The Accounting Podcast

The Accounting Podcast

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

  • Israel War Impact on Fintech | FTX & Trump Trial Updates | Iowa Blames Workday

    There’s a lot to digest in this episode! Blake and David discuss Microsoft's $28.9 billion tax bill, and examine a tax-fraud scheme involving art donations. JPMorgan Chase CEO Jamie Dimon predicts that AI advancements will create a shorter workweek in the future. They also look at Xero’s newest features, including improved algorithms for recognizing new contacts and bank reconciliation statements, and talk about Grant Thornton's implementation of Git Assist, an AI tool for accessing internal knowledge resources. All this and so much more, right here, right now!
     

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    Chapters
    • (00:35) - The war in Israel and its effect on tech startups
  • (04:16) - Heather Smith sends in an example of an AI language changer she used
  • (06:29) - Arthur Andersen's Chicago house for sale
  • (08:57) - Updates from the FTX, Sam Bankman-Fried trial
  • (15:24) - IRS contractor who leaked tax returns of famous agrees to plea deal
  • (17:28) - Trump trial updates
  • (21:14) - George Santos facing 23 new charges
  • (23:15) - Update on the Canada CPA standoff
  • (25:07) - Nationwide accounting shortage is threatening small towns
  • (26:24) - Number of accounting graduates drop largest percentage in single year since 1985
  • (29:28) - Workday and the problem with schools rolling out ERP's
  • (34:56) - What pricing lessons accounting firms can learn from ski resorts
  • (39:50) - CFO Brew's survey on remote work
  • (43:06) - IRS says Microsoft owes $28.9 billion in back taxes
  • (47:19) - IRS tax-gap predictions, and scams to watch for in 2022
  • (50:38) - Jamie Dimon predicts AI will reduce workweeks to 3.5 days
  • (51:35) - Xero announces new AI features
  • (52:28) - Grant Thornton rolls out GT Assist
  • (54:52) - Earn free CPE for listening to this episode and remember to subscribe
  •  

    Show Notes

    Pool of accounting graduates shrinks, AICPA report finds

    https://www.journalofaccountancy.com/news/2023/oct/pool-of-accounting-graduates-shrinks-aicpa-report-finds.html

     

    Report: Iowa can pay the bills but lacks transparency in its accounting

    https://blackchronicle.com/midwest/iowa/report-iowa-can-pay-the-bills-but-lacks-transparency-in-its-accounting/

     

    New accounting system causes bill backlog at U of Washington

    https://www.insidehighered.com/news/quick-takes/2023/10/12/new-accounting-system-causes-bill-backlog-u-washington

     

    Grant Thornton launches internal generative AI tool          

    https://www.accountancydaily.co/grant-thornton-launches-internal-generative-ai-tool

     

    Art of Accounting: Leaving your job to start your own practice

    https://www.accountingtoday.com/opinion/art-of-accounting-leaving-your-job-to-start-your-own-practice

     

    Arthur Andersen's Winnetka home for sale

    https://www.chicagobusiness.com/residential-real-estate/arthur-andersens-winnetka-home-sale

     

    The SBF Trial is Embarrassing For Crypto Industry               

    https://www.smallbiztechnology.com/archive/2023/10/the-sbf-trial-is-embarrassing-for-crypto-industry.html/

     

    Returning to the office is costing you $51 per day, study finds       

    https://finance.yahoo.com/news/returning-office-costing-51-per-172630839.html

     

    Microsoft May Owe $28.9 Billion in Back Taxes to the IRS

    https://gizmodo.com/microsoft-may-owe-28-9-billion-in-back-taxes-to-the-ir-1850921247

     

    IRS Says Tax Gap For 2021 Expected To Be $688 Billion     

    https://www.forbes.com/sites/kellyphillipserb/2023/10/12/irs-says-tax-gap-for-2021-expected-to-be-688-billion/

     

    How Israel's tech community is responding to the Israel-Hamas war           

    https://www.cnbc.com/2023/10/13/israels-tech-community-responds-to-israel-hamas-war.html

     

    Iowa's annual financial report late again; agencies mum on why

    https://www.bleedingheartland.com/2022/02/02/iowas-annual-financial-report-late-again-agencies-mum-on-why/

