The Accounting Podcast

The Accounting Podcast

By Blake Oliver & David LearyNewsNews CommentaryBusiness News
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The Accounting Podcast episodes

  • What CFOs Are Thinking: AI, Talent Crisis, Gen Z, and More

    Adam Zaki of CFO.com joins Blake and David to explore the trends reshaping the industry, from AI to the talent shortage. They dive into the murky waters of corporate financial controls and audit practices. They also examine what makes a truly effective CFO in today's dynamic business environment and why authenticity might be the most valuable trait in a leader's toolkit. Get an insider's perspective on the 150-hour CPA licensing requirement and hear ideas for reform that could revolutionize the profession.

    Sponsors
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    RightRev - http://accountingpodcast.promo/rightrev
    Makers Hub - http://accountingpodcast.promo/makershub


    Chapters
    • (01:18) - AI Trends in Finance
  • (02:27) - Adoption and Challenges of AI
  • (09:19) - Talent Shortage in Finance
  • (13:18) - Gen Z in the Finance Profession
  • (19:19) - Real Consequences of The Breakdown of Financial Controls
  • (27:04) - AT&T is Bypassing Big 4 Recruitment & Blake's Career Path
  • (28:46) - Q&A Session Begins
  • (29:23) - Would You Trade Your Job for a CFO Role?
  • (30:24) - Work-Life Balance in Accounting
  • (32:11) - Other Ways We Can Attract Talent to The Accounting Profession
  • (36:22) - Challenges in the Accounting Profession
  • (45:43) - Mentorship and Leadership in Accounting
  • (52:59) - Closing Remarks and Future Guests
  •  


    Show Notes

    Follow Adam’s stories on CFO.com: https://www.cfo.com/editors/azaki/

    75% of employees use AI at work: report | CFO

     

    San Francisco 49ers, MLB Star Shohei Ohtani Wrestle With Poor Financial Controls

     

    34% of KPMG tax, audit and advisory interns plan to stay 5 years at first job: report | CFO

     

    Gen Z Pivots from Accounting, Pursues Creative Freedom and Entrepreneurship | CFO

     

    No Gimmicks, Just Authenticity: How To Attract Gen-Z Talent | CFO

     

    Peacocking, newskilling and digital detox: 9 new workplace trends CFOs must know | CFO

     

    Senior Leaders Nearly Twice as Likely To Receive AI Resources as Junior Staff | CFO



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    Get in Touch

    Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast

    Classifieds

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    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    56 min
  • ChatGPT Beats Humans at Financial Statement Analysis

    Sponsors
    LiveFlow - http://accountingpodcast.promo/liveflow
    RightRev - http://accountingpodcast.promo/rightrev
    Makers Hub - http://accountingpodcast.promo/makershub


    Chapters
    • (00:38) - Blake's Conference Adventures
  • (02:48) - AI and the Future of Auditing
  • (04:51) - Insights from the IMA Conference
  • (09:35) - The AI Tipping Point
  • (14:23) - Microsoft Announces Delay of Their Ai Recall Tool
  • (19:54) - AI in Financial Statement Analysis
  • (32:33) - Community and Future Plans
  • (34:46) - Synapse Bankruptcy and What It Means for FinTech Banks
  • (45:05) - PwC and OpenAI Partnership
  • (46:54) - EY Is Spending $1 Billion on Something
  • (49:03) - Big Four Compensation Insights
  • (52:31) - Fake News on Stimulus Checks
  • (56:07) - Listener Mail and Advice for Starting a Firm
  • (01:02:42) - Wrap-up and Announcements
  •  


    Show Notes

    Study: ChatGPT Better at Financial Statement Analysis Than Humans

    https://nysscpa.org/news/publications/the-trusted-professional/article/study-chatgpt-better-at-financial-statement-analysis-than-humans-060524

    PwC to resell ChatGPT Enterprise

    https://www.accountingtoday.com/news/pwc-to-become-first-official-reseller-for-openai-for-openais-chatgpt-enterprise

    EY US to invest $1 billion in compensation and technology to improve the attractiveness of the accounting profession

    https://www.ey.com/en_us/newsroom/2024/06/ey-us-to-invest-1-billion-in-compensation-and-technology

    Change is in the air: And it is helpful.

