Accounting
Art of Accounting: An idea from a Chinese takeout menu
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I must have seen more than a thousand Chinese takeout menus. I always look at them, although I pretty much always order the same thing. Last week I noticed something that I have never seen before — a suggestion section for what to order. There were five suggestions. They all looked good and were slightly upscale. That got me thinking about whether CPAs should offer suggested services, and if not, why don’t they?
I did not order any of the suggestions on the menu as my mind was made up about what I was going to order, but the suggestions planted a seed in my mind. I suspect I will order one of them in the near future.
I liked the idea and, while I’ve never directly presented suggestions as such to a client, I have offered suggestions in the form of a listing of services that were not included in my fixed-price engagements. One example of such wording is: “Not included are services in connection with reviewing your accounting system and its controls that would offer a higher degree of protection against employee theft or embezzlement. This would be a special single purpose engagement at prices and timing to be decided upon along with a catalogue of benefits and value to be conferred upon you.”
This rarely resulted in added engagements. Perhaps a better way of presenting this, using the Chinese menu idea, would have been:
Suggestions of additional high-value single purpose services (prices fixed and guaranteed for one year):
- Analysis and review of your accounting system and its controls that would offer a higher degree of protection against employee errors, theft or embezzlement: $7,200
This suggestion also provides a fixed price and a deadline for the client to engage you for this service. i.e., one year. At the point of offering this service, you should have a pretty good idea of what would be involved, how it would be staffed and the time it would take. Even if you are too low, you will still receive the added revenue, help your client with a service they need and can benefit from, open the door to further services at a later date and establish a stronger relationship with that client.
Further, if you did not offer a fixed fee, the client might have trepidation at the cost and would be hesitant to ask what it might be or for an estimate or range. In my experience, any estimate on a time-based project becomes a “fixed” fee, plus or minus 10% or 15%, so why not just quote a fixed fee? If you feel you are not able to reasonably estimate a fee for this service, then perhaps you are in the wrong business.
Here are some other suggestions of added engagements:
- Special services in connection with a surprise bank reconciliation and a review of the client-prepared bank reconciliations during the previous year, including a reconciliation of any differences in the cash balance the client is working off of compared to the most recent month-end reconciled bank balance. The internal bank reconciliation procedures, and their thoroughness and timeliness, will be reviewed and changes will be suggested if we believe that is necessary. Price: $8,000.
- An informal valuation of your business will be performed to determine an estimated value of your business, identification of value drivers, how a buyer would value your business, how our valuation could be used as a benchmark to measure growth in the form of value creation, and how this value would interface with your personal financial plan and estate plan. Price with a written valuation and template to measure future changes in value: $12,500. Price with the template but without the written valuation: $8,500.
- An analysis of your eventual estate liquidity and cash flow based upon your present and projected individual financial statement, your estimate of the current value of your business, your estimate of your cash flow needs in retirement, a review of your will and any trust documents, designations of beneficiary forms and life insurance: Price $9,500.
The above are examples of added high-value services that could confer substantial benefit along with the client having a heightened feeling of financial security, comfort and empowerment. All prices mentioned are illustrative and would be based on the client’s situation. A client with a business with sales of $3 million would have a much lower price for a valuation than a business grossing $30 million a year. Likewise, a client with $3 million net worth would have a much less complicated financial and potential estate situation than a client with $30 million net worth along with multiple trusts, real estate and business investments.
My motive with this column is to pique your interest and imagination about what your clients might need. Examine your clients’ situations, their pain points, and expressed and unmentioned concerns, find ways to help them, and then prepare a listing of three or four suggested services that would allay their fears and concerns.
If my local Chinese restaurant could do it, then you and I should also be able to do it for our clients. Do not wait for the client to ask about added services. Suggest them now!
Do not hesitate to contact me at
Big Four firm PwC announced new agentic AI capacities, including a model that proactively identifies areas of value leakage and acts inside the tools teams already use to fix them itself.
The new solution,
The software, which is supported by PwC’s recently released
The system connects directly into ERP environments, continuously monitors key metrics, and acts inside the tools teams already use. For example, a supply chain agent might detect rising shipping costs and automatically reroute deliveries to reduce spend. Finance agents can spot and correct billing errors before they reach the customer. Clients typically see measurable efficiency gains in the first quarter, with continued improvements over time as the system learns and adapts.
“Too many transformations still rely on one-off pilots and stale data, stretching the gap from insight to impact and suffocating ROI,” said Saurabh Sarbaliya, PwC’s principal for enterprise strategy and value. “Agent Powered Performance flips the economics by distilling PwC’s industry transformation playbooks into AI agents that turn static insights into compounding gains, without rebooting each time.”
