The Woodard Report Podcast: Featuring Heather Day and Joe Woodard

On this show, Heather speaks with Naomi Granger and Bruce Anderson about the cannabis industry from a financial and regulatory standpoint.

About Naomi: Naomi Granger, CPA, MBA, is a seasoned accounting professional with over 18 years of experience, who has dedicated the last seven years to serving the cannabis industry exclusively. Naomi's passion for this growing industry has led her to work with dozens of operators and provide training to over 700 accounting professionals eager to expand their knowledge and skills in servicing cannabis clients.

About Bruce: Bruce Andersen founded CannabisCPA.Tax which is a premier boutique resource to the legal cannabis industry in the areas of tax, audit, accounting, and consulting. The firm is based in Los Angeles with the bulk of its client base in California. The firm also has clients in twenty other cannabis friendly states. The firm's client base includes cultivators, distributors, retailers, and manufacturers. It is a division of AndersenCPA.Com.

Here are a few key points from their conversation:

• Growth and Complexity of the Cannabis Industry
• Navigating Legal and Regulatory Frameworks
• Accounting and Banking Challenges in the Industry
• Future Outlook and Growth Potential of the Industry
• Education and Resources for Accountants through the National Association of Cannabis Accounting and Tax Professionals (NACAT Pros)

Thank you to our show sponsor!

• Rightworks — All your accounting apps, unified in the cloud

Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Heather speaks with Kelly Richmond Pope about her intriguing journey into forensic accounting, her experiences with fraud, and the human elements that complicate financial crimes. Here are a few key points from their conversation:

• Kelly Richmond Pope's Background

• Her Early Interest in Accounting

• A Personal Anecdotes of Learning About Fraud

• Professional Encounters with Fraud

• Discussion on Whistleblowers

• Impact of Fraud on Victims and the Role of Emotional Connection

• Advice on Vigilance Against Fraud

• Changing Dynamics in the Accounting Profession

• Combining Passions and Careers

Kelly's work includes:

• Fool Me Once - A book by Kelly on Amazon
• All the Queen's Horses - A documentary by Kelly available on YouTube
• More accountants are leaving the field than joining. What's going on? - A BigThink talk by Kelly

Thank you to our show sponsor!

• Rightworks — All your accounting apps, unified in the cloud

Learn more about the show and our sponsors at Woodard.com/podcast

On this show, Joe speaks with Randy Crabtree about the critical elements of fostering a positive company culture, its impact on professional mental health, and its significance in the business environment. Randy Crabtree, co-founder of Tri-Merit Specialty Tax, host of the Unique CPA podcast, and a renowned speaker in the accounting industry, shares his insights and experiences on building a culture that promotes mental wellness and productivity. Here are the key points from their conversation:

• The Importance of Leadership in Cultivating Company Culture

• Defining Positive Company Culture

• Micromanagement vs. Empowerment

• The Balance Between Process and Flexibility

• Outcome-Based Work Environment

• Employee Empowerment and Role Fit

• The Financial Benefits of a Positive Culture

• Diversity and Inclusivity in Building Company Culture

Don't forget to check out the book mentioned during the podcast.

• Measure What Matters by John Doerr

Thank you to our show sponsors!

• Expensify — The expense management app that does it all, for every business
• Rightworks — All your accounting apps, unified in the cloud

Learn more about the show and our sponsors at Woodard.com/podcast

On this episode, Heather and Joe discuss how we do not always get things right with technology. Through experience (and a few genuine mistakes), they share the 5 technology fails most prevalent in your firm. They are:

• Locally stored files
• Lack of security (policies, solutions, and systems)
• Lack of process
• Old hardware
• Lack of vetting with software solutions (e.g. SOC2 or equal standards)

As a bonus, here is an IRS document called, "Creating a Written Information Security Plan for your Tax & Accounting Practice"

TV/Movie Segment

• "We're not just numbers in a spreadsheet. We're people with lives, families." – Christine Bates from Mr. Bates vs The Post Office
• "Lawyers are the swords of this century. Words are weapons now. I need you to learn how to use them." – John Dutton from Yellowstone

Book Segment

• Firm Forward by Edi Osborne
• Amazon link

Favorite Social Posts

• "The trick isn't to get away from the pain. The trick is to find something so important that the pain ceases to matter at all." —Mark Manson on Twitter/X

The Woodard Report Article

• 4 Key Questions Bookkeepers Have for Their Clients' Tax Professional

Thank you to our show sponsors!

