Transcript of #AcctgChat for November 13, 2009. Accounting Chat is a twitter chat for accountants and other professionals interested in discussing news, ethics, standards, software and more on Twitter. Follow: @AcctgChat for more Blog: http://AcctgChat.com

1. AcctgChat: One hour until the world's first Accounting Chat on Twitter: #AcctgChat - more details
here - http://bit.ly/3mM3jw
11/13/2009 11:24
AcctgChat: Welcome everyone to #AcctgChat! If you're new to these Twitter chats it may take a bit to
get used to them. See next few tweets...
11/13/2009 12:31
AcctgChat: Think of Twitter chats as Serendipity Engines: they're ways of rallying around topics, meet
others & share ideas #AcctgChat
11/13/2009 12:32
AcctgChat: So let's get started with introductions! Tell us about yourself - what you do, what you're
passionate about. Pitch urself in 140 #AcctgChat
11/13/2009 12:34
WChrisLeach: Chris Leach, Dir. of Finance at Washburn University. Passionate about baseball and my
hatred of cash flow statement. #AcctgChat
11/13/2009 12:36
IGAFWorldwide: Exec. Dir. of a global accounting association. Dipping a toe into the social media pool.
#AcctgChat
11/13/2009 12:36
AcctgChat: @WChrisLeach lol - been through direct method hell long ago. Welcome! #AcctgChat
11/13/2009 12:37
michellegolden: Thrilled to be able to join the very first #acctgchat Join now!
11/13/2009 12:37
dhelwig: Debra Helwig w/ IGAF Worldwide, an assn of acctg firms; passion - connecting folx at
great firms & sharing ideas abt prof svcs #acctgchat
11/13/2009 12:38
WChrisLeach: Not only direct method, but GASB 34 direct method. Financing broken down between
capital and noncapital.... #AcctgChat
11/13/2009 12:38
AcctgChat: @IGAFWorldwide Welcome! One goal of these chats is to help the profession get up to
speed with social media. #AcctgChat
11/13/2009 12:38
AcctgChat: OK, first topic coming up in one minute. We'll have 3 topics. Please prepend your
response with the topic number (T1, T2, etc.) #AcctgChat
11/13/2009 12:40
Schneider_Downs: MKT Spvr @ firm with 340+ empl.,offices in Pittsburgh, Pa & Columbus, OH, offer range
of services: audit to M&A. #acctgchat
11/13/2009 12:40
AcctgChat: T1 Web Literacy: How prepared for the 21st Century is the profession (CPAs, Corp.
Accountants, faculty, etc.)? #AcctgChat
11/13/2009 12:41
Schneider_Downs: Like @IGAFWorldwide, we too are dipping toe into social media pool. #AcctgChat
11/13/2009 12:42
WChrisLeach: T1 Depends on how you define "web literacy". Familiar with web in general? Very
prepared. Familiar w/ acct resources? Not very. #AcctgChat
11/13/2009 12:42
michellegolden: T1 Gotta take this topic: not well-prepared at all! Websites still mostly brochureware and
only 122 CPA bloggers. Not good. #acctgchat
11/13/2009 12:43

