The Accounting Podcast

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**The Accounting Podcast**

The most authoritative voice in accounting news. Every week, Blake Oliver and David Leary break down the stories reshaping the profession — AI, the Big Four, firm M&A, audit failures, and the talent crisis — with analysis you won’t get from the trade press. Earn free NASBA-approved CPE just for listening, with the Earmark app.

Latest Episodes:

We've Got No Goodwill for Goodwill & the Pentagon Sucks at Accounting Jan 26, 2020

Show notes

Sponsors

Bill.com: https://cloudaccountingpodcast.promo/bill
Timesheets.com: https://cloudaccountingpodcast.promo/timesheets
OnPay: http://cloudaccountingpodcast.promo/onpay

Show Notes

02:20 – Blake gets his nerd on in the hunt for the true meaning of goodwill
04:40 – Google hopes you won't pay attention to its new search results format | The Verge
06:47 – Reviews and feedback! Thank you!
07:31 – Our in-depth discussion of the four-day workweek is here
07:41 – How to stop serial meeting holders in their tracks – charge them for every meeting they schedule! | Bloomberg
09:42 – Donny takes us to task on our discussion of RPAs in the Predictions episode
10:34 – More on the Gartner definition of RPA | Gartner.com
13:24 – Divided we accountants fall over the definition of goodwill | WSJ
14:38 – Some more insight on goodwill from Calcbench | Calcbench
25:13 – Why train your staff online when you can build a $450M campus like KPMG? | Bloomberg Tax
26:55 – More new accounting standards equals ever-rising audit fees | Accounting Today
28:17 – What you need to know about tax-zapper software! | AccountingWEB
- More info on the zappers here | Wikipedia
29:17 – Grounded for life – Former WF CEO gets the boot from banking | CFO
31:00 – Seeing red – Cachet files for Chapter 11 | Albany Business Review
- If you missed it, here's our discussion with Cachet's General Counsel last year
32:08 – $35 TRILLION worth of stupid accounting tricks | Bloomberg
35:38 – Is the Big Easy just a Big Target for hackers? | PYMNTS
36:57 – Totally tubular, man! Everything you ever needed to know about pneumatic tubes | Pneumatic.Tube
38:00 – The Digital Dollar Projects gets us one step closer to Fed-backed cryptocurrency | CFO
39:18 – Pass the bucks - China's testing out its own digital dollar | NPR
40:20 – Have phone, will vote? King County thinks so | WSJ
43:52 – Maybe it's not Mint to be | Fast Company
47:00 – Mint might not be your thing, but You really Need a Budget | YNAB
49:20 – Tax prep jitters? Not according to this survey | Finance Buzz
50:55 – VCs are placing some pretty high bets on B2B fintechs | PYMNTS
51:45 – Ceterus, playing the accounting firm with engineers games, rakes in a total of $30M | The Post and Courier
52:31 – According to Glassdoor, you need to become an accounting manager | Going Concern
53:41 – Need to beef up your firm's password management? Check out this guide | Tom's Guide

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Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram!

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Visa acquires Plaid & Intuit makes ChronoBooks exclusive to QBO Advanced Jan 19, 2020

Show notes

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QuickFee: https://cloudaccountingpodcast.promo/quickfee
AccountingSuite: https://cloudaccountingpodcast.promo/asuite
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Show Notes

