Journal of Accountancy Podcast

In the first part of a two-part podcast discussion, Hamza Khan detailed how he was affected by a severe case of burnout about 10 years ago. In this episode, Khan, an author and keynote speaker, shares more about his battle with burnout today. Khan explained some of the reasons burnout can affect women in particular and shared some of the knowledge gleaned from attending two AICPA & CIMA Women’s Global Leadership Summits. He also discussed why having relatively few one-on-one meetings with his boss became a bad thing — and how leaders can make those meetings better. What you’ll learn from this episode: ·         Why Khan wanted to emulate Jay-Z. ·         The CASTLE acronym and it’s tie-in to burnout. ·         Why Khan took one-on-one meetings for granted earlier in his career. ·         The tough questions managers should ask employees in one-on-one meetings. ·         Why the technological disruption in business today is “a time of danger but also a time of opportunity.”  

Hamza Khan believes the four-day workweek to be “an inevitability.” It is the sort of workplace trend that could help to diminish burnout, which is the main topic of this JofA podcast episode with Khan, an author and entrepreneur. This episode is the first of a two-part conversation with Khan, who has given keynote presentations at several AICPA & CIMA events, including the Global Women’s Leadership Summit and the CFO Conference. Khan spoke last year on the JofA podcast about the difference between managing and leading, and he’ll talk on the next episode about how strong leadership should include meaningful one-on-one meetings.

Tom Hood, EVP-Business Growth at AICPA & CIMA, discusses top issues for finance leaders, pre-Internet tech, Future of Finance Leadership Advisory Group, and a bank's apprentice success story. Highlights include cross-industry collaboration, technology evolution for finance leaders, and empowering diversity and upskilling in accounting.

Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development, explains in this JofA podcast episode why finance decision-makers in the first-quarter Business & Industry Economic Outlook Survey are more optimistic now compared with the end of 2023. Witt summarizes the survey results, including CPA decision-makers’ expectations for revenue and profit increases and the top challenges facing them and their businesses. What you’ll learn from this episode: ·         A breakdown of sentiment about the domestic economy and CPA decision-makers’ own organizations. ·         Projected increases in revenue and profits for the coming 12 months. ·         The top challenges facing finance executives. ·         The hiring outlook for the coming year and how it differs by company size.

Exploring the evolution of CFO conferences from virtual to in-person, the shift to hybrid work and cybersecurity challenges, adapting to evolving finance trends, engaging conference speakers and diverse topics. Key issues facing CFOs, conference agenda highlights, and insights on career development for current and aspiring CFOs.

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, returns as a guest on the JofA podcast to update listeners on the focus areas of tax advocacy.   Her team is paying close attention to employee retention credit claims, beneficial ownership information (BOI) reporting requirements, and IRS contingency plans in the event of a government shutdown.   Resources: January advocacy conversation with Lauridsen on the JofA podcast JofA coverage of the federal court opinion holding the Corporate Transparency Act unconstitutional and the appeal of that court decision Tax Section landing page, with extensive resource library on topics mentioned, including resources specific to the employee retention credit What you’ll learn from this episode: ·         Recent developments related to BOI reporting – who has to file reports and who doesn’t. ·         Why BOI reporting often falls to tax practitioners. ·         The differences between BOI requirements and the customer due diligence rule. ·         Why March 22 is important as it relates to government funding. ·         Lauridsen’s analysis of a tax bill now with a congressional committee.

