Best Cost Reduction Practices to Maximize Profit for CPA & Accounting Firms

Profitability and raising the profit graph are not only important aspects of any firm, but they are also required for survival and growth. Even though the formula is fairly simple: higher revenue and decreased expenses indicate your profit, many CPA and accounting firms make a mistake in computing profit.

However, some businesses believe that expanding office headcount and customers for outsourced accounting services reflects profit. Remember that if your client and employee numbers both increase, which may imply that your revenue and expenses both increase, the proportion of increased profit may be minimal.