Journal of Accountancy Podcast

Seeing the future: 4 CPA leaders look ahead to 2025 Dec 19, 2024

Last week in San Diego, a group of 165 finance leaders convened for the fourth Future of Finance Summit. This JofA podcast episode is a compilation of takeaways from the event and a look at key areas of focus for leaders in 2025. It is the first of several Future of Finance recordings.

The speakers for this episode are:

n Tom Hood, CPA/CITP, CGMA, AICPA & CIMA's executive vice president–Business Growth & Engagement

n Kimberly Ellison-Taylor, CPA, CGMA, the CEO of KET Solutions and former AICPA chair

n Becca Shane, CPA, CGMA, the CFO of Blue Marlin Ventures

n Okorie Ramsey, CPA, CGMA, vice president–Sarbanes Oxley at Kaiser Permanente and former AICPA and Association of International Certified Professional Accountants chair

What you’ll learn from this episode:

· More about Tom Hood's summation that the event "leveled up."

· The top priorities of finance leaders, based on polling last week at the Future of Finance Summit.

· Why Kimberly Ellison-Taylor says she’s looking forward to “clarity” in 2025.

· Why the phrase “feed forward” and an emphasis on positivity resonated with CFO Becca Shane.

· Okorie Ramsey's focus on the talent pipeline and relevance.

· His explanation of the profession’s need to “tell a better story.”

Farewell Q&A as CEO: Melancon talks retirement, passion for profession Dec 12, 2024

It’s no secret anymore: Barry Melancon, CPA, CGMA, is retiring as CEO of AICPA & CIMA. He was first named CEO of the AICPA nearly 30 years ago, and he leaves the now global organization with a legacy of change. His last official day is Dec. 31, and Mark Koziel, CPA, CGMA, is his successor.

In this episode of the JofA podcast, recorded earlier this week at Digital CPA in Denver, Melancon explains why he’s not counting down the days of his tenure, why there likely will be more recreation in his future, and why he expects he will “still wake up every day and think about the profession.”

What you’ll learn from this episode:

· Why Melancon hasn’t been counting the days until his tenure as CEO ends.

· His “stellar” assessment of how he will transition into retirement.

· His relationship over the years with incoming CEO Mark Koziel, CPA, CGMA.

· The “unsettled” nature of the world and how accountants can help.

· Why Melancon prioritized the profession and the members before thinking of the organization.

· The “humbling” messages he has received.

A change in optimism about the US economy Dec 05, 2024

The potential for less regulation is one factor driving optimism among CPA decision-makers in a quarterly survey, according to Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development.

Witt joined the JofA podcast to discuss fourth-quarter results of the Business and Industry Economic Outlook Survey — statistics that were dramatically different from the third quarter.

The executives are mostly optimistic about the domestic economy in 2025. They also have a brighter outlook as it relates to their own organizations, although that increase since the third quarter was more muted.

What you’ll learn from this episode:

A breakdown of the quarter-over-quarter change in optimism.
What challenge returned to its familiar top spot in this quarter’s survey.
The reasons that optimists and pessimists feel the way they do, according to Witt’s analysis.
The hiring outlook for 2025.

2025 tax preview: Perspective from an AICPA tax policy advocate Nov 21, 2024

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, reflected on how election results might inform future tax legislation and why any change in administration and tax policy can make it more difficult for practitioners seeking clarity.

Lauridsen also discussed advocacy related to beneficial ownership information (BOI) reporting and what might change related to IRS funding, the corporate tax rate, and more in this episode of the Journal of Accountancy podcast.

What you’ll learn from this episode:

· An update on AICPA advocacy related to BOI reporting relief.

· Why Lauridsen expects any changes to the expiring provisions of the Tax Cuts and Jobs Act (TCJA) to be “hybrid” — as opposed to all TCJA provisions becoming permanent.

· Discussion about the future of the deduction limit for state and local taxes, aka the SALT cap.

· The fate of IRS funding from the Inflation Reduction Act — and why a “rebalance” might be possible.

· Lauridsen’s summation that 2025 “is a huge tax year.”

Future leaders, be advised: ‘What got you here … won’t get you there’ Nov 14, 2024

Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, understands why accounting skills are often ranked outside the top five of key skills in informal polling of finance audiences.

“It’s not because they're less important, but because the other skills are more important,” Hood said.

The core requirements remain, but the ability to adapt and add new skills has grown in importance with the pace of transformation accelerating.

In this episode of the JofA podcast, Hood expands on some recent themes of his travels and what he looks forward to from the Future of Finance Summit in December.

What you’ll learn from this episode:

· Why mindset is more important in transformation than the toolset of technology.

· Details of a recent report about skills from the Pennsylvania Institute of CPAs.

· The skills that rank ahead of the “table stakes” of technical accounting skills.

· Why it’s important to “grab these new skills.”

· The new way that Future of Finance Summit attendees will get a summary of the event.

Driving better savings discipline and loving the work you do Nov 07, 2024

Stig Nybo is not afraid to admit that he’s made mistakes. He’s also happy to have been part of a movement that improved the thinking around retirement savings.

Nybo, a keynote speaker at the Employee Benefit Plans Accounting, Auditing, and Regulatory Update, a Dec. 4-5 virtual event, co-wrote the book Transform Tomorrow: Awakening The Super Saver in Pursuit of Retirement Readiness.

In this episode of the JofA podcast, Nybo talks about finding passion at work, why attempts to fix things can lead to breaking other things, and the “entire ecosystem” that’s aiming to drive better retirement-savings habits.

What you’ll learn from this episode:

· The circumstances that led to Nybo co-authoring a book emphasizing saving for retirement.

· The 2019 JofA podcast guest that Nybo interviewed for his book.

· Why his message is about more than saving, creating retirement plans, or auditing such plans.

· Why he agrees with the words of Mark Twain when it comes to career choice.

· The issues Nybo and others aimed to fix related to retirement saving – and what got “broken” in that process.

How auditors can demystify transformative technology Oct 31, 2024

Digital disruption is everywhere, including in the practice of internal audit. An audit leader joined the JofA podcast recently to discuss how technology can be harnessed instead of feared or resisted.

Anthony Pugliese, CPA/CITP, CGMA, president and CEO of The Institute of Internal Auditors (IIA), said it is understandable for fast-moving technology to be daunting. But such technology presents opportunities as well as risks. One tie-in is the new tools’ ability to attract the next generation of talent for auditing.

In this episode, Pugliese reviews recent IIA research, reminds auditors about the importance of curiosity, and discusses some of the misconceptions facing the profession.

What you’ll learn from this episode:

· Highlights of recent research by The IIA about top risks.

· Some of the “misconceptions” about internal auditing, according to Pugliese.

· How the “slow trek” of blockchain integration into processes differs from today’s tech implementations.

· The “most golden thing” auditors can do.

· A reminder of the timeline for adoption of international auditing standards.

Advice for future CFOs: One communication skill that sets you apart Oct 24, 2024

Scott Simmons is co-managing partner at the firm Crist Kolder Associates. In more than two decades handling executive searches for clients, he’s seen the qualifications for the CFO role change dramatically. The pressure on CFOs to deliver value has also grown. While some skills remain constant, of course, so do the paths to landing a CFO role.

In this JofA podcast episode, Simmons takes listeners through some of the recent statistics in the firm’s annual Volatility Report, discussing the importance of escaping one’s comfort zone and developing new skills to be in line for a job as finance chief.

What you’ll learn from this episode:

The number of CFOs at larger companies who have Big Four accounting backgrounds.
The companies and C-suite positions Crist Kolder tracks in its annual Volatility Report
How candidates can develop CFO skills without first becoming a CFO.
Why an investor relations rotation should be something aspiring CFOs “jump” to accept.
The major college athletics conference that has produced the most CFOs in companies tracked in by Volatility Report.

Analysis, clarity, and a quiz: A preview of the National Tax Conference Oct 17, 2024

In less than four weeks, IRS officials and tax practitioners will gather in Washington for the AICPA & CIMA National Tax Conference. The event begins six days after Election Day, when it’s possible there will be clarity about election results and about the future of tax legislation.

On this episode of the podcast, two speakers closely tied to the conference explain what it will offer attendees, detailing agenda specifics. April Walker, CPA, CGMA, is lead manager–Tax Practice & Ethics at AICPA & CIMA, and Brandon Lagarde, CPA, J.D., LL.M., is chair of the event’s planning committee. Walker hosts the Tax Section Odyssey podcast.

Also, a new AICPA & CIMA CEO was named Wednesday. That news is mentioned at the start of the episode.

What you’ll learn from this episode:

· What Lagarde and Walker look forward to about this year’s conference.

· The potential for learning more during the conference about the future of the Tax Cuts and Jobs Act.

· The reasons Lagarde called the event “the most important conference” for tax practitioners.

· A look ahead to a session on transforming tax practices to include year-round advisory services.

· The topics in a quiz-focused session on tax ethics.

· Why Lagarde says attendees shouldn’t worry about attending one concurrent session over another.

The value of connection: Reflections of an advocate for women Oct 03, 2024

Alicia Antonetti-Tricker, a principal at Crowe LLP, remembers a time when she saw very few women in leadership roles in the accounting profession. Whether barriers were real or perceived, she said, “there were barriers for women advancing in the profession.”

Today, that’s changing, and events such as the AICPA & CIMA Women’s Global Leadership Summit, which is in November in Bellevue, Wash., have helped to continue the momentum for women ascending to accounting leadership roles.

In this podcast episode, Antonetti-Tricker discussed highlights of a session she took part in last year, one she says typifies the summit’s agenda. She also touched on some of the initiatives Crowe has put in place and why finding advocates and allies is important for women to continue to advance to leadership roles.

What you’ll learn from this episode:

· What stuck out to Crowe’s Alicia Antonetti-Tricker about meetings nearly 30 years ago.

· The value of powerful connections in helping to grow the number of women in leadership roles in the profession.

· A look back at a session that is typical of the AICPA & CIMA Women’s Global Leadership Summit.

· A by-the-numbers look at progress made related to women in leadership positions.

· Why Antonetti-Tricker keeps coming back to the summit.

Never give up: A CFO tackles tech implementation and triathlons Sep 26, 2024

Becoming a CFO isn’t easy. Neither is completing an iron-distance triathlon. Janice Stucke, CPA, is doing both, and she relies on accounting skills to improve in triathlon and applies triathlon persistence to her role as finance chief.

Stucke is the CFO of CREW Network, the acronym standing for Commercial Real Estate Women. In this JofA podcast episode, Stucke shares her somewhat unconventional path to becoming a CPA, how she developed interest and expertise in technology implementations, and how she has dealt with panic-inducing moments.

What you’ll learn from this episode:

· Stucke’s nontraditional path to becoming a CPA.

· What “your comfort zone will kill you” means for Stucke, who is preparing to compete in a 140.6-mile Ironman triathlon: 2.4-mile swim, 112-mile bike, and 26.2-mile run.

· How Stucke has navigated fear and anxiety before and during competitions.

· Time management and other prioritization advice.

· Details on the spring 2025 CFO Conference.

JofA highlights: Tackling accounting’s talent shortage, ChatGPT tips Sep 19, 2024

Jeff Drew, the JofA’s editor-in-chief, is the guest on today’s episode, the 400th in the history of the JofA podcast. He’s recapping for listeners some of the top articles of the summer and looking ahead to content in future issues.

Drew, a former JofA senior editor and manager with the AICPA's Private Companies Practice Section, has focused on content for the daily and monthly magazines for more than a decade.

He reviews or previews coverage on numerous topics, including the retirement of AICPA & CIMA CEO Barry Melancon, CPA, CGMA.

Resources

September JofA: HTML version | Flipbook

Articles (HTML links)

How academia is tackling the accounting talent shortage

Rewriting accounting’s employment narrative

Taxation of influencers: Gifts with strings attached?

Using ChatGPT-4o with Excel

Using ChatGPT to build a standard operating procedure

Summer feature articles

· Single-owner firms: The thrill of flying solo

· What not-for-profits need to know about UBIT

· How CPAs can benefit from not-for-profit board service

· Guiding not-for-profits through post-pandemic challenges

· What to know to avoid deficient not-for-profit audits

Technology Q&A

· How to find errors in Excel formulas

· How to create a watermark in Excel

· Identify and delete duplicates in Excel

· Get more out of Teams with these 5 features

· 4 features for enhancing PDFs

· Building an HR guide with ChatGPT

Professional Liability Spotlight

IRS funding and a potential rise in malpractice claims

Issue links:

August HTML | Flipbook

July HTML | Flipbook

June HTML | Flipbook

Podcast episodes:

Barry Melancon part 1

Barry Melancon part 2

If you have article ideas or other magazine feedback, you can reach Drew at Jeff.Drew@aicpa-cima.com.

What you’ll learn from this episode:

· The “incredible range of backstories” in an article focusing on sole practitioners and sole proprietors.

· The focus of several recent Technology Q&A articles.

· Highlights of a summer Professional Liability Spotlight article.

· The link between Barry Melancon and Muhammad Ali.

· A preview of the October digital edition of the JofA.

AICPA chair: Why change is good, and needed, for the profession Sep 12, 2024

Carla McCall, CPA, CGMA, managing partner of the firm AAFCPAs, began her one-year term as AICPA chair in May. In this JofA podcast episode, she said that “whirlwind” was a good description of the first few months in the role, “but in a good way.”

“If you truly love what you do, somehow it doesn't seem so arduous and it goes by real quick,” McCall said, labeling interactions with numerous people in the profession as “rewarding.”

In this episode, McCall reflects on what she’s learned about herself, why her firm has benefited from her “front-row seat,” and her message to accountants about doing their part to grow the talent pipeline.

Resources

n McCall’s June 2023 appearance on the show

n More about McCall’s points of emphasis as AICPA chair and AICPA & CIMA co-chair

What replaced inflation as the top challenge for finance leaders Sep 05, 2024

Ken Witt, CPA, CGMA, AICPA & CIMA associate director – Management Accounting Research and Development, discusses in this JofA podcast episode the reasons that finance executives in a quarterly AICPA & CIMA survey continue to lower their optimism about the U.S. economy.

He also reveals what CPA decision-makers now view as their organization’s top challenge. For the first time in a long time, it’s not inflation.

On the episode that detailed the previous quarter’s survey, Witt noted that inflation “seems to be settling out a little bit.” This quarter’s survey data shows that was an accurate assessment, as inflation concerns are diminishing somewhat.

What you’ll learn from this episode:

· Details about Witt’s assessment of this quarter’s results as “interesting.”

· The surprising parts of the third-quarter data.

· Updated projections for revenue and profits in the coming 12 months.

· How election-year uncertainty is affecting CPA decision-makers’ business forecasting efforts.

· The percentage of finance executives who say that a potential lowering of the federal funds rate would have a favorable impact on their business.

Chasing the right things: Keynote speaker’s keys to contentment Aug 29, 2024

In about two months, Corey Ciocchetti will deliver a keynote session at the AICPA & CIMA Governmental and Not-for-Profit Training Program. He previewed that session in this episode of the Journal of Accountancy podcast.

In the conversation, Ciocchetti discusses how he chose what law school to attend, why his more recent presentations mention the importance of civil discourse, and what he remembers about a speech by the founder of a prominent mutual fund company.

What you’ll learn from this episode:

· Why he thinks people have a hard time prioritizing friendships and pursuing a sense of contentment.

· His decision on where to attend law school and that decision’s link to a different keynote speaker at an AICPA & CIMA event.

· What the phrase “real rabbits” means to Ciocchetti.

· Ciocchetti’s recall of one early student interaction that changed how he viewed audience engagement.

Potential effects of Loper Bright and Corner Post on tax practitioners Aug 22, 2024

On this episode of the JofA podcast, Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, explains some of the tax-related repercussions of recent Supreme Court decisions. One case could have a dramatic effect on future rulemaking, and the other could have a decades-long retroactive effect.

On June 28, the Supreme Court overturned its decision in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984), holding that the Administrative Procedure Act (APA) requires courts to exercise their independent judgment in determining the meaning of statutory provisions, and courts may not defer to an agency's interpretation of the law just because a statute is ambiguous (Loper Bright Enterprises v. Raimondo, No. 22-451 (6/28/24)).

On July 1, the Supreme Court decision expanded the time frame to sue federal agencies, holding that the six-year statute of limitation for lawsuits challenging regulations does not start to run until a plaintiff is injured by final agency action (Corner Post, Inc. v. Board of Governors of the Federal Reserve System, No. 22-1008 (7/1/24)).

What you’ll learn from this episode:

· Background on the Loper Bright and Corner Post decisions.

· Why Lauridsen said that one of the rulings was unexpected.

· Why Sec. 6045 broker regulations could now be “vulnerable.”

· The reasons that, according to Lauridsen, the Loper Bright decision will not likely affect beneficial ownership information reporting requirements.

· How legislators on Capitol Hill have reacted to the decisions.

Lessons learned, future in focus: Melancon looks back and ahead Aug 15, 2024

Barry Melancon, CPA, CGMA, was named the leader of the AICPA when he was in his mid-30s. Now, in his final months as CEO of AICPA & CIMA, he discusses the events that challenged the profession, risks that could be obstacles in the future, and why he’s optimistic about the role accountants play.

In this conversation, the second of two parts, Melancon challenges the notion that the profession is slow to change, explains why trust will continue to be important, and emphasizes the importance of speed and competencies in continuing to evolve.

Listen or read part 1 here.

What you’ll learn from this episode:

· A quick summary of the topics in part 1 of the conversation.

· Why Melancon believes the word “passion” would be used to describe him.

· What Melancon called “the most tumultuous period” of his career and how he viewed the profession’s emergence from that era.

· Why speed will be important in the continued transformation of the accounting profession.

· His thoughts on the “competency evolution” of accountants just entering the profession.

· Melancon’s contention that it’s “naïve” to think artificial intelligence will not affect jobs.

A matter of trust: Melancon reflects on nearly 30 years as CEO Aug 08, 2024

Barry Melancon, CPA, CGMA, was named leader of the AICPA when he was in his mid-30s. Now, in his final months as CEO of AICPA & CIMA, he discusses his background and upbringing, his unlikely path from rural Louisiana to speaking to leaders around the world, and why he puts extra emphasis on trust.

Part 2 of the conversation, recorded in July, will be published next week. Below are links to the previous two-part discussion with Melancon, episodes that were published in December and January:

n News and trends affecting CPAs

n Business model transformation, private equity, and more

What you’ll learn from this episode:

· More from Melancon about what he calls “a great journey.”

· His assessment of how the profession has changed since the mid-1990s.

· Some of the skills learned during his tenure as CEO.

· Why he says the world is “devoid of trust.”

· A preview of topics discussed in Part 2 of the conversation, scheduled to publish next week.

‘Time is of the essence’: Next steps after the NPAG report release Aug 01, 2024

The National Pipeline Advisory Group published its final report on talent solutions for the accounting profession, and the group’s chair, Lexy Kessler, CPA, CGMA, joins the Journal of Accountancy podcast to hit on the high points.

Kessler is AICPA vice chair and also mid-Atlantic leader for the firm Aprio.

In this episode, she shares next steps for the profession.

What you'll learn from this episode:

An overview of the six major themes of the report.
How a “plethora of perspectives” came together to address solutions for the pipeline issue.
Details about addressing the time and cost of education.
An explanation of the three E’s that represent the components of CPA licensure.
What’s next as the recommendations move from paper to practice.
How CPAs and educators can take the Pipeline Pledge.

Tech adoption at light speed: Balancing euphoria with cynicism Jul 25, 2024

Tom Vartanian, executive director of the Financial Technology & Cybersecurity Center, joined the JofA podcast recently to discuss concerns about the rapid pace of technology adoption. Although he sees the benefits technology has had, he also sees drawbacks.

“It's not that we shouldn't have technology, it’s not that we shouldn’t applaud tecnology,” Vartanian says in the episode. “It's just that our balance is off.”

Vartanian, a former federal banking regulator and the author of nine books, is a keynote speaker Sept. 9 at the AICPA & CIMA Conference on Banks & Savings Institutions, which is co-located with the AICPA & CIMA Conference on Credit Unions.

What you’ll learn from this episode:

Why Vartanian senses “irrational” euphoria about rapid technology advances.
The speaker’s reminder about the original, limited purpose of the internet.
Details on the assertion of “going back to fundamentals” when it comes to cybersecurity.
The difference in approach between a regulated bank and a third-party service provider.
The value of strong leadership in mitigating cybersecurity concerns.

What is cannabis rescheduling? And how might it affect CPAs? Jul 18, 2024

The AICPA & CIMA Cannabis Industry Conference starts Aug. 12 in Aurora, Colo. Rachel Gillette will be one of the event’s front-and-center speakers and moderators.

Gillette joined the Journal of Accountancy podcast recently to discuss some of the trends and issues affecting the industry from a legal and regulatory perspective. Gillette, a Denver-based attorney, also explained how she ended up in this niche practice area.

What you’ll learn from this episode:

· Background on the proposed rescheduling of cannabis and why it matters for the industry and for accountants who advise cannabis businesses.

· Gillette’s opinion of what might happen with cannabis-related legislation.

· Why potential cannabis rescheduling could mean that certain businesses are no longer subject to Sec. 280E.

· How the potential changes could affect CPAs.

· What Gillette looks forward to about the AICPA & CIMA Cannabis Industry Conference.

· How a decision more than 15 years ago led Gillette to her current area of legal practice.

How tax practitioners viewed filing season, plus ERC and BOI updates Jul 11, 2024

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, joined the Journal of Accountancy podcast earlier this month to discuss the latest developments related to several items of note for tax practitioners.

Lauridsen shared data from a survey of members about IRS performance during tax filing season. She also analyzed recent IRS proposed regulations related to interest recapture on excess COVID-19 credits.

In her previous podcast update, Lauridsen focused on IRS data related to its performance during filing season. Lauridsen said that detailed information will be coming soon on the Tax Section Odyssey podcast related to the employee retention credit.

What you’ll learn from this episode:

· Updates related to employee retention credit (ERC) claims.

· Why ERC claims labeled “medium-risk” by the IRS are on hold.

· Lauridsen’s analysis of proposed regulations released by the IRS earlier this month.

· The focus of a Maryland opinion on beneficial ownership information (BOI) reporting requirements.

· The “awareness issue” related to BOI reporting.

· Why Lauridsen said that the sentiment of tax practitioners is not in alignment with that of the IRS when it comes to IRS performance during filing season.

· The “safe harbor” that could be offered by a congressional bill.

· Updates on AICPA advocacy work with several entities.

Analyzing Moore: The ruling that upheld the Sec. 965 transition tax Jul 02, 2024

Tony Nitti, CPA, discusses a recent U.S. Supreme Court decision that some observers viewed as having the potential for wide-ranging changes in tax law. In the end, the decision was a narrow one, but the details of what was addressed and what wasn’t make for an interesting conversation on this collaborative podcast episode.

Nitti, partner–National Tax at EY, joins April Walker, CPA, CGMA, lead manager–Tax Practice & Ethics at AICPA & CIMA, for this episode, jointly produced by the JofA and the Tax Section Odyssey podcast.

