The Accounting Podcast

The Accounting Podcast Trailer Bonus Episode 257 Season 1

Wrong Metrics, Wrong Conclusions

Wrong Metrics, Wrong ConclusionsWrong Metrics, Wrong Conclusions

00:00

2021 is coming to a close, but we’ve still got a lot to talk about. Blake recounts his trip to the Digital CPA conference, and takeaways from the keynotes he may or may not have attended, including the call to end the IT department, as we know it. We’ll talk about why CAS is where it’s at, why you might be underpricing your CAS, how the wrong metrics can lead to the wrong conclusions, and how much work is too much. We’ve also got some thoughts on Ed Mendlowitz’s ”Art of Accounting: Timesheet dispute redux,” 2021 Zoom trends, and some great feedback from listener, Cathy Volk on personal responsibility, and why she doesn’t see QuickBooks Desktop use declining. In app news, we’ve got funding raises, updates from Oracle, news on FreshBooks, TaxDome, Kabbage, and two surveys from QuickBooks. Grab your gift-wrapping supplies, a tasty beverage, and join us!

Show Notes

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Show Notes

00:52 – Blake’s got a new Mac!
 
02:27 – David’s Bank-Feed Debacle
 
05:58 – The Threshold of Hell  – Watching National Lampoon’s Christmas Vacation?
 
06:57 – Blake's Takeaways from Almost Inside Digital CPA
 
08:46 – It’s Time to Get Rid of the IT Department              
https://www.wsj.com/articles/get-rid-of-the-it-department-11637605133
 
15:33 – The AICPA's Melancon: ‘The profession that constantly reinvents itself’ | Accounting Today
https://www.accountingtoday.com/list/the-aicpas-melancon-the-profession-that-constantly-reinvents-itself
 
19:35 – Accounting 4.0: Don’t become Blockbuster Video
https://www.accountingtoday.com/opinion/accounting-industry-4-0-is-happening-dont-become-blockbuster-video
 
22:45 – Are You Under-Pricing Your Client Accounting Services? - CPA Trendlines
https://cpatrendlines.com/2021/10/21/are-you-under-pricing-your-client-accounting-services/
 
29:49 – Voices Art of Accounting: Timesheet dispute redux | Accounting Today
https://www.accountingtoday.com/opinion/art-of-accounting-timesheet-dispute-redux
 
30:35 – A Timesheet Debate & Why Work Takes So Long
https://podcast.earmarkcpe.com/episodes/the-great-timesheet-debate-with-ed-mendlowitz
 
33:05 – Blake’s Timesheet Use Case
 
35:35 – What Is a “Reasonable” Number of Work Hours? - CPA Trendlines
https://cpatrendlines.com/2021/10/11/what-is-a-reasonable-number-of-work-hours/
 
38:39 – New QuickBooks research reveals the impact of late payments on mid-sized businesses
https://quickbooks.intuit.com/r/growing-complex-businesses/midsize-payments-research/
 
44:08 – Majority of Mid-Sized Businesses Outgrow Technology or Overpay for Unused Features
https://investors.intuit.com/news/news-details/2021/Majority-of-Mid-Sized-Businesses-Outgrow-Technology-or-Overpay-for-Unused-Features/default.aspx
 
46:00 – Here’s How You Zoomed Over the Past Year - Zoom Blog
https://blog.zoom.us/how-you-zoomed-over-the-past-year-2021/
 
51:07 – H&R Block names Xero a preferred solution provider
https://www.accountingtoday.com/news/h-r-block-names-xero-a-preferred-solution-provider
 
51:22 – Twitter comment from Zachary Owen, re: H&R Block
https://twitter.com/ZachJOwen/status/1469429680348479491
 
52:37 – Canopy raises $35M in latest funding round | Accounting Today
https://www.accountingtoday.com/news/canopy-raises-35m-in-latest-funding-round
 
Canopy’s Accounting Practice Revolution Receives $35M Injection
https://aithority.com/it-and-devops/cloud/canopys-accounting-practice-revolution-receives-35m-injection/
 
53:51 – Intuit QuickBooks Canada and Dataswitcher join forces to automate conversion to a cloud-based accounting solution
http://www.canadian-accountant.com/content/partner-posts/intuit-quickbooks-canada-and-dataswitcher-join-forces
 
54:22 – Oracle Gains After Sales Top Estimates on Cloud Performance
https://news.yahoo.com/oracle-gains-sales-top-estimates-215221263.html
 
54:48 – FreshBooks, Sensibill Bolster Small Business Expense Management
https://www.pymnts.com/smbs/2021/freshbooks-sensibill-bolster-small-business-expense-management/
 
54:58 – Kabbage® from American Express Launches Kabbage Funding™ to Help Simplify Funding for U.S. Small Businesses
https://www.businesswire.com/news/home/20211208005617/en/Kabbage%C2%AE-from-American-Express-Launches-Kabbage-Funding%E2%84%A2-to-Help-Simplify-Funding-for-U.S.-Small-Businetransactions

55:16 – Accounts payable automation startup Tipalti raises $270M, quadruples valuation to $8.3B
https://techcrunch.com/2021/12/08/accounts-payable-automation-startup-tipalti-raises-270m-quadruples-valuation-to-8-3b/
 
55:35 – CPA funding portal expands with loan-financing option for small biz clients | Accounting Today
https://www.accountingtoday.com/news/cpa-funding-portal-expands-with-loan-financing-option-for-small-biz-clients
 
57:29 – Facebook Message from Cathy Volk – Thank you!
https://business.facebook.com/CloudAccountingPodcast/inbox/


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Creators & Guests

Host
Blake Oliver
Founder and CEO of Earmark CPE
Host
David Leary
President and Founder, Sombrero Apps Company

What is The Accounting Podcast?

The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.