Don Jr. Explains GAAP & Why No One's Going Into Accounting

Blake and David dig into the use of AI agents in solving problems, emphasizing the effectiveness of assigning different roles to the agents and having them interact with each other to reach satisfactory results. They also discuss the latest accounting news, including the recent arrest of an IRS contractor, the IRS slashing the PTIN fee, ongoing trials, and cyber-attacks. Sponsors

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Chapters

(00:47) - Don Jr. explains GAAP

(04:07) - Stories we'll cover this week

(06:13) - WSJ article on why no one is going into accounting

(10:30) - New Illinois CPA Society survey

(12:42) - The IRS is watching people who resold Taylor Swift tickets

(14:11) - Chick-fil-A is testing out robot servers and what accountants can learn in what customers want & expect in restaurants

(18:39) - Zoom adds AI companion features

(23:58) - FedNow hits milestone

(26:07) - Listener mail

(34:15) - QuickBooks offers a $50/month assisted bookkeeping service

(40:33) - Listener mail: Should I change majors from accounting?

(43:17) - FEMA and WGU are alternative ways to earn 150 credits

(46:33) - Microsoft using AI to help AI

(51:00) - Former IRS contractor charged with leaking billionaire tax filings

(55:03) - Trump blaming his former Mazars accountant in fraud trial

(59:36) - CPA Canada vs CPA Quebec and CPA Montreal updates

(01:01:53) - MGM cyber attack follow up

(01:04:16) - WSJ reports Binance is in trouble

(01:08:25) - Wrap up and how to reach us

 Show Notes Chick-fil-A Reportedly Tests Robot Servers Amid Diner Concerns Around Automation https://www.pymnts.com/restaurant-technology/2023/chick-fil-a-tests-robot-servers-amid-diner-concerns-around-automation/   AICPA Endorses Key Legislation Recognizing the Link Between ...   https://www.prnewswire.com/news-releases/aicpa-endorses-key-legislation-recognizing-the-link-between-accounting-and-stem-301941029.html   Why No One's Going Into Accounting - WSJ            https://www.wsj.com/lifestyle/careers/accounting-salary-cpa-shortage-dec2caa2   IRS slashes PTIN fees        https://www.accountingtoday.com/news/irs-slashes-ptin-fees   New National Research on CPA Pipeline Challenges Underway       https://www.cpapracticeadvisor.com/2023/10/05/new-national-research-on-cpa-pipeline-challenges-underway/95453/   IRS contractor charged in leak of billionaire taxpayer info https://www.accountingtoday.com/news/irs-contractor-charged-in-leak-of-billionaire-taxpayer-info-to-news-outlets   CPA Standoff: Financial transparency a key issue in national ...       https://www.canadian-accountant.com/content/profession/cpa-standoff-financial-transparency-dispute   Anthony's Coal Fired Pizza and Wings removes AI ordering platform            https://www.pizzamarketplace.com/articles/anthonys-coal-fired-pizza-and-wings-removes-ai-ordering-platform/   FedNow Service Surpasses 100 Participants Since July Launch        https://www.pymnts.com/news/faster-payments/2023/fednow-service-surpasses-100-participants-since-july-launch/   2024 Public Accounting Starting Salary Numbers Are In    https://www.goingconcern.com/2024-public-accounting-starting-salary-numbers-are-in/   Clorox Experiences Significant Financial Loss Stemming From Recent Cyber Attack                https://blog.knowbe4.com/clorox-cyber-attack-financial-loss   CPA Pipeline Research Survey       https://intraprise.qualtrics.com/jfe/form/SV_cUSqP1Kalfh58ZE?Source=PRMK   2024 Salary Guide | Robert Half  https://www.roberthalf.com/us/en/insights/salary-guide   CPA Standoff: Unique regulatory status of CPA Quebec complicates accounting rift               https://www.canadian-accountant.com/content/profession/cpa-standoff-ontario-governance-dispute   CPA standoff: Ontario government sticks to sidelines in governance dispute            https://www.canadian-accountant.com/content/profession/cpa-standoff-ontario-governance-dispute   Message from Jerilyn Dressler re: accounting profs lacking real world experience   https://mail.google.com/mail/u/0/#inbox/FMfcgzGtxTBWVtqNtvTshjnDnxjTvHJM   Trump business fraud trial continues with accountant testimony on 4th day | PBS NewsHour          https://www.pbs.org/newshour/amp/politics/trump-business-fraud-trial-continues-with-accountant-testimony-on-4th-day   MGM Resorts Refused to Pay Ransom in Cyberattack on Casinos - WSJ      https://www.wsj.com/tech/cybersecurity/mgm-resorts-refused-to-pay-ransom-in-cyberattack-on-casinos-3a53fa6d?st=36ug7ec...