Welcome back to "Budgets, Books, and Balance Sheets." I'm your host, Kevin Mitchell, and today we're wrapping up our season with a special episode. Yes, that’s right folks, we are wrapping up our first season of the podcast. Not only is this the last episode of the season, but we're also going to recap what I think is the most important thing we've learned about hiring talent: the critical importance of watching out for their well-being. In the hustle and bustle of the business world, it's easy ...
Oct 31, 2023•10 min
Welcome to "Budgets, Books, and Balance Sheets," the podcast that helps you master the art of financial management. I'm your host, Kevin Mitchell, and today we're diving deep into the world of accounting and finance. Our episode title: "Top 10 Qualities to Look for in a Tax Accountant" In the world of finance, making the right hiring decisions can make or break your firm's success. And one key role that plays a pivotal part in any financial organization is that of a tax accountant. Tax accountan...
Oct 26, 2023•11 min
Episode #78 | Low Employee Morale: Top 5 Signs and How You Can Boost It Welcome back, dear listeners, to another episode of "Budgets, Books, and Balance Sheets." I'm your host, Kevin Mitchell. Today, we're diving deep into a topic that affects every corner of the business world, and especially so in the realm of accounting and finance. We are talking about low employee morale. We'll explore the top five signs of low morale and discuss strategies to boost it. But first, let's understand why it's ...
Oct 24, 2023•12 min
With remote work on the rise, many businesses are exploring ways to hire international employees. The question is, which method is best for your company? Should you opt for Outsourced Staffing, or would an Employer of Record (EoR) be a more suitable choice? To help you navigate this important decision, we'll explore the nine key differences between these two approaches. By the end of this episode, you'll be equipped with the knowledge you need to make an informed decision for your business. By 2...
Oct 20, 2023•11 min
Quiet Quitting is not about employees walking out the door with a dramatic exit; rather, it's the slow disengagement that happens long before they officially resign. And this trend, my friends, is something every finance professional and accounting firm should have on their radar. Why, you ask? Because it significantly influences productivity, morale, and ultimately, the bottom line. In an industry where the labor market is shrinking as we speak, taking care of the high-quality talent we already...
Oct 18, 2023•12 min
Procurement analysis, a strategic practice that significantly impacts an organization's financial health, involves the systematic evaluation of purchasing activities. It's all about data – collecting it, analyzing it, and interpreting it to make informed decisions. But why is this process so indispensable, and what does the future hold for it? Let's explore the world of procurement analysis. Procurement analysis utilizes a wide array of data sources. These include purchase orders, invoices, supp...
Oct 16, 2023•10 min
Today, the world of accounting and finance is highly regulated, and for a good reason. Violations or misconduct can result in hefty fines, lawsuits, damaged reputations, or even the loss of professional licenses. So, it's imperative for accounting and finance firms to hire individuals with the right qualifications, skills, ethical standards, and clean backgrounds. This is the main concern for most firms when hiring new positions, and even when we have all the technology to control every step of ...
Oct 11, 2023•11 min
Imagine you are the captain of a ship sailing across the ocean. You have a destination in mind, a crew of skilled sailors, and a map to guide you. But along the way, you encounter some challenges: a storm, a broken mast, a pirate attack. You need some extra help to overcome these obstacles and reach your port safely. What do you do? Do you hire more sailors to join your crew temporarily, or do you seek advice from an experienced navigator who can show you the best route? This is similar to the d...
Oct 10, 2023•7 min
Today, we are not talking about how offshoring accounting can be incredibly beneficial for accounting firms, something we have already talked about in other episodes, but rather how to overcome a particularly warring challenge of offshoring: Quality and compliance. Specifically, we'll be exploring how to ensure the following of international standards. To begin with, let’s make a quick recap of what we are talking about. Offshoring accounting is all about outsourcing financial responsibilities t...
Oct 05, 2023•13 min
You're at your wit's end trying to find the right candidate for that open senior accountant position. After weeks of posting the job ad and sifting through piles of resumes, you still haven't found anyone who's the perfect fit. The accounting department is struggling with the extra workload, and you need to fill this role fast. It may be time to consider partnering with an accounting recruiting agency. These agencies have access to a pool of qualified candidates that you may be missing. They can...
