Transforming Accounting: How Jody Grunden’s Journey is Redefining the Industry for Young Professionals

“I want to make sure that whatever we create, it's not only conducive for my lifestyle but for my entire team.” – Jody Grunden

The finer details of this episode:

• Transformation of the accounting profession
• Changing perceptions within the accounting industry
• Importance of personal relationships and communication in professional success
• Experiences and challenges faced in public accounting and corporate roles
• Entrepreneurial journey and founding of Summit CPA Group
• Emphasis on work-life balance and flexible work environments
• Adoption of remote work and its impact on company culture
• Need for adaptability and innovation in accounting practices
• Role of soft skills and interpersonal relationships in future accounting careers
• Encouragement for young professionals to embrace change and seek personal development opportunities

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Email us with questions or if you’d like to be a guest on the show: youngcpasuccessshow@anderscpa.com
• We’re hiring! Check out our open positions: https://www.summitcpa.net/career-opportunities
• Connect with Jody here: https://www.linkedin.com/in/jodygrunden/
• Check out Summit Virtual CFO by Anders here: https://www.summitcpa.net/

Timestamps:

Welcome to the Young CPA Success Show (00:00:00)

Introduction to the podcast aimed at guiding young accounting professionals in their careers.

Changing Perceptions in Accounting (00:00:23)

Discussion about the importance of altering how the world perceives accounting.

Jody's Journey in Accounting (00:01:23)

Jody shares his background, from studying finance to discovering his passion for accounting.

Experiences in Public Accounting (00:02:35)

Jody recounts his challenging experiences in public accounting and the toll it took on him.

Transition to Corporate World (00:04:09)

Jody describes his shift from public accounting to corporate roles and initial enjoyment.

Starting an Entrepreneurial Journey (00:05:38)

Jody discusses leaving corporate life to run a small CPA firm and its challenges.

Creating Summit CFO (00:07:14)

Jody details the founding of Summit CFO, focusing on innovative practices and culture.

Changing the Way Accounting Works (00:08:42)

Jody emphasizes his goal to transform accounting practices for better work-life balance.

Pioneering New Accounting Practices (00:10:14)

Recognition of Jody as a pioneer in innovative accounting practices and culture.

Overcoming Obstacles in Accounting (00:12:01)

Discussion on turning challenges into opportunities and embracing change in the industry.

Building Team Culture (00:14:00)

The importance of intentional team culture and communication in remote work environments.

Risk and Change in Accounting (00:15:02)

Challenges accountants face with risk and change, and the need for adaptable team members.

Here are the extracted timestamps and their corresponding titles from the podcast episode transcription segment:

Going Remote: The Decision (00:15:42)

Discussion on the decision to go fully remote and initial reactions from the team.

Stand-Up Meetings and Culture (00:16:36)

Overview of stand-up meetings, starting with jokes, and fostering a collaborative culture.

Initial Resistance to Remote Work (00:17:14)

Team members express concerns about remote work; only one person agrees to the idea.

Office Renovation and Investment (00:18:32)

Details about the office renovation and the unexpected shift towards remote work.

Lessons from the Transition (00:19:17)

Reflections on the financial implications of the office renovation amidst the remote transition.

Adapting to Remote Work (00:20:03)

Gradual acceptance of remote work by team members and the eventual leasing of the office.

Listening vs. Acting (00:21:02)

Speaker discusses the importance of listening to feedback without feeling obligated to act on it.

The Entrepreneurial Spirit (00:22:16)

Exploration of the entrepreneurial mindset within the company and its impact on employee roles.

Compensation Structure and Flexibility (00:23:50)

Explanation of the compensation model that supports both ambition and security for employees.

Importance of Diverse Roles (00:27:06)

The necessity of having both ambitious and content employees for company success.

Evaluating Potential Hires (00:28:20)

Criteria for assessing candidates, including sports and teamwork experience beyond academics.

Remote Work Dynamics (00:29:46)

Discussion on the effectiveness of remote work and maintaining engagement through video calls.

Remote Work Presentation Tips (00:31:12)

Importance of professional camera presence and background during virtual interviews.

Creating Work-Life Boundaries (00:32:03)

Discussion on the necessity of having a designated workspace to separate work from personal life.

Flexibility in Remote Work (00:32:50)

Benefits of remote work include flexibility for personal emergencies and family commitments.

Task-Oriented vs. Hours-Driven Work (00:34:23)

Emphasis on productivity based on task completion rather than hours worked.

Balancing Career and Family (00:35:18)

Personal experiences of balancing a career in accounting with family responsibilities.

Company Culture and Flexibility (00:36:11)

Summit CFO’s supportive environment allows employees to prioritize family alongside work.

Personal Health Journey (00:37:15)

Speaker shares health improvements and lifestyle changes since joining Summit CFO.

Work-Life Integration (00:38:49)

Discussion on the shift from work-life balance to work-life integration for better fulfillment.

Vision for Accounting's Future (00:40:12)

Changing perceptions about accounting for clients and the industry, aiming for innovation.

AI's Impact on Accounting (00:45:58)

Predictions on how AI will transform traditional accounting roles and emphasize advisory services.

Importance of Soft Skills (00:47:40)

Highlighting the growing need for soft skills in accounting to build client relationships.

The Importance of Client Relationships (00:48:24)

Discusses a challenging client onboarding experience emphasizing the value of personal relationships in client retention.

The Power of Communication (00:48:38)

Highlights the necessity of communication skills for success in any profession, including accounting.

Curiosity in the Workplace (00:49:47)

Encourages questioning established practices to foster innovation and improve job performance.

The Cake Story Analogy (00:50:26)

Shares a humorous story illustrating the importance of understanding the reasons behind actions and practices.

Innovating Through Inquiry (00:51:14)

Explains how being curious and asking "why" can lead to better processes and innovation in the workplace.

Wrapping Up the Podcast (00:51:29)

Concludes the episode, expressing gratitude and excitement for future connections and opportunities.

Connecting with Jody (00:52:10)

Provides information on how listeners can connect with Jody and learn more about his work.

Invitation for Young CPAs (00:52:57)

Encourages young CPAs to explore career development opportunities with Summit CFO and Anders CPAs.