Podcasts about sequel cfo

In this episode, Paul Barnhurst is joined by Lance Rubin, who has a wealth of financial modeling experience including working for PwC & KPMG, Investec Bank Corporate Finance & Advisory, National Australia Bank, and starting his own practice.Lance spent two decades working for corporations (PwC & KPMG, Investec Bank Corporate Finance & Advisory, National Australia Bank). It was during this time he gained a love of modeling. Lance was previously the CFO of fin-tech start-up Banjo (SME lender) and Sequel CFO whilst founding Model Citizn, a financial modeling, analytics, and automation consultancy firm following his 20 years in corporate. He has delivered a number of online training workshops in financial modeling and Power BI whilst also being a certified trainer for the FMI and he wrote a large portion of the CA (ANZ) study guide on financial modeling. He was also a judge at the world's first Financial Modeling Innovation Awards and he presented at the Power BI Global Summit in 2022. Listen to this episode as Lance shares:  His learning from the worst models he has come across.His journey into Financial Modeling and how he fell in love with modeling.The key to Financial Transformations.The HACK Framework.The importance of Power BI and similar tech.His advice on the use of tools and shortcuts.His position on controversial modeling issues, including circular references, dynamic arrays, modeling standards, AI in modeling, and more.Quotes:  “Financial Transformation is the combination of process, tech, and people. With people being the most important.” “The HACK Framework (Hygiene, Automation, Capability, Knowledge) allows you to bring technical skills and soft skills. together...You need to develop capability and knowledge and you need to bring that together with hygiene and automation.” “Data Modeling and Financial Modeling sound the same but are fundamentally quite different.”  Sign up for the Advanced Financial Modeler Accreditation or FMI Fundamentals Today and receive 15% off by using the special show code ‘Podcast'. Visit www.fminstitute.com/podcast and use code Podcast to save 15% when you register.  Go to https://earmarkcpe.com, download the app, take the quiz and you can receive CPE credit.  Follow Lance:    Website - https://www.modelcitizn.com/LinkedIn - https://www.linkedin.com/in/financial-modelling/Follow Paul: Website - https://www.thefpandaguy.com/  LinkedIn - https://www.linkedin.com/in/thefpandaguy/ TikTok - https://www.tiktok.com/@thefpandaguy YouTube - https://www.youtube.com/@thefpaguy8376 Follow Financial Modeler's Corner LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true Newsletter - Subscribe on LinkedIn- https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984 In today's episode:  (00:22) Intro;(00:47) Welcoming Lance;(01:00) The worst financial model Lance has ever seen;(05:14) Takeaway from the worst financial model;(08:02) Lance's background;(11:27) Key to Finance Transformation;(17:37) The Hack Framework;(18:43 - 19:29) Validate your Financial Modeling Skills with FMI's Accreditation Program (ad);(19:30) What led to Lance's love for Modeling?;(22:38) The most interesting model;(26:30) Importance of Power BI and similar Tech;(31:51) AI and Financial Modeling;(36:10) The learning that saved Lance a lot time while Modeling;(41:16) Rapid Fire;(46:58) Connect with Lance;(48:15) Outro;

Best on Ground Optus Fined for Scare Tactics The ACCC said in a statement that Optus had emailed a total of 138,988 of its mobile customers on 24 May 2018, claiming that their home broadband services would soon be disconnected, and urged them to “make the switch, before it’s too late” to Optus NBN broadband. The real kicker, according to the competition watchdog, was that these customers’ home internet services were not even provided by Optus, but rather its competitors. https://www.mybusiness.com.au/marketing/6454-optus-fined-6-4m-for-misleading-nbn-claims Are some business advisory services just too risky?    There are roughly 100 accredited business valuation experts in the CA community, and they're struggling to get PI https://www.facebook.com/groups/977122739056681/permalink/2189420644493545/ Nandos rolls out in restaurant ordering app but Paul saw this on the Greek Islands last year. Is tech that slow?    https://www.thebusinessconversation.com.au/2019/11/15/nando%E2%80%99s-table-ordering-technology-revolutionises-fast-casual-dining/1573788749 The Outsourced Accountant tackles a common offshoring question "how do I protect data?" in a simple info graphic in their private client facebook group (pic on the website) You can now feel free to use you bad grammar  Apostrophe warrior gives up fight, saying ‘ignorance and laziness’ has won  Apostrophe Protection Society has closed Here is the ultimate guide: https://www.apostrophe.org.uk/page2.html https://www.news.com.au/lifestyle/real-life/news-life/apostrophe-warrior-gives-up-fight/news-story/04b0858fcec41e6ea4477046d0fa8f09 Worst on Ground Regulating the wild west just got knocked back a rung.  7.30 Report missed an opportunity to have an important discussion about the wild west of non bank lenders by using a hard luck, Aussie battler story instead.  https://www.abc.net.au/7.30/the-wild-west-of-shadow-banking/11748144 The next wework collapse was for a $300m dog walking business (we can't make this stuff up) https://edition.cnn.com/2019/09/27/tech/wag-dog-walking-softbank/index.html The Tesla Cyber Truck launch has created 250,000 orders, each with a refundable $100 deposit. Does that qualify as a sale in marketing language? What about accounting standards?   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

