The Accounting Podcast
Business & Economics Podcasts
The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.
Location:
United States
Description:
The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.
Twitter:
@CloudAcctPod
Language:
English
Episodes
Finally! A Tax Bill That Adds Up
5/2/2024
Blake and David examine the latest tax legislation traveling through Congress, including a new bill requiring the IRS to provide detailed explanations for math errors on tax returns. They also discuss the IRS's new direct file program, the banning of non-compete agreements, and the coolest profession around (spoiler alert: it's not accounting). Lastly, they touch on the concerning data breach at BerryDunn and the AICPA's efforts to rebrand the CPA to attract more young people to the field.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Zoho - http://accountingpodcast.promo/zoho
Keeper - http://accountingpodcast.promo/keeper
Harbor Compliance - http://accountingpodcast.promo/harbor
Chapters
Show Notes
Accountant Charged With Embezzling $800,000 From Paving Firm in California - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2024/04/25/virginia-accountant-charged-with-embezzling-800000-from-richmond-paving-firm/104508/
Ryan Leads Charge Against Biden’s Ban on Noncompete Clauses - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2024/04/26/ryan-leads-charge-against-bidens-ban-on-noncompete-agreements/104537/
Move Over, TurboTax? IRS Considers Expanding Free Tax-Filing Program – WSJ
https://www.wsj.com/personal-finance/taxes/irs-considers-expanding-free-tax-filing-program-8f68cc9a?st=0akqqiu2v0gjb8v
Boeing Needs Another Accountant As CEO, Says Ryanair CEO – Avweb
https://www.avweb.com/aviation-news/boeing-needs-another-accountant-as-ceo-says-ryanair-ceo/
Ultra-Rich Should Pay More Taxes to Save Social Security, Poll Shows - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2024/04/25/ultra-rich-should-pay-more-taxes-to-save-social-security-poll-shows/104458/
FTC Bans Noncompete Agreements That Restrict Job Switching – WSJ
https://www.wsj.com/politics/policy/ftc-bans-noncompete-clauses-that-restrict-job-switching-984d2187?st=sxhwibcr49evqxc
Bronx tax preparer known as "the magician" arrested for $100 million tax fraud | ADN América
https://adnamerica.com/en/new-york/bronx-tax-preparer-known-magician-arrested-100-million-tax-fraud
With close calls mounting, the FAA will require more rest for air traffic controllers
https://www.npr.org/2024/04/22/1246349237/close-calls-faa-air-traffic-control-fatigue
New bill would force IRS to explain tax return errors | The Hill
https://thehill.com/business/4602429-new-bill-would-force-irs-to-explain-tax-return-errors/
The Accountancy Licensing Library: Your Ultimate Resource for CPA Licensure | NASBA
https://nasba.org/blog/2024/04/01/the-accountancy-licensing-library-your-ultimate-resource-for-cpa-licensure/
The cost of doing your taxes are up nearly 10% this year – Marketplace
https://www.marketplace.org/2024/03/15/tax-preaparation-costs-up-nearly-10-percent/
Sam Bankman-Fried agrees to help FTX investors in lawsuits against Tom Brady, Larry David
https://nypost.com/2024/04/22/business/sam-bankman-fried-agrees-to-help-ftx-investors-in-lawsuits-against-tom-brady-larry-david/
Intuit Hosting 'QuickBooks Live' Webinar
https://insightfulaccountant.com/in-the-news/people-and-business/intuit-hosting-quickbooks-live-webinar/
QuickBooks "Live Experts" May Not Be So Bad
https://insightfulaccountant.com/accounting-tech/general-ledger/quickbooks-live-experts-may-not-be-so-bad/
Millions more salaried workers will be eligible for overtime pay under final Biden administration rule
https://www.cnn.com/2024/04/23/politics/overtime-pay-salaried-workers-biden/index.html
Senators introduce bill to simplify IRS notices
https://www.accountingtoday.com/news/senators-introduce-bill-to-simplify-irs-notices
IRS Says It Saw ‘Strong Response’ From Direct File Pilot Users This Tax Season
https://www.cpapracticeadvisor.com/2024/04/26/irs-saw-strong-response-from-direct-file-pilot-users-this-tax-season/104545/
U.S. accounting firm Be...
