Blake and David discuss issues relating to the accounting profession's talent pipeline, including a high school student's negative experience in her first accounting class and efforts by state CPA societies to reduce licensing barriers. They move on to tech topics, like the slow adoption of AI tools such as ChatGPT among accountants and new product features announced by Intuit and Xero. Wrapping things up, they share listener feedback on finding resources to learn new accounting software and workflows and provide commentary on app subscription price increases and the...
Blake and David discuss issues relating to the accounting profession's talent pipeline, including a high school student's negative experience in her first accounting class and efforts by state CPA societies to reduce licensing barriers. They move on to tech topics, like the slow adoption of AI tools such as ChatGPT among accountants and new product features announced by Intuit and Xero. Wrapping things up, they share listener feedback on finding resources to learn new accounting software and workflows and provide commentary on app subscription price increases and the need for accountants to price their services properly.
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Chapters- (00:00) - Preview: Accountants need to charge more
- (01:02) - Welcome to The Accounting Podcast : Blake talks to high school senior in an accounting class
- (10:41) - The South Carolina Accociation of CPAs introduces new changes to 150 rule
- (20:02) - Air traffic controllers are understaffed and narrowly avoiding disaster
- (23:51) - The number of EA's in The NAEA is down 23% over the last 5 years
- (26:10) - Comparing air traffic controller shortage to accounting shortage
- (31:26) - Attestation reports are not audits
- (34:09) - Listener mail from a bookkeeper asking for recommendations on how to learn QuickBooks better
- (40:36) - What should firms do when accounting software raise their prices?
- (46:26) - LegalZoom launches LegalZoom Books
- (49:02) - How many Ohio CPAs have tried ChatGPT at all?
- (51:57) - Intuit released their year end earnings
- (55:07) - Some new Xero AI news & Xerocon is back in the US for 2024
- (59:15) - Relay ups FDIC insurance to $2.5 million and Stripe offers sales tax calculations
- (01:01:25) - Wrap up and where to reach us
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Show Notes
Product wrap from Xerocon Sydney 2023 | Xero Blog
https://www.xero.com/blog/2023/08/product-wrap-from-xerocon-sydney-2023/
150 Hours is a Barrier – Really! - Going Concern
https://www.goingconcern.com/150-hours-is-a-barrier-really/
Jacob Schroeder: 86% of OSCPA Town Hall attendees have not used ChatGPT at all
https://x.com/jacobbschroeder/status/1694748226904060157?s=12
SCACPA Proposing Legislation to Address Pipeline Challenges – SCACPA
https://www.scacpa.org/scacpa-proposing-legislation-to-address-pipeline-challenges/
Airline Close Calls Happen Far More Often Than Previously Known
https://www.nytimes.com/interactive/2023/08/21/business/airline-safety-close-calls.html
Please join the Arizona State Society of Enrolled Agents “Town Hall”
https://aztaxpros.org/images/meeting/082323/Town_Hall/azsea_invite_to_town_hall_on_aug_23__2023.pdf
Question from a bookkeeper
https://www.linkedin.com/feed/update/urn:li:activity:7094151084134338560/
Upcoming changes to QuickBooks Desktop pricing + FAQs
https://www.firmofthefuture.com/product-update/quickbooks-desktop-pricing-changes/
Dext pricing change from today
https://www.accountingweb.co.uk/any-answers/dext-pricing-change-from-today
Introducing Ramp Plus
https://ramp.com/blog/introducing-ramp-plus
Fintech Ramp is Raising Capital at $5.5 Billion Valuation, Down 30%
https://www.theinformation.com/articles/fintech-ramp-is-raising-capital-at-5-5-billion-valuation-down-30
Accountants face up to the cost of cloud app stacks
https://www.accountingweb.co.uk/tech/tech-pulse/accountants-face-up-to-the-cost-of-cloud-app-stacks
Stripe Unveils “Tax for Platforms” to Streamline Tax Compliance for Small Businesses
https://smallbiztrends.com/2023/08/stripe-unveils-tax-for-platforms-to-streamline-tax-compliance-for-small-businesses.html
Intuit (INTU) Q4 2023 Earnings Call Transcript
https://www.fool.com/earnings/call-transcripts/2023/08/24/intuit-intu-q4-2023-earnings-call-transcript/
Why Students Opt for Accounting (or Don’t)
https://cpatrendlines.com/2023/08/20/why-students-opt-for-accounting-or-dont/
CPA Exam Changes and Pipeline Woes Are a Perfect Storm of Problems For the Profession
https://www.goingconcern.com/cpa-exam-changes-and-pipeline-woes-are-a-perfect-storm-of-problems-for-the-profession/
Stop calling them audits
https://blockworks.co/news/blockchain-audits-ey
FTX Bankruptcy Burning Through $1.5M in Legal Costs Every Day
https://www.coindesk.com/policy/2023/08/23/ftx-bankruptcy-burning-through-15m-in-legal-costs-every-day/
150 Hours is a Barrier - Really!
https://www.goingconcern.com/150-hours-is-a-barrier-really/
SCACPA Proposing Legislation to Address Pipeline Challenges – SCACPA
https://www.scacpa.org/scacpa-proposing-legislation-to-address-pipeline-challenges/
Xerocon Returns to the US
https://www.intuitiveaccountant.com/education-hub/training-center/xerocon-returns-to-the-us/
Get in Touch
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