The Accounting Podcast
The Accounting Podcast

The Accounting Podcast

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.
Trump's Tax Plans, IRS PPS Fraud, & PCAOB Drama
16 November 2024
Trump'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

https://www.livemint.com/politics/news/how-trump-won-the-economy-is-everything-election-11730973573508.html

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

https://www.journalofaccountancy.com/news/2024/nov/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

https://gpwcpas.com/new-development-re-boi-reporting-44-congressmen-seek-to-delay-fincen-beneficial-ownership-reporting/

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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


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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


Sasan Apologizes to Accountants at Intuit Connect
08 November 2024
Sasan 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%

https://www.cnbc.com/2024/10/30/super-micro-auditor-resigns-after-raising-concerns-months-earlier.html

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

https://www.nbcnews.com/politics/2024-election/elon-musks-high-stakes-trump-door-knocking-effort-america-pac-rcna176255

BDO must face AmTrust investors' fraud case after US appeals court backtracks

https://www.reuters.com/legal/government/column-bdo-must-face-amtrust-investors-fraud-case-after-us-appeals-court-2024-11-04/

Google’s Grip on Search Slips as TikTok and AI Startup Mount Challenge

https://www.wsj.com/tech/online-ad-market-google-tiktok-9599d7e8


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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

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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


What Will Replace 150-Hour Rule? | EY CPAs Fired For Taking Too Much CPE
30 October 2024
What 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”

https://www.aicpa-cima.com/certifications/download/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

https://www.cpapracticeadvisor.com/2024/10/23/ey-got-rid-of-staff-who-took-multiple-web-training-course-at-once/112128/


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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

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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


Why Trump Will Win & AICPA Has a New President
25 October 2024
Why 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
LiveFlow - http://accountingpodcast.promo/liveflow
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

https://blogs.microsoft.com/on-the-issues/2024/10/15/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

https://www.theverge.com/2024/10/21/24273820/intuit-ceo-sasan-goodarzi-turbotax-irs-quickbooks-ai-software-decoder-interview

Buffett's Berkshire Trims BofA Stake Closer to 10%

https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-10-08-2024/card/buffett-s-berkshire-trims-bofa-stake-closer-to-10--EQHbm5iLN4LTvbgNW29W


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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

    Apple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/Overcast


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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


NATP Breaks Up with Intuit & Fat Joe vs. BDO
17 October 2024
NATP 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.

Sponsors
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’

https://nypost.com/2024/10/14/business/former-president-donald-trump-supports-ending-double-taxation-on-americans-living-abroad/

KPMG Supports Alternative CPA Paths to Address Accountant Shortage

https://tax.thomsonreuters.com/news/kpmg-supports-alternative-cpa-paths-to-address-accountant-shortage

SEC Drops Auditor Misconduct Cases After In-House Judges Ruling

https://news.bloombergtax.com/financial-accounting/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=xL3RV6SHY4E

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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


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TeePublic Store: http://cloudacctpod.link/merch


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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


OpenAI's Insane Entity Structure
10 October 2024
OpenAI'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.

Sponsors
Relay - http://accountingpodcast.promo/relay
Ignition - http://accountingpodcast.promo/ignition
Mercury - http://accountingpodcast.promo/mercury


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

https://www.reuters.com/technology/artificial-intelligence/openai-closes-66-billion-funding-haul-valuation-157-billion-with-investment-2024-10-02/

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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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

    Apple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: 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


Intuit Attacks Tax Pros & IRS Can't Measure Audit Rate
04 October 2024
Intuit 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.

Sponsors
OnPay - http://accountingpodcast.promo/onpay
Ignition - http://accountingpodcast.promo/ignition
WorkflowCon - http://accountingpodcast.promo/workflowcon
interVal - http://accountingpodcast.promo/interval


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

https://investors.intuit.com/news-events/press-releases/detail/1215/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

https://www.masscpas.org/news/f339a29a-f278-4bc3-bf30-b1e10d198ca2: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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Transcripts

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


TikTok Tactics and Four-Day Workweeks
26 September 2024
TikTok Tactics and Four-Day Workweeks

Blake and David meet with Natalie Lennon, the Australian accountant known as the "Queen of TikTok" in accounting circles. Natalie shares her experiences at Xerocon Nashville, discusses the differences between Australian and American accounting practices, and explains how she leveraged TikTok to grow her accounting business. She also outlines implementing a four-day workweek, embracing fixed-fee pricing, and her upcoming projects, including a TikTok course for accountants.

Meet Our Guest, Natalie Lennon

LinkedIn: https://www.linkedin.com/in/natalielennon/
TikTok: https://www.tiktok.com/@natlenno


Learn more about Two Sides Accounting

Website: https://www.twosides.com.au/

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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.


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Transcripts

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Remote Work Going Away or Here to Stay?
25 September 2024
Remote Work Going Away or Here to Stay?

Blake and David examine the evolving landscape of remote work, discussing recent trends and their impact on productivity and employee well-being. They also explore the commercial real estate market's challenges due to the shift towards remote work and its potential implications for the banking sector. Moving on, they take a look at recent audit failures, particularly the FTX case and discuss the controversial Beneficial Ownership Information reporting requirements and some potential issues for small businesses.