The factors contributing to a decline in the accounting talent pool are many, and so are the strategies to address the issue.  In this podcast episode, Sue Coffey, CPA, CGMA, AICPA & CIMA’s CEO–Public Accounting, explains what early research has shown about why students are showing less interest in accounting. She also details the steps that multiple entities, including the National Pipeline Advisory Group (NPAG), are taking to grow the pipeline. In the interview, Coffey discusses CPA licensure, the 150-hour educational requirement, CPA practice mobility, and other issues important to her and the profession. Resources NPAG survey page: https://www.accountingpipeline.org/survey/ AICPA & CIMA business model transformation tools JofA content: n  Podcast episode with NPAG Chair Lexy Kessler, CPA, CGMA n  Podcast episode with NPAG independent facilitator Jennifer Wilson n  Podcast episode about including accounting in STEM curriculum with Jan Taylor, CPA, CGMA, and Lauren Pfingstag-Vahey n  Article on the formation of NPAG What you’ll learn from this episode: ·         The main goals of the National Pipeline Advisory Group (NPAG). ·         Why the recently released NPAG survey is aimed at current professionals and students. ·         What NPAG research is showing about the reasons for a decline in CPA candidates. ·         Coffey’s response on whether the AICPA is being stubborn about the 150-hour education requirement for CPA licensure. ·         The importance of audit transformation in Coffey’s mind. ·         Some of the regulatory agencies she speaks to as part of advocacy efforts.

Wassia Kamon, CPA, was a featured speaker at the Future of Finance Summit in Orlando late last year, and she joined the JofA podcast from the event to discuss how leaders can overcome their own biases to be more inclusive.   Kamon, vice president of finance at the Low Income Investment Fund in Atlanta, points out that with social media and other commonly used applications, it’s very easy for us to choose our own news, friends, and interest areas — or have algorithms choose the focus areas for us. That can be detrimental to people expanding their understanding of the world and learning about others. Kamon also explains a few types of bias and how they can hold people back, and she explains why it’s important to mix progression planning with succession planning. What you’ll learn from this episode: ·         Why we’re now in the “golden age of self-curation,” according to Kamon. ·         The danger of “blocking people” if you’re in a leadership role. ·         An explanation of implicit bias and status quo bias. ·         The meaning of leading in a “roundabout” way — and how it differs from a “traffic light” approach. ·         How Kamon once reacted when approached by a manager about receiving a promotion. ·         The importance of being “receptive to change.”

Bring together three of the top experts in the accounting technology space, and you’re bound to learn something (often, many things) new. That’s been the premise of the JofA Accounting Technology Roundtable since 2011. It held true again in 2024.  After discussing artificial intelligence and automation in Part 1 of the roundtable, published Wednesday, the three panelists — Automata Practice Development’s Wesley Hartman, IntrapriseTechKnowlogies’ Donny Shimamoto, CPA/CITP, CGMA, and Boomer Consulting’s Amanda Wilkie — turned their attention to several other topics, including one that is new to the roundtable — people tech.  What is people tech and why does Shimamoto think it’s going to be a big deal for accounting firms and finance departments this year and beyond? Find out in this episode. What you’ll learn from this episode: ·         What "people tech" is and why "HR tech" is not an adequate description ·         Ways accounting firms and finance departments can use the technology “for good” ·         Why AI can’t solve all problems, especially within people tech. ·         Why CPAs should be paying more attention to digital assets than blockchain. ·         The type of cybersecurity plan now required for many firms. ·         Where Web 3.0 stands and why it may be a little behind schedule. ·         A simple reminder about taking small steps when implementing technology.

ChatGPT generates most of the headlines, but it’s only a small part of the big picture when it comes to artificial intelligence (AI) in the accounting profession. What is the wider view on AI for accounting firms and finance departments, and how does it all relate to automation making life better for CPAs? Find out from three of the top accounting technology experts in the latest episode of the JofA podcast. Gathered for the JofA’s annual Accounting Technology Roundtable, the panelists — Automata Practice Development’s Wesley Hartman; IntrapriseTechKnowlogies’ Donny Shimamoto, CPA/CITP, CGMA; and Boomer Consulting’s Amanda Wilkie — covered numerous tech topics in a wide-ranging discussion being presented in two parts.  Part 1 features the aforementioned AI and automation discussion. Part 2, scheduled to be published Thursday, delves into topics including “people tech,” blockchain and digital assets, cybersecurity, and more. What you’ll learn from this episode: ·         How generative AI is like auto-complete. ·         What a recent announcement has in store for ChatGPT. ·         How AI has been around longer than you might think. ·         The importance of CPAs partnering with technologists to vet AI algorithms. ·         The different levels of automation and the best opportunities for CPAs.