Oct 02, 2023•9 min
In a world where the talent pool knows no geographical boundaries, the race to secure top talent has never been more intense. The onset of COVID-19 reshaped how we work, how we collaborate, and most importantly, how we access talent. Today, we'll explore how accounting and finance firms are tapping into this global talent goldmine, transforming their organizational structures and delivery models in the process. The truth is, the competition for talent has reached a fever pitch. Organizations acr...
Sep 29, 2023•11 min
As the global workforce continues to evolve, companies are increasingly seeking top-notch talent beyond their local borders. The advantages of offshore talent are undeniable: expanded talent pools, increased diversity, and enhanced innovation. However, the path to offshore hiring is not always smooth sailing. Language barriers, cultural differences, and time zone challenges can make the process daunting. That's where remote recruitment companies come into play, bringing their expertise to naviga...
Sep 27, 2023•12 min
The quest for top-tier talent has transcended borders. Gone are the days when organizations were confined to their local talent pools. In our interconnected world, hiring from overseas has become a strategic necessity for business growth. Whether you run a financial firm or an accounting company, venturing into foreign markets for skilled professionals could give your organization the competitive edge it needs. But, before you set sail on this offshore journey, you need to be well-prepared. One ...
Sep 25, 2023•10 min
Today, we're diving into the intriguing world of offshoring accounting and finance talents. It's a strategy that many CPA firms in the United States have been embracing to cut costs and streamline their operations. But, as with any financial decision, measuring the Return on Investment or ROI can be a challenging task. In this episode, we'll explore the various factors to consider when evaluating the ROI of offshoring accounting and finance professionals. So, if you're a CPA firm considering thi...
Sep 22, 2023•13 min
As globalization and digitization continue to redefine our world, companies worldwide can now easily tap into the potential of global talent, including the rich pool of South American professionals. And one country that stands out in this global trend is Argentina. The 2023 Deel "State of Global Hiring" report ranks Argentina as the regional leader, with the highest number of employees hired by foreign companies. This surge in offshore hiring raises questions about the future of employment patte...
Sep 20, 2023•9 min
When we talk about remote workers, freelancers, and contractors, we're essentially discussing the various ways in which individuals can contribute to a business, regardless of where they're located or the lifestyle they choose. It's essential to grasp these differences to make informed decisions about who to hire and how to structure your workforce effectively. As you may know, remote work is on the rise, especially in the wake of the pandemic that forced many businesses to adapt to new ways of ...
Sep 18, 2023•11 min
Hello and welcome to Budgets, Books, & Balance Sheets, the podcast where we talk about all things related to accounting, finance, and business. I’m your host, Kevin Mitchell, and today we’re going to explore a topic that is very relevant for the current times: T-shaped skills. What are T-shaped skills? And why are they important for accountants and finance professionals? How can you develop them and what are the benefits of having them? These are some of the questions that we’ll try to answe...
Sep 15, 2023•11 min
Accountants are money and expense whizzes, but sometimes, advertising can throw them a curveball. Figuring out who to target and how to get the word out isn’t always a walk in the park. With more and more accounting firms popping up online, standing out from the crowd is harder than ever. That’s where a killer advertising strategy comes in handy - it helps you make some noise and reel in more clients. So, let’s crack this nut: How can your accounting biz turn heads and bring in fresh clients? We...
Sep 13, 2023•12 min
Welcome back to another episode of "Budgets, Books, & Balance Sheets." I'm your host, Kevin Mitchell, and today we're diving headfirst into a topic that's essential for every bookkeeping professional and small accounting firm: How to Find Bookkeeping Clients. In today's highly competitive and digital industry, acquiring new clients can be difficult. That is why we have gathered 10 powerful strategies to help your bookkeeping business grow. So, let's jump right in. Read more here. 👉 Access...
Sep 12, 2023•11 min
Historically, offshore staffing in finance and accounting was all about one thing: reducing costs. It allowed businesses to tap into a global talent pool and acquire services at a fraction of the local price. But, over time, it became evident that offshore staffing offered so much more than just cost savings. Today, outsourcing staffing is about far more than just the bottom line. Finance and accounting firms that create and sustain real value utilize offshore staffing for strategic ends, fillin...
