Accounting Answers Podcast

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. In today's episode 22, "Best Practice Tips for Vision in Accounting Firms" with special guest Will Farnell, founder of innovative UK accountancy firm Farnell Clark and author of The Digital Firm. You can also watch this on youtube here: https://youtu.be/xD6sygr4vGoKey takeaways from this episode include:➠ the benefits of setting up an accounting firm with no preconceptions to you can start from scratch with a client focused approach➠ how clarity on vision and purpose can be a key differentiator for accounting practices➠ the direction and drive that comes from a clear purpose and vision in accountancy firms➠ initial steps for accounting firms who haven't properly crafted their purpose and vision➠ what external facilitation and objectivity helps massively to help accounting firms create their vision and values➠ how complexity and diversity in larger accounting firms can make a united vision harder➠ why having a firm personality is as important as the personality of key leaders and owners➠ what leads to confusing branding and positioning for accounting firms with vague visions➠ the three words that should feature in any accounting practice vision statementSee also Will Farnell's previous interview: "The Power of Purpose & Vision for Accounting Firms" on our Insights in Accounting podcast here: https://bit.ly/3fVxsYZ or on Youtube here: https://youtu.be/FTaTuuWo0jgTune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. In today's episode 21, "Implementing Tech & Software in Accounting Firms" with special guest Lucy Cohen, founder of innovative UK accounting firm Mazuma. You can also watch this on youtube here: https://youtu.be/pcus3njbo8cKey takeaways from this episode include: the challenges accounting professionals face in making decisions on which tech and software to choose the importance of a peer group, community and a trusted network to help make better tech decisions for better ROI dealing with the lure and persuasive selling techniques of software vendors with sales targets why the hardest part of making a tech decision is the adoption and integration into the business the critical steps in a software implementation plan for accounting firms tips for dealing with the people side of tech implementation in accountancy practices what happens when accountants and accounting firm leaders get things wrong with their tech decisionsTune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. In today's episode 20, "How Accountants Can Be More Productive by Working Less" with special guest Carl Reader, founder of d&t accountants and bestselling author of BOSS IT. You can also watch this on youtube here: https://youtu.be/zZfzY20IAUgThanks to our newest sponsor of this show ProNation, the accounting community you wished you'd found sooner. To find out why three heads are better than one, go to https://jointhenation.co.uk/Key takeaways from this episode include:✶ one of the core problems that limits all people in all jobs, especially accounting and fintech✶ why working harder is not necessarily better for accountancy professionals✶ the other important aspects of being a working professional aside from the billable hours✶ the five different kinds of work that accountants engage in, and which take up the most time✶ the importance of ideation, innovation and inspiration for technically smart professionals and entrepreneurs✶ why a $1000 moment is better than a $200 hour for any business professional✶ what more time spent on ideation can do for accounting practices in driving growth and innovation✶ the problems in productivity caused by slavery to your email inbox and instant messages✶ how to avoid falling into the pandemic culture of longer virtual meetings✶ how accountants can engage in more creative ideation for problem solving and being more productive✶ Book recommendation - "Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork" by Dan Sullivan & Benjamin HardySource for today's piece: https://www.fastcompany.com/90739838/you-just-might-be-more-productive-if-you-work-lessTune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. In today's episode 19, "Overcoming Failure to Implement in Accounting Firms" with special guest Will Farnell, founder of innovative UK accountancy firm Farnell Clark and author of The Digital Firm. You can also watch this on youtube here: https://youtu.be/uihawIvAmq8Key takeaways from this episode include:☞ examples of the kind of changes many accounting firms want to implement but don't or can't☞ how VUCA (volatility, uncertainty, complexity and ambiguity) and the pandemic have been catalysts for change in accountancy☞ the role of appetite for change in accounting firms and what makes some projects successful and others not☞ what stops accountants from changing and what leads to a failure to implement for accounting firms☞ how to overcome the 'time' excuse for accountants struggling to implement change☞ how the fear of change is a big obstacle for many accountants☞ the one deciding factor that should frame any change project in an accounting firm☞ how accounting firms make bad decisions about investing in technology☞ key takeaways and strategies for accountants to be more effective in implementing changeTune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. In today's episode 18, "How Accountants Handle Complaints & 1 Star Reviews" with special guest Lucy Cohen, founder of innovative UK accounting firm Mazuma. You can also watch this on youtube here: https://youtu.be/uwk1959IvFcKey takeaways from this episode include:◆ the polarization of reviews and why it's usually only ever 1 star or 5 star feedback for accounting firms◆ how it's unrealistic for any accounting practice or fintech company to expect zero complaints◆ regardless of who you are and what you do, there will always be haters and saboteurs because we all have different tastes◆ the choices accountants and practices have when a bad review or complaint is posted publicly◆ the steps accountants and accounting firm professionals can take to right wrongs and make things better with complaints◆ the difference between legitimate and personal complaints for accountancy and fintech professionals◆ what accounting practices should do with complaints and poor reviews if they are valid and things need fixing◆ the importance of showing grace and patience when service isn't up to a certain standard◆ what to do when online or public complaints 'blow up' and gather social media momentum◆ the need to look at reviews on their merits, particularly if the person complaining is influential and high profile◆ the power of apologising and being contrite when people complain about your product or service◆ the part integrity and authenticity plays in engaging PR companies to 'cancel' bad reviews and why nobody can avoid bad opinions◆ shout out to the upcoming launch of ProNation, a new mentoring and coaching community for accountantsTune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. In today's episode 17, "What Soccer Can Teach Accountants About Leadership" with special guest Carl Reader, founder of d&t accountants and bestselling author of BOSS IT. You can also watch this on youtube here: https://youtu.be/fIbKSdn7ybgKey takeaways from this episode include: the comparisons on leadership with accounting practices and professional sports clubs the most important job for a leader in any business, including accountancy firms the trust required to delegate tasks as