Duración:01:12:30
Maximizing Your Accounting Firm's Value with Brannon Poe
4/26/2024
Blake Oliver sits down with Brannon Poe of Poe Group Advisors to discuss the differences between traditional and subscription-based virtual accounting firms. Brannon shares his expertise on firm valuation, revealing that factors like cash flow to owner and owner hours play a significant role in determining a firm's value. He also emphasizes the importance of pricing strategies, noting that implementing value pricing and subscription models can dramatically improve a firm's profitability and overall value. Throughout the conversation, Brannon provides valuable insights and real-world examples to help firm owners maximize their firm's value in preparation for a potential sale.
Meet Our Guest, Brannon Poe
LinkedIn: https://www.linkedin.com/company/poe-group-advisors/
Twitter: https://twitter.com/poegroupadvisor
Facebook: https://www.facebook.com/PoeGroupAdvisors/
Instagram: https://www.instagram.com/poegroup/
Learn more about Poe Group Advisors
Website: https://poegroupadvisors.com/
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
http://cloudacctpod.link/ApplePodcastshttps://www.youtube.com/@TheAccountingPodcasthttp://cloudacctpod.link/Spotifyhttp://cloudacctpod.link/podchaserhttp://cloudacctpod.link/Stitcherhttp://cloudacctpod.link/Overcast
Classifieds
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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:22:46
Google Blames Accounting Layoffs on AI
4/25/2024
Blake and David take a dive into Google's decision to offshore accounting jobs to Mexico and India, which Google’s CFO claims is necessary to free up resources to invest in AI. They also discuss the stagnation of CPA salaries despite a shortage of talent. The conversation touches on a variety of other topics, including the modernization of the IRS, the future of the CPA profession, and advice for young accountants looking to carve their own career paths in a rapidly changing industry.
Sponsors
Relay - http://accountingpodcast.promo/relay
Zoho - http://accountingpodcast.promo/zoho
Keeper - http://accountingpodcast.promo/keeper
Settle - http://accountingpodcast.promo/settle
Chapters
Show Notes
Google restructures finance team as part of AI shift, CFO tells employees in memo
https://www.cnbc.com/2024/04/17/google-restructures-finance-team-as-a-part-of-ai-shift-cfo-tells-employees-in-memo.html
Josh Youngblood, EA didn’t work over 40 hours per week in tax season
https://x.com/joshyoungblood/status/1779858374403747847?s=12
Skills-Based Hiring Can Shred the Paper Ceiling | BCG
https://www.bcg.com/capabilities/diversity-inclusion/expert-insights/skill-based-hiring-can-shred-paper-ceiling
The Office Market Is in Turmoil. So Why Are Rents More Expensive? – WSJ
https://www.wsj.com/real-estate/commercial/the-office-market-is-in-turmoil-so-why-are-rents-more-expensive-d096f961?st=9ieavh5j7ep3wcw
Florida Legislature Passes Bill Creating New Retired CPA Status | Florida Institute of CPAs
https://www.ficpa.org/publication/florida-legislature-passes-bill-creating-new-retired-cpa-status
Kyle J. Bauman, CPA on X: "“Unlimited PTO” “Only 2100 Hours”
https://twitter.com/kjb_cpa/status/1763595505928442248
62% of Americans Lack a College Degree. Can They Solve the Labor Shortage?
https://www.wsj.com/lifestyle/careers/employers-open-more-doors-to-workers-without-degrees-but-few-are-getting-in-732f1098
Senior Leaders Nearly Twice as Likely To Receive AI Resources as Junior Staff | CFO
https://www.cfo.com/news/senior-leaders-are-nearly-twice-as-likely-to-receive-ai-guidance/707230/
IRS didn't remove contractors' access to sensitive information | Accounting Today
https://www.accountingtoday.com/news/irs-didnt-remove-contractors-access-to-sensitive-information
Boston mulls commercial tax hike
https://www.accountingtoday.com/articles/boston-mulls-commercial-tax-hike-to-counter-office-market-slump
IRS Commissioner Delivers End Of Tax Filing Season Message Touting Improvements
https://www.forbes.com/sites/kellyphillipserb/2024/04/15/irs-commissioner-delivers-end-of-tax-filing-season-message-touting-improvements/
Florida Creates New Status for Retired CPAs in the State
https://www.cpapracticeadvisor.com/2024/04/15/florida-creates-new-status-for-retired-cpas-in-the-state/103983/
Treasury cash balance jumps most in 2 years as tax payments rise
https://www.accountingtoday.com/articles/treasury-cash-balance-jumps-most-in-2-years-as-tax-payments-rise
The rise of the remote accounting firm partner
https://www.accountingtoday.com/news/the-rise-of-the-remote-accounting-firm-partner
Werfel sees IRS budget request yielding $341B in extra revenue
https://www.cfodive.com/news/werfel-sees-irs-budget-request-yielding-341b-extra-revenue-tax-taxation-enforcement/713534/
Google restructures finance team as part of AI shift, CFO tells employees in memo
https://www.cnbc.com/2024/04/17/google-restructures-finance-team-as-a-part-of-ai-shift-cfo-tells-employees-in-memo.html
Despite moratorium, IRS gets 20,000 ERC claims weekly, Werfel says
https://www.journalofaccountancy.com/news/2024/apr/despite-moratorium-irs-gets-20000-erc-claims-weekly-werfel-says.html
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
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...