BEST ON GROUND David Boyar https://twitter.com/Rich_Preece/status/1199164672370450434  https://www.youtube.com/watch?v=gl4lzz3uhkI&=&feature=youtu.be Chad Davis at IFAC   Paul Meissner London Xerocon - printed coffee cups and cricket pitch.  Blockchain is Dead? Crypto Geeks Debate Merits of Once Dear Tech https://www.bloomberg.com/news/articles/2019-11-12/blockchain-is-dead-crypto-geeks-debate-merits-of-once-dear-tech    WORST ON GROUND David Boyar https://www.theaustralian.com.au/commentary/editorials/westpacs-systemic-failure-opens-door-to-criminals/news-story/d022ddd339400bcdbe35ccda4b24c457 David accepted 100 Linked in connections at once. 20 automated responses, 1 real conversation.    Paul Meissner https://www.cpapracticeadvisor.com/firm-management/news/12083988/8-good-reasons-why-every-accounting-firm-should-survey-their-clients CRM Fail from a cold caller. 2nd call in a month. Same telephone number.    About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

BEST ON GROUND Paul Meissner Have we hit peak crazy for Venture Capital. Will we learn from WeWork? https://www.smartcompany.com.au/startupsmart/op-ed/venture-capital-slow-down/ Congratulations to Xero on hitting 2mil subscribers. https://www.smh.com.au/business/small-business/a-big-milestone-xero-hits-two-million-subscribers-revenue-jumps-20191107-p5387t.html Another amazing company breakdown. This time Ryan takes a look at McDonalds. Do McDonalds profit from burgers or property?https://twitter.com/investing_city/status/1192200769652396032?s=21   Worst on Ground Findex CEO in trouble over the changes to CGT. Never a good look for the head of an accounting firm to have incorrect tax returns.  https://www.afr.com/companies/professional-services/findex-ceo-fights-ato-over-tax-on-capital-gains-20190815-p52hfv Apparently Advisory is the path to growth for accounting firms. Based on the AFR top 100 list, it’s the hidden growth from acquisition that could be the key.  https://www.afr.com/companies/professional-services/advisory-the-path-to-growth-for-accounting-firms-20191111-p539cg?&utm_source=facebook&utm_medium=social&utm_campaign=nc&eid=socialn:fac-14omn0053-optim-nnn:nonpaid-25/06/2014-social_traffic-all-organicpost-nnn-afr-o&campaign_code=nocode&promote_channel=social_facebook How do you raise money for drought relief? If your Findex apparently you do it by wasting water.  About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

BEST ON GROUND David Boyar Lawyers don’t have the same relationship with clients Accountants do but this new subscription model could change that https://legalvision.com.au/news/legalvision-launches-legal-advice-subscription-for-149-month/  CA Catalyst SOLD OUT Data Analytics Workshop proved to me that just because an app has a lot of xero connections, doesn’t mean it’s right for you. https://www.linkedin.com/feed/update/urn:li:activity:6593297938557038592/?commentUrn=urn%3Ali%3Acomment%3A(ugcPost%3A6593297898438529024%2C6593433855431151616)  Leadership taken seriously by Hood Sweeney https://www.linkedin.com/posts/hood-sweeney_hoodsweeney-southaustralia-professionalservices-activity-6594443066617266176-oTft  Paul Meissner https://www.nytimes.com/2019/10/24/us/nuclear-weapons-floppy-disks.html?smtyp=cur&smid=tw-nytimes https://www.9news.com.au/national/tax-return-ato-deadline-lodging-how-do-i-file-when-mygov-excuses-australian-news/0a6b12c5-abcd-4d92-804b-6c3594a686f2?ocid=Social-9News https://www.grammarcheck.net/clutter/ https://twitter.com/mfriedrichark/status/1188869007601881095?s=21 ATO winning the 2019 AMY Awards for their Online Services for agents Campaign   WORST ON GROUND David Boyar The 30 under 30 recognises young talent, but do they need more entitlement?  How can we manage their expectations? https://www.accountantsdaily.com.au/30u30/ Wayne Schmidt's email stuff up: “Hi >”   https://twitter.com/wayne_schmidt/status/1186505290843217920?s=20 Paul Meissner ASIC Factsheet re SMSF’s is something a lobbyist would write. Overblown cost to run and return % numbers. Bordering on advice. Great BGL response.   Rockpool Underpayment of workers: https://www.abc.net.au/news/2019-10-25/rockpool-dining-group-accused-of-tampering-timesheets-by-union/11638380   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

BEST ON GROUND David Boyar The power of Paul Meissner who is a finalist in the Xero awards for Cloud Champion. https://twitter.com/storminwalker/status/1179811595570036736?s=20 Congratulations Paul https://www.xero.com/au/events/xero-awards/  Customer Focused Fine Print for Financial products. https://www.smartcompany.com.au/finance/fintech-asic-financial-services/  Paul Meissner Sage buys Autoentry. https://www.sage.com/investors/investor-downloads/press-releases/2019/09/27/sage-announces-acquisition-of-autoentry/ Hubdoc to Xero, AutoEntry to Sage, what’s next... Costco is a fascinating business. You know all those groceries you buy?  Yeah, they basically sell those at breakeven and then make all of their profit from the $60 annual membership fees. https://twitter.com/investing_city/status/1179974257779982336?s=21 PwC Is Spending A Massive $3 Billion To Upskill Its Employees. Number of employees 250,930 (2018) https://pulse2.com/pwc-3-billion-upskill-employees/   WORST ON GROUND David Boyar Paris Financial channels Donald Trump in a post that  tells people “You gotta ditch your current accountant. Seriously!” https://www.linkedin.com/posts/ugcPost-6575255094957350912-ucvT The gig economy is not the future, data proves it  https://hbr.org/2018/10/myths-of-the-gig-economy-corrected https://oversharing.substack.com/p/everything-we-thought-we-knew-about-the-gig-economy-is-wrong  Paris Financial channels Donald Trump in a post that  tells people “You gotta ditch your current accountant. Paul Meissner Brazen attempt to extort money: https://www-publicaccountant-com-au.cdn.ampproject.org/c/s/www.publicaccountant.com.au/news/scammers-posing-as-federal-officers-try-to-extort-money-from-taxpayers/amp   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Paul Meissner Unable to switch off.  5 out of offices in 10 years.  Being able to work remotely gives a false sense of being able to do it effectively.  Remote working is often glorified as beaches, etc. I needs to be the same work intensity just a different location.  Family holidays and the challenge.  About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

