The Woodard Report Podcast: Featuring Heather Satterley and Joe Woodard

On this show, Heather Satterley and Joe Woodard talk about The Top 50 Accounting Services Practice Awards. The awards, administered by Woodard® , recognize and honor those practices that most exemplify the characteristics of a top-performing CAS, accounting, or bookkeeping practice. The awards recognize accounting practices as an organization rather than individuals within the practice. Nominations will open in November, applications in January, and the selection process in February. Joe and Heather also discussed their regular show segments. TV and Movie Segment: Joe recently watched House of Lies and Heather revisited a favorite movie, The Curious Case of Benjamin Button. Book Segment: Joe discussed The Advantage by Patrick Lencioni Social Media Segment: Heather enjoyed this LinkedIn post from Terrell Turner and Joe shared an X post from Luke Templin. Woodard Report Article Recommendation: Heather recommended 4 Inspiring Vacation Types for Accounting Professionals Thank you to our show sponsor! Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Heather Satterley and Joe Woodard talk about the importance of revising pricing strategies for existing clients, an issue critical to any firm that has been in business for more than one year. Here are the key points they covered in the podcast: The Seven Step Revenue Reset Process: This is a high level discussion to get you thinking. The full revenue reset process is available to Woodard members. More information is at this link: https://www.woodard.com/membership-overview TV and Movie Segment: As always, Joe and Heather share quotes from recent shows they've watched and bring it back around to a relevant business topic. Joe recently watched The Acolyte and Heather binged House of the Dragon. Book Segment: Heather discussed "The Courage to Be Disliked," which talks about Alfred Adler's psychology theory focused on future-oriented living over being tethered to past traumas. Social Media Segment: Both Heather and Joe shared a social post, including one about the need for every business to have a specialist akin to an Olympic athlete who excels in one area. The AICPA Client Termination Letter Checklist can be found at this link. Woodard Report Article Recommendation: Heather recommended an article on managing seasonal revenue spikes for bookkeeping firms. Thank you to our show sponsor! Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Joe Woodard speaks with Yashwanth Madhusudan, co-Founder and CEO of Fyle, about the complexities of managing business expenses in today's digital and diversified financial environment. Here are a few key points from their conversation: The Evolution of Expense Management Role of Credit Cards in Businesses Challenges of Multiple Credit Cards Impact of Spend Management on Accounting Practices  This episode wraps up with a summary of the key benefits of using advanced spend management systems like Fyle to handle the complexities of modern business expenses. Thank you to our show sponsor! Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Joe and Heather talk about the evolving nature of bookkeeping and its future, alongside discussions on Heather's recent conference travels. Here are a few key points from their conversation: The Future of Bookkeeping Adapting to Industry Changes Personal Reflections and Predictions Heather's Conference Insights  This episode is a deep dive into the transformation of bookkeeping, encouraging professionals to anticipate changes and adapt strategically. Thank you to our show sponsor! Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Joe speaks with Nicole Davis. Nicole is a practioner who lives in your world every day doing tax and accounting work as a firm owner dealing with all the same struggles you deal with. She has an truly inspiring story to tell about her life as an accountant. About Nicole Davis:  Nicole (Butler) Davis is the founder and CEO at Butler-Davis Tax & Accounting, LLC. She brings almost two decades of experience in accounting, tax, financial management and advisory services to clients of all sizes in real estate, construction, retail, financial and legal services industries. Nicole specializes in tax strategy and planning, small business accounting, pharmacy accounting and construction accounting.  Here are a few key points from their conversation: Nicole's Background and Career Start Her Health Challenges What did Treatment and Recovery Look Like? Emotional and Business Insights Advice and Encouragement  Check out Nicole's website: Butler-Davis Tax & Accounting Thank you to our show sponsor! Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Heather speaks with Amy Franko about her journey and insights as a sales strategist. Amy is an expert in modern sales and author of the best-selling book The Modern Seller. About Amy Franko:  Amy Franko helps organizations transform sales culture, ignite sales growth, and build high-impact leaders through her strategic selling programs. Recognized as a LinkedIn Top Sales Voice, Amy is the leading expert in modern sales strategies—including in-demand sales training programs, sales strategy, and as a sales keynote speaker and leadership keynote speaker. She guides growth-oriented organizations to significantly improve their results through B2B sales strategy and sales team skill development. Here are a few key points from their conversation: Selling Skills Leadership and Development in Your Firm The Intrapreneurial Approach Networking and Referrals Check out Amy's book and website: AmyFranko.com The Modern Seller Thank you to our show sponsor! Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Heather and Joe speak about the recent FTC ruling banning non-compete agreements and its implications for the accounting and broader business sectors. Here are the main points discussed: Here are a few key points from their conversation: FTC's Ban on Non-Compete Agreements — As of April 24, 2024, the FTC has banned non-compete agreements, impacting many industries, including accounting. This rule affects businesses under FTC jurisdiction in the U.S., with certain exceptions like non-profits and businesses operating entirely overseas. Scope and Exceptions — The ban targets all types of workers, including employees, contractors, and sole proprietors. Some businesses tried to argue for exceptions, but none were granted specific relief. However, non-profits have different standards based on their operational nature. Broader Implications — Joe and Heather discussed the noncompete ruling factually and also share their views on how this ruling could affect business dynamics, particularly the balance of power between large and small businesses, and the mobility of workers within the accounting industry. Important links: The safe harbor language mentioned by Joe at the 22 minute mark of the podcast can be found at this link. FTC press release FTC final rule Thank you to our show sponsors! Expensify — The expense management app that does it all, for every business Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Heather speaks with Naomi Granger and Bruce Anderson about the cannabis industry from a financial and regulatory standpoint. About Naomi: Naomi Granger, CPA, MBA, is a seasoned accounting professional with over 18 years of experience, who has dedicated the last seven years to serving the cannabis industry exclusively. Naomi's passion for this growing industry has led her to work with dozens of operators and provide training to over 700 accounting professionals eager to expand their knowledge and skills in servicing cannabis clients. About Bruce: Bruce Andersen founded CannabisCPA.Tax which is a premier boutique resource to the legal cannabis industry in the areas of tax, audit, accounting, and consulting. The firm is based in Los Angeles with the bulk of its client base in California. The firm also has clients in twenty other cannabis friendly states. The firm’s client base includes cultivators, distributors, retailers, and manufacturers. It is a division of AndersenCPA.Com. Here are a few key points from their conversation: Growth and Complexity of the Cannabis Industry Navigating Legal and Regulatory Frameworks Accounting and Banking Challenges in the Industry Future Outlook and Growth Potential of the Industry Education and Resources for Accountants through the National Association of Cannabis Accounting and Tax Professionals (NACAT Pros) Thank you to our show sponsor! Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Heather speaks with Kelly Richmond Pope about her intriguing journey into forensic accounting, her experiences with fraud, and the human elements that complicate financial crimes. Here are a few key points from their conversation: Kelly Richmond Pope's Background Her Early Interest in Accounting A Personal Anecdotes of Learning About Fraud Professional Encounters with Fraud Discussion on Whistleblowers Impact of Fraud on Victims and the Role of Emotional Connection Advice on Vigilance Against Fraud Changing Dynamics in the Accounting Profession Combining Passions and Careers Kelly's work includes: Fool Me Once - A book by Kelly on Amazon All the Queen's Horses - A documentary by Kelly available on YouTube More accountants are leaving the field than joining. What’s going on? - A BigThink talk by Kelly Thank you to our show sponsor! Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Joe speaks with Randy Crabtree about the critical elements of fostering a positive company culture, its impact on professional mental health, and its significance in the business environment. Randy Crabtree, co-founder of Tri-Merit Specialty Tax, host of the Unique CPA podcast, and a renowned speaker in the accounting industry, shares his insights and experiences on building a culture that promotes mental wellness and productivity. Here are the key points from their conversation: The Importance of Leadership in Cultivating Company Culture Defining Positive Company Culture Micromanagement vs. Empowerment The Balance Between Process and Flexibility Outcome-Based Work Environment Employee Empowerment and Role Fit The Financial Benefits of a Positive Culture Diversity and Inclusivity in Building Company Culture Don't forget to check out the book mentioned during the podcast. Measure What Matters by John Doerr Thank you to our show sponsors! Expensify — The expense management app that does it all, for every business Rightworks — All your accounting apps, unified in the cloud Learn more about the show and our sponsors at Woodard.com/podcast