The Accounting Podcast

We've got a lot to talk about today, including how accounting first-year salaries are on the rise, and what Kabbage did to become under investigation for PPP fraud. In raises, we've got news on Collective's $20 million raise (in part from Ashton Kutcher) to support conquering the S corp freelancer market, and Relay Financial's $19 million raise to support their modern banking services focused on the accountant's use case, while Lili raises a cool $55 Million for helping freelancers tackle their expenses, and access credit. We're also talking about employee engagement in light of WeWork's CEO's comments on the subject, and diving into the subscription-based world we now find ourselves in. All this and much more!

Show Notes

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Show Notes

02:15 – $58,508: The Average Starting Salary for New Accounting Grads
https://www.goingconcern.com/58508-average-starting-salary-new-accounting-grads-2021/
 
3:44 – Fintech Startup Offers $500 for Payroll Passwords 
https://krebsonsecurity.com/2021/05/fintech-startup-offers-500-for-payroll-passwords/
 
6:07 – Railz Raises $12 Million Toward API Development
https://www.pymnts.com/news/investment-tracker/2021/railz-raises-12m-toward-api-development/
 
8:04 – Kabbage, FinTechs Under PPP Distribution Scrutinyhttps://www.pymnts.com/loans/2021/report-kabbage-fintechs-under-justice-department-scrutiny-for-ppp-loan-distribution/
 
DOJ reportedly investigating Kabbage, fintech lenders, over PPP loanshttps://www.bankingdive.com/news/doj-reportedly-investigating-kabbage-fintech-lenders-over-ppp-loans/599888/
 
11:37 – Collective, a back-office platform for the self-employed, raises $20M from Ashton Kutcher’s VChttps://techcrunch.com/2021/05/12/collective-a-back-office-for-the-self-employed-raises-20m-from-ashton-kutchers-vc/
 
14:37 – Announcing Collective $20M Series A to Support the Rise of Businesses-of-One — Collective Blog
https://www.collective.com/blog/news/collective-20-million-series-a/

15: 51 – Blake’s discussion on Collective with CAP listener, Michael Eckstein
 
17:29 – The Collective Disclaimer
https://www.collective.com/
 
20:45 – Banking App Lili Raises $55 Million To Help Freelancers Tackle Expenses, Access Credit
https://www.forbes.com/sites/ninawolpow/2021/05/11/banking-app-lili-raises-55-million-to-help-freelancers-tackle-expenses-access-credit/
 
25:56 – Xero FY21 revenues rise 18% to £432m | Newshttps://www.accountancytoday.co.uk/2021/05/13/xero-fy21-revenues-spike-18/
 
26:03 – Xero scores subscriber surge despite slowed revenuehttps://www.accountantsdaily.com.au/business/15693-xero-scores-subscriber-surge-despite-slowed-revenue
 
Xero’s FY21 through the eyes of our customers and people | Xero Bloghttps://www.xero.com/blog/2021/05/fy21-through-their-eyes/
 
Xero’s full year 2021 financial results
https://www.xero.com/blog/2021/05/full-year-2021-financial-results/
 
32:25 – Digital bank Relay raises $19.4 million to automate financial management for small business
https://www.prweb.com/releases/digital_bank_relay_raises_19_4_million_to_automate_financial_management_for_small_business/prweb17934174.htm
 
37:55 – Sage's profits fall 30%, but accounting software boosts organic revenues | This is Money
https://www.thisismoney.co.uk/money/markets/article-9578771/Sages-profits-fall-30-accounting-software-boosts-organic-revenues.html
 
39:50 – Introducing the Subscription Economy Income Statement
https://www.subscribed.com/read/subscription-strategy/introducing-the-subscription-economy-income-statement?fbclid=IwAR2WHUUr4bE9pe0EUtHze0PuCBP3SpQdogHC3Z78YnvZvJhHOOMr1iywzSo
 
42:52 – WeWork CEO Says Least Engaged Employees Enjoy Working from Home
https://www.accountingtoday.com/articles/irs-needs-more-than-audits-to-find-tax-cheats-former-chief-says
 
45:07 – Driving Engagement in a Remote Work World
https://www.cfo.com/workplace-issues/2021/04/driving-engagement-in-a-remote-work-world/
 
46:53 – The hybrid workplace probably won’t last - The Boston Globe
https://www.bostonglobe.com/2021/05/09/opinion/hybrid-workplace-probably-wont-last/


Get in Touch

Thanks 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, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040


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Creators & Guests

Host
Blake Oliver
Founder and CEO of Earmark CPE
Host
David Leary
President and Founder, Sombrero Apps Company

What is The Accounting Podcast?

The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.