BEST ON GROUND David Boyar RSM adopts Greatsoft, a huge blow to MYOB and a huge win for a new entrant  https://www.accountantsdaily.com.au/technology/13638-xero-scores-biggest-migration-with-mid-tier-deal  FYI DOCS Customer sentiment feature  Paul Meissner If this isn’t a window in to releasing software. Flashy, promises a lot, released prematurely and ultimately the key features needed aren’t connected yet.  https://metro.co.uk/2019/10/04/police-robot-told-woman-go-away-tried-report-crime-sang-song-10864648/ https://www.accountingtoday.com/opinion/beyond-the-hype-how-ai-is-being-used-by-accountants-today So the record wasn’t actually a record. Good marketing hype though: https://www.google.com/amp/s/amp.theatlantic.com/amp/article/599974/   WORST ON GROUND David Boyar Greed is back, the excuses for Latitude Financials failed IPO don’t make any sense when put up against the market. https://www.smh.com.au/business/companies/the-crucial-mistake-ahmed-fahour-may-have-made-in-latitude-s-failed-ipo-20191016-p53166.html Paul Meissner https://www.news.com.au/finance/work/careers/i-clearly-caught-you-man-busted-trying-to-cheat-in-bizarre-skype-job-interview/news-story/2abe3da11f64614e22dc703bb60b5223 Worst job title ever. “At the inflection point of change” https://www.linkedin.com/in/ntamm   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

  Summary on intellectual Vices http://eprints.lse.ac.uk/65080/1/7%20Intellectual%20Vice%20and%20Self-awareness.pdf   Interview with Quassim Cassam  https://podcasts.google.com/?feed=aHR0cHM6Ly9yc3MuYXJ0MTkuY29tL3NlYW4tY2Fycm9sbHMtbWluZHNjYXBl&episode=Z2lkOi8vYXJ0MTktZXBpc29kZS1sb2NhdG9yL1YwL1dXQVowOUFKQ1hmVWhkVjUtV01md1JhWTd0SGxhQXZsbjF0aU1fLVdPREk&hl=en-AU&ep=6&at=1570074349310   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

BEST ON GROUND Paul Meissner Apple’s core values are a very interesting read. Do you have core values? https://www.facebook.com/180048600476/posts/10157563033890477?sfns=mo Accountkit - amazing software. Actually made me go “Wow”. Haven’t had that reaction for a long time. https://www.account-kit.com/  David Boyar Hands down the simplest explanation of a balance sheet I have ever heard  Income statement https://www.linkedin.com/posts/marksamowitz_accounting-finance-accountingmadeeasy-activity-6574588862612459520-zRYy  Balance Sheet  https://www.linkedin.com/posts/marksamowitz_accounting-finance-accountingmadeeasy-activity-6577802576362778624-J-sA  How do blind people see numbers? https://edition.cnn.com/2019/10/01/us/uno-braille-trnd/index.html  WORST ON GROUND Paul Meissner CA and CPA article re crisis of costs for financial advisors. Didn’t listen and pushed all members to get registered: https://twitter.com/paulmeissner_/status/1179183332510167040?s=21 CBA survey with 37 responses should never have been published due to the laughable sample size. Like marketing sending out the report with their pre-determined slant, before the actual results are in.  Part 2 was a sales person from a reporting software using it as confirmation bias. Desperate in my book.  https://www.9news.com.au/world/tesla-electric-police-car-runs-out-of-power-during-pursuit-us-news/94269854-6526-4972-8aba-e889a31665da?ocid=Social-9NewsP David Boyar What is the #1 reporting app in the Xero ecosystem? https://twitter.com/spotlightrep/status/1174814379805741056?s=19 WeWork backs out of IPO and slashed valuation.  http://nymag.com/intelligencer/2019/10/marketing-expert-scott-galloway-on-wework-and-adam-neumann.html   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Paul Meissner Recurring invoicing payments Mental Health (was it too much?) Addons - email sharing stories again, no follow up, too soon. David Boyar Start Up alley - some came to Xerocon too soon Partner story mini stages - ‘Xero’s got it’s soul back’ Trenches event - Our best yet. About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

