The Accounting Podcast

The Accounting Podcast

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

  • Accountant Shortage Causing Negative City Credit Scores (live from Padgett REtreat)

    Raising prices is a priority; NASBA extends time to complete CPA exam; Canopy now writes emails with AI; PwC to invest $1 billion in AI; staff not allowed to go to conferences

    Sponsors
    CCH Axcess - https://cloudaccountingpodcast.promo/axcess
    Zoho - https://cloudaccountingpodcast.promo/zoho
    Keeper - https://cloudaccountingpodcast.promo/keeper


    Chapters
    • (00:05) - Preview: Accounting is in a bad place
  • (02:58) - We launched the Federal Tax Updates Podcast with Padgett and welcome to our guests
  • (07:27) - Amanda, why was this tax season harder than last?
  • (09:13) - Tell us more about the Padgett REtreat
  • (10:41) - What are some ways to think about raising your prices?
  • (13:44) - The accounting shortage is affecting cities getting credit scores
  • (22:36) - NASBA extends the time to take the CPA exam to 30 months
  • (24:48) - AI and its future in accounting
  • (27:09) - Canopy integrates ChatGPT into their suite
  • (29:09) - PWC to invest $1 billion over the next 3 years in AI
  • (33:10) - How long do you think until smaller and midsize firms will be using AI
  • (35:14) - Lili Bank promises one-button accounting
  • (46:17) - Listener mail about staff not being given chances to go to conferences
  • (49:02) - Are accounting students set up only for the benefit of the Big 4 firms?
  • (53:16) - Wrap up and thanks for listening

  • Need CPE? 

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


    Show Notes

    ChatGPT Fails When It Comes to Accounting, Finds Major Study

    https://www.latestly.com/technology/chatgpt-fails-when-it-comes-to-accounting-finds-major-study-5078092.html

    KPMG Joins MindBridge in Global Launch of AI-Assisted Audit Tech
    https://news.bloombergtax.com/financial-accounting/kpmg-joins-mindbridge-in-global-launch-of-ai-assisted-audit-tech


    What Microsoft’s Dynamics GP Announcement Means for the User Community

    https://dynamicscommunities.com/ug/dynamics-gp-ug/what-microsofts-dynamics-gp-announcement-means-for-the-user-community/

     

    ChatGPT is still no match for humans when it comes to accounting             

    https://phys.org/news/2023-04-chatgpt-humans-accounting.html

     

    Lili Claims Super App Status With New Accounting Platform

    https://www.pymnts.com/smbs/2023/lili-claims-super-app-status-with-new-accounting-platform/

     

    Leading Financial Platform, Lili, Launches 'Lili Smart' to Integrate ...

    https://www.businesswire.com/news/home/20230418005500/en/Leading-Financial-Platform-Lili-Launches-%E2%80%98Lili-Smart%E2%80%99-to-Integrate-and-Consolidate-Accounting-Services-into-Small-Business-Banking

     

    KPMG signs AI deal to improve audit transparency            

    https://www.accountancydaily.co/kpmg-signs-ai-deal-improve-audit-transparency

     

    NASBA extends time to complete the CPA exam to 30 months

    https://www.accountingtoday.com/news/nasba-extends-time-to-complete-the-cpa-exam-to-30-months

     

    Accounting Bachelors Degree Requirements: What You Need to Know

    https://seaver.pepperdine.edu/blog/posts/accounting-bachelors-degree-requirements-what-you-need-to-know.htm

     

    ChatGPT: How AI will change law, finance, accounting and property ...       

    https://www.afr.com/work-and-careers/workplace/how-chatgpt-will-change-these-four-industries-20230328-p5cvzx

     

    Canopy Launches ChatGPT AI in Accounting Practice Management Software

    https://www.einnews.com/pr_news/629260399/canopy-launches-chatgpt-ai-in-accounting-practice-management-software

     

    Accountant shortage hurts city credit scores         

    https://fortune.com/2023/04/21/accountant-shortage-affecting-city-credit-scores/

     

