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The Accounting Podcast
Blake Oliver & David Leary
The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast.
- 1 hour 3 minutesNew IRS Commissioner Was An ERTC Peddler
Blake and David take a look at several significant developments in the accounting world, including Trump's controversial IRS Commissioner nomination of former Congressman Billy Long. They also dig into updates on the Macy's accounting scandal and explore Square's potential move into accounting software with their new head of Product Accounting Solutions hire. They also share insights from the AICPA's 2024 CAS benchmark survey showing significant growth in client accounting services practices and much more!
Sponsors
RoboDebit - http://accountingpodcast.promo/robodebit
Relay - http://accountingpodcast.promo/relay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
TaxBandits - http://accountingpodcast.promo/taxbandits
Chapters- (00:28) - Welcome to The Accounting Podcast
- (00:40) - Digital CPA Conference Highlights
- (01:17) - CAS Practices on the Rise
- (02:22) - IRS Commissioner Nominee: Billy Long
- (03:42) - Employee Retention Tax Credit Controversy
- (14:45) - Macy's Financial Misstatements
- (28:30) - Intuit Assist: A Closer Look
- (29:48) - The Evolution of Bill Scanning with AI
- (31:25) - AI's Impact on Accounting Tools
- (33:06) - AI and Tax Returns: The Future of Automation
- (34:54) - Relay: The Ultimate Small Business Bank
- (36:19) - Supermicro's Accounting Scandal
- (40:48) - Square's Move into Accounting Solutions
- (57:21) - The Rise of Client Advisory Services
- (01:00:55) - Closing Remarks and Future Insights
Show Notes
He Promised Huge Tax Refunds. Now Trump Wants Him to Lead the I.R.S.
https://www.nytimes.com/2024/12/06/us/politics/billy-long-trump-irs-tax-credit.html
Brainsky Unleashed (Instagram) – Billy Long – December 6, 2024
https://www.instagram.com/brainskyunleashed/reel/DDQS_GjRn4P/
Macy’s employee who hid $151 million in delivery expenses was trying to mask initial mistake, sources say
https://www.cnbc.com/2024/12/11/macys-m-earnings-q3-2024.html
Macy’s Probe Found Employee Acted Alone in $151 Million Accounting Scandal
https://www.wsj.com/business/retail/macys-m-q3-earnings-report-2024-c7363662
LinkedIn – Andy Schwartz – Profit Labs Update – December 6, 2024
Amazon integrates QuickBooks for sellers
https://www.accountingtoday.com/news/amazon-integrates-intuit-quickbooks
AICPA and CPA.com Benchmark Survey: CAS Practices Report 17% Growth
Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet 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
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
Forwardly - https://www.forwardly.com/
Client Hub - https://clienthub.app/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
14 December 2024, 3:00 am - 1 hour 7 minutesBOI Blocked | 57% of Firms Raising Prices | Creepy EY Bot
Congratulations to Blake for making Accounting Today's Top 100 Most Influential People list! Today, Blake and David dig into several significant developments in accounting, including a federal court's decision to block BOI reporting nationwide. They also examine which of the 57% of accounting firms plan to raise fees in 2025 and take a look at the AICPA's Experience Learn and Earn (ELE) program. There's also talk about new PCAOB reporting requirements for audit firms and the recent acquisition of Dext by Iris Software Group.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Zoho - http://accountingpodcast.promo/zoho
SmartVault - http://accountingpodcast.promo/smartvault
Chapters- (00:31) - Celebrating Achievements and Social Media Impact
- (03:16) - Key News Stories: Price Increases and Regulatory Changes
- (04:17) - BOI Reporting Requirement Blocked
- (14:21) - Raising Prices in Accounting Firms
- (17:39) - Experience, Learn, and Earn Program
- (22:26) - AICPA and Overtime Pay Ruling
- (30:12) - PCAOB's New Reporting Requirements
- (34:48) - Debating the Future of Auditing
- (35:50) - Impact of AI on Auditing
- (37:21) - Evaluating PCAOB's Effectiveness
