Accounting Basics for Entrepreneurs with Jody Padar


Show Summary

Welcome to Episode 76 of the Profit First Podcast! In this episode we discuss the accounting basics that every entrepreneur needs to know. When you’re working with an accountant, what questions should you be asking them? How often should you be meeting with them? Do you understand the different key financial statements and is your Accountant explaining them to you? How can you more towards forecasting and predicting how your business financials will be? Jody Padar and Mike Michalowicz give us the entire formula to making sure you get that right with your Accountant. Tune in!


Our Guest 

Jody Padar

Jody Padar is one of the accounting profession’s foremost visionaries and pioneers. She is CEO and Principal of the New Vision CPA Group, a public accounting firm based in the Chicago area. Jody is the author of “The Radical CPA: New Rules for the Future-Ready Firm,” a book that sparked a movement within the profession.

As an author, lecturer, coach, consultant, and mentor, she advocates for progress and innovation in the business world, heralding a new way of thinking about the practice of accountancy and giving it new purpose. Having successfully transformed her own firm into a technologically advanced and cloud-driven work environment, she is now dedicated to educating her fellow colleagues on how to make the same transition.

Embracing the cloud, social media, and other highly advanced technologies and practices, Jody is out to alter the way CPAs think about firm culture and serve their clients via speaking engagements, podcasts, published articles, and ‘screaming it from the rooftop.’ A true change agent, Jody continues to initiate conversations and encourage open collaboration between the profession and vendors in order to support the movement toward a newer, better, and more innovative CPA firm culture. As a result, she founded the profession’s popular IC Opportunities events in 2012.

Jody is a regular contributor to a number of industry publications, including CPA Trendlines and Accounting Today where she offers practical tips and advice on running a next-generation firm. Jody has been named by Accounting Today as “the Top 100 Most Influential to the Profession” for the last five years and was named as one of 2015’s Top 10 Money & Finance Writers on LinkedIn’s inaugural Top Voices list. She has written for Forbes (where she was named as one of the Top 100 Must-Follow Tax Twitter Feeds), The Washington Post, is a regular contributor to Intuit’s QuickBooks’ Blog, and has been interviewed by Inc., CNNMoney, Entrepreneur, and the International Business Times. In addition, Jody was recently named among Hubdoc’s Top 50 Cloud Accountants of 2015. She has more than 8,500 followers on her personal Twitter account and a growing LinkedIn following of more than 20,000.

Jody earned her BBA from Saint Mary’s College and MST from Northern Illinois University. She is also an adjunct professor at Oakton Community College and a contributing member of the Intuit Trainer Writer Network. Jody is a member of the American Institute of Certified Public Accountants where she is serves on the AICPA Tech + Committee. She is also a member of the Maryland Association of Certified Public Accountants.


Show Links

Joy’s Blog: The Radical CPA Blog

Twitter: @JodyPadarCPA and @theradicalCPA

Jody on Facebook

Jody on LinkedIn


Mike Michalowicz will be speaking at Scaling New Heights 2016 ( #SNH16 ) at the BEAUTIFUL Atlantis on Paradise Island in the Bahamas!

May 22-25, 3016

For more information on this conference and to register, click here!


Corporate Partners

Nextiva – VOIP phone providers for small businesses.

Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.

TSheets – The #1 customer rated time tracking solution!

Fundbox –  the simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.


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