The Accounting Podcast

By Blake Oliver & David LearyNews News Commentary Business News

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The Accounting Podcast episodes

August 16, 2023Exploring Solutions to the Accounting Talent Shortage with Jen Cryder, CEO at PICPA
Jen Cryder, CEO of the Pennsylvania Institute of Certified Public Accountants, joins Blake and David to discuss the accounting profession's pipeline problems, including the decline in accounting majors and the difficulties of replacing retiring CPAs. Join the discussion on solutions like work-and-learn models and redefining education requirements. Discover strategies to attract and retain talent, prioritizing the preferences of younger generations and aligning company culture with marketing efforts. Tune in to learn how accounting firms can refresh their image and flourish.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Forwardly - http://accountingpodcast.promo/forwardly
South Carolina Association of CPAs (SCACPA) - http://accountingpodcast.promo/SCACPA

Chapters
(00:00) - Preview: Not getting a Big 4 offer was the best thing to ever happen to me
(00:31) - Welcome Jen Cryder to the show and her overall thoughts on the accounting talent shortage and pipeline problem
(06:02) - What are your thoughts on Tulane's new professional advancement program?
(13:11) - Are substantial equivalency and mobility really a roadblock?
(17:21) - Smaller firms are the ones really impacted by this talent shortage
(18:40) - PCAOB says 40 percent of 2022 audits are deficient
(23:11) - What are the things younger accountants are really complaining about?
(28:04) - CPA firms hike starting salaries 14%
(30:02) - How do we encourage young people to go into the accounting profession?
(35:10) - Does accounting have more of a retention problem than a pipeline problem?
(43:27) - Accounting firms need to think of more creative ways to recruit
(46:38) - Remember to subscribe to The Accounting Podcast and where to reach Jen
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Show Notes
Unveiling CalCPA’s New Brand
https://www.youtube.com/watch?v=diGVHSgDpU0

Tax and Accounting Pay Advancing at 5.9% Pace
https://cpatrendlines.com/2023/08/08/tax-and-accounting-pay-advancing-at-5-9-pace/

AICPA, NASBA team with Tulane to ease CPA licensing | Accounting Today
https://www.accountingtoday.com/news/aicpa-nasba-team-with-tulane-to-ease-cpa-licensing

CPA firms facing talent shortage hike starting salaries 14% | CFO Dive
https://www.cfodive.com/news/cpa-firms-facing-talent-shortage-hike-starting-salaries-accounting-accountants/689913/

Pennsylvania CPAs try out work-and-learn model for young accountants | Accounting Today
https://www.accountingtoday.com/news/pennsylvania-cpas-try-out-work-and-learn-model-for-young-accountants

Connect with Our Guest, Jen Cryder
LinkedIn: https://www.linkedin.com/in/jencryder/
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
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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
48 min
August 14, 2023 Meet the Fraudster: Nathan Mueller (from the Oh My Fraud podcast)
Today, we have a special bonus episode from our sister podcast, Oh My Fraud. Hosts Caleb Newquist and Greg Kyte speak with Nathan Mueller. As a young person, Nathan was hyper-focused on wanting to make money, which led him to perpetuate an $8-million embezzlement scheme in the mid-2000s. Nathan tells his story and answers questions about the fraud, his time in prison, and his new job as ... an accountant!
Want to hear more Oh My Fraud episodes? Listen and subscribe at ohmyfraud.com

Follow Oh My Fraud on Social Media:
twitter.com/ohmyfraud
facebook.com/OhMyFraud
linkedin.com/oh-my-fraud
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1 hr 31 min
August 10, 2023Is Working From Home Less Productive? & IRS Is (Finally) Going Paperless
Blake and David delve into the use of AI in detecting plagiarism in students' papers and its implications for the ongoing debate on AI's impact on employment. They also shed light on the increasing cost of audits and the alarming decline in audit quality. Shifting the focus to remote work, they analyze a study's findings on productivity and emphasize the importance of considering the nature of the work. The conversation takes a concerning turn as they address the shortage of accounting staff and the urgent need to address overwork and its detrimental effects. The episode wraps up with an intriguing discussion on the IRS's transition to paperless operations and recent incidents involving lost tax information. As a bonus, they share amusing anecdotes of fraudsters and a heartwarming story of an accountant being inducted into a water ski hall of fame.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Zoho - http://accountingpodcast.promo/zoho
South Carolina Association of CPAs (SCACPA) - http://accountingpodcast.promo/SCACPA

