Thursday, August 19th, 2021

You Are Already A Consultant

“Every great move forward in your life begins with a leap of faith, a step into the unknown.” – Brian Tracy

All the talk these days is about CPAs becoming consultants to their clients and not just compliance service providers.

There are even various training programs to help CPAs make the large leap (I say that sarcastically!).

It is not a “leap” for you. You are already performing consulting services and have done it for years. Partners and managers in public accounting firms have been advising, coaching, and consulting with clients as part of their normal activities.

I see the problem being how you code your time. You record time to Tax when it is actually consulting. Why do CPAs do this when most firms already have service codes specifically for Consulting.

There are two reasons. One, they just code it to tax out of habit, and without thinking that they are really not doing tax work, they are performing “Advisory Services.” Some firms have codes titled, MAS – Management Accounting Services that many partners rarely use. Two, they do not use the MAS codes because they have a higher billing rate associated with those codes and they do not want to charge their clients more for that type of work.

The challenge facing CPA firm leaders is teaching younger accountants and involving them in consulting/advisory services earlier in their careers.

  • "It always feels too soon to leap. But you have to. Because that's the moment between you and remarkable."
  • Seth Godin

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