    Technology News | ⚡Study Finds ChatGPT No Match for Human When It Comes to Accounting

    https://www.latestly.com/quickly/technology/study-finds-chatgpt-no-match-for-human-when-it-comes-to-accounting-5078092.html

     

    PwC Stakes $1 Billion on AI Investments in Tax, Consulting Work

    https://news.bloombergtax.com/financial-accounting/pwc-us-partners-with-microsoft-in-1-billion-ai-investment

    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

    ...
    54 min
  • What AI Will Automate In Accounting with Erica Goode, CPA

    FTX had 80,000 transactions in Ask My Accountant; the crazy cost accounting behind EY's failed breakup; using ChatGPT for financial statement analysis; what the tech world thinks AI will automate in accounting and more!

    Sponsors
    LiveFlow - https://cloudaccountingpodcast.promo/liveflow


    Chapters
    • (00:00) - CAP 329
  • (00:21) - PREVIEW: How ChatGPT saved Erica
  • (00:51) - Introduction
  • (07:30) - FTX had 80,000 transactions in Ask My Accountant
  • (11:46) - Blake plays a clip from the All-In podcast on AI accounting
  • (17:07) - ChatGPT vs real accountants and students on tests
  • (25:30) - Hector Garcia's example of using ChatGPT for analysing financial statements
  • (31:06) - Is Erica using ChatGPT at all in her firm?
  • (36:00) - EY breakup news
  • (41:55) - Donna's voicemail on her sons college tour and accounting majors
  • (48:00) - Deloitte kicks off program for high school students to earn accounting credits
  • (49:11) - Can AI help save education?
  • (52:30) - The IRS shows customer service improvements in 2023
  • (54:04) - Are accountants actually experiencing a better tax season?
  • (01:01:31) - Crazy MYOB commercial
  • (01:03:23) - Wrap up and where to reach everyone

  • Need CPE? 

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


    Show Notes

    Blake Oliver on Twitter: "My speaking session was selected for #Expensicon”

    https://twitter.com/BlakeTOliver/status/1649440639355097088

     

    SURVEY: Busy Season Looking Good - CPA Trendlines         

    https://cpatrendlines.com/2023/04/10/survey-busy-season-looking-good/

     

    EY Confronts Slowing Growth After Breakup Deal Fails - WSJ          

    https://www.wsj.com/articles/ey-confronts-slowing-growth-after-breakup-deal-fails-9442c85d

     

    Magic Workflow: AI-Powered Workflow and Process Generator   

    https://clienthub.app/blog/new-feature-magic-workflowai-powered-workflow-and-process-generator/

     

    Ernst & Young has axed its plan for a split of its auditing and consulting arms, marking a dramatic and costly retreat                

    https://www.wsj.com/articles/ernst-young-halts-breakup-plan-bd2e2fa0


    Is that the IRS with your refund? No, it's a ChatGPT scam

    https://www.politico.com/newsletters/weekly-tax/2023/04/17/is-that-the-irs-with-your-refund-no-its-a-chatgpt-scam-00092169

     

    Taylor Swift avoided $100 million FTX deal with securities question: lawyer https://www.businessinsider.com/taylor-swift-avoided-100-million-ftx-deal-with-securities-question-2023-4

     

    ChatGPT less than 50% accurate in accounting exams, study finds https://www.accountancyage.com/2023/04/21/chatgpt-less-than-50-accurate-in-accounting-exams-study-finds/

    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
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    • Overcast: http://cloudacctpod.link/Overcast
    • YouTube: https://www.youtube.com/c/CloudAccountingPodcast


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    Future Firm Accelerate - https://futurefirmaccelerate.com/cap
    Uncat - https://www.uncat.com/
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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

    1 hr 5 min
  • Accounting Fraud Indicator Signals Economic Trouble

    The M-Score is warning that the chance of fraud is the highest in over 40 years; Did KPMG fail to issue a critical audit matter for Silicon Valley Bank?; The spreadsheet apocalypse, revisited; Former startup founder charged by prosecutors for defrauding JPMorgan Chase; EY split fails; watch out for AI voice cloning scams; and more!

