Accounting
Art of Accounting: Complaint about the price of my memoirs
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I received a complaint recently that my Memoirs of a CPA book is priced too high. The paperback edition is $24.95, the Kindle version is $5.99 and, if you have Kindle Unlimited, it’s free. Actually, I do not think the Kindle version or Kindle Unlimited is priced too high. As for the paperback version, I wonder how low it would need to be priced for that person to buy it.
I buy a lot of books. My purchases are split between Kindle e-books and hard copies. I just bought a book titled Artemisia Gentileschi and the Business of Art for $65. Maybe that’s a lot to pay for a book about a woman who lived from about 1593 to 1654. A brief bio is that she was raped when she was 18 by a friend of her father and then at the trial underwent torture to prove that she was a virgin before she was raped. Anyway, she became very successful with her paintings, charged higher than standard prices and was a great marketer of her skills and her brand. This book is about how she ran the business of her art, an offbeat topic especially from a 17th century artist. I figure that if I get one idea from this book, it will be well worth the price.
At the same time, I know the value of my Memoirs book and cannot imagine any reader not getting a bunch of immediately usable ideas on how to make more money, run their practice better, provide clients with greater value, keep staff a little longer or have more fun. Perhaps I should have given the book away for free, only asking the reader to send me a check for what they think the value was to them. I think I’d then make way over a million bucks from this book!
The following are two short chapters from my book:
Being a sounding board to your clients
Entrepreneurs are the brightest, most focused, and most determined people I know. But it is also lonely for many of them.
There are few people they can trust, and sometimes they just need a sounding board of someone who won’t pass judgment but might point out inconsistencies or illogical conclusions. That is a role for CPAs and part of their trusted advisor position, and occasionally great things come out of it.
I have been in many meetings where the client did not want an opinion but needed to hear him or herself speak out loud to someone. CPAs are there for that. We listen, consider, sometimes prod, don’t pass judgment, and keep it confidential. We seem to know when clients want our advice — which is often — but we also know when to nod occasionally and be that sounding board. And sometimes opportunities arise!
One Friday morning, a client asked to see me. He owned a very large piece of land on an island in the Caribbean that his newly married fourth wife decided she wanted to develop. He wanted to see me so he could vent, rant and beg for a solution out of it.
In the course of his tirade, I latched onto something he said and suggested a plan that might make a lot of sense. I told him that upscale houses could be built just inside the perimeter, while the entire remaining inside portion of the property, which comprised over 75% of the area, could be donated to a wildlife preserve charity on that island. The tax deduction would be enormous because it would be based on the value created by the property sales and not his cost, plus he could add an easement restriction to the donation that prohibited any additional development on the property. The houses he built would have extended gigantic private beautiful “back yards,” increasing his selling price and allowing the client to get paid “twice” for his property — and become a philanthropist as well. It was a short meeting, about a half hour.
When I got back to my office, the client’s secretary called me. In the short time it took me to walk to my office, she arranged for me to fly to the island Monday morning, have a look around the property that afternoon, meet with an attorney, real estate agent and developer on Tuesday, have some follow-up and unrelated meetings Wednesday (that led to the client getting involved in more businesses on the island) and a return flight home early Thursday morning. That was the first of a number of visits by me to that island for the client.
The takeaway is that many times, CPAs help clients make lemonade out of lemons. But we have to be trusted, knowledgeable listeners and creative thinkers.
My boss hated the client
Early on, my boss took me to a client that I was to work on. He started to explain what needed to be done and what the client did, but then he said, “I hate this client — everything is always messed up, and nothing ever makes sense!” He also told me my work area would be in the factory. I would probably have to move a chair next to a carton that would serve as a desk, and he warned me the lighting wasn’t too good.
His remarks were like a kiss of death. For the next three or four months, I dreaded going to that client, always thinking how “messed up they were, and nothing ever made sense.” Then, it dawned on me that I was the person doing the work, and things were in order. The carton I worked on was a few feet from where the client packed his shipments. When he did, he always chatted with me about his business, customers, employees and pricing strategies.
