The Accounting Podcast

Yoseph West, an expert in banking solutions for accountants and small businesses, discusses Relay Financial's ambition to solve banking problems by becoming a bank. They cover topics such as the redesigned accountant partner program, best practices for incorporating technology into accounting practices, and the importance of understanding client pain points. They also highlight the success some firms have had with Relay, saving time and speaking the client's language. Additionally, they discuss the launch of a new receipt capture feature and the benefits of combining banking, bill pay, and expense management into one app.

Topics discussed in the podcast include difficulty finding accountants for tax season, strategies for finding a tax preparer, the use of AI for taxes, Brex's journey and Microsoft Mesh, questionable accounting practices and a cryptocurrency fraud, cryptocurrency losses and questionable actions by FTX, the influence of bonuses on acquisitions and the role of due diligence, CPA licensure and mobility challenges, and the real estate crisis in China.

Topics explored in this podcast include working as a TurboTax preparer, barriers faced by career-changers entering public accounting, root causes behind accounting's heavy workloads, licensing rules and firm profitability shaping experiences, the norm of using bank statements for loans in Puerto Rico, creating a 'paralegal' type license in the accounting field, ways to mitigate busy season, and the importance of hiring experts and building client relationships.

The podcast discusses the challenges of busy season and work-life balance for accountants. They also explore cryptocurrency investment risks, global economic impacts, and AI trends. Topics include AI-caused layoffs, SEC approval of crypto ETFs, self-driving vehicle safety, and a small town tax budget balanced with an accounting system implementation. The podcast covers various chapters including attracting lifelong customers, reducing late hours in accounting firms, subscription pricing in coffee shops, and the impact of moving money out of China's economy.

Dominic Piscopo, Founder of Big4Transparency.com, discusses the value of using the platform for salary negotiation and highlights trends in accounting salaries. They also explore the impact of job hopping on earnings, the relationship between work environment and job satisfaction, and their consulting work on determining pay levels for firms.

Blake and David discuss the Arizona CPA Society's survey on alternatives to the 150-hour rule, the UK Post Office scandal, Deloitte's audit failures, the talent shortage in auditing, and the need for major reforms in the accounting profession.

Blake and David meet up with TJ Lewis and Aaron Van Ruler from Rightworks about their new AI tool called Spark, built specifically for accountants on top of ChatGPT. They discuss how Spark helps accounting professionals by providing industry-specific content, tools, and assistants to enhance efficiency and expertise. TJ and Aaron also share details on Spark's capabilities, roadmap, and potential integration with other Rightworks products.Meet Our GuestsTJ Lewis, Innovation Strategist, RightworksLinkedIn: https://www.linkedin.com/in/tj-lewis/Aaron Van Ruler, Innovation Strategist, RightworksLinkedIn: https://www.linkedin.com/in/avanruler/Learn more about Rightworkshttps://ai.rightworks.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 Cloud 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/OvercastClassifiedsWant 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

Blake throws his hat into the ring for President and CEO of NASBA! Hear how he intends to shake things up should he be chosen! Next, Blake and David unpack a survey on the surprisingly low tax-preparer fees across the country, discuss the headaches still posed by interstate CPA licensing, and consider some solutions like modeling CPA reciprocity rules! Grab some snacks and enjoy!Sponsors LiveFlow - http://accountingpodcast.promo/liveflowUncat - http://accountingpodcast.promo/uncatBookkeep - http://accountingpodcast.promo/bookkeepChapters(00:00) - How Much Tax Preparers Charge (01:24) - Blake applied to be the new NASBA President and CEO (09:02) - David's customer experience at a Publix's grocery store (11:12) - National Association of Tax Professionals 2023 survey results (18:00) - What type of returns are they doing? (23:23) - How do tax preparers operate? (24:39) - How do tax preparers price? (27:45) - Now lets talk about business tax returns (32:09) - When do tax preparers get paid? (51:04) - What work went unbilled? (55:05) - Type of services offered (55:34) - Average wages for tax employees (56:15) - Blake checks in with the live stream (59:21) - Daryl asks for career advice (01:05:03) - New TurboTax ad doesn't shy away from "free" claim (01:06:17) - Listener email on reciprocity (01:18:45) - Wrap up and where to reach us  Show NotesIntuit TurboTax's 2024 "Make Your Moves Count" Campaign Highlights Its Tax Experts, AI Technology and Filing Solutions Ensuring the Best Tax Outcome for All Types of Filers   TurboTax Free Edition 2024 Commercial "Free Connoisseur" (Official TV Ad :30) NATP 2023 Tax Professional Fee StudyNeed 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 Cloud 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/OvercastClassifiedsRoyalwise - https://royalwise.com/partnerForwardly - https://www.forwardly.com/LiveFlow Event - https://www.liveflow.io/events/greg-kyte-eventREFRAME WORKSHOP - https://www.reframe2024.com/ClassifiedsWant 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