    Sponsors
    ShareFile - https://cloudaccountingpodcast.promo/sharefile
    Relay - https://cloudaccountingpodcast.promo/relay
    Client Hub - https://cloudaccountingpodcast.promo/clienthub


    Chapters
    • (00:00) - Preview: Incentives to allow fraudulent users
  • (00:52) - Introduction and welcome to the show
  • (03:51) - WSJ reports fraud indicator "M" score is up
  • (08:52) - Should KPMG have issued a critical audit matter for SVB?
  • (16:13) - EY no longer to split off auditing
  • (18:36) - JPMorgan defrauded for $175 million by startup founder
  • (22:05) - CPA in Bakersfield stole $355,000 from investors
  • (23:15) - Block accused of allowing fake accounts to boost their user growth numbers
  • (26:32) - Square is changing their refund policy to not refund processing fees
  • (27:47) - A few new Intuit announcements
  • (30:50) - Security risks with AI and voice cloning is happening in real life
  • (34:37) - Microsoft Loop
  • (39:18) - Nicholas asks for recs for CPAs who want to start their own small firm
  • (44:33) - Michael's email about barriers to CPA
  • (46:05) - Corey from Minnesota CPA Society shares message and website with resources
  • (47:10) - Will AI attract or detract more people to the accounting profession?
  • (55:33) - Blake co-wrote an article for CPA Practice Advisor
  • (01:00:14) - Wrap up and where to reach us

  • Need CPE? 

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


    Show Notes

    Intuit QuickBooks Launches Rest-of-World App Store - CPA Practice Advisor

    https://www.cpapracticeadvisor.com/2023/04/11/intuit-quickbooks-launches-rest-of-world-app-store/78582/

     

    EY’s leaders missed a brewing revolt at the firm’s biggest operation. Soon, their deal was scuttled

    https://www.wsj.com/articles/ey-breakup-plan-doomed-by-miscalculations-and-powerful-opponents-61b7e02d

     

    ‘I’ve got your daughter’: Scottsdale mom warns of close call with AI voice cloning scam

    https://www.azfamily.com/2023/04/10/ive-got-your-daughter-scottsdale-mom-warns-close-encounter-with-ai-voice-cloning-scam/

     

    Bond losses such as those at Silicon Valley Bank could have been raised as “critical audit matters”—a measure designed to help investors decode risks and uncertainties buried in financial statements

    https://www.wsj.com/articles/auditors-didnt-flag-risks-building-up-in-banks-6506585c

     

    Former Start-Up Founder Charged by Prosecutors for Defrauding JPMorgan Chase

    https://www.nytimes.com/2023/04/04/business/charlie-javice-jpmorgan-fraud.html

     

    The Spreadsheet Apocalypse, Revisited [Chart]

    https://twitter.com/johnnosta/status/1641586085640695810?s=12

     

    The M-Score is warning that the chance of fraud at major companies is the highest in over 40 years, writes Numbers columnist @JoshZumbrun

    https://www.wsj.com/articles/accounting-fraud-indicator-signals-coming-economic-trouble-506568a0

     

    New Microsoft Loop app is built for co-creation | Microsoft 365 Blog

    https://www.microsoft.com/en-us/microsoft-365/blog/2023/03/22/new-microsoft-loop-app-is-built-for-modern-co-creation/

     

    Shares of the payments company formerly known as Square fell more than 20% in early trading Thursday after a short seller questioned the company’s user numbers and accused it of predatory tactics

    https://www.wsj.com/articles/short-seller-hindenburg-says-jack-dorseys-payments-company-inflates-user-numbers-f3216466

     

    Startup CEO charged in $175 million fraud case        

    https://abcnews.go.com/Business/startup-ceo-charged-175-million-fraud-case/story?id=98363900

     

    Our Obsession with Hours Is Destroying the Accounting Profession

    https://www.cpapracticeadvisor.com/2023/04/12/our-obsession-with-hours-is-destroying-the-accounting-profession/78643/

     

    Accounting firm EY calls off 'Project Everest' to break up firm

    https://www.bbc.com/news/65247525

     

    Intuit QuickBooks Launches Rest-of-World App Store

    https://www.cpapracticeadvisor.com/2023/04/11/intuit-quickbooks-launches-rest-of-world-app-store/78582/