He also told me things he liked to do, such as going to the opera (which I did too) and vacations he took or would like to take. The client also would buy me a sandwich to have lunch with him, and I became very friendly with him. And then I asked myself why I dreaded going there? I loved working there! It became my favorite client, that I eagerly looked forward to going to.
My boss’s idle remark prejudiced me against the client, and it took me months to get over it.
The takeaway for me was that when I would become a boss, I would only say great things about a client, influencing the staff to like the client and look forward to working with them. Negative remarks about a client never left my lips! Actually, negative remarks were never applicable — my clients were all great! My boss ingrained a negative perception about that client into me before I ever had a chance to form my opinion.
My book has 100 more chapters with similar ideas you could adopt.
Do not hesitate to contact me at
Jody Padar, an author and speaker known as “The Radical CPA,” and Katie Tolin, a growth strategist for CPAs, together launched a training and technology platform called XcelLabs.
XcelLabs provides solutions to help accountants use artificial technology fluently and strategically. The Pennsylvania Institute of CPAs and CPA Crossings joined with Padar and Tolin as strategic partners and investors.
“To reinvent the profession, we must start by training the professional who can then transform their firms,” Padar said in a statement. “By equipping people with data and insights that help them see things differently, they can provide better advice to their clients and firm.”
The platform includes XcelLabs Academy, a series of educational online courses on the basics of AI, being a better advisor, leadership and practice management; Navi, a proprietary tool that uses AI to help accountants turn unstructured data like emails, phone calls and meetings into insights; and training and consulting services. These offerings are currently in beta testing.
“Accountants know they need to be more advisory, but not everyone can figure out how to do it,” Tolin said in a statement. “Couple that with the fact that AI will be doing a lot of the lower-level work accountants do today, and we need to create that next level advisor now. By showing accountants how to unlock patterns in their actions and turn client conversations into emotionally intelligent advice, we can create the accounting professional of the future.”
“AI is transforming how CPAs work, and XcelLabs is focused on helping the profession evolve with it,” PICPA CEO Jennifer Cryder said in a statement. “At PICPA, we’re proud to support a mission that aligns so closely with ours: empowering firms to use AI not just for efficiency, but to drive growth, value and long-term relevance.”
The accountant the world urgently needs has evolved far beyond the traditional role we recognized just a few years ago.
The transformation of the accounting profession is not merely an anticipated change; it is a pressing reality that is currently shaping business decisions, academic programs and the expected contributions of professionals. Yet, in many areas, accounting education stubbornly clings to outdated, overly technical models that fail to connect with the actual demands of the market. We must confront a critical question: If we continue to train accountants solely to file tax reports, are we truly equipping them for the challenges of today’s world?
This shift in mindset extends beyond individual countries or educational systems; it is a global movement. The recent announcement of the
The CIMA/CGMA proposal for 2026 is not just a curriculum update; it is a powerful manifesto. This new program positions analytical thinking, strategic business partnering and technology application at the core of accounting education. It unequivocally highlights sustainability, aligning with IFRS S1 and S2, and expands the accountant’s responsibilities beyond mere numbers to encompass conscious leadership, environmental impact and corporate governance.
The current changes in the accounting profession underscore an urgent shift in expectations from both educators and employers. Today, companies of all sizes and industries demand accountants who can do far more than interpret balance sheets. They expect professionals who grasp the deeper context behind the numbers, identify inconsistencies, anticipate potential issues before they escalate into losses, and act decisively as a bridge between data and decision making.
To meet these expectations, a radical mindset shift is essential. There are firms still operating on autopilot, mindlessly repeating tasks with minimal critical analysis. Likewise, many academic programs continue to treat accounting as purely a technical discipline, disregarding the vital elements of reflection, strategy and behavioral insight. This outdated approach creates a significant mismatch. While the world forges ahead, parts of the accounting profession remain stuck in the past.
