The Accounting Podcast

By Blake Oliver & David LearyNews News Commentary Business News

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The Accounting Podcast episodes

June 21, 2023The ROI of IRS Audits | FedNow Payment Network Launching in July
In this episode, Blake and David talk about the lack of audits hurting the profession, alternatives to tracking hours, whether to pursue a CPA or EA, and salary advice for new accountants. Next, they tackle a ton of news including AI integration in Mailchimp, the launch of FedNow Payment Network, the ROI of IRS audits, and the UK's Making Tax Digital rollout. Remote work, the ESG startup Omnevue securing $3 million in funding, Xero's third price increase in two years and Intuit's response, and more round out the show!
Sponsors
LiveFlow - https://cloudaccountingpodcast.promo/liveflow
Accountests - https://cloudaccountingpodcast.promo/accountests
Client Hub - https://cloudaccountingpodcast.promo/clienthub

Chapters
(00:00) - PREVIEW: Lack of audits is hurting the accounting profession
(00:50) - Welcome to The Accounting Podcast
(02:22) - Listener mail: Audits are just checking a box
(06:39) - Listener mail: David asks for alternatives to tracking hours
(12:58) - Listener mail: Courtney asks if they should pursue a CPA or EA
(23:23) - Listener mail: William asks how new accountants should approach their starting salary at firms
(26:33) - Is QBO starting to integrate AI into Mailchimp?
(27:46) - FedNow is launching in July
(32:59) - The ROI of IRS audits
(42:32) - UK's Making Tax Digital rollout is struggling
(48:01) - Latest on remote work
(51:32) - ESG startup Omnevue secures $3 million in funding
(54:32) - Xero announces third price increase in two years and Intuit's response
(56:10) - Some final thoughts and where to reach David and Blake
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Show Notes
How much did Congress lose by defunding the IRS? Way more than we thought.
https://www.washingtonpost.com/opinions/interactive/2023/irs-enforcement-costs-congress-funding/

Elon Musk Calls Remote Work Morally Wrong 'Bullshit'
https://www.businessinsider.com/elon-musk-remote-work-morally-wrong-get-off-high-horse-2023-5

ESG accounting startup Omnevue secures $3.1 million in Seed funding
https://www.finextra.com/pressarticle/97225/esg-accounting-startup-omnevue-secures-31-million-in-seed-funding

Credit Unions Gear Up to Build Instant Payments Ecosystems as FedNow Looms
https://www.pymnts.com/credit-unions/2023/credit-unions-prepare-build-instant-payments-ecosystems-fednow-looms/

FedNow’s Rollout Will Spur ‘Major Shift’ for Businesses and Digital Wallets, Says Trustly
https://www.pymnts.com/news/faster-payments/2023/fednows-rollout-will-spur-major-shift-for-businesses-and-digital-wallets-says-trustly/

Fintech ForwardAI, An Aggregated Direct Data Access Provider To Accounting And ERP Platforms, Launches
https://www.crowdfundinsider.com/2023/06/208515-fintech-forwardai-an-aggregated-direct-data-access-provider-to-accounting-and-erp-platforms-launches-forwardly/

Rethinking the CPA 150-hour requirement: There must be a change
https://www.firmofthefuture.com/training-and-certification/rethinking-150-hour-requirement/

Government execution of MTD ‘out of control’ as costs spiral
https://www.accountancyage.com/2023/06/16/government-execution-of-mtd-out-of-control-as-costs-spiral/

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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1 hr 1 min
June 15, 2023Introducing "The Accounting Podcast" (why we changed our name)
Welcome to the new era of "The Accounting Podcast," formerly known as "The Cloud Accounting Podcast." Why the name change? This show was born out of a passion for technology's role in accounting, and over the last five years, as cloud-based tools became the norm, we broadened our scope to cover a wide range of topics. We're now delving into everything from PPP and the talent crisis to artificial intelligence, fraud, the business models of accounting firms, the IRS, politics, and much more. Our aim is to provide the best audio-based news and analysis in the accounting profession.
Celebrating an incredible milestone of 1 million downloads, we extend our heartfelt thanks to all our listeners and guests who have supported us over the years. As we step into this exciting new phase, we encourage you to engage with us - whether you're a longtime listener or just tuning in. Please send us your feedback, story ideas, or even a voicemail that we might play on the air at [email protected].
Remember, you can earn free CPE for listening with the Earmark app. Visit earmarkcpe.com for more information. We're thrilled to have you on this journey with us, and we look forward to bringing you quality content for many more years to come! Enjoy the show.

