Earmark Podcast | Earn Free Accounting CPE

Follow the journey of Keeley Favoino, CPA, from her background in accounting at various organizations, including EY, Starbucks, OfferUp, and Farmer's Fridge, before joining Foxtrot, a modern corner store concept. Foxtrot's accounting department was initially focused on bookkeeping, but as the company grew, so did the need for a more robust accounting system. Keeley led the transformation from cash basis accounting to GAAP financials using QuickBooks Online, creating streamlined processes and establishing communication channels between departments. As Foxtrot continued to expand, Keeley and her team decided to upgrade to NetSuite, a platform that could better handle their reporting needs and integrate well with their existing tech stack.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:22) - Preview: Being curious and finding the right fit (01:27) - Earn Free CPE (01:48) - Welcome Keeley to the show, and please tell us about FoxTrot (06:11) - What did Foxtrot look like in the beginning? (09:02) - What did the accounting team look like when you joined? (12:24) - How did you start working with startups? (25:26) - What came after OfferUp? (32:33) - Walk us through your moves with setting up systems (46:45) - What were your next steps and systems you implemented (49:15) - How did you pick your ERP system? (50:52) - What is a 4-4-5 Calendar (01:01:58) - What is your favorite thing about NetSuite? (01:10:22) - What is next for Keeley? (01:12:18) - What advice would you give to a young public accountant that is interested in startups? (01:16:04) - Wrap up and how to connect with Keeley Connect with Our Guest, Keeley FavoinoLinkedIn: https://www.linkedin.com/in/keeley-favoino/Learn more about Foxtrothttps://foxtrotco.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Blake Oliver is joined by Katherine Studley and Jim. Katherine and Jim specialize in helping OnlyFans creators and sex workers with their accounting and tax needs. They discuss the unique challenges facing these clients, as well as the common misconceptions and stereotypes surrounding the industry. Katherine shares how she built her business through TikTok and Instagram, and Jim explains how their pricing structure and hiring practices have contributed to their success. Tune in to learn more about this fascinating and underserved niche in the accounting world.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:00) - Preview: Everyone deserves judgment-free financial representation (01:10) - Earn Free CPE (01:30) - Welcome Katherine to the show (02:36) - Background on Jim (04:11) - Who are your clients? Are they all OnlyFans creators? (05:08) - Chapter 6 (08:20) - Do you see sex workers being discriminated against in audits? (13:29) - What deductions should OnlyFans creators be taking? (14:32) - What are the biggest challenges you face working with OnlyFans creators? (16:12) - How do you make 1040s work? (18:01) - Where are you finding talent, and how are you training them? (21:44) - What was the biggest lift to get ClickUp to work for your firm? (22:52) - How do you like ProConnect compared to other software you've used in the past? (27:12) - What other apps do you use or recommend? (31:13) - Chapter 15 (32:22) - How do your clients get into this line of work? (35:04) - What type of income are your clients making from this? (37:34) - Are you worried about TikTok potentially getting banned in the U.S? (41:04) - Why do banks or payment processors give OnlyFans creators such a hard time? (42:04) - Give us a sense of the size of the industry (44:47) - What are some tips on creating content that appeals to your target audience (47:52) - Human-trafficking and sex-trafficking training (52:26) - Wrap up and where to reach Katherine or learn more Connect with Our GuestsKatherine Studley: LinkedIn: https://www.linkedin.com/in/katherine-studleyTwitter: https://twitter.com/theonlyconsultFacebook: https://www.facebook.com/katherine.studleyInstagram: https://www.instagram.com/the_only_consultantTikTok: https://www.tiktok.com/@the_only_consultantConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

In this episode of the Earmark Accounting Podcast, Blake talks with Stacey Feldman, CPA, about her experiences in the world of CPG and accounting at PopSockets. They look at the challenges of scaling a startup, from tracking components in a supply chain to accounting for inventory costs. Stacey also reveals insights around simplifying supply and the importance of real-time data for accurate accounting.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:00) - Preview: The importance of merging accounting and finance (00:44) - Earn Free CPE (01:05) - Welcome Stacey Feldman to the show (04:06) - Stacey's career path in the CPG industry (11:16) - What was the first big challenge that you had to solve in accounting for Pop Sockets? (15:05) - What did you map with the supply chain? (25:35) - What put PopSockets on the map and scaled the brand? (28:16) - What is FBM? (28:49) - How did you do all the accounting for PopSockets? What tools did you use? (36:54) - PopSockets 14 Million Dollar mistake (42:14) - What lessons have you learned regarding customer discounts? (47:44) - Differences between full manufacturing and light manufacturing (53:57) - What other cutting edge technology or interesting tech is Sunday using? (01:03:45) - Wrap up and how to connect with Stacey Connect with Our Guest, Stacey FeldmanLinkedIn: https://www.linkedin.com/in/feldmanstacey/Learn more about Full Send Financehttps://www.fullsendfinance.