There’s a lot to digest in this episode! Blake and David discuss Microsoft's $28.9 billion tax bill, and examine a tax-fraud scheme involving art donations. JPMorgan Chase CEO Jamie Dimon predicts that AI advancements will create a shorter workweek in the future. They also look at Xero’s newest features, including improved algorithms for recognizing new contacts and bank reconciliation statements, and talk about Grant Thornton's implementation of Git Assist, an AI tool for accessing internal knowledge resources. All this and so much more, right here, right now!
 

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• (00:35) - The war in Israel and its effect on tech startups
• (04:36) - Heather Smith sends in an example of an AI language changer she used
• (06:49) - Arthur Andersen's Chicago house for sale
• (09:17) - Updates from the FTX, Sam Bankman-Fried trial
• (15:44) - IRS contractor who leaked tax returns of famous agrees to plea deal
• (19:03) - Trump trial updates
• (22:49) - George Santos facing 23 new charges
• (24:50) - Update on the Canada CPA standoff
• (26:42) - Nationwide accounting shortage is threatening small towns
• (27:59) - Number of accounting graduates drop largest percentage in single year since 1985
• (31:03) - Workday and the problem with schools rolling out ERP's
• (38:02) - What pricing lessons accounting firms can learn from ski resorts
• (42:56) - CFO Brew's survey on remote work
• (47:27) - IRS says Microsoft owes $28.9 billion in back taxes
• (51:40) - IRS tax-gap predictions, and scams to watch for in 2022
• (54:59) - Jamie Dimon predicts AI will reduce workweeks to 3.5 days
• (55:56) - Xero announces new AI features
• (56:49) - Grant Thornton rolls out GT Assist
• (59:13) - Earn free CPE for listening to this episode and remember to subscribe

Show Notes

Pool of accounting graduates shrinks, AICPA report finds

https://www.journalofaccountancy.com/news/2023/oct/pool-of-accounting-graduates-shrinks-aicpa-report-finds.html

Report: Iowa can pay the bills but lacks transparency in its accounting

https://blackchronicle.com/midwest/iowa/report-iowa-can-pay-the-bills-but-lacks-transparency-in-its-accounting/

New accounting system causes bill backlog at U of Washington

https://www.insidehighered.com/news/quick-takes/2023/10/12/new-accounting-system-causes-bill-backlog-u-washington

Grant Thornton launches internal generative AI tool          

https://www.accountancydaily.co/grant-thornton-launches-internal-generative-ai-tool

Art of Accounting: Leaving your job to start your own practice

https://www.accountingtoday.com/opinion/art-of-accounting-leaving-your-job-to-start-your-own-practice

Arthur Andersen's Winnetka home for sale

https://www.chicagobusiness.com/residential-real-estate/arthur-andersens-winnetka-home-sale

The SBF Trial is Embarrassing For Crypto Industry               

https://www.smallbiztechnology.com/archive/2023/10/the-sbf-trial-is-embarrassing-for-crypto-industry.html/

Returning to the office is costing you $51 per day, study finds       

https://finance.yahoo.com/news/returning-office-costing-51-per-172630839.html

Microsoft May Owe $28.9 Billion in Back Taxes to the IRS

https://gizmodo.com/microsoft-may-owe-28-9-billion-in-back-taxes-to-the-ir-1850921247

IRS Says Tax Gap For 2021 Expected To Be $688 Billion     

https://www.forbes.com/sites/kellyphillipserb/2023/10/12/irs-says-tax-gap-for-2021-expected-to-be-688-billion/

How Israel's tech community is responding to the Israel-Hamas war           

https://www.cnbc.com/2023/10/13/israels-tech-community-responds-to-israel-hamas-war.html

Iowa's annual financial report late again; agencies mum on why

https://www.bleedingheartland.com/2022/02/02/iowas-annual-financial-report-late-again-agencies-mum-on-why/

Iowa auditor slams governor, state for delays threatening universities

https://www.thegazette.com/higher-education/iowa-auditor-slams-governor-state-for-delays-threatening-universities/

UW’s Financial Accounting System            

https://www.washington.edu/opb/uws-financial-accounting-system/

WSU recognized externally for Workday expertise              

https://news.wsu.edu/news/2023/07/27/wsu-recognized-externally-for-workday-expertise/

Ohio State drops effort to update student information system

https://www.insidehighered.com/news/2022/01/11/ohio-state-drops-effort-update-student-information-system

LMU announces Workday Forward; staff reflect on the “abysmal fiasco” of original Workday launch

https://www.laloyolan.com/news/lmu-announces-workday-forward-staff-reflect-on-the-abysmal-fiasco-of-original-workday-launch/article_13a1bb8f-fae6-5958-abe4-c090a...