Budgets, Books, & Balance Sheets: An Accounting & Finance Podcast

As an accounting firm, you know that leadership is crucial for driving business performance and building a strong and collaborative work environment. You need effective leaders with a range of skills that combine interpersonal communication, emotional intelligence, and a tech-savvy mindset. But what kind of leadership style works best for accounting firms? And how can you develop your own leadersh...

As an accounting firm, you’re probably busy helping your clients manage their finances, but are you paying enough attention to your own? While traditional financial statements are important, they don’t tell you everything you need to know about your firm’s performance. You also need to track other metrics that can help you evaluate your financial health and overall performance. These metrics are c...

Did you know that 72% of accounting firms say that technology is the most important factor for their success in the next five years? Or that 83% of accounting firms say that they need to invest more in technology to stay competitive? Hi there and welcome to another episode of Budgets, Books, & Balance Sheets, the podcast where we talk about all things accounting. I’m your host, Kevin Mitchell....

As you may know, the accounting industry is undergoing a significant transformation, as firms recognize the importance of creating a more diverse and inclusive workplace. Clients and customers are increasingly demanding that their service providers reflect the communities they serve and bring a range of perspectives and experiences to the table. But how are accounting firms doing when it comes to...

As the demand for skilled accountants is on the rise, understanding the current state of the industry and future prospects for accounting professionals becomes critical. To provide a well-rounded perspective, today, we'll be scrutinizing the accounting salaries offered by the Big 4 firms, which are often used as a benchmark for accounting positions. So, let's unravel the enigma of accounti...

Now, when we talk about management accounting methods, we're of course referring to the techniques and strategies businesses use to make knowledgeable decisions about their operations, finances, and strategies. Some of the commonly used methods include cost accounting, budgeting, variance analysis, activity-based costing, the balanced scorecard, and value chain analysis. In contrast, managemen...

If you're just starting out in the world of accounting, this episode is for you. Today, we're looking at the three main entry-level accounting roles that are key stepping stones into this industry.  So, how do you start your journey into the accounting industry? Let me tell you that entry-level accounting jobs are a terrific stepping stone, especially if you're still studying for your...

Why is communication important for accounting firms? The answer is simple yet powerful. Accounting professionals deal with complex financial information that can significantly influence their clients' business decisions. Clients entrust accountants with sensitive financial data, exposing their business decisions, for better or worse. Just imagine the detrimental impact a misunderstood piece of...

In this episode, we'll explore the importance of cultural fit in accounting staffing and provide you with actionable tips and best practices for assessing cultural fit during the hiring process. We'll also discuss how remote work can impact cultural fit and why choosing the right country to hire from can save you more than one headache. 

In this episode of "Budgets, Books, & Balance Sheets," the rising trend of digital nomads and its impact on the traditionally conservative accounting industry are discussed. The increased productivity, improved work-life balance, and cost-saving benefits of remote work are highlighted, along with the challenge of navigating different tax and labor laws in a global workspace. The epis...

In this episode of "Budgets, Books, & Balance Sheets," we explore the advantages and challenges of hiring remote accounting professionals from South America. With the rise of remote work and the benefits of international talent, such as cost savings and diverse skills, the accounting industry is increasingly focusing on South America. However, hiring across borders requires careful c...

In this episode of "Budgets, Books, & Balance Sheets," we tackle the hot topic of remote work in the accounting industry, especially in the wake of COVID-19. We ponder whether your accounting firm is truly prepared for remote work, not just in terms of technology but also mindset, culture, and infrastructure. A comprehensive self-assessment tool is introduced, discussing various aspe...

In this episode of "Budgets, Books, & Balance Sheets," we dive into why South American hiring is a trend among North American companies. It looks at the cost-effectiveness, rich talent pool, and cultural compatibility of South America. The show also acknowledges challenges such as language barriers, legalities, and time zone differences but reassures that these can be managed. It giv...

In this episode of "Budgets, Books, & Balance Sheets," outdated accounting practices are put under the spotlight. The episode explores the need to transition from paper to digital systems for efficiency and flexibility, and the importance of embracing remote work for productivity. The value of diversity in the workplace is also discussed, along with the need to offer more than just c...

In this enlightening episode of "Budgets, Books, & Balance Sheets," host Kevin Mitchell tackles the challenges and strategies of managing outsourced or remote accounting teams. As global workforces become increasingly common, Kevin explores how to effectively set expectations, provide comprehensive training, and establish efficient communication. This episode sheds light on how to ma...

In this episode of "Budgets, Books, & Balance Sheets", host Kevin Mitchell takes a deep dive into the trending topic of Flexible Work Schedules. He explores how technology has enabled the transition from traditional 9-to-5 jobs to flexible work arrangements, especially in the accounting industry. Kevin begins by highlighting the shift in work paradigms, explaining how work-by-objecti...

In this enlightening episode of “Budgets, Books, & Balance Sheets”, host Kevin Mitchell addresses an important shift that every modern accounting firm should consider: going paperless. The transition to a digital office environment is about more than just implementing new software; it represents a fundamental shift in office culture. Kevin explores the numerous benefits of this shift, includin...

In this engaging episode of "Budgets, Books, & Balance Sheets," host Kevin Mitchell explores a topic that's increasingly gaining relevance in the modern workspace — the impact of office layouts on company culture and teamwork. Kevin discusses how the traditional perceptions of office space are changing, transitioning from the old-school cubicle-based environment to the open and c...

In this riveting episode of "Budgets, Books, & Balance Sheets", host Kevin Mitchell delves into the economic tribulations of the post-COVID world and how businesses are innovatively navigating these turbulent times. Kevin turns the spotlight on outsourcing as a potentially game-changing strategy to cut costs and maintain operations, with a particular focus on South America. The episo...

In this episode of "Budgets, Books, & Balance Sheets," host Kevin Mitchell delves into a topic that is gaining significant importance in our industry - fostering the health and productivity of remote accounting teams. With an increase in remote work, it's vital for firms to cultivate strategies that ensure a seamless collaboration and the well-being of their remote teams. From th...

Dive deep into the complexities of accounting automation in this enlightening episode of "Budgets, Books, & Balance Sheets". Host Kevin Mitchell explores why understanding workflows is crucial for today's accountants, and how automation can effectively enhance efficiency and accuracy when correctly implemented. Discover the potential risks of improper automation and how to avoid...

Welcome to a very special episode of "Budgets, Books, & Balance Sheets" with your host, Kevin Mitchell. Today, we're diving headfirst into the rapid currents of change as we explore the journey "From Traditional to Modern: New Accounting Practices". If you're an accountant or a business owner juggling your own finances, you're no stranger to the constant evoluti...

Welcome to the newest episode of "Budgets, Books, & Balance Sheets," where your host, Kevin Mitchell, tackles the age-old debate: "Could that meeting have been an email?" As the prevalence of remote work soars, so do the number of meetings, much to the exasperation of many. But are these meetings detrimental to your accounting firm's remote culture? In this episode, Kev...

In this episode of "Budgets, Books, & Balance Sheets," Kevin Mitchell dives into the different types of personalities you might bump into at an accounting firm. We're talking about people you work with every day, and how to get along with them better. First off, Kevin talks about the "Gatekeeper." This is the person who knows all the rules and makes sure everyone sticks...

To begin, let's take a moment to understand what micromanagement is. At its core, micromanagement involves excessive control and supervision over employees' work. Picture a boss who's always breathing down your neck, peeking over your shoulder at every single thing you do. They're not just asking for updates on big milestones, they're getting into the nitty-gritty of your every...