01:52 – David can see clearly now, just in time to admire the cracked screen of his smartphone
02:42 – Blake's upping his skills game at Jirav, learning financial modeling
03:08 – Blake's second webinar - Webinar Recording: How to Build a Financial Model for an Accounting Firm | Jirav
04:25 – The most effective way to master a new tool or software is to use it for yourself, or a client
05:24 – Is there life after The Cloud Accounting Podcast? Blake reveals his retirement plan
06:57 – Side hustles can help you understand your clients' pain points
07:42 – American remote-worker ranks have nearly tripled in the past two decades!
08:02 – Business on top, PJs on the bottom - just one of the reasons why remote work rules!
08:18 – Reviews! Thank you, I <3 smilies, Aassas, and Glafollette!
13:43 – Visa changes it stripes, with some $5.3 billion Plaid | Bank Innovation
14:30 – Is data the new oil?
15:46 – Everything old wants to be new again, when it comes to fintechs, at least | Advisorhub
16:30 -- Visa's Acquisition of Plaid Presentation | Visa
17:42 – No QuickBooks Online Advance? No ChronoBooks for you! | Intuitive Accountant
19:16 – Perhaps Intuit killed the wrong tool? The ChronoBooks backlash begins
23:38 – Who needs a one-percent reward, when you can boost your Karma with every purchase? | Expensify
27:12 – Dave Barrett makes a case for Karma | Expensify
27:23 – Do you Concur? Emburse wants to change your mind! | Accounting Today
29:19 – Google ups its productivity game with the acquisition of AppSheet | AppSheet
31:16 – Stand up and shout - FASB is the villain! | Accounting Today
33:02 – While it might delight CPAs and auditors, this 10,000 page codification, for mere accounting mortals, is a bit much
33:28 – The End of Accounting by Baruch Lev and Feng Gu | Amazon
34:32 – There's really no place for GAAP-basis financials in a subscription economy
37:11 – The CCPA implementation comes with a pretty hefty price tag - $55 BILLION |The Hill
39:11 – Could the CCPA be more trouble, and new risk than it's actually worth?
41:00 – Email still poses the biggest security threat for small businesses | PYMNTS
42:17 – Deepfake audio fraud is the new risk in town | Axios
43:28 – Are Google and Facebook too big to fail? Apparently not when it comes to invoicing scams | Fortune
44:19 – While paper check usage declines, check fraud continues to rise | WSJ
45:09 – UK small businesses are just not that fond of open banking | PYMNTS
46:29 – Be afraid; be very afraid of the Buffett Indicator | CCN
47:05 – Mr. Buffett buys low, and sells high, or holds ... Be like Mr. Buffett!
49:41 – Time to move to Finland? | Quartz at Work
51:44 – Eliminating useless and constant meetings might be even more useful than a four-day workweek
52:28 – Who needs humans when you can hire an Alphabot? Walmart's trying to stay in the game with warehouse automation | Gizmodo

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It's tax season! (and the best time to steal your competitors' clients) Jan 14, 2020

Show notes

Sponsors

QuickFee: https://cloudaccountingpodcast.promo/quickfee
AccountingSuite: https://cloudaccountingpodcast.promo/asuite
OnPay: http://cloudaccountingpodcast.promo/onpay

Show Notes

05:31 – Fresh back from the Sage Accountants Advisory Council, in Dallas, Blake is basking in brisket afterglow and ready to talk cloud accounting!
06:21 – David takes a field trip to a real accounting firm!
07:53 – It’s tax season! Yay … | Accounting Today
08:41 – Are IRS audits becoming an endangered activity? | CNBC
11:51 – When the IRS fails to collect from cheaters, it costs everyone else up to $3K | Accounting Today
15:25 – Wanna get new biz for your firm? Start during tax season! | CPA Trendlines
17:08 – IRS calls open season on tax-prep competition, and gives the Free File program a makeover | ProPublica
19:43 – Straight from the source - Free File: File Your Taxes Online for Free | IRS
23:16 – According to a recent survey, accountants are upping their tech game and their advising skills! | AccountingWEB
29:56 – Hello Pot, this is Kettle – Is Amazon feeling too much heat from Honey? | PYMNTS
31:28 – California – Land of Confusion – When it comes to the new privacy law | Fox and Hounds Daily
35:42 – Way to keep that private info safe, Facebook! | Bloomberg
37:35 – No time like the present – the California Board of Accountancy switches to email distribution of its newsletter, just in time to let everyone know they raised their fees | CBA
39:30 – New Year's Bug Takes NYC Parking Meters Offline | PYMNTS
41:53 – Virtually screwed –Thomson Reuters’ Virtual Office goes down for the count … But at least they’re providing status updates! | Thomson Reuters
47:49 – What’s your favorite way of dealing with client 1099s? | CPA Trendlines
49:51 – “Hey, you! Get off of my screen!” Chase just says no to screen-scrapers | Bank Innovation
51:51 – Do banking consumers really want to know who owns their bank data? | CNBC
54:43 – What is open banking, anyway? | American Banker