     

    Iowa auditor slams governor, state for delays threatening universities

    https://www.thegazette.com/higher-education/iowa-auditor-slams-governor-state-for-delays-threatening-universities/

     

    UW’s Financial Accounting System            

    https://www.washington.edu/opb/uws-financial-accounting-system/

     

    WSU recognized externally for Workday expertise              

    https://news.wsu.edu/news/2023/07/27/wsu-recognized-externally-for-workday-expertise/

     

    Ohio State drops effort to update student information system

    https://www.insidehighered.com/news/2022/01/11/ohio-state-drops-effort-update-student-information-system

     

    LMU announces Workday Forward; staff reflect on the “abysmal fiasco” of original Workday launch

    https://www.laloyolan.com/news/lmu-announces-workday-forward-staff-reflect-on-the-abysmal-fiasco-of-original-workday-launch/article_13a1bb8f-fae6-5958-abe4-c090a...

    56 min
  • Headlines: Microsoft's Puerto Rico Tax Odyssey

    After a decade-long audit, Microsoft is facing a whopping $29 billion tax bill from the IRS for what the agency claims was an "illusory scheme" to channel profits through Puerto Rico—but with years of appeals ahead, will the tech giant ultimately pay the total amount?


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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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    • YouTube: https://www.youtube.com/@TheAccountingPodcast
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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

    3 min
  • 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
    Relay - https://cloudaccountingpodcast.promo/relay
    Keeper - https://cloudaccountingpodcast.promo/keeper
    Accountests - https://cloudaccountingpodcast.promo/accountests


    Chapters
    • (00:47) - Don Jr. explains GAAP
  • (03:05) - Stories we'll cover this week
  • (05:11) - WSJ article on why no one is going into accounting
  • (09:28) - New Illinois CPA Society survey
  • (11:40) - The IRS is watching people who resold Taylor Swift tickets
  • (13:09) - Chick-fil-A is testing out robot servers and what accountants can learn in what customers want & expect in restaurants
  • (17:37) - Zoom adds AI companion features
  • (21:39) - FedNow hits milestone
  • (23:48) - Listener mail
  • (30:25) - QuickBooks offers a $50/month assisted bookkeeping service
  • (36:43) - Listener mail: Should I change majors from accounting?
  • (39:27) - FEMA and WGU are alternative ways to earn 150 credits
  • (42:43) - Microsoft using AI to help AI
  • (46:00) - Former IRS contractor charged with leaking billionaire tax filings
  • (50:03) - Trump blaming his former Mazars accountant in fraud trial
  • (54:36) - CPA Canada vs CPA Quebec and CPA Montreal updates
  • (56:53) - MGM cyber attack follow up
  • (59:16) - WSJ reports Binance is in trouble
  • (01:03:25) - 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=36ug7ecd0g4b0...

    1 hr 5 min
  • Headlines: The Top 10 Cities for U.S. Accountants

    Looking for the best cities to launch your accounting career? This top 10 countdown will highlight the metro areas with the highest demand, abundant jobs, and the most competitive salaries for accountants.

    Forbes Advisor compiled this list. See the full list here: https://www.forbes.com/advisor/education/top-cities-for-accountants/

    Need CPE? 

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


     

    Get in Touch

    Thanks for listening and 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 Apple Podcasts, 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; 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

    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
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    • Spotify: http://cloudacctpod.link/Spotify
    • Stitcher: http://cloudacctpod.link/Stitcher
    • Overcast: http://cloudacctpod.link/Overcast
    • YouTube: https://www.youtube.com/c/CloudAccountingPodcast


    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? Why not let the listeners of The Accounting Podcast know by running a classified ad? Hit the link below to get more info.

    Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd

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

    3 min
  • Straight Talk on Accounting's Big Issues with Dr. Sharon Lassar

    Sharon Lassar, Ph.D., CPA, and Director of the School of Accountancy at the University of Denver, shares concerns and perspectives on CPA licensure, including the resistance to changing the 150-hour requirement, the challenges of online learning and potential cheating, the impact on the value of the CPA designation, and the need for leadership and action from organizations like the AICPA and NASBA to address these issues and improve the profession.

