We live in the information age.
We can ask Google (or Alexa) anything. What gets too little time is fact-checking. Advice is requested in Facebook groups and taken at face value without checking the credentials of those offering the advice. Companies like Intuit and Freshbooks are actively dumbing down accounting. Freshbooks is advertising they are making accounting “approachable,” quite literally undermining the accountants they ask to join their partner program to help sell their products. What hasn’t changed is generally accepted accounting principles, GAAP, which is the rule book all accountants follow. No matter how pretty the screens in Quickbooks, 17Hats, Xero, Dubsado, etc., GAAP is GAAP. Period.
Let’s do some myth busting. Continue reading