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The best and worst 2020 predictions (and some of our own) Jan 12, 2020

Show notes

Sponsors

Jirav: www.jirav.com

Hi, this is Blake, and I just wanted to let you know that this episode of the Cloud Accounting Podcast is sponsored by Jirav, my employer. “Jirav” sounds a lot like “giraffe” — and that’s no accident. Giraffes are the tallest animal in the world. That gives them a great view. Our goal at Jirav is to give you a similarly great view of what’s going on with your business.

We do that by helping you understand where your business has been, and most importantly, predict where it’s going. Jirav connects your cloud-based accounting, payroll, CRM, and billing data together to automatically update shareable online dashboards, monthly reporting packages, and sophisticated financial plans and budgets in real-time. If you’re using Excel for reporting and forecasting, you’ll save hours every month with Jirav.

Learn how accounting firms are using Jirav to deliver connected insight, strategize growth, and help their clients make more profitable decisions. Visit jirav.com and start your 30 day free trial. That’s J-I-R-A-V dot com. See farther with Jirav.

Show Notes

00:38 – Looking back - how many 2019 predictions came true?
03:17 – Blake's first prediction for 2020 comes true less than a minute later ... Well, sort of ...
03:38 – Culling All Accounting Conferences – less definitely may start to be more! | Accounting Today
05:33 – Is there any value in free?
09:01 – Duh ... Overstating the obvious isn't really making a prediction | E27
09:31 – Dynamic pricing is just not a thing, at least not for the smaller players
11:09 – Hmm - is "used" the new "new"?
11:28 – What's going to have the biggest short-term impact on accounting? One hint: it's not humans | Journal of Accountancy
13:25 – Blockchain in 2020 - boom or bust? | Enterprise Times
14:50 – Armanino releases blockchain-powered app for instant attestation | Accounting Today
16:49 – Government still says no to crypto | Real Daily
19:58 – Everybody’s losing their minds over 5G! But, why? | The Verge
21:14 – Blake takes issue with 2020 being the breakout year for 5G – lack of speed isn’t the problem; lack of use is
23:25 – 2020 just might be the year of foldy, rolly, hidey devices ... Maybe
25:12 – 2020 sees the hiring of non-accounting grads at CPA firms continue | Journal of Accountancy
26:25 – Blake says it's going to take a good decade to create and implement the changes needed in the CPA exam and curriculum
27:49 – Want to stay relevant, and innovate? Pull your head out of last year! | LinkedIn
29:33 – Millennials might be so 2019, but they still have some decent asks when it comes to employment | Boomer.com
31:31 – Open banking in the US? Maybe in 2030 ... | Accountancy Today
33:19 – What's the most important issue facing the accounting industry? Here are at least 100 | Accounting Today
35:30 – Things are different all over - 2020 Accounting Changes from Down Under | Accountants Daily
37:42 – Automation - great for those with actual skills; not great for the not-so-great ...
37:55 – What do accounting regulators actually DO? | CFO Dive
40:17 – For your reading pleasure - 120 AI Predictions For 2020 | Forbes
42:17 – Speaking of Voice AI – 46 industry pros share their 2020 Voice AI predictions | Voicebot.ai
45:01 – VR will continue to make people nauseous in 2020
45:08 – Four (just four?) Creepy Applications That Will Change Your Business In 2020 | Inc.com
47:36 – Is Netflix going to be your next bank? | Banking Innovation
49:24 – The moment we've all be waiting for - David and Blake offer up their 2020 predictions! 🎉
49:30 – Nobody's staying in their lane! David says watch out for blurred, crossed, and muddied lines more than ever.
50:59 – According to Blake, 2020 is the year that one of the GL players - think QuickBooks, Xero, et cetera - becomes a bank.
52:28 – David's no-brainer prediction - Xero and Sage will have to launch their own version of Live product to compete with QuickBooks Live. Mark his word! (For the record, Blake disagrees)
54:24 – Podunk is not the proper nomenclature, David ... 😁

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How California's new privacy and contractor laws could affect you Jan 05, 2020

Show notes

Sponsors

OnPay: http://cloudaccountingpodcast.promo/onpay

OnPay is offering an exclusive promo code only for the listeners of The Cloud Accounting Podcast to get three free months of OnPay payroll service for any of your clients that you set up by February of 2020! Visit the sponsor link, and use code "CAP3FREE" to take advantage of this offer!