BEST ON GROUND Paul Meissner Nagging clients have a point, why not listen to them? https://www.accountingweb.co.uk/practice/general-practice/are-nagging-clients-really-that-unreasonable Cheaper debt for being sustainable. David sees strait through this. https://www.commbank.com.au/business/latest/sustainable-finance.html   David Boyar Tax Managers are the most in demand and highest paid jobs in the USA https://www.marketwatch.com/story/the-no-1-job-in-america-with-the-best-career-opportunities-pays-112000-a-year-and-its-not-in-tech-2019-08-14 How does a global tech giant collect cash money? https://www.marketwatch.com/story/uber-customers-paid-more-than-6-billion-in-cash-last-year-and-accounting-for-it-isnt-easy-2019-08-16 How to show the value of a tax break https://twitter.com/nick_a_marie/status/1168520374423678982?s=19   Gig workers are becoming more like employees in this state. https://www.nytimes.com/2019/09/15/upshot/gig-economy-limits-labor-market-uber-california.html   WORST ON GROUND Paul Meissner Advisors as sales people..not a good idea. https://www.afr.com/companies/financial-services/developers-offer-advisers-90-000-to-flog-high-rise-apartments-20190813-p52gk1 The accountants exemption is on its way back. Kind of.  https://www.accountantsdaily.com.au/business/13522-return-of-accountants-exemption-hits-a-snag Agile has its place in small firms. https://www.afr.com/work-and-careers/management/agile-working-revolution-or-fad-20180413-h0yqwr   David Boyar How does EY not pay super on time? https://www.afr.com/companies/professional-services/ey-faces-fines-after-falling-behind-on-superannuation-payments-20190815-p52hde Sales automation looks good but, does it create leads? https://www.facebook.com/groups/theentrepreneurialaccountants/permalink/518545622063643/  Congratulations to our friends at Practice Ignition on raising $26m. Bigger celebration when we celebrate profitability though! https://www.xero.com/blog/2019/09/xero-app-partner-practice-ignition-lands-a26-million-tech-investment/   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Paul sits with Xero Founder Rod Drury. About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Paul Demo’s not lectures. I don’t want to hear your views on timesheets, how I bill my clients, etc. I want to see the product and what it does.  Practice your pitch(s). “It does everything” - NO, “it’s for every client” - NO. What’s the problem it solves, how does it solve it and what do the results look like. Pick 3  You don’t need to show everything the system does. People won’t remember the lot, so just impress them with 1-2 big things. Find the problem it solves for the person/people you are addressing. Are they new to cloud, established, etc.  Swag - useful not plastic David Ask me about my business first and change your pitch depending on the answer If you aren’t experienced, don’t try to close Try to start a relationship, accountants are slow buyers About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

You should go to Xerocon. Paul Meissner 6 reasons to get to Xerocon Networking Addons all in 1 place Partner stage (content done practically) David Boyar Refine your vision  Re energise yourself Benchmark yourself About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Best on Ground Nature vs nurture. The goal of parenting is often a nurturing, equality method, but in a family business context or performance based rewards, there is often a clash. Jon Kenfield has some great content.  https://www.linkedin.com/posts/jonkenfield_familybusiness-business-conflict-ugcPost-6565414094575415296-F3hA Why do accountants rely on their feelings when giving advice? Because they’re wimps. https://www.entrepreneur.com/article/337496 Hot desking, love it or hate it. We discuss if the people who dislike it are just disappointed they cannot hide in an office playing solitaire?https://www.afr.com/work-and-careers/workplace/the-hidden-hell-of-hot-desking-is-much-worse-than-you-think-20190729-p52bom BGL are demo-ing new tech at RegTech and the crowd are loving it. No wonder they're AFR’s 5th most innovative company https://twitter.com/BGLdot/status/1159613260317904896?s=20 Large cultural shift is happening at ANZ bank where staff bonuses are being removed. Bonuses often drive selfish behaviour were highlighted in the Hayne review. This is the first sign of fundamental changes. https://www.afr.com/companies/financial-services/anz-dumps-bonuses-for-performance-dividend-20190805-p52e2z We way thank you and farewell to MYOB CEO Tim Reed. https://www.accountantsdaily.com.au/appointments/13373-myob-ceo-tim-reed-steps-down Worst on Ground Hotshot entrepreneur racks up over $3.6m in debts. With social media, how people promote themselves can belie their true performance.  https://www.theaustralian.com.au/nation/clients-burnt-by-airbnb-hotshot-callum-forbes/news-story/9d5340d5691c17fa5dcdabe579ec70f0 The Westpac account opening saga continues with excellent customer service. Uber posts a $7.7b loss as revenue growth stalls. If not for UberEats, growth would be negative. https://www.smh.com.au/business/companies/uber-shares-dive-as-it-posts-7-7-billion-loss-20190809-p52ff2.html Is it a scam? The it’s hard for the ATO to communicate whilst telling us not to trust every bit of correspondence saying it’s from the ATO. https://twitter.com/DavidBoyar/status/1159608567961272320  About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Best on Ground Congratulations to our friends at Judo bank on their new capital raise pumping more $$ into the business lending space https://www.afr.com/companies/financial-services/judo-bank-raises-400m-in-second-round-equity-raise-20190726-p52b4t If you have to ask your accountant about the assesability or deductability of something, you probably already know the answer. https://twitter.com/cbriancpa/status/1154775607470886914?s=20  Awesome VR use of the moon landing https://time.com/longform/apollo-11-moon-landing-immersive-experience/  The accounting profession v the accounting industry. https://www.linkedin.com/feed/update/urn:li:activity:6558622154890588160/  Deliveroo finds a tax and super planning solution for their drivers https://www.itwire.com/strategy/deliveroo-partners-with-solo-smart-in-tax-arrangement-for-delivery-riders.html Worst on Ground Would you give your staff 12 weeks life leave? https://matadornetwork.com/read/australian-company-paid-life-leave/amp/ Social selling accounting ledger subscriptions? https://twitter.com/QuickBooks/status/1151957060923351055?s=20   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

This week, David sat down with Sara Pantaleo, CEO of La Porchetta, Australasia's largest, franchised, licensed, à-la-carte restaurant group. The discuss:  family business franchising  her philanthropic efforts at the Moira Kelly Creating Hope Foundation why business is so important to Australia and the economy Backbone is proudly brought to you by Sequel CFO and Judo Bank.