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Ariel Menche recounts his FP&A journey - from his tenure with KPMG and the WWE, to FP&A consulting to startups. His strategic financial advisory story highlights valuable FP&A lessons, including insights about data's impact on a CFO's role and establishing best practices for financial model development.Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on AutopilotSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:00) - Strategic finance (00:45) - Earn Free CPE (01:07) - Welcome Ariel to the show (03:13) - How Ariel got into FP&A pro wrestling (09:15) - What did the financial models for the WWE look like? (13:20) - Tell me more about these sheets you created to keep track of accrued expenses (17:54) - What gave you the idea to do this? (19:51) - What did you do with your extra time? (20:50) - What were the most memorable KPIs at WWE? (24:35) - What's the difference between working for the WWE and now running FP&A for startups (34:17) - How did you learn how to build financial models? Do you have advice on how to start? (46:34) - What is your favorite type of business to model? (48:37) - Ariel shares an example where a formula works out that he wasn't sure about (51:45) - Do you have any advise for people who want to do what you do? (56:19) - Wrap up and where to reach Ariel (58:07) - Remember to go earn FREE CPE Connect with Our Guest, Ariel MencheLinkedIn: https://www.linkedin.com/in/ariel-menche/Learn more about Raftel Strategyhttps://raftelstrategy.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

In this episode, Blake and Ron Baker discuss the subscription economy. They delve into the origins of the terminology and how CPAs and accountants can provide more value to their clients by prioritizing relationships over services. This is a must-listen for anyone interested in the subscription industry, which is projected to surpass $1 trillion by 2025.Many thanks to our sponsor, Anchor!To learn more about Anchor, visit https://earmarkcpe.promo/anchorSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appChapters(00:00) - Preview: A firm can't be everything to everyone (01:16) - Earn Free CPE (01:33) - Welcome Ron Baker to the show (03:11) - What does "subscription economy" mean? (04:33) - What does the subscription model look like for accounting firms? (13:10) - If I'm not billing hourly, how do I make sure that my team doesn't get completely overwhelmed? (16:41) - Why there is a shortage on accountants? (26:39) - Power of different pricing models (32:48) - Why don't accountants charge based on how many assets they manage? (42:37) - What CPA firms do to impact people's lives (45:28) - How accountants can approach thier clients in a different way (51:21) - Amazon never would have happened if Jeff Bezos thought like an accounting firm (57:24) - Accounting firms want to change but don't (01:04:47) - What does the future of accounting look like? (01:06:32) - How to contact Ron Baker Connect with Our Guest, Ron BakerLinkedIn: https://www.linkedin.com/in/ronbaker1/Twitter: https://twitter.com/ronaldbakerLearn more about VerasageWebsite: http://verasage.comGet Ron's book"Time's Up!: The Subscription Business Model for Professional Firms": https://amzn.to/3y7GfxbConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

We’re talking to Chase Birky, CEO and co-founder of Dark Horse CPAs, a non-traditional CPA firm. Learn the advantages and challenges of being a CPA firm, the importance of creating a positive work environment for staff, and the need for the accounting profession to attract and retain more young talent. Tune in to hear insights into alternative paths for CPAs and how the industry can work towards creating a more sustainable and fulfilling workplace culture.Many thanks to our sponsor, LiveFlow!To learn more about LiveFlow, visit https://earmarkcpe.promo/liveflowChapters(00:00) - EAP 42 (01:10) - Welcome Chase to the podcast (02:47) - Unpacking the "Anti-CPA Firm" concept (07:13) - What is different about Dark Horse versus the traditional partnership model? (10:27) - Office Space should be mandatory viewing and work/life balance (19:39) - Are there any issues running a CPA firm the way you do? (25:14) - Does you firm do audits? (26:03) - Why did you decide to make your firm a CPA firm? (28:19) - What things have you had to go through as a CPA firm? Peer review? (33:42) - CPA firms can't give equity to non CPAs (40:01) - If you were the president of the AICPA what would you be saying to firms? (44:08) - Blakes reads posts on r/accounting about the industry (53:39) - Wrap up and how to reach Chase and earn free