Duración:01:10:57
Remote Accountants Get Paid Less
4/19/2024
Blake and David delve into the effects of remote work on accountant salaries and the mental health challenges faced by auditors at Big Four firms. They inspect a recent study showing lower pay for hybrid workers compared to fully remote or in-office employees. They also contemplate the future of work organization inspired by Bill Anderson, CEO of Bayer, and discuss the potential impact of AI on the accounting profession, the accuracy of AI-related surveys, and the misrepresentation of AI capabilities in recent news headlines.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Uncat - http://accountingpodcast.promo/uncat
Earmark - https://earmark.app
Settle - http://accountingpodcast.promo/settle
Chapters
Show Notes
71% of Big 4 Auditors Worry About Mental Health | CFO
https://www.cfo.com/news/71-of-big-4-auditors-worry-about-mental-health/712063/
Will Getting Rid of Bosses Fix the Workplace? - The Journal. - WSJ Podcasts
https://www.wsj.com/podcasts/the-journal/will-getting-rid-of-bosses-fix-the-workplace/fc0d31d3-2d08-441e-abd8-d77b660fe258
59% of accountants use AI to save about 30 hours a week on tasks | Accounting Today
https://www.accountingtoday.com/news/59-of-accountants-use-ai-to-save-about-30-hours-a-week-on-tasks
Y Combinator wants to fund new enterprise resource planning (ERP) software"
https://www.instagram.com/reel/C3-zHmOIqbI/?igsh=dTMxMDBjNGg3a2p0
Ohtani translator charged with stealing millions for 19,000 bets | Accounting Today
https://www.accountingtoday.com/articles/ohtani-translator-charged-with-stealing-millions-for-19-000-bets
KPMG Fined Record $25 Million in Exam-Cheating Scandal – WSJ
https://www.wsj.com/articles/kpmg-fined-25-million-over-alleged-netherlands-exam-cheating-a4dcba2a?st=yl6xiqm8nh6gug8
Botkeeper Infinite replaces outsourcing with more AI to help firms automate | Accounting Today
https://www.accountingtoday.com/news/botkeeper-infinite-replaces-outsourcing-with-more-ai-to-help-firms-automate
More Companies Adopt 4-Day Work Week - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2024/03/27/more-companies-adopt-4-day-work-week/103199/
When Layoffs Happen, Remote Workers Are Hardest Hit - WSJ
https://www.wsj.com/lifestyle/careers/layoffs-remote-work-data-980ed59d?reflink=integratedwebview_share
Does Working from Home Boost Productivity Growth? | San Francisco Fed
https://www.frbsf.org/economic-research/publications/economic-letter/2024/january/does-working-from-home-boost-productivity-growth/
Trump Media's Accounting Firm Has Audit Deficiency History
https://finance.yahoo.com/news/trump-media-accounting-firm-history-150150627.html
Amazon's Just Walk Out Actually Uses 1,000 People in India
https://www.businessinsider.com/amazons-just-walk-out-actually-1-000-people-in-india-2024-4
PCAOB Wallops KPMG Netherlands With Record $25M Fine For Exam Cheating
https://www.cpapracticeadvisor.com/2024/04/10/pcaob-wallops-kpmg-in-the-netherlands-with-25-million-fine-for-exam-cheating/103803/
PCAOB crackdown shifting to focus on auditing firms
https://www.accountingtoday.com/news/pcaob-crackdown-shifting-to-focus-on-auditing-firms
PCAOB Proposal Would Require Audit Firms to Disclose a Variety of Metrics
https://www.cpapracticeadvisor.com/2024/04/10/pcaob-issues-proposal-requiring-audit-firms-to-disclose-variety-of-metrics/103758/
PCAOB proposals call for firms to disclose more about themselves
https://www.journalofaccountancy.com/news/2024/apr/pcaob-proposals-call-firms-to-disclose-more-about-themselves.html
Only 48% of accounting, consulting, legal, and private capital professionals have used AI tools at work despite near ...