Chapters
(00:04) - Preview: Where did Hunter Biden's income come from?
(00:42) - Welcome to the show and a few quick AI stories
(04:32) - Leaders split on whether AI will reduce or expand headcount
(06:27) - The price of audits has doubled over the last 20 years
(12:37) - Remote workers are less productive?
(20:45) - The cost of forcing employees back to the office
(27:43) - Less than 1% of accounting firms can find enough staff
(32:19) - EY Oceania survey shows problems with work hours and culture at firm
(37:33) - The IRS is going paperless?
(41:44) - The IRS is losing track of tax info during shipments
(43:12) - Some new details on the Hunter Biden story
(45:05) - Tax preparer arrested after seeking over $124 million in phony tax credits
(48:03) - A Chinese accountant stole the equivalent of $677,000 USD in an attempt to keep her boyfriend
(50:37) - Blake reads some listener mail on ways to get the extra 30 hours required for a CPA license, and if getting a CPA license is the right choice
(56:21) - How to reach David and Blake and subscribe to us on YouTube
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Show Notes
IRS loses track of tax info during shipments between processing centers | Accounting Today
https://www.accountingtoday.com/news/irs-loses-track-of-tax-info-during-shipments-between-processing-centers

Leaders split on whether AI will reduce or expand headcount | Accounting Today
https://www.accountingtoday.com/news/leaders-split-on-whether-ai-will-reduce-or-expand-headcount

Hunter Biden plea deal outlines tax and accounting problems | Accounting Today
https://www.accountingtoday.com/articles/hunter-biden-plea-deal-outlines-tax-and-accounting-problems

Less than 1% of accounting firms can find enough staff | Accounting Today
https://www.accountingtoday.com/news/less-than-1-of-accounting-firms-can-find-enough-staff

IRS will finally let most Americans file taxes online next year
https://www.theverge.com/2023/8/3/23818531/irs-paperless-tax-filings-2024

Audit fees triple in 20 years | Accounting Today
https://www.accountingtoday.com/news/audit-fees-triple-in-20-years

We're now finding out the damaging results of the mandated return to the office–and it's worse than we thought
https://fortune.com/2023/08/01/research-damaging-results-mandated-return-to-office-worse-than-we-thought-rto-remote-work-careers-leadership-gleb-tsipursky/

Students can use AI on applications, Arizona State law school says | Reuters
https://www.reuters.com/legal/transactional/students-can-use-ai-applications-arizona-state-law-school-says-2023-07-28/

EY Finally Admits It Has Some Serious Culture and Overwork Problems After Someone Died at the Office
https://www.goingconcern.com/ey-finally-admits-it-has-some-serious-culture-and-overwork-problems-after-someone-died-at-the-office/

JPMorgan CEO Jamie Dimon chides managers who work from home: ‘I don’t know how you can be a leader and not be completely accessible to your people’
https://finance.yahoo.com/news/jpmorgan-ceo-jamie-dimon-chides-184750015.html
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
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Podchaser: http://cloudacctpod.link/podchaser
Spotify: http://clouda...
58 min
August 02, 2023Cooking the Books with Barbie: The Downfall of Mattel's Co-Founder & Barbie Inventor
In this episode, Blake and David cover the downfall of Mattel's co-founder and Barbie inventor, Intuit's new ad network that allows businesses to target specific audiences using data from QuickBooks Online, and the increasing rate of deficiencies in public company audits. They also discuss the detrimental effect of the 150-hour rule on students pursuing careers in accounting, the availability of a malicious code-writing tool called Fraud GPT on the dark web, and the use of AI in customer support and sales calls.
Sponsors
OnPay - https://cloudaccountingpodcast.promo/onpay
Relay - https://cloudaccountingpodcast.promo/relay
Forwardly - https://cloudaccountingpodcast.promo/forwardly

Chapters
(00:04) - Be prepared for higher prices because of AI
(00:46) - What does Barbie have to do with accounting?
(04:44) - Intuit is launching an ad network
(11:39) - As much as 40% of audits in 2022 could be deficient
(20:29) - Why are students switching majors away from accounting?
(24:15) - IRS will no longer do any unannounced visits
(25:32) - Hunter Biden saga update
(27:12) - Sage announces latest earnings
(28:52) - FraudGPT - dark web service
(30:26) - Real-life example of AI use case for a company
(33:55) - New conversational AI Air demo sales call
(38:42) - ChatGPT introduces custom instructions
(39:28) - Plaid announces deal with Cross River Banks
(40:14) - Blake reads some Youtube comments on the TurboTax video
(44:51) - A few quick final stories
(48:48) - Wrap up and where to reach us

