Accounting Today Podcast

Technology thought leader shares how firms should think about their tech stack. Discusses selecting products, common mistakes, security and backup considerations, and managing an effective tech stack.

As the flow of young people into the profession slows, and more and more old accountants are leaking away, Sue Coffey, the CEO of public accounting at the AICPA, and Lexy Kessler, chair of the National Pipeline Advisory Group, share what's being done in the short term and the long term to address this major problem.

Customer and client relationship management systems have come a long way, says Sarah Dobek of Inovautus Consulting – and it's time for firms to give them a second look.

The podcast discusses the labor shortage, rising material costs, and compliance issues in the construction industry. It explores the challenges faced by construction firms and the role of accountants in guiding businesses. The range of services accountants can offer in the construction field and the importance of innovative ideas are also discussed.

Lots of businesses have claimed the Employee Retention Credit who don't actually qualify for it — and in many cases it's going to be up to their accountants to set them right. Randy Crabtree of Tri-Merit Tax Specialty Tax Professionals and the Unique CPA podcast dives into how you can know if a client qualifies, as well as the intricacies of some other major tax credits.

AJ Johnson, Geoff Brown and Calvin Harris share their unique perspectives as African-Americans who lead three of the biggest state CPA societies (respectively, the New Jersey Society of CPAs, the Illinois CPA Society, and the New York State Society of CPAs) on the major challenges facing their members, the primacy of the pipeline problem as an issue, and the role diversity can play in alleviating it -- if the profession can find a way to diversify itself.

The entry of private equity into public accounting has raised a lot of hopes and expectations and concerns – not all of which can pan out. Bob Lewis of the Visionary Group examines the opportunities, what it will mean for your firm, and how it will play out in the future.

Accountants discuss emerging risks including tax examinations, financial statement reporting challenges with cannabis, noncompliance with laws and regulations, and payer's to entity tax. They provide advice on protecting oneself during tax season, the importance of billing regularly and using engagement letters, and proactive measures for preventing lawsuits and claims.

For accounting firms to scale, they need to build a stronger infrastructure of professional HR, marketing, IT and other support systems, says Rachel Anevski, the founder of Matters of Management.

Accounting technology expert Randy Johnston discusses the current and future capabilities of accounting tech, including the rise of cloud-based platforms and automation. He explores the challenges faced by buyers in the market, the complexity of ESG reporting, and strategies for approaching and implementing accounting software.