    https://www.orcpa.org/news/13ff8628-9c17-43b1-858a-148af698c818:change-is-in-the-air-and-it-is-helpful

    Potential deposit shortfall in Synapse bankruptcy falls in regulatory grey area

    https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/potential-deposit-shortfall-in-synapse-bankruptcy-falls-in-regulatory-grey-area-82041848

    Apple brings ChatGPT to Siri as it debuts ‘Apple Intelligence’ at WWDC 2024

    https://www.theguardian.com/technology/article/2024/jun/10/apple-ai-product-launch

    How does Sam's Club AI work?

    https://www.statesman.com/story/news/state/2024/05/02/sams-club-ai-check-receipt-exit-stores-texas-locations/73526045007/ 

    How fake stories about IRS stimulus checks took over the internet

    https://www.fastcompany.com/91138837/fake-stories-irs-stimulus-checks-flood-internet-google-news

    Fact Check: Is The IRS Really Giving An $8700 Stimulus Check?

    https://finance.yahoo.com/news/fact-check-irs-really-giving-192246766.html


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    Get in Touch

    Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast

    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd


    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    1 hr 5 min
  • The Compelling Case for Nearshoring Accounting to Argentina

    Discover the compelling advantages of nearshoring your accounting and finance functions to Argentina. In this episode, Nicolás Villafañe, partner at South Offices, shares his insider perspective on why Argentina is a top destination for accessing skilled talent while enjoying significant cost savings compared to hiring in the US.

    Learn how Argentina's timezone alignment, cultural affinity, and highly qualified pool of licensed CPAs can provide your business with a seamless experience as if you were hiring remote employees. Nicolás also shares a case study of how his firm has partnered with a US client to build a successful, integrated team.

    If you've been considering nearshoring options, this episode is packed with valuable insights to help you evaluate your choices and unlock the benefits for your business. Tune in now to explore the power of nearshoring!

    Meet Our Guest, Nicolás Villafañe

    LinkedIn: https://www.linkedin.com/in/nicolasvillafane/


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    Get in Touch

    Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast


    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd


    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    25 min
  • Will Intuit Go Red in the 2024 Election?

    Blake and David get brutally honest about why pricey accounting conferences are a no-go and how the industry sidelines neurodivergent professionals. You'll also get a rundown of the rebranded Intuit Connect event's new direction, the political firestorm around IRS Direct File, and a Google Sheets update that will blow your mind. From the mailbag, don't miss one reader's incredible story of passing the CPA exam in record time and our take on why firms need to rethink degree requirements. Plus, we offer real-talk advice for starting your own
    bookkeeping biz and take shots at the infamous 150-hour rule.

    Sponsors
    OnPay - http://accountingpodcast.promo/onpay
    Relay - http://accountingpodcast.promo/relay
    Makers Hub - http://accountingpodcast.promo/makershub


    Chapters
    • (01:02) - David Has FOMO
  • (03:27) - The Cost of AICPA Engage
  • (06:48) - ADHD and Conferences
  • (15:08) - Community Engagement and Comments
  • (19:52) - Intuit Connect Announcement & Going After the Mid-Market
  • (25:50) - Future of Accounting with AI
  • (29:55) - AI Agents Replacing Human Labor
  • (31:03) - Preparing for a Future in Accounting
  • (32:02) - The Value of Practical Experience
  • (33:48) - Listener Feedback and Community Engagement
  • (34:46) - Intuit and IRS Direct File Controversy
  • (43:52) - Google Sheets' New Conditional Notifications
  • (46:43) - Listener Mailbag: Unique Paths to CPA
  • (51:00) - Earning Your Accounting Degree Quick!
  • (54:45) - The Debate on College Degrees and Signaling
  • (01:00:01) - Closing Remarks and Thanks for Listening
  •  


    Show Notes

    House GOP proposes IRS funding cuts, defunding free tax filing ...

    Intuit Connect 2024 - Formerly QuickBooks Connect


    Google Sheets’ new ‘conditional notifications’ easily keep track of small changes - The Verge


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    Get in Touch

    Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast

    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd


    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    1 hr 1 min
  • From Compliance to Consulting: A CPA's Journey into M&A and Business Valuation

    Anthony Venette, Director of Business Valuation and Advisory Services at DeJoy & Co., joins Blake to discuss his unconventional career path and the world of business valuation. Anthony shares his journey from audit to tax and eventually to valuation, highlighting the importance of soft skills and effective communication in advisory roles. He also provides valuable insights into the day-to-day life of a valuation professional and offers advice for young CPAs interested in pursuing this career path.