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Show Notes
22 years after the $63 billion Enron collapse, a key audit review board finds the industry in a 'completely unacceptable' state
https://fortune.com/2023/07/26/pcaob-audit-completely-unnacceptable-error-rate-enron-big-4-consulting/

150-hour requirement seen as a significant barrier to accounting by young people
https://www.accountingtoday.com/news/150-hour-requirement-seen-as-a-significant-barrier-to-accounting-by-young-people

The Sage Group plc (SGGEF) Q3 2023 Earnings Call Transcript
https://seekingalpha.com/article/4620753-sage-group-plc-sggef-q3-2023-earnings-call-transcript

Plaid Taps Cross River to Offer Real-Time Payments
https://www.pymnts.com/real-time-payments/2023/cross-river-teams-with-plaid-to-offer-real-time-payments/

Sage sees solid growth in Q3
https://www.enterprisetimes.co.uk/2023/07/28/sage-sees-solid-growth-in-q3/

Intuit Launches B2B Ad Network Targeting Small Business Owners
https://www.mediapost.com/publications/article/387583/intuit-launches-b2b-ad-network-targeting-small-bus.html

Unannounced IRS revenue officer visits discontinued
https://proconnect.intuit.com/taxprocenter/tax-law-and-news/unannounced-irs-revenue-officer-visits-discontinued/

U.S. Accounting Watchdog Flags 'Unacceptable' Increase in Audit ...
https://money.usnews.com/investing/news/articles/2023-07-25/u-s-accounting-watchdog-flags-unacceptable-increase-in-audit-deficiencies

IRS good at addressing cyberthreats, but not documenting them
https://www.accountingtoday.com/news/report-says-irs-good-at-addressing-cyberthreats-but-not-at-documenting-them-later

Exclusive: Mailchimp Owner Intuit Launches Media Network for Small Businesses
https://www.adweek.com/programmatic/exclusive-mailchimp-owner-intuit-launches-media-network-for-small-businesses/

New AI Tool 'FraudGPT' Emerges, Tailored for Sophisticated Attacks
https://thehackernews.com/2023/07/new-ai-tool-fraudgpt-emerges-tailored.html

Accounting Watchdog Expects Deficiencies in 40% of Public-Company Audits in 2022 - WSJ
https://www.wsj.com/articles/accounting-watchdog-expects-deficiencies-in-40-of-public-company-audits-in-2022-badfcda

All About Barbie Inventor Ruth Handler: Where She Is Today
https://www.womenshealthmag.com/life/a44610455/ruth-handler-barbie/

How Vector Media transformed its customer support with AI | Zapier
https://zapier.com/blog/nations-largest-ad-transit-company-transformed-customer-support-with-ai/

theCAQ.org | Significant Barriers Deter Students from Pursuing a Degree in Accounting, According to CAQ Report
https://www.thecaq.org/pipelineresearch2023

IRS whistleblowers accuse Hunter Biden during congressional hearing | Accounting Today
https://www.accountingtoday.com/news/irs-whistleblowers-accuse-hunter-biden-during-congressional-hearing

Want to Search PCAOB Inspection Reports By How Many Screw-Ups an Audit Firm Made? You Can Now Do That - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2023/07/20/new-online-tools-pcaob-inspection-reports/82128/...
52 min
July 26, 2023The Big Money In AI & The Impact of the Ripple Crypto Decision
In this episode of The Accounting Podcast, Blake and David discuss the economic impact of Taylor Swift's "The Eras Tour," Microsoft's CoPilot price with AI, the SEC vs Ripple case decision, the launch of FedNow, and a bill proposed by two senators to ban lawmakers from owning stocks. They also dig into stories about Apple's work on AppleGPT, software spending rising 25% over the last 12 months, the 150-hour rule, and the lack of black accountants in the profession. They dive into a case study for good marketing in accounting, ClientEarth warning Big 6 audit firms to protect the planet, a WSJ editorial board blaming accounting shortage on Biden, and close with a few fast QuickBooks stories, and much more!
Sponsors
LiveFlow - https://cloudaccountingpodcast.promo/liveflow
Zoho - https://cloudaccountingpodcast.promo/zoho
Accruer - http://accountingpodcast.promo/accruer