- (38:32) - PCAOB Sanctions and Penalties
- (45:00) - Macy's Financial Controversy
- (48:31) - EY's AI Interview Bot
- (53:29) - AI's Impact on Productivity
- (58:14) - Dext Acquisition by Iris
- (01:01:58) - Closing Remarks and Future Topics
Show Notes
Accounting Today - The 2024 Top 100 Most Influential People https://arizent.brightspotcdn.com/c3/0f/2649ee17493eab95634bbc91f5f7/top-100-most-influential-people-updated.pdf
Federal Court Enjoins Enforcement of the CTA Nationwide; Reporting Companies “Need Not Comply” with January 1 Deadline
Survey Says 57% of Firms Are Raising Prices Next Year
https://cpatrendlines.com/2024/11/14/survey-says-57-of-firms-are-raising-prices-next-year/
Experience, Learn, and Earn
https://experiencelearnearn.org/Expanded Access Now Available for AICPA-NASBA ELE Program
https://nasba.org/blog/2024/11/15/expanded-access-aicpa-nasba-ele-program/
Texas Judge Tosses Biden Overtime Expansion for Millions
Follow up to the "AICPA is illegally hiding salary info on job postings". After several emails, I convinced them to comply with the law
PCAOB Adopts Auditor Performance Metrics, Increased Firm Reporting Rules https://tax.thomsonreuters.com/news/pcaob-adopts-auditor-performance-metrics-increased-firm-reporting-rules
Critics see chance to close down US audit regulator under Trump
https://www.ft.com/content/e9a7247f-84fd-4df7-8163-6518954470e9
Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings
https://apnews.com/article/macys-accounting-quarter-b1cb0927d9b6a58ee4396838df7973c9
KPMG Survey: AI Adoption Across US Finance Functions Reaches Highest Levels, with ROI Exceeding Expectations
IRIS Software Group Announces Intent to Acquire Dext Software Ltd.
https://dext.com/us/iris-announces-intent-to-acquire-dext
Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet 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
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
6 December 2024, 4:00 pm - 1 hour 7 minutesMacy's Thanksgiving Accounting Mystery
Blake and David examine the mysteries and motives surrounding the recent Macy's accounting scandal, where a single employee allegedly concealed $132-154 million through improper accrual entries. They also examine Trump's proposed 25% tariff plan on imports from Mexico and Canada (plus an additional 10% on China), discussing its potential impact on American businesses and consumers.
Sponsors
Zoho - http://accountingpodcast.promo/zoho
Suralink - http://accountingpodcast.promo/suralink
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Chapters- (00:46) - Macy's Accounting Error: Breaking News
- (01:40) - Understanding the Impact of Macy's Error
- (02:46) - The Mystery Behind Macy's Accounting Error
- (02:53) - Join the Live Discussion
- (03:42) - Upcoming Topics and Teasers
- (05:15) - Thanking Our Sponsors
- (06:42) - Diving Deeper into Macy's Accounting Mystery
- (19:29) - Exploring the Fraud Triangle
- (27:54) - Auditors and Materiality Standards
- (32:04) - Auditors' Role in Detecting Fraud
- (33:25) - Impact of Fraud on Macy's Stock
- (33:47) - Challenges in Auditing Practices
- (34:08) - Internal Controls and Their Limitations
- (38:53) - Expense Fraud: A Growing Concern
- (44:01) - AI in Auditing: The Future of Fraud Detection
- (52:28) - Trump Tariffs and Their Economic Impact
- (01:03:13) - Thanksgiving Reflections and Closing Remarks
Show Notes
Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings
https://apnews.com/article/macys-accounting-quarter-b1cb0927d9b6a58ee4396838df7973c9
Macy’s says accountant hid as much as $154M in expenses
UPS to Pay $45 Million SEC Penalty Over Improper Valuation
https://finance.yahoo.com/news/ups-hit-45-million-penalty-144424675.html
Strippers, Christmas gifts and an RV: Workers push it with company cards
Ex-Jaguars employee who stole $22 million from team files lawsuit against FanDuel
https://www.nytimes.com/athletic/5809925/2024/10/01/jaguars-lawsuit-fanduel-amit-patel/
Trump's Truth Social tariffs pledge is a teachable moment for America
What does Trump’s latest tariff plan mean for the U.S.?
