The Accounting Podcast

By Blake Oliver & David LearyNews News Commentary Business News

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The Accounting Podcast episodes

January 12, 2024How Much Tax Preparers Charge
Blake throws his hat into the ring for President and CEO of NASBA! Hear how he intends to shake things up should he be chosen! Next, Blake and David unpack a survey on the surprisingly low tax-preparer fees across the country, discuss the headaches still posed by interstate CPA licensing, and consider some solutions like modeling CPA reciprocity rules! Grab some snacks and enjoy!
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Uncat - http://accountingpodcast.promo/uncat
Bookkeep - http://accountingpodcast.promo/bookkeep

Chapters
(00:00) - How Much Tax Preparers Charge
(00:21) - Blake applied to be the new NASBA President and CEO
(07:59) - David's customer experience at a Publix's grocery store
(10:09) - National Association of Tax Professionals 2023 survey results
(16:57) - What type of returns are they doing?
(21:15) - How do tax preparers operate?
(22:31) - How do tax preparers price?
(25:37) - Now lets talk about business tax returns
(28:51) - When do tax preparers get paid?
(46:21) - What work went unbilled?
(50:22) - Type of services offered
(50:51) - Average wages for tax employees
(51:32) - Blake checks in with the live stream
(54:38) - Daryl asks for career advice
(01:00:20) - New TurboTax ad doesn't shy away from "free" claim
(01:01:34) - Listener email on reciprocity
(01:14:02) - Wrap up and where to reach us
Show Notes
Intuit TurboTax's 2024 "Make Your Moves Count" Campaign Highlights Its Tax Experts, AI Technology and Filing Solutions Ensuring the Best Tax Outcome for All Types of Filers

TurboTax Free Edition 2024 Commercial "Free Connoisseur" (Official TV Ad :30)

NATP 2023 Tax Professional Fee Study

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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
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Stitcher: http://cloudacctpod.link/Stitcher
Overcast: http://cloudacctpod.link/Overcast

Classifieds
Royalwise - https://royalwise.com/partner
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LiveFlow Event - https://www.liveflow.io/events/greg-kyte-event
REFRAME WORKSHOP - https://www.reframe2024.com/
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
1 hr 16 min
January 05, 2024Turning Staff Into Workaholics Makes Them Way Less Productive
In this 2023 wrap-up, Blake and David discuss an appeals court ruling that audit reports are so generic they are essentially useless to investors. They also explore the concept of "productivity theater" where employees pretend to be constantly working, even though it leads to disengagement and burnout. Continuing the theme, they contemplate why mandatory weekend work persists and share ideas on how firms can improve work-life balance. Rounding out the discussion, they offer up some career advice to accounting students on finding fulfilling roles and avoiding common traps such as extreme overwork.

Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Zoho - http://accountingpodcast.promo/zoho
Earmark - https://earmarkcpe.promo/EarmarkMediaKit

Chapters
(00:21) - David will get an Earmark tattoo at 100,000 subscribers
(03:16) - Slack survey reveals forced overtime reduces productivity
(06:40) - Remote workers' surveillance
(09:20) - Mandatory Saturdays going away
(15:15) - What is keeping firms up at night?
(19:37) - What percentage of firms are filing tax extensions for their clients
(21:45) - A junior accounting student asks for some advice
(27:47) - Appeals court rules audit report is immaterial
(32:57) - SPACs accounted for at least 21 bankruptcies and $46 billion lost in 2023
(36:38) - The importance of finding and making your own work/life balance
(45:30) - Back to advice for younger accountants entering the profession
(53:24) - An accountant has a breakdown at the airport
(55:26) - Thanks for listening and remember to subscribe
Show Notes
Turning staff into workaholics makes them way less productive | Fortune

Burned Investors Ask ‘Where Were the Auditors?’ A Court Says ‘Who Cares?’ - WSJ
Accounting in 2024: The year ahead in numbers
Full PDF of study is here: https://www.accountingtoday.com/research-report/optimism-abounds-but-people-problems-persist