    Meet Our Guest, Anthony Venette

    LinkedIn: https://www.linkedin.com/in/anthonyvenettecpaabv/


    Learn more about DeJoy & Co.

    https://www.teamdejoy.com/

    Need CPE?

    Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
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    Get in Touch

    Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast


    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd


    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    25 min
  • What's the Journal Entry for a Hush Money Payment?

    Blake and David delve into the accounting and bookkeeping aspects of Donald Trump's recent guilty verdict in New York. They discuss the charges related to falsifying business records and hush money payments and explore the potential implications for Trump's businesses and campaign. Their conversation also touches on the current state of AI in accounting, the retirement of AICPA president Barry Melancon, and the challenges facing the profession in attracting new talent.

    Sponsors
    LiveFlow - http://accountingpodcast.promo/liveflow
    Zoho - http://accountingpodcast.promo/zoho
    Blue Onion - http://accountingpodcast.promo/blueonion
    Bean - http://accountingpodcast.promo/bean


    Chapters
    • (01:10) - Breaking Down Trump's Guilty Verdict
  • (02:31) - Analyzing the Charges
  • (04:27) - Legal Implications and Campaign Finance
  • (07:29) - Trump's Bookkeeping and Legal Strategies
  • (09:36) - Asking ChatGPT How This Entry Should Have Been Coded
  • (15:35) - Commercial Real Estate and Trump's Properties
  • (22:00) - Puzzle Accounting and AI Automation
  • (26:25) - Rose Financial's EASBY adds AI
  • (30:33) - Challenges in AI Categorization
  • (31:17) - Human Oversight in AI Accounting
  • (32:48) - Digits' AI Performance and Market Comparison
  • (34:41) - Live Listener Question: Career Path in Accounting
  • (37:59) - University of Scranton Brags About Number of Accounting Papers They've Published
  • (38:31) - AICPA's Future as President Barry Melancon Announces Retirement
  • (46:47) - App Review: Rose AI-Powered Spreadsheet
  • (48:49) - Watch Our TurboTax Business Assisted 2024 Review and Listen to the Best Metrics Podcast
  • (51:22) - Earn CPE For Listening To Our Podcast
  •  


    Show Notes

    "Who's the victim of Trump's Bookkeeping?" Washington Examiner

    https://www.washingtonexaminer.com/daily-memo/3014100/who-is-the-victim-of-trumps-bookkeeping/

     

    Trump May Owe $100 Million From Double-Dip Tax Breaks, Audit Shows

    https://www.nytimes.com/2024/05/11/us/trump-taxes-audit-chicago.html

     

    The Office-Market Meltdown Comes for Trump’s Prized Wall Street Building

    https://www.wsj.com/real-estate/commercial/the-office-market-meltdown-comes-for-trumps-prized-wall-street-building-31b3a667

     

    Profession Leader Humbly Requests You STFU About Long Hours, Busy Season, and Stress

    https://www.goingconcern.com/profession-leader-humbly-requests-you-stfu-about-long-hours-busy-season-and-stress/

     

    New AICPA chair: ‘We need to promote the cool work we do’

    https://www.journalofaccountancy.com/issues/2024/jun/new-aicpa-chair-we-need-to-promote-the-cool-work-we-do.html

     

    Rose Financial Solutions Sets Goal to Automate 85% of Finance and Accounting Activities by 2030

    https://www.prnewswire.com/news-releases/rose-financial-solutions-sets-goal-to-automate-85-of-finance-and-accounting-activities-by-2030-302145576.html

     

    TAP: TurboTax Business Assisted Review 2024 (for Tax Year 2023)

    https://www.youtube.com/watch?v=zaaMIV1lyns

     

    Check out Best Metrics here: 

    https://bestmetrics.transistor.fm/


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    Get in Touch

    Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast

    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd


    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    55 min
  • Rethinking Accounting Education in the Age of AI

    Dr. Mfon Akpan, Assistant Professor of Accounting at Methodist University joins Blake and David for a conversation on the impact of AI on accounting education, the challenges faced by accounting graduates entering the workforce, and the future of the CPA profession. Dr. Akpan shares his insights on incorporating AI into the classroom and the importance of lifelong learning in the rapidly evolving world of technology.