     

    Intuit Mailchimp Launches Email Content Generator

    https://www.destinationcrm.com/Articles/ReadArticle.aspx?ArticleID=158086

     

    Mailchimp’s new GPT-powered AI tool can write marketing emails

    https://www.fastcompany.com/90877547/mailchimp-gpt-powered-tool-can-write-marketing-emails


    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,

    1 hr 2 min
  • Top Five TikTok Tax Myths (Guest: Heidi Henderson)

    We’re joined by Heidi Henderson, EVP at Engineered Tax Services, for our weekly roundup of news at the intersection of accounting and technology. Topics include: How the IRS plans to spend $80 billion over the next 10 years; the top five TikTok tax myths; security issues with AI chatbots; CLA voices support for MNCPA’s 150-hour alternative; why revenue is up 20% in the top 100 firms, and more!

    Sponsors
    Zoho - https://cloudaccountingpodcast.promo/zoho
    LiveFlow - https://cloudaccountingpodcast.promo/liveflow
    Client Hub - https://cloudaccountingpodcast.promo/clienthub


    Chapters
    • (00:00) - CAP 327
  • (00:04) - PREVIEW: Breast implants are a tax write off?
  • (00:48) - Welcome Heidi Henderson to the show and some background
  • (06:16) - How did you get into tax credits?
  • (08:12) - Heidi's take on ERC mills
  • (11:36) - How will the IRS spend their $80 billion?
  • (13:39) - Breakdown on how the IRS plans to spend that money
  • (22:33) - Tax advice from TikTok
  • (31:50) - What is the accounting pro's role in advising a client on taxes
  • (34:58) - Accounting Today's April Fools Day post
  • (36:51) - Minnestoa CPA Society gets a big supporter in CLA on the 150 rule
  • (41:32) - Should we move the tax deadlines?
  • (45:49) - SBF student fund for improving humanity has run dry
  • (46:59) - Revenue for the top 100 firms was up almost 20%
  • (50:47) - What impact will AI make on accounting?
  • (57:04) - What are the potential risks of AI for accountants
  • (01:01:31) - Wrap up and where to reach everyone

  • Need CPE? 

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


    Show Notes

    The accounting pipeline: 'Above all, try something'

    https://www.accountingtoday.com/opinion/the-accounting-pipeline-above-all-try-something

     

    ChatGPT Took Our CPA Public Accounting Test – Accountests Australia

    https://www.au.accountests.com/blogs/news/chatgpt-took-our-cpa-public-accounting-test

     

    The IRS reveals how it will spend its $80B               

    https://www.accountingtoday.com/news/the-irs-reveals-how-it-will-spend-its-80b

     

    GPT Predicts Which Jobs the AI will replace

    https://www.reddit.com/r/Futurology/comments/128xl05/gpt_predicts_which_jobs_the_ai_will_replace/

     

    CLA backs changes in 150-hour CPA requirement              

    https://www.accountingtoday.com/news/cla-backs-changes-in-150-hour-cpa-requirement

     

    File your taxes in 10 minutes? TurboTax says it’s possible with AI-powered ‘express lanes’

    https://www.fastcompany.com/90875480/turbotax-irs-ai-file-taxes-phone-fast-lane

     

    Collapse of FTX deprives academics of grants, stokes fears of forced repayment

    https://www.reuters.com/technology/collapse-ftx-deprives-academics-grants-stokes-fears-forced-repayment-2023-04-06/

     

    The Problem With the IRS Vow to Avoid Stepping Up Audits of Earners Under $400,000

    https://www.wsj.com/articles/the-problem-with-the-irs-vow-to-avoid-stepping-up-audits-of-earners-under-400-000-6ffa5185

     

    Healthy Wealthy & Wise Accountants     https://healthywealthywise.show/5

     

    Three ways AI chatbots are a security disaster  | MIT Technology Review

    https://www.technologyreview.com/2023/04/03/1070893/three-ways-ai-chatbots-are-a-security-disaster/

     

