#56 - Australian Federal Budget

A big week on the back of the Australian Federal Budget, join the boys as they look at some of the reactions (in the news and on social media) and take an in-depth look into some of the finer detail.

The 5-in-5 this week take’s a look into what’s holding Xero back, and there’s the usual best/worst on ground covering topics surrounding the future of work, regulatory compliance and a dreaded sales email!

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

https://www.fromthetrenches.com.au/

Episode 56 Australian Federal Budget

Show Notes

1:32 Best on Ground

Paul  

Google’s Duplex Assistant Phone Calls

https://www.theguardian.com/technology/2018/may/08/google-duplex-assistant-phone-calls-robot-human

‘A good example of tech coming to help, not hinder’

 

ADSA Mega Conference

https://www.accountech.live/media-alert

‘Very very happy to get a vendor-agnostic event in Melbourne’

 

David

Joshua Woods: Accounting/Finance Technology Sales – How Do We Get The Best Out of Each Other? https://www.linkedin.com/pulse/accounting-finance-technology-sales-how-do-we-get-best-joshua-woods

‘Fundamentally we’re both here to add value, however that may be’

 

You Have Obligations – ASIC Cracks Down on ICO’s

https://www.theage.com.au/business/investments/you-have-obligations-asic-cracks-down-on-initial-coin-offerings-20180502-p4zcsp.html?utm_medium=rss&utm_source=rss_business

‘ASIC has tightened the loose cord around ICO’

 

Accountants and Bookkeepers Team Up in Connected Practice

https://www.myob.com/au/blog/accountants-bookkeepers-team-up-connected-practice/

‘Accountants and bookkeepers must work together’

 

12:42 Worst on Ground

Paul

Moula’s Sales Email

‘I think it’s safe to say I disagreed with it – just a little bit’

 

David

Twitter

‘Are we actually capable of online debate?’

 

22:01 5 in 5 Summary:

For the 5 in 5 this week, the boys delve into a prevalent question but one that no one really knows the answer to – what’s wrong with Xero?

 

1. The product (lack of effective AI integration)

2. The marketing shouldn’t be able drive the agenda

3. All of Xero’s external management with practical experience have left

4. Insights looked at a small fraction of the businesses that got the tax cut (selective sampling).

5. Insights becomes political (referring to such a small subset of SME's and taking PR victory laps)

 

37:32 In-Depth Topic:

On the back of this year’s Federal Budget, with a fine-tooth comb the boys pick out some of the weird, wacky and wonderful items in the budget. Listen in to hear their thoughts on some of the aspects such as:

·      The anti-slavery measures

·      Funding support for the women’s FIFA World Cup bid

·      Legal funding for the MH17 prosecution

·      ATO equipped to tackle the black economy

·      Support for filmmakers in Australia