    Sponsors
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    Keeper - http://accountingpodcast.promo/keeper
    Bean - http://accountingpodcast.promo/bean


    Chapters
    • (01:43) - AI in Accounting Education
  • (02:34) - Prompting Techniques for AI
  • (04:21) - Practical Applications of AI in Accounting
  • (05:37) - Challenges and Benefits of AI in Education
  • (06:45) - Incorporating AI into Accounting Curriculum
  • (13:50) - Debate on Accounting Education and Skills Gap
  • (22:34) - The 5th-Year Requirement for CPAs
  • (32:42) - The Value of Personal Interaction in Education
  • (33:23) - The Importance of Smaller Class Sizes
  • (35:14) - The Role of AI in Education
  • (37:53) - Improving Salaries in the Accounting Profession
  • (39:33) - The Impact of Technology on Accounting Jobs
  • (40:19) - Balancing Work and Life in Accounting
  • (51:35) - The Future of Accounting Education
  • (55:36) - Embracing AI in Accounting
  • (58:39) - Final Thoughts and Conclusion
  •  


    Meet our Guest, Dr. Mfon Akpan
    Website: https://mfonakpan.com/
    LinkedIn: https://www.linkedin.com/in/drmfonakpan/

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    Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
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    Get in Touch

    Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.


    Sponsorships

    Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.


    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


    Limited edition shirts, stickers, and other necessities

    TeePublic Store: http://cloudacctpod.link/merch


    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • YouTube: https://www.youtube.com/@TheAccountingPodcast
    • Spotify: http://cloudacctpod.link/Spotify
    • Podchaser: http://cloudacctpod.link/podchaser
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast

    Classifieds

    Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd


    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    1 hr
  • The Startups Seeking to Dethrone QuickBooks

    Blake and David dig into reports from the Illinois CPA Society and National Pipeline Advisory Group highlighting issues like long work hours, the 150-hour rule, and low starting salaries. They examine the potential disruption of traditional accounting software by startups and vertical SaaS companies offering embedded accounting functionality and review some of the CPA Practice Advisor Readers' Choice Awards. Wrapping things up, they highlight the health risks of long working hours, and discuss the need for better work-life balance in accounting firms, based on a recent WHO report.

    Sponsors
    OnPay - http://accountingpodcast.promo/onpay
    Cloud Accountant Staffing - http://accountingpodcast.promo/cas
    Keeper - http://accountingpodcast.promo/keeper
    Blue Onion - http://accountingpodcast.promo/blueonion


    Chapters
    • (01:44) - Does QuickBooks have some new competition?
  • (06:42) - Layer wants to be a GL service
  • (09:45) - Lili's place in the marketspace
  • (13:03) - The role of accountants in software success
  • (14:57) - CPA Practice Advisor's 2024 Reader Choice Awards
  • (17:22) - Illinois CPA Society survey results
  • (24:00) - WHO publishes estimates on health costs from working long hours
  • (28:31) - The long-awaited NPAG Impact Report was released!
  • (30:39) - Identifying pipeline problems
  • (32:34) - Reasons students don't choose accounting majors
  • (45:55) - Final points from report
  • (48:02) - Blake's theory on why accounting starting salaries are low
  • (54:46) - Thanks for listening and remember to subscribe
  •  


    Show Notes

    Teal Announces $8M Seed Investment to Drive Next-Gen Accounting Products for Vertical SaaS

    https://www.businesswire.com/news/home/20240520567117/en/Teal-Announces-8M-Seed-Investment-to-Drive-Next-Gen-Accounting-Products-for-Vertical-SaaS

    Embedded accounting startup Layer secures $2.3M toward goal of replacing QuickBooks
    https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/?guccounter=1

    Illinois CPA Society Releases Updated CPA Pipeline Report
    https://www.icpas.org/about-us/press/press-release-details/2024/05/16/illinois-cpa-society-releases-updated-cpa-pipeline-report