Show Notes

01:48 – When it comes to staying organized, there’s only OneNote for Blake
04:24 – This one time, at Pod Camp ... David’s reminiscing about the early days of podcasting
06:00 – Laws, laws, everywhere – We talk about what’s new for 2020 in California - Assembly Bill 5, and the California Consumer Privacy Act
10:31 – Who's gonna drive you home? Uber argues that they’re not “really” a ride service
13:34 – Time to get your CPA? Certain recognized professions, such as accounting, may be exempt from the AB 5 requirements
14:23 – A refresher on European data protection laws | European Commission
16:48 – The devil’s in the data – just how much data will businesses be required to provide to consumers? | NYT Bits Newsletter
21:11 – Multifactor authentication, anyone? Moss Adams is the latest to report a data breach | Accounting Today
25:27 – Receipt Bank rakes in $73M in new funding with an eye towards tackling the US market | Enterprise Times
27:58 – Show me your AI … Google’s latest AI innovation targets breast cancer detection | WSJ
32:15 – Face value – H&R Block targets our need for personal interaction with its new software offering | Accounting Today
34:01 – Top tips for 10-year Customers here | SaaStr
34:33 – Apparently, accounting clients do not have commitment issues! | Accounting Today
37:06 – There’s gotta be better way than a 100-percent interest rate on small-biz loan! biz | PYMNTS
39:02 – They’re going the distance – the IRS updates 2020 mileage rate |Small Business Trends
39:13 – Perhaps the FASB fears change? WSJ
40:31 – In the meantime, however, this is what FASB’s working on for 2020 | WSJ
43:21 – Big Four, Big Tech, Big To-Do About Nothing? | Bloomberg Tax
46:46 – Stats abound
50:20 – Stayed tuned! Predictions are coming! Really! Before the end of the year! We promise!

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Reflecting on a Decade of Cloud Accounting Jan 01, 2020

Show notes

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OnPay: http://cloudaccountingpodcast.promo/onpay

Show Notes

00:54 – Smart and Smarter? A look back at smartphones over the years | Reuters
01:03 – Tech years = dog years – we look at some of the massive changes that have taken place over the last decade | WSJ
06:05 – Seven tech and marketing predictions that fizzled out over the past 10 years | Econsultancy
13:29 – Small online businesses are still scrambling in the wake of Wayfair | WSJ
17:59 – Scott Greenberg’s decade review of federal tax policy in tweets | Twitter
18:49 – In case you missed it, here are some Accounting Standards Updates issued by FASB back in December 2019 | FASB
19:03 – Three Considerations for Cloud Computing Accounting Rules | CFO
21:00 – Who ya gonna call? QuickBooks Live Bookkeepers, hopefully … | YouTube
23:06 – QuickBooks Live is making an impression, or 734 million-plus impressions, according to AdAge | AdAge
25:57 – A “glitch” caused a delay in Federal Reserve direct deposits | CNBC
29:10 – It’s actually “Athleta …”
29:20 – Want to work in retail? You might want to brush up on your app skills! | NYT
36:20 – How invested are firms in tech? | Accountancy Age via Ryan Lazanis' weekly newsletter, Future Firm Top 5
38:38 – The marketing and high-growth connection for accounting firms | Bill.com
43:56 – Got some holiday cash burning a hole in your pocket? Check out our snazzy merch store!