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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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Stitcher: http://cloudacctpod.link/Stitcher
Overcast: http://cloudacctpod.link/Overcast
YouTube: https://www.youtube.com/c/CloudAccountingPodcast
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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
3 min
June 14, 2023AICPA Engage Recap | Intuit launches GenOS | PwC scandal in Australia
We're back from the AICPA Engage conference sharing takeaways. Also, we're talking about all the latest generative AI developments in accounting, plus the recent PwC scandal in Australia.
Sponsors
LiveFlow - https://cloudaccountingpodcast.promo/liveflow
Zoho - https://cloudaccountingpodcast.promo/zoho
Helcim - https://cloudaccountingpodcast.promo/helcim

Chapters
(00:00) - PREVIEW: The PwC scandal
(00:29) - Blake and David are back from AICPA Engage
(01:51) - Blake shares his mom's tax return horror story
(09:56) - Thoughts on the AICPA's 100th Town Hall podcast episode
(15:53) - How can AICPA grow Engage to be an even bigger event
(19:44) - It was great to see everyone at AICPA Engage
(25:52) - Advanced Auto Parts misses 10-Q deadline because they couldn't staff position
(29:18) - Accounting firms are getting sued for improper ERC returns
(33:05) - Checking in on the live chat
(35:05) - Intuit's AI announcement
(41:07) - CPA.com announces their own generative AI initiative
(42:24) - Spreadsheet company Equals launches AI Assist
(43:03) - ChatGPT makes up court cases in federal briefing
(44:20) - Ikea buys warehouse management SaaS company
(45:19) - Google DeepMind can create its own algorithms
(47:44) - Crypto scams are 5x more costly than other cyber crimes
(48:30) - Let's talk about PwC Australia
(57:46) - Wrap up and where to reach Blake and David

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Show Notes
Google DeepMind’s game-playing AI just found another way to make code faster | MIT Technology Review
https://www.technologyreview.com/2023/06/07/1074184/google-deepmind-game-ai-alphadev-algorithm-code-faster/

Crypto scams five times as costly as other cybercrimes says study | Accounting Today
https://www.accountingtoday.com/news/crypto-scams-five-times-as-costly-as-other-cybercrimes-says-study

A Man Sued Avianca Airline. His Lawyer Used ChatGPT. - The New York Times
https://www.nytimes.com/2023/05/27/nyregion/avianca-airline-lawsuit-chatgpt.html?smid=nytcore-ios-share&referringSource=articleShare
Equals Launches the First Native AI Assistant for Spreadsheets
https://www.newswire.com/news/equals-launches-the-first-native-ai-assistant-for-spreadsheets-22045667

Intuit introduces proprietary large language models for fintech with GenOS
https://cointelegraph.com/news/intuit-introduces-proprietary-large-language-models-for-fintech-with-genos

Intuit (INTU) Introduces Generative AI Operating System
https://www.zacks.com/stock/news/2105195/intuit-intu-introduces-generative-ai-operating-system?cid=CS-ZC-FT-analyst_blog|company_news_tech_sector-2105195

Intuit Unveils Generative AI Operating System and Finance LLMs for TurboTax, Credit Karma, QuickBooks, and Mailchimp Developers
https://voicebot.ai/2023/06/07/intuit-unveils-generative-ai-operating-system-and-finance-llms-for-turbotax-credit-karma-quickbooks-and-mailchimp-developers/

Intuit Introduces Generative AI Operating System with Custom Trained Financial Large Language Models
https://financialpost.com/pmn/business-wire-news-releases-pmn/intuit-introduces-generative-ai-operating-system-with-custom-trained-financial-large-language-models

Intuit Launches GenOS: AI Operating System for Financial Data
https://medium.com/@cryptomarket06/intuit-launches-genos-ai-operating-system-for-financial-data-6bf8f161ef3a

IKEA Parent Ingka Acquires Supply Chain Software Solutions Provider Made4net
https://www.pymnts.com/news/retail/2023/ikea-parent-ingka-acquires-supply-chain-software-solutions-provider-made4net/

Landscaping Business Sues Accounting Firm Over Alleged COVID ...
https://www.law.com/dailyreportonline/2023/05/30/landscaping-business-sues-accounting-firm-over-alleged-covid-19-scheme/