    National Pipeline Advisory Group releases draft strategy report
    https://www.accountingpipeline.org/draft-report/

    Embedded accounting startup Layer secures $2.3M toward goal of replacing Quickbooks | TechCrunch                

    https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/

     

    The Best Tech for Accounting Firms: CPAs Voted for Readers Choice Tech Awards        

    https://www.cpapracticeadvisor.com/2024/05/15/2024-cpa-practice-advisor-readers-choice-award-winners-announced/105089/

     

    Lili Launches New Accountant AI for Small Business Financial Management   

    https://www.cpapracticeadvisor.com/2024/05/16/lili-launches-new-accountant-ai-for-small-business-financial-management/105520/

     

    Embedded accounting startup Layer secures $2.3M toward goal of replacing QuickBooks     

    https://techcrunch.com/2024/05/15/embedded-accounting-layer-2-3m-quickbooks/

     

    Kabbage Inc. Settles Allegations of PPP Fraud        

    https://smallbiztrends.com/?p=1487492

     

    US accounting group bows to calls for faster path for recruits

    https://www.ft.com/content/b6562303-cfda-4c6e-bb7b-8fe6e092bb01

     

    National Pipeline Advisory Group releases draft strategy report - National Pipeline Advisory Group   

    https://www.accountingpipeline.org/draft-report/

     

    Bench and Shopify alumni announce $11M CAD to build “the Stripe for accounting” with Teal - BetaKit                

    https://betakit.com/bench-and-shopify-alumni-announce-11-million-cad-to-build-the-stripe-for-accounting-with-teal/

     

    Embedded accounting startup Teal raises $8M seed          

    https://www.axios.com/pro/fintech-deals/2024/05/20/embedded-accounting-teal-8-million-seed

     

    The Indicator from Planet Money : NPR

    https://www.npr.org/2024/05/17/1197964709/trade-wars-and-talent-shortages

     

    Canadian fintech Teal raises $8M to build ‘Stripe for accounting’               

    https://techfundingnews.com/canadian-fintech-teal-raises-8m-to-build-stripe-for-accounting/

     

    Kabbage to pay $120M in PPP fraud settlements with DOJ

    https://www.bankingdive.com/news/kabbage-pay-120-million-ppp-fraud-doj-small-business-loan-pandemic/716053/

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    56 min
  • Trump Accountants Take the Stand Before the Stormy Daniels

    This week, Blake and David are puzzled by the results of a survey that shows 40% of tax professionals believe generative AI will allow them to charge clients higher rates. They also cover the sham audit firm BF Borgers and question why the firm's CPA is still licensed despite SEC charges. Blake demonstrates how he uses Zapier Central to build an AI agent that can automatically respond to client emails about the status of their tax returns. Wrapping up, they examine Digits' $35 million raise and pivot to bill pay, and Xero's new filtering functionality for bank reconciliations.
     

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    Chapters
    • (00:53) - Generative AI's Impact on Pricing
  • (05:14) - The Curious Case of BF Borgers and Sham Audits
  • (07:54) - The Slow Response of Regulatory Bodies to Fraud
  • (16:28) - NASBA Hires New President
  • (17:45) - NASBA and the CPA Exam: A Call for Modernization
  • (25:35) - The Trump Stormy Daniels NY Trial
  • (32:38) - Rudy Giuliani's Financial Woes: A Deep Dive
  • (34:20) - Building AI Agents with Zapier Central: A How-To Guide
  • (35:40) - AI Tools for Productivity: Insights from ClickUp
  • (36:43) - The Power of AI in Automating Client Communication
  • (44:06) - The Big Money in AI-Powered Practice Management
  • (48:16) - Bill Pay Innovations and Market Dynamics
  • (49:34) - Xero's New Features and Bank Feed Improvements
  • (53:20) - The Real Value of Dashboards in Business Management
  • (58:32) - Closing Remarks and Future Events
  •  


    Show Notes

    Rudy Giuliani Forced to Learn Accounting After Bankruptcy Beancounter Bails

    https://www.thedailybeast.com/rudy-giuliani-forced-to-learn-accounting-after-bankruptcy-beancounter-bails

     

    Stormy Daniels payment puts focus on Trump and check-writing as trial testimony resumes

    https://www.nbcnews.com/politics/donald-trump/former-white-house-executive-assistant-stand-trump-trial-dramatic-stor-rcna151578