On June 20, the Supreme Court upheld the constitutionality of the Sec. 965 transition tax in a narrow opinion that applies only to passthrough entities (Moore, No. 22-800 (U.S. 6/20/24)). The Court found it was not required to address whether it is a constitutional requirement that income must be realized before it can be taxed.

Nitti and Walker discussed the ruling in a late June recording.

Resources:

n The unabridged version of the Walker and Nitti conversation on the Tax Section Odyssey page.

n Journal of Accountancy news coverage of the June 20 Supreme Court ruling.

n A November 2023 conversation about the Moore case.

What you’ll learn from this episode:

· Details of the Supreme Court vote and the facts of the Moore case.

· Why Nitti said that an expected “showdown” didn’t happen.

· What Nitti observed about the case from its oral arguments in late 2023.

· How the case could open up further discussion on the taxation of unrealized gains and the constitutionality of a wealth tax.

· The value, in Nitti’s eyes, of reading the dissenting opinions.

Longtime CPA leader: ‘An amazing time to be in the profession’ Jun 26, 2024

Calvin Harris, CPA, knew he wanted to be an accountant well before he got to college. He had several mentors who helped him make that decision. It’s one reason he believes that accountants need to reach students early and tell a better story about the profession.

Harris was first on the JofA podcast in February 2022, when he was CFO of the National Urban League. Today, he’s CEO of the New York State Society of CPAs and keenly aware of some of the profession’s issues related to available talent.

He discussed some of the ways accountants can help attract candidates to the profession and commented on the draft recommendations in the recently published report by the National Pipeline Advisory Group.

What you’ll learn from this episode:

How technology has energized Harris and how it’s empowering young CPAs.
How Harris’s mother, a former high school teacher, influenced his career choice.
The crucial role diversity and inclusion can play in the future of the profession, according to Harris.
Why telling a better story — and telling it early and often — is a must to address accounting pipeline concerns.
How Harris, later in life, added the New York City Marathon to his list of accomplishments.

Parting thought from ENGAGE: Don’t let tech changes overwhelm you Jun 20, 2024

Byron Patrick, CPA/CITP, CGMA, took time from his schedule during AICPA & CIMA ENGAGE a few weeks back to join the JofA podcast.

Patrick, recently named CEO at a startup company, has been a regular on the show over the years, talking mainly about technology topics. He continued that theme in this episode, discussing artificial intelligence, how the roles of chief technology officer and chief information officer have changed over the years, and why accounting professionals shouldn’t feel overwhelmed by all the tech-focused changes taking place.

Also, click here for the podcast episode from nearly five years ago in which Patrick discussed the use of emojis in email.

What you’ll learn from this episode:

Why Patrick calls ENGAGE “the premier event of the year.”
Details about the AICPA and CPA.com Startup Accelerator.
A summary of key messages and themes from a technology-focused ENGAGE session.
Patrick’s advice for fellow accountants who might feel overwhelmed by the speed of technology-based changes.

Quality management: Details of a standard-setting journey Jun 13, 2024

Sara Lord, CPA, is chair of the Auditing Standards Board (ASB), which recently issued a new standard that completes the suite of quality management standards ahead of an important implementation deadline in late 2025.

Lord, who discussed advice for firms on implementing the standards on a JofA podcast episode in 2022, joined the show again last week to talk about the end of a journey.

In this episode, Lord details the terminology changes made official by the ASB’s May 14 vote.

In the conversation, there is a mention of the standard being available sometime in June. Since recording, the link has gone live and is available here: Statement on Standards for Attestation Engagements No. 23.

What you’ll learn from this episode:

· An explanation of the changes implemented by the ASB in a May vote.

· Why the May vote marks “the end of a standard-setting journey.”

· Why Dec. 15, 2025, is an important date for implementation of the standards.

· Implementation guidance, including where to find resources.

· The sense of “rejuvenation” Lord feels each year at ENGAGE.

Small ‘signs of strength’ despite continued concern about inflation Jun 06, 2024

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 second-quarter Business and Industry Economic Outlook Survey are less optimistic now compared with the first quarter.

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:

· Why Witt says the outlook this quarter is “mixed.”

· An overview of respondents’ sentiment about the domestic and global economies.

· The “signs of strength” in KPIs, including revenue and profit projections for the next 12 months.

· One metric that Witt will monitor in the third-quarter survey results.

AICPA & CIMA CEO search: Details from the selection committee chair Jun 06, 2024

Anoop Mehta, CPA, CGMA, is the chair of the selection committee that will choose the next AICPA & CIMA CEO. Mehta, a former AICPA chair and Association of International Certified Professional Accountants chair, discussed the qualities the organization seeks in its next leader, a planned timeline for the selection committee, and the importance of knowledge transfer.

The CEO chosen will replace Barry Melancon, CPA, CGMA, who on May 22 announced his retirement, effective at the end of the year.

Mehta, who recorded the episode at AICPA & CIMA ENGAGE, also shared why he thinks prospective CPAs should attend the annual event in Las Vegas and why he expects to continue meeting with accounting students.

Resource: AICPA & CIMA CEO job description

What you’ll learn from this episode:

· A planned timeline for hiring the next CEO.

· The qualities being sought in the next leader.

· Mehta’s explanation of how a strong leader can balance openness to hearing others’ perspectives with making an unpopular decision.

· The importance of the Association chair and co-chair in the selection process.

· The state of talent development and why Mehta says he gets “energized.”

More than coffee and LinkedIn: ‘You never know who you might inspire’ May 29, 2024

Trisha Nomura, CPA, CGMA, and Abel Soares III, CPA/PFS, don’t live far from each other, but they didn’t know the other’s story until Soares was featured in an AICPA & CIMA Member Spotlight Series video.

They joined the JofA podcast recently to discuss how connecting has led to mutual admiration — and opened up new ideas for mentoring. The episode is in recognition of Asian American Native Hawaiian/Pacific Islander (AANHPI) Heritage Month and intended to celebrate the diverse voices of the profession.

Resources

n AICPA & CIMA home page for diversity, equity, and inclusion

n Full index of the Member Spotlight Series focused on diverse voices:

What you’ll learn from this episode:

· How Nomura and Soares learned that they were essentially neighbors.

· The background of each CPA and why it matters — particularly this month.

· Their advice for fellow accountants on being more entrepreneurial.

· The inspirational emails Nomura has received after speaking to students about accounting.

· Why Soares wanted to go “beyond the numbers” with his firm’s focus.

· Their ideas for helping to grow the profession.

Maximizing the ENGAGE experience: A co-chair’s guidance May 23, 2024

Marty Finn, CPA/PFS, J.D., LL.M., is an ENGAGE co-chair, focusing on tax, personal financial planning, and estate planning topics for the event, which begins June 3. Finn got his start on conference committees after meeting Sid Kess, a legendary tax practitioner and mentor who died in September at age 97.

The advice of Kess has stuck with Finn, and Finn believes that an emphasis on top-notch speakers and topics is what has made ENGAGE and its predecessor events valuable to CPAs for years.

Resources:

ENGAGE registration information and agenda
A remembrance of Sid Kess, by Andrea Millar, CPA/PFS
“Summing Up Sid” podcast episode from September
Longtime AICPA CEO Barry Melancon announces his retirement

What you’ll learn from this episode:

First, a word on the news of the week: AICPA CEO Barry Melancon announces plan to retire.
Melancon is scheduled to be at ENGAGE, a signature AICPA event that Finn looks forward to each year.
Finn’s explanation of the Sid Kess Rule.
The topics that are expected to be addressed in a panel discussion that Finn will moderate.
The importance of, and timeline for, the sunset of several key provisions of the legislation known as the Tax Cuts and Jobs Act.
Why Finn says that the opportunities for tax-focused CPAs in the area of advisory services will continue to grow.
One last bit of Kess advice for getting the most out of conference attendance.

Why the SEC climate rule deserves CPAs’ attention May 16, 2024

Ami Beers, CPA, CGMA, senior director–Assurance & Advisory Innovation for AICPA & CIMA, joins the JofA podcast for this episode to guide CPAs on how to approach the new SEC rule on climate-related disclosures.

The SEC adopted the rule March 6. But, about a month later, it put a stay on the rule’s implementation, in response to multiple legal challenges to the rule. Some argued that the SEC overstepped its authority, and others said the SEC didn’t do enough.

Either way, it’s likely the rule will affect corporate reporting going forward, despite the lack of clarity now. Beers explains that and more, underscoring the importance of not waiting to understand the rule.

Resources

n May 23 webinar mentioned by Beers

n AICPA and Center for Audit Quality summary document

n JofA March 6 article on rule adoption

n JofA March 14 need-to-know summary

What you’ll learn from this episode:

· Ami Beers’ rundown of the recent timeline of sustainability reporting and the SEC’s adoption of its rule on climate-related disclosures.

· What the data, in multiple surveys from the AICPA and the International Federation of Accountants, shows about companies’ reporting on climate information.

· What’s next regarding the legal challenges affecting the rule.

· Why Beers said “there’s a lot to unpack” regarding the rule.

· Why, despite legal hurdles, Beers believes the rule should remain on CPAs’ radar.

· The importance of legislation in the European Union and California on climate-related reporting.

After April 15: Top-of-mind tax advocacy topics, including the ERC May 09, 2024

Tax filing season can be a marathon, or it can be a sprint to the finish. Either way, the collective sigh of relief is real. Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, reflected on the last filing season and addressed advocacy items to watch in this episode of the Journal of Accountancy podcast.

Lauridsen, in her third tax advocacy update of 2024, discussed the latest on employee retention credit (ERC) claims, including an eye-popping cost estimate. She also shared advocacy updates and looked ahead to the rest of 2024.

In her previous podcast update, Lauridsen focused on clearing up confusion related to beneficial ownership information reporting.

What you’ll learn from this episode:

· The comparison of tax season to a two-hour marathon.

· Why this was the first tax season in many years with “a smooth runway” for filing.

· Lauridsen’s reaction to the comment by IRS Commissioner Danny Werfel about receiving 20,000 ERC claims per week.

· Advocacy topics of note for this year and beyond.

· Lauridsen’s analysis of a tax bill now in the Senate.

· Why it is nearly guaranteed that tax changes are coming, even if the current bill never makes it out of committee.

How AI can drive a proactive approach to corporate finance May 02, 2024

Roger Kenyanya, vice president of finance at home improvement store Lowe’s, took part in the inaugural AICPA and CPA.com AI Symposium about three months ago in New York. Why did he refer to the event as a “humbling, full-circle moment” in a LinkedIn post? Find out on this episode of the JofA podcast.

Kenyanya, a member of the Future of Finance Leadership Advisory Group, shares how both the finance function and overall business are harnessing the power of AI. He also details his career journey and notes how the skill sets of next-generation finance employees will change.

What you’ll learn from this episode:

· The “significant milestone” in Kenyanya’s career — in his junior year of college.

· Kenyanya’s path to his current role as a finance leader at Lowe’s.

· His takeaways from a January symposium about AI.

· Some of the ways AI is being harnessed at Lowe’s.

· How the skill set for tomorrow’s finance employees is changing and the three-pronged focus of that shift for Kenyanya and Lowe’s.

· The peer “platform to collaborate” that Kenyanya said is valuable.

How accountants can appropriately rely on AI Apr 25, 2024

Danielle Supkis Cheek, CPA, vice president and head of Analytics & AI for Caseware, had an interesting way to continue her exploration of the ethics of using AI tools in accounting: She asked ChatGPT to give her an answer.

The response helped in her assessment of such tools. She shared more about that result — and answered our questions — in this episode of the JofA podcast.

What you’ll learn from this episode:

· What a well-known generative AI tool had to say about the risks of using large language models in accounting.

· The surprising thing an early version of ChatGPT said about Supkis Cheek.

· The top-of-mind AI ethics concerns for the accounting profession.

· How the development of smaller-scale language models, with accounting specifics, can improve confidence in large language models.

· An explanation of the MAYA principle as it relates to AI.

· Thoughts on taking a “measured approach” when it comes to AI auditing.

‘Go before you’re ready’: Advice for leaders in all walks of life Apr 18, 2024

To Jen Croneberger, it’s easy for many in society to spend a lot of time planning to do big things but not always carrying out those plans. Taking an “if/then response approach” to life prevents accomplishing big goals, and so Croneberger advises people to take big leaps, even if they’re uncertain about having a safety net.

That’s one of several leadership concepts discussed on this JofA podcast episode. Croneberger, an author and consultant, is the keynote speaker June 17 at the AICPA & CIMA Not-for-Profit Industry Conference. In this conversation, she previews that session, explains the words behind the acronym BRAVE, and shares the importance of human-focused leadership in an AI-driven world.

Croneberger also responds to the topic of a JofA episode from April 2022 about how belief differs from arrogance.

What you’ll learn from this episode:

· A preview of Croneberger’s keynote session at the AICPA & CIMA Not-for-Profit Industry Conference in June.

· Why leadership is “a behavior, not a title.”

· Some of the ways she applies a sports background to her role as a consultant.

· Why Croneberger likes the leadership advice “Go before you’re ready.”

· How we can use digital devices to improve self-care.

· The importance, in Croneberger’s mind, of speaking openly about topics such as depression.

Comfort in the uncomfortable: One-on-one meeting strategies that work Apr 11, 2024

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.”

Working 9 to 9: One expert’s experience with severe burnout Apr 04, 2024

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.

How to best tackle technology and the talent pipeline Mar 28, 2024

Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, together as the Association of International Certified Professional Accountants, has his finger on the pulse of the profession. He’s traveled all over, talking to everyone from corporate CFOs to newly minted accountants and accounting apprentices, and he’s sharing some of the insights gained from those discussions on this episode of the JofA podcast.

Hood, who has been in his current role for three years after a long stint as CEO of the Maryland Association of CPAs, takes time to reflect on his move to the “global stage,” to explain the issues that most concern finance leaders, and to detail an early apprenticeship success story.

What you’ll learn from this episode:

· Hood’s reflection on three years in an AICPA & CIMA executive role.

· The “pre-Internet” computer technology Hood’s company used when he was a CFO.

· One example of how the power of peers has built the Future of Finance Leadership Advisory Group.

· Why the story one bank’s apprentice provides hope in addressing the accounting talent pipeline drought.

· The top-of-mind issues for finance leaders for this year and into 2025.

The reasons economic sentiment about the coming year is on the rise Mar 21, 2024

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.

The CFO agenda: Hybrid work, cybersecurity, career development and more Mar 15, 2024

The AICPA & CIMA CFO Conference begins April 24 in Charleston, S.C.

Sandy Sloyer, CPA, CGMA, and Misty Geer, CPA, CGMA are long-time members of the conference planning committee, and they joined the JofA podcast to discuss how priorities have changes for finance leaders over the past few years — and how the conference agenda has been adapted as a result.

Here’s a link to the list of conference sessions.

What you’ll learn from this episode:

· Attendance options for the April conference.

· How the conference planning committee adapted to the pandemic era.

· Key issues facing CFOs and the finance function these days.

· Agenda highlights, along with some of Geer’s favorite speakers from previous years.

· Sloyer’s feeling every year when the conference ends.

· Why the event is for current CFOs and aspiring ones.

Clearing up BOI confusion and other tax advocacy updates Mar 14, 2024

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.

Why are there fewer accountants? What the research says Mar 07, 2024

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.

Bubble trouble: How leaders can identify and escape their biases Feb 29, 2024

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.”

JofA roundtable: Why 2024 is shaping up as a big year for ‘people tech’ Feb 22, 2024

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.

Tech roundtable: AI and automation go way beyond ChatGPT Feb 21, 2024

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.

What it’s like to be a finance apprentice Feb 15, 2024

Darryl Bonner of Connecticut-based Liberty Bank is part of a pioneering finance apprenticeship program. He’s in the midst of a rotation through several departments at the bank, and he’s taking steps to receive the CGMA designation as well.

Bonner is one of the first apprentices in the AICPA’s Professional Apprenticeship for Finance Business Partners program, which in 2022 was approved by the U.S. Department of Labor.

On this podcast episode, Bonner discusses why he was drawn to Liberty Bank, how he mixes his day job with the CGMA Finance Leadership Program, and what title he seeks to achieve in his career.

Resources:

n Liberty Bank’s CFO, Paul Young, CPA, CGMA, joined the JofA podcast 13 months ago to discuss why the bank was interested in taking part in the program and how adding apprentices could help to address a talent gap.

n A short video on the impact of the apprenticeship program: https://www.aicpa-cima.com/resources/video/professional-apprenticeships-are-making-an-impact

What you’ll learn from this episode:

· How Bonner first heard about the finance apprenticeship program.

· Why he considered his interview process with Liberty Bank to be unique.

· An explanation of the departmental rotation program at Liberty Bank.

· Why Bonner says “everyone can’t be coached the same.”

Why accounting deserves STEM status, and how you can help Feb 08, 2024

The practice of accounting is increasingly tied to technology, the T in the acronym STEM (science, technology, engineering, math). That tie-in is one reason the AICPA is advocating for accounting to be federally recognized as a STEM education field.

Two AICPA leaders join this episode of the JofA podcast to discuss the STEM topic: Jan Taylor, CPA, CGMA, academic in residence and senior director–Academic & Student Engagement, and Lauren Pfingstag-Vahey, director–Congressional & Political Affairs.

Resources

AICPA & CIMA resource page, Accounting is STEM

JofA coverage of AICPA support for STEM-focused legislation in fall 2023

What you’ll learn from this episode:

· Tracing STEM’s history to the 1950s space race.

· The educator who came up with the acronym used today.

· Why accounting should be considered a STEM education field.

· How a STEM designation could help grow the accounting talent pipeline.

· The number of co-sponsors for a House bill focused on accounting as STEM.

· How members can support advocacy efforts.

Super Bowl CFO Q&A: AI, risk management, enjoying the moment Feb 06, 2024

Dan Crumb, CPA (inactive), CGMA, is a repeat guest on the JofA podcast, because, as CFO and executive vice president of the Kansas City Chiefs, his team is back in the Super Bowl for the second year in a row and the fourth time in five seasons.

It’s a run he’d like to see continue and one that has presented the franchise with expanded revenue opportunities.

In this episode, Crumb discusses the NFL’s first online-only playoff game, how the team’s finance function uses artificial intelligence (AI), and how he maintains balance in his life. And, of course, we asked him about Taylor Swift.

Super Bowl LVIII is Sunday in Las Vegas.

Below are Crumb’s previous podcast interviews:

Journal of Accountancy episode in February 2023

FM episode in February 2020

What you’ll learn from this episode:

· Steps taken to guide fans on staying warm during a recent game that was the coldest in stadium history.

· Some of the AI-aided ways the franchise learns about fan demographics and attendance.

· The impact of the team’s recent success on season-ticket renewals.

· How Crumb addresses his spiritual, physical, and mental health.

· A quick franchise history lesson — and why he tells staff to “enjoy the moment.”

· His thoughts on suggesting a play to coach Andy Reid.

Explaining the role of ARSC and its decision tree Feb 01, 2024

Mike Westervelt, CPA, is chair of the AICPA Accounting and Review Services Committee (ARSC), and he joins this episode of the JofA podcast to discuss the committee’s role in assisting members.

In 2023, ARSC released a decision tree to guide practitioners in eliminating confusion related to the applicability of AR-C Section 70, Preparation of Financial Statements. He compares the decision tree, an interactive PDF, to the Choose Your Own Adventure book series.

Resources:

· ARSC homepage

· Analytical Procedures in a Review Engagement

· Guide to financial statement services

What you’ll learn from this episode:

· An introduction to ARSC and its main roles.

· An explanation of preparation services and related guidance.

· What Westervelt means by saying: “You cannot trip into a standard anymore.”

· A guide to ARSC’s decision tree and how it can eliminate confusion for practitioners about the applicability of AR-C Section 70.

· Other resources for members and areas of focus for ARSC in the future.

ERC, BOI, e-signature relief: 3 focus areas for tax advocacy Jan 25, 2024

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, joins the JofA podcast to review 2023’s tax advocacy highlights and look ahead to key issues this year and beyond.

Her team’s focus areas include the employee retention credit claims, beneficial ownership information reporting requirements, along with numerous other issues of concern to tax practitioners.

Resources:

n JofA article on BOI and what it means for CPA firms

n FinCEN news from December on BOI final rule

n 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:

· The number of AICPA comment letters sent to legislators in 2023.

· Where things stand regarding e-signature relief.

· Lauridsen’s explanation of why beneficial ownership information requirements, while not specifically related to tax, are applicable to tax practitioners.

· A summary of topics included in the resources section of the Tax Section’s landing page

· Lauridsen’s closing message to members.

The importance of targeting talent early, enthusiastically Jan 18, 2024

Jennifer Wilson is passionate about the accounting pipeline and the work being done by the National Pipeline Advisory Group (NPAG). Wilson, the CEO of Convergence Coaching and independent facilitator for NPAG, joined the JofA podcast this week to update listeners on progress in addressing talent concerns.

Wilson details the timeline for delivering a draft report to AICPA Council, themes that are emerging in discussions so far, and how entities but also individuals can play a vital role in attracting talent to the profession.

Resources

The main NPAG page, AccountingPipeline.org

March 2023 JofA podcast episode with Avani Desai, CPA

August 2023 JofA podcast episode with NPAG chair Lexy Kessler, CPA, CGMA

Last week’s episode with Kimberly Ellison-Taylor, CPA, CGMA

What you’ll learn from this episode:

· An explanation of the National Pipeline Advisory Group (NPAG) and Wilson’s work with the group.

· Some key factors that contribute to “pipeline leaks.”

· The core value proposition of the profession, in Wilson’s words.

· The role of individual responsibility in helping to address accounting talent concerns.

· A timeline for some of NPAG’s key initiatives.

· The small changes that can lead to big ripples in the pipeline, according to Wilson.

For all future bosses: A leader’s take on in-office work, AI, and more Jan 11, 2024

Kimberly Ellison-Taylor, CPA, CGMA, the founder and CEO of KET Solutions and a former AICPA board chair, is energized by people she met and words she heard at recent events.

Ellison-Taylor recaps some of the highlights in this episode of the JofA podcast, focusing on a session at the Future of Finance Summit in December on how finance professionals, and women in particular, can turn dreams of serving on a corporate board into reality.

Also, get caught up on recent articles in the JofA, including a recap of a session on generative AI at Digital CPA, the start of tax season according to the IRS, how auditors can handle questionable employee retention credit claims, and when some accountants are completing work.

What you’ll learn from this episode:

· A roundup of several JofA articles in a busy news week.

· Ellison-Taylor’s key takeaways from the Women’s Global Leadership Summit and Digital CPA events.

· The networking opportunities provided by those events and the Future of Finance Summit.

· Her thoughts on technology being “unleashed” and future talent being “unlocked.”

· What Ellison-Taylor means when saying “Together, we’re unstoppable.”

· Why she says that budding leaders should spend time in an office instead of being fully remote.