The consequences of this shift are already becoming evident. The demand for compliance, transparency and sustainability now applies not only to large corporations but also to small and mid-sized businesses. Many of these organizations rely on professionals ill-equipped to drive the necessary changes, putting both business performance and the reputation of the profession at risk.
The positive news is that accountants who are ready to thrive in this new era do not necessarily need additional degrees. What they truly need is a commitment to awareness, a dedication to continuous learning, and the courage to step beyond their comfort zones. The future of accounting is here, and it is firmly rooted in analytical, strategic and human-oriented perspectives. The 2026 curriculum is a clear indication of the changes underway. Those who fail to think critically and holistically will be left behind.
In contrast, accountants who see the big picture, understand the ripple effects of their decisions, and actively contribute to the financial and ethical health of organizations will undeniably remain indispensable, anywhere in the world.
Congressional Republicans are siding with Donald Trump in the messy divorce between the president and Elon Musk, an optimistic sign for eventual passage of a tax cut bill at the root of the two billionaires’ public feud.
Lawmakers are largely taking their cues from Trump and sticking by the $3 trillion bill at the center of the White House’s economic agenda. Musk, the biggest political donor of the 2024 cycle, has threatened to help primary anyone who votes for the legislation, but lawmakers are betting that staying in the president’s good graces is the safer path to political survival.
“The tax bill is not in jeopardy. We are going to deliver on that,” House Speaker Mike Johnson told reporters on Friday.
“I’ll tell you what — do not doubt, don’t second guess and do not challenge the President of the United States Donald Trump,” he added. “He is the leader of the party. He’s the most consequential political figure of our time.”
A fight between Trump and Musk exploded into public view this week. The sparring started with the tech titan calling the president’s tax bill a “disgusting abomination,” but quickly escalated to more personal attacks and Trump threatening to cancel all federal contracts and subsidies to Musk’s companies, such as Tesla Inc. and SpaceX which have benefitted from government ties.
Republicans on Capitol Hill, who had — until recently — publicly embraced Musk, said they weren’t swayed by the billionaire’s criticism that the bill cost too much. Lawmakers have refuted official estimates of the package, saying that the tax cuts for households, small businesses and politically important groups — including hospitality and hourly workers — will generate enough economic growth to offset the price tag.
“I don’t tell my friend Elon, I don’t argue with him about how to build rockets, and I wish he wouldn’t argue with me about how to craft legislation and pass it,” Johnson told CNBC earlier Friday.
House Budget Committee Chair Jodey Arrington told reporters that House lawmakers are focused on working with the Senate as it revises the bill to make sure the legislation has the political support in both chambers to make it to Trump’s desk for his signature.
“We move past the drama and we get the substance of what is needed to make the modest improvements that can be made,” he said.
House fiscal hawks said that they hadn’t changed their prior positions on the legislation based on Musk’s statements. They also said they agree with GOP leaders that there will be other chances to make further spending cuts outside the tax bill.
Representative Tom McClintock, a fiscal conservative, said “the bill will pass because it has to pass,” adding that both Musk and Trump needed to calm down. “They both need to take a nap,” he said.
Even some of the House bill’s most vociferous critics appeared resigned to its passage. Kentucky Representative Thomas Massie, who voted against the House version, predicted that despite Musk’s objections, the Senate will make only small changes.
“The speaker is right about one thing. This barely passed the House. If they muck with it too much in the Senate, it may not pass the House again,” he said.
Trump is pressuring lawmakers to move at breakneck speed to pass the tax-cut bill, demanding they vote on the bill before the July 4 holiday. The president has been quick to blast critics of the bill — including calling Senator Rand Paul
As the legislation worked its way through the House last month, Trump took to social media to criticize holdouts and invited undecided members to the White House to compel them to support the package. It passed by one vote.
Senate Majority Leader John Thune — who is planning to unveil his chamber’s version of the bill as soon as next week — said his timeline is unmoved by Musk.
“We are already pretty far down the trail,” he said.
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