https://www.pbs.org/newshour/politics/what-does-trumps-latest-tariff-plan-mean-for-the-u-s
Walmart CFO Says They Don't Want To Raise Prices, But 'Prices Will Go Up For Consumers' Due To Upcoming Tariffs
https://finance.yahoo.com/news/walmart-cfo-says-dont-want-161640110.html
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet 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
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
Forwardly - https://www.forwardly.com/
Client Hub - https://clienthub.app/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
2 December 2024, 9:00 pm - 1 hour 5 minutesDOGE Goes After TurboTax & Remote Work
Blake and David discuss Trump's proposed Department of Government Efficiency (DOGE) and its potential impact on tax filing and federal remote work policies. They analyze the Pentagon's seventh consecutive failed audit and examine Intuit's ambitious plans to expand its enterprise offerings. The duo also explores a groundbreaking study showing ChatGPT-4 outperforming human doctors in medical diagnoses, highlighting AI's growing capabilities in professional decision-making.
Sponsors
Relay - http://accountingpodcast.promo/relay
Suralink - http://accountingpodcast.promo/suralink
SmartVault - http://accountingpodcast.promo/smartvault
Artiffex - http://accountingpodcast.promo/artiffex
Chapters- (00:00) - Welcome to the Accounting Podcast
- (01:52) - DOGE's Impact on H&R Block and TurboTax Stocks
- (02:57) - IRS Free File Program
- (04:49) - Intuit's Response to DOGE Initiative
- (10:43) - Remote Work for Federal Employees
- (16:25) - Pentagon's Audit Failures
- (22:36) - AI Outperforms Doctors in Diagnosing Illnesses
- (32:12) - Boosting Productivity with ChatGPT
- (36:09) - Salesforce's AI Irony
- (38:15) - Anthropic's AI in Action
- (45:34) - Intuit's AI Strategy and TurboTax
- (48:36) - Intuit Enterprise Suite and Market Expansion
- (55:27) - Closing Remarks and Future Topics
Show Notes
Coming soon!
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet 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
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
Client Hub - https://clienthub.app/
Forwardly - https://www.forwardly.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? 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
25 November 2024, 10:30 pm - 1 hour 13 minutesTrump's Tax Plans, IRS PPS Fraud, & PCAOB Drama
Blake and David dive into the economic implications of Trump's election victory, including proposed tariffs that could significantly impact businesses and inflation. They explore potential tax changes under a new Trump administration, from corporate rate reductions to the elimination of the SALT cap. They also examines an alarming $47 million IRS fraud scheme targeting tax practitioners and debate the future of Bitcoin as speculation grows about a potential national Bitcoin reserve.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Suralink - http://accountingpodcast.promo/suralink
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Artiffex - http://accountingpodcast.promo/artiffex
Chapters- (00:00) - Welcome to The Accounting Podcast
- (03:05) - Avalara Crush Conference Insights
- (07:48) - AI and the Future of Tax Compliance
- (13:21) - Trump's Economic Impact
- (17:26) - Tariffs and Global Trade
- (25:40) - Tax Proposals and Implications
- (36:53) - Bitcoin's Meteoric Rise and Market Speculations
- (47:43) - AI Adoption in the Workforce
- (49:53) - IRS PPS Fraud: A Deep Dive
- (01:00:49) - PCAOB Drama and Audit Deficiencies
- (01:06:49) - BOI Reporting and AICPA's Response
- (01:10:33) - Closing Remarks and CPE Information
Show Notes
How Trump Won the Economy-is-Everything Election
How Will Trump’s Universal and China Tariffs Impact the Economy?
