Accountor CPA’s Post

The announcement of an upcoming sequel to 2015's "The Accountant" brings back memories of a CPA event I attended right after finishing my studies. Real party atmosphere, let me tell you! Picture this: a room full of accountants buzzing with excitement - not about tax regulations or audit procedures - but about Ben Affleck playing one of us on the big screen! Why such enthusiasm? While our legal colleagues down the hall regularly see themselves portrayed in glamorous TV shows and blockbuster films, us CPAs? We're typically cast as the bland supporting characters - if we appear at all. So here was Hollywood, with an A-list star, in a film actually called "The Accountant"! Of course, they had to add assassins and mob connections to spice things up (because apparently, GAAP standards aren't thrilling enough). But here's the real takeaway: While your CPA may or may not be a secret hitman, we do have our own superpower - the ability to uncover crucial insights in your financials that can transform your business. Dramatic plot twists are optional.

Lights, camera, action! While the glitz and glamour of Hollywood often showcase larger-than-life heroes and heart-pounding adventures, there's one profession that doesn't always take center stage: accounting. Yet, amidst the explosions and romance, there are a few films that dare to shine a spotlight on the world of number-crunching and financial intrigue. One of these movies is "The Accountant". In this action-packed thriller, Ben Affleck takes on the role of Christian Wolff, a forensic accountant with a mysterious past and exceptional skills. Wolff's talent for uncovering financial discrepancies leads him down a dangerous path, where he must navigate criminal organizations and confront his demons. "The Accountant" challenges stereotypes by presenting an accountant as a dynamic protagonist with extraordinary abilities. This portrayal highlights the diverse skill sets and problem-solving capabilities that accountants possess, showcasing them as more than just number-crunchers. The film also underscores the importance of integrity and ethics in the accounting profession, as the protagonist grapples with moral dilemmas and seeks redemption for past actions. The film goes beyond the surface-level portrayal of accountants as mere bean counters, offering nuanced insights into the complexities of the profession. So, the next time you watch a movie featuring an accountant, take a moment to consider the deeper themes and insights it offers about the profession. You may find that there's more to accounting than meets the eye and that the skills and principles it embodies are truly worthy of the silver screen. Cheers to all the Accountants 🥂 🥂 . Cheers to a fabulous week. #BookkeepingandAccounting #AccountingAdventures

There’s a popular TV comedy series called, “What We Do In the Shadows.” Hilarity ensues as you get to be a fly on the wall of a small Staten Island residence that is home to four vampires that have lived there for over a century. While peeking in on some unruly vampires and their shenanigans in a modern world is quite funny, it’s no joke how much of a productivity suck shadow accounting can be on your sales team. When they don’t have the transparency they need to trust their compensation is timely and accurate, it can have a negative impact on performance. Discover how to bite this productivity drain off at the source in the blog, “What Is Shadow Accounting in Sales & Why Is It a Problem?” https://hubs.ly/Q02LnNgx0 #ShadowAccounting #ICM #SalesComp

Trick or Cheat! Scariest movies for accountants! Michael Myers. Jason Voorhees. Freddy Krueger. Pennywise, the Clown... These characters don't scare accountants (well, Pennywise scares me). Accountants are scared of characters like Kenneth Lay, Bernie Madoff, Gordan Gekko, Frank Abagnale Jr., and other corrupt executives who (usually via collaboration) fold to corrupt practices, symbolize unethical behaviors, commit financial statement fraud, or disregard the law. Here are 10 films that might put the heebie-jeebies into a CPA! - The Big Short - Wall Street - Enron: The Smartest Guys in the Room - The Wolf of Wall Street - The Wizard of Lies - Boiler Room - Glengarry Glen Ross - Funny Money - Inside Job - The Accountant Happy Halloween!!! What movies scare you?? #CPA #publicaccounting #accountant #theCPAcoach #scarymovies #fraud #coach

Once upon a time, I had a client who approached me in desperate need of understanding their books after their former bookkeeper had committed fraud. My task was not only to uncover evidence of the fraud for an upcoming trial but also to help them regain financial stability. They would substantially increase my cash flow, which made me eager to work with them. However, I soon encountered a series of challenges. Instead of one person making final financial decisions, I found myself reporting to several board members in frequent one-on-one meetings. Each board member had different projects in mind, making my workload hectic. Nevertheless, my strong work ethic drove me to deliver the best possible service to this client, and I ended up learning a lot from the experience. After a year, it became evident that the board of directors would settle for nothing less than an in-house accounting team. When I reviewed my expense report after that year, I realized my profit margins were below expectations. Rather than increasing profit, I was only boosting cash flow. As a business owner, I prefer my earnings to remain as profit that I can reinvest and expand at my discretion. Ultimately, despite their substantial payments, this client was negatively impacting my business's net profit, and I knew something had to change. I assisted them in transitioning to hiring an in-house accounting team and stayed on as an external consultant to ensure no fraudulent behavior recurred. Additionally, I educated them on ethical guidelines to safeguard their company. If this story resonates with you, it may indicate a profit issue in your business. Fortunately, my Profit First coaching program currently has two openings for new clients looking to significantly boost their profitability. Don’t hesitate—reach out for a Discovery call today and discover how you can dramatically improve your bottom line. #coaching #profitfirst #systemsforsuccess #provisors #sj4

