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CPAs need to be realistic about the changing marketplace. They need to understand the powerful impact that private equity has now and will have in the future and for those firms wishing to remain independent, they need to have formal succession plans.

I felt honored to represent the next generation of accountants at the NJCPA Convention & Expo for the second time at the Atlantic City Borgata Hotel in June,

I am thrilled to be writing to you after my first month here at the NJCPA — a month that started with our Convention & Expo in Atlantic City, where we celebrated our 125th anniversary, said “mahalo” to Ralph Albert Thomas, learned many ways to move the profession forward and held numerous side conversations. Our annual event even made it into the pages of NJBIZ.

Cannabis accounting is one of the most rewarding industries for those who love the challenge of navigating complex accounting and tax issues, implementing systems and controls and helping clients manage the financial health of their business while maximizing cash flow.

By using cloud software, accountants can benefit from automatic backups and secure data encryption. It is more flexible, scalable, collaborative and secure. Here are some best practices to consider.