    Meet Our Guest:

    Sharon Lassar, Ph.D., CPA
    LinkedIn: https://www.linkedin.com/in/sharon-lassar/
    Website: https://daniels.du.edu/directory/sharon-lassar/

    Need CPE? 

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

    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

    Subscribe

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


    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? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info.

    Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd 

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

    46 min
  • How Trump Defrauded Banks & Top Cities To Be An Accountant

    Blake and David cover a plethora of topics including positive customer experiences, legal rulings, top cities for accountants, and the pressure on Intuit from major banks. They also dig into the discovery of a large sum of cash at a senator's home, how Trump defrauded the banks, another potential government shutdown, and the accounting talent crisis. All this, and more, right here, right now!

    Sponsors
    OnPay - https://cloudaccountingpodcast.promo/onpay
    Relay - https://cloudaccountingpodcast.promo/relay
    OhMyFraud - https://ohmyfraud.com


    Chapters
    • (00:58) - Blake shares a good customer experience at a parking garage
  • (04:14) - CPACharge adds invoice payment directly through app
  • (06:58) - Donald Trump defrauded banks and insurers
  • (13:32) - Intuit pressured by credit card companies and banks to not support gun stores
  • (17:41) - Throwback to Burger King first accepting credit card payments
  • (21:41) - Top cities to be an accountant
  • (26:51) - Bob Menendez and how much cash an average person should keep at home
  • (31:46) - Government shutdown update and predictions
  • (35:51) - Kelly Richmond Pope on the accountant talent crisis
  • (42:44) - The IRS revolving door
  • (47:14) - PCAOB announces new audit rule
  • (50:41) - What accountants can learn from Smucker's hybrid work model
  • (53:51) - Amazon invests $4 billion in Anthropic's Claude
  • (55:46) - The Pentagon is using AI to navigate its own bloated policies
  • (57:46) - Deloitte CEO says he doesn't deserve his pay
  • (59:45) - We need more practical application in accounting classes
  • (01:02:56) - Wrap up and where to reach us

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    Show Notes

    Now the Profession Is Losing Experienced Accountants Too

    https://www.goingconcern.com/accountants-leaving-the-profession/

     

    Nearly 1,000 millionaires haven't filed tax returns

    https://www.accountingtoday.com/news/nearly-1-000-millionaires-havent-filed-tax-returns

     

    Jayapal, Warren Call on IRS to Address Revolving Door Between ...

    https://jayapal.house.gov/2023/09/28/jayapal-warren-call-on-irs-to-address-revolving-door-between-irs-and-giant-accounting-firms-after-troubling-inspector-general-findings/

     

    What CPAs can learn from Smucker's       

    https://www.accountingtoday.com/opinion/smuckers-sweet-recipe-for-rto-a-blend-of-flexibility-and-focus

     

    The top cities in the U.S. to be an accountant       

    https://www.accountingtoday.com/list/the-top-cities-in-the-u-s-to-be-an-accountant

     

    Intuit Reverses Ban On Gun-Related Businesses   

    https://www.zerohedge.com/political/intuit-reverses-ban-gun-related-businesses

     

    JPMorgan Chase Caught Trying to Block Gun Purchases   

    https://catholicvote.org/jpmorgan-caught-trying-block-gun-purchases/

     

    CPACharge Announces Automated Invoicing, Streamlining Customer Billing Cycle For Accounting Professionals      

    https://finance.yahoo.com/news/cpacharge-announces-automated-invoicing-streamlining-150000639.html

     

    As Government Shutdown Appears More Likely, Treasury Releases IRS Contingency Plan

    https://www.forbes.com/sites/kellyphillipserb/2023/09/28/as-government-shutdown-appears-more-likely-treasury-releases-irs-contingency-plan/

     

    The last government shutdown was the longest in more than 40 years

    https://www.cnn.com/2023/09/29/politics/last-federal-government-shutdown-longest-dg/index.html

     

    Audit Firms Face Stiffer Mandate to Verify Client Details Under New Rule

    https://www.wsj.com/articles/audit-firms-face-stiffer-mandate-to-verify-client-details-under-new-rule-679e30cd

     

    The top cities in the U.S. to be an accountant | Accounting Today

    https://www.accountingtoday.com/list/the-top-cities-in-the-u-s-to-be-an-accountant