2. IGAFWorldwide: T1 We have members (non US) that print email and hand write responses for secretary to
then type - so the answer varies globally #AcctgChat
11/13/2009 12:44
AcctgChat: @WChrisLeach In particular with social media - in terms of leveraging the new tools
(Twitter, blogging, etc.). #AcctgChat
11/13/2009 12:44
BillSheridan: T1 I think they're aware of the *need* to prepare, but most have a lot of catching up to
do. #AcctgChat
11/13/2009 12:44
darcangeloCPAs: T1 - Many of us are obviously web-literate and are helping our Firms, but not sure how
much of the actual profession is prepared. #Acctgchat
11/13/2009 12:45
WChrisLeach: T1 Following up on @michellegolden I can't think of an accounting blog devoting any
significant space to GASB topics. #AcctgChat
11/13/2009 12:45
going_concern: Going_concern: Information hub, gossip column, playground for accountants. #acctgchat
11/13/2009 12:45
IGAFWorldwide: T1: We also have about 1/2 the people on here now - so maybe pretty good! Overall -
too early to tell - amazingly! #AcctgChat
11/13/2009 12:46
WChrisLeach: T1 Like @michellegolden said, mostly brochureware. Some firms have simple calculators
& forms, but not many I've seen. #AcctgChat
11/13/2009 12:46
michellegolden: Agree w/ @WChrisLeach accts don't think FIRST 2 "google it" Miss lots of key info (like
following RSS feeds) #acctgchat
11/13/2009 12:46
dhelwig: If you listen to most (not all) firm mktg professionals, they have an uphill battle to get
firms to buy in, esp to social media #acctgchat
11/13/2009 12:47
AcctgChat: As a follow-up to T1: how are you using the Web?: example: to stay up-to-date,
collaborate, communicate with peers, etc. #AcctgChat
11/13/2009 12:47
Schneider_Downs: T1: Think there is a fear that technology takes away from the personal relationships
#AcctgChat
11/13/2009 12:48
michellegolden: T1 @WChrisLeach ya,don't know of GASB blog either. If you find 1, let me know. I list
many here: www.accountingbloglist.com #acctgchat
11/13/2009 12:48
BillSheridan: BTW, I'm editor w/ Md. Assn. of CPAs, passionate about connecting / collaborating w/
CPAs & turning the social media flywheel. #AcctgChat
11/13/2009 12:48
WChrisLeach: T1 follow-up: Yes. :-) #AcctgChat
11/13/2009 12:48
WChrisLeach: T1 @michellegolden Thanks for the link. I'll check it out. #AcctgChat
11/13/2009 12:49
BillSheridan: @Schneider_Downs T1 Key message: Used correctly, these new tools actually *enhance*
relationships and build new ones. #AcctgChat
11/13/2009 12:50
dhelwig: @billsheridan Exactly, soc med is a tool - nothing more than that - it's not a replacement

3. for other networking etc. #acctgchat T1
11/13/2009 12:50
michellegolden: T1 MD Assn CPAs (@BillSheridan & @tomhood) do a great job using SM. @MNCPA is,
too #acctgchat
11/13/2009 12:51
darcangeloCPAs: T1 - use web to find leads, provide content/value to clients, spread the word about the
firm #Acctgchat
11/13/2009 12:51
Schneider_Downs: Lots of debate about value of social media for B2B especially w/ respect to services. Not
a lot of case studies. #AcctgChat
11/13/2009 12:52
dhelwig: @carcangelocpas AH, but you, @schneiderdowns, @bcgcompany, @hurstaccountant -
only a few firms w/ good presence on Twitter #acctgchat
11/13/2009 12:52
WChrisLeach: T1 @BillSheridan Yes! Sounds trite but fmr employer had objective of giving "high touch,
high tech" srvc; hard 2 do but good goal #AcctgChat
11/13/2009 12:52
AcctgChat: OK - next topic coming up in 2 minutes. You're free to talk about any topic, but just
prepend with topic number. #AcctgChat
11/13/2009 12:52
michellegolden: t1 Great point @dhelwig CPAs often confuse SM tools with "Strategies" and they aren't, in
and of themselves. #acctgchat
11/13/2009 12:52
dhelwig: Typo, sorry @darcangelocpas, @schneider_downs #acctgchat T1
11/13/2009 12:53
retheauditors: I'm in, Sorry got caught on the phone #acctgchat
11/13/2009 12:53
dhelwig: Must run to appointment - GREAT chat - look forward to next week, all #acctgchat
11/13/2009 12:53
michellegolden: t2 important to remember that SM is just a relationship ACCELERANT but that must still
move from "digital" to "personal" #acctgchat
11/13/2009 12:53
AcctgChat: T2 Accounting Software User Experience: What key elements of user experience are a
*must*? What works? What's a disaster? #AcctgChat
11/13/2009 12:54
BillSheridan: @Schneider_Downs T1 Those case studies are in the process of being built as we speak.
#AcctgChat
11/13/2009 12:54
Schneider_Downs: Must run too. Excellent chat. Looking forward to next week. #AcctgChat
11/13/2009 12:55
geoffdevereux: We're always input from #Acctgchat guys to help improve our online reporting software
@indicee. B.I. for non-techies.
11/13/2009 12:55
retheauditors: I'm @retheauditors Blogger , freelance financial journalist and speaker. http://bit.ly/iVGK
#acctgchat
11/13/2009 12:55
AcctgChat: @Schneider_Downs @dhelwig Thanks for stopping by - I'll post a transcript and
announce the next one later. Cheers! #AcctgChat
11/13/2009 12:56

