99. Accounting Business Expo

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This week, David is coming straight to you from Accounting Business Expo. He's joined by the biggest and brightest leaders propelling our industry forward for an epic panel discussion.

We are joined by:

Andrew Van De Beek - 2018 Thought Leader of the Year

Lielette Calleja - 2017 Au Firm of the Future Winner and AAT Director

Heather Smith - Literally wrote the book on Xero, Cloud App master mentor and cloud newsletter author

Steph Hinds - One of the first 100% cloud accountants who rivals Paul Meissner for straight talking 

Ron Lesh - The founder of BGL, the tech company who has survived more change than most (and shares amazing insight as an exhibitor at ABE) 

And a special cameo appearance by Sam Rotberg - a recent social media superstar (listen to find out more)

NOTE: Paul couldn't get to Accounting Business Expo but don't worry, he comes up often in this episode!

About Us

From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL

Interview with Joseph Healy, Co-founder at Judo Capital

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Water Cooler Lunch Series - Request your seat to join David and Judo at one of our Melbourne lunches and learn about expanding your network of professionals to include CFO advisers (yes, Sequel CFO works with accountants) and new bank lenders. 

Interview with Joseph Healy

With so much attention on the banking sector both David and Paul are sure that new entrants are going to have an impact. One such entrant is Judo Capital who is going to be able to compete at similar debt pricing to traditional SME lending banks. 

David tracked down Judo Capital's co-founder and joint CEO Joseph Healy for a wide ranging interview. 

The highlight of course, is his envy that bankers don't have the trusted relationship us accountants have with clients.

 

About Us

From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL

98. You don't HAVE to do advisory

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Best on Ground 

Worst on Ground 

Indepth: You don't HAVE to do advisory.

Something grinds our gears. And that something is: 

Generic conversations about accountants having to do advisory, from people who've never done it. 

It comes from this idea that because advanced use of technology means that it takes a lower amount of time to do traditional compliance work. It stems from a line Xero used to tout, 'Compliance is dead, you have to do advisory'. 

What's wrong with the way advisory is being spoken about?

About Us

From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL

97. ATO Scandal: Part 3

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Best on Ground

Worst on Ground

Indepth: ATO Scandal Part 3

Following the ATO’s scandal last year a parliamentary committee has made 37 recommendations for changes into the ATO handling of disputes.

See linked episodes:

The recommendations have some good and some bad, so in true FTT style, David and Paul try to work out which ones will work and which won't.

Check our our interview with Debt Commissioner Robert Ravanello here.

You can check the full list of recommendations here: https://www.aph.gov.au/Parliamentary_Business/Committees/House/Tax_and_Revenue/2016-17AnnualReport/Report/section?id=committees/reportrep/024240/26793&_lrsc=396f93d4-9f23-423f-8f1e-61c0bcc004de&trk=elevate_li

96. Accountants - You're on Notice

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Best on Ground


Worst on Ground


Indepth: Accountants - You're on Notice.

We live in an anti-establishment world and accountants are perhaps the thread that ties the establishment together, so we need to be aware. With Royal Commissions into banking, aged care, mental health and pay day lenders, as well as parliamentary inquiries into franchising and even the ATO facing a Parliamentary committee, we have to be on alert.

Is our behaviour and action truly inline with our regulatory obligation and being the trusted advisor we think we are?

In the wake of these commissions and inquiries, many of which slammed the practices of sales and cash collection cultures, our industry is peppered with consultants telling us to grow, sell, use value pricing which charges clients different fees for the same work and sometimes same outcome.

We need to focus on being who we are and being great at it, because an inquiry into our conduct is not a far bow to pull.

95. Special: News Week

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Best on Ground

David

Paul:

Worst on Ground

Paul:

David:

Interview: Jason Andrew Author of Stark Naked Numbers

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Jason Andrew is no ordinary accountant. Whilst running his own firm he found a way to spend 18 months writing a book about accounting for entrepreneurs.

