Wrong Metrics, Wrong Conclusions

2021 is coming to a close, but we’ve still got a lot to talk about. Blake recounts his trip to the Digital CPA conference, and takeaways from the keynotes he may or may not have attended, including the call to end the IT department, as we know it. We’ll talk about why CAS is where it’s at, why you might be underpricing your CAS, how the wrong metrics can lead to the wrong conclusions, and how much work is too much. We’ve also got some thoughts on Ed Mendlowitz’s ”Art of Accounting: Timesheet dispute redux,” 2021 Zoom trends, and some great feedback from listener, Cathy Volk on personal responsibility, and why she doesn’t see QuickBooks Desktop use declining. In app news, we’ve got funding raises, updates from Oracle, news on FreshBooks, TaxDome, Kabbage, and two surveys from QuickBooks. Grab your gift-wrapping supplies, a tasty beverage, and join us!

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Show Notes

00:52 – Blake’s got a new Mac!
02:27 – David’s Bank-Feed Debacle
05:58 – The Threshold of Hell  – Watching National Lampoon’s Christmas Vacation?
06:57 – Blake's Takeaways from Almost Inside Digital CPA
08:46 – It’s Time to Get Rid of the IT Department              
15:33 – The AICPA's Melancon: ‘The profession that constantly reinvents itself’ | Accounting Today
19:35 – Accounting 4.0: Don’t become Blockbuster Video
22:45 – Are You Under-Pricing Your Client Accounting Services? - CPA Trendlines
29:49 – Voices Art of Accounting: Timesheet dispute redux | Accounting Today
30:35 – A Timesheet Debate & Why Work Takes So Long
33:05 – Blake’s Timesheet Use Case
35:35 – What Is a “Reasonable” Number of Work Hours? - CPA Trendlines
38:39 – New QuickBooks research reveals the impact of late payments on mid-sized businesses
44:08 – Majority of Mid-Sized Businesses Outgrow Technology or Overpay for Unused Features
46:00 – Here’s How You Zoomed Over the Past Year - Zoom Blog
51:07 – H&R Block names Xero a preferred solution provider
51:22 – Twitter comment from Zachary Owen, re: H&R Block
52:37 – Canopy raises $35M in latest funding round | Accounting Today
Canopy’s Accounting Practice Revolution Receives $35M Injection
53:51 – Intuit QuickBooks Canada and Dataswitcher join forces to automate conversion to a cloud-based accounting solution
54:22 – Oracle Gains After Sales Top Estimates on Cloud Performance
54:48 – FreshBooks, Sensibill Bolster Small Business Expense Management
54:58 – Kabbage® from American Express Launches Kabbage Funding™ to Help Simplify Funding for U.S. Small Businesses
55:35 – CPA funding portal expands with loan-financing option for small biz clients | Accounting Today
57:29 – Facebook Message from Cathy Volk – Thank you!

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Wrong Metrics, Wrong Conclusions
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