Chapters
(00:04) - Preview: Taylor Swift's "The Eras Tour" economic impact
(00:36) - Welcome to The Accounting Podcast and a quick overview of topics for this episode
(02:59) - Microsoft announces CoPilot price with AI
(10:07) - SEC vs Ripple case decision
(18:51) - FedNow finally launched
(23:35) - Two senators are proposing bill on ban of lawmakers owning stocks
(26:09) - Blake checks in on the live chat
(26:49) - Apple working on AppleGPT
(29:05) - Software spending rose 25% over the last 12 months
(30:23) - Article on the 150-hour rule and lack of black accountants in the profession
(33:05) - Blake and David look at a case study for good marketing in accounting
(36:22) - Taylor Swift's billion-dollar impact on the economy
(39:26) - ClientEarth warning Big 6 audit firms to protect the planet
(41:42) - WSJ editorial board blames accounting shortage on Biden
(46:45) - Bench Accounting
(47:22) - 3 fast QuickBooks stories
(49:42) - Accounting startup Dougs raises $27 million
(50:47) - Shopify builds in a Zoom cost calculator
(52:40) - Shopify releases AI update
(56:30) - Blake reads some listener mail
(59:42) - Wrap up and where to reach David and Blake

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Show Notes
Sens. Kirsten Gillibrand and Josh Hawley to unveil a bill to bar executive-branch members and lawmakers from owning stock in individual companies
https://www.wsj.com/articles/senators-to-propose-ban-on-u-s-lawmakers-executive-branch-members-owning-stock-6db6411

New comment on "339. 15-Year-Old Passes CPA Exam; NY Requires Independent Audits of AI Hiring Processes"
https://mail.google.com/mail/u/0/#inbox/FMfcgzGtwCxwDBHndZBtfKHkBgCgXhpr

Taylor Swift's Economic Impact Has Caught the Eye of the Fed
https://markets.businessinsider.com/news/stocks/taylor-swifts-economic-impact-catches-attention-federal-reserve-hotel-revenue-2023-7

After bootstrapping for 8 years, accounting startup Dougs raises $27 million | TechCrunch
https://techcrunch.com/2023/07/04/after-bootstrapping-for-8-years-accounting-startup-dougs-raises-27-million/

Shopify's crusade against Zoom meetings now includes a cost calculator: 'Most of the modern work environment is broken'
https://fortune.com/2023/07/12/remote-work-zoom-meeting-shopify-cost-calculator-modern-work-broken/

Shopify Sidekick video
https://twitter.com/tobi/status/1679114154756669441?s=20

Bridging the Gap: Between the Generations
https://www.intuitiveaccountant.com/education-hub/training-center/bridging-the-gap-between-the-generations/

☕️ NOW, FED ☙ Friday, July 21, 2023 ☙ C&C NEWS 🦠
https://www.coffeeandcovid.com/p/now-fed-friday-july-21-2023-c-and

KPMG Rolls Out Generative AI to Tax Pros, Launches Audit Pilot
https://news.bloombergtax.com/financial-accounting/kpmg-rolls-out-generative-ai-to-tax-pros-launches-audit-pilot

QuickBooks Checking Simplifies Bank Feeds Matching
https://www.intuitiveaccountant.com/accounting-tech/general-ledger/quickbooks-checking-simplifies-bank-feeds-matching/

Big Six senior leadership missing in action on climate reporting and ...
https://www.clientearth.org/latest/press-office/press/big-six-senior-leadership-missing-in-action-on-climate-reporting-and-audit/

FedNow launch: Fed's new instant payment system, goes live July 20
https://www.usatoday.com/story/money/2023/07/20/fednow-launch-fed-instant-pay-service/70434964007/

Accounting firms accused of missing climate risks in company audits
https://www.ft.com/content/befa329f-43bb-42fb-baeb-e0ae22d68acf

The Biden Accounting Jobs Boom - WSJ
https://www.wsj.com/articles/tax-accounting-jobs-boom-biden-economy-taxes-internal-revenue-service-8db189ae

QuickBooks Time Now QuickBooks Workforce
https://www.intuitiveaccountant.com/accounting-tech/general-ledger/quickbooks-time-now-quickbooks-workforce/

