CPA Conversations podcast

Nothing can be more injurious to a CPA firm’s reputation – not to mention its bank account – than a client introducing a large malpractice claim. Based on her article for the Journal of Accountancy by Sarah Ference, CPA, risk control director for the accountants program at CNA Insurance, explores the signs that a large malpractice claim could be on the horizon as well as potential damages that can take place if the situation is not handled in a brisk manner.

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The accounting internship is one of the many aspects of the CPA experience that has been changed dramatically by COVID-19. Still, it remains a great way to set a would-be CPA’s career on the path to success, whether it is conducted virtually or in-person. Get tips for ensuring an internship becomes a full-time offer and learn about skills that can be acquired during an internship from our guests, Eryn Conard and Tara Heller of Baker Tilly US LLP.

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Joseph Ragan, professor of accounting and Edward G. Sutula chair in accounting at Saint Joseph’s University Erivan K. Haub School of Business, joins us to talk sustainability reporting and environmental, social, and governance measures. Specifically, he details why businesses are looking at these issues more closely, the specific role CPAs have to play in conservation efforts, and what colleges and universities need to do to prepare students for these changes in the business world.

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Ane Ohm, cofounder and CEO of LeaseCrunch, checks in with an update on lease accounting implementation. She walks us through readiness for compliance, issues affecting debt covenants, and lease modification and concession implications. Does that all get your anxiety up? Don’t worry: Ohm also looks to ease the mind of those stressed out by the approaching implementation deadline.

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Debra S. Friedman, a labor and employment attorney with the Philadelphia law firm Cozen O’Connor, joins us to provide the latest information on OSHA guidelines related to COVID. A few items she highlighted for consideration include inquiries about vaccination status, legality and growth of mandatory vaccines, and continuing rules for masking and social distancing.

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The evolution of the accounting profession requires new and innovative ways to teach aspects of accounting that may have previously received little exposure. One of these that is of growing importance is data visualization. Our guests – PICPA member Michael Ozlanski, associate professor and accounting department chair for Susquehanna University in Selinsgrove, Pa., and Suzanne Seymoure, associate professor of accounting at North Central College in Naperville, Ill. – have made data visualization engaging for their students and received an honor from the AICPA for their efforts. We sat with them to learn more about their approach as well as the award they received.

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Michael Fischer, CFP, director and wealth adviser for Round Table Wealth Management, provides an in-depth exploration of the preliminary proposal recently presented by U.S. House Democrats to fund President Joe Biden’s $3.5 trillion spending package. As part of his examination, Fischer looks at the impact it could have on the tax landscape for individuals, retirees, businesses, and more.

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For many small and medium-sized firms, a consultation with a “high-value” firm can be a nerve-wracking experience that takes them out of their element. In this episode of CPA Conversations, Loren Fogelman, price and profit coach for Business Success Solution, provides tips on the focal points to drive home when delving into the CPA sales process.

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Ira Rosenbloom, chief executive officer of Optimum Strategies LLC in Spring House, Pa., joins us to examine the signs that it might be time for a CPA firm to think about a strategic merger. Among the signs he points to are weak new business, clients getting restless, and referrals beginning to run low.

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Kemberley Washington, CPA, a tax analyst with Forbes Advisor, joins us to discuss the monthly child tax credit. She goes in depth into who qualifies to receive it, whether taxpayers have to repay it, how eligibility is determined by the IRS, and more.

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