Duración:01:10:25
Delivering Nuclear Value in Accounting
4/15/2024
Joe Woodard joins Blake and David to examine how accountants and bookkeepers can increase the value of their services in the eyes of their clients. Joe introduces the Cobb value curve, illustrating how differentiation and relative value impact pricing. He emphasizes the importance of offering unique, high-value services like controllership and financial planning to stand out from commoditized offerings and command premium prices.
Meet Our Guest, Joe Woodard
LinkedIn: https://www.linkedin.com/in/quickbooksadvisor
Twitter: https://twitter.com/joewoodard
Learn more about Woodard
Website: http://www.woodard.com
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
http://cloudacctpod.link/ApplePodcastshttps://www.youtube.com/@TheAccountingPodcasthttp://cloudacctpod.link/Spotifyhttp://cloudacctpod.link/podchaserhttp://cloudacctpod.link/Stitcherhttp://cloudacctpod.link/Overcast
Classifieds
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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:29:50
Get Rich Doing Bad Audits
4/11/2024
Blake and David dive into the concerning trend of small CPA firms conducting shoddy audits of large companies and SPACs, raking in big fees while facing minimal consequences for deficient work. They also discuss the latest accounting app funding news, the power of AI for crafting persuasive arguments, and the American Institute of CPAs' puzzling resistance to changes in CPA licensure requirements and touch on the growing importance of client accounting services for public accounting firms.
Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Uncat - http://accountingpodcast.promo/uncat
Earmark - https://earmark.app
Chapters
Show Notes
Fieldguide Raises $30 Million to Combat CPA Shortage With AI
https://www.pymnts.com/news/investment-tracker/2024/fieldguide-raises-30-million-to-combat-cpa-shortage-with-ai/
AI accounting startup raises $100M
https://www.accountingtoday.com/articles/ai-accounting-startup-fundguard-raises-100m-in-new-funds
On the Conversational Persuasiveness of Large Language Models: A Randomized Controlled Trial (PDF)
https://arxiv.org/pdf/2403.14380.pdf?utm_source=www.therundown.ai&utm_medium=newsletter&utm_campaign=nvidia-s-new-ai-chip-competitor
The year CAS took over
https://www.accountingtoday.com/opinion/the-year-cas-took-over-accounting
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
http://cloudacctpod.link/ApplePodcastshttps://www.youtube.com/@TheAccountingPodcasthttp://cloudacctpod.link/Spotifyhttp://cloudacctpod.link/podchaserhttp://cloudacctpod.link/Stitcherhttp://cloudacctpod.link/Overcast
Classifieds
Royalwise - https://royalwise.com/partner
Forwardly - https://www.forwardly.com/
Classifieds
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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:53:05
Pizza Parties Boost Morale
4/4/2024
Blake and David dig through the latest accounting news, including the effectiveness of pizza parties in boosting accounting firm morale, the record number of baby boomers reaching retirement age, and the impact on Social Security, as well as the massive amount of COVID-related fraud originating in South Florida. They also take a look at audit integrity issues, the long working hours in accounting, and some of the latest app headlines.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Relay - http://accountingpodcast.promo/relay
Bookkeep - http://accountingpodcast.promo/bookkeep
Chapters
Show Notes
FTX Founder Sam Bankman-Fried Sentenced to 25 Years https://www.wsj.com/finance/currencies/sam-bankman-fried-sentencing-ftx-fraud-2d92fce9?st=d45lmr6uc8gg6wc
Trump ‘cheats like a mafia accountant’ at golf, writer who played with him says - pennlive.com https://www.pennlive.com/news/2024/03/trump-cheats-like-a-mafia-accountant-at-golf-writer-who-played-with-him-says.html
Big 4 Transparency - Awards Season 🏆
https://big4transparency.beehiiv.com/p/big-4-transparency-awards-season?utm_source=big4transparency.beehiiv.com&utm_medium=newsletter&utm_campaign=big-4-transparency-awards-season
PCAOB bars Colorado firm Gries & Associates from doing audits | Accounting Today
https://www.accountingtoday.com/news/pcaob-bars-colorado-firm-from-doing-audits
