VISTANCE VIDEO LIBRARY
Want more engaging insight? We’d like to think we’ve put out some creative, entertaining videos in regards to accounting tips, advice on the struggles of running a small business, and even comedy skits in regards to the way the accounting industry has let down small business owners. You can also learn more about our company and founder, with some personal stories. There’s a lot of videos to watch, so scroll down and enjoy.
Check out our videos below
The Need for Better Accounting: The Vistance Origin story (2:05)
OUR DEFINITION OF GOOD ACCOUNTING (1:49)
Why Did we name our company Vistance? (1:11)
If you look up the word “vistance” in the dictionary…it’s not a real word. So, what’s the meaning of our name? In this quick video, we break down the creative process of renaming our company, the meaning of the word vistance and how it applies to the work that we do.
HALLOWEEN SPECIAL - THE SCARIEST DECISION OF MY CAREER (2:52)
UNLEASH YOUR ENTREPRENEURIAL SUPERPOWER (1:12)
The vistance approach (4:15)
This video is a collection of clips from podcasts, lectures, and our short comedy webseries that pretty much sums up our approach to accounting, and what separates us from the other accounting firms out there.
Based on very unfortunate situations that some of our new clients have found themselves in, we’ve made this PSA in hopes of warning as many people as possible. When you sign up with an accounting firm, they often offer to set up an accounting system on your behalf, which seems convenient. But you put them in the driver’s seat as the administrator, giving them full control of your data. This video goes into full detail about horror stories about this and how to avoid it.
In an ideal business world, entrepreneurs should be able to look at their financial statements and understand how profitable they are. However, many accountants who service entrepreneurs employ a lazy approach known as “cash-based accounting”: taking bank statements and processing all transactions based on the timing of cash flows, rather than when the actual services took place.
There is a far more effective method that all accountants should be practicing and that’s “accrual-based accounting”: logging expenses and revenues based on the time of when they were incurred; not when the cash was paid out or received. P&L statements with this method paint a far more accurate picture of how profitable a business is, and will help immensely when having to make informed decisions about expanding the business, hiring new staff or cutting costs.
increase your profit with operational accounting (1:57)
Every business ultimately wants to profit. Many businesses will put too much focus on sales and revenue. But profit has two sides of an equation -> sales & expenses. Expenses are much easier to control than generating new sales. This video dives into using OPERATIONAL ACCOUNTING as a tool to greatly increase your profitability, rather than constantly chasing new revenue streams.
Properly Calculating Your Gross Profit Margin (1:35)
Knowing your gross profit margin is very important, as it ultimately tells you about the financial health of your company. While you probably know what a gross profit margin is, are you sure you’re calculating it properly?
In working with small businesses, we have often seen the same mistakes made over and over again when it comes to factoring variable costs, and the little nuances of properly calculating your gross profit margin. With that said, here’s a quick dive into everything to consider when calculating your gross profit margin and of course, how to calculate it.
WHAT IS THE OPPORTUNITY COST OF NOT INVESTING IN ACCOUNTING? (2:28)
While it’s ideal for every business to save money, there are some things where it’s worth spending the money for premium service, for the long-term health of your business. Accounting is one of those things, and is very often neglected.
You may think you’re saving money with a cheap bookkeeper or inputting all the invoices yourself into QuickBooks. But, it’s important to think about the long-term. Accounting is very complicated and if you don’t have experts looking after your finances and advising you, the cost to your business can be detrimental. Here’s a cautionary tale of what can go seriously wrong.
A REAL PAIN IN THE ASSETS: NOTICE-TO-READER: A FALSE SENSE OF SECURITY (1:39)
Do you have an accountant who shows up once a year to do a notice-to-reader financial statement? Don’t let a notice-to-reader lull you into a false sense of security. They are the cheapest form of a financial statement, and have limitations and potential inaccuracies. Fully understanding the disclaimer and what exactly accountants do is important.
A REAL PAIN IN THE ASSETS - INTANGIBLE ASSETS (1:11)
A Real Pain in the Assets is about accounting mistakes that can truly cost small businesses a lot of money. In this cautionary tale… intangible assets. What happens when you fail to record these properly into your balance sheet?
4 questions to ask before hiring your accountant (6:21)
Daryl Ching, founder of Vistance Accounting (formerly Vistance Capital), has spent 10 years operating and consulting for small businesses as a CFO. In this video, Daryl shares 4 questions to ask before hiring an accountant for your business – so you can find the right solution for all your accounting needs.
what is a fractional cfo? (0:45)
What is a FRACTIONAL CFO and how can it greatly benefit your business? Imagine being able to benefit from the knowledge and expertise of a part-time CFO who could look at your business from a strategic financial point of view. Hiring a full-time CFO can be cost-prohibitive, which is why we offer the flexibility of short-term contracts and part-time services that meet your budgetary needs.
