This interview with Mackay Goodwin founder Dom Calabretta gives you expert insight into retail, restaurants and key things accountants need to know before tipping a company into liquidation or voluntary administration. 

 

Dom and his team are offering From the Trenches listeners a free 20 minute consultation to discuss your client client’s situation. 


To claim your free consultation with Mackay Goodwin head to https://www.mackaygoodwin.com.au/

 

Mackay Goodwin are proud sponsors of From the Trenches

This interview with Mackay Goodwin founder Dom Calabretta gives you expert insight into retail, restaurants and key things accountants need to know before tipping a company into liquidation or voluntary administration.&nbsp;
&nbsp;
Dom and his team are offering From the Trenches listeners a free 20 minute consultation to discuss your client client&rsquo;s situation.&nbsp;
 To claim your free consultation with Mackay Goodwin head to <a href="https://www.mackaygoodwin.com.au/">https://www.mackaygoodwin.com.au/</a>
&nbsp;
Mackay Goodwin are proud sponsors of From the Trenches

In the age of FAKE NEWS, brave souls are needed to fight through the noise and give accountants in practice the support and information they deserve. 
David Boyar and Paul Meissner share a passion for the role Accountants play in the Australian economy. As the engine room of the economy, small - medium businesses rely on their accountant for technical knowledge, business acumen and professional (and often personal) support. As the way accountants work (through technology) and service (through new services like Virtual CFOs) changes, we have to ask If accountants are helping their client’s, who is helping Accountants? 

If you read the Accounting Industry news and listen to the industry leaders then the Accounting industry is at war. It’s a war against technology, the ATO and even UBER (apparently). The problem is that most of the leaders have never worked in practice. They are subject matter experts but can't offer the perspective of someone who had to actually have conversations with clients about implementing technology, actually moved to value pricing, actually compared technology features and how an entire team may be impacted by them. 

Each week in this podcast, 2 plucky Chartered Accountants will bring you the real stories ‘from the trenches’. This no holes barred, feisty, yet humorous take on the Accounting landscape will be entertaining while sending a message to the scaremongers, that the FAKE NEWS must end. By following a simple podcast formula, David and Paul will deliver rapid value straight to your earphones. With segments like ‘best and worst of the week’, ‘Fake News exposed’ and a the rapid format ‘5 questions in 5 minutes’ special guest interviews, what more could you want. This podcast won’t be for the faint hearted.

https://www.fromthetrenches.com.au/

From The Trenches

In the age of FAKE NEWS, brave souls are needed to fight through the noise and give accountants in practice the support and information they deserve. 

David Boyar and Paul Meissner share a passion for the role Accountants play in the Australian economy. As the engine room of the economy, small - medium businesses rely on their accountant for technical knowledge, business acumen and professional (and often personal) support. As the way accountants work (through technology) and service (through new services like Virtual CFOs) changes, we have to ask If accountants are helping their client’s, who is helping Accountants? If you read the Accounting Industry news and listen to the industry leaders then the Accounting industry is at war. 

It’s a war against technology, the ATO and even UBER (apparently). The problem is that most of the leaders have never worked in practice. They are subject matter experts but can't offer the perspective of someone who had to actually have conversations with clients about implementing technology, actually moved to value pricing, actually compared technology features and how an entire team may be impacted by them. Each week in this podcast, 2 plucky Chartered Accountants will bring you the real stories ‘from the trenches’. 

This no holes barred, feisty, yet humorous take on the Accounting landscape will be entertaining while sending a message to the scaremongers, that the FAKE NEWS must end. By following a simple podcast formula, David and Paul will deliver rapid value straight to your earphones. With segments like ‘best and worst of the week’, ‘Fake News exposed’ and a the rapid format ‘5 questions in 5 minutes’ special guest interviews, what more could you want. 