     

    The Right Amount of Cash to Keep at Home for Emergencies. Hint: Not $480,000. – WSJ

    https://www.wsj.com/personal-finance/emergency-fund-cash-on-hand-b04136d1

     

    Judge rules Donald Trump defrauded banks and insurers while building real estate empire | AP News        

    https://apnews.com/article/donald-trump-letitia-james-fraud-lawsuit-1569245a9284427117b8d3ba5da74249

     

    Pentagon’s Budget Is So Bloated That It Needs an AI Program to Navigate It            

    https://theintercept.com/2023/09/20/pentagon-ai-budget-gamechanger/

     

    Amazon bets $4 billion on Anthropic’s Claude, the chatbot platform rivaling ChatGPT and Google's Bard | VentureBeat                

    https://venturebeat.com/ai/amazon-bets-4-billion-on-anthropics-claude-the-chatbot-that-rivals-chatgpt-and-googles-bard/

     

    Deloitte CEO Says He Doesn't Deserve His Pay - Going Concern     

    https://www.goingconcern.com/monday-morning-accounting-news-brief-deloitte-ceo-says-he-doesnt-deserve-his-pay-the-accountant-shuffle-7-17-23/

    1 hr 4 min
  • What’s New at Xero in the United States

    Ben Richmond, Xero's Country Manager for the United States, joins us to discuss new Xero product features like improved inventory management and AI integration, plans for the upcoming XeroCon 2024 conference, the future of the accounting profession, and Xero's sponsorship of the FIFA Women's World Cup. Ben provides an insider's look into Xero's roadmap and vision for transforming accounting with technology.

    • (00:00) - Intro and XeroCon Conference Plans
  • (02:15) - New Xero Product Features
  • (07:15) - AI in Accounting Software
  • (14:30) - Rebranding the Accounting Profession
  • (21:45) - Advice for Accounting Firms
  • (25:30) - Activating Brand Sponsorships
  • (30:15) - Xero's Small Business Fund
  • (37:00) - Diversity and Inclusion in Accounting

  • Meet Our Guest, Ben Richmond

    LinkedIn: https://www.linkedin.com/in/ben-richmond-ca-b8794220/
    Twitter: https://twitter.com/BenRichmond1

    Learn more about Xero
    https://www.xero.com/us/

    Show Notes:

    Xero Beautiful Business Fund (applications close Oct. 6)
    AI guide
    Xero's 2023 Money Matters Report
    Future Focus: Xero’s AI Guide for Accountants and Bookkeepers 


    Need CPE? 

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

    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

    Subscribe

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


    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? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info.

    Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd 

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

    42 min
  • The ERC Moratorium: What Accountants and Tax Pros Need to Know

    The recent moratorium on Employee Retention Credit (ERC) claims has big implications for accounting and tax professionals. In this episode, we break down what the ERC moratorium means and the key things you need to know as an accountant or tax preparer. We discuss how it will impact tax preparation and the diligence required to avoid invalid/fraudulent ERC claims, the bookkeeping and accounting changes to accommodate the moratorium, and the effects on audits. Tune in to understand what the ERC moratorium means for you and your work.


    Meet Our Guest:

    Reynaldo E. Arellano, CPA PFS CGMA
    LinkedIn: https://www.linkedin.com/in/reynaldoarellano/


    Need CPE? 

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

    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? 

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

    27 min
  • Could AI replace CEOs of CPA firms?

    Blake and David discuss the potential for AI to replace CEOs of CPA firms. They also dive into the increasing trend of remote work in accounting firms, contrasting the reservations expressed by some CEOs with the benefits of remote work for employees and the environment. Then, on to cryptocurrency scams and criticisms of the 150-hour rule for becoming a CPA, with listener emails sharing personal experiences and concerns about the rule.