SPAC companies accounted for at least 21 bankruptcies this year and a staggering $46 billion in lost investor value | Fortune
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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
Royalwise - https://learn.royalwise.com/
Forwardly - https://www.forwardly.com/
LiveFlow Event - https://www.liveflow.io/events/greg-kyte-event
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
58 min
December 28, 2023Accounting Professor Bills Trump $900,000 for Expert Testimony
Just in time for the holidays, Blake and David examine the accounting professor from NYU who charged Trump nearly $900,000 for expert testimony. They also tackle issues around accountant retention and turnover, tax updates, the financial operations of Hamas, as well as Hunter Biden's indictment on tax charges, and tips for using spreadsheets in filmmaking and other creative projects. All this and more to keep you entertained while you wrap those last-minute gifts!
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Earmark - https://earmarkcpe.promo/EarmarkMediaKit
Keeper - https://cloudaccountingpodcast.promo/keeper

Chapters
(00:38) - Who knew being an expert witness paid so well
(05:46) - Former Wall Street accountant leaves profession to become an escort and exotic dancer
(08:40) - Illinois retention survey
(16:24) - Has AI job replacement theory reached mainstream?
(17:34) - Why employees resign
(18:54) - Accounting rules and the supply of accountants
(22:52) - FASB announces new rules for cryptocurrencies
(24:06) - IRS expanding their modernization efforts for technology
(25:47) - FinCEN updates a new service opportunity for accountants
(32:19) - Former Jaguars employee accused of stealing over $22 million
(36:16) - Nikola founder sentenced to prison for fraud
(40:03) - 64% of employees waste time due to lack of deadlines
(42:13) - EY laying off US partners
(43:50) - EY names Janet Truncale first female global CEO of big 4 firm
(44:42) - The IRS plans reorg at the highest leadership levels
(45:24) - Israel and the US knew of Hamas bank account
(49:22) - Hunter Biden's indictment
(53:44) - All Sorts director demonstrates how he uses spreadsheets
(57:29) - Wrap up and where to reach us

Show Notes
Trump PAC paid for expert witness testimony in NY civil fraud trial
https://www.nbcnews.com/politics/donald-trump/trump-pac-paid-expert-witness-testimony-ny-civil-fraud-trial-rcna128804

EY Is Laying Off U.S. Partners Amid Tough Economic Conditions – WSJ
https://www.wsj.com/articles/ey-is-laying-off-u-s-partners-amid-tough-economic-conditions-9efc4aa6

Accounting Rules and the Supply of Accountants by Anthony Le :: SSRN
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4666335

Righting Retention - Insight Special Feature
https://www.icpas.org/information/professional-issues/talent-retention

Stripper and escort rakes in $34k per week catering to Wall Street
https://nypost.com/2023/12/18/business/stripper-and-escort-rakes-in-34k-per-week-catering-to-wall-street/

FinCEN ramps up guidance as beneficial ownership requirements looms | Accounting Today
https://www.accountingtoday.com/opinion/fincen-ramps-up-guidance-as-beneficial-ownership-requirements-fast-approach

Trevor Milton Gets Four Years in Prison for Deceptions on Zero-Emission Trucks
https://www.wsj.com/us-news/law/trevor-milton-lied-about-nikolas-zero-emission-trucks-is-that-worth-a-decade-in-prison-ae35ce40

64% of Employees Waste Hours Due to Lack of Deadlines | CFO
https://www.cfo.com/news/64-of-employees-waste-hours-due-to-lack-of-deadlines/702774/

IRS Expands Business Tax Account Tool To Include S Corps And Partnerships
https://www.forbes.com/sites/kellyphillipserb/2023/12/18/irs-expands-business-tax-account-tool-to-include-s-corps-and-partnerships/

Israel Found the Hamas Money Machine Years Ago. Nobody Turned It Off.
https://www.nytimes.com/2023/12/16/world/europe/israel-hamas-money-finance-turkey-intelligence-attacks.html?smid=nytcore-ios-share&referringSource=articleShare

Hunter Biden Charged With Evading Taxes on Millions From Foreign Firms
https://www.nytimes.com/2023/12/07/us/politics/hunter-biden-indictment.html

Former Jaguars employee accused of stealing over $22 million – ESPN
https://www.espn.com/nfl/story/_/id/39059710/former-jaguars-employee-accused-stealing-22-million