This podcast won’t be for the faint hearted. https://www.fromthetrenches.com.au/

In the age of FAKE NEWS, brave souls are needed to fight through the noise and give accountants in practice the support and information they deserve. David Boyar and Paul Meissner share a passion for the role Accountants play in the Australian economy. As the engine room of the economy, small - medium businesses rely on their accountant for technical knowledge, business acumen and professional (and often personal) support. As the way accountants work (through technology) and service (through new services like Virtual CFOs) changes, we have to ask If accountants are helping their client’s, who is helping Accountants? If you read the Accounting Industry news and listen to the industry leaders then the Accounting industry is at war. It’s a war against technology, the ATO and even UBER (apparently). The problem is that most of the leaders have never worked in practice. They are subject matter experts but can't offer the perspective of someone who had to actually have conversations with clients about implementing technology, actually moved to value pricing, actually compared technology features and how an entire team may be impacted by them. Each week in this podcast, 2 plucky Chartered Accountants will bring you the real stories ‘from the trenches’. This no holes barred, feisty, yet humorous take on the Accounting landscape will be entertaining while sending a message to the scaremongers, that the FAKE NEWS must end. By following a simple podcast formula, David and Paul will deliver rapid value straight to your earphones. With segments like ‘best and worst of the week’, ‘Fake News exposed’ and a the rapid format ‘5 questions in 5 minutes’ special guest interviews, what more could you want. This podcast won’t be for the faint hearted. https://www.fromthetrenches.com.au/

Stimulus Response w/ insolvency expert Dom Calabretta, MackayGoodwin.

As Statler said to Waldorf, the witty old blokes in the VIP box on the Muppet show;

“There’s a lot to be said about this program.”

To which Waldorf quipped back;

“Too bad you can’t say it on a family show!” The bothed harrumphed and probably cut to a clip of Kermit trying to get animal ready for his next scene.

And in the spirit of that nostalgia Trenches starts it's 8th year.

Paul and David say a huge THANK YOU for investing some of your time listening to us.

Because of you we are earn the meaningless perk of being ranked in the top 20% most listened to podcast on earth.

Not bad for a show about real life in the accounting industry.

Best on Ground

David

CAANZs budget submission covers everything - but will Canberra listen? - CAs influence has to be at a weak point  https://www.charteredaccountantsanz.com/news-and-analysis/advocacy/policy-submissions/pre-budget-submission-2023-24

Karbons payments product was bigger than expected https://karbonhq.com/feature/billing-and-payments/

Fox Sports - Stick to highlights of the 2016 and 2023 Grand Finals, leave the balance sheets to us https://www.linkedin.com/feed/update/urn:li:activity:7163833930805096449/



Paul 

Paul hit the ChangeGPS National tour to see the launch of Protect - David calls it the biggest innovation in accounting in a decade  https://changegps.com.au/apps/protect

DECLARATION OF INDEPENDENCE - David did not ask Paul to cover this, in fact David has begged Paul to talk about ChangeGPS in the past and he has said no. The comments in the show are 100000% because Paul chose to share them. 

MYOB lampoons instant invoicing in the best way https://www.youtube.com/watch?v=RVzPKz_Uz2M





Worst on Ground

Paul

Flexible Hours will suffer thanks to the right to switch off https://www.afr.com/work-and-careers/workplace/business-fights-back-against-right-to-disconnect-from-work-20231220-p5esol#:~:text=%E2%80%9CA%20legislated%20right%20to%20disconnect,are%20unreasonable%2C%E2%80%9D%20she%20said. 

Agent Linking- David completely misunderstood the issue but Paul was in the room when it was workshopped….what actually happened is worse.

Ethics and the insane tokens accountants need to jump through as CA clings to a belief it can regulate the profession. Pledges, dobbing in peers increased ethics training. 

David

Media reports of 150 ATO agents linked to tik tok GST fraud is good ol fashioned clickbait

As Statler said to Waldorf, the witty old blokes in the VIP box on the Muppet show;
“There’s a lot to be said about this program.”
To which Waldorf quipped back;
“Too bad you can’t say it on a family show!” The bothed harrumphed and probably cut to a clip of Kermit trying to get animal ready for his next scene.
And in the spirit of that nostalgia Trenches starts it's 8th year.
Paul and David say a huge THANK YOU for investing some of your time listening to us.
Because of you we are earn the meaningless perk of being ranked in the top 20% most listened to podcast on earth.
Not bad for a show about real life in the accounting industry.
Best on Ground
David
CAANZs budget submission covers everything - but will Canberra listen? - CAs influence has to be at a weak point  <a href="https://www.charteredaccountantsanz.com/news-and-analysis/advocacy/policy-submissions/pre-budget-submission-2023-24">https://www.charteredaccountantsanz.com/news-and-analysis/advocacy/policy-submissions/pre-budget-submission-2023-24</a> 
Karbons payments product was bigger than expected <a href="https://karbonhq.com/feature/billing-and-payments/">https://karbonhq.com/feature/billing-and-payments/</a> 
Fox Sports - Stick to highlights of the 2016 and 2023 Grand Finals, leave the balance sheets to us <a href="https://www.linkedin.com/feed/update/urn:li:activity:7163833930805096449/">https://www.linkedin.com/feed/update/urn:li:activity:7163833930805096449/</a> 
 
