Blake, David, and special guest ChatGPT examine the impact of private equity on accounting firms, looking at how PE ownership affects compensation and firm structures. They dig into recent data showing record numbers of accounting errors in public companies, linking these issues to the broader talent shortage crisis. They explore CalCPA's pushback against proposed licensing changes, the surprising economic costs of Daylight Savings Time, and more.
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Chapters- (00:59) - Introducing ChatGPT as Co-Host
- (01:58) - Hot Topics in Accounting News
- (04:05) - Private Equity in Accounting Firms
- (07:35) - Debating the Impact of Private Equity
- (22:40) - DirectFile Controversy
- (28:02) - App News and Updates
- (34:23) - Enron's Return?
- (38:28) - Fraudsters and Presidential Pardons
- (42:00) - Accounting Errors on the Rise
- (44:52) - The Daylight Savings Debate
- (50:04) - AI Tools: The Good, The Bad, and The Ugly
- (58:26) - Final Thoughts and Announcements
Show Notes
Accounting errors force US companies to pull statements in record numbers
https://www.ft.com/content/716c4ad5-e8fa-4a34-afba-9fb2d1db019d
Republican lawmakers ask Trump to kill IRS Direct File
https://www.nextgov.com/digital-government/2024/12/republican-lawmakers-ask-trump-kill-irs-direct-file/401595/
IRIS to buy Dext in £500m deal
https://www.accountingweb.co.uk/tech/accounting-software/iris-to-buy-dext-in-ps500m-deal
How Private Funds Could Hurt Americans Under Trump
https://www.nytimes.com/2024/12/03/opinion/trump-presidency-billionaires.html
LegalZoom and 1-800Accountant Join Forces to Deliver Full-Service Tax and Bookkeeping Solutions for Small Business Owners
https://investors.legalzoom.com/news-releases/news-release-details/legalzoom-and-1-800accountant-join-forces-deliver-full-service
Zoho Releases New Payroll Solution in the U.S.
https://www.cpapracticeadvisor.com/2024/12/13/zoho-releases-new-payroll-solution-in-the-u-s/152935/
BILL Unveils 1099 Form Filing Solution for SMBs
https://investor.bill.com/news/news-details/2024/BILL-Unveils-1099-Form-Filing-Solution-for-SMBs/default.aspx
Is Enron back? Here’s what we know …
https://www.houstonchronicle.com/news/houston-texas/trending/article/is-enron-back-houston-19953844.php
CalCPA Submits Comments on Exposure Draft on CPA Licensure
https://www.calcpa.org/whats-happening/articles/calcpa-submits-comments-on-exposure-draft-on-cpa
CEOs Want Trump to Change Course on Tariffs. He Isn’t Budging.
https://www.wsj.com/economy/trade/trump-tariff-plan-business-lobbying-8f02ccea
Donald Trump vows to end daylight saving time
https://www.youtube.com/watch?v=EDR1IURzO1Q
More Than a Lost Hour of Sleep: The True Cost of Daylight Saving Time
https://www.chmura.com/blog/dst#:~:text=our%20methodology%20below.-,Results,was%20approximately%20%24672.02%20million%20annually
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