https://taxfoundation.org/blog/trump-tariffs-impact-economy/
Which Workers Are Embracing AI?
https://www.chicagobooth.edu/review/which-workers-are-embracing-ai
Actions Were Not Taken to Timely Strengthen Practitioner Priority Service Telephone Line Authentication Controls
https://www.tigta.gov/sites/default/files/reports/2024-10/2025ier001fr.pdf
Fraudsters get $47 million from practitioner priority service line scheme
Freddie Freeman on World Series MVP, Ohtani Media Mayhem and His Surprising Backup Career | Ep 109
https://www.youtube.com/watch?v=ZimDH_hW7LU
PCAOB board member complains of persecution by senators
https://www.accountingtoday.com/news/pcaob-board-member-complains-of-persecution-by-senators
AICPA to Congress: Delay needed in BOI reporting deadline
https://www.thetaxadviser.com/news/2024/nov/aicpa-to-congress-delay-needed-in-boi-reporting-deadline
New Development Re: BOI Reporting – 44 Congressmen Seek to Delay FinCEN Beneficial Ownership Reporting
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet 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
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
Coefficient - http://accountingpodcast.promo/coefficientexpo
Forwardly - https://www.forwardly.com/
Client Hub - https://clienthub.app/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
16 November 2024, 9:15 pm - 1 hour 16 minutesSasan Apologizes to Accountants at Intuit Connect
Blake and David examine Sasan Goodarzi's apology and lukewarm reception regarding the recent controversial TurboTax ad campaign. They also take a look at Intuit's new Enterprise Suite product, which aims to compete with NetSuite and Sage Intacct by offering multi-entity accounting capabilities at a lower price point. Moving on, there's talk of Anthropic's new Claude computing capability, EY's resignation as Super Micro Computer's auditor, and Google's declining search market share in the face of AI competition.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Relay - http://accountingpodcast.promo/relay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Chapters- (00:41) - Intuit Connect Recap
- (01:37) - Intuit CEO's Apology
- (09:32) - Intuit's Market Strategy
- (15:45) - Intuit Enterprise Suite Demo
- (30:00) - QuickBooks New Features
- (36:32) - Upcoming AI Webinar Announcement
- (37:06) - Feedback on AI Presentation
- (37:47) - The Future of Tax Preparation with AI
- (39:34) - AI in Action: Cloud Computer Use Demo
- (49:46) - Fraud in Political Campaigns
- (52:53) - Opportunities in Small Town Tax and Bookkeeping
- (57:08) - EY Resigns as Super Micro Auditor
- (01:07:39) - Conclusion and Upcoming Events
- (01:07:56) - Google's Ad Revenue Threatened by AI
Show Notes
EY resigns as Super Micro auditor, causes stock to fall 33%Intuit Connect 2024: Sasan Goodarzi on AI & the Future of Accounting
https://www.youtube.com/watch?v=1xzKztkuhRY
Introducing computer use, a new Claude 3.5 Sonnet, and Claude 3.5 Haiku
https://www.anthropic.com/news/3-5-models-and-computer-use
'All hell has broken loose': Inside Elon Musk's high-stakes pro-Trump door-knocking effort
BDO must face AmTrust investors' fraud case after US appeals court backtracks
Google’s Grip on Search Slips as TikTok and AI Startup Mount Challenge
https://www.wsj.com/tech/online-ad-market-google-tiktok-9599d7e8
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet 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
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
Coefficient - http://accountingpodcast.promo/coefficientexpo
Client Hub - https://clienthub.app/
Forwardly - https://www.forwardly.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? 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
8 November 2024, 7:30 pm - 1 hour 8 minutesWhat Will Replace 150-Hour Rule? | EY CPAs Fired For Taking Too Much CPE
In this episode, Amber Setter returns to discuss the AICPA and NASBA's newly proposed competency-based pathway to CPA licensure, offering a 150-hour-rule alternative. They argue that the complexity of the plan might create more bureaucratic barriers rather than simplifying the process. There's also talk on the challenges facing the profession, including stagnant salaries and declining CPA numbers. Rounding out the show, they examine a recent story about EY firing employees for attending multiple online CPE courses at once.