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Chapters
    (00:49) - Blake's Fitness Journey with Apple Watch

    (03:16) - Impact of Remote Work on Health and Productivity

    (06:25) - Amazon's Return to Office Policy

    (11:36) - CEO Perspectives on Remote Work

    (24:14) - Commercial Real Estate Crisis

    (28:07) - Accounting Standards and Bank Balance Sheets

    (31:25) - Listener Questions and Comments

    (45:06) - The Sunk Cost Fallacy in Real Estate

    (45:41) - The Looming Commercial Real Estate Bust

    (47:51) - The Role of Intangible Assets in Modern Accounting

    (51:24) - The CPA Journey: Is It Worth It?

    (52:09) - The Kenneth CPA Hack

    (01:01:54) - The BOI Reporting Controversy
 


Show Notes

How Remote Work Is Impacting Accounting Firms

https://cpatrendlines.com/2024/09/22/how-remote-work-is-impacting-accounting-firms/

 

2024 KPMG U.S. CEO Outlook Pulse Survey

https://kpmg.com/us/en/articles/2024/kpmg-2024-ceo-outlook-pulse-survey.html

 

Amazon tells employees to return to office five days a week

https://www.cnbc.com/2024/09/16/amazon-jassy-tells-employees-to-return-to-office-five-days-a-week.html

 

Wells Fargo employee found dead at her desk days after she last clocked into work, authorities say

https://www.cnn.com/2024/08/31/us/wells-fargo-employee-desk-arizona/index.html

 

Eric Schmidt Calls Remote Work a Mistake for Google in Disappearing Video

https://nationalcioreview.com/articles-insights/news/eric-schmidt-calls-remote-work-a-mistake-for-google-in-disappearing-video/

 

Audit Firm Prager Metis Settles SEC Charges for Negligence in FTX Audits and for Violating Auditor Independence Requirements

https://www.sec.gov/newsroom/press-releases/2024-133

 

Beneficial Ownership Reporting Outreach and Education Toolkit

https://www.fincen.gov/boi/toolkit

 

BOI requirements roll along despite concerns about too little outreach

https://www.journalofaccountancy.com/news/2024/aug/boi-reporting-requirements.html

 

Property Fraud Allegations Snowball as Commercial Real Estate Values Fall

https://www.wsj.com/real-estate/property-fraud-allegations-snowball-as-commercial-real-estate-values-fall-492d964c

 

Nearly a Quarter of Office Space in the U.S. Will Be Empty by 2026

https://www.cpapracticeadvisor.com/2024/07/01/nearly-a-quarter-of-office-space-in-the-u-s-will-be-empty-by-2026/107376/

 

Big Banks are Taking Hits from Commercial Real Estate

https://www.wsj.com/finance/banking/commercial-property-loans-real-estate-banks-249a43b9


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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.


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Intuit Launches ERP, China Fines PwC, OpenAI's New Model
20 September 2024
Intuit Launches ERP, China Fines PwC, OpenAI's New Model

Blake and David explore Intuit's new Enterprise Suite, a product that appears to compete with NetSuite in the mid-market ERP space. They also
discuss a major audit failure by PwC in China related to Evergrande, raising concerns about the ethics and integrity at large accounting firms.
They also discuss the tragic death of a young accountant at EY in India due to overwork and explore the implications of OpenAI's latest model
outperforming humans on IQ tests.

Sponsors
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The Small Business Research Institute - http://accountingpodcast.promo/ceanow
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Chapters
    (01:32) - Intuit's New ERP System

    (03:43) - Target Market and Pricing Concerns

    (06:11) - Comparing to Competitors

    (18:18) - PwC's Massive Fine in China

    (19:04) - Evergrande's Financial Collapse

    (26:59) - The Bigger Picture of Audit Quality

    (30:08) - Australian Accountants and the PwC Debacle

    (31:05) - Tragic Death of EY Employee in India

    (33:16) - The Hypocrisy of Overwork in the Big Four

    (40:42) - OpenAI's New Model: A Game Changer

    (49:43) - Driverless Cars: The Future of Transportation

    (53:15) - NASBA's New Competency-Based CPA Pathway

    (01:01:23) - Conclusion and Farewell
 


Show Notes

Intuit Introduces Intuit Enterprise Suite to Help Businesses Grow, Streamline Operations, and Scale

https://investors.intuit.com/news-events/press-releases/detail/1213/intuit-introduces-intuit-enterprise-suite-to-help-businesses-grow-streamline-operations-and-scale 

PwC faces record fine over Evergrande audit in China

https://finance.yahoo.com/news/pwc-faces-record-fine-over-131518742.html

 Death of young Ernst & Young employee raises questions about workplace culture

https://www.nbcnews.com/news/world/death-young-ernst-young-employee-raises-questions-workplace-culture-rcna171945 

Comparison of Models: Quality, Performance & Price Analysis

https://artificialanalysis.ai/models

Waymo significantly outperforms comparable human benchmarks over 7+ million miles of rider-only driving

https://waymo.com/blog/2023/12/waymo-significantly-outperforms-comparable-human-benchmarks-over-7-million 

AICPA, NASBA propose a new pathway to CPA licensure

https://www.journalofaccountancy.com/news/2024/sep/cpa-competency-based-licensure-pathway.html

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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