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    Chapters
    • (00:34) - Blake is back from San Diego
  • (03:00) - Accountant rejects partnership offer to open daycare franchise
  • (04:39) - ChatGPT makes a YouTube video
  • (09:40) - IRS walks back promise to stay open during government shutdown
  • (14:01) - AICPA says IRS source thinks 95% of new ERC claims are ineligible
  • (15:26) - AICPA Town Hall spends 4x on M&A vs pipeline issues
  • (19:28) - IRS posts 3,700 new jobs
  • (21:03) - Check out the Unofficial QuickBooks Accountants Podcast
  • (22:22) - Will AI replace managing partners?
  • (25:48) - The real reason Jamie Dimon is so against remote work
  • (31:42) - Deloitte study demonstrates the benefits of remote work for employees
  • (35:14) - Study reveals remote workers cut greenhouse gas emissions by 54%
  • (37:11) - Mark Cuban lost $870k in a crypto scam
  • (40:30) - Tether is once again lending out their stablecoins - reversing earlier promise not to
  • (44:19) - The wild courses CPAs take to get their 150 hours
  • (47:23) - The accounting backgrounds of Republican presidential candidates
  • (49:57) - The IRS plans to use AI to audit large partnerships
  • (55:01) - Paulita is inspired by the podcast to get back into accounting
  • (58:57) - Final listener email and wrap-up

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    Show Notes

    People who work from home all the time ‘cut emissions by 54%’ against those in office | Greenhouse gas emissions                

    https://www.theguardian.com/environment/2023/sep/18/people-who-work-from-home-all-the-time-cut-emissions-by-54-against-those-in-office

     

    IRS to hire 3,700 agents to pursue wealthy tax dodgers    

    https://www.accountingtoday.com/articles/irs-seeks-to-hire-3-700-agents-to-pursue-wealthy-tax-dodgers

     

    California Companies Defer Billions in Taxes, Interest-Free, as Borrowing Costs Rise             

    https://www.wsj.com/articles/california-companies-defer-billions-in-taxes-interest-free-as-borrowing-costs-rise-8aea409f

     

    Experienced Accountants Sought by IRS for New Large Corp ...     

    https://tax.thomsonreuters.com/news/experienced-accountants-sought-by-irs-for-new-large-corp-partnership-auditor-positions/

     

    US government shutdown: What is it and who would be affected?              

    https://www.reuters.com/world/us/us-government-shutdown-what-closes-what-stays-open-2023-09-21/

     

    IRS to remain ‘fully operational’ if Congress triggers government shutdown            

    https://federalnewsnetwork.com/government-shutdown/2023/09/irs-to-remain-fully-operational-if-congress-triggers-government-shutdown/

     

    IRS to ‘partially close’ if government shutdown happens, reversing earlier plans, union says            

    https://federalnewsnetwork.com/government-shutdown/2023/09/irs-to-partially-close-if-government-shutdown-happens-reversing-earlier-plans-union-says/

     

    IRS Activities Following the Shutdown     

    https://www.irs.gov/newsroom/irs-activities-following-the-shutdown

     

    America's tax collectors may escape a possible government shutdown     

    https://finance.yahoo.com/news/americas-tax-collectors-may-escape-a-possible-government-shutdown-111211477.html

     

    Representative Introduced Bill Halting Legislator Pay During Shutdown

    https://www.businessinsider.com/bill-for-halting-legislator-pay-mccarthy-shutdown-act-2023-9

     

    JPMorgan's Jamie Dimon delivers a stern warning to remote workers - TheStreet 

    https://www.thestreet.com/personal-finance/jpmorgans-jamie-dimon-delivers-a-stern-warning-to-remote-workers

    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 necessit...

    1 hr 4 min
  • Headlines: Job Security Isn’t Enough to Keep Many Accountants From Quitting

    Accounting has long been viewed as a stable career, but in recent years, droves of accountants have been leaving the profession. Blake Oliver dives into a recent Wall Street Journal article highlighting the factors driving experienced accountants away, from burnout and boredom to the threat of automation.

    Show Notes
    Job Security Isn’t Enough to Keep Many Accountants From Quitting

    https://www.wsj.com/articles/accounting-quit-job-security-675fc28f

    Need CPE? 

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

     

    Get in Touch

    Thanks for listening and 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
     

    Subscribe

    • Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
    • Podchaser: http://cloudacctpod.link/podchaser
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    • Overcast: http://cloudacctpod.link/Overcast
    • YouTube: https://www.youtube.com/c/CloudAccountingPodcast

     

    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? Why not let The Accounting Podcast listeners know by running a classified ad? Hit the link below to get more info.

    Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd

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

    4 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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