Why the CPA qualification’s 150-hour college credit rule is outdated–and inequitable
1 hr 2 min
July 20, 2023How To Know If An App Will Survive & Big Tax Prep Sent Taxpayer Data to Facebook
This week, Blake and David talk app survival signs, Big Tax Prep sending taxpayer data to Facebook, and the dearth of accountants visible in financials. They cover news from the accounting world, including Jirav's $20 million raise in its series B round, and Pilot's 13% workforce layoff, Collective's $50 million raise, and the story about the IRS website sending data to Google Analytics. They also discuss the Accountests ChatGPT challenge and Claude.AI as a ChatGPT alternative.
Sponsors
Zoho - https://cloudaccountingpodcast.promo/zoho
Forwardly - https://cloudaccountingpodcast.promo/forwardly
Accruer - http://accountingpodcast.promo/accruer

Chapters
(00:00) - Preview: Owning your own accounting firm is a path to the upper middle class
(00:59) - Welcome to The Accounting Podcast
(03:04) - Jirav raises $20 million in series B round
(04:09) - How likely a startup is to fail based on their funding round
(09:45) - Is this the end of Evernote?
(12:00) - Codat removing desktop API support from some plans
(15:14) - Pilot lays off 13% of its workforce
(18:10) - Collective raises $50 million
(19:49) - Are tax prep companies giving customers' personal information to social media giants?
(29:38) - Even the IRS website sends your data to Google Analytics!
(35:06) - WSJ article on the accounting shortage
(39:32) - Blake checks in on the live chat
(49:15) - Accountests ChatGPT challenge
(53:29) - Claude.AI as a ChatGPT alternative
(56:49) - Wrap up and please check out our TurboTax Live Business Tax Return experience video on our YouTube channel

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Show Notes
Jirav raises $20M in Series B | Accounting Today
https://www.accountingtoday.com/news/jirav-raises-20m-in-series-b

3 tax prep firms shared 'extraordinarily sensitive' data about taxpayers with Meta, lawmakers say
https://apnews.com/article/irs-taxpayer-tax-preparation-meta-congress-9315cfca7a0942ab89f765d183fbf822

Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds | CNN Business
https://www.cnn.com/2023/07/12/tech/tax-prep-companies-taxpayer-data-google-meta/index.html

The dearth of accountants has now become visible in several financial reports, with companies pleading difficulty in finding and retaining skilled people.
https://www.wsj.com/articles/the-accountant-shortage-is-showing-up-in-financial-statements-b14a6b94

ChatGPT Does Accountests Debits & Credits Test
https://www.accountests.com/blogs/news/chatgpt-does-accountests-debits-credits-test

Pilot lays off 13% of workforce – 45 Employees - LayoffsTracker
https://layoffstracker.com/pilot-lays-off-13-of-workforce-45-employees/?expand_article

ChatGPT scores 90% on debits & credits test
https://www.blakeoliver.com/blog/chatgpt-scores-90-on-debits-amp-credits-test

Some Chicago Restaurants Are Still Adding Surcharges Of Up to 20% to Checks. Should They?
https://www.nbcchicago.com/news/local/some-chicago-restaurants-are-still-adding-surcharges-of-up-to-20-to-your-bill-should-they/3055697/

2023-10-10: Change in pricing for some accounting integrations
https://docs.codat.io/updates/231010-deprecation-onprem-erp-premium

Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds
https://www.cnn.com/2023/07/12/tech/tax-prep-companies-taxpayer-data-google-meta/index.html

Attacks%20on%20Tax%20Privacy_Final.pdf
https://www.warren.senate.gov/imo/media/doc/Attacks%20on%20Tax%20Privacy_Final.pdf

Jirav Announces $20M Series B Round Led By Cota Capital
https://www.intuitiveaccountant.com/in-the-news/people-and-business/jirav-announces-20m-series-b-round-led-by-cota-capital/

The U.S. Tax Code Is Too Complex for Direct eFile to Work
https://taxfoundation.org/irs-efile-prefilled-tax-returns/

IRS renews cybersecurity push for tax pros
https://www.accountingtoday.com/news/irs-renews-cybersecurity-push-for-tax-pros

The Accountant Shortage Is Showing Up in Financial Statements
https://www.wsj.com/articles/the-accountant-shortage-is-showing-up-in-financial-statements-b14a6b94

Collective, a financial management platform for freelancers, raises $50M
https://techcrunch.com/2023/07/11/collective-a-financial-management-platform-for-freelancers-raises-50m/

