#48 What we are Looking Forward to at the Accounting Business Expo

‘From The Trenches’ - Real Life in the Accounting Industry presented by Paul Meissner and David Boyar.

Episode 48

Show Notes

 

Snippets/Audio Grabs:

·      Listener contacted us about Xero/NAB item from last week. Was Paul’s hesitation justified? Xero confirmed NAB only get necessary data. User has full control.

·      Next week we’ll have someone from ABE talking about it.

 

04:05 Best on Ground:

David

Is Value Pricing Ethical?

We are used to paying more for airline pricing in peak season, but what if airlines check your IP address to learn your spending habits, then charge you accordingly?

 

Data Breach Laws

Most firms aren’t ready. Accountant’s Daily is great at creating awareness. Chartered Accountants site also has lots of information. Office of the Australian Information Commissioner site also great.

 

MYOB Results

Up 60% growth. 399,000 users on cloud platform. Xero has 1 million. Intuit has around 400,000. Truly a 3-horse race.

 

Paul

MYOB Incite ‘Success Starts Now’ Roadshow

Great feedback coming through. Positive outlook for accountants. MyAdvisor AI plug-in for MYOB files automates accounting advice. Looks exciting.

 

14:49 Worst on Ground:

 

Paul

Bernard Salt

Just started a small business and is worried about payment terms. How can someone who was close to the top of KPMG not understand zero payment terms is not practical?

The Accountant’s Guide to AI, Cloud Software and the Robot Revolution

https://www.accountingtoday.com/opinion/the-accountants-guide-to-artificial-intelligence-cloud-software-and-the-robot-revolution

Surveys imply data entry tasks reflect all accounting work. Dolce & Gabbana used drones to fly handbags down catwalk. Not just accountants losing jobs to robots.

 

23:07 5 in 5 Summary: Steph Hinds

Steph Hinds from Growthwise says accounting businesses don’t have to be one-size-fits-all. She believes accountants run businesses, not firms or practices. Small business clients need different types of assistance.

·      You can choose the services you want to provide.

·      Ok to focus on compliance. Automation helps but tax complexity has not been reduced.

·      No need for partner/committee structure. Better to follow a business model and focus on what each person is brilliant at then assign specific roles to them.

·      This is the year to get excited about your business. Put the right people in the right roles.

 

31:30 In-Depth Topic: ABE. What we are looking forward to.

21-22 March in Sydney.

Massive. Expecting over 5,000 people. All about content. Free tickets. Networking opportunities. Themed rooms. Exhibitors.

Sessions to attend:

 

Paul

·      Elysse Morgan (the next Leigh Sales) to moderate a discussion on going from accountant to CFO with Damien Singh.

·      Strategic partnerships and how they differ from referral partners.

·      David’s panel – Lielette Calleja and John Knight – biggest award winners from Xero and Intuit to talk about strategic partnerships plus Adrian Patty.

·      Technical sessions.

 

David

·      Profitable partnership sessions

·      Tim Reed – Keynote speech about the 4th industrial revolution.

·      Matt Prouse - Cloud versus industry data comparison.

·      Steve Sammartino – How to futureproof your firm.

·      Deb Croucher – How to grow your firm through digital storytelling.

·      Jason Andrew – How social media can facilitate content creation.

·      Panel debate – Is advisory the future or is it all hype?

 

Come and have a chat with us there.