Listen to David as he interviews Ben Thomson, the Founder and CEO of Employment Hero, as they discuss about how they raised $22 million and how they are on a mission to reduce the number of wage scandals. The cover: Why we are partnering with Employment Hero. What they are going to spend their $22 million on. The journey to becoming a hero in payroll scandals and how to become a great employer. Taking on the mental health of the members and how Employment Hero help with this. From making mistakes to running a tech business and how Ben built a massive company. The fundamental source of the big scandals. Finally, Ben talks about how they provide value to their clients. Head to www.employmenthero.com/ftt to find out how they can help your clients. About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

On the back of a tweet from a self confessed (USA) thought Leader who is just flogging software. Paul asked, “Should small businesses start with a review of the tech available or start with their own processes and how to improve it which might include software?” David Use swimlanes to map processes I use asana for my processes, for example we have a month end system for a client that covers what checks need to be done on automated data dumps, how to check manual journal calcs, what info we need from different people and asana is system used to CONTROL the process Balance what you need with what tech can do. Paul 3 tips for the Process vs Systems dilema: Technology Must Start with Streamlined Processes Solve a Problem. Don’t Just use a New System Process Mapping For more check out Freedom Mentoring About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Best on Ground This Excel feature is amazing. Take a photo and upload it straight top Excel.  https://support.office.com/en-us/article/insert-data-from-picture-3c1bb58d-2c59-4bc0-b04a-a671a6868fd7 ABS has an app. For those stats nerds out there, this is awesome. Has key economic indicators and also 2016 Census info on postcodes, etc. You can also customise your own Key Indicators.  https://twitter.com/ABSStats/status/1153514839249170433?s=20 A linked in profile description that makes the complex simple. https://www.linkedin.com/in/arfitzgerald/ After years of banks spinning their performance to us ANZ’s brilliant new add shows the spin small business owners use to appear successful.  https://twitter.com/ANZ_AU/status/1131340918810976256 Worst on Ground BREAKING | National Australia Bank was today forced to admit an embarrassing breach of 13,000 customers’ personal data, including contact details and driver’s licence numbers .  https://www.theaustralian.com.au/business/financial-services/national-australia-bank-admits-to-data-breach-13000-customers-affected/news-story/d690644976567e6f645022c5ebabd114 ACCC’s 23 recommendations to take on the large digital businesses. Could get ugly. Interesting take on journalism suffering.  https://www.accc.gov.au/media-release/holistic-dynamic-reforms-needed-to-address-dominance-of-digital-platforms David had to open a bank account and it took 45 minutes. Should it? Hear the story in this weeks episode. About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

This week, Paul and David explore the concept of the Hybrid Professional, as outlined in this TEDx talk by Sarabeth Berk, and its application to the accounting profession. About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Best on Ground ABS Getting in to the social media swing with social engagement on the Rugby State of Origin: https://www.linkedin.com/feed/update/urn:li:activity:6554599885642010625 Lot’s of taxpayers lodging early. Anyone advising to hold off on claiming a refund should be an advisor. Never delay a refund, cash is king. ATO are very clear that future tax legislation will amend the return.   https://www.accountantsdaily.com.au/tax-compliance/13258-lodgments-spike-by-88-per-cent-as-taxpayers-ignore-advice  Tech is lying to you if it says it creates insights. Tech doesn't, you do. https://twitter.com/Paul_BarnesACCA/status/1149017223928963072?s=19 Can accounting solve issues in Indigenous communities?  https://twitter.com/IndigenousIAA/status/1147759367288045568?s=19 Can you save money buying a jet instead of flying Qantas? For the staff perk, who cares! https://www.linkedin.com/feed/update/urn:li:ugcPost:6555566884006227968/  Paul’s BGL webinar on the Modern Compliance Advisory Firm. Massive turnout. Over 500 registrations. Compliance is certainly not dead. Worst on Ground ATO Changing definition of Taxi: @Uber says it's disappointed with the outcome, but is working with @ato_gov_au to address the "inconsistency" in the law whereby Uber is the same as a taxi when it comes to having to pay GST, but not when it comes to getting FBT exemption https://www.abc.net.au/news/2019-07-08/no-tax-breaks-for-employers-using-uber/11283184 Hilarious satire on business books https://www.smartcompany.com.au/people-human-resources/professional-development/business-self-help-books-fck-off/ Records fall as this tweet packs more jargon from a motivational speaker than the avge sales email to an accountant https://twitter.com/GrantCardone/status/1149830800717877248?s=19 About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Listen to David and Paul as they interview Joseph Healy from Judo Bank, LIVE at the SOFY Party, as they discuss about the banking industry, the economy and Judo Bank. The cover: Bank controversies and where banks have missed out the needs of the small and medium sized businesses How major banks are so focused on their profit maximisation and have made a huge mistake when they lost sight of their social license.  The uniqueness of Judo Bank where the major banks have fallen off One of Joseph's major regrets in agreeing to outsource financial analysis to India at NAB where it dropped banks costs to 30% but also reduced the quality as well. Judo Bank's first actual operating day and how they compete with the big major banks. Finally, Joseph responds to some crowd queries regarding the banking industry. About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant.

Best on Ground Get clients who rave about you like Gabi Leibowitz. Post 200m sale https://www.linkedin.com/feed/update/urn:li:activity:6550704110189010944/ Fan fashion Paul’s webinar with BGL. The Modern Compliance firm: https://www.bglcorp.com/event/the-modern-compliance-advisory-firm/ If H&R Block can go paperless, why can’t you https://www.accountantsdaily.com.au/business/13227-h-r-block-cuts-out-paper-ahead-of-tax-time-2019  Worst on Ground Accountants boasting about revenue. The economy Labour party changing the name of a tax bill is the height of pettiness. https://www.linkedin.com/feed/update/urn:li:activity:6551990734134882304 In Depth: David and Paul reflect on their 2018 resolutions and share their predictions for the year to come.  About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL and The Outsourced Accountant. 

