The Finance & Accounting Show

Why Patience is Key to a Successful Marketing Strategy In this episode, Terrell discusses the importance of patience and consistency in building an effective marketing strategy. He shares a personal analogy of planting a garden to illustrate how growth takes time – similar to developing a solid brand and customer base. Terrell provides insights on how he adapted his marketing efforts during the CO...

In this episode of The Finance and Accounting Show, Terrell A. Turner, CPA shares a candid take on why he doesn't follow the traditional advice of setting strict boundaries in business. Instead, he explains his personal approach—extreme focus—inspired by lessons from his military upbringing. Terrell dives into how this focus-driven mindset helps him manage priorities, protect his time, and st...

In this episode of the Finance and Accounting Show, we dive into a real-world tax fraud case involving Steven T. Mellinger III, who conducted a $106 million fraud scheme over nearly a decade. Learn how the IRS uncovered this massive scam, the mistakes that were made, and the key red flags accountants and firm owners need to watch for. Our AI hosts, Fin and Ally, break down the details and share pr...

Welcome to the Finance and Accounting Show! In the first episode of our weekly 'Tax Tea', we delve into an official IRS press release detailing a dark web drug case involving fentanyl, cryptocurrency, and money laundering. Discover how the IRS Criminal Investigation (IRS-CI) unit played a pivotal role in unraveling this operation by following the money trail. Learn about the methods the...

In this episode, we discuss the top three reasons why businesses fail to successfully implement AI. These reasons are ignorance, fear, and cost. We provide practical examples and solutions for overcoming these challenges, including how AI can improve processes, help with hiring, and enhance marketing strategies. We also address common fears about data security and job loss, and offer insights into...

In this episode, we address why we had to take a 13-month break from our podcast to focus on fixing significant scalability issues in our business. Despite our steady growth, problem-solving demands outpaced our expansion, signaling a critical need for reevaluation. We delve into the areas of staffing, client success, and sales pipeline problems and emphasize the importance of strategic planning t...

In this episode, we delve into the debate between Accounting and Finance that took place at the North Carolina CPA Society Business and Industry Conference. Terrell A. Turner, CPA and Chris Word, CPA discuss the distinct paths and benefits of each field, drawing from their professional experiences. They explore the key highlights of their careers, discuss the hiring roadmap from education to CFO r...

In this episode of the Finance and Accounting Show, we dive into the evolving landscape of accounting and finance. With over 60% of CPAs nearing retirement and new technology changes impacting the industry, we discuss whether finance is becoming more favorable over accounting. Our hosts Terrell A. Turner, CPA and Chris Word, CPA reflect on their experiences over the past five years, emphasizing th...

These 4 questions will help you grow a more successful business. Each week we have the opportunity to share a question of the week and during March, we focused on some of the most critical topics that every firm should consider if they want to grow. Here are the four topics that we discussed 1) Firm Goals, 2) Your Strategic GPS, 3) Your Pricing Strategy, and 4) Your Capacity Analysis. In this epis...

Why are you arguing over pricing? Here is the thing Accounting Firms should never have to argue over pricing when it comes to working with your clients. Now if you do find yourself in a bit of a back-and-forth over pricing this conversation with Arun Mehra could be very helpful for you. Check out our YouTube page for the video version of this podcast: https://www.youtube.com/@thefinanceaccountings...

Feeling stuck with your accounting work? You're not alone. Many accountants and firms are looking for a change. This video cuts straight to the chase, showing you how to get back on track and grow your business in 2024. We'll share a straightforward strategy that helped us move from $350K to aiming for $600K in revenue. It's not magic; it's about making smart decisions, focusin...

Can a business really create a balance between value for the company and value for the staff? In light of mass company layoffs, social media chatter, and several published articles it appears that many organizations are struggling with doing what is right for the business vs doing what is right for their people; but should this really be a conflict? We sat down with a veteran business owner and le...

Why are so many businesses being destroyed by the silent killers? When it comes to starting, growing, or maintaining a mature business, the worst thing that you can do is ignore your risk, because if you do these risks will become the silent killers of your business. Most people tend to think about the obvious risks but the truth is that the most dangerous risks are the ones that most people don&a...

