Strange question for accountants

[bacc30]

Hi,

I'm a business consultant doing some research on the accounting profession in order to better understand the issues they face.

1) What are the top 3 biggest headaches for accounting professionals, particularly those who own their own businesses?
2) Where do accountants hang out professionally, either online or offline?

 

[The Finance Writer]

As an adviser to accountants, I am frequently told about challenges to building a tax practice. Topping the problem list is retaining clients, which is somewhat more difficult than attracting them. The tax specialty is very competitive. Secondly, an effort is underway in some circles to identify a better pricing model than hourly fees. Client relations demand substantial time responding to phone calls and email. Next is finding competent employees. Most accountants hire only experienced tax professionals. However, they will hire knowledgeable individuals -- such as those who have passed the Enrolled Agent exam or CPA exam candidates -- who only require training with software and dealing with clients.

Online hangouts for accountants are quite popular and easily to locate.

 

[AllanMadan]

1. Needy clients (ie. small set of clients who takes up most of your time)
2. Balancing trade-off between hiring knowledgeable employee vs cost
3. Employees taking significant time off for studies