Why GAAP is outdated & news from Sage Intacct Advantage

SponsorsOnPay: http://cloudaccountingpodcast.promo/onpayOnPay is offering an exclusive promo code only for the listeners of The Cloud Accounting Podcast to get three free months of OnPay payroll service for any of your clients that you set up by February of 2020! Visit the sponsor link, and use code "CAP3FREE" to take advantage of this offer! Show Notes00:12 – Meet our guest, Ethan Rouen, Assistant Professor of Accounting at Harvard Business School01:27 – The gentleman dissect Ethan’s article, “The Problem with Accounting for Employees as Costs Instead of Assets”01:50 – Blake found a lot of similarities to Baruch Lev’s “The End of Accounting” in Ethan’s article | WSJ02:30 – Using GAAP today is like fixing a Tesla with a Model T manual04:12 – Why the lack of reporting human capital is a huge problem05:32 – Will disclosures on human capital get political? 06:48 – Reporting human capital tells a more compelling story to investors08:21 – Offering high-quality employee development programs is one way to ride out the economic storms | WSJ10:28 – There needs to be a broader range of rules in GAAP for telling the stories of these companies12:04 – The more things change, the more they stay the same, especially where GAAP is concerned13:58 – Nap time for David? Ethan talks about Boeing’s use of program accounting | The CPA Journal15:30 – David finally weighs in – Given the emotional climate of investing, what exactly is GAAP used for? 17:06 – Regardless of investors’ evaluation tactics, Ethan still thinks GAAP is relevant19:10 – Is Ethan a social-media anomaly? 23:04 – More insightful Cloud Accounting Podcast content is on the way! Subscribe now, so you don’t miss out!  23:28 – Innovation is the theme of Sage Intacct Advantage 2019 | GlobeNewswire24:36 – Finance 3.0, Intelligent GL (AI), product announcements, and more key takeaways from the conference28:43 – Sage’s goal is to “eliminate the close …” stay tuned for more insight on this aspiration from Sage CTO Aaron Harris in a future interview30:13 – Some hints about what will become of the AutoEntry acquisition? 32:50 – Mark your calendars! Intacct Advantage 2020 hits sunny Florida!34:15 – Update on the QuickBooks Desktop Payroll discontinuation – So far, it’s only in the UK version! | Intuit QuickBooks35:24 – Billtrust is the latest target for ransomware-ers | Krebs on Security37:16 – Want Higher Profits? Hire a Female CEO, CFO | Korn Ferry39:14 – The opposite of woke … E&Y instructs its female counterparts on the art of dressing and behaving appropriately? | The Huffington Post40:44 – Nuke launches have gone digital … We feel so much safer now | EngadgetConnect with Ethan RouenLinkedIn: https://www.linkedin.com/in/ethan-rouen-16a9551/Website: http://www.ethanrouen.com/Get in TouchThanks 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. Meet Blake and David in person! October 29-30: AcuityCon in AtlantaNovember 5-8: QuickBooks Connect in San JoseNovember 5: Practice Ignition PreCon Party in San JoseNovember 6: VIPartners Party with Gusto, Routable & Jirav in San JoseDecember 9-11: Digital CPA Conference in SeattleLimited edition shirts, stickers, and other necessities.TeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsSpotify: http://cloudacctpod.link/SpotifyGoogle Play: http://cloudacctpod.link/GooglePlayStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/Overcast