Gen AI, business model transformation, and more with AICPA & CIMA CEO Jan 04, 2024

Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, explains why the accounting profession has to embrace generative artificial intelligence (Gen AI) instead of running from it. And that’s not all he’s talking about in this episode of the JofA podcast.

Melancon shares insights on the effect of AI on audit and assurance, how private equity’s entry into accounting is changing firms, how business models themselves are changing, and why he says the world needs accountants more than ever.

This is the second of a two-part conversation. The first part was published in December.

What you’ll learn from this episode:

The importance and value of a recently published toolkit on Gen AI.
Why accountants and accounting firms have to embrace Gen AI and understand its risks.
Potential uses for AI in auditing and assurance.
The shifts Melancon sees in the business model of firms.
Skills that CPAs should be prepared to learn, unlearn, and relearn.
Melancon’s explanation of the “trust equation” as it relates to CPAs.

A Robert Half executive on the 2024 hiring outlook Dec 21, 2023

Steve Saah, executive director of the finance and accounting permanent placement practice at Robert Half, joined the JofA podcast last week at the Future of Finance Summit in Orlando, Fla. In the interview, he shares recent data that seems positive related to hiring trends.

He also offers insights into the future of in-office work, analyzes the role that inflation plays in that dynamic, and discusses the advantages organizations have with multiple generations in the workforce.

What you’ll learn from this episode:

§ How organizations are approaching hiring in 2024, according to recent Robert Half data.

§ The reasons for the significant gap between supply and demand in the finance industry.

§ The one word Saah used to describe the 2023 economy.

§ What Saah thinks about the future of in-office work.

§ The hiring advantages of hybrid work models for organizations.

§ The relationship between age, career level, and coachability.

Power of the peer group: Riding the wave of finance transformation Dec 19, 2023

The JofA podcast took a road trip last week to the Future of Finance Summit, catching up with several leaders on highlights from the event and reflections on its growth since the first event in Nashville, Tenn., in 2021.

Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, leads off this compilation episode, sharing a favorite quote and how it applies to the summit’s themes. He and other speakers explain how a growing community of leaders is applying the knowledge of the crowd to guide their organizations in transformative times.

Other speakers in this episode:

n Carrie Kruse, CPA, CGMA, economic development administrator for the city of Des Moines, Iowa;

n Scott Spiegel, CPA, CGMA, COO for AICPA & CIMA; and

n Kelly Lorenz, AICPA & CIMA’s associate director–Business Growth and Engagement.

The episode is the first of several that will focus on Future of Finance speakers and sessions, so be on the lookout for more, starting Thursday and continuing into 2024.

What you’ll learn from this episode:

· Hood’s summary of the event’s growth over the years.

· Why Cruse considers the event the “top professional development opportunity of the year.”

· The reasons Spiegel is more energized now about a new finance apprenticeship program.

· Why the summit’s idea-sharing has been a “gold mine of opportunity” for finance leaders, according to Lorenz.

Podcast part 1: Melancon on news and trends affecting CPAs Dec 14, 2023

Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, joins the show this week for the first part of a two-part conversation on the state of the profession and what CPA can expect in 2024 on several fronts.

Melancon details concerns about a potential IRS shutdown in tax season, the state of ESG reporting and regulation, how elections could play out, and why the threats to CPA licensure are real.

Part 2 of the conversation will be published in an early January episode of the JofA podcast.

What you’ll learn from this episode:

· Melancon’s one word that sums up the state of the profession looking ahead to the new year.

· An overview of two major issues affecting CPAs: the moratorium on employee retention credit claims and requirements for beneficial ownership information reporting.

· The “significant service implications” of a potential government shutdown related to the IRS.

· Why legislation in Europe and California will have an effect on ESG reporting, even for businesses outside those areas and regardless of any SEC action on ESG.

· Melancon’s assessment of “the art of compromise” in Washington.

· The reasons CPA licensure is so important.

The 2024 hiring plans of finance executives, plus their top challenges Dec 07, 2023

In the fourth-quarter results of the Business and Industry Economic Outlook Survey, CPA decision-makers remain pessimistic about both the global and U.S. economy, but less so about their own organizations.

They also are showing a hesitance to hire, facing an array of challenges, as explained in this episode of the JofA podcast. Guest Ken Witt, CPA, CGMA, AICPA & CIMA associate director — Management, Accounting Research and Development, analyzes the results of the quarterly survey.

What you’ll learn from this episode:

How sentiment has changed regarding recession likelihood in the past few quarters.
Projections for the next 12 months for revenue and profit.
A recap of how the top challenges have shuffled lately, including regulatory concerns falling far down the list.
The trends in hiring and why some workers may be more likely to stay put than look for another job.
The specific part of decision-maker sentiment that Witt is waiting for in 2024.

Hear all about it: What’s in the December JofA Nov 30, 2023

Jeff Drew, the JofA’s editor-in-chief, is the guest on today’s episode, taking listeners through some of the articles in the December issue, which goes live on Friday.

Drew, a former JofA senior editor and manager with the AICPA’s Private Companies Practice Section, has focused on content for the daily and monthly magazines for more than a decade. He is also the host of the Small Firm Philosophy podcast.

He previews coverage on the topics of:

n firm practice management;

n considerations for potential firm partners;

n the employee retention credit;

n Excel’s Automate feature; and

n Improving your work setup with a vertical mouse, mechanical keyboard, and more.

If you have article ideas or other magazine feedback, you can reach Drew at jeff.drew@aicpa-cima.com.

What you’ll learn from this episode:

· Where readers can find the latest monthly issue of the JofA.

· A summary of a small firm owner’s article about firm practice management.

· Considerations for CPAs on the path to partner.

· Drew’s explanation of the top item in the Tax Matters section.

· The advice that Kelly Williams, CPA, shares about Excel in Technology Q&A.

· Another Technology Q&A topic that reminds Drew of 1980s arcade games.

Doubling down on tech: What’s in store at Digital CPA in Vegas Nov 16, 2023

The 2023 Digital CPA Conference, Dec. 3–6 in Las Vegas, will be the event’s 12th year. To explore the trends that drive this year’s agenda – and to look back on the conference’s weather-delayed start – Michael Cerami joins the JofA podcast. Cerami is executive vice president of strategic alliances, business development, and communications at CPA.com, the AICPA’s business and technology subsidiary.

Cerami discusses generative AI, previews some of the Digital CPA sessions, and explains how business model transformation is a key topic for future-focused CPA firms and practitioners.

What you’ll learn from this episode:

· More from CPA.com’s Michael Cerami on the recently released AI toolkit.

· Cerami’s preview of some of the keynote speakers’ topics.

· Why the initial Digital CPA event was delayed about six weeks.

· Why business model transformation is top of mind for the profession.

· How Digital CPA has led the discussion over the years on the topic of client advisory services, or CAS.

In an online meeting, where do you direct your eyes? Nov 09, 2023

The title above is the first question posed to the guest on this episode of the JofA podcast. Byron Patrick, CPA/CITP, CGMA, vice president—Client Success at the B3 Method Institute, is a repeat guest on the show, and he’s spoken previously about best practices for virtual meetings.

The conversation topic was spurred by an article covering recent research about how our brains perceive interaction differently in virtual meetings than in-person meetings.

The first time Patrick appeared on the JofA podcast, in 2019, he discussed effective email rules.

Over the years, he’s shared PowerPoint rules to live by and advice for virtual meetings.

What you’ll learn from this episode:

· Why trying to look someone in the eye is difficult in virtual meetings.

· Patrick’s recall of memorable meeting gaffes.

· How headphones can be useful in online meetings.

· A cameo appearance from Patrick’s dog, Trinity.

· Why Patrick says that 10 minutes of consideration can make meeting attendees more effective and presentable.

‘Moving so quickly’: The latest on ESG compliance Nov 02, 2023

When will the SEC’s proposed rule on climate disclosures become final? And what effect will new legislation in California have on companies across the country? Those questions and more are topics of this episode of the JofA podcast.

Ami Beers, CPA, CGMA, senior director–Assurance & Advisory Innovation at the AICPA, discusses the latest news on multiple regulatory and reporting fronts. She also previews a December virtual conference. and discusses the AICPA a summary resource document, created in response to recently signed laws in California.

Beers also discusses SEC rules that are not climate-related, such as ones focusing on human capital and board diversity.

What you'll learn from this episode:

The nationwide impact of new climate-related legislation in California on public and private companies.
Where the SEC stands on its proposed climate rule, and the SEC’s plans related to the “S” and “G” in ESG.
The key role CPAs are positioned play in the rapidly evolving ESG reporting environment.
How accounting professionals can benefit from the AICPA & CIMA ESG & Sustainability Conference in December.

Better business: How to invest in staff and keep staff invested Oct 26, 2023

For several years now, finance executives have had talent development and retention on their minds – even with all the other business headwinds they’re facing today. That’s why the timing of an apprenticeship program has been so important, and why it’s the main topic on this episode of the JofA podcast.

Today’s guest, Barry Payne, director—External Relations, Management Accounting at AICPA & CIMA, together as the Association of International Certified Professional Accountants, explains the tie-in between the emphasis on apprenticeships and the Future of Finance Leadership Advisory Group (FFLAG).

Also, hear a short segment of the Small Firm Philosophy podcast where the owner of a small CPA firm talks about a drastic change to her business model that paid personal and professional dividends.

Resources:

U.S. apprenticeship program overview
Future of Finance Summit agenda and registration
JofA article on Sandy Johns and the transformative leap she took for her firm

What you’ll learn from this episode:

An overview of progress in the Department of Labor-approved apprenticeship program in its first year.
Some of the new companies now taking part in the program.
How companies are applying the apprenticeship program to train and upskill existing employees.
Payne’s explanation of how an emphasis on apprenticeships was a “fundamental action” of the FFLAG.
The top challenge listed by finance executives who are part of the FFLAG.
Information about the December summit and agenda and why Payne calls it a “safe haven” for finance leaders.

No Plan B: A personal lesson about retirement readiness Oct 19, 2023

Stephanie Hughes doesn’t want anyone, especially families, to face an unforeseen crisis when it comes time to retire. Her family’s own struggles, when she was in college, helped shape that view.

Hughes, CEO of the Wealth Management & Family Office at the firm Wiss & Co. LLP, said she’s teaching her daughter about money, saving, and thinking early about retirement. Dedicating a little bit of time now to educate others about retirement readiness can pay big dividends down the road.

This episode of the JofA podcast also highlights breaking news related to IRS details on withdrawing employee retention credit claims.

What you’ll learn from this episode:

· More about Stephanie Hughes and the division of the firm Wiss of which she is CEO.

· The personal experience that helped shape Hughes and her view on financial planning, especially as it relates to transferring family wealth.

· How her family’s struggle led Hughes to a job that she says “became my passion.”

· Why retirement readiness is sometimes more challenging for women.

· The importance of early education when it comes to saving for retirement.

· The YouTube series that Hughes and other firm leaders have begun.

An unorthodox path to CPA success Oct 12, 2023

Nicole Davis isn't your typical CPA firm owner. She has five children, owns three businesses, and has zero work experience in a public accounting firm. She has crafted a presence on social media including an account with more than 12,000 followers on X, formerly known as Twitter.

How has Davis done all of this, launching the firm Butler-Davis Tax & Accounting and two other businesses? And what has she learned along the way? She shares her story in this episode, a collaboration with the Small Firm Philosophy podcast, which is produced by the AICPA's Private Companies Practice Section.

What you’ll learn from this episode:

Why Davis changed her firm's business model after the first year.
How she uses video to communicate with clients and staff.
How she shifted her firm away from taxes to accounting, bookkeeping, and advisory services.
How price increases helped her firm right-size its client base.
How she uses social media to connect with peers and land clients.

Why should CPAs understand ChatGPT? Oct 05, 2023

In the spring, two technology-focused accounting educators wrote an article about ChatGPT’s ability to answer hypothetical client questions. Now, they’re joining the JofA podcast to look into the future of generative AI.

Mfon Akpan, CGMA, DBA, an assistant professor of accounting at Methodist University, and Scott Dell, CPA, DBA, an assistant professor of accounting at Francis Marion University, explain why CPAs and other professionals can be left behind professionally if they don’t spend time learning about tools such as ChatGPT.

They talk about productivity gains, the competitive divide that could develop, and how, in the short term, more training is needed to fully harness generative AI.

Akpan and Dell also note that although the power of generative AI tools is exciting, these tools are far from perfect. In particular, accuracy remains a concern.

Editor’s note: The interview was recorded in August.

What you’ll learn from this episode:

How Akpan and Dell got to know each other.
A forecast of how generative AI will look in 2024.
Some of the other tools competing with ChatGPT.
Akpan’s “aha moment” when giving a recent presentation.
Why Dell said — twice — “the sky’s the limit” with AI tools.

Driving fuel efficiency: CPAs’ changing role in oil and gas reporting Sep 28, 2023

Ryan Bogner, EY’s Americas digital sustainability leader, is the keynote speaker at the AICPA & CIMA Oil & Gas Conference in November in Las Vegas.

He explains on this episode of the JofA podcast how the regulatory landscape will affect reporting going forward, the link between cost efficiency and carbon efficiency, and why, even with more focus on sustainable energy sources, demand for oil and gas remains high.

What you’ll learn from this episode:

· Bogner’s explanation of how reporting directives in Europe can affect U.S. companies.

· How changes in the regulatory landscape could affect CPAs’ reporting and assurance duties and timelines.

· An update on the release of the SEC climate rule’s final version.

· Definitions of “carbon efficiency” and “carbon intensity.”

· Why Bogner says that demand for oil and gas as an energy source isn’t diminishing.

Summing up Sid: The ultimate CPA and friend to all Sep 22, 2023

Plenty of CPAs can say they learned something from Sid Kess, who died last week at age 97. Some earned CPE credits from a Kess conference session, others read his book, and some learned simply how to treat other people.

Kess was passionately devoted to the profession; he continued serving on conference planning committees well into his 90s. As recently as 2022, Kess was honored with others in the profession at AICPA & CIMA ENGAGE. The specific award given then to Kess was the Stanley H. Breitbard Personal Financial Planning Division Lifetime Achievement Award. It is one of many such honors, not that Kess was in it for awards.

In 2016, he received a separate PFP award. In 2011, he received the AICPA's highest honor. In 2010, an award related to continuing education was named after him. That's the way it was for Kess, who devoted his life to the profession.

This episode of the JofA podcast shares more memories of Kess, dating back 50 years.

What you’ll learn from this episode:

Background information on Sid Kess, who died last week at age 97.
What Kess taught Marty Finn about relationship-building at conferences.
David Lifson’s surprise that Kess remembered him from a meeting that occurred at least 10 years earlier.
Julie Welch’s memory of when Kess suffered broken bones just before an AICPA video session but carried on.
AICPA & CIMA CEO Barry Melancon’s early dealings with Kess.
Why Melancon said that “you hated to disappoint” Kess.

ERC suspended: What happens next Sep 15, 2023

On Thursday, the IRS suspended the processing of new employee retention credit (ERC) claims to combat the prevalence of fraud. These measures will help protect small businesses and aim to stop fraud by promoters of ERC mills.

In this episode, Kris Esposito, Director — Tax Policy & Advocacy, AICPA & CIMA, joins April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, AICPA & CIMA, to discuss this important news development and break down the details of the announcement.

What you’ll learn from this episode:

How to find out if submitted claims have been processed (3:53).
When recently submitted claims will be processed (4:41).
How to talk to your clients about the IRS announcement (6:22).
How a new resource can help (7:38).

No regrets: Reflections on a family-owned CPA firm’s ‘great run’ Sep 14, 2023

For Kevin Martin, CPA, the many happy memories of his father — also a CPA named Kevin Martin — outweigh the grief that accompanied the elder Martin’s death in 2019.

An otherwise healthy 78-year-old, the grandfather to Kevin and Lisa Martin’s four children was diagnosed with amyotrophic lateral sclerosis (ALS), a debilitating disease that has no cure. He died about a month later.

Kevin Martin, the son, didn’t want those memories to fade away, and so, in the middle of the pandemic, he decided to write. He kept writing, and eventually his grief journal became a book, All Is Well: Life Lessons from a Preacher’s Father.

In this episode of the JofA podcast, Martin discusses the “preacher” part of the book’s title, how the family-owned CPA firm has moved forward, and advice for dealing with life-altering events.

What you’ll learn from this episode:

· The upheaval in accounting and other industries that affected Martin’s firm at the onset of the pandemic.

· Why Martin decided to write a book about his father.

· The last words of Martin’s father in the hospital.

· Why Martin says “grief has no rules.”

· Martin’s advice for how to assist grieving coworkers, including “bringing down the boundaries.”

· The book’s role in fundraising for ALS charities and research.

Why the outlook of CPA decision-makers has improved Sep 07, 2023

It’s not a rosy outlook by any means, but the mood of finance decision-makers has brightened in the past three months. That’s according to a third-quarter survey of CPA decision-makers in business and industry. Optimism is rising, along with projections on revenue for the coming 12 months. Also, inflation is no longer the top challenge chosen by respondents.

Ken Witt, CPA, CGMA, AICPA & CIMA's associate technical director – Reasearch and Development, discusses the results of the Business and Industry Economic Outlook Survey in this podcast episode.

What you’ll learn from this episode:

· The decline in the percentage of respondents expecting their businesses to contract.

· A breakdown of how CPA decision-makers in business and industry feel about the likelihood of a recession.

· The top challenges facing finance executives.

· What Witt calls the “keynote stat” to monitor leading up to the fourth-quarter survey results.

An updated practice aid and how it can assist in audits of digital assets Sep 01, 2023

The AICPA’s Digital Assets Working Group published the first iteration of its digital assets practice aid in late 2019. Since then, much has changed related to digital assets, and so the practice aid has evolved with timely updates.

The latest update, member-locked content published in late July, continues that evolution.

On this episode of the JofA podcast, Kyle Sewell, CPA, a member of the Digital Assets Working Group, explains more about why the updates are important and how they can help practitioners.

3 keys to building a strong team: Partnerships, people, goal alignment Aug 24, 2023

When Rand Greenblatt, PA, assumed the role as CFO of Elixir Solutions in early 2022, he set out to improve finance operations while empowering team members. He said that seeing direct reports improve through taking on stretch roles is a key part of talent development – and something that’s gratifying to him.

Greenblatt shared what it’s like to manage a team that’s fully remote, why he considers that setup “a boon to the organization,” and more in this episode of the JofA podcast.

What you’ll learn from this episode:

· Rand Greenblatt’s background writing for a newsletter tied to the JofA.

· Greenblatt’s new role and more about his job priorities.

· Three areas of focus for improving his organization’s finance function.

· The “huge selling point” – and other benefits – of being a fully remote company.

· What Greenblatt considers the most rewarding part of his job.

Hybrid intelligence: Working with AI instead of against it Aug 17, 2023

Future-focused consultant and entrepreneur Scott Klososky admits he doesn’t know exactly what the future holds as it relates to artificial intelligence. But he is definitely more upbeat about the productivity possibilities AI offers than down about the jobs AI might eliminate

He believes AI will cut out parts of jobs, not entire ones. Klososky will talk more on this topic in September at the AICPA & CIMA Conference on Banks and Savings Institutions.

About AI, Klososky says: “Instead of fearing it, we need to get better at embracing it and loving and appreciating what it can do.”

What you’ll learn from this episode:

· How the past 10 months have transformed the adoption of generative AI such as ChatGPT.

· What Klososky means by the phrase “consumerized AI” – and how what’s happening now compares to the launch of the iPhone.

· Why Klososky prefers “machine intelligence” over “artificial intelligence.”

· How technology could play a role in helping to close the U.S. labor gap.

· A new take on the 80-20 rule, applicable to AI.

· What Klososky is looking forward to from this year’s banking conference.

‘All in this together’: Addressing the CPA pipeline issue Aug 10, 2023

Lexy Kessler, CPA, CGMA, is the chair of the National Pipeline Advisory Group, a group of accounting stakeholders formed to help shape strategy to address the profession's talent shortage.

Kessler is mid-Atlantic leader for the firm Aprio and a member of the board of directors of the Association of International Certified Professional Accountants. She is a former chair of the Maryland Association of CPAs.

In this episode, Kessler discusses why leading the group appealed to her, more about the group’s responsibilities, and why she’s excited to learn from the group’s other members.

What you’ll learn from this episode:

· What the advisory group is and the approach it is taking to key responsibilities.

· Some of the ways the talent shortage in the profession has affected business.

· Why organizations, including CPA firms, must be open to looking inward for solutions to the profession’s pipeline problem.

· How the National Pipeline Advisory Group’s universally desired end result puts it in a strong position to aid the cause.

How one small firm drastically cut its busy-season hours Aug 03, 2023

Johanna Sweaney Salt, CPA, CGMA, used to work 100 hours a week during busy season. As the founder and managing partner of Gray, Salt & Associates LLP, she believed it was her responsibility to put in the time needed to make her small firm a success.

Today, Johanna remains a full-time partner at the firm, and her son, Dalton Sweaney, CPA, is now the managing partner. His desire a few years ago to spend more time with his young children prompted him to ask his mother if they could make changes to make busy season less crazy.

She said yes, starting a multiyear journey that has freed Dalton up for more dinners with his family and has cut her busy-season hours almost in half. What changes did they make and how have they kept the firm running profitably?

What you’ll learn from this episode:

· How the firm began a move to cut back on both total hours and hours worked in the office.

· The remote work toolkit that assisted in the business transformation.

· How a hard minimum set by the firm helped to maximize profits.

· When, how, and why the firm fires clients.

· The firm’s ideas about four-day workweeks.

Fraud, football, and a viral video: A midsummer compilation Jul 28, 2023

This episode is a midsummer look back at insights from selected 2023 podcast guests, from a Super Bowl CFO to the AICPA vice chair.

Why the disconnect? Risks are everywhere; risk management is not Jul 20, 2023

A survey report that focuses on enterprise risk management (ERM) and offers tools for risk practitioners is the focus of this episode of the JofA podcast.

The 14th edition of The State of Risk Oversight, a report produced jointly by the AICPA & CIMA, together as the Association of International Certified Professional Accountants, and the ERM Initiative at North Carolina State University, shows that the volume and complexity of risks continues to be prominent on the radar of leaders at U.S. organizations of all types and sizes. However, complete and formal ERM processes are just as common now as five years ago, after the survey showed nearly a decade of increased interest in ERM.

Mark Beasley, CPA, Ph.D., a professor at N.C. State and director of the school’s ERM Initiative, analyzes the disconnect, explains why a post-pandemic sigh of relief is not a good sign for risk managers, and shares some of the questions that organizations can ask themselves to improve their ERM practices.

What you’ll learn from this episode:

· An overview of the annual survey, and why it appears that interest in establishing complete and formal risk management appears to have leveled off.

· Beasley says there’s a “false sense of security” related to risk management.

· Why defining an organization’s crown jewels is a key first step in risk management.

· The obstacles that inhibit some organizations’ risk management efforts.