1. How this business grew with loans from family, friends and fools. Interview with Andrei Dolnikov, Founder and CEO of Binyan Studio Do you choose to get a job or choose to chase a dream strait out of University? As soon as this business owner knew he could win work he set out to build a world leading 3D rendering and architectural design studio that now spans 4 cities, 2 countries and over 100 staff. His growth story is natural, his people management challenges relatable and has a clear message. You have to choose to grow. 2. Why the banks let you down Interview with Frank Versace, Co-Founder and Managing Director of Judo Bank. Want to finally have a positive business banking experience? That’s what Judo Bank, Australia’s newest full service business bank is offering business owners. 3. The New Business Paradigm: Volatility, Uncertainty, Complexity, Ambiguity Interview with Trey Zagante, Founder and Managing Partner of Venturetec. This segment is brought to you by YBF Ventures. Business is changing faster than ever. Trey Zagante helps big business innovate and manage a VUCA environment. He has some great advice for small and medium businesses. About Us The Financial Mentor is brought to you by Sequel CFO. Sequel CFO is a franchise network of highly experienced CFOs who offer their expertise and insights to small to medium sized enterprises (SMEs). Our goal is to empower SMEs to make considered decisions using fact based information, which will improve the financial health of their business.See omnystudio.com/listener for privacy information.

This week, Emma Tibbals, joins Paul and David for a hearty conversation on freedom and what that means. Emma is currently studying her Bachelor of Commerce, majoring in Accounting at Monash University and a Student Representative for CAANZ. Hear an emerging accountant's views on gender diversity, what freedom means and the threat posed by STEM jobs. Best on Ground Great practical content for small business Vanessa Bamford: http://www.vbbusiness.com.au/work-smarter-not-harder-calculating-break-even-point/ Great breakdown comparing the 3 Accounting professional bodies by Amanda Loves to Audit - https://youtu.be/6Qg39Zo6sZk Workflow automation explained – top 5 tips from the experts - https://www.charteredaccountantsanz.com/about-us/ca-catalyst/insights-and-guides/workflow-automation-explained-top-5-tips-from-the-experts Accounting Web SWAG review https://twitter.com/AWebTom/status/1124319489611456513   Worst on Ground CAANZ Vote - https://www.linkedin.com/pulse/chartered-accountants-australia-new-zealand-member-vote-con-abbott Do you need to be qualified: https://twitter.com/brettnealcpa/status/1119602270138585088?s=21 More Franchising issues: https://www.theage.com.au/business/workplace/bubble-bursts-for-tea-chain-giant-chatime-over-underpayment-20190424-p51gt0.html?btis Super ‘’Battle of the Sexes’’ clickbaits https://www.superguide.com.au/comparing-super-funds/gender-gap-super-boards-large-funds-perform-poorly Indepth: Freedom - with special guest, Emma Tibbals About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

Paul sat down with Ron Lesh from BGL to cut through the noise surrounding the election.  They cover: Bill Shorten's accountants rort comments Franking Credits Negative gearing Capitals Gains What should the industry do? About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

Best on Ground Cocky tax startups - https://www.linkedin.com/pulse/think-your-2018-tax-season-tough-check-out-visors-attempt-david-leary Vale Henry Bloch (H&R Block founder) - https://amp.usatoday.com/amp/3555032002 When important messages can’t get heard https://twitter.com/horizonaccount/status/1116306674178879489?s=19 What the marketers got wrong https://generationcfo.com/2019/04/17/automation-redundancy-is-fake-news-heres-why-part-one/   Worst on Ground Someone who wants to be Federal Treasurer caught miscalculating franking credits: https://twitter.com/paulmeissner_/status/1119169867209306112?s=21 Pilot bookkeeping raises $40m. Why? If it’s a tech play, they are building Receipt Bank again and playing catch up with others. If it’s a services play, then anyone raising for services businesses is an idiot. https://techcrunch.com/2019/04/18/index-ventures-stripe-back-bookkeeping-service-pilot-with-40m/amp/ Will tech really overtake this firm and what have we seen in the past that might indicate the future: https://futurefirm.co/will-accounting-tech-startups-overtake-your-firm/   I’ll never get tired of weird deductions https://www.accountantsdaily.com.au/tax-compliance/12889-tax-agent-claims-family-pet-as-guard-dog-gets-booted-by-tpb   Indepth: How to fix conferences (and what’s wrong with them) About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

This week, Paul sat down with Robyn Jacobson, Senior Tax Trainer at Tax Banter, FCA, FCPA, CTA, tax agent, blogger and podcast host at Tax Yak. She's also involved in advocacy and sits on a number of committees. The chat about: How training has changed with new technologies Why face to face training hasn't replaced How to apply legislative changes to real life business cases Using the structure of policy development to your advantage Top 6 tips for micro firms to keep up with the changes in tax About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

