162 How to Run an Accounting Practice (How to RAAP) Pt 1: Introducing the AH Textbook (feat. Terrell Turner, CPA)

Accounting High

Jul 11, 2023•56 min•Ep. 162

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Episode description

Episode 162

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FACULTY: Terrell Turner

CLASS: #How2RAP

TITLE: How to Run an Accounting Practice (RAP) Pt 1: Introducing the Book

In this podcast episode, Scott interviews Terrell Turner, the Accounting High Librarian, for the first episode of "How to RAP." The episode explores the parallels between rap music and the accounting profession, discussing the need for accountants in the face of new technology and the importance of adopting a client-centric approach.

An introduction to the book and its relevance to the accounting profession.
The reveal of the book's title, which sets the stage for the discussion.
Drawing parallels between rap music and the accounting profession, highlighting the importance of storytelling and creativity.
Exploring the evolving role of accountants in the face of technological advancements and automation.
Bridging the gap between traditional management accounting and the new era of advisory services.
Strategies for helping clients and providing value-added advisory services.
The concept of looking at things differently to break free from the traditional "hamster wheel" of accounting, including the implementation of the Profit First model.
Reflecting on the initial proposal of value pricing and its impact on the accounting industry.
Terrell's personal experiences living in Germany and the birth of Cartoon Network, highlighting the effects of changing technology on various industries.
Examining the influence of TurboTax and other factors that have disrupted traditional accounting practices.
Exploring the connection between rap and accounting, emphasizing the importance of accountants who can speak to and resonate with their clients.
Learning from other "rappers" in the industry, drawing inspiration from their approaches and experiences.

Shout Outs:

Mike Michalowicz, Geni Whitehouse, Acuity

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