Paul 
Paul hit the ChangeGPS National tour to see the launch of Protect - David calls it the biggest innovation in accounting in a decade  <a href="https://changegps.com.au/apps/protect">https://changegps.com.au/apps/protect</a> 
DECLARATION OF INDEPENDENCE - David did not ask Paul to cover this, in fact David has begged Paul to talk about ChangeGPS in the past and he has said no. The comments in the show are 100000% because Paul chose to share them. 
MYOB lampoons instant invoicing in the best way <a href="https://www.youtube.com/watch?v=RVzPKz_Uz2M">https://www.youtube.com/watch?v=RVzPKz_Uz2M</a> 
 
Worst on Ground
Paul
Flexible Hours will suffer thanks to the right to switch off <a href="https://www.afr.com/work-and-careers/workplace/business-fights-back-against-right-to-disconnect-from-work-20231220-p5esol#:~:text=%E2%80%9CA%20legislated%20right%20to%20disconnect,are%20unreasonable%2C%E2%80%9D%20she%20said">https://www.afr.com/work-and-careers/workplace/business-fights-back-against-right-to-disconnect-from-work-20231220-p5esol#:~:text=%E2%80%9CA%20legislated%20right%20to%20disconnect,are%20unreasonable%2C%E2%80%9D%20she%20said</a>. 
Agent Linking- David completely misunderstood the issue but Paul was in the room when it was workshopped….what actually happened is worse.
Ethics and the insane tokens accountants need to jump through as CA clings to a belief it can regulate the profession. Pledges, dobbing in peers increased ethics training. 
David
Media reports of 150 ATO agents linked to tik tok GST fraud is good ol fashioned clickbait

Can CA regulate the profession? | MYOB's ripper new add | The biggest innovation in 10 years

My Father was a public practitioner for 40 years and my family lost him this year. 

One day, everyone of your families will be in this position. This episode, might be important to them. At some point in your life, it might be important for you. 

The first 8.5 minutes of this episode I talk about Dad. He came to Australia with very little, was brought up through welfare homes and then together with my mum raised my sister and I, while building an accounting practice that sustained my family through millions of happy moments. If it is too heavy for you, I understand, sharing this is an indulgence for me, you can skip it if you want to. 

If you skip it, you need to know this bit. 

Regular listeners would knowhow influential Dad was on my career and values. He is the reason I understand what you do so well. And why I realised I was better placed to help you rather than small business clients. 

Paul and I then talk through the first two weeks, the transition to get Paul control to service clients, and how he navigated the day to day while managing his practice and his family. 

Finally we talk through the sale process and what it means for for my family

While dealing with the grief, Paul stepped in as director and ran the day today while I worked through a sale process.

Not every family has a Paul or a son like me, our knowledge of the industry helped. 

And not everyone has a friend like Paul, who stepped up the way the very best of friends do, when you are at your lowest. 

I hope when reading this  line, you appreciate my lesson here.

I develop, sell and support accounting technology for a living, so it is with honesty that I say:-

The tech you use doesn't matter. 

All that matters. Is your health, and your relationship with your clients.

Yes, you're all that matters.





______________________



Cultural Note

Z"L is an English rendering of a common Hebrew posthumous honorific.

ז״ל‎ (Z"L) is the acronym of זיכרונו לברכה‎ (zikhronó liv'rakhá, literally “may his memory be a blessing”. - wikipedia.

My Father was a public practitioner for 40 years and my family lost him this year. 
One day, everyone of your families will be in this position. This episode, might be important to them. At some point in your life, it might be important for you. 
The first 8.5 minutes of this episode I talk about Dad. He came to Australia with very little, was brought up through welfare homes and then together with my mum raised my sister and I, while building an accounting practice that sustained my family through millions of happy moments. If it is too heavy for you, I understand, sharing this is an indulgence for me, you can skip it if you want to. 
If you skip it, you need to know this bit. 
Regular listeners would knowhow influential Dad was on my career and values. He is the reason I understand what you do so well. And why I realised I was better placed to help you rather than small business clients. 
Paul and I then talk through the first two weeks, the transition to get Paul control to service clients, and how he navigated the day to day while managing his practice and his family. 
Finally we talk through the sale process and what it means for for my family
While dealing with the grief, Paul stepped in as director and ran the day today while I worked through a sale process.
Not every family has a Paul or a son like me, our knowledge of the industry helped. 
And not everyone has a friend like Paul, who stepped up the way the very best of friends do, when you are at your lowest. 
I hope when reading this  line, you appreciate my lesson here.
I develop, sell and support accounting technology for a living, so it is with honesty that I say:-
The tech you use doesn't matter. 
All that matters. Is your health, and your relationship with your clients.
Yes, you're all that matters.
 