    Accounting firm sets retirement age at 85 to avert staffing crisis | Accounting Today

    https://www.accountingtoday.com/opinion/accounting-firm-sets-retirement-age-at-85-to-avert-staffing-crisis

     

    CLA backs changes in 150-hour CPA requirement | Accounting Today

    https://www.accountingtoday.com/news/cla-backs-changes-in-150-hour-cpa-requirement

     

    The IRS reveals how it will spend its $80B | Accounting Today

    https://www.accountingtoday.com/news/the-irs-reveals-how-it-will-spend-its-80b

     

    ChatGPT Took Our CPA Public Accounting Test – Accountests Australia

    https://www.au.accountests.com/blogs/news/chatgpt-took-our-cpa-public-accounting-test


    Connect with Heidi Henderson
    Website: http://engineeredtaxservices.com
    LinkedIn: https://www.linkedin.com/in/heidihendersonets/

    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:

    1 hr 4 min
  • Accounting Salaries on the Rise with Adrienne Gonzalez of Going Concern

    Using ChatGPT to audit; accounting salaries on the rise; misclassification of expenses at heart of Trump indictment; church sued for forcing employees to tithe; here's what you can do to help the accountant shortage; a dating sim that does your taxes; half of U.S. workers earn money from a side gig; CEOs quietly backtracking on remote work; where all the SVB depositor money went

    Sponsors
    OnPay - https://cloudaccountingpodcast.promo/onpay
    Zoho - https://cloudaccountingpodcast.promo/zoho
    Keeper - https://cloudaccountingpodcast.promo/keeper


    Chapters
    • (00:00) - CAP 326
  • (00:04) - Preview: Where does hush money go on the GL?
  • (00:38) - Welcome Adrienne to the show
  • (02:55) - What impact will ChatGPT have on accounting?
  • (08:20) - Accountant salaries are rising
  • (09:35) - Blake checks in on the live stream chat
  • (12:24) - CFO Dive study with Open AI on productivity boost and some of tech concerns with AI in general
  • (16:12) - WSJ article on jobs most exposed to ChatGPT
  • (19:19) - Adrienne saved 150 hours automating a task for Going Concern
  • (22:23) - Intuit survey of accountants
  • (26:06) - The Trump indictment
  • (30:20) - Kirkland Chruch forced employees to donate 10% of salary to chruch
  • (33:12) - Back to AGI talk and will it take our jobs?
  • (44:12) - Going Concern article on dating sim game for taxes
  • (49:15) - Automating your job and having a side gig
  • (50:53) - CEO's are starting to backtrack on remote work
  • (54:39) - Follow up with Silicon Valley Bank
  • (58:25) - Relay is now the official banking partner of Profit First
  • (01:00:13) - Wrap up and where to reach everyone

  • Need CPE? 

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

    Show Notes

    A dating sim that does your taxes: https://taxheaven3000.com/

    The Accountant Shortage is So Bad Anime Waifu Girlfriends Are Taking Up Tax Prep Now - Going Concern               

    https://www.goingconcern.com/anime-dating-sim-tax-prep-game/

    Accountants are using technology to level up their businesses     

    https://quickbooks.intuit.com/r/small-business-data/accountant-tech-survey-2023/

     

    Where Did Startups Put Their SVB Cash?  At JP Morgan Chase      

    https://www.saastr.com/where-did-startups-put-their-svb-cash-at/

     

    Want to Do Your Part to Help the Accountant Shortage? Here’s What You Can Do Right Now

    https://www.goingconcern.com/want-to-do-your-part-to-help-the-accountant-shortage-heres-what-you-can-do-right-now/

     

    Meta, Microsoft, and Disney are reversing their bets on the metaverse

    https://finance.yahoo.com/news/meta-microsoft-disney-reversing-bets-123000778.html

     

    Math Teachers Stage a Calculated Protest

    https://www.washingtonpost.com/archive/local/1986/04/04/math-teachers-stage-a-calculated-protest/c003ddaf-b86f-4f2b-92ca-08533f3a5896/


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


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    Nett Tracker - https://www.nett-tracker.com/

     
    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
  • Form 4868: Extension of Time To File U.S. Individual Income Tax Return (from the Federal Tax Updates podcast)

    The Federal Tax Updates podcast is a recent addition to the Earmark Media network of accounting-focused podcasts. In this episode, Roger and Annie discuss the most recent IRS updates and recommendations for tax preparers dealing with the surge of inaccurate ERC claims. They also provide some detailed insights into filing extensions for clients.

