CPA Trendlines Podcasts

Stopping cyber threats before they start begins with adopting one essential email habit today.Quick Tech TalkWith Steve YossCPE TodayIn today’s digital age, email continues to be a critical tool for communication—but it’s also a leading gateway for cyber threats such as malware, ransomware, and financial scams. For professionals, this makes email not only a convenience but also a significant risk factor. MORE STEVE YOSSMORE TECHExclusively for PRO Members. Log in here or upgrade to PRO today.Email requires your utmost vigilance. Cybercriminals often use sophisticated tactics like phishing and spear phishing to disguise themselves as trusted clients or colleagues. Spotting these scams can be incredibly challenging, as fraudulent emails often mimic legitimate communication styles and addresses.

Join industry leaders Bobby Lane, Tony Szczepaniak, Rick Richardson, and Randy Wooten as they tackle the pressing challenges and opportunities in the accounting profession. They discuss talent shortages and the need for innovative approaches to attract the next generation. The conversation highlights the importance of rebranding accounting to shift perceptions and emphasize its potential for proactive business strategies. With a focus on adapting to technological change, they explore how automation and AI can revolutionize the industry's future.

Bill Sheridan, Chief Communications Officer at the Maryland Association of CPAs, shares insights on why CPA firms must adapt to thrive. He emphasizes that as technology automates compliance, firms need to pivot toward client advisory services to meet changing client expectations. Sheridan warns that neglecting client relationships is a greater risk than automation itself, drawing parallels with bad customer service in retail. He advocates for a focus on interpersonal skills and proactive leadership as essential for future success in the accounting industry.

“Without AI literacy, we’re all at risk.” Accounting ARCWith Liz Mason, Byron Patrick, and Donny ShimamotoCenter for Accounting TransformationArtificial intelligence is revolutionizing accounting, automating everything from bookkeeping to tax preparation. But as AI advances, accountants must ask: Can we trust it? In this Accounting ARC episode, Donny Shimamoto, CPA.CITP, CGMA; Byron Patrick, CPA.CITP, CGMA; and Liz Mason, CPA, explore the growing risks AI poses to the profession, including deepfake fraud, financial market manipulation, and the loss of data privacy. MORE Accounting ARC: The Research Imperative: Why Data Drives Accounting Success | How Coaching Can Unlock Professional Success | Demystifying Accounting Governance |  Top 10 Red Flags to Watch for in Accounting Offices | Jeremy Dubow: Private Equity as a Catalyst for Growth | Break the Burnout Cycle in Accounting | Accounting in Transition: 2024 Reflections & the Road Ahead | Ron Baker: Visions for the Accounting Profession | Angie Grissom: Next Gen Inspo for Accountants | Does Accounting Belong in STEM? | Rose Wang: Where Numbers Meet Strategy and Creativity | TikTok Fraud Exposes Gaps in Financial Literacy | How Accounting Pros Own the Stage in Public Speaking | Greg Kyte: Being a CPA Is Like Being the Marie Kondo of Numbers | Rachel Bashore: A Lawyer's Case for Reinventing Accounting | Beyond the Basics in Ethics EducationTraditionally, software was designed and programmed by humans, making its logic transparent. Now, AI writes its own code, making its decisions harder to audit. As Patrick, CEO of VERIFYiQ and co-founder and educator for TB Academy, notes, “If we don’t know how AI arrives at conclusions, how can we verify its accuracy?” 

Make the most of financial contributions.Quick Tax TipWith Art WernerCPE TodayWhen it comes to charitable giving, many people think of writing an annual check to their favorite nonprofit. However, strategic charitable planning is much more than just making a yearly donation—it’s about aligning generosity with effective tax strategies to maximize impact while benefiting both the donor and the recipient. Get more Art Werner at cpatrendlines.com here: https://cpatrendlines.com/author/art-werner/ Whether you’re considering making gifts during your lifetime or planning your estate, understanding the best ways to direct your assets can create meaningful tax advantages while supporting causes that matter most to you.“Charitable planning goes well beyond just saying, ‘I’ll make a donation,’” Werner explains. “It involves estate planning, asset allocation, and structuring gifts in ways that are both tax-efficient and personally meaningful.”Donating to charitable organizations offers more than just a feel-good moment. With proper planning, taxpayers can leverage their generosity to reduce taxable income, manage estate taxes, and optimize their financial legacy. 

Do the work that fulfills you.The DisruptorsWith Liz FarrCannabis accounting is not for the faint of heart, says Monique Swansen, owner of Accounting for Green, which provides accounting services to cannabis businesses. First, there’s a big inventory component, so “if you're an accounting professional that does not want to deal in inventory, cannabis is not your space,” Swansen says. Cannabis inventory is further complicated by Federal law, which disallows tax deductions for anything but the cost of goods sold. This means meticulous tracking of all direct costs to get the maximum possible tax deduction. Compliance with state laws also requires “documentation for every single movement of inventory or money,” says Swansen. Banking is also challenging because “no Federal banks will bank cannabis.”  MORE PODCASTS and VIDEOS: Tina McGill: How to Create Lasting Client Impact | Stefan van Duyvendijk: Develop Operational Mindset | Steve Evans: Why Traditional Hiring Methods Fail | Roger Knecht: Can You Be an Accountrepreneur? | Beth Whitworth: Focus on Outcomes Not Hours | Mike Sylvester: Learn to Say No | Salim Omar: Identify Your Client's $100,000 Problem | Jackie Meyer: Earn More with Fewer Clients | Jack Fleherty: Don't Be a 'Yes' Person | Greg Adams: From Finance to Storytelling | The Disruptors | Jody Padar: Make Radical Changes Now If You Want to Be Relevant in 2030 | Cannabis business owners tend to know less about running a business than many other types of businesses. “So you really have to start that relationship early and try to talk with those people and understand those people where they're at so that you can really help them,” Swansen recommends. Her personal sweet spot is starting to work with cannabis businesses three to six months before they become operational.

Empowering employees is crucial in the fight against fraud. Training staff to recognize red flags like transaction discrepancies can enhance a firm's defenses. Sharing potential fraud scenarios encourages vigilance and teamwork. Employees are often the first line of defense, effectively serving as the organization's eyes and ears. A proactive approach not only protects the firm but also benefits clients by mitigating risks before they escalate.

Nick Huber, a seasoned journalist and content strategist from the Financial Times, reveals how accounting firms can leverage content for growth. He stresses that effective content goes beyond marketing—it's a chance to showcase authority and build trust. Huber encourages firms to produce engaging material, like blogs and white papers, while advocating for a more conversational approach to thought leadership. He also emphasizes the need for bold opinions in content creation to ignite dialogue and enhance audience engagement.

In this discussion, Amy Vetter, CEO of the B3 Method Institute, shares her expertise in transforming workplace culture in accounting firms. She highlights how strong leadership and clear communication can create a thriving work environment. Vetter emphasizes the importance of setting boundaries to reduce stress and encourages employees to prioritize self-care. A unique touch includes her musical insights, showcasing how music can serve as a stress reliever. Overall, her strategies aim to empower employees and cultivate a supportive, engaged culture.

Dive into the fascinating realm of accounting transformation as thought leaders discuss the crucial role of research and data. Discover how data shapes industry trends and influences informed decision-making, helping accountants navigate complexities. Explore the challenges of confirmation bias and the need for objective analysis. Learn about evolving methodologies in accounting research and the importance of continuous learning. With playful analogies and insightful discussions, this is a must-listen for future-focused accounting professionals.