Bay Area tech firm relocating to Europe, lays off most staff https://www.sfgate.com/tech/article/evernote-layoffs-moving-to-europe-18190083.php
Get in Touch
Thanks for listening and for the great reviews! We appreciate you! Follow and tweet
55 min
July 18, 2023Review of TurboTax LIVE Full Service Business 2023 for Tax Professionals
Join Blake Oliver, CPA, and David Leary as they review using TurboTax Live Full Service for their business taxes. See their candid reactions and feedback as they go through the process of filing their 2022 taxes with TurboTax for the first time.
Blake and David walk through the steps of getting matched with a tax expert, gathering documents, communicating with their preparer, and finally filing their partnership return. You'll look at the portal used for document exchange, see the questions asked during onboarding, and find out what last-minute items held up their return filing.
See if the "tax expert" delivers and how the return process compares to working directly with a CPA or EA. If you're on the fence about trying TurboTax Live Full Service for your business taxes, this candid review will showcase the pros and cons to help you decide.
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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
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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
48 min
July 14, 2023Building a Remote eCommerce Firm with Meryl Johnston of Bean Ninjas
Learn how Meryl built a 30-headcount bookkeeping firm in eight years that can operate without her. We also get Meryl's take on the PwC scandal in Australia. Earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at earmarkcpe.com.
Sponsors
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Chapters
(00:04) - Preview: Why can't the US tax deadlines be as relaxed as Australia's
(00:29) - Welcome Meryl Johnston to the show and some background on Bean Ninjas
(05:28) - Tell us a little about the growth of Bean Ninjas, remote work, and taking a step back from day-to-day operations
(10:05) - How does Meryl track employees' work when they're remote?
(11:52) - Can you tell us about Bean Ninja's journey of niching?
(22:25) - How do you deal with communication challenges with remote work and different schedules
(26:53) - What is the current size of your firm, and what type of work do you now do?
(33:38) - What do you tell accountants who are afraid to niche?
(36:32) - Is the accounting talent crisis also happening in Australia?
(38:31) - Meryl gives her take on the PwC scandal in Australia
(44:50) - Are 2 new Australian tech companies coming for Xero's throne?
(51:40) - Is software plus a service the future of accounting tech?
(55:17) - Wrap up and how people can listen to Meryl's podcasts
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Show Notes
Fuel Up the Bus, PwC Australia Has Named and Shamed Eight Partners Tied to the Tax Leak Scandal
https://www.goingconcern.com/fuel-up-the-bus-pwc-australia-has-named-and-shamed-eight-partners-tied-to-the-tax-leak-scandal/

PwC Sold Off Its Scandal-Plagued Government Consulting Business For 67 Cents - Going Concern
https://www.goingconcern.com/pwc-sold-off-its-scandal-plagued-government-consulting-business-for-67-cents/

PwC Sold a Part of Its Australian Business for $1 Because of Tax Leak Scandal - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2023/06/29/pwc-sold-a-part-of-its-australian-business-for-67-cents-because-of-tax-leak-scandal/81609/

A new threat to Xero? The rise of Hnry: a one-stop shop for sole traders, ft. Karan Anand
https://www.raskmedia.com.au/2023/06/27/xero-risk-hnry-accounting-karan-anand/

Exclusive: PwC Australia ties Google to tax leak scandal – sources
https://www.reuters.com/technology/pwc-australia-ties-google-tax-leak-scandal-sources-2023-07-05/

Thriday swings at big accounting platforms with AI expense tool
https://www.smartcompany.com.au/finance/tax/thriday-business-expense-bank-ai-artificial-intelligence/
Meet Our Guest, Meryl Johnston
LinkedIn: https://www.linkedin.com/in/meryl-johnston-3a483728/
Website: https://beanninjas.com/
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
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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.
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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
58 min
July 11, 202315-Year-Old Passes CPA Exam & NY Requires Independent Audits of AI Hiring Processes
In this episode, Blake and David examine the story of the 15-year-old who recently passed the CPA exam, as well as recent news involving accounting firms transitioning to corporations, AI investments, and new laws concerning AI hiring. They also cover several tech stories related to accounting, problems with client portals, and much more!
Sponsors
OnPay - https://cloudaccountingpodcast.promo/onpay
Relay - https://cloudaccountingpodcast.promo/relay
Forwardly - https://cloudaccountingpodcast.promo/forwardly

