#209 Upskilling for Tomorrow: The Advisory-Driven Evolution of Accounting with Roger Knecht, President Universal Accounting & Podcast Host “Building the Premier Accounting Firm”

#209 Upskilling for Tomorrow: The Advisory-Driven Evolution of Accounting with Roger Knecht https://open.spotify.com/episode/2k4TLteEXRIcFInGhqfaJX As the accounting profession navigates the shifting landscape of compliance-driven services and the growing demand for strategic advisory, the need for upskilling has become paramount. Roger Knecht, the President of Universal Accounting and host of the "Building the Premier Accounting Firm" podcast, shares his insights on this critical transformation. In this insightful discussion, Roger and Kevin, explore the evolving role of the modern accounting professional. They delve into the commoditization of traditional services, the rise of CFO and advisory offerings, and the essential skills required to thrive in this new era. Knecht, a seasoned industry veteran with over 25 years of experience, provides a unique perspective on the changing dynamics within the accounting profession. The conversation highlights the importance of formalizing and pricing advisory services effectively, as opposed to offering them as an add-on to compliance-focused work. This shift in mindset and service delivery is crucial in ensuring that accounting professionals can meet the growing demands of their clients and remain competitive in the market. Knecht also emphasizes the need for accounting professionals to develop strong interpersonal skills, a non-judgmental approach, and the ability to ask the right questions to guide clients towards their own solutions, fostering trust and delivering meaningful value. Key topics covered:  Roger Knecht's background as a podcaster and his journey at Universal Accounting The distinction between compliance-focused services and the value-added advisory role The importance of formalizing and pricing advisory services effectively The client's perspective and the benefits of a one-stop shop for accounting services The interpersonal skills and mindset shift required for successful advisory engagements The impact of AI on the accounting profession and the need for accountants to become "prompters" The future outlook for the accounting industry and the role of human advisors in an AI-driven landscape https://www.youtube.com/watch?v=kjh74LPhX0w&t=393s Links Roger Knecht on LinkedIn Kevin Appleby on LinkedIn GrowCFO Mentoring Timestamps 00:00:11 - Introduction of Roger Knecht and the Grow CFO Show 00:00:44 - Roger Knecht's background and interests 00:01:33 - Roger's journey into podcasting 00:03:59 - Roger's 25-year tenure at Universal Accounting 00:04:52 - Roger's non-accounting background 00:05:57 - The evolution of accounting services and the rise of advisory 00:10:11 - The distinction between tax preparation and tax planning 00:13:13 - The ideal client size for CFO and advisory services 00:14:45 - The need for upskilling in the accounting profession 00:19:46 - The importance of asking the right questions as an advisor 00:24:24 - The impact of AI on the accounting profession 00:34:15 - The unique value of human advisors in an AI-driven landscape 00:37:10 - The future outlook for the accounting profession Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here. You can find out more and join today at growcfo.net