#216: The 12 Kern Rules of Accounting & Finance Christmas Part 1

witlh Karl Kern


Our Guest Mentor:

Karl Kern is a finance influencer. 

Karl’s role as a finance influencer began as an accountant.  As an accountant Karl has influenced his employers and clients to improve their financial health.  The improvements exist in the form of results. 

Karl Kern has a BBA degree in Accounting from Temple University, an MBA degree with a concentration in Finance from Babson College, and is a member of the Association for Financial Professionals (AFP).  As a finance influencer Karl has an approach suitable for your organization and its challenges.  Karl is always interested in a challenge.  

Key Quotes From the Episode: 

 [Setting up your priorities] being organized by doing the one important thing every day and everything follows through it. [06:26] 

The more things change the more it stays the same.[7:32] 

Disorganization breads unnecessary mistakes.[19:45] 

(Other resources and how to connect with Karl below). 

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Key Points From the Episode:

-Changes to Finance and Accounting priorities overtime 

-Maximize the positive and minimize the negative 

-Determining what’s essential to your company and align those to move finance and accounting forward 

-Do not look too far because you cannot see what’s close 

Time Stamped Show Notes 

[04:09Karl shares his career journey being in accounting related position in private companies for 15 years then moved to private consulting services as trouble shooter to medium sized companies on their FPA and financial reporting. Served as adjunct lecturer to number of colleges and contributing to number of organization with finance and accounting articles. 

[05:49Insights from 12 current rules for Christmas as Karl experience it personally and professionally.  

[07:15Life is about priority, being the core of Karl’s existence.  

[08:28] Changes to Finance and Accounting priorities overtime.  

[09:36] From ERP, SAP to PeopleSoft, Artificial Intelligence and now Blockchain changes in the type of technology. 

[10:59Determining what’s essential to your company and align those to move finance and accounting forward. 

[12:37] – Maximize the positive and minimize the negative.  

[15:19] – Getting better every day is more satisfying than trying to be better than others. 

[17:30] – Your actions say everything with less talk. 

[19:03] – Procrastinating on taking actions and failure to determine priorities.  

[21:11] – The first place to look is the mirror, as Karl shares how he came up with this rule.  

[24:07] – The chid must walk before it run and must crawl before it walks by doing the fundamentals first before you progress to the next level.  

[26:32] – Regulatory and compliance services are fundamental to the business especially to publicly traded companies.  

[27:41] – Do not look too far because you cannot see what’s close.  

Resources Mentioned: 

Website: https://www.cfodive.com/ 

Books:  Amazon Hardcover  

Toyota Production System: Beyond Large-Scale Production by Taiichi Ohno 

https://www.amazon.com/Toyota-Production-System-Beyond-Large-Scale/dp/0915299143/ref=sr_1_2?keywords=toyota+production+system&qid=1576380339&s=books&sr=1-2 

Amazon Hardcover 

Thinking, Fast and Slow by Daniel Kahneman  

https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374275637/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1576380494&sr=1-1 

Connect with today’s guest: 

LinkedIn Profile: https://www.linkedin.com/in/karlhkern/ 


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