Agent Powered Performance is platform-agnostic and built on an open architecture so it can work across different LLMs based on client preferences and task-specific needs. It works with major enterprise platforms including Oracle, SAP, Workday and Guidewire.
Agent OS Model Context Protocol
PwC also
By integrating this standard, agent systems registered as MCP servers can be used by any authorized AI agent. This reduces redundant integration work and the overhead of writing custom logic for each new use case. By standardizing how agents invoke tools and handle responses, MCP also simplifies the interface between agents and enterprise systems, which will serve to reduce development time, lower testing complexity, and cut deployment risk. Finally, any interaction between an agent and an MCP server is authenticated, authorized and logged, and access policies are enforced at the protocol level, which means that compliance and control are native to the system—not layered on after the fact.
This means that agents are no longer siloed. Instead, they can operate as part of a coordinated, governed system that can grow as needs evolve, as MCP support provides the interface to external tools and systems. This enables organizations to move beyond isolated pilots toward integrated systems where agents don’t just reason, but act inside real business workflows. It marks a shift from experimentation to adoption, from isolated tools to scalable, governed intelligence.
Research Composer
Finally, a PwC spokesperson said the firm has also launched a new internal tool for its professionals called Research Composer, a patent-pending AI research agent embedded in the firm’s ChatPwC suite, designed to accelerate insight generation by combining web data with PwC-uploaded content.
Professionals will use the Research Composer to produce in-depth, citation-backed reports for either the firm or its clients. The solution is intended to enhance the quality of client work by equipping teams with research and strategic analysis capabilities.
The AI agent prompts users through a step-by-step research workflow, allowing them to shape how reports are packaged—tailoring the output to meet strategic needs. For example, a manager in advisory services might use Research Composer to evaluate white space opportunities across industries or geographies, drawing from internal reports and up-to-date market data.
Eide Bailly, a Top 25 Firm based in Fargo, North Dakota, is growing its presence in the Pacific Northwest by adding Traner Smith, based in Edmonds, Washington, effective June 2, 2025.
Traner Smith’s team includes two partners and 16 staff members and specializes in tax compliance and advisory services. Financial terms of the deal were not disclosed. Eide Bailly ranked No. 19 on
Eide Bailly already has offices in Seattle, but hopes to grow further in the Pacific Northwest. “We’re pleased to welcome the talented team at Traner Smith to Eide Bailly,” said Eide Bailly managing partner and CEO Jeremy Hauk in a statement Monday. “Their expertise with high-net-worth individuals, real estate and privately held businesses aligns well with our strengths, and their client-centric approach is a perfect cultural fit. Having an office in Edmonds, Washington, is a great complement to our existing presence in Seattle. Together, we’re poised to deliver even greater value to families and businesses in the Seattle metro area.”
“Joining Eide Bailly is a natural next step for us — it provides access to deeper technical resources in areas like state and local tax, national tax, succession planning and international tax while allowing us to continue the personalized service our clients value,” said Kevin Smith, a partner at Traner Smith, in a statement.
“With this expanded support and platform, we’re excited to grow our reach, elevate what we do best, and help more clients than ever before,” said Shane Summer, another partner at Traner Smith, in a statement.
Eide Bailly has announced several other mergers in recent weeks. Earlier this month, it added
In 2023, Eide Bailly added
Top 100 firm
“We began working with Knuula in Spring 2024 to streamline our engagement letter process,” said Don Murphy, Managing Member of BMSS. “It quickly became clear that Knuula was not only a strong solution for us, but also an ideal partner in advancing industry-wide automation.”
While the specific terms of the deal were not disclosed, a spokesperson with Knuula said that, after this investment, BMSS and a collection of 21 of their partners now own 13% of the company. The investment represents not some passive revenue deal but an active collaboration between the two companies, with the spokesperson saying they will be working closely together on things like product development, new features, improvements, and networking.
The deal comes about a year after Knuula integrated with QuickFee, a receivables management platform for professional service providers, which allowed users to have engagement letters directly connecting to their QuickFee billing platform, tying the execution of the letter directly to the billing process.
“We’ve long sought to partner with a firm focused on strategic innovation in the accounting space,” said Jamie Peebles, founder of Knuula. “To develop a perfect solution for large firms, it is ideal to have a partner that is willing to work closely together and iterate quickly. This requires constant feedback between our two teams. The IT team from BMSS worked with our development team constantly and helped us iterate rapidly. We also had consistent input from partners, manager, and administrative staff to help us make valuable changes to Knuula. BMSS was a perfect partner for us.”
PwC AI agent acts proactively to preserve value
Eide Bailly merges in Traner Smith
BMSS announces investment, collaboration with Knuula
New 2023 K-1 instructions stir the CAMT pot for partnerships and corporations
The Essential Practice of Bank and Credit Card Statement Reconciliation
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