San Francisco 49ers docked 2025 fifth-round draft pick for accounting error | FOX Sports
https://www.foxsports.com/stories/nfl/san-francisco-49ers-docked-2025-fifth-round-draft-pick-for-accounting-error
Grant Thornton gets major PE stake from New Mountain Capital | Accounting Today
https://www.accountingtoday.com/news/grant-thornton-gets-major-pe-stake
How Miami Became a Hub of PPP Fraud After Pandemic
https://www.cpapracticeadvisor.com/2024/03/26/how-miami-became-a-hub-of-ppp-fraud-after-pandemic/103156/
Audit Plan to Flag Illegal Acts Needs Do-Over, Critics Charge
https://news.bloombergtax.com/financial-accounting/audit-plan-to-flag-illegal-acts-needs-do-over-critics-charge
Blackrock larry fink annual letter 8484e68e
https://www.wsj.com/finance/investing/blackrock-larry-fink-annual-letter-8484e68e
Ahead of sentencing, SBF team argues for 5-6 years in jail because FTX customers will get money back
https://www.cnbc.com/2024/03/27/sbf-team-argues-for-5-6-year-sentence-ftx-customers-to-get-money-back.html
The Home Stretch: Strategies & insights for today’s tax professionals as their busy season concludes
https://www.thomsonreuters.com/en-us/posts/tax-and-accounting/home-stretch-tax-professionals/
Trump's social media company rises 16% in first day trading gains, but the stock could fall 95%, says an IPO expert
https://fortune.com/2024/03/26/trump-social-media-rises-trading-gains-fall-expert/
FTX founder Sam Bankman-Fried gets 25 years in prison
https://www.bankingdive.com/news/sam-bankman-fried-25-years-prison-fraud-conspiracy-ftx-crypto-sbf-kaplan-alameda/711601/
IRS Criminal Investigation Says COVID-Related Fraud Totaled Nearly $9 Billion
https://www.forbes.com/sites/kellyphillipserb/2024/03/28/irs-criminal-investigation-says-covid-related-fraud-totaled-nearly-9-billion/
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
...
Duración:00:59:58
Modern Pricing Models Drive Higher Valuations for Accounting Firms
4/3/2024
Blake and David meet with M&A advisor Charles Bedard about valuations for accounting firms looking to sell. Bedard explains that subscription-based "modern" firms command much higher multiples than traditional hourly billing firms. Bedard provides specific valuation ranges based on revenue and EBITDA multiples and highlights the importance of recurring revenue. He also offers actionable tips for firm owners to increase their value in preparation for an exit.
Meet Our Guest, Charles Bedard
LinkedIn: https://www.linkedin.com/in/charlesbedard/
Twitter: https://twitter.com/SolvingtheValue
Learn more about ERGO Comps, LLC
http://www.ergocomps.com/
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
http://cloudacctpod.link/ApplePodcastshttps://www.youtube.com/@TheAccountingPodcasthttp://cloudacctpod.link/Spotifyhttp://cloudacctpod.link/podchaserhttp://cloudacctpod.link/Stitcherhttp://cloudacctpod.link/Overcast
Classifieds
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? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:31:08
A Sizable Portion of Accountants See No Use Case for AI
3/29/2024
Blake and David look at the potential impact of AI on the accounting profession and discuss how AI tools like ChatGPT can boost productivity by automating tasks, improving communication, and assisting with problem-solving. They also examine the implications of these efficiency gains on the billable hour, predicting that firms will need to adapt their pricing strategies as a result. Finally, they review the results of a recent Accounting Today survey, which reveals accountants' perceptions and concerns about AI in the profession.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
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Chapters
Show Notes
JPMorgan Says Its AI Cashflow Tool Cut Human Work Almost 90%
https://www.entrepreneur.com/business-news/jpmorgan-says-its-ai-cashflow-tool-cut-human-work-almost-90/470682
Accounting's reluctant AI revolution
https://www.accountingtoday.com/research-report/accountings-reluctant-ai-revolution
Firms find it’s cool to be kind
https://www.journalofaccountancy.com/issues/2024/mar/firms-find-its-cool-to-be-kind.html
Bank Of America CashPro Forecasting
https://business.bofa.com/en-us/content/cashpro-forecasting.html
Americans Don’t Care as Much About Work. And It Isn’t Just Gen Z.