• Expensify — The expense management app that does it all, for every business
• Rightworks — All your accounting apps, unified in the cloud

Learn more about the show and our sponsors at Woodard.com/podcast

On this episode, Heather and Joe discuss Beneficial Ownership Information (BOI) requirements and how they may — or may not — affect your firm. This new compliance reporting requirement for businesses is meant to enhance transparency but it comes with a number of questions and caveats.

TV and Movie Quotes mentioned:

• Resident Alien (TV)
• Blackberry (movie)

Books mentioned:

• Title: The Ideal Team Player
• Author: Patrick Lencioni
• Amazon Link: https://a.co/d/6zzDYA5

Favorite Social Posts:

• https://twitter.com/JStaatsCPA/status/1761085927345242459
• https://www.linkedin.com/posts/adriandparker_your-company-doesnt-have-a-diversity-problem-activity-7168981738910601216-9iMh/

Thank you to our show sponsors: Expensify — The expense management app that does it all, for every business Rightworks — All your accounting apps, unified in the cloud

Learn more about the show and our sponsors at Woodard.com/podcast

On this episode, Joe speaks with Dave Kersting, CEO of Capovario. Dave drew an incredible response from the audience at Scaling New Heights by delivering a knockout presentation based on his personal life experiences and how those experiences have helped shape his business sense. Community is at the core of both Dave's conversation with Joe and his business, Capovario.

Thank you to our show sponsor: Expensify — the expense management app that does it all, for every business

Learn more about the show and our sponsors at Woodard.com/podcast

On this episode Joe is joined by one of the most esteemed minds in the world of physics, Dr. Michio Kaku. He will be joining us on stage this year at Scaling New Heights!

Dr. Kaku has written several books including The Physics of the Impossible. He has appeared on the History Channel television show, The Universe. His most recent works include information about Artificial Intelligence, quantum computing, robotics in business, and the impact these changing technologies have on culture.

Most recently, he wrote the book Quantum Supremacy: How the Quantum Computer Revolution Will Change Everything

Thank you to our show sponsor: Expensify — the expense management app that does it all, for every business

Learn more about the show and our sponsors at Woodard.com/podcast

What is it that sets you apart from competitors? That is, what is the secret sauce that your firm brings to the world? There are several ways to differentiate your practice from the rest of the competition so in this episode Joe and Heather dive into how you stand out. If you don't currently stand out, how should you? Ultimately, this requires you to answer the question, "What is your vision, mission, and purpose?"

(Hint: Being the low cost leader is not the answer.)

Thank you to our show sponsor: Expensify — the expense management app that does it all, for every business Learn more about the show and our sponsors at Woodard.com/podcast

Is you price the right price and what are the hidden costs that cause you to be less profitable than you should be? This episode is based on the strategic pricing workshop offered by Woodard. We've seen people go through the workshop and find $50,000 to $75,000 in underpricing (or more!). The people who come to this workshop have no idea how grossly underpriced their services can be. Overcome the fear factor and learn from Joe and Heather about how to take action.

Thank you to our show sponsor: Expensify — the expense management app that does it all, for every business Learn more about the show and our sponsors at Woodard.com/podcast

On this episode, Heather and Joe talk about the psychodynamics of client relationships, otherwise known as taking the power back in client relationships. There is a pyschological power struggle in any relationship and it takes on a unique angle when it comes to Client Accounting Services. This isn't about a power trip or ego struggle. This is all about balance.

Thank you to our show sponsor: Expensify — the expense management app that does it all, for every business Learn more about the show and our sponsors at Woodard.com/podcast