 
______________________
 
Cultural Note
Z"L is an English rendering of a common Hebrew posthumous honorific.
ז״ל‎ (Z"L) is the acronym of זיכרונו לברכה‎ (zikhronó liv'rakhá, literally “may his memory be a blessing”. - wikipedia.

Joseph Boyar Z"L

This show was recorded in mid February but thanks to Dave being busy getting the ChangeGPS new TaxPlan Advanced product ready we had a delay getting it out. Oh how we long for the days 6 years ago when we'd record and publish in a 2 minute workflow. 



Before we begin.....To The Xero's...https://www.linkedin.com/feed/update/urn:li:activity:7039489285565161472/ 

Best

A very simple explanation about why we don’t know what to do in the current Australian Economy

Australians head for their first endogenous shock in 30 years - MacroBusiness



Tips for Xero Roadshow for exhibitors and why we need an active ecosystem

Xero Roadshow Playbook | App Partner Edition (letsjourney.com.au)



Worst

Dext are determined to reinvent an accounting role Pre-Accounting: Why Small Businesses Can’t Ignore It - Dext Blog

Death of the Accountants Exemption Michelle Levy advice review: Labor to ‘stress-test’ plan to overhaul financial advice (afr.com)



Xero State of the Union Report Take Aways

Dave
Surprised how popular mergers are in shifts in practice structure is
40% of practices offer employee benefits 40% dev and training, 33% track employee wellbeing, if you aren't happy leave….we don’t need to constantly berate the business model of accounting firms, enough firms are progressive to give staff choice and it's the laggards loss. 
Only 19% are home office only, that convo is dead, move on

 Paul
Bookkeepers don’t equal accountants in any sense of practice but the report, like so many other strip both of their individual identities and can get the conclusion wrong
More services doesn’t mean more service
Surveys are always an issue



Dave's not so new Trench

This show was recorded in mid February but thanks to Dave being busy getting the ChangeGPS new TaxPlan Advanced product ready we had a delay getting it out. Oh how we long for the days 6 years ago when we'd record and publish in a 2 minute workflow. 
 
Before we begin.....To The Xero's...https://www.linkedin.com/feed/update/urn:li:activity:7039489285565161472/ 
Best
A very simple explanation about why we don’t know what to do in the current Australian Economy
<a href="https://www.macrobusiness.com.au/2023/02/australians-head-for-their-first-endogenous-shock-in-30-years/">Australians head for their first endogenous shock in 30 years - MacroBusiness</a>
 
Tips for Xero Roadshow for exhibitors and why we need an active ecosystem
<a href="https://www.letsjourney.com.au/xero-roadshow-playbook">Xero Roadshow Playbook | App Partner Edition (letsjourney.com.au)</a>
 
Worst
Dext are determined to reinvent an accounting role <a href="https://dext.com/uk/resources/accounting-news/pre-accounting-why-small-businesses-cant-ignore-it">Pre-Accounting: Why Small Businesses Can’t Ignore It - Dext Blog</a>
Death of the Accountants Exemption <a href="https://www.afr.com/policy/tax-and-super/levy-stands-firm-on-plan-to-allow-banks-insurers-to-give-advice-20230203-p5chqm">Michelle Levy advice review: Labor to ‘stress-test’ plan to overhaul financial advice (afr.com)</a>
 
Xero State of the Union Report Take Aways
Dave
<ul>
<li>Surprised how popular mergers are in shifts in practice structure is</li>
<li>40% of practices offer employee benefits 40% dev and training, 33% track employee wellbeing, if you aren't happy leave….we don’t need to constantly berate the business model of accounting firms, enough firms are progressive to give staff choice and it's the laggards loss. </li>
<li>Only 19% are home office only, that convo is dead, move on</li>
</ul>
 Paul
<ul>
<li>Bookkeepers don’t equal accountants in any sense of practice but the report, like so many other strip both of their individual identities and can get the conclusion wrong</li>
<li>More services doesn’t mean more service</li>
<li>Surveys are always an issue</li>
</ul>
 
Dave's not so new Trench

Stimulus Response w/ insolvency expert Dom Calabretta, MackayGoodwin.

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