EY names Janet Truncale as first female global CEO of Big Four firm | Accounting Today
https://www.accountingtoday.com/articles/ey-names-janet-truncale-as-first-female-global-ceo-of-big-four-firm

NY AG disputes Trump expert’s GAAP analysis
https://www.cfodive.com/news/gaap-holds-spotlight-final-stretch-250m-trump-civil-fraud/702327/
Hunter Biden Indicted On Criminal Tax Charges In California
https://www.forbes.com/sites/kellyphillipserb/2023/12/08/hunter-biden-indicted-on-criminal-tax-charges-in-california/

Hunter Biden Charged with Tax Crimes in Los Angeles
https://www.cpapracticeadvisor.com/2023/12/11/hunter-biden-charged-with-tax-crimes-in-los-angeles/98977/

Trump's accounting expert trashes NY's 'absurd' fraud case
https://www.accountingtoday.com/articles/trumps-expert-accounting-witness-trashes-nys-absurd-fraud-case-in-court-clash

Donald Trump returns to court, lauds his defense expert who sees no evidence of accounting fraud
1 hr
December 22, 2023Building a Firm to the Right Size with Keila Hill-Trawick, CPA
Keila Hill-Trawick joins Blake and David to discuss her philosophy on intentionally building a firm to the "right" size, rather than pursuing endless revenue growth. She also explains how her firm narrowed its service offerings to focus on core recurring services like tax planning and fractional CFO work. Blake and David examine research on how much money Americans think they need annually to be happy, with millennials citing much higher targets. They also talk about an accounting reference in the new Trolls movie and the need for more diverse and positive CPA portrayals in media.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Earmark - https://earmarkcpe.promo/EarmarkMediaKit
Keeper - https://cloudaccountingpodcast.promo/keeper

Chapters
(00:31) - Keila Hill-Trawick joins the show
(06:35) - How did you decide to cut back on services your firm offered?
(08:47) - What core services do you offer?
(11:07) - Do you help clients set up the services you don't offer?
(12:27) - What does your current team look like and how did you build it?
(16:07) - What are you charging clients?
(18:31) - How many clients does each employee handle and will that change with technology?
(21:17) - What's the ultimate goal?
(26:24) - Berkshire Hathaway lawsuit
(35:44) - SmileDirectClub declares bankruptcy
(42:30) - Thoughts on accountants doing IT audits
(46:25) - How much money do Americans need to be happy?
(59:46) - Accounting reference in the newest Trolls movie
(01:02:53) - Wrap up and how to reach Keila
Show Notes

What’s Behind Warren Buffett’s Fight With a Truck-Stop Mogul – WSJ
https://www.wsj.com/business/warren-buffett-berkshire-hathaway-jimmy-haslam-pilot-lawsuit-70ef0413

Trolls movie CPA
https://www.linkedin.com/posts/jacob-g-5819b780_went-to-see-the-new-trolls-movie-with-my-activity-7134882587042320384-RC32

Warren Buffett's Berkshire Hathaway sued by Haslam family over Pilot truckstop chain takeover
https://cdllife.com/2023/haslam-family-sues-pilot-majority-owner-berkshire-hathaway-over-accounting-practices/

Bankrupt SmileDirectClub shuts down, says its ‘Lifetime Smile Guarantee’ is canceled - but Smile Pay users are expected to keep paying https://fortune.com/2023/12/11/bankrupt-smiledirectclub-shutting-down/
Meet our Guest, Keila Hill-Trawick

Website: http://www.littlefishaccounting.com/
LinkedIn: https://www.linkedin.com/in/keilahilltrawick
Twitter: https://twitter.com/littlefishcpa
Instagram: https://www.instagram.com/littlefishaccounting/

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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
Royalwise - https://learn.royalwise.com/
Forwardly - https://www.forwardly.com/
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
December 21, 2023Solving the CPA Pipeline Problem: An Interview with AICPA's National Pipeline Advisory Group
Lexy Kessler, National Pipeline Advisory Group (NPAG) chair and Sue Coffey, Chief Executive Officer – Public Accounting with AICPA join us for a special bonus episode to address the accounting talent crisis and talk about how we can improve the CPA pipeline. Along with these issues, they also emphasize the importance of working together as a profession, being data-driven in their approach, and looking at the broader ecosystem of accounting, with updates and more comprehensive strategies expected to be detailed in the NPAG draft national strategy plan in May 2024.
Meet Our Guests

