The Accounting Podcast

The proposal from the Department of Education could redefine accountants as non-professionals, stirring fear among students and professionals alike. Deloitte's AI missteps in government reports spark debate, while EY showcases a remarkable audit turnaround. OpenAI's investments lead to discussions on AI-driven rollups in accounting. Xero unveils a new auto-reconcile feature, and Google Workspace promotes shared inboxes to aid small firms. Finally, creative networking strategies offer job seekers unique paths to opportunity.

Thanksgiving discussions sometimes get awkward, especially when money overtakes politics as a taboo topic. The 2026 job market looks bleak for new grads, raising concerns for future accountants. Listeners seek advice on CPA experience challenges, while audit partners show surprising optimism in tough times. AI's limitations are explored, revealing that human oversight remains essential in accounting tasks. Plus, insights on whether students should aim for big firms or small ones and debates around the relevance of accounting education today.

The discussion dives into how AI can enhance cost segregation, tackling tasks that typically take just a few minutes. Michael Burry's intriguing bet against AI companies raises eyebrows, alleging they manipulate earnings through depreciation strategies. Intuit's massive $100 million deal with OpenAI draws attention, aiming to integrate AI across its platforms. They also explore troubling statistics, revealing that 10% of adults act on flawed AI tax advice, emphasizing the tech's current pitfalls and risks.

James Erving, Head of Sales Americas at Fathom, teams up with Chris Macksey, CEO of Prix Fixe Accounting, to explore the evolving role of advisory in accounting firms. Chris reveals how his firm exclusively provides advisory services for restaurants, using industry trends to guide decisions on menu pricing and expansion. They discuss the importance of transforming data into actionable insights, highlighting forecasting techniques and visual KPIs that cater to clients with low financial literacy, ensuring they truly understand their business performance.

Lisa Gilreath, managing partner at Acuity, and Valerie Heckman, accountant community manager at OnPay, delve into empathetic leadership in the demanding accounting industry. They discuss effective strategies to combat burnout, such as spreading workloads and recognizing when team members struggle. The duo emphasizes the importance of building slack into capacity planning and supports the idea of monitoring PTO usage as an indicator of team health. Listeners gain insights on balancing client expectations while prioritizing employee well-being.

Madeline Reeves, Founder of Fearless Foundry, and Wesley McDonald, Go-to Market Leader at Relay, dive into the world of renegade accounting firms. They discuss how these firms revolutionize client experiences and prioritize values that lead to meaningful connections. The conversation highlights the importance of transparency in compensation and the benefits of inviting diverse talents from outside the industry. They also explore how collaboration over competition can reshape firm cultures and attract the right clients.

Mary Delaney, CEO of Karbon, known for her expertise in workflow automation, joins Kenji Kuramoto, co-founder of Acuity, a leader in client accounting services. They dive into how standardizing workflows can enhance efficiency without compromising the creative aspects of advisory work. Topics include Karbon's acquisition of Aider for automating month-end tasks and the importance of time studies for identifying automation opportunities. They also discuss integrating workflows during mergers and the role of AI in streamlining operations.

The discussion heats up around NASBA's exploration of private equity and its potential threats to auditor independence. Intuit plans to open TurboTax retail stores, stirring debate over the IRS's decision to end Direct File. The Supreme Court expresses skepticism about presidential tariff authority, while AI agents fall victim to scams in experimentation. Additionally, the scandal surrounding BDO's audits of First Brands reveals alarming financial oversights. Tune in to unpack these pressing issues impacting the accounting profession this tax season!

Marie Greene, a CPA and CEO of Connected Accounting, and Ryan Embree, Director of Partnerships at Ignition, discuss crucial strategies for pricing in accounting firms. They reveal how many firms are undervaluing services due to fear. The duo highlights common traps for underpricing and offers actionable tactics, like auditing client services and automating annual price increases. They also role-play a pricing conversation, illustrating how to approach fee discussions without damaging client relationships. Finally, they emphasize that clients are willing to pay for expertise and peace of mind.

Alicia Katz Pollock joins the show fresh from Intuit Connect with detailed notes on everything announced for QuickBooks Online and the accounting profession. The discussion covers Intuit's consolidation strategy to reduce reliance on third-party apps, the new tiered pricing structure for the Intuit Accountant Suite launching in 2026, and how AI agents are currently performing in bank feeds and transaction categorization. They also examine QuickBooks' move into CRM and marketing tools, the role of QuickBooks Live in Intuit's strategy, and what alternatives small businesses and accountants might consider.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/cas Rippling - http://accountingpodcast.promo/ripplingBILL - http://accountingpodcast.promo/billChapters(00:00) - Introduction and Guest Welcome (00:56) - Intuit Connect Conference Overview (01:32) - Changes in QuickBooks and Intuit's Strategy (02:03) - AI Integration in QuickBooks (05:26) - The New Customer Hub and MailChimp Integration (06:54) - Concerns About AI and QuickBooks Ecosystem (12:10) - ProAdvisors' Role in the AI Era (19:44) - Addressing Reporting and Automation Issues (27:43) - The Future of QuickBooks Online Accountant (28:21) - New Features and Paid Tiers (29:24) - Intuit Accountant Suite Overview (30:40) - Core and Accelerate Versions (30:54) - Client Management and Dashboards (33:22) - Practice Management Tools (34:01) - Intuit's Market Strategy (38:04) - ProAdvisor and QuickBooks Live (40:31) - Quicken's Comeback (43:34) - AI and Automation in Accounting (53:52) - Intuit's Future Plans and Innovations (56:44) - Conclusion and CPE Information  Listen and Subscirbe to The Unofficial QuickBooks Accountants Podcast!https://uqb.show/subscribeConnect with Alicia Katz Pollock!https://www.linkedin.com/in/aliciakatzpollock/https://royalwise.com/ Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsCollective by DBA - https://collective.cpa/ Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page