Intuit Expert BrandVoice: How Intuit Is Leveraging AI To Catapult The Role Of Tax And Bookkeeping Experts To Deliver Confidence Inspiring Customer Experiences
https://www.forbes.com/sites/intuit-expert/2023/05/23/how-intuit-is-leveraging-ai-to-catapult-the-role-of-tax-and-bookkeeping-experts-to-deliver-confidence-inspiring-customer-experiences/

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 (...
1 hr
June 09, 2023Building the Next Superapp with David Barrett, CEO of Expensify
David is a lifelong programmer who founded Expensify in 2008 and built it into the most popular "pre-accounting" platform on the planet. Hear David's vision for the New Expensify, in which every payment is a conversation.
Meet Our Guest:
David Barrett, CEO of Expensify
https://www.linkedin.com/in/davidmbarrett/

Learn more about Expensify
http://expensify.com
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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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Stitcher: http://cloudacctpod.link/Stitcher
Overcast: http://cloudacctpod.link/Overcast
YouTube: https://www.youtube.com/c/CloudAccountingPodcast

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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
June 01, 2023IRS Loses $10 Billion In Debt Ceiling Deal & Proof ChatGPT Massively Increases Productivity
Why AICPA's 12-point plan won't solve the CPA crisis; Earnings reports from Intuit, Sage, and Xero; Ramp adds AI features to spend management platform; why grads are ditching jobs at the Big Four; 70% of Gen Z employees would switch jobs for better tech, and more!
Sponsors
LiveFlow - https://cloudaccountingpodcast.promo/liveflow
Tech Guru - https://cloudaccountingpodcast.promo/techguru
Client Hub - https://cloudaccountingpodcast.promo/clienthub

Chapters
(00:00) - IRS Loses $10 Billion In Debt Ceiling Deal & Proof ChatGPT Massively Increases Productivity
(00:35) - Welcome to the show
(04:35) - Potential debt-ceiling deal cuts IRS funding by $10 billion
(07:21) - Chat GPT made workers 37% faster at completing tasks
(11:27) - Accounting Today has ChatGPT retake the CPA exam
(16:19) - Number of people taking accountancy exams drops to lowest level in 17 years
(18:04) - WSJ article on the accounting industry’s low starting pay problem
(22:16) - The AICPA's 12-point plan to solve the accountant shortage
(32:31) - Thetab.com article on why grads are ditching jobs at Big Four firms
(35:31) - Update on the IRS's Free File tax system
(38:36) - Let's talk about the Intuit earnings call
(42:39) - Sage had their earnings call
(44:44) - Ramp announces "Ramp Intelligence"
(49:32) - Employee satisfaction reached an all-time high last year
(51:34) - Gen Z employees would change jobs for better tech
(57:35) - Wrap up and where to reach us. See you at AICPA Engage!

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Show Notes
New MIT Research Shows Spectacular Increase In White Collar Productivity From ChatGPT – JOSH BERSIN
https://joshbersin.com/2023/03/new-mit-research-shows-spectacular-increase-in-white-collar-productivity-from-chatgpt/

ChatGPT retakes CPA Exam as v4.0, passes | Accounting Today
https://www.accountingtoday.com/news/chatgpt-retakes-cpa-exam-as-v4-0-passes

AICPA Council approves CPA pipeline plan | Accounting Today
https://www.accountingtoday.com/news/aicpa-council-approves-cpa-pipeline-plan

70% of Gen Z Employees Say They Would Switch Jobs for Better Tech: Weekly Stat
https://www.cfo.com/human-capital/workforce-management/2023/05/gen-z-gen-x-baby-boomer-millennials-technology-work-environments-productivity-work-life-balance/

AICPA details plans to boost CPA pipeline | Accounting Today
https://www.accountingtoday.com/news/aicpa-details-plans-to-boost-cpa-pipeline

Overworked and underpaid: Why grads are ditching jobs at the Big Four
https://thetab.com/uk/2023/05/10/big-four-grad-scheme-whats-it-like-306634

The Future of AI in Finance is Here | Ramp Intelligence
https://ramp.com/intelligence

Numbers taking US accountancy exams drop to lowest level in 17 years | Financial Times
https://www.ft.com/content/e8dc2264-6b8d-4ed5-8bbd-e4a67e7d1e46

Avii Announces Significant Uplifts to Financial Modules In Avii ...
https://www.businesswire.com/news/home/20230508005420/en/Avii-Announces-Significant-Uplifts-to-Financial-Modules-In-Avii-WorkspaceTM-Platform-for-Accounting-Firms

Overworked and underpaid: Why grads are ditching jobs at the Big Four
https://thetab.com/uk/2023/05/10/big-four-grad-scheme-whats-it-like-306634