In this 2023 wrap-up, Blake and David discuss an appeals court ruling that audit reports are so generic they are essentially useless to investors. They also explore the concept of "productivity theater" where employees pretend to be constantly working, even though it leads to disengagement and burnout. Continuing the theme, they contemplate why mandatory weekend work persists and share ideas on how firms can improve work-life balance. Rounding out the discussion, they offer up some career advice to accounting students on finding fulfilling roles and avoiding common traps such as extreme overwork. Sponsors LiveFlow - http://accountingpodcast.promo/liveflowZoho - http://accountingpodcast.promo/zohoEarmark - https://earmarkcpe.promo/EarmarkMediaKitChapters(00:21) - David will get an Earmark tattoo at 100,000 subscribers (04:19) - Slack survey reveals forced overtime reduces productivity (07:43) - Remote workers' surveillance (10:23) - Mandatory Saturdays going away (16:18) - What is keeping firms up at night? (21:45) - What percentage of firms are filing tax extensions for their clients (23:53) - A junior accounting student asks for some advice (29:55) - Appeals court rules audit report is immaterial (35:05) - SPACs accounted for at least 21 bankruptcies and $46 billion lost in 2023 (39:57) - The importance of finding and making your own work/life balance (48:49) - Back to advice for younger accountants entering the profession (57:48) - An accountant has a breakdown at the airport (59:50) - Thanks for listening and remember to subscribe  Show NotesTurning staff into workaholics makes them way less productive | FortuneBurned Investors Ask ‘Where Were the Auditors?’ A Court Says ‘Who Cares?’ - WSJAccounting in 2024: The year ahead in numbersFull PDF of study is here: https://www.accountingtoday.com/research-report/optimism-abounds-but-people-problems-persistSPAC companies accounted for at least 21 bankruptcies this year and a staggering $46 billion in lost investor value | FortuneNeed 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 Cloud 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/OvercastClassifiedsRoyalwise - https://learn.royalwise.com/Forwardly - https://www.forwardly.com/LiveFlow Event - https://www.liveflow.io/events/greg-kyte-eventClassifiedsWant 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