4. WChrisLeach: T2 Found that experience on one pkg doesn't translate to another unless there is a fairly
high degree of knowledge of accounting. #AcctgChat
11/13/2009 12:56
michellegolden: T1 Agree @BillSheridan - can't look to precedent here, must be trailblazers. Nothing
special about being the 5000th adopter! #acctgchat
11/13/2009 12:56
AcctgChat: @retheauditors Great to see you show up - we're on T2 (see previous tweets on this
account). #AcctgChat
11/13/2009 12:57
gtiadvisors: RT @retheauditors: I'm @retheauditors Blogger , freelance financial journalist and
speaker. http://bit.ly/iVGK #acctgchat
11/13/2009 12:57
robpas: Also fun at parties RT @retheauditors I'm @retheauditors Blogger , freelance financial
journalist and speaker. http://bit.ly/iVGK #acctgchat
11/13/2009 12:58
IGAFWorldwide: T2: Biggest complaints - Interface, usability, support, linkage w/other programs. Smallest
compaints - Not enough features. #AcctgChat
11/13/2009 13:00
HumphreyCPA: T2-re: Software-like so many 'old schoolers', we get complacent on the process that
heaven forbid, we have to change #AcctgChat
11/13/2009 13:01
HumphreyCPA: @IGAFWorldwide -Faster is not always better. What works today, might not work
tomorrow. plus does it work with other apps #AcctgChat
11/13/2009 13:02
WChrisLeach: T2 Good point on interface. That's what often gives non-professionals fits when
learning/using a package. #AcctgChat
11/13/2009 13:02
retheauditors: T2 How many are still doing formal software selection for their clients or are clients
skimping on that step? #acctgchat
11/13/2009 13:03
cpaboise: @retheauditors I still do software selection and installation and setup and training for
clients #acctgchat
11/13/2009 13:05
AcctgChat: Next topic coming up in 1 minute. #AcctgChat
11/13/2009 13:09
AcctgChat: T3 Influence of Big Four: How has consolidation affected the profession (standards,
ethics, practice) over these 20 years? #AcctgChat
11/13/2009 13:10
IGAFWorldwide: T3: Monopolies and monopsonies tend to misbehave - Anyone care to start the list of
emprical or anecdotal examples ;-)! #AcctgChat
11/13/2009 13:15
cpaboise: T3 Big 4 and ethics, practice: reminded us why we are called certified *public*
accountants, our duty is to public first #acctgchat
11/13/2009 13:16
AcctgChat: I think we'll be able to squeeze one more topic - coming up in a few minutes. #AcctgChat
Feel free to continue whichever one you'd like.
11/13/2009 13:18
retheauditors: Absolutely RT @cpaboise: T3 reminded us why we are called certified *public*
accountants, our duty is to public first #acctgchat

5. 11/13/2009 13:18
AcctgChat: T4 Promulgation & Political Compromise: How big a factor is political compromise in
FASB (or foreign analogues)? #AcctgChat
11/13/2009 13:21
gtiadvisors: RT @retheauditors Absolutely RT @cpaboise T3 reminded us why we are called certified
*public* accountants, duty to public first #acctgchat
11/13/2009 13:29
AcctgChat: WOW! An hour's up. Not bad for a first run of #AcctgChat! Thank you all for stopping by.
Transcript of chat will be up in abit.
11/13/2009 13:31
retheauditors: Oh, I could go on... One word: Oligopoly RT @AcctgChat: T3 Influence of Big Four:
#AcctgChat
11/13/2009 13:32
BillSheridan: Thanks for the fun chat! #AcctgChat
11/13/2009 13:33
AcctgChat: The times for #AcctgChat are not yet in stone. I will pick a few different ones over the
weeks to get a pulse of what's best.
11/13/2009 13:33
AcctgChat: Next #AcctgChat is Thursday 11/19 8:30pm EST.
11/13/2009 13:34
IGAFWorldwide: Thanks to all - from tiny acorns....etc. etc. #AcctgChat
11/13/2009 13:35
AcctgChat: @BillSheridan Sure, my pleasure! Thanks for stopping by - next one is Thursday 11/19
8:30pm EST. Transcript will be up later. #AcctgChat
11/13/2009 13:35
michellegolden: Thanks for the convo! #acctgchat
11/13/2009 13:36