In addition to accounting services, we also offer budgeting, management reporting, and implementation of financial controls to ensure your cash is being spent responsibly.
is a fractional cfo right for your business? (2:26)
The CFO is often the very last executive position hired by small businesses. We get it. Sales, marketing, and operations are extremely important things to focus on…but so is managing your cashflow, and truly understanding the health of your business before making big decisions.
Accounting is a complicated world, and you need to trust experts, who know how to use accounting as a tool to build a solid foundation. But we hear you. It’s very expensive. $200k a year for a full-time CFO is a big investment. But…there is a much more affordable option, and it’s called a fractional CFO. We’re here to level the playing field for small businesses.
the cfo irony (2:09)
The irony in the business world is that you’ll see CFO’s in Fortune 500 companies, but it truly is the early-stage companies that absolutely need a CFO far more urgently than everyone else. Check out this video to learn more about the massive benefits for early-stage entrepreneurs to hire a CFO, or perhaps a fractional CFO, as the more affordable option.
One Simple Method to Turn your Employees into Leaders (1:33)
Grants and subsidies for R&D in canada (1:29)
If you’re building something innovative that doesn’t exist in the marketplace, Canada is a great place when it comes to grants and subsidies. It’s important to know what grants could take your company to the next level. Is your accountant on top of this information?
what's the most important asset in your business? (1:25)
The most important asset we spoke of is often the most neglected by entrepreneurs. Many CEO’s are incredibly stingy when it comes to this, when they shouldn’t be. This asset is the lifeblood of every business, and if you try to cut corners and don’t properly invest in this asset…it’s simply not sustainable for the long term well being of your business. What is this we speak of? Daryl Ching gives his 2 cents…
irresponsible growth: A cautionary tale of growing your business too fast (1:11)
CAN FINANCIAL PROJECTIONS MAKE OR BREAK MY CAPITAL RAISE? (1:48)
When it comes to entrepreneurs pitching investors, the weakest part of the presentation is often the financial projections and can often result in not getting funding. However, if you have solid financial projections that you can properly explain to investors, you put yourself way ahead of the crowd. Watch this video for a deep dive into getting this aspect right in your investor presentations.
the harmony of a good business partnership (1:11)
You have a vision. You’ve spent countless sleepless nights, contemplating the questions. Are you prepared for all the stress, hard work, and uncertainty that lies ahead? Should you start your own business? You’ve spoken to your friends from your Marketing and Sales class about running it together, but is that the best idea? Who you choose as your business partners will have an immense impact on how well your business does, so you want to choose wisely. Well… here’s what we have to say on the subject matter…
building a sales forecast (1:30)
If you’re a business owner, struggling with planning, budgeting and making the right business decisions, we don’t blame you. It’s so difficult to predict the future. However, as you drive down this uncertain road, a roadmap can help guide you, and that very roadmap…is a sales forecast.
In this video, Daryl does a quick dive into what to do for your sales forecast, the benefits of setting goals and hitting benchmarks, and the measure of his success – his sales funnel.
4 Typical Weaknesses in Pitch Decks for Investors (3:49)
Daryl Ching has spent 10+ years in investment banking and another 10 years operating small businesses. In this video, Daryl shares what he’s seen as the 4 typical weaknesses in pitch decks for investors.
5 Major Financial Mistakes & How to Solve them (10:44)
Daryl is interviewed by Phil Pallen, where he shares five of the most common financial mistakes that entrepreneurs make, and how you can avoid them.
bad accountant ep. 1 (of 3) - i can't believe your accountant never told you about this (3:21)
THE CHALLENGE…can we make accounting funny? So, we got some very funny actors together and shot three skits…based on horror stories our clients have told us about working with other accountants.
The things that accountants just don’t bother to tell their clients…it’s mind boggling. Well, here’s a story about one of those negligent accountants. The amount of money his client’s business could have, if only he wasn’t such…a bad accountant.
bad accountant ep. 2 (of 3) - surprise bills (3:12)
Are you ready for this accounting hot take? Get this. Surprise bills and fee hikes… are bad. Charging clients for things they never agreed to…basic common sense says that’s an awful way to treat your clients, but we see this behavior all the time from big accounting firms. So, in this episode of Bad Accountant, we take an inside look at one of these accounting firms, as we uncover the atrocity known as…the surprise bill.
bad accountant ep. 3 season finale - notice to reader: my accountant sucks (6:05)
Escape room owners, Dave and Jono had a big investor meeting. They don’t understand this accounting stuff, but they got their Uncle Potter to do their notice to reader; he’s a CPA. What can go wrong? Well…not only did they learn at the meeting that their financials were completely inaccurate, but those very investors openly pointed and laughed at the dejected entrepreneurs. What the hell went wrong?
