting Education
January 04, 2023
The future of accounting education has been a topic of concern for the profession’s leaders for years in the light of demographic shifts, competition for talent, and declining enrollments. The authors, following up a previous article on the subject, take another look at trends in enrollment, hiring, and sitting for the CPA exam. The authors fear that without major changes—more flexibility in education and licensing, higher salaries, and greater work/life balance—these trends will continue in a negative direction and imperil the future of the profession.
The CPA Examination in Evolution
January 04, 2023
The recent CPA Evolution Project represents the accounting profession’s attempt to transform the CPA licensure model to fit the skills and competencies that new CPAs will require today and in the future. It marks the most significant change to the Uniform CPA Examination in many years. This article describes the changes to the structure and content of the exam, assesses the likely impact of the changes, and discusses how universities will need to adapt their curricula to new exam.
AICPA Unveils Blueprints for Redesigned CPA Exam
January 03, 2023
The American Institute of CPAs (AICPA) released the updated Uniform CPA Examination® Blueprints, the official document of content eligible for assessment on the Exam. The Blueprints are based on the knowledge and skills required of a newly licensed CPA to meet the demands of firms, employers and clients.
5 steps to align a firm sale with your aspirations
December 13, 2022
Know the value of your firm by having a formal valuation done by a third-party professional; otherwise, you could leave money on the table. Ask for advice from an attorney, advisor, or coach. Take their advice seriously. Put everything in writing; if it is not written down, it does not exist.
4 audit challenges firms could face in 2023
December 12, 2022
As auditors navigate the financial waters ahead, what challenges might exist and how can you best prepare for 2023? Using a data-driven approach through the Enhancing Audit Quality initiative, AICPA & CIMA have identified possible issues and ways to overcome them in four main topics: risk assessments, single audits, auditor's reports and technology-enabled auditing.
How Employee Mental Health Impacts the Finance, Marketing, Healthcare, and Technology Industries: Facts and Strategies
December 07, 2022
Working professionals and companies that employ them are in much need of information regarding mental health. Several industries, including finance, technology, healthcare, and sales and marketing, struggle to address this topic among employees. As a result, these industries experience high turnover rates and burnt-out professionals. Globally, depression and anxiety account for 12 billion missed work days each year, and companies lose $1 trillion in productivity annually.
Architects, Accountants Worry That Gianforte's 'Red Tape Reduction' Initiative Goes Too Far
December 05, 2022
The Montana Society of Certified Public Accountants, or CPAs, said it’s been generally supportive of the administration’s efforts to reduce the number of policies and “red tape.” Allen Lloyd, chief executive for the society, said often government adds more policies while forgetting to update and eliminate old, outmoded ones.