Sponsors
LiveFlow - http://accountingpodcast.promo/liveflow
Zoho - http://accountingpodcast.promo/zoho
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Tabs - http://accountingpodcast.promo/tabs
Chapters- (02:30) - Blake's Session on Automation Toolkit
- (05:11) - Sponsor Acknowledgements
- (05:34) - Discussion on AICPA and NASBA Competency Pathway
- (06:35) - Amber Setter's Insights on the Proposed Pathway
- (10:47) - Concerns and Practical Challenges
- (16:21) - Potential Impact on CPA Candidates
- (30:29) - Live Stream Viewer Comments and Questions
- (36:02) - Debating CPA Education Requirements
- (36:29) - Personal Journey to Becoming a CPA
- (37:18) - State Differences in CPA Experience Requirements
- (39:34) - NASBA's Influence on State Boards
- (41:47) - Challenges in CPA Firm Hiring Practices
- (42:38) - Value of Prior Work Experience
- (42:55) - Different CPA Licenses Across States
- (45:06) - Master's Degree in Accounting: Is It Worth It?
- (47:41) - Experience vs. Education in CPA Training
- (52:35) - The Appeal of Starting Your Own Firm
- (01:00:15) - EY's Controversial CPE Policy
- (01:03:09) - Innovative CPE Solutions with Earmark
- (01:03:55) - Future of CPE and Mental Health Initiatives
- (01:09:42) - Conclusion and Final Thoughts
Show Notes
Exposure draft: Proposed “CPA Competency-Based Experience Pathway”
Educational Requirements for CPA Licensure
https://www.dca.ca.gov/cba/applicants/ed-requirements.shtml
EY Got Rid of Staff Who Took Multiple CPE Courses at the Same Time
Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet 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
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
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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
30 October 2024, 10:30 pm - 1 hour 32 minutesWhy Trump Will Win & AICPA Has a New President
Blake and David examine why Trump may win in 2024, discussing immigration's economic impact on working-class wages and how this could affect voting patterns, particularly in border states like Arizona. They also look at the AICPA's selection of Mark Koziel as its new president, questioning whether the organization truly advocates for average CPAs. Moving on, they discuss Intuit's controversial TurboTax marketing campaign and consider why Berkshire Hathaway is reducing its BOA stake due to concerns about unrealized losses in the bank's bond portfolio.
Sponsors
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Zoho - http://accountingpodcast.promo/zoho
Practice Protect - http://accountingpodcast.promo/protect
Chapters- (00:33) - Introduction and Grand Canyon Adventure
- (02:29) - Padgett Business Model and Amanda's Role
- (04:19) - Sponsors and Election Involvement
- (06:00) - Why Trump Will Win: Analyzing the Numbers
- (06:29) - AICPA Leadership and Industry News
- (10:29) - Earmark's Growth and Future Plans
- (24:11) - Immigration Debate and Economic Impact
- (43:30) - Economic Factors in Trump's Election Loss
- (44:21) - Ad Break: Zoho Practice Management
- (46:07) - Impact of Abortion and Immigration on Elections
- (47:42) - Offshoring and Wage Suppression in Accounting
- (49:49) - AICPA's Role in Offshoring and Technology
- (54:05) - Introducing Mark Koziel: New AICPA President
- (57:48) - Ad Break: Practice Protect Cybersecurity
- (01:00:04) - Debate on Abortion and Political Affiliations
- (01:04:50) - Banking Crisis and Economic Policies
- (01:07:02) - Intuit's Controversial Ad Campaign
- (01:15:19) - Warren Buffett's Stance on Bank of America
- (01:25:00) - Conclusion and Upcoming Events
Show Notes
Do immigrants really take jobs and lower wages?