    Want to hear more Federal Tax Updates episodes? Listen and subscribe at federaltaxupdates.com

    Follow the Federal Tax Updates podcast on Social Media:
    twitter.com/FedTaxPod
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    52 min
  • SC Comptroller Steps Down After $3.5 Billion Error (Guest: Terrell Turner)

    This Week's Guest: Terrell Turner, CPA; 85% of MNCPA members working in public accounting support an alternative to 150 hours; The Silicon Valley Bank Balance Sheet Time Bomb "Sitting In Plain Sight"; Senator Warren complains to PCAOB about sham crypto "audits"; JPMorgan Chase’s nickel bags turn out to be full of stones; PwC introduces AI chatbot for 4,000 lawyers to speed up work; Xero kills WorkflowMax

    Sponsors
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    Chapters
    • (00:00) - Cloud Accounting Podcast Episode 325
  • (00:04) - Preview: Accountants aren't eating their own dog food
  • (00:48) - Introduction and welcome Terrell Turner to the show
  • (03:09) - What does Terrell's practice do and who do they serve?
  • (04:49) - South Carolina's comptroller resigns due to $3.5 billion error
  • (09:35) - Blake and David talked to Linda about alternative CPA pathway
  • (13:42) - Blog Post on NASBA website on CPA pipeline problem
  • (17:16) - Are salaries the bigger issue?
  • (19:29) - Clip from the Financial Executive podcast
  • (25:20) - A little bit about Sillicon Valley Bank
  • (39:42) - The issue with non-profits finding auditors and throwing accountants under the bus
  • (43:05) - Elizabeth Warren writes letter to PCAOB about scam crypto "audits"
  • (44:35) - JPMorgan Chase's nickel bags turn out to be full of stones
  • (46:36) - OpenAI is connecting ChatGPT to the internet
  • (57:14) - Xero kills WorkflowMax
  • (58:57) - PwC introduces AI chatbot for 4,000 lawyers to speed up work
  • (01:05:26) - Wrap up and where to reach Terrell, Blake, & David

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


    Show Notes
    Texas Close to Allowing CPA Candidates to Test with 120 Credits

    https://www.cpapracticeadvisor.com/2023/03/22/texas-close-to-allowing-cpa-candidates-to-test-with-120-credits/78123/

     

    South Carolina's Top Accountant to Step Down After $3.5 Billion Error

    https://www.cpapracticeadvisor.com/2023/03/23/south-carolinas-top-accountant-to-resign-after-3-5-billion-error/78209/

     

    MNCPA to Educators: "We Do Not Need New CPAs Who Have Additional College Credits; We Need More CPAs, Period."               

    https://www.goingconcern.com/mncpa-to-educators-we-do-not-need-new-cpas-who-have-additional-college-credits-we-need-more-cpas-period/

     

    Banks and investors are reviving a push for changes to securities accounting after the SVB collapse

    https://www.wsj.com/articles/banks-investors-revive-push-for-changes-to-securities-accounting-after-svb-collapse-99caa9ce

     

    PwC introduces AI chatbot for 4,000 lawyers to speed up work
    https://gulfbusiness.com/pwc-introduces-ai-chatbot-for-4000-lawyers/

     

    The More Things Change, the More They Stay the Same: Addressing the CPA Pipeline Crisis | NASBA

    https://nasba.org/blog/2023/03/14/addressing-the-cpa-pipeline-crisis/

     

    QuickBooks leans into AI in 2023 | Accounting Today

    https://www.accountingtoday.com/news/quickbooks-plans-to-go-all-in-on-ai-in-2023

     

    SVB's balance-sheet time bomb was 'sitting in plain sight' 

    https://www.accountingtoday.com/articles/svbs-balance-sheet-time-bomb-was-sitting-in-plain-sight-short-seller-says


    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 7 min
  • Broadening Pathways to CPA with MNCPA President Linda Wedul

    Join us for an exclusive interview with Linda Wedul from the MNCPA! We'll dive deep into the pressing issues surrounding the 150-hour rule, the talent shortage facing CPA firms in Minnesota, and how MNCPA is exploring alternative pathways to licensure. Tune in as we explore innovative solutions for keeping the CPA career path competitive and bridging the gap for aspiring professionals.