CPE Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE AppApple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Chase BirkyLinkedIn: https://www.linkedin.com/in/chasebirky/Learn more about Dark Horse CPAsWebsite: http://darkhorse.cpaConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Tim Petrey shares his journey from starting as a receptionist to becoming a partner in his CPA firm and founder of a payroll service. He discusses how his firm, HD Davis CPAs, evolved from a tax business to a full-service advisory firm and how they acquired small practices to grow. Tim also emphasizes the importance of adopting technology to streamline processes. Tune in to hear more about Tim's journey and the lessons he learned along the way.Many thanks to our sponsor, LiveFlow!To learn more about LiveFlow, visit https://earmarkcpe.promo/liveflowChapters (00:00) - Preview: We want to be the Chick-fil-A of payroll providers (01:07) - Welcome and Tim's introduction (06:26) - What was your job when the 2008 financial crisis hit? (11:18) - What did things look like from a tech perspective when you started and what did you do to change it? (19:22) - Tim's thoughts on time sheets (30:57) - How do you price CFO or advisory services? (45:51) - Some of Tim's accolades (46:40) - How to create a better workplace (51:44) - How to connect with Tim Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guest, Tim Petrey LinkedIn: https://www.linkedin.com/in/petreycpa/Learn more about HD Davis CPAsWebsite: http://hddaviscpas.proConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Blake Oliver is joined by Ben Sutton, the founder of Mazuma. Mazuma offers core monthly bookkeeping services, reconciliations, basic financials, and tax returns for a flat fee of $180 per month. Ben believes small businesses need services traditional accounting firms don't provide, and he wanted to give them the support they need. He found it possible to offer bookkeeping services at a low cost, as long as the scope of services and what clients can and cannot do is carefully limited.Many thanks to our sponsor, LiveFlow!To learn more about LiveFlow, visit https://earmarkcpe.promo/liveflowSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE AppApple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app(00:00) - Episode 40 (01:30) - Background on Ben Sutton (11:26) - What deliverables do you send your clients each month or quarter? (16:34) - Do you have a niche that you specialize in? (22:14) - Where are your employees located? (27:14) - What is your typical technology stack for clients? (40:21) - What tax software do you use? (49:50) - How many clients do you have per bookkeeper? (52:45) - How are continuing to grow your business? (55:24) - BONUS: Opinions on CPE (58:43) - How to connect with Ben Show NotesListen to the Earmark Podcast interview with Argel Sabillo referenced in this episode: https://podcast.earmarkcpe.com/episodes/building-an-offshore-team-in-the-philippines-from-0-to-15-staff-in-4-yearsConnect with Our Guest, Ben SuttonLinkedIn: https://www.linkedin.com/in/benleesutton/Learn more about MazumaWebsite: http://mazumausa.comConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Half of accountants believe that diversity is important. Half do not. Meanwhile, efforts to increase diversity in accounting firms have had disappointing results. Todd Shapiro and Kari Natale of the Illinois CPA Society join to discuss why and what the profession should do about it.Many thanks to our sponsor, LiveFlow!To learn more about LiveFlow, visit https://earmarkcpe.promo/liveflowSign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app(00:00) - Preview: Coninue to talk about the diversity issues (00:51) - How to earn FREE CPE (01:13) - Overview of the diversity problem in the CPA profession (04:31) - Tell us about your internship program (09:59) - Why are accountants leaving the profession? (14:14) - Things firms can do to help these employees be better preprared (24:25) - Launching 2.0 version to ensure success once they are at a job (27:59) - 36% of accounting profession doesn't think DEI is important (31:55) - Organizations make better decisions when employees are diverse (40:58) - What can universities and schools do to prepare accounting majors better? (42:31) - What is it that alumni felt like they were unprepared to do? (44:55) - Should schools be teaching more soft skills (51:04) - Wrap up and where to reach Todd and Kari Show NotesAccountants and DEI: By the numbers | Accounting Todayhttps://www.accountingtoday.com/list/accountants-and-dei-by-the-numbersRead "A CPA Diversity Report: Uncovering the Barriers to Success"https://www.icpas.org/information/professional-issues/cpa-diversityConnect with Our GuestsTodd ShapiroLinkedIn: https://www.linkedin.com/in/todd-shapiro-536b6b1/Kari NataleLinkedIn: https://www.linkedin.com/in/karinatale/Learn more about the Illinois CPA Societyhttp://icpas.orgConnect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Michael on LinkedIn: https://www.linkedin.com/in/michaelly/Learn more about Reconciled: https://reconciled.com/Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/