What AI Will Automate In Accounting with Erica Goode, CPA

FTX had 80,000 transactions in Ask My Accountant; the crazy cost accounting behind EY's failed breakup; using ChatGPT for financial statement analysis; what the tech world thinks AI will automate in accounting and more! Sponsors

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Chapters

(00:00) - CAP 329

(00:39) - PREVIEW: How ChatGPT saved Erica

(01:09) - Introduction

(07:48) - FTX had 80,000 transactions in Ask My Accountant

(12:04) - Blake plays a clip from the All-In podcast on AI accounting

(17:25) - ChatGPT vs real accountants and students on tests

(25:48) - Hector Garcia's example of using ChatGPT for analysing financial statements

(31:24) - Is Erica using ChatGPT at all in her firm?

(36:18) - EY breakup news

(42:13) - Donna's voicemail on her sons college tour and accounting majors

(48:18) - Deloitte kicks off program for high school students to earn accounting credits

(49:29) - Can AI help save education?

(52:48) - The IRS shows customer service improvements in 2023

(54:22) - Are accountants actually experiencing a better tax season?

(01:01:49) - Crazy MYOB commercial

(01:03:41) - Wrap up and where to reach everyone

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Show Notes Blake Oliver on Twitter: "My speaking session was selected for #Expensicon” https://twitter.com/BlakeTOliver/status/1649440639355097088   SURVEY: Busy Season Looking Good - CPA Trendlines          https://cpatrendlines.com/2023/04/10/survey-busy-season-looking-good/   EY Confronts Slowing Growth After Breakup Deal Fails - WSJ           https://www.wsj.com/articles/ey-confronts-slowing-growth-after-breakup-deal-fails-9442c85d   Magic Workflow: AI-Powered Workflow and Process Generator    https://clienthub.app/blog/new-feature-magic-workflowai-powered-workflow-and-process-generator/   Ernst & Young has axed its plan for a split of its auditing and consulting arms, marking a dramatic and costly retreat                 https://www.wsj.com/articles/ernst-young-halts-breakup-plan-bd2e2fa0

Is that the IRS with your refund? No, it's a ChatGPT scam https://www.politico.com/newsletters/weekly-tax/2023/04/17/is-that-the-irs-with-your-refund-no-its-a-chatgpt-scam-00092169   Taylor Swift avoided $100 million FTX deal with securities question: lawyer https://www.businessinsider.com/taylor-swift-avoided-100-million-ftx-deal-with-securities-question-2023-4   ChatGPT less than 50% accurate in accounting exams, study finds https://www.accountancyage.com/2023/04/21/chatgpt-less-than-50-accurate-in-accounting-exams-study-finds/ Get in Touch Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040 Need Accounting Conference Info?  Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch

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