an accounting leader to people that may not be as good as you the impact of desire and ego in assigning roles in a professional firm or sports club why the leader should not actually the hero in the story of a professional organisation what it looks like when a leader's laziness is bigger than their ego shout out to Hungerford FC and Southend United soccer clubs in the UK what £1000 moments and £1m ideas look like for leaders in accounting practices in delivering big benefits what bad leadership looks like and what happens to organisations with poor leadership practical tips for 'wannabe' leaders to channel their ambition in the accounting and fintech world the importance of dress and professionalism for leaders wanting to set the right example the need for young or new leaders to revisit their management books to get the basics right with vision and communication why ongoing skills development is vital for today's leaders to stay relevant and impactful with their peopleTune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. In today's episode 16, "How Accountants Can Get Closer to Their Clients" with special guest Will Farnell, founder of innovative UK accountancy firm Farnell Clark and author of The Digital Firm. You can also watch this on youtube here: [link from spreadsheet]Key takeaways from this episode include:➜ how making more money is not always the goal of accounting firm clients➜ what accountants and CPAs need to do and when to find out the real goals for their clients➜ what accountants started doing as a result of covid that really brought them closer to their clients➜ the many benefits to accountants and accounting firms of better client relationships and intimacy➜ strategies to help accountants be more intentional and strategic about proactively reaching out to clients➜ exactly what client experience is for accountants and why it goes beyond good client service➜ what accounting clients do when they feel loyal to your firm and are having an exceptional experience➜ how greater intimacy and frequency of client contact opens up additional selling opportunities for accountants➜ the vital 'key to the door' that unlocks a much better client experience and more quality engagement for accountantsAction: to get closer to clients, accountants should improve their onboarding, increase frequency of contact and ask better questions to uncover more business opportunitiesTune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. Episode 15. In today's session, "Best Steps to Profitably Grade Accounting Clients" with special guest Lucy Cohen, founder of innovative UK accounting firm Mazuma.You can also watch this in video format on our youtube channel:https://youtu.be/g2VEwnfQDbIKey takeaways from this episode include:☛ why getting rid of the wrong clients takes strength and a certain ability for many accountants☛ the negative consequences for accountants who will not or cannot jettison their most unprofitable clients☛ the importance of 'intention' for accountants in changing their client base and what stops them from making tough decisions☛ why it's hard for accountants to break up with their clients, even though it's the right thing to do☛ how accountants can define A-grade clients down to D-grade clients and the criteria for each category☛ the need for accountants and CPAs to be continuously reviewing their client base and calibrating relationships☛ the role of data and metrics beyond relationships that helps accountants segment their client portfolio☛ what markers might dictate whether an accounting client is more prone to churn or leave than another☛ what accountants who work for someone else can justify upwards the case for losing certain unprofitable clients☛ best practice tips for accountants to have the 'it's over' conversation with certain clients☛ shout out to ProNation, a new coaching and mastermind group that challenges the limitations of traditional 'one guru' communitiesAction - critically ask if each of your accounting clients merits a place in your portfolio. Is the juice worth the squeeze?Tune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. Episode 14. In today's interview, "Personal Net Worth, the Accountant's Secret Weapon."Key takeaways from this episode include: ☑ what a good accountant does when talking to a client and what a great accountant does better ☑ how a personal net worth position helps the clients of accountants and CPAs ☑ why the individual's goals matter as much as the company's goals for the clients of accounting firms ☑ where the 'personal net worth' conversation can lead a good accountant with additional services and recommendations ☑ how the 'compliance mindset' of many accountants closes down higher level conversations with their clients ☑ why the best accountants recognise they need to have the questions more than the answer to serve clients ☑ the 'phrase that pays' for accountants and CPAs to position the personal net worth conversation with clientsAction - focus on the personal as well as the business side of accounting clients to (1) serve them more diligently and (2) create more advisory opportunities. Tune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use

This is the Accounting Answers Podcast, hosted by Rob Brown. Formerly known as the Best Practice in Accounting Podcast, this show asks and answers critical questions of the experts, leaders and influencers who shape the decision-making of accountants, CPAs and finance professionals. Episode 13. In today's interview, "Best Practice for the Accounting Annual Review."Key takeaways from this episode include: why many accounting firms don't really offer all the things their website says they do the difference between annual reviews and year end tax meetings for accountants what questions a conscientious accountant should be asking a client as part of an annual review the marketing and business development benefits for accountants of doing annual reviews what's wrong with the excuse from accountants "I don't have time to do annual reviews for clients" what is lacking from some accountants in so-called annual client reviews what some accountants miss in serving clients by not doing the simple and basic things very well two questions an accountant or CPA can ask their clients to turn a good annual review a great one good responses to annual review questions that can create more opportunities for accountants to serve their clientsAction - Do annual reviews for your clients. If you already do them, do them better by incorporating some of the approaches and questions in this episode.Tune into more on this daily show for short, sharp episodes that keep you informed of what's happening in the accounting world and the whole ecosystem of consultants, organizations, vendors and advisors who serve them. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events◣━━━━━━━━━━━━━━━━━━━━◢Thanks to our sponsors:CPA Trendlines. Actionable intelligence for the professional tax, accounting and finance community. Facts and figures, insights and implications, news, trends, tips and research serving more than 500,000 tax, accounting and finance professionals from around the world. go to https://cpatrendlines.com to sign up for free email updates. If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore. https://www.linkedin.com/in/therobbrownYou can also check out other Accounting Influencers Shows on YouTube:https://bit.ly/AI-youtubeMentioned in this episode:Dead Show / YouTubeThis is for episodes in Networks we no longer use