Two Drunk Accountants

This week we chat about director penalty notices and how to avoid them! With the ATO issuing more and more DPN's we discuss what they are and how to avoid becoming personally liable for your company's tax debts!

Links:

Youtube: https://www.youtube.com/@TwoDrunkAccountants

Instagram: https://www.instagram.com/twodrunkaccountants/

Website: https://twodrunkaccountants.com.au

Email: [email protected]

This week Tim and Dan discuss your most important investment and that is your time. We recently attended a talk by Kate Christie about ways to save time, and you know we love a time-ass-tip, so discuss what we learned from this awesome session. 

Links:

Youtube: https://www.youtube.com/@TwoDrunkAccountants

Instagram: https://www.instagram.com/twodrunkaccountants/

Website: https://twodrunkaccountants.com.au

Email: [email protected]

This week we discuss 5 pieces of the data that you will likely overlook that will greatly increase your risk of being reviews or audited by the ATO. 

Links:

Youtube: https://www.youtube.com/@TwoDrunkAccountants

Instagram: https://www.instagram.com/twodrunkaccountants/

Website: https://twodrunkaccountants.com.au

Email: [email protected]

ATO Industry Code Finder: https://www.ato.gov.au/calculators-and-tools/businesses-industry-code-tool

This week we tackle another set of financial statements from an interesting point in time, Twitter circa 2021. Tim has seen them, Dan has not. Can he answer whats good, whats not good, what is the industry, what is the business and would he invest? Find out as we deep dive and analyse Twitters financials! 

Don't forget you can submit your anonymised financial statement for us to review on a future episode of Show us ya books! by emailing them to [email protected].

Links:

Youtube: https://www.youtube.com/@TwoDrunkAccountants

Instagram: https://www.instagram.com/twodrunkaccountants/

Website: https://twodrunkaccountants.com.au

This week we recap our time at Xerocon! We rehash the fun times and of course all the product announcements from Xero this year. We chat to Angad Soin Manage Director of Xero Australia and NZ and Chief Global Strategy Officer and debrief with friend of the pod Heather Smith! 

This week Dan is joined by Liam Hindle Head of Product Marketing at MYOB to discuss their Accounting Industry Monitor report. We discuss what they found the best firms were doing in areas like talent retention and tech/AI. Links:

MYOB Accounting Industry Monitor Report - Here

Website: https://twodrunkaccountants.com.au/

Instagram: https://www.instagram.com/twodrunkaccountants/

Youtube: https://www.youtube.com/@TwoDrunkAccountants

Chapters 00:00 Introduction and Humor in Accounting

02:44 The Impact of COVID on Health Awareness

05:35 Overview of the MYB Accounting Industry Monitor Report

08:18 Talent Shortages in the Accounting Industry

11:05 Investing in People and Processes for Growth

13:52 Automation and Technology in Accounting Practices

14:56 The Importance of Client Engagement

17:07 Enhancing Client Onboarding Experiences

19:06 Navigating AI in Accounting 21:00 The Evolving Role of Accountants

22:49 Adapting to Technological Changes

23:37 AI Innovations in Accounting Software

26:30 The Future of Agentic AI

27:48 Practical Applications of AI in Accounting

This week we go full clickbait and discuss how you can deduct your home loan interest. We cover the general mistakes peoples make when borrowing against their home for investments and the issue around lending this money to a discretionary trusts. We also discuss our hair for an extended period.

Website: https://twodrunkaccountants.com.au/

Instagram: https://www.instagram.com/twodrunkaccountants/

Youtube: https://www.youtube.com/@TwoDrunkAccountants

This week Tim and Dan discuss how we are currently using AI in our business and what we are finding it can and can't do. 

Website: https://twodrunkaccountants.com.au/

Youtube: https://www.youtube.com/@TwoDrunkAccountants

Socials: @twodrunkaccountants

This week Tim and Dan cover the updated superannuation laws taxing unrealised gains. We also discuss some other tax reform being discussed in the lead up to the Economic Reform Roundtable...which we have not been invited to. 

Website: https://twodrunkaccountants.com.au/

Email: [email protected]

Insta: https://www.instagram.com/twodrunkaccountants/

Youtube: https://www.youtube.com/@TwoDrunkAccountants

This week Tim and Dan go full mythbusters style and discuss the viral videos doing the rounds about whether you can use your tax to pay down your mortgage. Will it be true? Will it be busted? Find out this week. 

Website: https://twodrunkaccountants.com.au/

Email: [email protected]

Insta: https://www.instagram.com/twodrunkaccountants/

Youtube: https://www.youtube.com/@TwoDrunkAccountants