Chapters
(00:04) - Preview: Accounting firms will transition to corporations
(00:41) - Blake and David are back from their trips
(04:44) - A 15-year-old in Mississippi has passed the CPA exam
(06:41) - Jennifer asks about TAP's TurboTax Live Business experience
(09:46) - Mackenzie's voicemail re: accounting shortage
(18:18) - BDO USA is shifting from a partnership to a corporation
(20:36) - EY officially announces it has called off "Project Everest" but is still the number one US audit firm for public companies
(22:43) - M365 Co-Pilot updates
(28:08) - Thomson Reuters announces $100 million per year AI investment
(29:06) - Avalara launches a sales tax calculator in ChatGPT
(33:19) - Gusto hires former head of data science and analytics from Google
(34:11) - Taxfyle releases AI tax-prep bot
(36:06) - New York announces new AI law for hiring
(40:10) - A few more quick tech stories and the problems with client portals
(43:01) - Wrapbook wrap-up
(47:40) - Where to reach David and Blake

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Show Notes
Tech News: TaxFyle releases AI tax prep bot
https://www.accountingtoday.com/list/tech-news-taxfyle-releases-generative-ai-tax-prep-bot

Why everyone is mad about New York’s AI hiring law
https://www.technologyreview.com/2023/07/10/1076013/new-york-ai-hiring-law/

Mississippi youth passes CPA Exam – at Age 15
https://www.journalofaccountancy.com/news/2023/jun/mississippi-youth-passes-cpa-exam-at-age-15.html

BDO USA is Shifting From a Partnership to a Corporation - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2023/06/26/bdo-usa-is-shifting-from-a-partnership-to-a-corporation/81445/

Gusto hires former Google exec to add AI to products | Accounting Today
https://www.accountingtoday.com/news/gusto-hires-former-google-exec-to-add-ai-to-products

KPMG cuts 5% of U.S. workforce | Accounting Today
https://www.accountingtoday.com/news/kpmg-cuts-5-of-u-s-workforce

KPMG’s Big Four Dominance on Bank Audits Shaken by Failures
https://news.bloombergtax.com/financial-accounting/kpmgs-big-four-dominance-on-bank-audits-shaken-by-failures

Thomson Reuters adding AI to tax software | Accounting Today
https://www.accountingtoday.com/news/thomson-reuters-adding-ai-to-tax-software

EY Tops Rival Audit Firms in Public Company Clients - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2023/06/20/ey-tops-rivals-in-public-company-audit-clients/81193/

Shopify vows to fight CRA request to hand over records from more than 121,000 Canadian businesses
https://www.ctvnews.ca/business/shopify-vows-to-fight-cra-request-to-hand-over-records-from-more-than-121-000-canadian-businesses-1.6454822

Accounting firm EY calls off ‘Project Everest’ to break up firm ...
https://www.dailymirror.lk/business/Accounting-firm-EY-calls-off-Project-Everest-to-break-up-firm/215-261867

Finance Automation Platform Ramp Acquires AI Startup Cohere.io
https://www.pymnts.com/artificial-intelligence-2/2023/finance-automation-platform-ramp-acquires-ai-startup-cohere-io/

BDO USA is Shifting From a Partnership to a Corporation
https://www.cpapracticeadvisor.com/2023/06/26/bdo-usa-is-shifting-from-a-partnership-to-a-corporation/81445/

M365 Copilot, Microsoft’s generative AI tool, explained
https://www.computerworld.com/article/3700709/m365-copilot-microsofts-generative-ai-tool-explained.html

Intuit Supercharges Intuit GenOS with OpenAI’s Large Language Models to Bring GenAI Experiences to Customers
https://investors.intuit.com/news/news-details/2023/Intuit-Supercharges-Intuit-GenOS-with-OpenAIs-Large-Language-Models-to-Bring-GenAI-Experiences-to-Customers/default.aspx

Wrapbook Expands its Payroll Platform to Enable Seamless ...
https://www.businesswire.com/news/home/20230629819270/en/Wrapbook-Expands-its-Payroll-Platform-to-Enable-Seamless-Collaboration-Across-Production-and-Accounting-Teams

Kraken ordered to turn over its users' information to the IRS
https://www.accountingtoday.com/articles/kraken-ordered-to-turn-over-its-users-information-to-the-irs
50 min
June 28, 2023How Much Should A CPA Charge For A Business Tax Return? (with Roger Knecht)
In this episode of the Accounting Podcast, Blake and David talk to CPA Roger Knecht about how much CPAs should charge for business tax returns. They also touch on the latest news, including Hunter Biden's plea deal for tax charges, the Pentagon overestimating supplies sent to Ukraine by $6.2 billion, and the SEC charging Marcum with quality control failures. They also dig into sports gamblers losing more money as parlays gain popularity, Roger's five pricing strategies, and AI in accounting.
Sponsors
OnPay - https://cloudaccountingpodcast.promo/onpay
Relay - https://cloudaccountingpodcast.promo/relay
Helcim - https://cloudaccountingpodcast.promo/helcim