Exploring Unique Insights: Business Lessons from Terrell's Paris Trip Discover Fresh Perspectives: Applying Lessons from Paris to Enhance Your Business Get ready for a distinctive twist in this episode. Terrell has just returned from Paris, and we're excited to share the invaluable business lessons he gained from this experience. Learn how you can implement these insights to elevate your...

Data-Driven vs. Emotion-Driven Business Decisions: Striking the Balance Empower Your Business: Leveraging Data for Informed Decision-Making Are your business choices guided by intuition or data-backed insights? Are you assisting your clients in making choices driven by emotions or data? In this episode, we uncover three essential tools that your business can employ to facilitate prudent data-drive...

Unveiling the Mystery: Tracking Your Business Expenditure Answering the Age-Old Query: "Where is my Money Going?" One of the top queries we frequently address from our clients is, "Where is my Money Going?" The frustration is palpable - putting in substantial effort to generate revenue, only to find minimal cash in the bank at the end of the month. The answer lies in the paramo...

Honesty in Client Services: Unveiling the F*** Strategy Trend Exploring the Impact and Ethics of the F*** Strategy in Accounting and Bookkeeping Are you inadvertently misleading your clients? Lately, the F*** strategy has gained traction among accountants and bookkeepers as a means to expand their service offerings. But is this approach genuinely aligned with your clients' best interests? Sha...

Exploring the Impact of the $22/Hour Minimum Wage Announcement in California Stay Informed: The Latest Job Market News and its Relevance for Businesses The job market has surged into the spotlight, with recent news of California advocating for a $22/hour minimum wage rate. In our ongoing commitment to address the queries in the minds of business owners, we tackle questions like: "What does th...

Learning from Setbacks: Business Insights from Peloton's Revenue Shift Discover Lessons from Peloton's Journey - Record High Revenue to a ~$1.2 Billion Loss @Peloton recently faced a substantial ~$1.2 Billion loss, a significant deviation from their projected forecast. But how does this story relate to you as a business owner? In this episode, we unpack the significance of: Analyzing Cus...

Optimize Customer Relations and Business Revenue with Complimentary Services Ensure Quality Customer Interactions and Boost Revenue Potential Avoid the headache of dealing with mismatched customers. While the saying goes, 'the customer is always right,' they might not always be the best match for your business. Imagine if there were a way to assess potential customers and simultaneously...

"Want to know one of the BEST ways to keep your business stagnant?  Don't automate - automation is a necessary step for actual scaling, and in this episode, we share some great tools that we've used to help scale and grow our business.  https://www.businesstalklibrary.com/stuffyourbookkeeperisnttellingyou  #business #bookkeeping #sybity #financeforbusinessowners "

Navigating Business Outsourcing: Finding the Right Fit Discover the Benefits and Considerations of Outsourcing for Your Business Curious about the strategic applications of outsourcing for your business? Join us for this week's episode, where we delve into the nuances of outsourcing, examining its advantages and potential drawbacks. For insights into when and where outsourcing can make a sign...

Boost Your Business Profitability: The Power of Strong Processes Unlocking Profit Growth Through Effective Process Implementation Seeking ways to enhance your business's profitability? Look no further than establishing robust processes. Processes play a pivotal role in creating a business that operates seamlessly, sparing you headaches and unnecessary challenges. Discover more in this week&ap...

Beyond Frugality: Maximizing Business Profitability The Pitfalls of Solely Cutting Costs for Business Success We've all heard the adage, 'Spend less money.' While it holds true for personal finances, applying the same logic to your business operations might jeopardize your profitability. Dive into this week's episode for invaluable insights. Discover the hidden truths your book...

Unlocking Business Profitability: Gain Insights for Informed Pricing Assess Your Business's Profitability and Unveil the Power of Smart Pricing Are you aware of your business's profitability? It's a query that often leaves business owners stumped. Grasping your business's profitability is pivotal for strategic pricing decisions. But what does it mean to engage in smart pricing?...