FTX had 80,000 transactions in Ask My Accountant; the crazy cost accounting behind EY's failed breakup; using ChatGPT for financial statement analysis; what the tech world thinks AI will automate in accounting and more!

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• (00:00) - CAP 329
• (00:39) - PREVIEW: How ChatGPT saved Erica
• (01:09) - Introduction
• (07:48) - FTX had 80,000 transactions in Ask My Accountant
• (12:04) - Blake plays a clip from the All-In podcast on AI accounting
• (17:25) - ChatGPT vs real accountants and students on tests
• (25:48) - Hector Garcia's example of using ChatGPT for analysing financial statements
• (31:24) - Is Erica using ChatGPT at all in her firm?
• (36:18) - EY breakup news
• (42:13) - Donna's voicemail on her sons college tour and accounting majors
• (48:18) - Deloitte kicks off program for high school students to earn accounting credits
• (49:29) - Can AI help save education?
• (52:48) - The IRS shows customer service improvements in 2023
• (54:22) - Are accountants actually experiencing a better tax season?
• (01:01:49) - Crazy MYOB commercial
• (01:03:41) - Wrap up and where to reach everyone

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Show Notes

Blake Oliver on Twitter: "My speaking session was selected for #Expensicon”

https://twitter.com/BlakeTOliver/status/1649440639355097088

SURVEY: Busy Season Looking Good - CPA Trendlines         

https://cpatrendlines.com/2023/04/10/survey-busy-season-looking-good/

EY Confronts Slowing Growth After Breakup Deal Fails - WSJ          

https://www.wsj.com/articles/ey-confronts-slowing-growth-after-breakup-deal-fails-9442c85d

Magic Workflow: AI-Powered Workflow and Process Generator   

https://clienthub.app/blog/new-feature-magic-workflowai-powered-workflow-and-process-generator/

Ernst & Young has axed its plan for a split of its auditing and consulting arms, marking a dramatic and costly retreat                

https://www.wsj.com/articles/ernst-young-halts-breakup-plan-bd2e2fa0

Is that the IRS with your refund? No, it's a ChatGPT scam

https://www.politico.com/newsletters/weekly-tax/2023/04/17/is-that-the-irs-with-your-refund-no-its-a-chatgpt-scam-00092169

Taylor Swift avoided $100 million FTX deal with securities question: lawyer https://www.businessinsider.com/taylor-swift-avoided-100-million-ftx-deal-with-securities-question-2023-4

ChatGPT less than 50% accurate in accounting exams, study finds https://www.accountancyage.com/2023/04/21/chatgpt-less-than-50-accurate-in-accounting-exams-study-finds/

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