Lexy Kessler, Chair - National Pipeline Advisory Group (NPAG)
Website: https://www.accountingpipeline.org/
LinkedIn: https://www.linkedin.com/in/lexykessleraprio/
Susan S. Coffey, CPA, CGMA - CEO – Public Accounting at the Association of International Certified Professional Accountants
Website: https://www.aicpa-cima.com/resources/article/susan-s-coffey-cpa-cgma
Learn more about the National Pipeline Advisory Group (NPAG)
https://www.accountingpipeline.org/

Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

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
29 min
December 13, 2023QuickBooks Desktop Is Dead. Long Live Online!
Blake and David discuss Intuit's announcement that QuickBooks Desktop will no longer be sold as new subscriptions after July 2024. They also talk about the need for changes in the accounting profession, such as simplifying financial reporting requirements and revising the 150-hour rule. In other news, they cover sanctions against China-based accounting firms, incorrect IRC claims by businesses, and the Adidas-Kanye West fallout. They also explore how AI can help explain complex concepts to clients clearly and accurately.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Relay - https://cloudaccountingpodcast.promo/relay
Keeper - https://cloudaccountingpodcast.promo/keeper

Chapters
(01:13) - Accounting has been in the news a lot recently
(03:00) - QuickBooks Desktop is dead
(10:29) - Blake's thoughts from The Digital CPA Conference
(15:21) - CPA Journal - eliminate the 150-hour rule
(17:29) - The Accountant 2 film confirmed
(19:03) - Blake went to Kentucky
(20:38) - The PCAOB sanctioned 3 China-based firms
(23:32) - The IRS sends 20,000 letters regarding ERC claims
(28:01) - Kanye West and Adidas fallout
(35:23) - Earmark updates and the IRS releasing taxpayer business accounts
(37:30) - CFO.com: 61% of finance executives are not using AI
(40:05) - Can AI trim years off of the partner path?
(41:36) - The traditional CPA firm structure
(45:21) - Blake asks AI to explain basis to a non-accountant
(51:38) - AccountingWeb tricks to help detect AI-written articles
(54:20) - Wrap up and how to reach us
Show Notes
Twitter: Any good plain-English way to explain basis?
https://x.com/wtfoote/status/1725193933410668755?s=12

61% of Finance Execs Not Using AI Yet: Weekly Stat | CFO
https://www.cfo.com/news/artificial-intelligence-implementation-adoption-gartner-survey/699082/

The Yeezy standard for accounting | Financial Times
https://www.ft.com/content/8b094370-f7e7-492b-b56d-6c0096be7784

BST & Co. Got Sick of Hounding Rudy Giuliani to Pay His Bill So Now They’re Suing Him
https://www.goingconcern.com/bst-co-got-sick-of-hounding-rudy-giuliani-to-pay-his-bill-so-now-theyre-suing-him/

PCAOB sanctions three Chinese firms, including PwC affiliates
https://www.accountingtoday.com/news/pcaob-sanctions-three-chinese-firms-including-pwc-affiliates

The Accounting Profession Is in Crisis
https://www.cpajournal.com/2023/12/01/the-accounting-profession-is-in-crisis/

BREAKING NEWS: QuickBooks Desktop Product Changes
https://insightfulaccountant.com/accounting-tech/general-ledger/breaking-news-quickbooks-desktop-product-changes/

What Can the Profession Do?
https://www.cpajournal.com/2023/12/04/what-can-the-profession-do/

Supreme Court could make massive tax impact — or none at all
https://www.accountingtoday.com/news/supreme-court-to-hear-arguments-in-moore-v-u-s

Billionaire Tax Rests on a Disputed $14,729 Refund at the Supreme Court
https://www.cpapracticeadvisor.com/2023/12/04/billionaire-tax-rests-on-a-disputed-14729-refund-at-the-supreme-court/98782/

Some of the Big 4 consulting giants already think AI could trim years off the path to partner
https://fortune.com/2023/12/04/big-4-consulting-giants-pwc-kpmg-ai-trim-years-path-partner/

