november2021 - 12

FROM THE TRENCHES
CLIENT EXPERIENCE FOR TODAY
Continuous Education
to Meet Technology Changes
TECHNOLOGY CHANGES CONSTANTLY. We must make decisions about what works for
our clients, our firms, and ourselves. Additionally, we must make the effort and take the
time to update our skills on products we use regularly and on solutions that we should
consider for our practices. This education is beyond our mandatory continuing professional
education (CPE) training.
While forty hours of CPE is the
typical annual requirement, that is
the hardly the education required
to maintain competency in the
profession. But you already know
that even if you may have extensive
knowledge in a specialty area, it
is challenging to keep up with all
aspects of accounting.
Further, you may prefer tax,
audit, client accounting services
(CAS), Advisory, wealth management,
or XX (plug in your favorite area of
accounting), and you spend all your
efforts in that single area. Add to that
accounting knowledge management
skills, people skills, or technology
skills, and you quickly realize you
could focus on just one of these areas
and not have enough time in the day.
CONTINUOUS LEARNING
Depth of knowledge is undoubtedly a
benefit for compliance and consulting.
The breadth of knowledge is a
benefit for Advisory work. Lack of
knowledge for using technology is a
time-waster. Expansive knowledge
of technology can help your firm
and your clients. While many
accountants have an excellent working
knowledge of compliance, this
excellence can be offset by clumsy
or ineffective delivery of results. So
how do you address these issues?
By developing a continuous learning
attitude.
Consider the curriculum that you
and each team member should follow
to expand their skills, and document
that in a learning matrix or ladder.
While using productivity software
properly sounds mundane, you'd
be appalled at how much effort is
wasted running software like email,
word processing, spreadsheets, or
presentation software.
Consider the skills you require in
a variety of areas and build a longterm
learning plan. The Conscious
Competence Learning Matrix looks
like this:
How do you stay up-to-date?
Reading trade publications, attending
events, and listening to podcasts are
a great start. Our weekly podcast, The
Technology Lab, provides background
on a variety of products. You can
search for podcasts related to your
favorite topics. Still, CPEToday
regularly has fresh content, as do
a variety of pundits on tax, audit,
CAS, QuickBooks, Xero, Zoho, and
Advisory services. We have provided
CPE via our K2 courses for over 35
years in almost 20 categories. You
can produce your own CPE or license
in-house courses through your state
CPA society or many CPE providers.
Most of you have chosen a focus or
specialty and are well on your journey
to becoming an expert. In his popular
book from 2008, Outliers, Malcolm
Gladwell stated that 10 years or 10,000
12 NOVEMBER 2021 ■ www.CPAPracticeAdvisor.com
hours of study is needed to become
an expert. But if your profession
changes notably, how do you protect
your future? For example, leaders in
the profession have been concerned
that compliance work will become
less profitable and more competitive.
If your skills are in compliance,
and you are comfortable that things
won't change during your career, then
you are all set! However, if you see
a different future, you can begin
charting a new path now and building
your skillset. For example, many
professionals have chosen
Client Accounting Services
(CAS) while others have
chosen Advisory or both.
WE ARE ALL
ADVISERS, AREN'T
WE?
There remains a lot of confusion
in the accounting
profession about Advisory.
Few firms are clear about
what Advisory is and how
they can deliver advisory
services
successfully
and scale the delivery to
ensure great client service
and a great return on
investment for the firm.
But this is not the same
as not " doing advisory. "
You have probably read
online about some accounRANDY
JOHNSTON
EVP & Partner
K2 Enterprises &
CEO of Network Management Group, Inc.
randy.johnston@cpapracticeadvisor.com
@RPJohnston
tants claiming that they are not typical
accountants. They're smashing
it, changing the world, and " doing
advisory. " Really folks? Well, I've got
news for you - every accountant I
have ever met is advising clients. But
often, they don't recognize that they
are doing so, and therefore they don't
always charge for it. When a client
calls or emails you with a question,
and you answer that question, you
are advising them. And you probably
do this a lot, don't you?
What would you do if I were to
knock on your door and tell you that I
was setting up in business and would
like you to be my accountant? First,
you'd probably ask me lots of ques

http://www.CPAPracticeAdvisor.com

november2021

Table of Contents for the Digital Edition of november2021