· Questions related to risk management that can be part of your next company strategy meeting.

S corps. and Rev. Rul. 2008-18 F reorganizations Jul 13, 2023

In this podcast episode, a collaboration between the JofA and the Tax Section Odyssey podcasts, Tony Nitti, CPA, partner—National Tax at EY, joins April Walker, CPA, CGMA, lead manager—Tax Practice & Ethics at AICPA & CIMA, from ENGAGE 2023.

The main topic of their discussion is Rev. Rul. 2008-18, delving into S corporation reorganizations.

Related resources

Rev. Rul. 2008-18 — Postulates two situations in which an S corporation becomes a qualified subchapter S subsidiary (QSub) of a newly formed corporation that will qualify as an F reorganization. The ruling also provides new guidance on the proper employer identification number (EIN) to be used by the entities in each situation.

Private equity and F reorganizations involving S corporations — The Tax Adviser, Sept. 1, 2020

6 reasons an S corporation wouldn’t need a PLR | Tax Section Odyssey — Rev. Proc. 2022-19 provides procedures to allow S corporations and their shareholders to resolve frequently encountered issues without requesting a PLR.

What you’ll learn from this episode:

· How S corp. buyers can protect themselves against the risk of invalid S elections.

· An overview of Rev. Rul. 2008-18 and a hypothetical example of its applicability.

· A review of Rev. Proc. 2022-19 and fixes to invalid S elections.

· The extra step when an S corp. owns 100% of a qualified Subchapter S subsidiary.

Where do we go from here? Career advice for high performers Jul 07, 2023

Donny Shimamoto, CPA/CITP, CGMA, the founder and managing director of Intraprise TechKnowlogies LLC, recently co-hosted a conference session on feedback – specifically, how high performing employees sometimes get a low amount of valuable feedback.

Such high performers can have their development halted if they fail to seek out the right feedback to advance in their careers, Shimamoto said.

Shimamoto also reflected on the recently completed AICPA & CIMA ENGAGE, highlighting the words of Carla McCall, CPA, CGMA, the AICPA vice chair, about asking for help.

What you’ll learn from this episode:

· Donny Shimamoto’s reflection on last month’s AICPA & CIMA ENGAGE.

· Why employees identified early as high performers sometimes fail to receive meaningful feedback.

· Shimamoto’s comparison of performance reviews and financial statements.

· Why an ENGAGE session about mental health resonated with him.

The key role accountants will play in the shifting definition of value Jun 29, 2023

As the components of a company’s value change, the role of finance must adapt to what it reports and how it manages tangible and intangible assets. That shift was underscored with the release of new global sustainability standards by the International Sustainability Standards Board, and it’s the topic of this episode of the JofA podcast.

Ash Noah, CPA, CGMA, FCMA, managing director—Management Accounting and ESG for AICPA & CIMA, together as the Association of International Certified Professional Accountants, explains briefly what the two standards are and what he sees changing for organizations going forward, in the U.S. and elsewhere.

Noah wrote a blog in May about the new imperative for accountants related to reporting on environmental, social and governance (ESG) factors.

In this episode, he goes into more detail about what the new standards mean for business and the profession.

What you’ll learn from this episode:

· Noah’s description of what is addressed in the new standards, IFRS S1 and IFRS S2.

· Details on types of intangible assets.

· How the release of the standards is likely to affect U.S. companies.

· The AICPA & CIMA vision around the standards, according to Noah.

· How the role of finance changes with the release of the standards.

CPAs and cannabis businesses – a 2023 update Jun 22, 2023

Advising legal cannabis-related businesses is a growing opportunity for CPAs. The landscape is ever-changing, on regulatory and other fronts.

Andrew Hunzicker, CPA, the founder and CEO of Dope CFO Certified Advisors in Oregon, and Ron Seigneur, CPA/ABV, founder and partner at the firm Seigneur Gustafson LLP in Colorado, joined the JofA podcast recently to provide an update on what has changed in the industry as well as highlights of the upcoming AICPA & CIMA Cannabis Industry Conference, Aug. 14-16 in Boston.

They discuss common questions CPAs have, how laws and regulations have changed over the years, and more.

What you’ll learn from this episode:

· An overview of the cannabis industry’s regulatory landscape since one of the speakers was on a JofA podcast episode in 2020.

· What attendees can expect at the AICPA & CIMA Cannabis Industry Conference in August.

· Details about accounting-specific guidance as it relates to cannabis businesses.

· The questions that Hunzicker and Seigneur often get about advising cannabis businesses.

· A list of some of the specific niches that make up the cannabis industry.

Advice to CFOs: Be agile and adaptable in the face of rapid change Jun 15, 2023

Chris Ortega is an upbeat person, as anyone who’s seen him present at a conference knows. But he also understands that, economically, times are tough, and he has advice for finance professionals to manage through the uncertainty.

Ortega also shares how his role at conferences has changed since he first began volunteering, why he likes coming back to AICPA & CIMA ENGAGE, and what he sees for the future of financial planning and analysis (FP&A).

What you’ll learn from this episode:

· Chris Ortega’s career progression from financial planning and analysis (FP&A) analyst to consultancy CEO.

· How the realm of FP&A and CFOs has changed in the past 18 months.

· Ortega’s advice for CFOs related to building up cash reserves.

· The value Ortega found in volunteering to be on the planning committee for a conference.

· His answer to the question, “In five years, what does FP&A look like?”

The power skills needed to lead effectively — from the AICPA’s vice chair Jun 08, 2023

Carla McCall, CPA, CGMA, was a prominent speaker at AICPA & CIMA ENGAGE 2023 for good reason. On this episode of the Journal of Accountancy podcast, McCall, recently named AICPA vice chair, discusses her career path and interest in volunteering while also serving as managing partner of the firm AAFCPAs.

McCall shares some of the key traits of leaders, what her firm is doing to address capacity issues, and one aspect of feedback that she considers difficult.

What you’ll learn from this episode:

· An overview of McCall’s career in public accounting.

· Why gaining an outside perspective has helped McCall and her firm.

· How she has learned to delegate responsibilities over the years.

· An obstacle McCall faced regarding mentorship early in her career.

· What she looks forward to in her role as AICPA vice chair.

Summing up economic sentiment: Less revenue, more pessimism Jun 01, 2023

CPA decision-makers in business and industry weren’t optimistic at the end of last year, but their outlook grew a bit sunnier as 2023 began. Now, as 2023’s midpoint approaches, the outlook of finance executives is again taking on a more pessimistic tone in a quarterly survey. Contraction plans are more common, and projections for revenue and profit have declined.

Ken Witt, CPA, CGMA, AICPA & CIMA’s associate director–Management Accounting Research and Development, discusses the results of the Economic Outlook Survey in this podcast episode.

What you’ll learn from this episode:

· An overview of second-quarter survey results.

· Why Witt now says that the fourth quarter of 2022 may not represent “the bottom” in terms of sentiment.

· How the high-interest-rate environment is affecting companies.

· Examples of more stringent lending requirements that businesses are facing.

· The hiring outlook and projections for the coming 12 months for revenue and profit.

Bots emerge as cyber threat for accounting firms May 25, 2023

ChatGPT and other generative artificial intelligence bots have made a big splash this year, with ChatGPT even passing the CPA Exam earlier this month, but there is another kind of bot accountants need to know about.

Cybercriminals have started using bots to identify zero-day vulnerabilities in routers, servers, smartphones, Windows, web browsers, and antivirus software. Once the hackers discover a vulnerability, they send out their bots to exploit it in as many places as possible, with CPA firms and finance departments among the potential targets.

What can CPAs do to shore up their cyberdefenses? The latest episode of the Journal of Accountancy podcast, produced in partnership with the Small Firm Philosophy podcast, addresses that question with Roman Kepczyk, CPA/CITP, CGMA, director of firm technology strategy for Right Networks and author of the AICPA Private Companies Practice Section’s CPA cybersecurity checklist.

What you’ll learn from this episode:

· What a zero-day vulnerability is and why patching is so important.

· The latest in strong password rules and tools.

· Key cybersecurity risks and mitigation strategies for remote workers.

· The technology trend Kepczyk is most excited about.

Tech roundtable: Getting your data in order May 18, 2023

Technology experts in the accounting space have plenty to say about the assets that organizations should protect from cybercriminals, what Web 3.0 could mean for the profession, and what skills future CPAs will need.

This is part two of a two-part conversation with:

n Amanda Wilkie of Boomer Consulting;

n Wesley Hartman of Kirsch Kohn & Bridge LLP; and

n Donny Shimamoto, CPA/CITP, CGMA, of IntrapriseTechKnowlogies.

The conversation also was turned into a JofA article. The podcast episode of the first part of the conversation was posted May 11. The speakers are scheduled to present at AICPA & CIMA ENGAGE in Las Vegas the week of June 5.

Resources

n Previous podcast conversation with Hartman about RPA.

n The 2020 podcast episode that featured tech roundtable participants Wilkie and Shimamoto.

Tech roundtable: Tapping into automation and tools of the future May 11, 2023

Technology experts in the accounting industry have plenty to say about ChatGPT, staffing issues and a push toward more automation, and how organizations can decide which projects are done in house or through outsourcing.

This is part one of a two-part conversation with:

n Amanda Wilkie of Boomer Consulting;

n Wesley Hartman of Kirsch Kohn & Bridge LLP; and

n Donny Shimamoto, CPA/CITP, CGMA, of IntrapriseTechKnowlogies.

The conversation also was turned into a JofA article. The second part will be published in podcast form on May 18 on the JofA’s podcast page.

Resources

n Previous podcast conversation with Hartman about RPA.

n The 2020 podcast episode that featured tech roundtable participants Wilkie and Shimamoto.

Learning to be a leader: Grab a mirror and a book May 04, 2023

For Dan Griffiths, CPA, CGMA, the president at Lume, a deodorant company headquartered in Utah, taking a rigorous approach to analysis – whether it be marketing spending or performance management – is critical.

The human side of running a business is also important. In a conversation more than seven years ago, Griffiths spoke about emotional intelligence, a skill that has served him well in a fully remote company.

“We have to be paying much closer attention to what cues we're getting from different members of the team,” he said.

In this Journal of Accountancy podcast episode, Griffiths offers leadership tips, reflects on what he did and didn’t know in making a move from a CPA firm to a retail company, and uses a baseball analogy to explain how performance management should work.

Griffiths is scheduled to speak at next week’s AICPA & CIMA CFO Conference on the topic of performance management.

Accounting student masters second chance at life Apr 27, 2023

Terrell Williams is about to graduate with a master’s degree in accounting. That’s something he never would have considered after dropping out of college nearly 10 years ago.

A chance event in his hometown of Louisville, Ky., changed everything for Williams. He nearly died outside a convenience store one March afternoon. “My time was ticking,” he said.

In this episode of the Journal of Accountancy podcast, Williams explains what happened, how he viewed it as the “start of a new life,” how he found accounting, and why he’s living life with more purpose.

What you’ll learn from this episode:

Williams’ recount of the life-changing events of March 29, 2017, in Louisville, Ky.
Why he said his first attempt at attending college didn’t go well.
The volunteer work Williams does in his hometown.
Some of Williams’ mentors, outside of the family that he says “raised me right.”
What’s next for Williams after graduation from the master’s in accounting program at N.C. State.

How one firm transformed its partner compensation model Apr 20, 2023

Incentivize the behaviors you want. That was the theory behind GRF CPAs & Advisors’ decision to change its partner compensation model several years ago. Firm leaders knew that if they wanted their partners to operate as a cohesive team, they needed to stop paying partners in ways that drove individualistic behaviors.

More than five years later, GRF President and Managing Partner Jackie Cardello, CPA, says that while the process was a lot of work, the results “absolutely” have been worth it.

What did GRF change, and how have the firm’s fortunes improved? Find out from Cardello and GRF partner Elinor Litwack, CPA, in this episode, produced in partnership with the Small Firm Philosophy podcast.

Prestige and value: A CPA career coach’s view on education requirements Apr 13, 2023

Nikki Winston, CPA, can recall a time when, for her, it might have been easy to give up on pursuing CPA licensure. Now, she receives messages from CPA candidates and advises them on how to continue to the journey.

Winston, a career coach and CPA Exam strategist, shares in this episode the common questions she gets from students and why she believes that the 150-hour educational requirement for CPA licensure should not change.

Resources:

"Understanding the Top Challenges to Becoming a CPA";
A video on how mobility for CPAs would be hampered by changing educational requirements for licensure; and
Advice for adding the hours required beyond those of a four-year college degree.

What you'll learn from this episode:

Winston's advice to approach educational requirements as if going through a buffet line.
Why knowledge in areas such as securitization and tax can end up being valuable.
The types of messages Winston often receives from accounting candidates seeking coaching or CPA Exam preparation.
Why Winston said that the profession should be trying to reach students well before they enter high school.
The personal example that applies to Winston's words: "Don't be intimidated by other people's exam experiences."

‘Status quo is the riskiest option’: One leader’s proven approach Apr 06, 2023

It’s obvious that change is happening rapidly these days, but is the accounting profession moving quickly enough to adapt to that change? It’s a question Joey Havens, CPA, has pondered often in his career at the firm Horne LLP.

Havens joined the Journal of Accountancy podcast to discuss the building of organizational culture, why the word “enduring” has been a strand running through his career, and why he likes to ask the question “Are we moving fast enough?”

Havens is a speaker at AICPA & CIMA ENGAGE in June in Las Vegas.

Of high interest: What rising rates mean for everyone Mar 30, 2023

As consumers, the current environment of higher interest rates affects us in several ways. One of the obvious ways is for potential homebuyers, who are keenly aware of 30-year mortgage rates that are far higher now than several years ago. But how do higher rates affect accounting practitioners and their business clients?

Bob Durak, CPA, CGMA, has a few answers in the latest episode of the Journal of Accountancy podcast. Durak, director–Audit and Accounting Technical Services at AICPA & CIMA, together as the Association of International Certified Professional Accountants, also explains the role that the Center for Plain English Accounting (CPEA) plays in assisting small to midsize firms with new or less obvious risks related to interest rates.

Hear more about why fraud could rise along with interest rates, what high rates might have to do with revenue recognition, and more about a recent CPEA report that details the current rate environment.

Managing vs. leading: Why that distinction matters in the modern workplace Mar 23, 2023

Hamza Khan had just spoken at a TEDx event in 2016 when he got a message from his boss: See me in my office, first thing in the morning.

Khan, an author and speaker who will deliver the May 10 keynote address at the AICPA & CIMA CFO Conference in Salt Lake City, recounts the initial reaction to his talk about management of people — it was not all positive. But the content was prescient, a pre-pandemic look at flexible work.

Cultivating tech talent: A CPA firm leader’s elementary approach Mar 16, 2023

Avani Desai, CPA, doesn’t trace her journey to becoming the CEO of a top firm to her youth — she goes back to before her birth, to the emphasis her grandparents put on education in the 1940s in India.

In keeping with the “starting early” theme, Desai believes that, instead of talking to students about accounting in their third year of college, the profession needs to reach out to students in the third grade. And she lived that example recently, visiting her daughter’s elementary school classroom.

Inflation, talent, labor costs: 3 challenges amid slightly rising optimism Mar 09, 2023

Overall, positivity about the U.S. economy remains muted, with just 23% of respondents to a recent survey saying they are optimistic about the domestic outlook for the next 12 months. That’s an improvement from the fourth quarter, when just 12% expressed optimism.

Also, 45% of respondents in the first-quarter Business and Industry Economic Outlook Survey are optimistic about their own businesses, up from 35% at the end of last year.

Won’t get fooled again: The who, what, and why of fraud Mar 02, 2023

Kelly Richmond Pope, CPA, CGMA, is a professor at DePaul University and the author of a book scheduled to be published later this month on fraud. Fool Me Once: Scams, Stories, and Secrets From the Trillion-Dollar Fraud Industry is designed to help people “see themselves or see their businesses in the stories” so that they can improve their defenses against fraud.

Pope details an interactive game related to the book that can help educate business owners about fraud and the motivations of fraudsters.

Vroom, or doom and gloom? Thoughts on succeeding amidst uncertainty Feb 23, 2023

Uncertainty isn’t going away. And because of that, entrepreneur and consultant Pascal Finette says that organizations and leaders should think differently about how they view the current business environment.

Finette, a keynote speaker at the Future of Finance Summit in Austin, Texas, challenges leaders to think of uncertainty as an opportunity, not an obstacle. He asks: “How do you actually show up as a leader in a world of uncertainty and lead into, and then lead, in the unknown?”

Also, here’s the late 2021 interview with Finette in which he talked about the accounting profession’s “interesting inflection point.”

Culture you can feel: Advice for making it an accelerator, not a constraint Feb 16, 2023

A well-defined, vibrant work culture certainly can help employees perform at or above expectations. And a poor culture can absolutely be a performance constraint. But how do leaders change culture, or grow it in the age of remote and dispersed workforces?

Kerry Brown has a few thoughts. Brown specializes in workforce transformation, and she spoke recently to finance executives about such issues at the Future of Finance Summit in Austin, Texas.

How CPAs focused on advisory services can answer several common questions Feb 09, 2023

Robin Thieme, CPA/CITP, CGMA, the founder and CEO of KBS CFO, has gotten all kinds of questions over the years from clients. As an early adopter of offering advisory and fractional CFO services, she’s someone well versed to share the insights that simply getting those questions can unearth.

Super Bowl CFO: How finance supports the Chiefs’ on-field success Feb 07, 2023

Making a run to the Super Bowl never gets old. That’s one of the messages that Dan Crumb, CPA, CGMA, the CFO of the Kansas City Chiefs, shares in this episode of the Journal of Accountancy podcast.

The team has qualified for the Super Bowl three of the past four seasons, and Crumb encourages the members of his finance team to “step back and soak this moment in” — in between doing extra work in advance of Super Bowl LVII on Sunday.

Digital assets in danger: How to guard against hackers Feb 03, 2023

Steve Ursillo, CPA/CITP, CGMA, is a partner in the Risk & Accounting Advisory Group at Cherry Bekaert and the firm’s national leader of information assurance and cybersecurity. He explains much about digital assets and the threats that digital asset owners must guard against. Cyberattacks are on the rise, including attacks focused on digital assets

In this podcast episode, Ursillo explains the threat landscape and offers advice on the safeguards that organizations should have in place to prevent the theft of digital assets.

Innovative CPA firm leader: ‘We never had a fear of trying’ Jan 26, 2023

Jody Grunden, CPA, the co-founder and CEO of Summit CPA Group, isn’t afraid to fail — he says he’s done it many times over the years. The firm, now part of Anders CPAs + Advisors thanks to a 2022 merger, is an innovator in several aspects of client billing and payment, from getting away from paper checks to escaping the “rat race” of hourly billing.

Grunden, the author of two books, explains on this episode of the Journal of Accountancy podcast some about Summit’s journey, why his co-founder at first was against a move to remote work, and why his approach to risk is more about developing a workaround than deciding to retreat.

What’s the 411? Explaining Schedules K-2 and K-3 Jan 20, 2023

Consternation and chaos are two of the words used to describe some of the reactions to IRS updates related to Schedules K-2 and K-3.

On this collaboration episode with the Tax Section Odyssey podcast, CPAs Tim Chan of KPMG and David Sites of Grant Thornton talk about the particulars with April Walker, CPA, CGMA, lead manager–Tax Practice & Ethics for AICPA & CIMA, together as the Association of International Certified Professional Accountants.

Struggling actor to CPA firm owner: One leader’s unlikely path Jan 19, 2023

Orumé Hays, CPA, CGMA, didn’t follow a traditional path to owning an accounting practice. From Africa to the Big Apple, she blazed a trail all her own.

Raised in Nigeria, Hays moved to Miami with a college degree in sociology and anthropology and a budding career in modeling and acting. Her pursuit of Hollywood stardom peaked with appearances in the 1996 movie The Birdcage.

She then discovered a new passion. Pursuing education and experience, she built her accounting career and launched her own firm in New York City.

Taxpayer advocate Q&A: IRS backlogs, service calls, new leadership Jan 12, 2023

On Wednesday, National Taxpayer Advocate Erin Collins delivered an annual report to Congress, saying that the IRS is in better shape than at this time a year ago. Now, to talk more about those issues and offer advice for taxpayers and tax practitioners, Collins is appearing on the Journal of Accountancy podcast.

The interview was recorded Dec. 20.

‘The apprenticeship guy’: CFO embraces program to bridge talent gap Jan 10, 2023

In November, Paul Young, CPA, CGMA, senior executive vice president and CFO at Liberty Bank, was part of the formal recognition by the Department of Labor of the AICPA’s Registered Apprenticeship for Finance Business Partners program. His company has been an early adopter of the program, and he’s an advocate of its value.

On this episode of the Journal of Accountancy podcast, Young speaks about the program, the questions he’s getting from other CFOs, and what he sees as the program’s future in addressing talent concerns.

Hopes for 2023: Addressing change fatigue, making creative connections Jan 05, 2023

Lindsay Stevenson, CPA, CGMA, chief transformation officer at the firm BPM, reflects on two recent conferences and shares thoughts on what might be next for remote work. The conversation also touches on her hopes for 2023, including the importance of addressing change fatigue and rebuilding relationships.

Here are links to Stevenson’s previous appearances on the JofA podcast:

“You Can’t Transform Without Missteps” in May 2022.
“How to Keep Fear From Short-Circuiting Your Career” in June 2019.

Future of Finance takeaways: Hopes for the workforce in 2023 Dec 21, 2022

When Jeannine K. Brown was a Journal of Accountancy podcast guest in September, she talked about the need for organizations to create a sense of psychological safety for employees. A few weeks back, after she had spoken at the Future of Finance Summit in Austin, Texas, Brown said that personal well-being and professional development were two vital activities that at times were neglected by people and organizations the past few years.

Brown, the founder and CEO of Everyday Lead, hopes that neglect can be changed in the coming year, with employers taking the lead by showing they care about the lives and development of employees.

Future of Finance takeaways: Talent, transformation, trust Dec 14, 2022

With the pace of change accelerating on numerous fronts, finance leaders are aiming to stay ahead on trends such as hybrid work, lack of talent, and other issues. A group shared ideas and hopes for the future at the Future of Finance Summit last week in Austin, Texas, and this podcast episode summarizes the key thoughts that emerged from the event.

The speakers in this episode are, in order:

Shifra Kolsky, CPA, CGMA, the chief accounting officer and controller at Discover Financial Services;
Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, together as the Association of International Certified Professional Accountants;
Kimberly Ellison-Taylor, CPA/CITP, CGMA, the founder of KET Solutions and a former AICPA chair; and
Tom Hood, CPA/CITP, CGMA, AICPA & CIMA’s executive vice president–Business Engagement & Growth.

The CPA’s guide to technology (and tech gifts) Dec 08, 2022

Few people in the accounting space know more about technology than Inspector Gadget.

Inspector Gadget? The cartoon character with the go-go arms from the 1980s?

