The Accounting Podcast

What's the Journal Entry for a Hush Money Payment?


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Blake and David delve into the accounting and bookkeeping aspects of Donald Trump's recent guilty verdict in New York. They discuss the charges related to falsifying business records and hush money payments and explore the potential implications for Trump's businesses and campaign. Their conversation also touches on the current state of AI in accounting, the retirement of AICPA president Barry Melancon, and the challenges facing the profession in attracting new talent.

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Chapters
  • (01:10) - Breaking Down Trump's Guilty Verdict
  • (02:56) - Analyzing the Charges
  • (04:52) - Legal Implications and Campaign Finance
  • (07:54) - Trump's Bookkeeping and Legal Strategies
  • (10:01) - Asking ChatGPT How This Entry Should Have Been Coded
  • (17:14) - Commercial Real Estate and Trump's Properties
  • (24:50) - Puzzle Accounting and AI Automation
  • (29:15) - Rose Financial's EASBY adds AI
  • (33:23) - Challenges in AI Categorization
  • (34:07) - Human Oversight in AI Accounting
  • (35:38) - Digits' AI Performance and Market Comparison
  • (39:10) - Live Listener Question: Career Path in Accounting
  • (42:28) - University of Scranton Brags About Number of Accounting Papers They've Published
  • (43:00) - AICPA's Future as President Barry Melancon Announces Retirement
  • (52:32) - App Review: Rose AI-Powered Spreadsheet
  • (54:34) - Watch Our TurboTax Business Assisted 2024 Review and Listen to the Best Metrics Podcast
  • (57:07) - Earn CPE For Listening To Our Podcast
  •  


    Show Notes

    "Who's the victim of Trump's Bookkeeping?" Washington Examiner

    https://www.washingtonexaminer.com/daily-memo/3014100/who-is-the-victim-of-trumps-bookkeeping/

     

    Trump May Owe $100 Million From Double-Dip Tax Breaks, Audit Shows

    https://www.nytimes.com/2024/05/11/us/trump-taxes-audit-chicago.html

     

    The Office-Market Meltdown Comes for Trump’s Prized Wall Street Building

    https://www.wsj.com/real-estate/commercial/the-office-market-meltdown-comes-for-trumps-prized-wall-street-building-31b3a667

     

    Profession Leader Humbly Requests You STFU About Long Hours, Busy Season, and Stress

    https://www.goingconcern.com/profession-leader-humbly-requests-you-stfu-about-long-hours-busy-season-and-stress/

     

    New AICPA chair: ‘We need to promote the cool work we do’

    https://www.journalofaccountancy.com/issues/2024/jun/new-aicpa-chair-we-need-to-promote-the-cool-work-we-do.html

     

    Rose Financial Solutions Sets Goal to Automate 85% of Finance and Accounting Activities by 2030

    https://www.prnewswire.com/news-releases/rose-financial-solutions-sets-goal-to-automate-85-of-finance-and-accounting-activities-by-2030-302145576.html

     

    TAP: TurboTax Business Assisted Review 2024 (for Tax Year 2023)

    https://www.youtube.com/watch?v=zaaMIV1lyns

     

    Check out Best Metrics here: 

    https://bestmetrics.transistor.fm/


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    Transcripts

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    The Accounting PodcastBy Blake Oliver & David Leary

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    4.4

    316 ratings


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