Opioid trust transparency questioned after accounting firm choice
https://www.thecentersquare.com/pennsylvania/article_c7977d42-9515-11ee-8bd6-3b90276d4b6b.html

Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

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

...
55 min
December 06, 2023AICPA Blames Boring Accounting Professors for Pipeline Problem
Blake and David discuss updates from the AICPA's Talent Pipeline Committee, including surprises about the high dropout rate of accounting majors in college. They also explore new custom AI capabilities in ChatGPT that allow users to create specialist bots and speculate on applications for accounting firms. They also cover lawsuits alleging Hollywood accounting tricks used by Disney to deprive financial partners of profits. Grab some snacks and enjoy!
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Earmark - https://earmarkcpe.promo/EarmarkMediaKit
Keeper - https://cloudaccountingpodcast.promo/keeper

Chapters
(01:34) - NASBA is hiring a new COO
(04:30) - What we'll cover on this week's show
(06:16) - AICPA talks about the pipline issues on Accounting Today's podcast
(12:31) - Blake checks in on the live chat
(20:07) - Two vastly different articles on CPAjournal.com about how to solve the accountant shortage
(28:58) - Making the CPA more accessible
(38:58) - Blake demonstrates OpenAI's new custom GPT maker
(49:54) - Disney sued for "Hollywood Accounting" methods
(56:29) - Thanks for listening and how to reach us
Show Notes
NASBA Begins Search for New President and CEO | NASBA
https://nasba.org/blog/2023/11/28/nasba-begins-search-for-new-president-and-ceo/

Rethinking the 150-Hour Requirement for CPA Licensure - The CPA Journal
https://www.cpajournal.com/2023/11/27/rethinking-the-150-hour-requirement-for-cpa-licensure/

The Accounting Pipeline - The CPA Journal
https://www.cpajournal.com/2023/11/22/the-accounting-pipeline/

Disney sued over accounting by film financiers
https://www.cfobrew.com/stories/2023/08/29/disney-sued-by-film-financiers

A pipeline progress report
https://www.accountingtoday.com/podcast/a-progress-report-on-accountings-pipeline-problem

Rethinking the 150-Hour Requirement for CPA Licensure
https://www.cpajournal.com/2023/11/27/rethinking-the-150-hour-requirement-for-cpa-licensure/

Accounting Education Disrupted
https://www.cpajournal.com/2023/11/21/accounting-education-disrupted/

KPMG, Deloitte Ask Staff to Use Burner Phones for HK Visits: FT
https://news.bloombergtax.com/financial-accounting/kpmg-deloitte-ask-staff-to-use-burner-phones-for-hk-visits-ft

Deloitte and KPMG encourage use of burner phones in Hong Kong
https://uk.finance.yahoo.com/news/deloitte-kpmg-encourage-burner-phones-101802848.html

NASBA starts search for CEO successor
https://www.accountingtoday.com/news/nasba-starts-search-for-ceo-successor

Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

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
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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
57 min
November 29, 2023Listener Mail: Compilations, Talent Crisis, ESOPs, 120 v. 150, TurboTax
Blake and David sort through the listener mailbag to find out what you think! Amongst the letters, we’ve got opinions on accounting without assurance and the industry talent crisis, as well as potential unethical practices by some tax experts, and the need for accrediting standards for accounting programs. Blake and David also address the complex nature of the taxation system and emphasize the need for industry-wide changes to address ethical dilemmas. Join us to hear all this and so much more!
Sponsors
OnPay - https://cloudaccountingpodcast.promo/onpay
Zoho - http://accountingpodcast.promo/zoho
Keeper - https://cloudaccountingpodcast.promo/keeper