Well, they finally got a hold of Uncle Potter who’s been avoiding their calls for a week, and now, they need answers, damnit! While these characters are fictional, this story has happened to many entrepreneurs.
unsolved miseries ep. 1 (of 2) - the curse of the lazy accountant (8:00)
Let’s just face facts. Many accountants suck at their jobs when it comes to helping entrepreneurs, whether it’d be negligence, laziness, or simply doing the bare minimum. We made this comedy mini-series, to call the accounting industry out on their B.S, and decided to do a little spoof of Unsolved Mysteries (where Daryl tries his best to channel his inner Robert Stack)
This is the story of Jono and Dave; two entrepreneurs who run the best escape room in the city, but their business has one fatal flaw…A LAZY ACCOUNTANT! While this story is fictional, the accounting problems depicted…ARE VERY REAL.
Unsolved Miseries ep. 2: the curse of the under-valued balance sheet (5:49)
In episode 2…Due to familial conflicts, Jono reluctantly re-hires Uncle Potter. They plan to sell their business, so Uncle Potter does their financials and they show, but the offers they get are offensively low. Their business should be worth so much more. What happened?
With Uncle Potter sound asleep before they could get to the bottom of this, they decide to call Daryl Ching of Vistance back to solve the mystery of the curse of their under-valued balance sheet.
Mastering the Balance: Strategic Money Management for Canadian SMEs with Daryl Ching (22:46)
Daryl Ching makes an appearance on the Small Business Podcast, for a deep dive into strategic money management. In this interview, Daryl discusses:
-An in-depth look at Money Management as a pivotal business tool, and using operational accounting to increase profits.
-Daryl’s impressive journey from Western’s Honors Economics to investment banking.
-The Vistance origin story: Real-life experiences from multi-billion dollar deals to small business financial nuances.
-Exclusive insights on effective financial management strategies.
Biz Money Talks with Tracey Bissett featuring Daryl Ching (28:34)
It is so important for business owners to understand their financial position, proactively manage it and plan for the future. In this episode, Daryl talks with Tracy Bissett about what business owners need to know about navigating this area of their business and raising capital.
Rev up your business podcast with Hilda Gan - s05 e26: How to Get Your Company's Financials Investor Ready (36:19)
Are you worried about the finances of your company? Do you want to be successful in securing the funds to grow your business to the next level? For business owners, a comprehensive understanding of company finances is necessary in order to secure funding from bankings or investors, but is too often overlooked.
In this episode, Daryl Ching is interviewed by Hilda Gan, where he shares tips for small business owners on how to get their finances in order, the importance of cutting overlooked expenses, looking at accounting as a value-added expense, why people are your greatest assets, and more!
Canadian SME small business podcast - Maximizing Small Business Value with Daryl Ching (20:25)
CanadianSME Small Business Podcast invited Daryl back, this time for an in studio interview by Maheen Bari.
They discuss:
– key factors that small business owners should consider when evaluating their company’s value and dispels common misconceptions about business valuation.
– Insights on how business owners can separate personal emotions from the objective process of assessing their business’s value.
– Strategies and best practices in accounting that small business owners can use to maximize their business’s value.
– Discussion on specific financial metrics and ratios crucial for evaluating a company’s performance and potential value.
– Key accounting and financial documentation needed for small business sale or investment preparation.
– Resources and advice for small business owners to enhance their financial literacy and optimize their business’s value.
What is my small business worth and how do I use accounting to Maximize my profit? [2023 Canadian Small Business Summit: keynote speaker - Daryl ching] (35:49)
Daryl Ching was the keynote speaker at the 2023 Canadian SME Small business Summit at the Toronto Metro Convention Centre.
Business Valuations can be so subjective, especially for early stage companies that have not turned a profit. What are the variables that early stage investors (high net worth, angel, VC) look for to determine valuation?
In this presentation, Daryl goes through the key components of an investor presentation and how each part of the story can influence valuation.
He also speaks about how a small business can use accounting to its advantage to maximize its valuation. If you are planning to raise capital either through an equity raise, apply for a loan, or IPO, this presentation will help you get ready.
NAAAP Presentation: Shades of Entrepreneurship (40:00)
Are you thinking about starting a business? In conjunction with NAAAP, Vistance provides a presentation on all considerations to make from personal attributes and considerations and the steps to take for the highest chance of success in launching a business.