Good guess, but no. The man wearing the trench coat in this case is David Cieslak, CPA/CITP, CGMA, executive vice president and chief cloud officer for RKL eSolutions and a popular speaker whose Inspector Gadget session has been a highlight of accounting conferences for many years.

Talent in 2023: What’s on the minds of company executives Dec 07, 2022

Julia Lamm is a workforce transformation partner at PwC, and in her role she hears executives’ thoughts on strategies and their concerns related to talent management.

Lamm joined the Journal of Accountancy podcast earlier this month to discuss recent PwC data related to talent — developing it, potentially reducing staff numbers, and more.

Pockets of optimism — why there’s hope amidst ‘doom and gloom’ Dec 02, 2022

Sentiment about the economy, domestically and globally, is quite low in the quarterly Business & Industry Economic Outlook Survey. In fact, the last time there was this much pessimism among U.S. CPA decision-makers was 13 years ago, according to the data.

This podcast episode takes a closer look at that sentiment, explores specific challenges, points out some signs that finance executives are optimistic for the future, and delves into the effect of all this uncertainty on company forecasting practices.

Hear the analysis of longtime survey overseer Ken Witt, CPA, CGMA, associate director–Management Accounting Research and Development at AICPA & CIMA, together as the Association of International Certified Professional Accountants.

How to make busy season fun (yes, fun) Nov 29, 2022

If the words “busy season” start your stomach churning, Rabecca Eunis, CPA, knows how you feel.

Starting her accounting career with her father’s firm, Eunis soon learned to hate the three-month grind to tax day. Her disdain grew so strong that it motivated her to launch her own firm — not to escape tax season but to find ways to make the experience less stressful and more fun.

Remembering an enthusiastic CPA who challenged the status quo Nov 22, 2022

Steve Player, a CPA with a passion for advancing the profession, recently died. Today, we pause to remember Player and the contributions he enthusiastically made to accounting.

Player generously lent his expertise to numerous Journal of Accountancy and FM magazine projects over the years, and he was a regular speaker at conferences. He did all of that with an infectious fervor.

Unearthing talent: Embracing the ‘era of professional apprentices’ Nov 17, 2022

About a year ago, the AICPA announced a new route to obtaining the Chartered Global Management Accountant designation. The path is an apprenticeship program that, earlier this week, welcomed the first three companies as official partners in the program. The Registered Apprenticeship for Finance Business Partners program was part of the festivities in Chicago at the kickoff of National Apprenticeship Week.

Tom Hood, CPA/CITP, CGMA, executive vice president–Business Engagement & Growth at the AICPA, is the guest on this edition of the Journal of Accountancy podcast to talk more about the program and where it’s headed.

Tax conference takeaways: IRS service, corporate minimum tax, and more Nov 09, 2022

CPAs April Walker, Brandon Lagarde, and Kristin Esposito all attended last week’s AICPA & CIMA National Tax Conference in Washington. Walker is a lead manager in the AICPA Tax Section, and Esposito is a director on the Tax Policy & Advocacy Team. Lagarde, a Louisiana firm leader, is chair of the Tax Practice Management Committee.

They each shared takeaways from the event and what practitioners can focus on in the future.

“You get an insight into what impacts your practice and things that you don't even know impact your practice that you learn,” Lagarde said.

IRS news, Roth conversion considerations, stopping elder financial abuse Nov 03, 2022

This episode of the podcast summarizes recent news coverage in the Journal of Accountancy, along with an article on what to consider before converting a traditional IRA to a Roth IRA. The episode highlights articles in the November issue of the magazine flipbook. Content mentioned in the episode includes:

Coverage of the AICPA & CIMA National Tax Conference: The sentiment of former IRS commissioners, along with one concern of National Taxpayer Advocate Erin Collins.
Details on the growing tax gap, according to IRS data.
NOCLAR: What CPAs in public practice and in business should know.
What to think about before converting a traditional IRA to a Roth IRA.
How CPAs can protect clients from elder financial abuse.
The Last Word feature by Andrew Hunzicker, CPA.
Technology Q&A articles about Excel’s Advanced Filter feature and comparing versions of a Word document.

Q&A: The 2 most prevalent cyberthreats for CPA firms Oct 27, 2022

Sarah Ference, CPA, is a risk control director at CNA, the underwriter of the AICPA's Professional Liability Insurance Program. She also is a co-author for the Journal of Accountancy’s monthly Professional Liability Spotlight column. In her current role, Ference advises firms of all sizes on how they can manage their professional liability risk.

In this episode, a collaboration with the Small Firm Philosophy podcast, Ference talks with Jeff Drew about what to look for in email, the danger of clicking on unfamiliar links, and more.

IRS annual inflation adjustments, negotiating a job offer, and a quiz Oct 20, 2022

Nine articles have been posted on journalofaccountancy.com since Oct. 13, which means there’s been a lot of recent news affecting the accounting profession. This episode focuses on several of those articles, which offer advice, a chance to test knowledge, and some key numbers when it comes to thinking about the 2023 tax year. Here is a list of article topics mentioned in the episode:

IRS annual inflation adjustments.
An AICPA letter seeking guidance on the corporate alternative minimum tax.
A quiz on helping clients reduce cash-handling risks.
Understanding the tax consequences of remote work.
Advice for negotiating once you’ve received a job offer.
Annual wage base and COLA announcement by the Social Security Administration.
FASB moves toward standard for fair value accounting of cryptoassets.
FASB seeks input on proposed new chapter for its Conceptual Framework.

A closer look at proposed revisions to the AICPA tax standards Oct 18, 2022

An exposure draft was issued recently by the AICPA for the Statements on Standards for Tax Services (SSTSs).

April Walker, CPA, CGMA, lead manager on the AICPA's Tax Practice & Ethics team, talks with Henry Grzes, CPA, also a Tax Section lead manager, and Dave Holets, CPA, a partner in the Crowe National Tax Services Group and chairman of the SSTS Revision Task Force, about the details of the proposed changes, including what’s new in the proposals.

Roth IRAs vs. 529 plans, job candidate questions, and an IRS extension Oct 13, 2022

News coverage on the Journal of Accountancy site touched on numerous topics recently, from financial planning advice to questions interviewees can ask employers to updates from the IRS and SEC. This episode touches on all those topics, plus it has a clip from a recent AICPA & CIMA and CPA.com Town Hall Series discussion about the CPA pipeline.

A pioneering CPA reflects on a 50-year journey Oct 07, 2022

To celebrate National Hispanic Heritage Month, Gil Vasquez, CPA, the founder of the Association of Latino Professionals for America (ALPFA), joins the Journal of Accountancy podcast to discuss the history of ALPFA and how it has evolved over the years.

The founder and managing partner of Vasquez & Company LLP talks about early struggles to land a job as a CPA and some of the work he has done serving on boards in Los Angeles.

National Hispanic Heritage Month is Sept. 15 to Oct. 15.

Guiding principles for today’s boards of directors Oct 04, 2022

Change has been the one constant for companies since 2020, and the wave of new developments is challenging corporate boards to consider a fresh approach.

The Future of the American Board, a new report from the National Association of Corporate Directors (NACD), offers a framework for boards looking for answers. Sue Cole, chair of the NACD, joins the Journal of Accountancy podcast to discuss how the NACD’s framework can be a resource for boards tasked with navigating an ever-changing corporate landscape.

‘Own your narrative’ and other advice from a Starbucks executive Sep 29, 2022

For Tiffany Willis, CPA, the role as vice president and head of investor relations at Starbucks is “an overwhelming honor.” She wasn’t always certain she would end up in such a role, and in reflecting on her life, she said that her proudest moment was “just never giving up.”

Willis also explains how finance professionals can “own their narrative” and why it’s important to be open about goals and dreams.

The importance of ‘boss moves’ when making your next career step Sep 27, 2022

Jeannine K. Brown, CEO of a talent development consultancy, worked for 17 years as an accountant, so she rightfully refers to CPAs as “my people.” She is co-chair of the AICPA & CIMA Women’s Global Leadership Summit, an event scheduled for Nov. 8–10 in Miami, and she joined the Journal of Accountancy podcast to share a few highlights from the summit’s agenda, what “psychological safety” means, and why managers should me more focused on the question “How are you doing?”

Brown, also an author and ENGAGE speaker, shared some insights about the financial aspects of subpar people management.

What small firms need to know about succession and M&A Sep 22, 2022

CPA firm partners looking to retire in the next few years need to make sure they have a succession plan in place as soon as possible.

That’s one of the messages shared in the latest episode of the Journal of Accountancy podcast, produced in partnership with the AICPA Private Companies Practice Section’s Small Firm Philosophy podcast.

A quick tour of student loan forgiveness, a quiz, and a letter to the IRS Sep 15, 2022

This express podcast episode with transcript highlights recent Journal of Accountancy news coverage of student loan debt forgiveness, an AICPA letter requesting penalty relief from the IRS, and more. The article links mentioned in the episode are:

Advice from a CPA financial planner related to student loan debt forgiveness.
A quiz on SAS 145 and its new and revised terms, and the companion article about the standards.
The specific requests in an AICPA letter to the IRS requesting penalty relief.
The September issue of the Journal of Accountancy.
A Tax Adviser article that mentions an NBA team.

Why CFOs have confidence in the midst of difficult economic times Sep 08, 2022

CFOs have “a rising confidence in their ability to manage through these challenging times,” according to Steve Gallucci, national managing partner for Deloitte’s U.S. CFO Program. He explains more about why finance chiefs are concerned and why they have a sense of hope in the face of an economic downturn in the latest episode of the Journal of Accountancy podcast.

The conversation focuses on Deloitte’s third-quarter CFO Signals report, with data from mainly large, public companies in the United States.

The ‘mixed bag’ of economic sentiment; recent IRS news; a PCAOB update Sep 01, 2022

More than half of companies hope to add employees in the next year, but many of the CPA decision-makers at those organizations remain pessimistic about the U.S. economy. Those are a few of the key takeaways from the quarterly Business and Industry Economic Outlook Survey, which was released Thursday.

Inflation is a top concern chosen by many of the respondents. Ken Witt, CPA, CGMA, associate technical director for Management Accounting Research and Development at the Association of International Certified Professional Accountants, explains some of the pain points and potential bright spots from the quarterly data.

The payoffs of RPA for one accounting firm Aug 25, 2022

Robotic process automation, or RPA, has been a buzzword in the accounting profession for several years. Despite that, many practitioners don’t have a great grasp of what RPA is and what it can do for accountants.

Wesley Hartman has spent much of the past eight years developing RPA solutions for midsize firm Kirsch Kohn & Bridge, where he is director of technology. In this episode of the JofA podcast, produced in partnership with the Small Firm Philosophy podcast, Hartman shares how he has used RPA, how RPA can help accounting firms address key pain points, and why he and his firm are so bullish on the technology that they have launched an RPA startup.

The heavier lifting that technology can accomplish for CPAs Aug 23, 2022

David Cieslak, CPA/CITP, CGMA, aka Inspector Gadget, has been following technology tools and trends for years. He took time recently to share thoughts on the Journal of Accountancy podcast, explaining how he got his nickname, the “evolutionary” vs. “revolutionary” approach he takes to analyzing technology breakthroughs year to year, and why automation should be embraced by finance professionals.

A closer look at tax items in the Inflation Reduction Act Aug 18, 2022

The Inflation Reduction Act includes several tax provisions, including a corporate minimum tax, a 1% excise tax on stock repurchase by corporations, and increased funding for IRS enforcement efforts.

Adam Schrom, CPA, director of product management at Bloomberg Tax, breaks down several aspects of the legislation and provides a history lesson in the process.

Feeling stuck or overwhelmed? Advice to help ‘calm the storm’ Aug 16, 2022

The COVID-19 pandemic led many CPAs and their employers to think deeply about mental health in ways they may not have before. Amber Setter, a former accountant and an International Coaching Federation-accredited professional certified coach, talks about signs someone may need to consider speaking with a professional about their mental health and what you can do if you notice these signs in someone else. She also gives advice on finding a mental health professional and suggests ways employers can foster staff’s well-being.

Editor’s note: This conversation was published originally in June 2021.

Advice for avoiding the data waterfall in presentations Aug 09, 2022

Tom King, CPA, has worked in corporate America and now is a professor of accounting at Case Western Reserve University. He wrote the book The Numerate Leader in part to help professionals better approach how they share data.

If the right data is presented the right way, audiences won’t simply nod their heads or completely tune out. King shares advice for how to get more “wow” and fewer yawns in this episode of the Journal of Accountancy podcast.

Why CPAs focused on the ‘core’ shouldn’t forget about exploring the ‘edge’ Aug 04, 2022

Pascal Finette, an entrepreneur, consultant, and keynote speaker, shares innovation lessons from interviews with other leaders, a story about how Pepsi set up a direct-to-consumer business, and why those fortunate enough to work remotely can develop a routine that leads to better quality of life.

Why growing knowledge is more important than proving knowledge Jul 28, 2022

Drew Niehaus, CPA, focuses on accounting advisory services and governance, risk, and compliance in his role as managing director of a firm in Texas. He shares knowledge on those and other topics in this episode of the Journal of Accountancy podcast, including where organizations should start with risk management practices, the most significant new accounting standards, and why he advises new accountants, “You’re not expected to know everything.”

The 411 from Tom Hood on the future of finance Jul 27, 2022

The role shift of the finance function was accelerated by the pandemic, and CFOs and controllers continue to adapt to provide value for their organizations. Few people have more insight on that topic than Tom Hood, CPA/CITP, CGMA, executive vice president–Business Engagement & Growth for the Association of International Certified Professional Accountants, representing AICPA & CIMA.

Hood is a featured speaker on a skills-focused webinar on Thursday about the Finance Leadership Program. He also leads a group of finance executives from large organizations, and he shared insights from that group — and what it will emphasize in the future — in this podcast conversation.

More information can be found on the following topics mentioned:

A registration link for the webinar on Thursday.
The Registered Apprenticeship for Finance Business Partners

Breaking down the top issues facing CPA firms Jul 21, 2022

IRS service issues are a top concern for firms small and large, according to results of the 2022 AICPA Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey. But those service issues are not the only concern.

Lisa Simpson, CPA, CGMA, AICPA vice president–Firm Services, and Carl Peterson, CPA, CGMA, vice president–Small Firm Interests, take a closer look at the issues and what those issues will mean for firms going forward.

2024 CPA Exam Blueprints: The trends driving proposed changes Jul 19, 2022

Today’s CPA devotes time and energy to focus on areas not even in existence a generation ago. As a result of technology and other changes in business, there is a need for updated testing of the skills needed to become a licensed CPA. Lori Kelly, CPA, lead manager–Exam Content for the AICPA, explains how the 2024 CPA Exam, based on proposed Blueprints, will look; why the changes are being proposed; and why feedback between now and Sept. 30 is vital.

Also, here are three links to related resources:

The CPA Evolution site.
The 2024 CPA Exam exposure draft.

Journal of Accountancy coverage of the release of the CPA Exam Blueprints.

A suitably summer story: One CPA’s travel quest Jul 14, 2022

Tim Keefe, CPA, CGMA, is continuing a family tradition in the profession. His grandfather, father, and two siblings have been accountants. Keefe has worked in several industries over the course of his career, and he found value in the mentorship of several people along the way.

Keefe is curious by nature, and he likes to see new places. That’s one reason he’s in the middle of traveling to every U.S. state, where he’s trying to see a professional sporting event in each. He’s also hoping to visit all the current Major League Baseball stadiums. Keefe, the subject of the Journal of Accountancy June issue’s Last Word feature, shared highlights of recent travels, why he thinks listening is so important, and more.

Also, get a summary of recent IRS news coverage by Paul Bonner on two topics:

A report that shows delayed screening of IRS new hires put taxpayer data at risk
A letter from the AICPA that calls for further measures to address the IRS backlog.

The state of risk oversight: Why structure but also agility matter Jul 12, 2022

Risk management came to the forefront for many organizations during the Great Recession. Now, in the midst of the Great Resignation and other highly disruptive events, risk management continues to be vital.

An annual report on the state of risk oversight takes a closer look into where organizations stand and what they can learn about their own gaps. Mark Beasley, CPA, Ph.D., a professor at North Carolina State University and director of the school’s ERM Initiative, explains more in the latest episode of the Journal of Accountancy podcast.

Click here for the report’s most recent edition, and for more resources, visit this page.

From the archives: How purpose can play a bigger role in business Jun 30, 2022

Harvard Business School professor and author Ranjay Gulati says that sentiment is growing among business leaders that companies have a larger role to play than simply providing shareholder value.

This episode is a rebroadcast of Gulati’s appearance on the FM podcast to discuss that topic and others highlighted in his recent book, Deep Purpose: The Heart and Soul of High-Performance Companies.

From the archives: Lessons learned after a multibillion-dollar fraud Jun 28, 2022

Aaron Beam became a millionaire in the 1980s as a corporate CFO, but his story is a cautionary tale. In this episode of the podcast, Beam discusses his tenure at HealthSouth, the fraud that occurred, and the advice he has for students and leaders to avoid repeating his mistakes.

How the Great Resignation has affected the accounting profession Jun 24, 2022

In her role at the International Federation of Accountants (IFAC), Kristy Illuzzi, CPA, CGMA, works with small and midsize entities, including CPA firms. Her conversations with those organizations around the world have brought to the surface some of the ways in which the Great Resignation is affecting the accounting profession.

In this episode, Illuzzi offers advice for organizations on flexibility, technology, and more.

Also, catch up on news related to these topics:

A PCAOB release on amended standards that apply to audits involving multiple firms.
The Supreme Court agreeing to hear a case related to an FBAR penalty dispute.
An IRS announcement about the use of voice bots for setting up tax payment plans.

A conversation with new AICPA Chair Anoop Natwar Mehta Jun 21, 2022

For Anoop Natwar Mehta, CPA, CGMA, the path to becoming chair of the AICPA board of directors might not seem traditional. First, he hasn’t worked for a public accounting firm. Second, he’s been with one company for just about all of his professional life. Mehta joined profession leaders for a discussion at AICPA & CIMA ENGAGE 2022, and this episode is a rebroadcast of that conversation from the Town Hall Series.

‘What of this should I bring back to my people?’: Highlights from ENGAGE Jun 16, 2022

AICPA & CIMA ENGAGE 22 emcee Jill Schlesinger, a CBS News business analyst, reviews some of the top moments from the event last week in Las Vegas. Schlesinger had conversations with keynote speakers and CPA profession leaders and has memories and knowledge to share from several of those conversations.

Journal of Accountancy content mentioned in this episode:

A previous JofA podcast episode with ENGAGE keynote Carla Harris.
Coverage of the keynote session with Schlesinger and former Duke University men’s basketball coach Mike Krzyzewski.
A survey showing a rise in spending on Sarbanes-Oxley compliance.
The IRS announcement about a midyear increase to the standard mileage rate.
Small business owners discuss post-Wayfair burdens with the Senate Finance Committee.

Tax update: S elections, PTE, and Sec. 1202 Jun 15, 2022

Fellow tax podcaster Damien R. Martin, CPA, (Simply Tax) perhaps put it best on Twitter: “No one can rap 1202 like Master Nitti.”

Martin was referring, of course, to IRC Sec. 1202, the exclusion for gain from certain small business stock, and one of its foremost interpreters, Tony Nitti, CPA, as Nitti spoke about Sec. 1202 and other selected business tax topics at AICPA & CIMA’s ENGAGE 22 conference in Las Vegas.

We were extremely fortunate that Nitti generously shared a bit of his mastery on Sec. 1202, S corporations, and state passthrough entity (PTE) tax elections, in this podcast recorded June 8, a day before his ENGAGE presentation.

How to build your ‘performance currency’ and how to avoid the ‘Dirty Dozen’ Jun 09, 2022

Carla Harris is an author, speaker, and executive with Morgan Stanley, and she was one of the keynote speakers at AICPA & CIMA ENGAGE 2022. In this episode, she explains the terms “powerful presence” and “performance currency” and gives advice for those seeking a career shakeup.

Also, several news articles are referenced, including the ongoing release of the IRS’s “Dirty Dozen” tax scams: part 1 on abusive CRATs and Maltese IRAs and part 2 on tax refund theft and fake charity appeals. Coverage of those scams continues on journalofaccountancy.com/news. The episode also mentions JofA coverage of a keynote session featuring former Duke University men’s basketball coach Mike Krzyzewski and the release of the PCPS Top Issues Survey.

Tips for firms implementing quality management standards Jun 07, 2022

The AICPA Auditing Standards Board (ASB) voted in May to approve new quality management standards. In this episode, Sara Lord, CPA, the chair of the ASB, explains more about what those standards will mean for firms going forward and what changes they will need to consider.

To learn more, visit the AICPA’s resource page on quality management. The AICPA has also developed a four-part webinar series to guide practitioners on the changes.

5 trends driving the importance of understanding ESG Jun 02, 2022

On May 24 in New York, the AICPA and CPA.com hosted the inaugural ESG Symposium, bringing together a group of accounting leaders, investors, standard setters, and others to exchange ideas and perspectives on environmental, social, and governance (ESG) issues.

One presenter and a leader in the ESG field is Ami Beers, CPA, CGMA, senior director–Assurance and Advisory Innovation at the AICPA.

In the episode, Beers explains the reasons for increased focus on ESG, what she took away from the symposium, and what’s coming next. She mentions several resources that can be found online. One good place to start is the AICPA’s ESG-focused resource page.

An interest in flight, a path to CFO: ‘All about determination’ May 31, 2022

J’Maine Chubb, CPA, CGMA, studied avionics in high school and also took an interest in a law career. He followed a familial career path, however, becoming an accountant, and he discusses some of that journey in this episode of the Journal of Accountancy podcast. Chubb, now the CFO at TravelWifi, was previously CFO of the Houston Airport System, where he worked for almost six years.

Read more about Chubb in the JofA’s Last Word feature from the May issue.

‘You can’t transform without missteps’: A CPA leader’s career advice May 26, 2022

About three years ago on the Journal of Accountancy podcast, Lindsay Stevenson, CPA, CGMA, spoke about how to get over fearful moments in our careers. That topic is revisited in this episode, a follow-up conversation with Stevenson, now the chair of the AICPA Women’s Initiatives Executive Committee.

Stevenson talks about CPAs and their comfort zones and discusses some of the key points in her career journey.

Also, get a summary of recent Journal of Accountancy coverage of a report on the IRS’s calculation of recovery rebate credit eligibility.

Reevaluate metrics in pursuit of innovation May 24, 2022

Amy Radin, the author of The Change Maker’s Playbook: How to Seek, Seed and Scale Innovation in Any Company, serves on the board of directors for the Association of International Certified Professional Accountants. She wrote for FM magazine on how CFOs can enable innovation in late 2020. And, in early 2021, Radin was a guest on the FM podcast to discuss establishing innovation metrics.

Innovation and metrics are the topic for this episode, in which Radin talks about how innovation principles can play a role in an organization’s financial planning and analysis (FP&A) functions. In two weeks at AICPA & CIMA ENGAGE 22, Radin is co-presenting with Tom Hood, CPA/CITP, CGMA, executive vice president–Business Engagement and Growth for the Association of International Certified Professional Accountants.