https://www.wsj.com/lifestyle/careers/americans-attitude-work-data-0c2e487c?st=zyx80zw1zyfu1jf
Gratitude is Better Than a Pay Raise for 55% of U.S. Workers, Survey Finds
https://www.cpapracticeadvisor.com/2024/02/29/gratitude-is-better-than-a-pay-raise-for-55-of-u-s-workers/102148/
12 ChatGPT Prompts For Leaders And Managers In 2024
https://www.forbes.com/sites/rachelwells/2024/01/23/12-chatgpt-prompts-for-leaders-and-managers-in-2024/
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:58:18
Do Audit Opinions Matter? A Discussion with Professor Ed Ketz
3/26/2024
Professor Ed Ketz of Penn State joins the show to discuss audits' current state and future. We delve into the relevance of audits and explore the value of unqualified opinions in making audits meaningful. The discussion also touches on the overstandardization of audit reports and how this can lead to investor misunderstandings. Professor Ketz brings a unique perspective, sparking a debate on whether the existence of the unqualified opinion creates value rather than the content within. The episode ends with a brainstorm on potential regulation improvements to improve audit quality and usefulness.
Meet Our Guest, Ed Ketz
Website: https://directory.smeal.psu.edu/k55
LinkedIn: https://www.linkedin.com/in/ed-ketz-7982421a7
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:23:06
Banks Will Fail & Listener Mail
3/21/2024
Blake and David start with a discussion on Federal Reserve Chairman Jerome Powell's testimony regarding the failure of small and mid-sized banks due to exposure to the commercial real estate sector. They also get into Minnesota's CPA licensure bill for 150-hour requirement alternatives and KPMG's audit findings on the Department of Education and the cost of the federal student loan program. Rounding out the episode, they answer listener questions and comments on topics including the psychological challenges of CPA firm employment, NASBA's lack of customer service, and the high fees for taking the CPA exam internationally.
Sponsors
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Chapters
Show Notes
Could CPAs telling their stories be the key to attracting Gen Zers to accounting? A PwC vice chair thinks so
https://fortune.com/2023/11/15/cpa-attracting-gen-z-accounting-pwc/
Senate File 1660, the MNCPA-backed bill to broaden the pathways to CPA licensure, advanced in the Minnesota Senate on Thursday.
https://www.mncpa.org/about/press/releases/pathways-cpa-senate-bill-hearing/
Powell: ‘There will be bank failures’ caused by commercial real estate losses
https://thehill.com/business/4516758-powell-there-will-be-bank-failures-caused-by-commercial-real-estate-losses/
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:01:04:39
Earmark Media Presents: Corporate Transparency Act Ruled Unconstitutional (Federal Tax Updates)
3/18/2024
Here's a preview of Blake's recent appearance on Federal Tax Updates, where he joined host Roger Harris to unpack some of the biggest tax stories making headlines, from a federal court ruling deeming a new business reporting law unconstitutional to the staggering estimates of tax evasion by the wealthy. To hear the complete discussion, visit Federal Tax Updates: https://share.transistor.fm/s/d8c45ed9
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Duración:00:17:02
The Race to Automate Audits
3/15/2024
Blake and David meet up with AJ Yawn, partner at Armanino LLP, about Armanino's new tool, Audit Ally, which streamlines and automates SOC 2 audits. They discuss the growing trend of tech companies entering the audit space and commoditizing services like SOC 2 audits, and explore how Audit Ally aims to help accounting firms compete on price and quality by utilizing AI and machine learning.
Meet Our Guest, AJ Yawn
LinkedIn: https://www.armanino.com/company/people/aj-yawn
Learn about about Audit Ally
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:22:17
IRS Agents Working From Home Can Watch H&R Block Reality TV Show
3/12/2024
We're celebrating surpassing 10,000 YouTube subscribers! Thank you! Blake and David look into H&R Block's new reality show about teaching people life skills like doing their taxes. They also talk about workflow automation challenges for accounting firms, how the IRS is contacting wealthy non-filers, and the Trump Organization CFO pleading guilty to perjury. They also break down the SEC's extensive new climate disclosure rules and the job opportunities this could create for accountants.
