Rewind : Accounting, It Needs to be a Universal Skill like Reading and Arithmetic w/ Peter Frampton

Join us as we revisit this conversation from 2020!

We’ve heard the phrase that it’s a small world or a global economy, well for Peter this is more than just a phrase, it’s an opportunity to help everyone understand and appreciate the accounting model and he is ready to make it happen.  Not only is he a world traveler but he has also created an accounting course that is fun and interactive which is used in schools around the world as well as fortune 500 companies to train management.

Listen as Peter and Roger discuss the evolution of this process and how it applies to the accounting profession.  Also see what you can do to apply these skills to better work with your clients to help them use the information they receive from you to make better business decisions.

 

Your Host: Roger Knecht, president of Universal Accounting Center

Our Guest: Peter Frampton

Peter Frampton chairs the board of Color Accounting International. He is passionate about supporting people to improve their accounting literacy - which is the foundation of the Accounting, Finance & Business trinity.

The privately owned company and social enterprise is the publisher of a breakthrough learning technology that makes understanding accounting easy. At the heart of the technology is a diagram called the BaSIS Framework™. The graphic shows finance and accounting on a single page. The Framework does for accounting what the Macintosh did for computers: it makes the subject intuitive and easy for anyone to understand and use.

Peter is the co-author of two published Color Accounting books. He is on the adjunct faculty of American University in Washington DC, where he teaches in the School of International Service.

Peter and Color Accounting have worked with names you’ll likely recognize, such as Morgan Stanley, Goldman Sachs, Westinghouse, Caterpillar, SHRM, ASTD, Harvard Business School, Wharton, Georgetown University, Maryland Association of CPAs, the SEC, dozens of the top-100 US and British law firms, and with numerous entrepreneurs and incubators, as well as hundreds of accounting teachers and professors in high schools and universities.

Color Accounting International works with Partners to deliver training in over 40 countries.

Sponsors:

Universal Accounting Center

• Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.

 

Color Accounting International

• What they do: Finance and business acumen workshops for non-financial people using a breakthrough graphical system.
• The Mission: People are empowered to make wise decisions, collaborate effectively and amplify value – a financially conscious world.

Color Accounting International is a publishing company, a licensing company and education provider.  They've developed and distribute the Color Accounting® learning system. They work with a network of accredited Partners and different languages around the world.

They are a social enterprise, with a dual social-impact and commercial motive.  They advocate accounting as a fundamental form of literacy, like Reading, Writing and Arithmetic. Accounting literacy has the power to improve lives, corporations, not-for-profit organizations and governments.

The Color Accounting Network includes:

• Sales Partners, who provide educational workshops for their corporate clients
• Corporate Educators, who are accredited by us to facilitate events run for corporate clients
• Academic Educators, who teach accounting in educational environments such as schools and universities.

 

Offers:

Get a FREE copy of each of two book all accounting professionals should use to offer trusted strategic advisory services and get paid what they are worth.  These are must have additions to every accountants library to provide the value clients look for today:

• “in the BLACK, nine principles to make your business profitable” – e-book
• “Red to BLACK in 30 days – A small business accountant’s guide to QUICK turnarounds” – the how-to-guide e-book for accounting professionals

Enroll in Color Accounting – experience the accounting module in a new interactive way.  Learn how accounting works in business and how to easily discuss it in layman’s terms, avoiding the confusion common with debits and credits.

Accounting Comes Alive - “Accounting Comes Alive has the advantage of showing how accounting works visually. As such, I believe that it is of value to anyone who is interested in understanding accounting, from high school students to undergrads to MBAs to business executives." – Professor Paul Healy, Harvard Business School

Get your BaSIS poster - BaSIS? It's an acronym of Balance Sheet and Income Statement.

In a nutshell it provides a top-down single-page graphical view of accounting. Its unique layout has the debit and credit accounts grouped by 'sides' and then color-coded. Once the students learn how the framework works, it becomes a powerful tool for 'pointability' - the ability for the teacher, or the student, to simply point at the model to emphasize a question or make a point, for example: "Is it here (pointing to assets) or here (pointing to expenses)?" You can also use it to teach debits and credits, for T-accounts, underpin financial analysis (see the ratios), teach how the general ledger and general journal entries work, provide accounting literacy and much more.

It's also been called:

• ​A teaching and communication tool.
• A visualizer for accounting.
• Accounting on a page.
• Top-down view of a General Ledger.

Remember this, Accounting Success IS Universal.

Listen to our next episode and be sure to subscribe.

 

For more information on how you can apply these principles in your business please visit us at www.universalaccountingschool.com

or call us at 801.265.3777