Best on Ground Bold News from MYOB on Payments Advisory - https://www.myob.com/au/blog/bold-strategy-payments-accounting-business-expo/  Life as a Xero Community Manager - https://cloudaccountant.today/2019/03/29/life-as-a-xero-community-manager/   Great discussions happening between accountants and Judo Capital at the Water Cooler Lunch Series Worst on Ground Are your small business clients ready for STP? 1 in 10 say no: https://www.accountantsdaily.com.au/tax-compliance/12841-netflix-but-not-stp-1-in-10-small-biz-stp-ready Out of the US, Congress is considering a bipartisan bill that would make it illegal for the IRS to offer free electronic tax filing - https://www.bloomberg.com/news/videos/2019-04-16/congress-considers-free-online-tax-filing-ban-video Bill Shorten's comments regarding 'accountants tax rort', CAANZ nailed the response: https://www.charteredaccountantsanz.com/news-and-analysis/media-centre/press-releases/chartered-accountants-set-record-straight-after-opposition-leaders-abc-interview  Indepth: Three outcomes we want to see from the upcoming election We lay out our wish list for the upcoming election for the accounting space, whether there is a change in government or not.  About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

Accountants have a seat in the boardrooms of Australia's most powerful companies, and they're a huge chunk of, and a trusted adviser to, the SME community. As a profession, accountants are among the most influential in the country. At a time when accountants and tax are an election issue, it's more important than ever to have your voice heard. Both the Prime Minister and the Opposition Leader are locking horns over the deductibility of tax agent's fees. Without both sides of government correctly understanding the nature of what accountants do, detrimental policy could get over the line. How do you have your say? Sequel CFO founder and managing director David Boyar - a thought leader finalist in this year's Australian Accounting Awards - and editor of Accountants Daily Katarina Taurian talk through how you can influence the future of your profession.

Season Overview: Financial Basics 101 Episode Focus: Cash Flow v Profit 'How To' with David Boyar Get back to basics with these crucial accounting concepts “I’m making all this profit, where’s my cash?” – How do different drivers in your business impact your cash flow? What’s your strategy? Cash is king isn’t always the answer. How to know when to reinvest in your business, or when to keep the cash on hand. How to utilise technology and software in your business to create the most value. Using ‘attack’ and ‘defence’ positions to keep your business on top and maximise profitability and cashflow Find out at what stage of the business cycle you should turn your attention from cash to profit. Find out what happens when your overtrade or grow to fast. Read about the failure of Appster with this inside interview from their CFO. Why is it socially acceptable to talk about ‘cash flow problems’ in your business, but much harder to discuss a ‘profit problem’? Understand the drivers in your business so that you can plan forward with confidence. Tech in Your Business: With Keran McKenzie Thank you to Keran, from The Futurist Project, for joining us this season to talk about how to use tech to maximise value in your business. Tools to increase profitability and cash flow at the same time Decrease debtor days with these easy to execute strategies or try third party apps or add ons, like ezyCollect or SimplyPay Automate your debt collection process from within your cloud accounting platform with Debtor Daddy, ezyCollect or IODM How to reserve your business’ talent where it is needed most, instead of on costly, repetitive tasks How Hexaware enabled a huge reduction in employee overheads The Pitch: Piccard AI Thanks to Timothy Kallady, from piccard.ai for The Pitch. This segment is brought to you by YBF Ventures. How piccard.ai helps businesses by using predictive technologies The business case for using these technology to reduce overheads How they’ve brought new technologies, like AI and machine learning, to the market About Us The Financial Mentor is brought to you by Sequel CFO. Sequel CFO is a franchise network of highly experienced CFOs who offer their expertise and insights to small to medium sized enterprises (SMEs). Our goal is to empower SMEs to make considered decisions using fact based information, which will improve the financial health of their business. To book your free Discovery Session with an experienced CFO, head to www.sequelcfo.com/dealSee omnystudio.com/listener for privacy information.

Paul sat with Angus Capel, Xero Small Business Advocate and former adviser to Federal Small Business Ministers, Michael McCormack and Craig Laundy, to get an inside look at how the Federal Budget gets put together.  They talk about: what was the thinking behind moving the small business definition from $2m to $10m thoughts on the 2019 budget the process of how a small business initiative gets in to the budget how does the budget play out in terms of an upcoming election what does the budget look like if we end up with a minority government About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

Best on Ground Patti & Scott Scharf - Great catch up. Amazing how small the world of accounting is and how the conversations about advisory, technology, pricing, etc are far different to a lot of the general conversations out there, especially by salespeople. Compliance is far from dead in the USA: Sales Tax https://www.avataxrates.com/ Reading is good for your brain, listening about reading isn’t as much https://twitter.com/damonayoung/status/1114797728502935552?s=19 Sustainable Growth Vs Scaling = Great to see a big tech company having a realistic conversation https://quickbooks.intuit.com/r/uncategorized/why-its-time-to-stop-thinking-about-scaling/amp/?__twitter_impression=true RBXxchange - the explosive bookkeeper v accountant conversation that ended in a very productive chat with ATT Director Cassandra Scott.   Worst on Ground Fathom's response to Goal Seek Analysis: https://support.fathomhq.com/using-the-analysis-tools/goalseek-analysis Accountants Daily article on the IGT report: https://www.accountantsdaily.com.au/business/12875-igt-heralds-accountants-business-model-change More awareness of flexible work conditions done badly. https://www.theage.com.au/lifestyle/life-and-relationships/a-full-time-role-in-part-time-hours-the-truth-about-flexible-work-20190405-p51b88.html Indepth: Being Present - The victim of the work from anywhere culture Work life balance used to be about the amount of time you spent at work. But with more and more people not really having an ‘’at work’’ mode or place, work is kind of everywhere all the time. This puts pressure on being present. Now Australia overall doesn't have it that bad, according to the OECD better life index, we rank 30/38 countries for working "very long hours" (50 or more) with just 13.8% of us doing so and the trend is down .2% since 2005. What impact does this have on: you, your family, staff and clients? This was an issue raised in an earlier FTT episode where we were joined by both Paul and David's FCA fathers - how does this new generation deal with being 'aways on'? About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

