Two Drunk Accountants

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: twodrunkpodcast@gmail.com

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: twodrunkpodcast@gmail.com 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 twodrunkpodcast@gmail.com.   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: twodrunkpodcast@gmail.com 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: twodrunkpodcast@gmail.com Insta: https://www.instagram.com/twodrunkaccountants/ Youtube: https://www.youtube.com/@TwoDrunkAccountants    

This week Tim give his tips for running a small business and having a young family while Dan with no kids plays devils advocate.   Sponsored: Accsouce - email john.m@accsource.net to receive 30 day free trial.

This week Tim and Dan tackle a common questions when starting a family business, can I hire my spouse or kids? Can I distribute income to them? 

This week Tim and Dan play another round of everyones favourite new game Show Us Ya Books! Can Tim guess the business correctly? Will he make a fool of himself? Do we wish we invested in this company? Find out!

This week Dan reveals why he and Tim have bad blood, we begin our question for Xerocon tickets and discuss why using the immediate write off over COVID might come back to cost you more tax now. 

Its the end of the year as we know it, and Tim and Dan have made a little jingle to help you remember what you need to do before 30 June! Plus we discuss the top 10 things you consider before 30 June. 

Dan and Tim dodge death, battle a rogue office mouse, and somehow tie it all back to gratitude and balance sheets. In their new segment "Show Us Your Books," they crack open Lehman Brothers’ financials like a cold one—revealing red flags, dodgy debt, and the truth behind “growth.” Laughs, lessons, and a little light accounting—what more could you want?