Chapters
(00:30) - Welcome to the show and what we'll cover
(06:17) - Trump's legal team again blaming accountants for faulty financial statements
(07:57) - Anthony writes in about compilations
(12:54) - Nathan writes in to suggest more people contract audit work
(15:06) - Chris asks some questions about the BDO ESOP episode
(18:32) - Cheryl writes in about the 150-hour requirement
(21:07) - Kurt asks about the disparity between accounting graduate programs
(26:20) - Ryan tells a story of a client getting awful advice from a TurboTax Live employee
(32:40) - Digitial Accountants asks why so many tax clients want to push the envelope too far with tax returns and the IRS
(35:22) - Listener gives some insights on why academia is filled with the professors it has
(50:54) - A UK accounting firm has client data leaked after being hacked
(56:13) - The University of Arionza is missing $240 million
(01:00:12) - QuickBooks ProAdvisor badges and changes
(01:07:19) - Wrap up and remember you can earn free CPE from listening to this podcast
Show Notes
A cyberattack on a U.K. accounting firm wound up leaking U.S. ...
https://www.databreaches.net/a-cyberattack-on-a-u-k-accounting-firm-wound-up-leaking-u-s-patient-data-now-what/
Reimagined ProAdvisor Program Goes Live Today
https://insightfulaccountant.com/accounting-tech/general-ledger/reimagined-proadvisor-program-goes-live-today/
Always Something University and UofA $240-million accounting mistake
https://sports360az.com/always-something-university-and-uofa-240-million-accounting-mistake/
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

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
Royalwise - https://learn.royalwise.com/
Forwardly - https://www.forwardly.com/
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 12 min
November 22, 2023What's New in QuickBooks from Connect | Firms Turning Away Work Due to Staffing Shortages
We're back from QuickBooks Connect 2023 with announcements, updates, new features, and improvements in QuickBooks Online. Also, EY got fined $3 million for cheating on ethics exams, and 42 percent of firms are turning away work due to staff shortages. Finally, we discuss the disruption of Alphabet's main search business by Microsoft, Amazon, and Apple in the AI-powered assistant space.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Zoho - https://cloudaccountingpodcast.promo/zoho
Keeper - https://cloudaccountingpodcast.promo/keeper

Chapters
(00:32) - Blake and David are back from QuickBooks Connect
(01:06) - 31 Wrap up and thanks for listening
(05:41) - New QuickBooks features announced at QuickBooks Connect
(06:28) - QuickBooks Ledger
(08:50) - Expanded roles and permissions in QBO
(09:19) - QuickBooks Payroll cost allocations
(10:26) - Chart of Accounts templates
(11:29) - Changes to ProAdvisor Program
(12:11) - Now you can copy QBO files to a sandbox
(15:23) - Blake's AI session at QuickBooks Connect
(22:46) - Blake will be giving a webinar on AI on Earmark's Webinars+
(25:32) - EY Texas gets a $3 million penalty for cheating on ethics exams
(31:19) - 46% of EY audits in 2022 had flaws
(34:31) - What numbers do investors care about?
(38:24) - PCAOB says they have doubled their fines in recent years
(40:19) - More cities are struggling with ERP rollouts
(41:41) - Zoho introduces practice management software for accountants
(43:29) - Tech Radar's top laptops for accountants
(44:48) - Intuit updates their tax software and shuts down Mint
(50:42) - 42% of accountants turn down work over staff shortages
(53:04) - ClientHub introduces AI-enabled email integration
(54:37) - 3 AI-based accounting companies raise a lot of money
(01:04:01) - Is Google/Alphabet in trouble?

Show Notes
Intuit rolls out bevy of new features for the next tax season | Accounting Today
https://www.accountingtoday.com/news/intuit-rolls-out-bevy-of-new-features-for-the-next-tax-year

New product innovations at announced at QuickBooks Connect help accountants drive small business growth
https://www.firmofthefuture.com/quickbooks-connect/new-product-innovations/

PCAOB fines doubled in recent years | Accounting Today
https://www.accountingtoday.com/news/pcaob-fines-doubled-in-recent-years

Accounting firms hit with record US fines over audit failures
https://www.ft.com/content/25a65a49-4b94-4a80-82d8-435616a78f27

SURVEY: 42% of Accountants Turn Away Work Over Staff Shortages - CPA Trendlines
https://cpatrendlines.com/2023/11/09/survey-48-of-accountants-turn-away-work-over-staff-shortages/

Black Ore Emerges from Stealth with $60 Million in Funding to Bring AI to Financial Services
https://www.blackore.ai/articles/black-ore-emerges-from-stealth-with-60-million-funding
Launching Zoho Practice: The Ultimate Practice Management Software
https://www.zoho.com/blog/general/launching-zoho-practice.html