    Broadening Pathways to the CPA Credential: https://www.mncpa.org/involvement/legislative/broadening-pathways-to-cpa/

    Meet Our Guest, Linda Wedul
    LinkedIn: https://www.linkedin.com/in/lindawedul/

    Learn more about the Minnesota Society of CPAs
    http://mncpa.org

    Need CPE? 

    Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.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


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

    39 min
  • Heat Is On SVB Auditors & Hot Takes From A Tax Lawyer (Guest: Matt Foreman)

    Matt Foreman explains what tax lawyers do; KPMG in the spotlight for signing off on SVB's books; digital bank apps benefit from SVB collapse; CLA launches paid high school accounting internships; Zoho's 10 most-installed CRM extensions of 2022; accounting talent shortage may cause city credit ratings to drop

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    • (00:00) - CAP 324
  • (00:04) - Preview: The job of a lawyer in setting up businesses
  • (00:36) - Introduction and welcome Matt to the show
  • (04:05) - What does a tax lawyer do?
  • (08:55) - What do you do for me as a client?
  • (12:00) - What is the biggest mistake you see businesses make?
  • (16:49) - The IRS is underfunded
  • (21:42) - How often and when are clients meeting with Matt?
  • (24:02) - How will the IRS ever agree how to spend their $80 billion
  • (28:32) - Digital bank apps have benefited from SVB collapse
  • (32:59) - Auditors under scrutiny for SVB collapse
  • (36:29) - Blake's take on why auditors aren't the ones to blame
  • (42:24) - Ron Baker's audit insurance idea
  • (46:01) - CLA launches paid high school accounting internships
  • (47:16) - Zoho lists their 10 most installed CRM extensions of 2022
  • (49:40) - Accounting talent shortage can cause city credit ratings to drop
  • (55:59) - Wrap up and how to reach everyone

  • Show Notes

    10 most-installed Zoho CRM extensions of 2022 

    https://www.zoho.com/blog/marketplace/10-most-installed-Zoho-CRM-extensions-of-2022.html

    SVB and Signature Bank Passed KPMG Audits Days Before Collapses
    https://www.pymnts.com/digital-first-banking/2023/svb-and-signature-bank-passed-kpmg-audits-days-before-collapses/

    CLA Launches Paid High School Accounting Internships in 15 ...

    https://www.cpapracticeadvisor.com/2023/03/14/cla-launches-paid-high-school-accounting-internships-in-15-locations/77932/

    For Banks, Guaranteeing 100% of Everyone’s Money Threatens Moral Hazard 

    https://www.pymnts.com/news/regulation/2023/for-banks-guaranteeing-100percent-of-everyones-money-threatens-moral-hazard/

    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
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    • Spotify: http://cloudacctpod.link/Spotify
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    The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

    57 min
  • Two Big AI Developments for Accountants

    We're talking about the release of GPT-4 and Microsoft's Copilot built into Office 365. Both will have a huge impact on accountants in the near future. Tune in to learn how!

    Show Notes: 

    Introducing Microsoft 365 Copilot | Microsoft 365 Blog
    https://www.microsoft.com/en-us/microsoft-365/blog/2023/03/16/introducing-microsoft-365-copilot-a-whole-new-way-to-work/

    GPT-4 Developer Livestream - YouTube
    https://www.youtube.com/watch?v=outcGtbnMuQ

    OpenAI releases GPT-4, artificial intelligence that can 'see' and do taxes
    https://www.nbcnews.com/tech/tech-news/openai-gpt-4-rcna74916


    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

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    • YouTube: https://www.youtube.com/c/CloudAccountingPodcast


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    45 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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