Sponsors
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Chapters
Show Notes
2024 Report: The State of Accounting Workflow Automation
https://financial-cents.com/resources/articles/2024-report-state-of-accounting-workflow-automation/
Gartner Survey Shows That a Third of Accountants Make Several Financial Errors Per Week due to Capacity Constraints
https://www.gartner.com/en/newsroom/press-releases/2024-02-21-gartner-survey-shows-that-a-third-of-accountants-make-several-error-per-weeo-due-to-capacity-constraints
The U.S. is short 340,000 accountants-just look at the wave of earnings report mistakes
https://fortune.com/2024/03/01/accounting-shortage-earnings-report-mistakes/
Intuit, H&R Block tax AIs critiqued on accuracy
https://www.accountingtoday.com/news/intuit-h-r-block-tax-ais-critiqued-on-accuracy-of-answers-many-inaccurate
SC accounting error gets renewed focus over $1.8B sitting in state bank account
https://www.southcarolinapublicradio.org/sc-news/2024-03-05/legis-treasurermoney
Ex-Trump Org CFO Pleads Guilty to Perjury in Fraud Case
https://www.cpapracticeadvisor.com/2024/03/05/ex-trump-org-cfo-pleads-guilty-to-perjury-in-fraud-case/102306/
H&R Block to Release Short Format Comedy Streaming Series, “Responsibility Island”
https://www.cpapracticeadvisor.com/2024/02/29/hr-block-to-release-short-format-comedy-streaming-series-responsibility-island/102172/
Federal court holds Corporate Transparency Act unconstitutional
https://www.journalofaccountancy.com/news/2024/mar/federal-court-holds-corporate-transparency-act-unconstitutional.html
Lyft earnings report error prompts shareholder lawsuit
https://finance.yahoo.com/news/lyft-earnings-report-error-prompts-150849490.html
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Duración:01:06:15
SPAC Attack: Why Withum Got Slapped with a $2M PCAOB Fine
3/8/2024
Blake and David meet with Chris Vanover, President of CPAClub, about the recent $2 million PCAOB fine against Withum for poor audit quality on many 2021 SPAC audits. They examine Withum's 500% increase in audits with minimal staff growth, leading to overworked teams and partners working 100+ hour weeks. They also debate whether the fines are large enough to change behavior or just a cost of doing business.
Meet Our Guest, Chris Vanover
LinkedIn: https://www.linkedin.com/in/chrisvcpa/
Learn more about CPAClub
Website: https://cpaclub.cpa/
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:15:30
Weighing The Risks and Rewards Of Surge Pricing Tax Returns
3/6/2024
Fast food chain Wendy's considers demand pricing – should your firm, too? We discuss the potential for surge pricing tax returns to smooth workload and raise revenue. We also dive into new AI-powered accounting productivity tools from Sage and Xero, Zoho's $5 per user practice management suite, and analyze the results of our listener survey.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Zoho - http://accountingpodcast.promo/zoho
Client Hub - http://accountingpodcast.promo/clienthub
Chapters
Show Notes
Just Ask Xero | Xero US
Introduction to QuickBooks Solopreneur (intuit.com)
Practice software features for businesses | Zoho practice
FTC alleges H&R Block deleted customer tax data, used deceptive advertising
IRS Direct File free tax system moves into public test phase
Intuit introduces QuickBooks Solopreneur for one-person businesses
Intuit Introduces QuickBooks Solopreneur, an Easy-to-Use Financial Tool Built for One-Person Businesses
H&R Block’s online tax prep tricked customers into paying more money, FTC claims
AI will 'change nature' of accounting, says Sage boss
Sage launches generative AI copilot assistant for SME accounting
H&R Block ‘Data Wiping’ and Upgrade Policies Harm Taxpayers, FTC Says
Expert Examines AI's Role in Accounting Education
Sage Intacct Unveils New Features to Streamline Operations and Boost Productivity
Zoho dives into practice management with Zoho Practice
Xero's AI Leap: Unveiling 'Just Ask Xero' to Revolutionize Small Business Accounting
How GenAI will shape the future for our customers
IRS reopens Direct File testing after pause
Study: ChatGPT Won’t Be Replacing Accounting Professors In the Near Future
ChatGPT in Education: Study Reveals Utility and Limits in Financial Accounting Learning
Xero wants to use AI to help your SMB solve all its accounting woes
Wendys surge pricing ai backlash internet
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Duración:01:11:04
Trust Me, I'm an AI: Aaron Harris on the Future of Accounting
3/1/2024
Aaron Harris joins Blake and David to discuss Sage's new AI offering, Sage Copilot, which brings generative intelligence into Sage Intacct to eliminate routine accounting work. They discuss specific use cases Copilot handles, like chasing people for approvals/documents, drafting emails, and answering ad hoc questions without running reports. Aaron also shares his perspective on AI’s impact on the accounting profession and why increased automation will make human review and trust even more essential.