Sage Intact Launches Native AP Bill Automation to Cut Down on ...
https://www.digitaljournal.com/pr/news/pr-zen/sage-intact-launches-native-ap-bill-automation-to-cut-down-on-invoice-processing-time

Intuit Inc. (INTU) Q3 2023 Earnings Call Transcript
https://seekingalpha.com/article/4606883-intuit-inc-intu-q3-2023-earnings-call-transcript

Intuit (INTU) Reports Q3 Earnings: What Key Metrics Have to Say
https://www.zacks.com/stock/news/2098768/intuit-intu-reports-q3-earnings-what-key-metrics-have-to-say

ChatGPT retakes CPA Exam as v4.0, passes
https://www.accountingtoday.com/news/chatgpt-retakes-cpa-exam-as-v4-0-passes

Xero reports 28% year-over-year growth https://www.accountingtoday.com/news/xero-reports-28-year-over-year-growth

Pentagon Says Accounting Mistake Leaves U.S. With $3 Billion ...
https://www.wsj.com/articles/accounting-error-leaves-pentagon-with-3-billion-more-in-arms-for-ukraine-u-s-says-6d6f4576

AICPA details plans to boost the CPA pipeline
https://www.accountingtoday.com/news/aicpa-details-plans-to-boost-cpa-pipeline

AICPA releases expanded plan for addressing CPA pipeline ...
https://www.journalofaccountancy.com/news/2023/may/aicpa-releases-expanded-plan-addressing-cpa-pipeline-challenges.html

IRS to pilot free tax prep system in January
1 hr
May 30, 2023The AI Coming to Microsoft Products for Accountants with Ashley Francis, CPA
We're joined by Ashley the CPA (@seattle_tax) to talk about artificial intelligence coming soon to Microsoft products plus all the news you can use at the intersection of accounting and technology.
Sponsors
ShareFile - https://cloudaccountingpodcast.promo/sharefile
Tech Guru - https://cloudaccountingpodcast.promo/techguru
Helcim - https://cloudaccountingpodcast.promo/helcim

Chapters
(00:00) - ChatGPT is only the beginning
(00:58) - Introduction and welcome Ashley to the show
(02:47) - Microsoft Copilot updates
(08:43) - A new Microsoft Teams is coming
(10:46) - Report from Microsoft says meetings are the #1 productivity killer
(14:48) - A very small percentage of accountants are using these tools
(19:19) - How is consistency with AI?
(21:31) - Personalized training for these AI's
(30:55) - ChatGPT ads plugins
(34:27) - TurboTax is adding AI
(39:25) - Why should you learn AI now?
(44:09) - Tell us about your newsletter Ashley
(54:04) - Blake asks ChatGPT to book him a flight
(57:38) - Wrap up and where to reach us
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Show Notes
Microsoft Crunches Some Data to Find Out Teams is the Biggest Productivity Killer at Work
https://www.goingconcern.com/microsoft-crunches-some-data-to-find-out-teams-is-the-biggest-productivity-killer-at-work/

The No. 1 workplace distraction that kills productivity, according to Microsoft
https://www.cnbc.com/2023/05/09/the-no-1-workplace-distraction-that-kills-productivity-according-to-microsoft.html

Meet our Guest, Ashley Francis, CPA
LinkedIn: https://www.linkedin.com/in/ashley-francis-0115073/
Website: https://kitchentableautomations.substack.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
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
YouTube: https://www.youtube.com/c/CloudAccountingPodcast

Classifieds
Client Hub - https://clienthub.app/
Future Firm Accelerate - https://futurefirmaccelerate.com/cap
Uncat - https://www.uncat.com/
Nett Tracker - https://www.nett-tracker.com/
FinDaily - https://findaily.io/
Benchmark Growth - https://marketingforaccountingfirms.com/mastermind/
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
1 hr 1 min
May 25, 2023Every Payment Is A Conversation #ExpensiCon
We're back from ExpensiCon in Italy with thoughts on Expensify's future and the future of spend management; a report from Kristen Keats at Accounting Today's Firm Growth Forum conference; ChatGPT coming soon to a Wendy's drive-thru near you!
Sponsors
CCH Access - https://cloudaccountingpodcast.promo/axcess
SuiteFiles - https://cloudaccountingpodcast.promo/suitefiles
Client Hub - https://cloudaccountingpodcast.promo/clienthub