Burnout’s telltale signs and how leaders can better understand them May 19, 2022

Burnout at work was a concern even before the COVID-19 pandemic quickly left so many people isolated. The components of burnout are heightened now, according to author Britt Andreatta, Ph.D., in a December interview.

In this episode of the Journal of Accountancy podcast, you can hear more about burnout and how it can affect overall mental health. Stefan van Duyvendijk, Accounting Operations Evangelist with FloQast, shares data about burnout among accountants, explains why some of us struggle to see the signs of burnout, and offers advice for managers.

Why a busy-season debrief has value, and why it’s not just for tax teams May 17, 2022

How soon is too soon to have a debrief after busy season? And what should be the goal of such a debrief? Those topics are addressed in a special crossover episode with the AICPA Town Hall series. Hear three CPAs discuss the topic, how it’s applicable to more than tax season, and how firm leaders of different sizes approach the debrief. The full Town Hall episode is here, and the speakers in this segment are:

Lisa Simpson, CPA, CGMA, vice president–Firm Services at the Association of International Certified Professional Accountants;
Brandon Lagarde, CPA, director of the Tax Services Group at Postlethwaite & Netterville; and
Brent Forbush, CPA, CGMA, managing partner of Forbush & Associates.

The conversation is a follow-up to an article Lagarde and Forbush co-authored in early 2020 in The Tax Adviser.

Also, learn about the IRS response to a TIGTA report that noted the IRS destroyed millions of unprocessed information returns.

A finance transformation case study, plus a news roundup May 12, 2022

This episode of the podcast focuses on a busy week in news and a story of finance transformation in action. Janis Parthun, CPA, and Steve McKechnie, leaders in RGP’s finance transformation practice, explain how a recent client engagement led to efficiencies for the client, a global food and beverage company, and lessons learned for RGP.

Also, here are links to Journal of Accountancy articles mentioned in the news roundup:

S. sanctions that include a ban on providing accounting and management consulting services to Russia.
A TIGTA report on e-filing and the IRS.
Puerto Rico residents get guidance on claiming the child tax credit.
TQAs provide guidance on auditor reporting.

Helping build a better tax system May 10, 2022

Because of their training and experience, CPAs are rightly considered the foremost providers of tax services to taxpayers. Some CPAs also serve the taxpaying public at large — with appreciation for Congress’s task to enact equitable tax laws and the IRS’s job to diligently and fairly administer them — by recommending improvements to both. They can do so in many ways, but in this episode, we’ll explore two paths: the AICPA’s volunteer tax committees and a council directly advising the IRS’s top leadership — from the experience of a longtime trailblazer, Jeff Porter, CPA.

CPA tech talk: When it comes to transformation, where do you start? May 05, 2022

Donny Shimamoto, CPA/CITP, CGMA, is one of two accounting firm leaders presenting at AICPA & CIMA ENGAGE on where to begin when it comes to starting a technology-focused advisory practice. Client advisory services (CAS) are a growing opportunity for firms, so the presentation by Shimamoto and Liz Mason, CPA, is timely.

In this episode, Shimamoto takes a look back — at how firms and CPAs in general worked to integrate technology — and a look ahead — to what advisory services could look like in the future.

Mental health matters: How asking the right questions can help May 03, 2022

May is Mental Health Awareness Month, and it’s the focus of this episode of the Journal of Accountancy podcast. Kari Hipsak, CPA, CGMA, senior manager–Firm Services at the AICPA, explains why mental health matters to her and shares advice for how managers and organizations can better promote mental health of their staff.

Several resources are mentioned in the episode:

Hipsak’s interview about mental health on the What’s Your “And”?
PCPS mental health resources.
A recent Journal of Accountancy article on companies expecting to increase pay for employees.

What CPAs should know, and ask, about NFTs Apr 28, 2022

Sean Stein Smith, CPA, CGMA, DBA, is speaking June 7 at AICPA & CIMA ENGAGE on the blockchain ecosystem. Nonfungible tokens (NFTs) are a part of that ecosystem. In this podcast episode, Stein Smith explains what NFTs are and aren’t, how baseball cards or other physical items can be “tokenized,” and more.

Also, get an update on two recent IRS items, related to estate and gift tax proposed changes and the public input sought on prioritization of tax issues.

Resources

Here are three recent JofA articles about NFTs:

Hard at times but also rewarding: A CPA’s career leap to India Apr 26, 2022

Sandi Matthews, CPA, CGMA, was ready for a new adventure when she was hired in 2018 as an accounting manager for not-for-profit Khan Academy. It was not just a new job she accepted — it was a role in a faraway location.

Matthews helped to establish Khan Academy’s subsidiary in India in its early days. She’s now head of finance, and in this podcast episode, Matthews discusses the barriers she faced moving from North Carolina to New Delhi, advice for others considering an international assignment, and why she recommends visiting a new country as a resident instead of as a tourist.

The invaluable sounding board: Learning from other CFOs Apr 21, 2022

Denise Dettingmeijer, CFO of Randstad North America, is part of a panel discussion at AICPA & CIMA ENGAGE in June in Las Vegas. In this podcast episode, she previews the theme of that session and explains why having fellow CFOs “along the same part of the journey” is helpful.

Dettingmeijer also shares advice on how professionals can get the most out of attending a conference.

Also, here are links to other JofA coverage mentioned in the episode:

Paul Bonner’s coverage of progress reported in Treasury’s equity action plan.
Brannon Poe, CPA, on why converting to the cloud has advantages related to a firm’s exit strategy.

ENGAGE emcee: Why inflation could cause retirement U-turns Apr 19, 2022

Jill Schlesinger, a CBS News business analyst, author, and podcast host, built her brand as a purveyor of financial advice in part through radio call-in shows. She’s a seasoned speaker on all things money and the guest on this episode of the Journal of Accountancy podcast. Schlesinger is slated to be an emcee at AICPA & CIMA ENGAGE in June in Las Vegas, where she looks forward to hearing more about how accounting and finance professionals are adapting to “accelerants” related to the economy and office work.

Schlesinger also explains more about how inflation may keep some people working or send some retirees back to work.

The power of belief — and how it differs from arrogance Apr 14, 2022

“If anybody wants to accomplish anything, at some point, they have to believe it’s possible.” Those are the words of this episode’s guest, mental performance coach Chris Palmer. He discusses why belief is important, how it can be confused at times with arrogance, and why growing a sense of belief in ourselves can be done.

Also, get an update on several IRS-related issues, including an update to Schedule K-2 and Schedule K-3 FAQs and news of a Government Accountability Office report on the 2021 tax filing season.

The value of asking the question, ‘What brings you joy?’ Apr 12, 2022

John Garrett is rarely at a loss for words. A former CPA turned stand-up comic, Garrett these days is a speaker, podcast host, and author, and he’s a repeat guest on the Journal of Accountancy podcast for good reason. This episode puts a 2022 spin on two previous discussion topics: advice for presenting to groups and the tie-in between outside passions and work.

And make sure to listen to Garrett’s wardrobe story before packing for that in-person work meeting or conference.

Also, hear a summary of news from the IRS commissioner’s testimony at a Senate Finance Committee hearing.

CPA Q&A: Parenthood in the pandemic and finance purpose statements Apr 07, 2022

Floyd Amuchie, CPA, has been the corporate controller at Virgin Galactic, the space travel company, for about a year. In this episode, Amuchie discusses his early fascination with astronomy, why the phrase “lift as you climb” is meaningful to him, what parenting a newborn was like during the pandemic, and why “invest” is part of his career advice to aspiring CPAs.

Also, hear a summary of two recent news items related to the IRS:

The IRS has eased the application process for U.S. residency certification.
The IRS issued proposed regulations that would revise the premium tax credit’s affordability test.

Co-creating the future of finance: A leadership group’s quest Apr 05, 2022

CFOs and other finance leaders “are all on the same quest” to transform finance into more of a value partner, according to Tom Hood, CPA/CITP, CGMA, executive vice president–Business Engagement and Growth for the Association of International Certified Professional Accountants.

Hood’s 2021 conversations with finance leaders led to the formation of the Future of Finance Leadership Advisory Group, which continues to grow in numbers and share knowledge about what it will take to upskill its talent and transform the finance function.

In this podcast episode, Hood shares insights coming from the group’s recent virtual meeting and explains the vision for 2025 and beyond.

FP&A: A new niche — and an expanded definition Mar 31, 2022

Chris Ortega is speaking on multiple topics at AICPA & CIMA ENGAGE in June. One topic is a guide for CFOs on people and process optimization. Ortega, CEO of the consulting firm Fresh FP&A and a regular speaker at financial planning and analysis events, delves into the critical role CFOs played at the start of the pandemic and why he says FP&A practices are evolving. Also, hear his advice about vulnerability and taking chances and more.

Plus, get a summary of recent JofA news coverage on these topics:

What companies are doing to recruit and retain employees.
A closer look at how “SECURE 2.0” would expand retirement savings options.
The obstacles faced by the Biden administration’s proposed billionaire minimum tax.

New SEC rules proposed to help investors better understand SPACs.

Audit transformation: Automation is one small step in the journey Mar 29, 2022

Transformation of the audit goes beyond simply automating rote tasks, as Amy Pawlicki, vice president–Assurance and Advisory Innovation at the Association of International Certified Professional Accountants, explains in this episode.

She details some of the ways that audits can be more data driven while still complying with standards.

The interview with Pawlicki is part four of a series on audit evolution in action. Here are links to the previous three parts:

An introduction to the topic, including the key drivers of the transformation.
A closer look at audit data analytics with two firm leaders.
The importance of “digital mindset” in audit transformation.

New strategies to grow the profession’s pipeline Mar 24, 2022

In the midst of the Great Resignation, organizations need continued vigilance when it comes to recruiting job candidates. As it relates to the hiring of CPAs, this episode touches on advice and a new program that can help businesses cast a wider net for talent.

Beth Berk, CPA, CGMA, writes in a recent Journal of Accountancy article that “hiring professionals need to go about their recruiting efforts differently than they did in years past.” The article offers reminders and strategies for identifying accounting candidates.

And, there’s a new program that can help organizations get a head start on linking up with candidates. Joanne Fiore, an AICPA & CIMA vice president, explains the benefits of the Registered Apprenticeship for Finance Business Partners program, an effort recently approved by the U.S. Department of Labor.

Advice for building strong personal connections in a hybrid world Mar 22, 2022

Steven Harris was not always the outgoing firm leader he is today. Harris, the subject of The Last Word in the March issue of the Journal of Accountancy, said he struggled to connect with other professionals early in his career, but once he learned to be vulnerable and to listen, he was able to form strong bonds. Harris calls that connection breakthrough “magical.”

He shares advice on emphasizing collaboration in a hybrid work environment and discusses the talent development tie-in to bringing work back into the office. Harris also explained his affinity for OneNote and the movie The Godfather.

Not-for-profit audits in a remote world, plus IRS news Mar 17, 2022

A rapid shift to auditing remotely was especially challenging for CPAs who audited not-for-profit entities. Those NFPs might not have had top-of-the-line technology when the COVID-19 pandemic changed so much about the world two years ago, including the ability of auditors to visit client sites.

To learn more about the state of remote auditing of NFPs, hear insight from accounting firm principals Kelly Rancourt, CPA, and Deetra Watson, CPA, CGMA. Rancourt works for Clark Nuber, a firm in the Seattle area, and Watson is employed by the North Carolina firm Blackman & Sloop.

Grappling with Schedules K-2 and K-3 Mar 16, 2022

K-2 — isn’t that a mountain?

K2 is, but to tax professionals and with the hyphen, it’s Partners’ Distributive Share Items — International (and, for S corporations, a similar form), the new schedule filed with the returns of passthrough entities with “items of international tax relevance” and partners in foreign partnerships. Along with its “twin peak” of Schedule K-3, Partner’s [or Shareholder’s] Share of Income, Deductions, Credits, etc. — International, these formidable forms have been much discussed by CPAs and other tax practitioners lately. Here to help us better understand them is John Samtoy, CPA, who has written about Schedules K-2 and K-3 for the Tax Insider newsletter recently.

Recruiting, flexible working, and tax season issues for small firms Mar 15, 2022

Some issues facing small CPA firms are the same as those facing large firms or other organizations — talent retention, change management, and more. But there are some issues that are specific to small firms, and potentially more acute, as explained in this Journal of Accountancy podcast episode with Carl Peterson, CPA, CGMA, the AICPA’s vice president–Small Firm Interests.

Also, learn about recent JofA coverage of criticism of the updated Form 1099-K reporting threshold.

The power of technology to change how CPAs think about value Mar 10, 2022

Amy Vetter, CPA/CITP, CGMA, wrote in 2021 that advanced technology for CPA firms was no longer a nice-to-have option; it’s a requirement. Vetter shared more about the future of tech-enabled CPA work in this podcast episode.

In addition to looking forward, she also looked back — all the way to the 1930s, telling a story about her grandfather’s time as a CPA and some of what she learned about him through one simple email.

How to make sure your organization is empowering women Mar 08, 2022

Tuesday, March 8, is International Women’s Day. To celebrate the day, the guest on this podcast episode is Kimberly Ellison-Taylor, CPA, CGMA, the founder and CEO of KET Solutions and a former AICPA board chair. Ellison-Taylor has seen gains for women in public accounting partnerships, and in business and industry, but she stresses that more work must be done.

Ellison-Taylor also explains how women can be self-advocates, how organizations can provide opportunities for advancement, and why she disagrees with a colleague’s notion that she is a “legend.”

The reasons for positive economic sentiment — and why that could change Mar 03, 2022

CPA decision-makers in business and industry in the United States maintained an overall positive outlook for their organizations, but plenty of factors could sour that sentiment quickly.

Hear or read the analysis of Bob Sannerud, CPA, CGMA, a CFO in the Midwest, and Ken Witt, CPA, CGMA, an associate director from the Association of International Certified Professional Accountants, representing AICPA & CIMA. They discuss the reasons for optimism and pessimism in the Business and Industry Economic Outlook Survey and some of the challenges facing business in the year ahead.

PowerPoint rules to live by Mar 01, 2022

How many slides should be in a PowerPoint presentation? What are some steps to ensure your presentation has a consistent format? Byron Patrick, CPA/CITP, CGMA, has answers to these questions. He’s one of the Journal of Accountancy’s Technology Q&A authors, the general manager at Botkeeper, and someone always looking to improve presentation skills.

In this podcast episode, Patrick expands on some of his advanced PowerPoint tips from the November issue of the JofA and discusses ways to avoid common PowerPoint mistakes.

The value of clear, concise written communication Feb 24, 2022

Robin Thieme, CPA/CITP, CGMA, the CEO and founder of KBS CFO, was consulting remotely well before she was forced to do so by the COVID-19 pandemic, so communicating with clients who were not in the same room was familiar. Still, the changes society and business experienced in early 2020 forced her to learn new skills and alter her communication style and strategy.

In this episode, she shares advice on the value of written communication, why it’s important to continue developing virtual presentation skills, and more.

Firm ownership can be intimidating; here’s how to overcome those fears Feb 22, 2022

In the February edition of The Last Word, Ozlem Davis, CPA/CFF, alluded to some aspects of firm ownership as being “scary.” In this podcast episode, she explains more about why she had those fears, how she has overcome them, and how she escapes the pressure of work.

Gratitude: How a helping hand can spark a great career Feb 17, 2022

Calvin Harris, CPA, senior vice president of finance and CFO of the National Urban League, says he would not be in the position he is in today without the help of numerous mentors.

In Part 1 of the conversation, Harris explained why donations at the National Urban League increased in 2020 and what the organization did with that revenue. In Part 2, hear more about the role mentors have played in his career, how he mentors finance professionals, and why diversity initiatives should go beyond press releases during Black History Month.

Also, hear more about Journal of Accountancy articles on IRS updates related to K-2 and K-3 reporting requirements and instructions for reporting on cryptoassets.

The value of ‘connection to the mission’ for one not-for-profit CFO Feb 15, 2022

Calvin Harris, CPA, the CFO of the National Urban League, is the Journal of Accountancy podcast guest for a two-part conversation this week. In this first part, Harris explains why the National Urban League was well positioned to receive an increase in donations at the onset of the COVID-19 pandemic in 2020, what the organization did with that revenue, and how he approaches retention and development of employees.

Also, get caught up on recent JofA coverage of not-for-profits’ focus on technology investment and learn more about research showing why CFOs “should learn to let go.”

IRS service issues: What a coalition of tax pros seeks to change Feb 10, 2022

Tax season is well underway, and the AICPA is part of a coalition asking for the IRS to make tax filing go smoother. The coalition has made recommendations to improve IRS service issues, and in this episode those recommendations are detailed by Melanie Lauridsen, the AICPA’s senior manager for Tax Policy & Advocacy.

Also, get a summary of recent news coverage on IRS service challenges and the IRS reversing course on the use of facial recognition.

What CAS practice leaders should focus on in 2022 and beyond Feb 08, 2022

“We have to focus on culture,” says Jennifer Wilson, partner and co-founder of Convergence Coaching LLC. She’s talking about firm leaders and how they can better position themselves to take advantage of the growing opportunities related to client advisory service (CAS) offerings.

Also, get article overviews on the following news items:

A new process for appealing partial PPP loan forgiveness
An announcement on IRS staff reassignments.
Government warnings about potential cyberattacks.
Comments sought by the AICPA Auditing Standards Board on a proposal related to compliance audits.
An update from the AICPA Peer Review Board on clarified standards.

A blockchain glossary, the CPA firm of the future, and Excel malware Feb 03, 2022

Two CPAs are featured in this episode, which also highlights news of a rapid rise in malware attacks related to Microsoft Excel add-ins. First, Di Krupica, CPA, CGMA, of the Association of International Certified Professional Accountants, discusses the creation of the Blockchain Universal Glossary. Next, Mark Koziel, CPA, CGMA, the CEO of Allinial Global, shares some of the ways CPA firms can integrate with technology, how business models and firm structure might change, and more.

The 3 components of burnout, and why they are heightened now Feb 01, 2022

As humans, “we are wired to see change as a warning sign of danger,” says Britt Andreatta, Ph.D. Andreatta is the author of Wired to Resist and other books, and she is a speaker and consultant to a wide variety of organizations. She was a featured speaker at the Future of Finance Summit, a meeting of finance executives, in December.

With all the change and uncertainty people have faced because of the COVID-19 pandemic, employees are, to use another Andreatta description, “crispy.” In this podcast episode, she explains why change is difficult and why now is the time for leaders to spend even more time focusing on employee well-being.

Sales tax: Nearly 4 years after Wayfair, what’s on the horizon Jan 27, 2022

Sales tax compliance is complicated and ever-changing. Diane Yetter, CPA, the president of Yetter Tax and the Sales Tax Institute, shares knowledge on the current landscape related to several sales tax topics. Hear or read the discussion on compliance since Wayfair, how some states are supplying resources to automate sales tax compliance, and advice for remote sellers when considering sales tax risks.

Also, hear more about the AICPA’s role in pointing out taxpayer frustration to the IRS, more on IRS procedures for employee status determinations, and audit committee members’ opinions on audit quality.

What one CPA calls ‘the best job in the world’ Jan 25, 2022

Nancy Bagranoff, CPA, DBA, didn’t think she was going to become an accountant. But a General Electric training program opened doors for her, and she learned that she was well suited to the CPA profession. These days, Bagranoff passes on accounting lessons as a university professor.

Plus, learn some of the highlights of the January issue of the JofA: an overview of the annual tax filing season quick guide, knowing when and how to raise fees at your firm, and tech-based tips to improve expense reporting.

Grow yourself, others, and the business: Q&A with a Nike leader Jan 20, 2022

Favorite books, a craving for constant change, and building a finance “powerhouse” — all of those topics and more are part of this interview with Tanner Johnson, CPA, CGMA, vice president–Global Finance Operations at Nike. Johnson explains how his upbringing shaped him, what the phrase “there is no finish line” means to him, and how he manages a remote team. The episode is a continuation of a series of interviews from finance leaders who attended the Future of Finance Summit in December in Nashville, Tenn.

Developing empathy and why it’s OK not to have all the answers Jan 18, 2022

Ginnie Carlier, CPA, EY’s Americas vice chair for Talent, says that leadership’s focus has expanded beyond four walls and into being understanding of employees’ work and home lives. In this podcast episode, hear her thoughts on developing empathy, the importance of “office hours,” and why a focus on well-being is growing in importance.

The difference between managing change and change management Jan 13, 2022

One key to implementing change initiatives is understanding the why and what problem you’re trying to solve, according to Jennifer Elder, CPA/CFF, CGMA. Another component, Elder says, is having a way to measure a change initiative’s success. In this podcast episode recorded in Nashville, Tenn., Elder offers advice on the best approach to implementing change and comments on some of the ways organizations’ change initiatives can go awry.

Also, get up to date on news coverage of what’s new in federal taxes for 2022, what the IRS says about digital returns and filing dates and why tax season could be frustrating. And hear a summary of a recent GASB announcement regarding going concern standards.

The CPA profession’s ‘really interesting inflection point’ Jan 11, 2022

Pascal Finette, an entrepreneur and consultant, recently spoke at the Digital CPA Conference and the Future of Finance Summit in Nashville, Tenn.

In this podcast conversation with the JofA’s Neil Amato, Finette shared innovation lessons from interviews with other leaders, a story about how Pepsi quickly set up a direct-to-consumer business, and why those fortunate enough to be able to work remotely can develop a routine that leads to better quality of life.

Why a CFO needs to wear two hats Jan 06, 2022

James Miln, ACMA, CGMA, a finance executive at Yelp, identified several key takeaways from the recent Future of Finance Summit in Nashville, Tenn., which featured a collection of executives and outside experts discussing the ongoing transformation of the finance function. One point that was clear to Miln as it relates to transformation: “We’re all eyes wide open this is a journey, and it is hard.”

His voice is one of several from the Future of Finance Summit and the Digital CPA Conference that you will hear in 2022 episodes of the podcast, which will continue to cover accounting news and trends and highlight Journal of Accountancy content, such as new FASB accounting concept statements and single audit clarity related to pandemic relief programs.

A PPP loan forgiveness update and one CPA’s 2021 reflection Dec 21, 2021

This is the Journal of Accountancy podcast’s last episode of 2021. The guests in this episode are Lisa Simpson, CPA, CGMA, vice president–Firm Services at the Association of International Certified Professional Accountants, and Floyd Amuchie, CPA, the corporate controller at Virgin Galactic.

Simpson provides an update on the status of several business relief programs and a look ahead to 2022 areas of focus for the AICPA Town Hall Series. Amuchie, who recently attended the Future of Finance Summit in Nashville, Tenn., shares a few lessons learned from the event (hear a previous JofA episode for more from Nashville).

Also, get a quick preview of what the 2022 mileage rate will be for taxpayers to compute their deductible automobile costs.