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Should you buy Bill.com stock? Dec 21, 2019

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OnPay: http://cloudaccountingpodcast.promo/onpay

Show Notes

01:59 – What’s in a name? Ask Richard Kopelman, CEO of Aprio | Aprio
04:07 – The U.S. can’t seem to tear itself away from using paper checks, but Australia can! | Eureka Report
04:57 – Another review! Thank you, Karen Bertrand!
06:05 – Bill.com’s best share price, according to Jim Cramer | CNBC
07:03 – Is there an acquisition in Bill.com’s future? Some traders think so | Quartz
- Actual article title: “Why Bill.com’s stock is soaring, while other IPOs sink”
09:27 – Are there any reasons to avoid buying up Bill.com shares? | Forbes
11:16 – California’s credit score could be crumbling | The Sacramento Bee
13:25 – Summit Hosting acquires iNSYNQ’s assets in the wake of this year’s ransomware attack | MSSP Alert
15:45 – Liberty Tax’s parent pays a pretty penny to settle with the Justice Department, and IRS | Accounting Today
17:57 – An unethical culture breeds unethical behavior – check out our discussion with Kelly Richmond Pope in Episode 139 for a refresher!
18:26 – QuickBooks launches Starling Bank integration for SMEs | AltFi
18:53 – Who really owns your data? The PNC v. Venmo battle raises that question | CNBC
- And more insight on the war between banks and fintechs | WSJ
20:25 – Communication really is key – Withum CEO sends motivation via email | Accounting Today
21:40 – Time to weight in! Go take Intuit’s rate survey now! | Firm of the Future
23:31 – Can you get any satisfaction from CAS? | Accounting Today
25:38 – PaySauce/Xero collaboration – Great for New Zealand; So-so for U.S. | Reseller News
26:12 – Farming industry as a niche for U.S. accountants? Probably not the most lucrative row to hoe | USDA
27:13 – You better check your breaches, especially if you or your clients use Zynga! | Firefox Monitor
- 27:52 – More insight on data breaches here | Forbes
- 29:07 – And suddenly, there came a ringing … Is your Ring Doorbell account letting everyone in?
30:00 – Keep it on the downlow! Some companies don’t feel the need to disclose their boo-boos | WSJ
36:03 – We predict happier news is coming your way, next episode!

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CPA licensure evolves at an evolutionary pace Dec 16, 2019

Show notes

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OnPay: http://cloudaccountingpodcast.promo/onpay

Show Notes

01:57 – The gentlemen discuss a big reveal at the Digital CPA Conference – a proposed revamping of the CPA licensure model and what it could mean!| AICPA
06:14 – With more specialization, CPAs will now be more useful to employers!
09:04 – Although the AICPA says there’s been a boost in diversity, it’s still falling a bit flat | AICPA
11:26 – QuickBooks Live adds a standalone set-up service feature | Firm of the Future
12:38 – Hook, line, and Amazon … Check out our Amazon discussion in Episode 138
16:28 – Another review! Thank you! 📝😊
17:38 – The best technologies for CPAs - if you’re still living in the year 2000 | Journal of Accountancy
21:12 – Show me the money … Someday? Please? California can’t account for its cash | Forbes
26:46 – Oracle may have missed the earnings mark, but the cloud gives them a silver lining | CFO
28:17 – Bill.com’s IPO is winning! | CFO
29:59 – The fintech v. bank wars continue – with a lopsided proposed data-sharing agreement | Bank Innovation
32:53 – JPMorgan Chase partners with Yodlee to offer customers more control of their data | Business Wire
34:41 – If banks don’t step up their game, the likes of Intuit and Xero will find their own solution | AccountingWEB UK
36:10 – Eight to 14 percent of Americans own crypto – meaning the time for crypto-tax solutions is now! | CPA Practice Advisor
41:20 – A one-stop shop for all your payroll and HR needs? QuickBooks Online Payroll rolls out Elite Payroll, a full-stack offering | Accountex Report
41:46 – Find your way around tax forms quicker with Xero’s Map Accounts to Tax Lines feature | Xero
42:38 – Intuit’s Pro Series rolls out some new and maybe not-so-new features | AccountingWEB
43:44 – This point-of-sale really ties the room together and helps cannabis distributors be more zen | Yahoo! Finance
44:01 – More on the conundrums of cannabis in Cali in Episode 113
45:55 – It may be the season of giving, but to whom, and how much does one tip?