https://www.npr.org/2024/06/28/1197959366/immigration-economics-mariel-boatlift
Escalating Cyber Threats Demand Stronger Global Defense and Cooperation
American productivity still leads the world
https://www.economist.com/special-report/2024/10/14/american-productivity-still-leads-the-world
Public sector talent shortage: Unique challenges require unique solutions
https://www.journalofaccountancy.com/news/2024/oct/public-sector-accounting-challenges.html
Intuit asked us to delete part of this Decoder episode
Buffett's Berkshire Trims BofA Stake Closer to 10%
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Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet 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.
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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
25 October 2024, 9:00 pm - 1 hour 17 minutesNATP Breaks Up with Intuit & Fat Joe vs. BDO
Blake and David touch on several hot topics in the accounting world, including the fallout from Intuit's controversial TurboTax ad, and the National Association of Tax Preparers cutting ties with the company. They also examine Trump Jr.'s threats against Deloitte, KPMG's support for alternative pathways to CPA licensure, and rapper Fat Joe's recent experiences with BDO.
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LiveFlow - http://accountingpodcast.promo/liveflow
Ignition - http://accountingpodcast.promo/ignition
Mercury - http://accountingpodcast.promo/mercury
Chapters- (01:16) - Controversial Intuit Ad Campaign
- (03:29) - Blake's Grand Canyon Adventure
- (04:49) - Intuit's Industry Fallout
- (09:58) - Tax Preparation Fee Calculator
- (14:34) - NATP's AI Transition
- (22:01) - Trump Jr. vs. Deloitte
- (24:17) - Trump's Tax Policy for Expats
- (28:08) - Popular Tax Proposals
- (34:42) - App News: Numeric's Big Funding Round
- (35:46) - Understanding Flux Analysis
- (37:11) - AI in Accounting: Real-World Applications
- (40:38) - Tax Season Tips and Client Management
- (43:27) - CPA Licensure and Industry Challenges
- (53:33) - Auditor Misconduct and SEC Rulings
- (57:54) - Celebrity Financial Scandals: Fat Joe's Case
- (01:13:59) - Closing Remarks and Upcoming Adventures
Show Notes
TurboTax ‘Breakup’ Ad Draws Ire From Tax Pro Org
https://tax.thomsonreuters.com/news/turbotax-breakup-ad-draws-ire-from-tax-pro-org/
Deloitte takes fire from Trump-Vance allies over leaked employee messages
https://thehill.com/business/4919910-deloitte-employee-trump-criticism/
Trump supports ending double taxation on Americans living abroad: ‘Let’s put America First’
KPMG Supports Alternative CPA Paths to Address Accountant Shortage
SEC Drops Auditor Misconduct Cases After In-House Judges Ruling
Fat Joe Suing Accountants Over Fraud Activity
https://www.bet.com/article/dh3bcc/fat-joe-suing-accountants-over-fraud-activity
Numeric grabs $28M Series A to automate accounting using AI
https://techcrunch.com/2024/10/10/numeric-grabs-28m-series-a-for-automating-accounting-with-ai/
Ex-Tingo Auditor Aided, Concealed ‘Massive Fraud,’ SEC Claims
https://news.bloombergtax.com/financial-accounting/ex-tingo-auditor-aided-concealed-massive-fraud-sec-claims
Fat Joe On Getting Robbed By Accountants, Using The N-Word, BET Hip Hop Awards + More
https://www.youtube.com/watch?v=xL3RV6SHY4ENeed CPE?