David caught up with Jason in Brisbane to find out:-

  • Why accountants lost out on being the cool business people

  • Why it's so hard to see what accountants do from the lens of clients

  • Why empathy matters for accountants

94. Quickbooks is Not in Competition with You

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Best on Ground

It's great to see Accountants out in public entering the public conversation about business success Good on ya' Jason Robinson on Kochie and Jase Andrews on Your Money.

Go in the Draw to win a book https://sbo.financial/FTT

How good is Bruce Bardell's subtle tax tip on Linked In - ‘’Its never too late to lodge’’ https://www.linkedin.com/in/bruce-bardell-5074b69/

Tim Munro from Change GPS has an excellent template that shows you how to sack a client

Paul:

Good news, Accounting jobs are on the increase

https://www.theage.com.au/business/workplace/is-your-industry-growing-or-shrinking-find-out-the-future-of-your-profession-20190128-p50u2r.html

Worst on Ground

MYOB may have missed the pricing mark on their new corporate compliance fee structure

https://www.accountantsdaily.com.au/technology/12619-myob-targets-compliance-work-with-beta-launch?utm_source=Accountants+Daily&utm_campaign=07_02_19&utm_medium=email&utm_content=3&fbclid=IwAR0K3UCRs3JM4TFy4ldcn35BwZ5vI2fLeRAuS0lG607QeNwOBpBZ4Z_alig

How come so many veteran consultants are advising banks to put customers first? Shouldn't this have been obvious?

https://www.afr.com/business/accounting/banking-royal-commission-put-customers-first-or-else-consultants-warn-20190204-h1at9s

One of the all time great reasons to not lodge a tax return

https://www.theage.com.au/national/victoria/man-says-he-doesn-t-have-to-lodge-tax-returns-because-he-s-not-a-person-20190207-p50wbt.html

Indepth

Quickbooks have advertised a test to actually do the bookkeeping for small and micro businesses at a very low price point upsetting a lot of their fans. But we don't think it's such a big deal. Do you really want THOSE clients? At THAT price point? Doing THAT kind of work?

2017 Quickbooks Firm of the Future winner Lielette Calleja joins us to discuss the response from the Aussie bookkeeping community (almost nothing) and we ask if the fearful response is just a giant beat up.

Check out the news on this

https://www.intuitiveaccountant.com/general-ledger/is-intuit-building-the-h-and-r-block-of-bookkeeping/?#.XGHnfKTZWEc

And the well researched (if not fear mongering headlined) article from Blake Oliver

https://www.blakeoliver.com/blog/bookkeeping-is-dead

93. Handed Down: The Banking Royal Commission

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Best on Ground

Forget co-working, take your office to the beach

https://workandco.co.za/nova/

Public accounting will make you fat miserable and diabetic, or will it?

http://entirethoughts.com/2018/02/02/avoid-public-accounting/

If client’s don’t care about the tech you use but rather what you do for them, then spotlight white labelling is a good option

https://twitter.com/spotlightrep/status/1089976962095988736?s=19

Will single solution tech ultimate let you down as the big players include their features.

https://www.google.com.au/amp/s/amp.ft.com/content/c91a5136-1fa3-11e9-b126-46fc3ad87c65

Congratulations to Tanya Titman a true leader of the industry

https://www.linkedin.com/pulse/new-horizons-consolid8-acceler8-tanya-titman/

Great to see a new support business to promote the great women in accounting. Well done to Lielette Calleja, Kylie Parker and Kelly Chard on launching Accountek Global

https://www.linkedin.com/pulse/empowering-women-finance-kylie-parker/


Worst on Ground

The big 4 fail in the SME space, again.

https://www.accountingweb.co.uk/practice/general-practice/kpmg-shutters-small-business-accounting-unit

Crypto Lock out

https://www.marketwatch.com/story/crypto-exchange-customers-cant-access-190-million-after-ceo-dies-with-sole-password-2019-02-04

Indepth

Check in the show for our discussion about why the Royal Commission couldn’t have been good because the banks share prices went UP! We also discuss how mortgage brokers are responding and why the lawyers always win.