A junior-high dream realized: One CPA leader’s career path Dec 16, 2021

December’s Last Word feature subject in the Journal of Accountancy is Amish Mehta, CPA, partner and nonprofit practice leader at the accounting firm Friedman LLP. Mehta explains why The Shawshank Redemption is his favorite movie, more about his path to becoming a CPA, and why it’s never too early to start networking.

Also, hear a summary of recent analysis of the Senate Finance Committee’s Build Back Better text and more on the attributes of top-performing CPA firms.

CPA leader takeaways: Listening, self-awareness, flipping the pyramid Dec 14, 2021

A group of finance leaders took an inward focus at the recent Future of Finance Summit in Nashville, Tenn. They also explored their vision for the finance function out to 2030. The group focused on listening, self-awareness, and staff development, among other topics. This episode will be the first of several discussions from the summit, which brought together a range of corporate and not-for-profit executives.

The guests in this episode, in order of appearance, are:

Tom Hood, CPA/CITP, CGMA, executive vice president of business engagement and growth for the Association of International Certified Professional Accountants;
Kimberly Ellison-Taylor, CPA, CGMA, former AICPA board chair and the founder of KET Solutions;
John Griffin, CPA, CGMA, senior vice president and controller for AARP;
Calvin Harris, CPA, senior vice president of finance and CFO of the National Urban League.

Inflation and talent: 2 top headwinds facing business in 2022 Dec 10, 2021

New challenges are emerging for businesses in the United States and old challenges are persisting, according to finance decision-makers in a recent quarterly survey. Ken Witt, CPA, CGMA, and Mellissa Reed, CPA, explain some of the headwinds and also the reasons for optimism in the future.

Digital assets: Auditing, accounting, and what’s next Dec 03, 2021

Accounting for and auditing of digital assets is evolving quickly. This episode passes on guidance from a CPA leader on the topic.

Amy Steele, CPA, is co-chair of the AICPA Digital Assets Working Group. She’s also an audit partner at Deloitte & Touche LLP and serves as the firm’s Global and US Audit and Assurance methodology leader for blockchain and digital assets. Steele is scheduled to present at the AICPA & CIMA Conference on Current SEC and PCAOB Developments. The conference agenda is here.

The episode also includes a news roundup, touching on topics that include the latest 12-month outlook of finance executives in business and industry and some of the key tax provisions in recently passed legislation.

Career advice and RPA tips from CPA leaders Nov 18, 2021

Hear from CPAs Maxene Bardwell and Jim Bourke in this week’s episode. Bardwell, the subject of The Last Word in the November issue of the Journal of Accountancy, shares more about her career path, why there’s value in volunteering and mentoring, how she brings her authentic self to work, and why there’s candy at her desk. Bourke, a speaker at the Digital CPA Conference, shares insight for firms on two of his conference topics, robotic process automation and emerging advisory opportunities.

Infrastructure analysis: The ERC’s end, and what’s next Nov 11, 2021

Ed Karl, CPA, CGMA, the AICPA’s vice president–Tax Policy & Advocacy, has followed infrastructure legislation closely. The Infrastructure Investment and Jobs Act was passed by the House on Nov. 5 and is now scheduled to be signed by President Joe Biden. But that version is different than the version approved by the Senate in August, and there remains a companion reconciliation bill to be negotiated.

Karl shares analysis on the end of the employee retention credit, the future of corporate tax rates, preparer regulation, SALT caps, and more.

“What’s our biggest risk?” Why the answer is changing Nov 04, 2021

Companies are still trying to find their way about 20 months after the onset of the COVID-19 pandemic. Their enterprise risk management (ERM) efforts were tested, as some risks were amplified and others emerged. Now, entities are trying to apply some of the lessons they learned along the way.

CPAs Mark Beasley and Paul Walker, professors who each direct ERM-focused centers at universities, discuss how risk management is changing, what organizations are worried about today, and how they can better manage risks moving forward.

Also, get updates on the formation of the International Sustainability Standards Board and these Journal of Accountancy headlines:

One firm’s succession planning success story Oct 28, 2021

The Journal of Accountancy’s October cover story shares how one firm approaches succession planning. REDW is a top 200 firm with offices in Phoenix, Albuquerque, and Edmond, Okla. Christina Roderick, CPA, CGMA, is the head of REDW’s tax practice, a role she assumed in July 2020. She talks about her succession journey, REDW’s approach to identifying succession candidates early, and more.

Also, stay up to date on news related to FASB and the IRS, and get a primer on a CPA Insider feature on a topic certain to generate discussion: Taking a nap during the workday.

Hiring for culture: How to find the best staff for your firm Oct 22, 2021

Staff who aren’t a good fit for your firm’s culture aren’t likely to stay long. In this second part of a two-part podcast, Guy Gage, founder of consulting firm PartnersCoach, talks about interview questions to ask that can determine whether a job candidate will integrate well to your culture, and other key aspects of hiring for culture.

The 4 pillars of starting or growing a CAS practice Oct 21, 2021

Client advisory services (CAS) practices are growing rapidly, and Kalil Merhib, the vice president of Sales and Client Services for CPA.com, has details. Merhib discusses the recent CPA.com & AICPA PCPS Client Advisory Services Benchmark Survey along with the opportunities for firms interested in starting or growing CAS practices.

Also, get a preview of the upcoming AICPA & CIMA Corporate Finance and Controllers Conference and an article on a conference session about building an anti-fraud wall, and stay up to date on news related to Social Security, the IRS, and the PCAOB.

What type of culture does your firm have? Oct 18, 2021

Having a good grasp of your organizational culture can help you hire the right people and adopt the right approach to change. But determining what type of culture your firm has isn’t always easy. In this first part of a two-part podcast, Guy Gage, founder of consulting firm PartnersCoach, discusses the three types of culture he sees most often in CPA firms, and ways you can tell which predominates in your firm.

A CPA leader’s approach to changing check-the-box training Oct 14, 2021

Stephanie Palmertree, CPA, CGMA, saw a need for better continuing professional education at the Mississippi Office of the State Auditor. The speakers were the same every year, and the issues weren’t necessarily the ones faced by staff at her agency. So, CPE offerings were revamped, becoming more meaningful and targeted. Palmertree explains the why and how of those changes, along with reasons for enjoying the Harry Potter book series and how she relies on her favorite tech tool.

Also, listeners can get caught up on recent news related to a new auditing standard and new PCAOB guidance on audit evidence.

Audit evolution in action: Part 3 Oct 12, 2021

Transforming the auditing practice to be more digital requires more than just new tools. It also means a shift in mindset for firms serious about taking a digital-first approach. On this episode, the third in a series on audit evolution, Alan Langelli, CPA, lead partner of the technology industry services group at Aronson LLC, shares three key reasons that adopting a digital mindset is important.

Peer review: Advancing clarity and remote procedures Oct 07, 2021

The AICPA Peer Review Board recently issued an exposure draft that includes proposed changes to AICPA standards for reporting on and performing peer reviews. Brad Coffey, CPA, an AICPA manager, explains more about the exposure draft and what the proposed changes are designed to accomplish.

Year-end tax planning advice and a grammar quiz Sep 30, 2021

Tax practitioners haven’t had it easy, with pandemic-related delays and legislative changes in the middle of tax season making their jobs more difficult. Year-end planning can’t eliminate all the uncertainty, but it can help. April Walker, CPA, CGMA, lead manager on the AICPA’s Tax Practice & Ethics team and host of the Tax Section Odyssey podcast, shares advice for practitioners as the calendar year winds down.

Also, get a “your”/”you’re” refresher, a preview of a recently published grammar quiz, and updates on news related to the IRS and the PCAOB.

Prioritization tips, sticky-note strategy, and The Princess Bride Sep 23, 2021

In the September issue of the Journal of Accountancy, Marie Brilmyer, CPA, said in The Last Word: “I think my greatest challenge has been in figuring out how to step back or when I need to step back.” In this podcast episode, Brilmyer expands on the need to prioritize and offers advice for others who may be seeking balance. Also, hear a preview of other JofA articles from the recent print issue and from our news page.

Ethics exposure drafts explained; the makings of a good cover letter Sep 16, 2021

Several ethics-related exposure drafts are in focus in this week’s episode. Toni Lee-Andrews, CPA, CGMA, the director of the AICPA’s Professional Ethics Division, shares details on three upcoming EDs, a timeline for comments to the drafts, and more about the division’s streamlined comment process. Lee-Andrews also previews two recent episodes of the division’s Ethically Speaking podcast. Visit aicpa.org/ethics for more ethics resources.

Plus, get a refresher on what makes a good cover letter, and keep up with top recent news in the Journal of Accountancy.

Tax software: What CPAs like and dislike Sep 09, 2021

For the September issues of The Tax Adviser and the Journal of Accountancy, more than 2,100 tax professionals shared opinions on tax preparation software. Editors Alistair Nevius and Paul Bonner discuss details of the annual tax software survey — what CPAs liked and disliked, and the difficulties of the most recent tax season for preparers and the software companies.

Inflation worries and a tight labor market lead to a slight dip in optimism Sep 02, 2021

Although finance executives continue to be bullish about their organizations’ economic prospects, inflation and a difficult labor market are causing concern in the CPA Outlook Index in the AICPA Business and Industry Economic Outlook Survey. Ken Witt, CPA, CGMA, takes a closer look at the findings and what they mean for companies. Also, Ebonie Jackson, CPA/CITP, CGMA, shares insights on how finance professionals and accountants can lead strategic change from her recent case study.

Also, you’ll hear the findings from the latest CPA Firm Top Issues survey, and we’ll update you on the latest from the Shuttered Venue Operators Grant program.

Updating quality management standards: What auditors need to know Aug 26, 2021

There are two committees working on developing new quality management standards for auditors. Neil Amato talks to Sara Lord, CPA, the chair of one of those committees, about the feedback they are receiving, how the new standards incorporate a risk-based approach, and the next steps in the process.

Also, Drew Adamek reviews a new study about ESG assurance opportunities and explores the potential tax implications of LIFO inventory interruptions due to COVID-19.

The key tax provisions of the Senate infrastructure bill Aug 19, 2021

The Senate recently passed a $1 trillion infrastructure bill, which includes several tax provisions being monitored by the AICPA. Ed Karl, CPA, CGMA, the AICPA’s vice president–Tax Policy & Advocacy, details several provisions in recently proposed legislation that would affect CPAs.

Also, the episode mentions recent coverage in the Journal of Accountancy on updated single audit guidance included in the Office of Management and Budget’s 2021 Compliance Supplement. And it tries to answer a question posed in a recent CPA Insider article: Will sweatpants come to the office when we return?

Better remote job interviews and ERC updates Aug 12, 2021

In the July issue of the Journal of Accountancy, Carrie Kruse, CPA, CGMA, the economic development administrator for the city of Des Moines, Iowa, wrote about how her organization improved its process for interviewing job candidates remotely. In this podcast episode, Kruse goes into detail about the types of questions asked and how the revamped process can be applied to future interviews.

Also, hear about news items related to the employee retention credit, cryptoasset reporting, and more.

Fraud advice and more on the value of client advisory services Aug 05, 2021

Businesses’ approach to fraud and internal controls has undergone drastic change as a result of the pandemic. Danielle Supkis Cheek, CPA/CITP, CGMA, the director of entrepreneurial advisory services at the firm PKF Texas, says that rules around things such as on-time payment of payroll taxes now have to be reconsidered. She shares more about the unintended consequences of pandemic-related relief, advice for applying technology to limit fraud, and more.

Also, hear more about recent articles and an AICPA & CIMA ENGAGE 2021 session on the topic of client advisory services.

Lessons in building the accounting pipeline from ENGAGE 2021 Jul 29, 2021

This week’s podcast episode brings together the voices of three presenters at AICPA & CIMA ENGAGE 2021. One common theme in their interviews is the talent pipeline — how more candidates can be drawn to the profession, how existing talent can be retained and trained in a more tech-driven business environment, and more.

Hear from AICPA board Chair Bill Pirolli, CPA/CFF/PFS, CGMA; Tom Hood, CPA/CITP, CGMA, executive vice president of business engagement and growth for the Association of International Certified Professional Accountants; and former AICPA board Chair Kimberly Ellison-Taylor, CPA, CGMA.

Audit evolution in action: Part 2 Jul 28, 2021

The auditing profession was already in the midst of transformation, thanks to technological advances and other factors. Then, the COVID-19 pandemic came along and accelerated those changes, further challenging auditors and their view of business as usual. Part 1 was an overview of the audit landscape. In part 2, speakers Carolyn Newman and Jon Cardiello, CPA, share insight into the topic of audit data analytics and how the tools can help to continue the transformation of auditing.

Cybersecurity advisory opportunities for firms of all sizes Jul 22, 2021

Cybersecurity is a rapidly expanding opportunity for firms to offer advisory services. In a preview of an ENGAGE 2021 panel, Journal of Accountancy senior editor Neil Amato speaks with Steven Ursillo, CPA/CITP, CGMA, partner, risk assurance and advisory national leader at Cherry Bekaert, about how firms of any size can identify, prepare for, and take advantage of cyber advisory opportunities.

Also, Drew Adamek covers the IRS’s new Tax Pro Account and recent changes to FASB lease accounting standards.

At 2021’s midpoint, what’s on the minds of CFOs? Jul 15, 2021

CFOs have reasons to be positive, but they also have several reasons to be concerned. Ways of working are changing, with employees seeking to continue the flexible arrangements that became the norm during the COVID-19 pandemic. Steve Gallucci, national managing partner for Deloitte’s U.S. CFO Program, shares insights into the minds of CFOs in the latest episode of the Journal of Accountancy podcast.

Also, hear more about a recent FM magazine series that focused on the top skills finance professionals need for the future, along with coverage of recent U.S. Small Business Administration news on the Restaurant Revitalization Fund and the Paycheck Protection Program, and a quality management proposal by the AICPA Auditing Standards Board.

Why single-audit demand is rising; an update on tax preparer legislation Jul 08, 2021

The number of organizations needing single audits has risen dramatically in the past year. Why? Deetra Watson, CPA, CGMA, an accounting firm principal, explains some of the intricacies of single audits and why demand is increasing for such specialized services. Also, Ed Karl, CPA, CGMA, the AICPA’s vice president–Tax Policy & Advocacy, shares an update on the Taxpayer Protection and Preparer Proficiency Act.

Accounting as a STEM career; more on ‘Dirty Dozen’ tax scams Jul 01, 2021

The AICPA supports proposed legislation that would categorize accounting as a STEM career, with STEM standing for science, technology, engineering, and mathematics. Diana Deem, CPA, CGMA, an AICPA director of congressional and political affairs, shares more about the thinking behind and the AICPA’s support for the bill. Also, hear from the JofA’s editor-in-chief, tax, about the annual IRS list of “Dirty Dozen” tax scams.

What you’ll learn from this episode:

More about the Accounting STEM Pursuit Act, recently introduced in Congress.
Examples of how accounting has transformed since one of Deem’s early roles.
Insight into the annual IRS list of “Dirty Dozen” tax scams and why this year’s release of the list is different.
The reasons that stimulus payments are one focus of scammers.
Summaries of JofA articles on business continuity planning as a tool to fight fraud, and Supreme Court news related to taxation of remote workers.

Audit evolution in action: Part 1 Jun 29, 2021

The auditing profession was already in the midst of transformation, thanks to technological advances and other factors. Then, the COVID-19 pandemic came along and accelerated those changes, further challenging auditors and their view of business as usual. As auditing continues to transform, Sue Coffey, CPA, CGMA, the Association’s CEO of public accounting, and Jennifer Burns, CPA, CGMA, the Association’s chief auditor, explain some of the drivers behind audit transformation — where it began and where it’s headed.

What you’ll learn from this episode:

An overview of the auditing landscape and why a transformation discussion is happening now.
Insight into the key drivers of that transformation.
The specific challenges the COVID-19 pandemic created for auditors.
Details on the AICPA Auditing Standards Board’s work to update certain standards.
New ways or new tools to approach auditing differently.

The return of business travel; an NFL draftee’s view of failure Jun 24, 2021

Business travel is on the way back, according to survey and anecdotal data, as well as the line at airport security. Donny Shimamoto, CPA/CITP, CGMA, is someone accustomed to regular travel, with set routines and preferences. That all changed when the COVID-19 pandemic took hold, and so Shimamoto had to adapt. He reflects on what he learned from being at home and from being back in airports and onsite with a client.

Also, ENGAGE 2021 panelist Jeremy Bloom, a former world champion in skiing and NFL wide receiver, shares his views on sport specialization at a young age, why our view of failure should be reframed, and what kind of skiing he prefers these days.

Signs you or a colleague could use mental health support Jun 21, 2021

The COVID-19 pandemic led many CPAs and their employers to think deeply about mental health in ways they may not have before. Amber Setter, a former accountant and an International Coaching Federation–accredited professional certified coach, talks about signs someone may need to consider speaking with a professional about their mental health and what you can do if you notice these signs in someone else. She also gives advice on finding a mental health professional and suggests ways employers can foster staff’s well-being.

Understanding the global minimum tax and the growing risk of ransomware Jun 17, 2021

The G7 announced a framework for a global minimum tax last week. In this episode, Amy Wang Miller, CPA, J.D., senior manager with the AICPA’s Tax Policy & Advocacy team, explains what the framework means, what accounting and finance professionals can expect next, and what the future of a global minimum tax looks like.

Also, we explore the growing risks and cost of ransomware with Gerry Glombicki, CPA, a director with Fitch Ratings insurance group, and how organizations should be approaching ransomware.

Advice for meeting efficiency and more on the new AICPA board chair Jun 10, 2021

Many of our meetings in 2021 look far different from the meetings we had in 2019 or early 2020. That doesn’t mean they can’t be improved with the help of technology. In this episode, Technology Q&A co-author Byron Patrick, CPA/CITP, CGMA, shares insight into the ways that automation tools can help meetings go smoothly.

Also hear some of the advice new AICPA board Chair Bill Pirolli, CPA/CFF/PFS, CGMA, has for providing excellent client service.

Reasons for rising economic optimism; how to ‘be your own agent’ Jun 03, 2021

Several factors are contributing to finance decision-makers’ growing optimism about the economy and their own businesses, according to a quarterly survey. Ken Witt, CPA, CGMA, shares insight into that positive sentiment, along with a look at hiring and the headwinds facing organizations.

Also, hear the words of an AICPA & CIMA ENGAGE 2021 speaker on her path to becoming a sports agent and her advice on advocating for yourself.

A closer look at paid tax preparer regulation May 27, 2021

In a letter to the IRS, the AICPA recently offered recommendations on six key areas of regulation of paid tax return preparers. A senior manager on the AICPA’s Tax Policy & Advocacy Team explains more about why the recommendations are needed.

Also, learn more about a recent popular article on delivering and receiving feedback.

What you’ll learn from this episode:

Why it’s important for the IRS to address the issue of unregulated tax return preparers.
Insight into preparer tax identification numbers (PTINs) and IRS authority over them.
Why the current process to revoke a PTIN can be “time-consuming and costly.”
An explanation of supervised, nonsigning return preparers.
More on a recent JofA article about delivering and receiving feedback.
News on the issuance of nonauthoritative guidance for auditing digital assets, and economic trends to watch.

A professional athlete’s frugal approach to what’s next May 21, 2021

Amobi Okugo, a pro soccer player, is scheduled to be part of a sports-themed panel discussion at AICPA & CIMA ENGAGE 2021. He has continued to pursue education and business opportunities off the field, and he hopes to be a role model as a “frugal athlete.” Hear more about Okugo’s history and his plans. Also, get a refresher on where the term “imposter syndrome” came from, how many of us it affects, and what we can do to beat it.

What you’ll learn from this episode:

Why Okugo says that mega-millionaire athletes are anomalies.
How he approached spending money when he was first chosen in the Major League Soccer draft.
The agreement he made with his parents about pursuing his college degree.
Tips from a recent JofA article on defeating imposter syndrome.
A summary of two recent articles related to the IRS.

Supporting AAPI talent in May and beyond May 20, 2021

May is Asian Pacific American Heritage Month, and the conversation in this podcast episode is meant to celebrate that and to offer organizations reminders on how they can support employees of Asian descent. The group is sometimes referred to as Asian American and Pacific Islander, or AAPI.

Lisa M. Ong, CPA, is a DEI (diversity, equity, and inclusion) consultant who says that May is always her busy season because that’s when organizations most often seek an AAPI speaker. Ong shared specific advice and actions for individuals and organizations seeking to support AAPI talent.

For more resources on this topic, visit the AICPA’s Diversity and Inclusion page. You can also learn more about Ong’s organization, Wishing Out Loud.

Be more productive while doing less work May 17, 2021

CPA firms are often more productive and profitable when owners work less, according to Brannon Poe, CPA, owner of Poe Group Advisors in Charleston, S.C. In this podcast episode, Poe, who has more than 15 years of experience buying and selling CPA firms, explains how delegating work can free owners to focus on what matters most. He also gives advice for determining which work you should delegate and how to do so with fewer worries.

Potential pitfalls for a return to in-person work May 13, 2021

How an organization frames the discussion around bringing staff back together in the office matters. Jennifer Wilson, partner and co-founder of Convergence Coaching LLC, expands on her recent Journal of Accountancy article about reopening mistakes for organizations. Wilson is a speaker at AICPA & CIMA ENGAGE 2021 on the topic of managing a blended workforce (view the full ENGAGE agenda here).

Also, hear a reminder about playing to your strengths from another ENGAGE 2021 speaker, executive coach Rhonda Peterson.

Managing your personal energy for success May 10, 2021

Life and work in the pandemic era can be exhausting. Stress can make it difficult to focus on and execute your goals. ENGAGE 2021 speaker Rhonda Peterson believes taking the time to care for and nurture one’s energy can improve your career success, increase your businesses’ profitability, and provide a deeper sense of fulfilment. Peterson shares her tips for discovering the activities and stresses that drain your energy, making it harder to succeed, and for uncovering the endeavors that bolster your energy.

What you’ll learn from this episode:

Why your personal energy matters and how it affects your life, business, and career.
How to identify significant energy drains in your life.
How to find activities that improve and boost your energy.
Why managers should be paying attention to their team members’ energy levels and how they can help improve them.
The best way to develop a personal energy protection habit.

Excel depreciation advice; risk management lessons learned May 06, 2021

A recent Journal of Accountancy article by Kelly Williams, CPA, Ph.D., detailed eight ways to calculate depreciation in Excel. Williams, one of two CPA authors of the Technology Q&A feature, shares why it’s helpful to CPAs to have so many methods and which one she prefers. She also talks about Flash Fill as a preview to her Excel session at AICPA & CIMA ENGAGE 2021 in July.

In the second interview segment, Mark Beasley, CPA, Ph.D., says one key part of enterprise risk management (ERM) is breaking down silos. Beasley, the director of North Carolina State University’s ERM Initiative, joined the JofA podcast for a discussion of lessons that can be pulled from a recent survey on risk management. An article on the survey appeared on the website of FM magazine.