Chapters
(00:23) - Preview: CPAs are pricing themselves too low
(00:54) - Welcome Roger to the show and a little background on what he does
(03:01) - What topics we'll cover in this episode
(04:06) - Hunter Biden takes plea deal in tax charges
(09:01) - Pentagon overestimates supplies sent to Ukraine by $6.2 billion
(12:08) - Who will win: Elon Musk vs Mark Zuckerberg
(15:48) - CPA Ontario and CPA Quebec sever ties with CPA Canada
(19:14) - The SEC charges Marcum with quality control failures
(28:54) - Yahoo Finance article on how much people should expect to pay for a CPA
(35:35) - Sports bettors losing more money as parlays gain popularity
(41:01) - Roger's 5 pricing strategies
(44:42) - Some updates on AI in accounting
(53:07) - Wrap up and where to reach Roger

Need CPE?
Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com
Get CPE for listening to podcasts with Earmark CPE: https://earmarkcpe
Meet Our Guest, Roger Knecht:
Website: https://universalaccounting.com/
LinkedIn: https://www.linkedin.com/in/rogerknecht/
Twitter: https://twitter.com/universalacct
Facebook: https://www.facebook.com/universalaccountingschool
Instagram: https://www.instagram.com/rogerknecht/

Show Notes
Even by the standards of billionaire-versus-billionaire tiffs, the proposed cage fight between Elon Musk and Mark Zuckerberg stands out
https://www.wsj.com/articles/elon-musk-mark-zuckerberg-cage-fight-b71fa4ff

Marcum, the SEC said, audited nearly half of the roughly 860 SPAC IPOs in 2020 and 2021. The firm agreed to pay the SEC $10 million in fines for widespread failures in its audits.
https://www.wsj.com/articles/marcum-to-settle-sec-pcaob-claims-over-widespread-failures-in-spac-audits-bb8f3d48

Accounting Mistake Caused Pentagon to Overestimate Cost of Weapons Sent to Ukraine by $6.2B - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2023/06/21/accounting-error-caused-pentagon-to-overestimate-cost-of-weapons-sent-to-ukraine-by-6-2b/81322/

I'm a Small Business Owner. How Much Will a CPA Cost Me?
https://finance.yahoo.com/news/im-small-business-owner-much-130149992.html

4 in 5 Australians want PwC banned from new government work | Accountants Daily
https://www.accountantsdaily.com.au/regulation/18685-four-in-five-australians-want-pwc-banned-from-new-government-work

CPA Quebec, Ontario bodies sever ties with national organization
https://financialpost.com/fp-finance/cpa-quebec-ontario-sever-ties-national-organization

Hunter Biden expected to plead guilty to tax-related misdemeanor crimes as part of a plea agreement
https://www.nbcnews.com/news/amp/rcna90144

How much did Congress lose by defunding the IRS
https://www.washingtonpost.com/opinions/interactive/2023/irs-enforcement-costs-congress-funding/

Parlay bets are becoming a bigger part of online sports betting—which is good news for the house
https://www.wsj.com/articles/sports-better-win-lose-ddcaae24

BDO to Convert to a Corporation, Replacing US Partnership (2)
https://news.bloombergtax.com/financial-accounting/bdo-to-convert-to-a-corporation-replacing-its-us-partnership

New bookkeeping platform Thriday says AI is on its way to save you from taxes and accountants
https://stockhead.com.au/tech/new-bookkeeping-platform-thriday-says-ai-is-on-its-way-to-save-you-from-taxes-and-accountants/

CLA launches high school summer intern program
https://www.accountingtoday.com/news/cla-launches-high-school-summer-intern-program

Jeff Seibert, CEO and Co-Founder of Digits – Interview Series
https://www.unite.ai/jeff-seibert-ceo-and-co-founder-of-digits-interview-series/

KPMG's Banking Troubles Give Accounting a Black Eye (Podcast)
https://news.bloombergtax.com/daily-tax-report/kpmgs-banking-troubles-give-accounting-a-black-eye-podcast

Digits AI Debuts as World's First Secure, Accurate, Business Finance AI
https://www.prnewswire.com/news-releases/digits-ai-debuts-as-worlds-first-secure-accurate-business-finance-ai-301857407.html

Pentagon's Ukraine ac...
55 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…