A Budget piece outside the budget news cycle? How dare we! But that is just the point of accountants. We care about the budget even when it doesn't give us clicks.  With David and Paul sitting on the Xero budget panel and live tweeting the event of the year (we believe that) this show is non stop action. Best On Ground  A well balanced piece on how to get ready for the future of work https://www.forbes.com/sites/jeffthomson/2018/09/26/automation-organizational-readiness-and-the-need-for-new-skills/amp/?__twitter_impression=true Worst on Ground Hubdoc and Fathom produced a ''you have to do advisory'' article that missed the mark by so much, they edited it after Paul politely brought it to their attention on Twitter.  http://go.hubdoc.com/hubfs/Road-to-Advisory/Pre-Advisory-Checklist-Hubdoc-Fathom.pdf  About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

Water Cooler Lunch Series Request your seat to join David and Judo at one of our Melbourne lunches and learn about expanding your network of professionals to include CFO advisers (yes, Sequel CFO works with accountants) and new bank lenders.    Interview with Joseph Healy With so much attention on the banking sector both David and Paul are sure that new entrants are going to have an impact. One such entrant is Judo Capital who is going to be able to compete at similar debt pricing to traditional SME lending banks.  David tracked down Judo Capital's co-founder and joint CEO Joseph Healy for a wide ranging interview.  The highlight of course, is his envy that bankers don't have the trusted relationship us accountants have with clients. About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL.   

This week, David is coming straight to you from Accounting Business Expo. He's joined by the biggest and brightest leaders propelling our industry forward for an epic panel discussion. We are joined by: Andrew Van De Beek - 2018 Thought Leader of the Year Lielette Calleja - 2017 Au Firm of the Future Winner and AAT Director Heather Smith - Literally wrote the book on Xero, Cloud App master mentor and cloud newsletter author Steph Hinds - One of the first 100% cloud accountants who rivals Paul Meissner for strait talking  Ron Lesh - The founder of BGL, the tech company who has survived more change than most (and shares amazing insight as an exhibitor at ABE)  And a special cameo appearance by Sam Rotberg - a recent social media superstar (listen to find out more) NOTE: Paul couldn't get to Accounting Business Expo but don't worry, he comes up often in this episode!   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

Best on Ground  Philadelphia bans cashless stores  Anthony Pratt's best on social media Qantas CEO, Alan Joyce, responds to 10 year old boy's handwritten letter  Young kids starting businesses Resurrecting the Dead Horse Theory Worst on Ground  Shoes of Prey went in to liquidation - when you listen to your customer, but your customer doesn't actually know what they want. Australia's Super funds legacy systems run on spare parts from eBay, 1950s programs 'Overnight success is a farce': Aussie founder sells startup last valued at $25.4m to American Express The battle for work/life balance is lost. The war for device/non-device balance has just begun.  Kmart employees forced to join industry super fund Select Committee into Fair Dinkum Power Challenger bank, Countingup, launches invoicing from their smartphone app Indepth: You don't HAVE to do advisory. Something grinds our gears. And that something is:    Generic conversations about accountants having to do advisory, from people who've never done it.    It comes from this idea that because advanced use of technology means that it takes a lower amount of time to do traditional compliance work. It stems from a line Xero used to tout, 'Compliance is dead, you have to do advisory'.    What's wrong with the way advisory is being spoken about?   About Us From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

Delighted to have had Lance Rubin as my guest on the latest in the series of "James Perry Presents" Lance, a South African now based in Australia, has a wealth of financial modelling experience across financial and professional services having worked at two of the Big 4 accounting firms (PwC & KPMG), Investec Bank Corporate Finance & Advisory and the National Australia Bank across both retail and wholesale banking products. He is founder of Model Citizn, Partner with "The Outperformer", Group CFO for Sequel CFO (a financial mentoring and bookkeeping service for small business) and the CFO of Fintech lender Banjo As an influencer in how to enable steps change in your career, Lance can demonstrate how he was able to do this across 20 years of corporate experience. He is also an expert in Innovation, Disruption and Artificial Intelligence in the Financial Modeling space. Lance is also a proud father, husband & martial artist! We chatted about background, how to embrace disruption in this global economy among other things, and having a bit of craic too! Loved this hugely interesting conversation!

We speak with David Boyer who is the founder and Chief Executive Officer of Sequel CFO. Enthusiastic podcast devotees may recognise David as one of the two presenters in the "From the Trenches" podcast - a lively, entertaining and very informative bugle on the Australian accounting profession. David is a self described "Proud CA" & has worked in public practice, banking, IT and consulting. These days David focuses his attention on the external CFO area exclusively, in some interesting ways, as we hear on the podcast. RESOURCES & LINKS MENTIONED From The Trenches Podcast www.fromthetrenches.com.au Contact details for David Boyar david@sequelvcfo.com.au www.sequelvcfo.com.au Contact details for Scott Charlton scott@slipstreamcoaching.com.au www.slipstreamcoaching.com.au Virtual CFO Association www.vcfoassociation.com.au

On this XY Live on Facebook Live session, we have Adrian Patty and Ben Nash to talk to David Boyer from Sequal CFO and the From the Trenches podcast. In 2014, he established Sequel CFO subsequent to seeing an excessive number of SME organizations neglect to increase financial control and perceivability from their internal accounting function. He'll be explaining how to engage for a profitable relationship with accountants, explore the challenges, find opportunities and share insights and tips on how to go about it.