Bill Holdings Is Said to Near $1.95 Billion Deal for Melio
https://www.bloomberg.com/news/articles/2023-11-08/bill-holdings-is-said-to-near-1-95-billion-deal-for-melio

Bill Holdings stock sinks amid report of $1.95B deal talks for Melio ...
https://seekingalpha.com/news/4033680-bill-holdings-sinks-amid-report-of-195b-deal-talks-for-melio-payments

Bill Holdings denies media report on Melio deal
https://www.reuters.com/markets/deals/bill-holdings-nears-195-billion-payments-deal-melio-bloomberg-news-2023-11-08/

Puzzle secures $30m for revolutionary AI-powered accounting ...
https://fintech.global/2023/11/15/puzzle-secures-30m-for-revolutionary-ai-powered-accounting-platform/

EY Gets $3 Million Penalty by Texas Board of Public Accountancy
https://www.cpapracticeadvisor.com/2023/11/13/ey-gets-3-million-penalty-by-texas-board-of-public-accountancy/97576/

Bill's stock bounces after denial of report it was pursuing a $2 billion ...
https://www.marketwatch.com/story/bills-stock-bounces-after-denial-of-report-it-was-pursuing-a-2-billion-cash-and-stock-buyout-of-melio-payments-7562580b

Black Ore Raises $60 Million and Debuts AI Tool for Accountants
https://www.pymnts.com/news/investment-tracker/2023/black-ore-raises-60-million-dollars-debuts-artificial-intelligence-tool-accountants/

New Products at QuickBooks Connect Help Accountants Drive Small ...
https://www.cpapracticeadvisor.com/2023/11/14/new-products-at-quickbooks-connect-help-accountants-drive-small-business-growth/97644/

St. Louis comptroller said prior mayor wanted new accounting ...
https://www.stltoday.com/news/local/government-politics/st-louis-comptroller-said-prior-mayor-wanted-new-accounting-system-but-she-voted-for-it/article_8afa54ca-8275-11ee-9673-efc459761629.html

Intuit QuickBooks Unveils New Product Innovations at QuickBooks Connect that Help Accountants Drive Small Business Growth
1 hr 9 min
November 18, 2023How to Survive Public Accounting and the CPA Exam
CPA Exam prep rockstars Peter Olinto and Roger Philipp join Blake and David to discuss the evolution of the CPA Exam over time, the importance of making studying entertaining, and challenges facing the accounting profession like public accounting burnout. Both Olinto and Philipp believe competition between CPA review courses drives innovation and helps students pass the exam, and they aim to make studying engaging through humor, memory techniques, and technology.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow

Chapters
(00:38) - Where did you learn to make CPA exam prep entertaining?
(04:15) - Do you have any nightmare CPA exam stories?
(09:42) - What does the current CPA exam look like and what's changing in 2024?
(13:30) - Do you think the CPA exam changes will help the pipeline?
(16:15) - Have CPA exam pass rates gone up with the 5th-year requirement?
(17:57) - How did you both get involved with UWorld?
(20:57) - Advice for accountants struggling to balance studying with their work and lives
(27:22) - How are you dealing with reduced attention spans
(34:29) - Do you tell students to diet and exercise as part of exam prep?
(39:02) - Peter's famous coffee offer
(39:58) - Why do you think young accountants are leaving the profession?
(47:03) - The problem with work-life balance versus billable hours
(54:59) - Wrap up and where to find out more about UWorld
Meet Our Guests:
Peter Olinto
LinkedIn
: https://www.linkedin.com/in/peter-olinto-5966586b/
Twitter: https://twitter.com/peterolinto?lang=en
Roger Philipp, CPA, CGMA
LinkedIn: https://www.linkedin.com/in/rogerphilipp/
Twitter: https://twitter.com/rogercpa?lang=en
Show Notes
https://newsroom.uworld.com/story/uworld-launches-all-new-cpa-exam-review-product-to-prepare-candidates-for-the-2024-cpa-evolution/

Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

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
Forwardly - https://www.forwardly.com/
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
58 min

About The Accounting Podcast

From the publisher's feed

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…