Chapters
(00:25) - Every Payment Is A Conversation
(00:50) - Blake and David are back from Italy
(04:40) - Let’s talk about ExpensiCon
(09:48) - The original Expensify and ExpensiCon
(12:15) - The new Expensify they're building
(17:51) - Expensify is adding great tech support
(23:18) - The future of Expensify
(28:17) - How much do we think this event cost and playing the long game
(37:48) - Some general observations on Italy
(44:10) - Kristen Keats checks in from Accounting Today's conference
(51:40) - Let's hear some listener reviews of CAP
(52:22) - Is AI encouraging or discouraging for accountants and jobs?
(56:51) - Wendy's Fresh AI
(59:19) - ChatGPT 4 passes CPA exam
(01:00:42) - Wrap up and where to reach us
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Show Notes
Expensify Launches Transactional Chat for Accountants - Business Wire
https://stocks.apple.com/ATL9AZYOSSKO_4jLMtB30pA
Wendy’s to Launch AI-Powered Drive-Thru Service
https://smallbiztrends.com/2023/05/ai-drive-thru-wendys-google-cloud.html

What if AI could rebuild the middle class? : Planet Money : NPR
https://www.npr.org/sections/money/2023/05/09/1174933574/what-if-ai-could-rebuild-the-middle-class

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

Classifieds
Client Hub - https://clienthub.app/
Future Firm Accelerate - https://futurefirmaccelerate.com/cap
Uncat - https://www.uncat.com/
Nett Tracker - https://www.nett-tracker.com/
FinDaily - https://findaily.io/
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
1 hr 4 min
May 16, 2023ChatGPT Was Set Up To Fail The CPA Exam
Accounting Today said ChatGPT failed the CPA Exam — here's why that's misleading; a WSJ reporter clones herself with AI and tricks her bank and family; TurboTax tops the TV ads for tax year 2022; Audit firms remove partners who fault clients' internal controls; 80 percent of BDO Alliance partners vote to eliminate or modify the 150-hour rule
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Chapters
(00:00) - ChatGPT Was Set Up To Fail The CPA Exam
(00:05) - Does the accounting profession give your life meaning?
(00:35) - Welcome to the show, David is on the road this week
(04:24) - Accounting Today says ChatGPT completely failed CPA exam
(07:23) - Blake ran some of his own tests with GPT-4 and takeaways people should get from this article
(12:58) - WSJ article on the potential of AI and fraud
(14:44) - Blake plays clips of Joanna's voice cloned compared to her actual voice
(18:03) - TechCrunch article on Intuit's AI journey
(23:10) - Accounting Today article on firms removing audit partners from engagements where they found internal control problems
(27:03) - Accounting Today: PCAOB turns up the heat on auditing firms
(30:42) - Three failed banks all had KPMG in common
(36:48) - Which brands spent the most money on ads around tax day 2023?
(38:17) - TurboTax starts sending out checks as part of "free free free" settlement
(39:45) - Listener email about the 150 hour rule and underpaid CPAs
(43:44) - BDO Alliance poll results on the 150 hour requirement
(47:16) - Blake buys MedEvac insurance for the first time
(48:16) - Some quick app news roundup
(53:40) - Wrap up and where to reach us
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Show Notes
KPMG pens deal with MindBridge to apply AI to digital audits | Accounting Today
https://www.accountingtoday.com/news/kpmg-pens-deal-with-mindbridge-to-apply-ai-to-digital-audits

We ran the CPA exam through ChatGPT and it failed miserably | Accounting Today
https://www.accountingtoday.com/news/we-ran-the-cpa-exam-through-chatgpt-and-it-failed-miserably

I Cloned Myself With AI. She Fooled My Bank and My Family.
https://www.wsj.com/articles/i-cloned-myself-with-ai-she-fooled-my-bank-and-my-family-356bd1a3

Audit firms remove partners who fault clients' internal controls | Accounting Today
https://www.accountingtoday.com/news/audit-firms-remove-partners-who-fault-clients-internal-controls

BDO Alliance poll of managing partners on 150-hour rule
https://twitter.com/BlakeTOliver/status/1654553693830914048

TurboTax customers to receive checks for $141M settlement
https://apnews.com/article/turbotax-inuit-settlement-checks-mail-0c01cf25aa34693163886d135f7a6560
Accounting automation developer Gappify scores $10m
https://fintech.global/2023/05/02/accounting-automation-developer-gappify-scores-10m/