Meet Our Guest, Aaron Harris, CTO, Sage
LinkedIn: https://www.linkedin.com/in/aaron-harris-7407b2/
Twitter: https://twitter.com/i/flow/login?redirect_after_login=%2FAaronRHarris
Learn more about Sage
http://www.sage.com
Listener Survey
Please take our listener survey: https://accounting.show/survey
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:24:21
Lyft's Big Financial Typo
2/29/2024
Blake and David discuss the Lyft financial typo that sent its stock price soaring. They also examine how AI-powered help desks and customer service are improving efficiency by 10-20%, and look at some alternatives to the pesky 150-hour rule. Other news includes the future of commercial real estate taxes, the use of AI tools to monitor employee communications, and how the IRS plans to collect over $500 billion more in owed taxes.
Sponsors
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Chapters
Show Notes
How Walmart, Delta, Chevron and Starbucks are using AI to monitor employee messages
Lyft's Extra Zero Puts Focus on Corporate Controls: Explained
$1,741 Is the Average Tax Refund So Far, IRS Says
IRS aims to close 'inequity gap' for unpaid taxes. How the agency targets top earners for audit
As A New Tax Filing Season Kicks Off, We Look at the IRS Efforts to Improve Customer Service and the Audits of Two Very Different Kinds of Taxpayers
Trump civil fraud case: Judge fines Trump $354 million, says frauds 'shock the conscience'
How WeWork became the largest tenant in Boston
In biggest office lease of the year, Deloitte plans move to Winthrop Center
Lyft CEO addresses major typo in earnings report
Listener Survey
Please take our listener survey: https://accounting.show/survey
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:59:35
Why Accountants Quit Public Accounting Firms
2/23/2024
Blake and David meet with Geoffrey Brown of the Illinois CPA Society to examine some key findings from ICPAS's recent retention report, including top reasons for turnover, where departing accountants are going, and ideas for improving work-life balance.
Meet Our Guest, Geoffrey Brown
LinkedIn: https://www.linkedin.com/in/geoffrey-brown-cae-9039484/
Twitter: https://twitter.com/IllinoisCPA
Facebook: https://www.facebook.com/ICPAS
Instagram: https://www.instagram.com/illinoiscpasociety/
Learn more about the Illinois CPA Society (ICPAS)
Website: https://www.icpas.org/
Listener Survey
Please take our listener survey: https://accounting.show/survey
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Duración:00:23:25
The Biggest Check You Can Write to The IRS
2/21/2024
Blake and David break down the IRS's $99 million paper-check limit, how states use tax credits to attract movie productions (sometimes unsuccessfully) and give their take on actor Kenan Thompson losing $1.5 million to fraud as a child. They also cover couples arguing over finances, AI answering tax questions in California, accounting rules hiding commercial real estate loan losses on bank balance sheets, and the lack of action from accounting standards boards to change these rules.
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Chapters
Show Notes
Warner Bros.' Disgusting Accounting Trick May Find an Opponent in the U.S. Government
IRS Seeks More Than $1 Billion From SVB for Taxes
IRS sues FDIC to get $1.45B in SVB back taxes
Mayweather’s $18 Million Check To The IRS Packs A Punch, But Is Under The $100 Million Weight Limit
California plans to use AI to answer your tax questions
Jeff Bezos will save over $600 million in taxes by moving to Miami
The Indicator from Planet Money : NPR
Mayweather’s $18 Million Check To The IRS Packs A Punch,
But Is Under The $100 Million Weight Limit
Jeff Bezos reaps Florida tax benefit with $4B Amazon
share sale
Young staff need to be in the office because of AI, says
PwC's UK boss | Accounting Today
Money is the Biggest Relationship Hurdle for 1 in 4
Couples, Survey Reveals - CPA Practice Advisor
Kenan Thompson Reveals a Crooked Accountant Stole $1.5
Million From Him During His Nickelodeon Days | Video
When accountants attack: why Netflix is cancelling Halle
Berry’s new sci-fi movie
Ben Affleck Reportedly Filming The Accountant 2 This Year
FASB Won’t Consider Changes in Securities Accounting
After Bank Failures - WSJ
New York Community Bank’s Commercial Real Estate Loan
Problem May Be Isolated, Experts Say
Banking Crisis Plays Out at America’s Smallest Lenders
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Duración:00:56:56