Accountants in Pop Culture: Myths, Realities, and Stereotypes - Accounting ARC: From "The Office" to "Parks and Recreation," listen in on how TV and movies shape our view of accountants. Accounting ARC With Liz Mason, Byron Patrick, and Donny Shimamoto Center for Accounting Transformation Accountants are often depicted in popular culture in ways that range from humorous to downright exaggerated. In a recent episode of ARC, hosts Liz Mason, CPA; Byron Patrick, CPA.CITP, CGMA; and Donny Shimamoto, CPA.CITP, CGMA, delve into these portrayals, discussing their favorite fictional accountants and the stereotypes that come with them. EPISODE NOTES here http://dlvr.it/TBdsSk

💡Founders, Think Beyond Compliance When Hiring Professionals💡 Compliance should be viewed not merely as a task to file returns or meet regulatory requirements, it’s about leveraging compliance as a strategic advantage. To truly thrive, you need professionals who go beyond routine filings. These experts should provide insightful financial guidance, deliver regular reporting on your business’s health, and help craft a robust financial strategy that drives sustainable growth. Without this level of expertise and foresight, staying ahead in the competitive race for success becomes a significant challenge. Founders are often uninformed about their financial landscape, many are unfamiliar with critical areas such as financial planning, taxation, expense management, and cash flow forecasting. Without a solid understanding or the right guidance, they often miss opportunities for growth and find themselves struggling. We often encounter three types of founders: 1) Confused Founders - These founders lack clear guidance and often miss crucial steps in their compliance journey, leading to delays, errors, and missed deadlines 2) Overcommitted Founders - These founders try to manage everything themselves—handling compliance, accounting, and audits—at the cost of their core competencies. This leads to inefficiencies and prevents them from focusing on scaling their business. 3) Negligent Founders -These founders ignore compliance until it’s too late. As a Result * Hefty fines * Issues during funding due diligence * Damaged business reputation What is the Solution for this 1) Hire professionals who not only take over your end-to-end compliance needs (accounting, audits, filings) but also provide valuable inputs and strategic financial guidance. 2) Ensure these professionals offer regular reporting to the management team, so you’re always informed about the financial health of your business. 3)  Let them help you design a financial strategy that aligns with your goals, ensuring sustainable growth and operational efficiency. In today’s environment, it’s essential to have experienced professionals in place for each step of the process, ensuring that compliance is handled properly and consistently. Let them manage the details while you focus on building your startup for long-term success. #StartupGrowth #StrategicCompliance #FinancialStrategy #BusinessGrowth #ProfessionalGuidance

The Finance Team - The Dream Stiflers or the Realists We Need? Have you ever had that love-hate relationship with your finance team? I know I have. Especially in times like these, they’re the ones who bring the hard truths— the worst-case scenarios, the risks, and the numbers that don’t lie. While the rest are focused on growth, possibilities, and dreams, the finance team often feels like the ones saying, “Hold up, what about this?” It can feel like they’re stifling optimism, putting brakes on big ideas, and playing devil’s advocate when all you want is a green light. But here’s the thing: Someone has to do it. In times of uncertainty, having someone in your corner who will challenge assumptions and paint the full picture— good, bad, and ugly—is invaluable. Because while it’s not always what you want to hear, it’s what you need to know. The finance team doesn’t just stop dreams; they ground them. They give you the clarity to see where you really stand and what steps are necessary to make those dreams a reality without losing sight of the risks. So, here’s to the finance teams everywhere— holding the line, being the realists in the room, and ensuring we move forward with our eyes wide open. What’s your experience working with the finance team? Love them? Hate them? A bit of both? #Finance #FinanceTeams #BusinessResilience #DevilsAdvocate #DreamsAndReality #Business #Accounting #Accountants

Accountants in Pop Culture: Myths, Realities, and Stereotypes - Accounting ARC: From "The Office" to "Parks and Recreation," listen in on how TV and movies shape our view of accountants. Accounting ARC With Liz Mason, Byron Patrick, and Donny Shimamoto Center for Accounting Transformation Accountants are often depicted in popular culture in ways that range from humorous to downright exaggerated. In a recent episode of ARC, hosts Liz Mason, CPA; Byron Patrick, CPA.CITP, CGMA; and Donny Shimamoto, CPA.CITP, CGMA, delve into these portrayals, discussing their favorite fictional accountants and the stereotypes that come with them. EPISODE NOTES here http://dlvr.it/TBdsS3

Why do so many people consider accounting boring? It's because we're responsible for the tedious task of recording financial transactions that have already happened. We're also often portrayed as unattractive in most TV shows or movies. Finance, on the other hand, sounds more exciting—they're making deals and speculating on how much money the company will earn. They're generally portrayed as more glamorous, but not any sexier, so don't get it twisted. P.S. Keep banging those books, spreadsheets, and calculators every day, my fellow sexy accountants. With Noble Intent, King John I, House of Trinh.