Sep 08, 2023•9 min
For smaller businesses or startups, a CFO's role can be absolutely critical. They can assist in securing funding, managing cash flow, and crafting strategies for growth. Meanwhile, in larger companies, a CFO can help optimize financial operations, manage risk, and offer valuable insights for strategic decisions. Now, hiring a full-time CFO can be a substantial commitment, both in terms of time and money. This is where a Fractional CFO can really shine. A Fractional CFO is a financial professiona...
Sep 06, 2023•9 min
The talk about the arrival of millennials in the workforce is not new and has sparked numerous conversations aimed at understanding the motivations and aspirations of this generation. Born between 1981 and 1996, millennials have often been characterized as inconsistent, tech-savvy, and freedom-seeking. The truth is that by now, millennials represent the vast majority of the active workforce, and as a result, managers and leaders in various industries, including accounting and finance, have found...
Sep 04, 2023•9 min
You've probably heard the terms "AI" and "automation" being thrown around interchangeably, but make no mistake—they're not the same. Both can supercharge your business, but in distinct ways. Read more here. 👉 Access Vintti’s 10% DISCOUNT for your next remote accounting talent. 🔥...
Sep 01, 2023•9 min
Outsourcing financial roles isn't a new concept, but in recent times, it has gained significant momentum. Outsourcing teams from afar, across oceans and continents, offers undeniable advantages, primarily due to cost efficiency. But before we set sail on the ocean of possibilities, let's unpack the very concepts that differentiate these two options. Our contenders today are nearshore and offshore outsourcing. Let's start with a quick breakdown: Offshore involves hiring from countries far across ...
Aug 30, 2023•9 min
Just last year, a study by IBISWorld reported that there were over 110,000 accounting services businesses in the U.S. alone, and guess what, that number's only been growing. By the time we hit 2024, the global accounting services market is projected to reach a whopping $574.2 billion. Now, that's a huge pie, but it also means more players are diving in, making the competition even more intense. So, what does that mean for you? Well, it means your ability to attract and retain clients hinges on s...
Aug 28, 2023•10 min
As you may know, 2020 marked not only the onset of global lockdowns but also the beginning of the remote work revolution. The shift from conventional office settings to home offices may have been somewhat sudden, yet it’s evident that remote work is here to stay. The advantages of employing remote workers have become a boon for businesses, and this practice shows no signs of losing momentum. But as remote work becomes the norm, finding the right talent has become a challenging task. What if the ...
Aug 25, 2023•9 min
Crisis leadership is the ability to lead effectively in situations that are unpredictable, complex, and potentially threatening. A crisis can be defined as “a situation that has reached a critical phase for which urgent action is needed to avoid or minimize damage or harm”. A crisis can be caused by various factors, such as natural disasters, cyberattacks, fraud, regulatory changes, or market disruptions. Crisis leadership is not just about managing the crisis; it’s also about creating value fro...
Aug 23, 2023•9 min
Leading an accounting firm comes with an ever-evolving set of challenges. While leadership has always been about fostering growth, adapting to changing circumstances, and managing people, there’s one factor that remains consistently tricky: resistance to change. Despite the increasing pace of innovation in the business world, it’s common for accounting firms, like other businesses, to encounter resistance when attempting to implement new systems, policies, or practices. The answers might lie dee...
Aug 21, 2023•8 min
Cognitive biases often operate unconsciously and stem from the brain's natural inclination to process information quickly and efficiently. While these biases may have some utility in specific contexts, they can also lead to irrational or erroneous decision-making. Such outcomes can result in inefficient resource allocation, unfairness, conflicts, and other challenges that undermine effective leadership within organizations. Maintaining an open mind and being receptive to new ideas and perspectiv...
Aug 18, 2023•12 min
Ever felt that despite your very best efforts, you can't quite reach the business objectives of your accounting firm? If so, today's topic might be just the solution you've been looking for. OKRs, or Objectives and Key Results, have been around since the 1970s, but it’s the tech giants like Google and LinkedIn that really brought them to the forefront of business strategy. Unlike our usual to-do lists, OKRs aren’t about tasks, they’re about goals, tangible, measurable goals. With traditional “to...
Aug 16, 2023•11 min
