The Accounting Podcast | Visa acquires Plaid & Intuit makes ChronoBooks exclusive to QBO Advanced

Visa acquires Plaid & Intuit makes ChronoBooks exclusive to QBO Advanced

January 19, 2020 / 58:51/E156

Grab a snack, there's a lot to talk about in this episode! We talk about Visa's acquisition of Plaid, how Intuit has made ChronoBooks exclusive to QuickBooks Online Advanced, and Expensify's newest release - Karma Points. We'll also dig into the reasons why FASB is the villain, more consequences of California's Consumer Privacy Act, along with why email is the biggest threat to small business, how even more elaborate frauds are swindling big business, and check fraud. There's discussion about Walmart's attempt at warehouse automation, and why the "Buffet Indicator" may be a fairly reliable warning sign that the stock market is headed for another big crash.

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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

Get in Touch

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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