Embracing Change and Innovation in the Accounting Industry with Jesse Rubenfeld and Tom Zehentner

The finer details of this episode:

• Evolution of accounting software and early career experiences
• Importance of embracing change and innovation in the industry
• Leveraging technology to streamline accounting processes
• Challenges and opportunities in early career development

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Email us with questions or if you’d like to be a guest on the show: [email protected]
• We’re hiring! Check out our open positions: https://www.summitcpa.net/career-opportunities
• https://www.finoptimal.com/
• https://www.linkedin.com/in/jesserubenfeld/
• https://www.linkedin.com/in/tom-zehentner-cpa-a0591b5b/
• If you love this conversation, don’t miss Hannah and Joey on the FinOptimal podcast, Another Not Another Accounting Podcast: https://podcasts.apple.com/us/podcast/ep-77-young-cpas/id1734624758?i=1000653170191

Timestamps:

The wild west of the internet (00:00:22)

Discussion about the early internet era, LimeWire, and the evolution of music downloading.

Evolution of internet and social media (00:03:03)

Recollection of early internet trends and social media references, including the YouTube evolution of dance video and internet games.

Initial experiences with computer games (00:04:08)

Nostalgic conversation about classic computer games like Civilization and Age of Empires.

Transition to accounting and QuickBooks (00:05:14)

Discussion about the unexpected transition to accounting over the internet and QuickBooks online.

Adapting to change in accounting (00:07:26)

Reflections on the need for a mindset of continuous improvement and embracing change in the accounting industry.

Challenges and rebellion in early career (00:09:18)

The defiance and challenges faced in early career stages and the development of confidence to pursue a better way.

Challenges in traditional accounting firms (00:10:07)

The limitations of traditional accounting firms in embracing new approaches and the unique situation of starting a career at a startup.

The role of an architect in accounting (00:13:25)

The discussion about the architectural role in making accounting more efficient and the rewarding nature of creative problem-solving.

Founding of FinOptimal (00:15:39)

The backstory and founding of FinOptimal, including the challenges and evolution of QuickBooks online.

Transition to QuickBooks online (00:16:39)

Discussion about the transition from QuickBooks desktop to QuickBooks online and the limitations faced in the past.

Software automation in accounting (00:17:06)

The secret to success being software that automates accounting processes and the decision to go with QuickBooks online.

Technology and Business Growth (00:17:28)

Discussion about the development of technology to improve efficiency and competitiveness in the accounting industry.

Challenges in Accounting Software (00:18:21)

Exploration of the challenges and changes in accounting software, including user-friendliness and adaptability to different generations.

Building Automation Tools (00:20:22)

The process of building automation tools and the importance of understanding accounting nuances for effective tool development.

Empowering Young Accountants (00:21:30)

Advice and experiences shared to empower young accountants to drive change and innovation in their roles.

Risk-taking and Entrepreneurial Spirit (00:23:45)

Discussion on the entrepreneurial mindset, risk-taking, and the need for experience in driving improvements and automation in accounting processes.

Generational Perspectives on Technology (00:27:56)

Exploration of generational perspectives on technology, feedback loops, and the impact of social media on business feedback.

Collaboration and Innovation (00:32:30)

The importance of collaboration between different generations and skill sets in driving innovation and experimentation in accounting technology.

Coding and College (00:35:35)

Discussion about coding and the value of learning it in high school and college.

Excel and Coding (00:37:37)

Comparison between accounting and coding, and the potential for accountants to transition into coding.

College Curriculu...