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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
17 October 2024, 10:00 pm - 1 hour 4 minutesOpenAI's Insane Entity Structure
Blake and David look into OpenAI's complex entity structure and potential conversion from nonprofit to for-profit, highlighting the significant financial implications. They also discuss the challenges facing FreshBooks amid recent layoffs and shifting market dynamics and then explore the journey of Vuori's CEO Joe Kudla, emphasizing how his accounting background contributed to the company's success. Wrapping things up, we’ve got listener questions about the value of CPA licenses and growing advisory services in accounting firms.
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Chapters- (02:15) - OpenAI's Nonprofit to For-Profit Dilemma
- (05:44) - Understanding OpenAI's Complex Structure
- (13:28) - The Financial Implications of OpenAI's Transition
- (27:34) - Vuori's CEO: From Accounting to Fashion
- (34:44) - The Power of Pricing: Vuori's Success Story
- (35:09) - The Importance of Accounting in Entrepreneurship
- (36:48) - FreshBooks' Struggles and Market Position
- (39:42) - The Future of FreshBooks and Industry Trends
- (46:02) - Listener Mail: CPA Value and Audit Challenges
- (53:34) - Exploring Advisory Services and Technology Solutions
- (59:22) - Closing Thoughts and Community Engagement
Show Notes
OpenAI closes $6.6 billion funding haul with investment from Microsoft and Nvidia
How Vuori’s Joe Kudla went from accountant to fashion industry success
https://www.goldmansachs.com/insights/goldman-sachs-talks/joe-kudla
FreshBooks lays off 140
https://www.accountingtoday.com/news/freshbooks-lays-off-140-staff-cites-challenging-18-months
SEC Charges Olayinka Oyebola and His Accounting Firm With Aiding and Abetting Massive Fraud
https://www.sec.gov/newsroom/press-releases/2024-157
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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
10 October 2024, 8:30 pm - 1 hour 14 minutesIntuit Attacks Tax Pros & IRS Can't Measure Audit Rate
Blake and David discuss a controversial TurboTax ad campaign encouraging people to "break up" with their tax professionals, analyze survey data on AI adoption in accounting firms, and critically examine proposed changes to CPA licensure requirements. They also explore NASBA's influence on the profession end debate the merits of automatic mobility for CPAs across states.
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OnPay - http://accountingpodcast.promo/onpay
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Chapters- (01:32) - Intuit's Controversial NFL Commercial
- (03:52) - TurboTax's Pricing Strategy
- (06:32) - Intuit's Market Strategy and Tax Pro Reactions
- (12:55) - IRS Audit Rates and Challenges
- (20:25) - EY India Tragedy and Work Culture
- (27:18) - AI in Accounting: Adoption and Applications
- (34:02) - Introduction to Perplexity
- (37:09) - Empowering Your Team with AI
- (39:11) - Challenges in CPA Firms
- (42:30) - WorkflowCon 2024 Announcement
- (44:15) - Changes to CPA Licensure
- (49:06) - Critique of NASBA and AICPA
- (57:02) - The Future of CPA Mobility
- (01:10:44) - Conclusion and Call to Action
Show Notes
TurboTax 2024 Beat Your Price Commercial "Tax Break-Up" (Official TV Ad :30)
https://www.youtube.com/watch?v=GW7rfwO6_is
Intuit Hosts Investor Day, Reaffirms First-Quarter and Fiscal 2025 Guidance
The State of AI in Accounting Report 2024
https://karbonhq.com/resources/state-of-ai-accounting-report-2024/
AICPA, NASBA propose a new pathway to CPA licensure
https://www.journalofaccountancy.com/news/2024/sep/cpa-competency-based-licensure-pathway.html
AICPA and NASBA Propose Changes to the Uniform Accountancy Act
The Hazards of Redefining Mobility
https://nasba.org/blog/2024/09/19/the-hazards-of-redefining-mobility/
How Accounting Firms Can Overcome the Profit Plateau
https://www.accountingtoday.com/opinion/how-accounting-firms-can-overcome-the-profit-plateau
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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
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
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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
4 October 2024, 4:30 pm - More Episodes? Get the App
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