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The Coaches 🎙 Live at QuickBooks Connect Dec 13, 2019

Show notes

Sponsors

Intuit QuickBooks https://cloudaccountingpodcast.promo/quickbooks

Show Notes

00:57 – Meet the coaches - Michael Palmer, Michelle Weinstein and Heather Townsend!
01:41 – The number-one concern for accountants and bookkeepers - the art of pricing
02:44 – Heather provides a different perspective on the definition of value pricing
03:52 – Michelle encounters many accountants who want to double revenue without working on their mindset first
04:23 – Michael shares two key factors to getting value pricing right - self-worth and education
06:23 – Heather says it's about overcoming the mental blocks first, and then focusing on the growth
07:31 – A hard pill to swallow - learning to see your own, or your firm's own value
08:58 – Setting your prices too low will ensure that you never get the time to provide true value
09:30 – Michelle says it's often the oldest 'legacy' clients that take up the majority of your time, with little to no profit
11:04 – If you don't choose to deliver value, your competitor will
12:14 – In addition to seeing your own value, Heather says it's about freeing up the capacity and time
13:43 – With so many tasks moving to automation, Blake sees capacity in terms of relationships, and the time it takes to maintain those
15:29 – Heather runs down a short list of things to micromanage when you want to build your value capacity
17:20 – When you're an 'accountingpreneur,' as Michelle names it, there's nobody there holding your hand. It's up to you to learn these skills and tactics and get things done
18:45 – If you're perfectly fine with being comfortably numb, you'll never be able to challenge the status quo
20:04 – Short-term sacrifices lead to long-term payoffs
20:53 -- Find the one thing you can focus on right now, and just do it. Simple, right?

Connect with Michael, Michelle, and Heather

Michael Palmer, Ceo of Pure Bookkeeping North America
- Twitter: https://twitter.com/1michaelpalmer
- LinkedIn: https://www.linkedin.com/in/coachpalmer/?originalSubdomain=ca
- Website: https://purebookkeeping.com/us/
Michelle Weinstein, Consultant and Founder of The Pitch Queen
- Twitter: https://twitter.com/thepitchqueen
- LinkedIn: https://www.linkedin.com/in/michelleweinstein/
- Website: https://www.thepitchqueen.com/
Heather Townsend, Founder of Accountants Millionaire Club
- Twitter: https://twitter.com/HeatherTowns
- LinkedIn: https://www.linkedin.com/in/heathertownsend/
- Website: http://www.accountantsmillionaire.club

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Meet Blake and David in person!

We're currently all out of dates for 2019 📆 Want to book us for your event? Check out our prospectus, or get in touch for more info! 🧾👀

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Episode Art Photo Credit:
Will Farnell:

https://twitter.com/willfarnell
https://twitter.com/willfarnell/status/1191506218424176640/photo/1

The Legends 🎙 Live at QuickBooks Connect Dec 13, 2019

Show notes

Sponsors

Intuit QuickBooks https://cloudaccountingpodcast.promo/quickbooks

Show Notes

01:25 – Meet the legends!
02:54 – Our guests share their biggest takeaways from QuickBooks Connect 2019
03:04 – For Michelle, it's AAA - apps, automation, and AI
03:28 – For Laura, it's the evolution of advisory
03:47 – Clayton's takeaways included latest iterations of cloud evolution and getting ready for new opportunities
04:54 – Clayton sheds some light on what he's doing now
06:04 – Laura's got her head and her firm in the cloud!
06:59 – Michelle's recent focus revolves around app selection and integration along with consulting and training
09:05 – What's changed since the very first QuickBooks Connect?
09:49 – Michelle's seen a huge improvement in networking over the years
10:18 – Just because you hit legend status doesn't mean you stop learning new things!
10:30 – Laura see a shift to development now that the majority have found their way to the cloud
11:16 – Clayton thinks people are moving away from "appstraction" and moving towards action
12:41 – After all the hype of cloud fades, you can now focus on the actual productivity
14:44 – More talk of what's to come for these three

Connect with Michelle, Clayton, and Laura