Intuit’s shift
https://techcrunch.com/2023/04/27/intuit-ai-shift/

Hundreds Of Tax Prep Services Hit The Airwaves Before April https://www.insideradio.com/free/hundreds-of-tax-prep-services-hit-the-airwaves-before-april-18/article_b59beb46-e5a2-11ed-a08f-d7b730e240b8.html

We had ChatGPT take the CPA exam — and it failed
https://www.accountingtoday.com/news/we-ran-the-cpa-exam-through-chatgpt-and-it-failed-miserably

ChatGPT Just Failed This Accounting Exam
https://www.digitalinformationworld.com/2023/04/chatgpt-just-failed-this-accounting-exam.html

Accounting clerk created original art on billing statements to help a patient heal
https://www.cbsnews.com/video/accounting-clerk-created-original-art-on-billing-statements-to-help-a-patient-heal/
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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56 min
May 09, 2023AI You Can Use Today In Accounting with Giles Pearson
Matt Rissell of TSheets dead in apparent murder-suicide; a review of the AI features you can use right now in Client Hub, Canopy, Karbon, Financial Cents and... Sturppy?; This week's guest: Giles Pearson, CEO of Accountests
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Chapters
(00:00) - Have your AI contact my AI
(00:02) - Introduction and thoughts on the horrible news of Matt Rissell 
(00:11) - Wrap up and where to reach everyone 
(00:31) - David has used ChatGPT to create and organize his calendar appointments 
(05:59) - Some of the history of TSheets 
(12:17) - Practical application of Chat GPT and AI 
(18:28) - Giles was a partner at PwC 
(24:04) - Blake check on the live chat discussion
(29:01) - Let's look at Client Hub using their AI integration to help create tasks 
(32:11) - Lets see how Canopy can help you draft emails 
(34:53) - What Karbon has done with email 
(41:50) - Is Giles using AI for anything? 
(42:44) - Financial Sense integrates with ChatGPT 
(43:31) - Expensify's genius AI blog post 
(45:19) - Sturppy's AI virtual CFO
(52:46) - Congressional letter written about AI to create tax scams 
(54:35) - Where to learn more about Accountest and follow Giles
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Show Notes
Karbon AI | Karbon
https://karbonhq.com/feature/ai/

Founder of TSheets Dies in Self-Inflicted Shooting
https://www.cpapracticeadvisor.com/2023/05/04/founder-of-tsheets-dies-in-self-inflicted-shooting/79360/

Senators want IRS to stop AI-generated tax scams
https://www.accountingtoday.com/news/senators-want-irs-to-stop-chatgpt-generated-ai-tax-scams

“What is the Best Expense Management App?” according to ChatGPT?
https://blog.expensify.com/2023/05/02/what-is-the-best-expense-management-app-according-to-chatgpt/

TSheets founder Rissell dead after what police call attempted murder/suicide in Eagle home
https://boisedev.com/news/2023/05/04/matt-rissell-dead/
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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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
56 min
May 05, 2023Creating Compliant Accounting Records From Complex Crypto Transactions (from the Crypto With Accountants podcast)
In this episode, Pat White and Rafael Casas interview Mackenzie Patel, CEO of Hash Basis, a crypto-native accounting firm based in San Francisco. Mackenzie shares her accounting background and how she got into crypto accounting. They also discuss the challenges of revenue accounting in crypto and the emerging trend of specialized crypto accounting.
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Chapters
(00:00) - Preview: What does Hash Basis do?
(00:50) - Introduction and welcome Mackenzie to the show
(02:04) - A little bit of Mackenzie's background
(04:24) - Did you instantly love accounting?
(10:39) - What did you do after college?
(11:47) - What does revenue accounting look like in crypto?
(13:58) - Are you seeing more accountants who specialize in crypto accounting?
(18:32) - How did you get into crypto specifically?
(20:40) - Can you walk us through some fundamentals of crypto accounting?
(28:31) - What is streaming payroll and payments?
(31:53) - What resources do you do to stay up to date on crypto and crypto accounting?
(34:51) - FASB guidance has come out
(35:31) - What do you think about wrapped tokens now being counted as impaired?
(42:08) - Tell us about your new company, Hash Basis
(44:14) - Mackenzie will be speaking at EDAS
(46:13) - Thanks for listening and please subscribe for new episodes

Connect with our guest, Mackenzie Patel
linkedin.com/in/mackenziepatel/
twitter.com/maccbasis
Connect with Pat
linkedin.com/in/patwhite
twitter.com/patwhite
Connect with Rafael
linkedin.com/in/rafaelcasas
twitter.com/RafaelCasasBW
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This podcast is a production of the Earmark Media
48 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…