     

    Trump Accountant on His Stormy Daniels Coverup Notes: ‘I Made a Boo-Boo’

    https://www.yahoo.com/news/trump-accountant-stormy-daniels-coverup-152934446.html

     

    Trump Accountant Exposes Checks to Michael Cohen in Damning Testimony

    https://newrepublic.com/post/181344/trump-accountant-checks-signed-michael-cohen-hush-money-trial

     

    What’s new in Xero — May 2024 - Xero Blog      

    https://blog.xero.com/product-updates/whats-new-in-xero-may-2024/

     

    End of Trump Media’s Auditor Jolts Hundreds of Other Companies      

    https://news.bloombergtax.com/financial-accounting/end-of-trump-medias-auditor-jolts-hundreds-of-other-companies

     

    Trump Media hires new auditor after previous accounting firm charged with 'massive fraud'  

    https://www.cnbc.com/2024/05/06/trump-media-hires-new-auditor-after-accounting-firm-charged-with-fraud.html

     

    Digits Launches AI Bill Pay for Small Businesses            

    https://www.pymnts.com/news/b2b-payments/2024/digits-launches-ai-bill-pay-for-small-businesses/

    Countsy Debuts Platform to Streamline Back-Office Management

    https://www.pymnts.com/back-office/2024/countsy-debuts-platform-to-streamline-back-office-management/

     

    Why we’re calling 2024 ‘the year of the US bank feed’  

    https://blog.xero.com/product-updates/year-of-the-us-bank-feed/

     

    Let's Meet NASBA's Next President and CEO    

    https://www.goingconcern.com/lets-meet-nasbas-next-president-and-ceo/

     

    Digits Launches AI Bill Pay for Small Businesses            

    https://www.pymnts.com/news/b2b-payments/2024/digits-launches-ai-bill-pay-for-small-businesses/

     

    Digits AI Bill Pay -- The World's First AI Bill Pay, Built Specifically For Startups

    https://www.prnewswire.com/news-releases/digits-ai-bill-pay--the-worlds-first-ai-bill-pay-built-specifically-for-startups-302131944.html

     

    Imagine the Chaos If the PCAOB Starts Naming and Shaming Audit Deficiency Clients

    https://www.goingconcern.com/imagine-the-chaos-if-the-pcaob-starts-naming-and-shaming-audit-deficiency-clients/

     

    'Nobody seems interested' in helping Giuliani with accounting in bankruptcy case, lawyers claim

    https://thehill.com/video/%e2%80%98nobody-seems-interested%e2%80%99-in-helping-giuliani-with-accounting-in-bankruptcy-case-lawyers-claim/9675968/

    Canopy Secures $35 Million in Funding to Enhance AI-Powered Practice Management for Accounting Firms 

    https://www.einnews.com/pr_news/709723429/canopy-secures-35-million-in-funding-to-enhance-ai-powered-practice-management-for-accounting-firms

      

    Trump Media Replaces Its Accounting Firm BF Borgers With Semple, Marchal & Cooper

    https://www.fxleaders.com/news/2024/05/06/trump-media-replaces-its-accounting-firm-bf-borgers-with-semple-marchal-cooper/

     

    Trump Org. accounting system was desig...

    1 hr
  • Exploring Non-Traditional Accounting Careers in Government

    Cody Turley, CPA and Certified Fraud Examiner, joins Blake and David to discuss his SEC career path, describing what it's like to investigate securities law violations. He emphasizes that while Big Four experience is valuable, it's not the only way to have a successful and meaningful accounting career. Cody shares insights into the benefits of working in government accounting roles, including greater responsibility early on, work-life balance, and the ability to transition to public accounting or industry later if desired.

    Meet Our Guest, Cody Turley

    LinkedIn: https://www.linkedin.com/in/cody-turley-cpa-cff-cfe-776254122/


    Learn about SEC internship opportunities:
    https://www.sec.gov/pathways-internship-program

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    Transcripts

    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    22 min

About The Accounting Podcast

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The most authoritative voice in accounting news. Every week, Blake Oliver and David Leary break down the stories reshaping the profession — AI, the Big Four, firm M&A, audit failures, and the…

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