Just in time for the holidays, Blake and David examine the accounting professor from NYU who charged Trump nearly $900,000 for expert testimony. They also tackle issues around accountant retention and turnover, tax updates, the financial operations of Hamas, as well as Hunter Biden's indictment on tax charges, and tips for using spreadsheets in filmmaking and other creative projects. All this and more to keep you entertained while you wrap those last-minute gifts!Sponsors LiveFlow - http://accountingpodcast.promo/liveflowEarmark - https://earmarkcpe.promo/EarmarkMediaKit Keeper - https://cloudaccountingpodcast.promo/keeperChapters(00:38) - Who knew being an expert witness paid so well (06:49) - Former Wall Street accountant leaves profession to become an escort and exotic dancer (09:43) - Illinois retention survey (17:27) - Has AI job replacement theory reached mainstream? (18:37) - Why employees resign (21:02) - Accounting rules and the supply of accountants (25:00) - FASB announces new rules for cryptocurrencies (26:14) - IRS expanding their modernization efforts for technology (27:55) - FinCEN updates a new service opportunity for accountants (34:27) - Former Jaguars employee accused of stealing over $22 million (39:30) - Nikola founder sentenced to prison for fraud (43:17) - 64% of employees waste time due to lack of deadlines (45:27) - EY laying off US partners (48:35) - EY names Janet Truncale first female global CEO of big 4 firm (49:27) - The IRS plans reorg at the highest leadership levels (50:09) - Israel and the US knew of Hamas bank account (54:07) - Hunter Biden's indictment (58:29) - All Sorts director demonstrates how he uses spreadsheets (01:02:14) - Wrap up and where to reach us  Show NotesTrump PAC paid for expert witness testimony in NY civil fraud trialhttps://www.nbcnews.com/politics/donald-trump/trump-pac-paid-expert-witness-testimony-ny-civil-fraud-trial-rcna128804 EY Is Laying Off U.S. Partners Amid Tough Economic Conditions – WSJhttps://www.wsj.com/articles/ey-is-laying-off-u-s-partners-amid-tough-economic-conditions-9efc4aa6 Accounting Rules and the Supply of Accountants by Anthony Le :: SSRNhttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=4666335 Righting Retention - Insight Special Featurehttps://www.icpas.org/information/professional-issues/talent-retention Stripper and escort rakes in $34k per week catering to Wall Streethttps://nypost.com/2023/12/18/business/stripper-and-escort-rakes-in-34k-per-week-catering-to-wall-street/ FinCEN ramps up guidance as beneficial ownership requirements looms | Accounting Todayhttps://www.accountingtoday.com/opinion/fincen-ramps-up-guidance-as-beneficial-ownership-requirements-fast-approach Trevor Milton Gets Four Years in Prison for Deceptions on Zero-Emission Truckshttps://www.wsj.com/us-news/law/trevor-milton-lied-about-nikolas-zero-emission-trucks-is-that-worth-a-decade-in-prison-ae35ce40 64% of Employees Waste Hours Due to Lack of Deadlines | CFOhttps://www.cfo.com/news/64-of-employees-waste-hours-due-to-lack-of-deadlines/702774/ IRS Expands Business Tax Account Tool To Include S Corps And Partnershipshttps://www.forbes.com/sites/kellyphillipserb/2023/12/18/irs-expands-business-tax-account-tool-to-include-s-corps-and-partnerships/ Israel Found the Hamas Money Machine Years Ago. Nobody Turned It Off.https://www.nytimes.com/2023/12/16/world/europe/israel-hamas-money-finance-turkey-intelligence-attacks.html?smid=nytcore-ios-share&referringSource=articleShare Hunter Biden Charged With Evading Taxes on Millions From Foreign Firmshttps://www.nytimes.com/2023/12/07/us/politics/hunter-biden-indictment.html Former Jaguars employee accused of stealing over $22 million – ESPNhttps://www.espn.com/nfl/story/_/id/39059710/former-jaguars-employee-accused-stealing-22-million EY names Janet Truncale as first female global CEO of Big Four firm | Accounting Todayhttps://www.accountingtoday.com/articles/ey-names-janet-truncale-as-first-female-global-ceo-of-big-four-firm NY AG disputes Trump expert’s GAAP analysis      https://www.cfodive.com/news/gaap-holds-spotlight-final-stretch-250m-trump-civil-fraud/702327/Hunter Biden Indicted On Criminal Tax Charges In Californiahttps://www.forbes.com/sites/kellyphillipserb/2023/12/08/hunter-biden-indicted-on-criminal-tax-charges-in-california/ Hunter Biden Charged with Tax Crimes in Los Angeleshttps://www.cpapracticeadvisor.com/2023/12/11/hunter-biden-charged-with-tax-crimes-in-los-angeles/98977/ Trump's accounting expert trashes NY's 'absurd' fraud casehttps://www.accountingtoday.com/articles/trumps-expert-accounting-witness-trashes-nys-absurd-fraud-case-in-court-clash Donald Trump returns to court, lauds his defense expert who sees no evidence of accounting fraud