Also, listen to news on a proposed standard by FASB and an update on Paycheck Protection Program funding from the U.S. Small Business Administration.

Tom Hood on leadership and adapting to a role stretch Apr 29, 2021

CFOs and other leaders have been forced to adapt to challenging and fast-moving circumstances as a result of the COVID-19 pandemic. Tom Hood, CPA/CITP, CGMA, the executive vice president of business growth and engagement for the Association of International Certified Professional Accountants, reflects on what finance leaders have learned in the past year and previews two of his sessions at the upcoming AICPA & CIMA CFO Conference.

Employee retention credit updates and a delegation taboo Apr 22, 2021

The IRS has issued updated guidance on several aspects of the employee retention credit. April Walker, CPA, CGMA, lead manager on the Tax Practice & Ethics team at the AICPA, touches on the highlights, including filing options for claiming the credit, an extension of penalty relief, and several key questions that have yet to be resolved.

What you’ll learn from this episode:

What recent IRS notices have addressed regarding claiming the credit in 2021 and penalty relief.
Two critical questions about the credit that have yet to be addressed by the IRS.
One common mistake that a CPA firm leader says managers should avoid when delegating tasks.
Updates on a bill’s passage in the House of Representatives and other news.

Primers on creativity and mental toughness Apr 15, 2021

Two featured speakers at the AICPA & CIMA CFO Conference, Josh Linkner and LaRae Quy, are sharing previews of their conference sessions in this episode. Linkner discusses how organizations can foster creativity, even in supposedly noncreative jobs, and how that creativity can lead to everyday innovation. Quy, an author and former FBI agent, shares details on the importance of mental toughness.

What you’ll learn from this episode:

Keynote speaker and innovation expert Josh Linkner’s explanation for calling himself a “creative troublemaker.”
Why Linkner believes we shouldn’t link creativity to someone’s job title.
The harrowing story of an FBI agent’s first ride-along and how it underscored the importance of mental toughness.
The reasons our cerebral brain and emotional brain must work together.
Updates on new treatment of excess premium tax credits, an extended comment period for an AICPA Auditing Standards Board exposure draft on quality management, and the Shuttered Venue Operators Grant program’s rough start.

Uncovering your 'buried life' and other mental-health tips Apr 14, 2021

Ben Nemtin, the keynote speaker May 5 at the AICPA & CIMA Employee Benefit Plans Conference, thought he was going on a two-week road trip with some friends 15 years ago. That trip lasted years, changing his life and those of many others they encountered. Nemtin also shares why it’s more important these days to talk about mental health, along with some of the inspiration he got from seeing complete strangers realize a few bucket-list dreams.

What we can do to increase the number of Black CPAs Apr 12, 2021

African Americans are still underrepresented in the accounting profession: Only 2% of CPAs are Black. In this second part of a two-episode podcast, we look at what the profession can do to increase the number of Black CPAs.

Guests Ruth Harris, the first Black female CPA in Virginia, and Frank Ross, one of the founders of the National Association of Black Accountants (NABA), share their experiences as Black CPAs and educators, and Theresa Hammond, Ph.D., author of A White-Collar Profession: African American Certified Public Accountants Since 1921, shares her perspective as an accounting professor and scholar of CPA history.

This podcast is associated with the Black CPA Centennial Campaign, a yearlong celebration and recognition of the impact of Black CPAs upon the profession.

PPP and tax advice for not-for-profits; honoring pioneering CPAs Apr 08, 2021

The requirements for Paycheck Protection Program applicants who are not-for-profits are different from those for for-profit businesses. Dave Moja, CPA, a member of the AICPA Not-for-Profit Advisory Council, explains some of those differences and more about completing Form 990 and Form 941.

Also, hear a section of a two-part podcast series that documents the triumphs and struggles of some of the first Black CPAs.

The struggles and triumphs of the first Black CPAs Apr 05, 2021

In this first part of a two-episode podcast, we take a look at the remarkable accomplishments of Black CPAs in the 20th century, featuring the testimony of two CPAs who witnessed Black CPA history firsthand: Ruth Harris, the first Black female CPA in Virginia, and Frank Ross, one of the founders of the National Association of Black Accountants (NABA). Theresa Hammond, Ph.D., author of A White-Collar Profession: African American Certified Public Accountants Since 1921, adds historical context.

This podcast episode is associated with the Black CPA Centennial Campaign, a yearlong celebration and recognition of the impact of Black CPAs upon the profession.

Details of the April 15 postponement and a primer on SVOG Apr 01, 2021

Alistair Nevius, J.D., the JofA’s editor-in-chief, tax, explains the differences between IRS announcements on March 17 and March 29 regarding the postponement of 1040 tax filing and payments from April 15 to May 17. He highlights what’s changed, what hasn’t, and one question regarding how the IRS will handle estimated tax payments on a 2020 return filed after April 15.

Also, to prepare for the opening of the U.S. Small Business Administration’s Shuttered Venue Operators Grant program, hear advice from Kristy Illuzzi, CPA, CGMA, a senior technical manager and staff liaison to the AICPA Private Companies Practice Section’s Technical Issues Committee.

Why the tax filing extension does not help everyone Mar 25, 2021

Some individual taxpayers still have forms to complete and payments to make by April 15. That’s one reason the AICPA believes that the IRS extension from April 15 to May 17 didn’t go far enough.

Ed Karl, CPA, CGMA, the AICPA’s vice president–Tax Policy & Advocacy, explains the reasons that the AICPA believes more relief should be given and why a June 15 date is more appropriate.

The episode also mentions the schedule of upcoming AICPA conferences, tips for using LinkedIn, and other news.

Ethics considerations for assisting clients with PPP documents Mar 22, 2021

When it comes to applications for Paycheck Protection Program loans or PPP loan forgiveness, a one-size-fits-all approach to assisting clients won’t work. Some clients will need more help than others, and there are ethical implications for how CPAs provide that assistance. Iryna Klepcha, CPA, and Toni Lee-Andrews, CPA/PFS, CGMA, of the AICPA’s Professional Ethics Division discuss some of the ethical questions that have surfaced as CPAs are assisting clients with PPP loan and forgiveness applications. Their guest is Kelly Hunter, CPA, shareholder at FRK & Co. and a member of the AICPA’s Professional Ethics Executive Committee (PEEC).

What you’ll learn from this episode:

Why AICPA guidance has changed since PPP applications were first available.
How firms can maintain independence when assisting with preparation of documents for nonattest clients.
Details on scenarios CPAs could face when clients ask them for assistance with PPP loan forgiveness applications.
More from Hunter on his advice: “Don’t impair independence if you don’t have to.”
Some of the questions coming into the AICPA’s Professional Ethics Division hotline.

A new risk management tool, and PPP and tax deadline updates Mar 18, 2021

Risk management has always been important, and it came to the forefront for many organizations in 2020. A new risk heat map tool from the Association of International Certified Professional Accountants can help measure and manage risks. Lori Sexton, CPA, CGMA, a senior technical manager for management accounting, explains some of the features of the tool and how those features can expand an organization’s risk management function.

What you’ll learn from this episode:

Explanation of a heat map’s role in effective enterprise risk management.
More on the risk heat map tool’s addition of a qualitative aspect for evaluating risk.
Why simple awareness of a risk is not enough to manage it well.
Highlights of the JofA’s coverage of the Paycheck Protection Program and a change in the filing deadline for individual income taxes.

A CPA leader’s view on the rise of women in the profession Mar 12, 2021

“With women in particular, small moments matter.” Those are the words of Lara Abrash, CPA, chair and CEO of Deloitte & Touche LLP, about how seemingly inconsequential decisions can have a big effect on how women advance in the workplace. Hear more of Abrash’s thoughts on promoting diversity and on why the time was right for Deloitte to publish a new report on its workforce composition.

What you’ll learn from this episode:

The career advice Abrash received from her mother.
Abrash’s advice for how employers can better support women.
Why Deloitte decided to release its inaugural Diversity, Equity, and Inclusion Transparency Report.
Why the AICPA is pushing for extensions to the Paycheck Protection Program application deadline and the individual tax filing date.
The tax-related questions CPAs and their clients may have regarding certain 2020 unemployment benefits.

Employee retention credit guidance update and rising economic confidence Mar 04, 2021

On March 1, the IRS issued guidance on the employee retention credit. April Walker, CPA, CGMA, lead manager on the Tax Practice & Ethics team at the AICPA, explains the highlights of that guidance, including how the credit interacts with PPP loans. Also, Ken Witt, CPA, CGMA, senior manager for management accounting and member engagement at the AICPA, shares the important details of the latest AICPA Business & Industry Economic Outlook Survey.

What you’ll learn from this episode:

Key points of the 102-page guidance from the IRS on the employee retention credit.
What the IRS guidance did not yet address.
How finance executives feel about the domestic economy and their own businesses in the coming 12 months.
The top challenges listed by CPA decision-makers.
The business sectors that showed rising optimism.

Black CPA pioneers, PPP’s narrowed focus, and a FASB alternative Feb 25, 2021

Do you know the name John Wesley Cromwell Jr.? Do you know the specific businesses targeted recently for Paycheck Protection Program loan applications? This express version of the JofA podcast gives you more on those topics, along with details on an accounting alternative related to goodwill impairment that FASB is expected to issue soon.

Cromwell became a CPA 100 years ago, and his story as the first Black CPA is part of a year-long effort to honor, celebrate, and build upon the progress Black CPAs have made in shaping the accounting profession. You’ll also hear the voice of Lester McKeever, CPA, another pioneering Black accountant.

Also, catch up on what a White House statement means in the short term for PPP loan applications. And hear from Mike Cheng, CPA, a member of the AICPA Private Companies Practice Section Technical Issues Committee, on the significance of a recent FASB accounting alternative.

CPA news to know: Why mobile workforce tax legislation matters Feb 18, 2021

Earlier in February, numerous amendments to the 2021 fiscal year budget resolution were voted on by the Senate. One of those nonbinding amendments, which passed unanimously by a voice vote, could lead to a lessening of an administrative burden for many employers and employees.

The amendment related to mobile workforce legislation, introduced by Sen. John Thune, R-S.D., and supported by Sen. Sherrod Brown, D-Ohio, would extend the de minimis threshold to work in a state as a nonresident before owing state income taxes or being subject to withholding.

It also would provide that during the pandemic, employers could withhold as they did prior to the pandemic or provide flexibility for employers to track where remote work is performed. It also would provide that employers would not have a nexus or apportionment impact by having a remote worker in a nonresident state during the pandemic.

The AICPA has long supported and continues to support mobile workforce legislative proposals. The AICPA submitted comments in support of the bill on numerous occasions and issued a Feb. 8 press release on the passage of the Senate budget resolution amendment on mobile workforce legislation. For more on the development of mobile workforce legislation, see Yesnowitz, Sherr, and Bell-Jacobs, “AICPA Focuses Advocacy Efforts on Mobile Workforce Legislation,” in The Tax Adviser.

What you’ll learn from this episode:

Background on the AICPA’s interest in mobile workforce tax legislation from Eileen Sherr, CPA, CGMA, director of the AICPA Tax Policy & Advocacy team.
Why the legislation could be significant.
FASB’s recent response to a pandemic-related accounting concern.
Several highlights from the JofA’s February print issue, including more on tax penalty relief and Excel’s Ideas feature.

Pursuing quality in relationships — and audits Feb 11, 2021

A recent survey showed that a majority of couples have experienced relationship stress because of finances. So, how can couples openly communicate about money? Mike Landsberg, CPA/PFS, shares a few reminders. Also, Sara Lord, CPA, a member of the AICPA Auditing Standards Board (ASB), expands on the board’s recent exposure draft related to quality management. The comment period on the ED runs through June 11, and comments can be sent to CommentLetters@aicpa-cima.com.

Identity theft tips and PPP-related employee retention credit changes Feb 04, 2021

The onset of COVID-19 meant that more people became online shoppers out of necessity. Ordering groceries by phone or computer also means more of us are putting potentially sensitive information online. Robert Westley, CPA/PFS, shares advice to avoid becoming a victim of identity theft, expanding on the tips in a recent Journal of Accountancy article. Alistair Nevius, J.D., the JofA’s editor-in-chief, tax, explains more on recent legislative changes to the employee retention credit. Also, the AICPA Auditing Standards Board has issued proposed standards designed to change the way firms manage quality in their accounting and auditing practices.

CPA news to know: PPP vigilance and the start of tax season Jan 29, 2021

Paycheck Protection Program (PPP) loans and the start of tax season are two topics squarely on the minds of CPAs these days. This episode analyzes the Jan. 25 update by the U.S. Small Business Administration (SBA) about processing second-draw loan applications and looks at what recent IRS announcements mean for tax season. Kari Hipsak, CPA, CGMA, a senior manager at the Association of International Certified Professional Accountants, and Alistair Nevius, J.D., the JofA’s editor-in-chief, tax, are the guests for this quick look at recent news that affects the accounting profession.

What you’ll learn from this episode:

Why PPP loan applicants should be patient and vigilant.
The practical applications of the SBA’s recent update.
A preview of the JofA’s February print issue.
What the announced date that the IRS begins accepting tax returns means for practitioners and filers.
Effects of the Consolidated Appropriations Act, 2021 (CAA), P.L. 116-260, on tax season.

PPP loan forgiveness and taxes: Part 2 Jan 28, 2021

Earlier, Eileen Sherr, CPA, CGMA, MT, a director of the AICPA’s Tax Policy & Advocacy team, discussed prospects for reversing by legislation the IRS’s position regarding deductibility of business expenses paid with loan proceeds from the Paycheck Protection Program (PPP) that are ultimately forgiven. Now, that legislation has been enacted, by the Consolidated Appropriations Act, 2021 (CAA), P.L. 116-260. Sherr returns to outline that and other changes. Plus, we look ahead to possible developments during 2021 in tax legislation and pandemic relief.

What you’ll learn from this episode:

What the CAA resolved regarding deductibility of business expenses paid by loan proceeds from the PPP, along with other AICPA advocacy priorities — and what remains unresolved.
Possible emphases for tax legislation going forward from the Biden administration and the new Congress.
Ongoing pandemic-related tax relief measures and advocacy at the federal and state levels.

The latest advice on PPP loans Jan 15, 2021

Accountants played a crucial role in helping millions of organizations, most of them small businesses, receive $525 billion in Paycheck Protection Program loans last year.

Now, the PPP is back and businesses will again be looking to CPAs for advice and assistance in accessing the program, which provides forgivable loans that borrowers can use for payroll and other essential expenses as the COVID-19 pandemic continues to roil the economy.

What do CPAs need to know about the new PPP? How is it different from the program that ran for five months before its loan application window closed in August? And what should accountants be doing to help businesses access the $284 billion available in the PPP’s second iteration?

Those topics and more are addressed by Erik Asgeirsson, president and CEO of the AICPA’s business subsidiary CPA.com, and Lisa Simpson, CPA, CGMA, the AICPA’s vice president–Firm Services.

What you’ll learn from this episode:

When lenders can start submitting PPP loan applications to the U.S. Small Business Administration.
Details about the new PPP second-draw loans.
Why many banks won’t be submitting PPP applications at the beginning of the application period.
What the AICPA has been doing to support the accounting profession with the PPP over the past nine months.
Why it is important for PPP borrowers to have two paths they can take in pursuing a second-draw PPP loan.
More information about the CPA Business Funding Portal (see link in resources below).
What CPAs can do to help businesses prepare for increased SBA scrutiny of PPP loans.
The importance of helping businesses know their E-Tran number from their first PPP loan.
Why firms will play a more important role in the second round of the PPP.
The importance of keeping the intent of the PPP in mind when choosing the accounting method for calculating the decline in gross receipts to determine whether a business qualifies for a second-draw loan.
Whether a business seeking second-draw PPP loans must spend all its first-draw PPP loan before the second-draw funds are disbursed.
That some banks may require PPP borrowers to file for forgiveness on their first loan before processing a second-draw application.

Why investing in employees matters more than ever Jan 13, 2021

In late 2020, Robert Half’s Paul McDonald delved into the hiring outlook for 2021. The second part of that conversation addresses the ways organizations can keep those already on staff during COVID-19. McDonald, Robert Half’s senior executive director, says the businesses that already had strong culture in place were better equipped to adapt to COVID-19. He offers advice for managers, details on their retention concerns, and insight into what employees are looking for beyond flexible work arrangements.

What you’ll learn from this episode:

The reasons nearly 90% of senior managers are worried about losing talent.
The steps companies and managers can take to show that they value employees.
Why McDonald says company culture is more like an ocean liner than a speedboat.
The types of nonfinancial benefits workers are seeking in the absence of raises.
The steps employees can take to make themselves more marketable.
McDonald’s thoughts on what office work might look like in 2022.

Help clients make the most of 2020 charitable giving Dec 16, 2020

As the year draws to a close, many clients are pursuing charitable giving. Mike Landsberg, CPA/PFS, partner at Homrich Berg in Atlanta, discusses what he’s seeing in terms of charitable giving this year, how the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, has affected giving, and how clients can use giving to save on taxes while contributing to causes that matter to them.

What you’ll learn in this episode:

Why 2020 is a good year to give to charity. (1:43)
How the CARES Act has affected charitable giving. (2:47)
Giving strategies clients can use to save on their taxes (5:03), even if they’re not high-net-worth. (8:25)
How to start talking about charitable giving with your clients. (8:59)
One way to help clients specifically interested in COVID-19 relief. (11:11)

PPP loan forgiveness and taxes Dec 11, 2020

Eileen Sherr, CPA, CGMA, MT, director of the AICPA’s Tax Policy & Advocacy team in Washington, D.C., discusses recent IRS guidance regarding the tax treatment of loans under the U.S. Small Business Administration’s Paycheck Protection Program (PPP). This guidance holds that the amount of a PPP loan that is forgiven under the SBA’s procedures is not included in the loan recipient taxpayer’s gross income, but any expenses used to qualify for the forgiveness cannot be deducted on the taxpayer’s income tax return as an ordinary and necessary business expense. We also look ahead to what the change in presidential administration in 2021 might spell for a broad range of taxpayers.

What you’ll learn from this episode:

How PPP loan forgiveness is excluded from taxpayers’ gross income for income tax purposes, but the IRS regards related business expenses as nondeductible.
The progress of efforts by members of Congress to clarify in new legislation that the PPP forgiveness-related expenses are intended to be deductible as ordinary and necessary expenses of loan recipients.
What form advocacy on this issue by the AICPA and its members is taking.
How and when tax law changes proposed by the Joe Biden–Kamala Harris presidential campaign might be reflected in a proposed budget by the Biden administration.

The 2021 hiring outlook, salary negotiation advice, and more Nov 30, 2020

The COVID-19 pandemic has caused unprecedented hiring freezes, job losses, or furloughs in 2020. While the outlook on hiring remains somewhat unsteady, there are reasons for optimism, according to Paul McDonald, the senior executive director at staffing firm Robert Half.

In this episode, McDonald discusses the roles and certifications that are in demand, how remote work’s rapid rise has affected organizations’ approach to recruiting and hiring, and why the broad unemployment rate is not one that McDonald pays attention to the most. McDonald is the guest on the Journal of Accountancy podcast for the first of a two-part conversation. The second part, focusing on company culture and retention concerns, will be posted in early 2021.

What you’ll learn from this episode:

The types of jobs that continue to be in high demand in the United States.
How organizations are rethinking geographic obstacles to hiring.
Why McDonald says that a preliminary discussion about salary is not a negotiation.
The specific unemployment statistic that McDonald tracks.
The ways organizations are adapting their pursuit of talent.

The value of gamifying CPE learning Nov 12, 2020

Kelly Richmond Pope, CPA, CGMA, Ph.D., is an accountant and a professor. She’s also a storyteller and TEDx speaker. Keeping people engaged is a better way to educate, said Pope, an associate professor at DePaul University’s School of Accountancy and MIS in Chicago. In this episode, Pope discusses another way to keep learners engaged: gamification. Turning learning into a game helps with the recall and understanding of new concepts, whether in a college classroom or continuing professional education for accountants.

What you’ll learn from this episode:

Examples of gamification that are already part of our daily lives.
How learning to drive a stick-shift car applies to gamification.
Why gamification is not just for younger generations.
How COVID-19 has disrupted traditional CPE and how virtual meetings could be better for learning in some cases.
How a speaker’s style can help maximize learning through PowerPoint slide presentations.
The ways organizations can gamify CPE-worthy content such as podcasts or TED Talks.

How CPA parents cope during the pandemic Oct 26, 2020

Several months into the pandemic, we take a look at how some CPA parents are faring. They talk about the struggles they’ve faced, how they balance parenting and working from home, what they do to recharge, and the unexpected joys they’ve experienced while spending more time with their families. Our guests for this episode are Lindsay Stevenson, CPA, CGMA, and Chris Hervochon, CPA. Stevenson is vice president of finance at 1st Financial Bank in North Sioux City, S.D., founder and CEO of Origin Evolution LLC, and mom to three sons: a 19-year-old college student, a 17-year-old high school student, and a 7-year-old second-grader. Hervochon is the owner of Chris Hervochon CPA, located in Hilton Head Island, S.C., and dad to a 7-year-old boy and 4-year-old twins.

COVID-19 lessons for not-for-profits Oct 14, 2020

In an economic downturn such as the one that resulted from the coronavirus pandemic, not-for-profit organizations can feel pinched in two ways. People who have lost jobs or fear losing them may be less likely to donate to the NFPs at a time the services offered by the organizations are needed most. Strategies and models must be changed to find new opportunities and deal with the challenges presented on multiple fronts. Amy West, CPA, CGMA, the CFO of AHRC in New York City, shares advice on how to adapt and find new paths during tough times. West also is a member of the AICPA Not-for-Profit Advisory Council.

How 2020 has changed corporate board work Oct 12, 2020

Corporate board work may have changed forever as a result of COVID-19. The lessons corporate directors take away from the pandemic will be critical to company survival and success beyond 2020. Paula Loop, CPA, the leader of PwC’s Governance Insights Center, explains in this podcast episode how boards have been changed and what they’re thinking about as they navigate the pandemic’s effect on business. What you’ll learn from this podcast episode: - Why Loop says now is the time to learn lessons and be better prepared for the next crisis. - Why there seems to be a disconnect between board members and corporate crisis management plans. - The lessons boards have learned about digital transformation, customer habits, and corporate real estate needs. - The board topics on which male and female directors differ.

Cannabis and CPAs: The business opportunities and risks Sep 21, 2020

Cannabis for medicinal or recreational use is a fast-growing business, and the advisory opportunities for accountants in the industry are also growing. Along with those opportunities are emerging issues on the regulatory and risk fronts. Ron Seigneur, CPA/ABV, the managing partner of Colorado firm Seigneur Gustafson LLP, shares more on the topic, including what to look for in proposed federal legislation. What you’ll learn from this episode: - An explanation of the difference between cannabis, hemp, and marijuana. - More on the cannabis-specific guidance for accountants offered by the AICPA and the National Association of State Boards of Accountancy. - The professional risks to consider before adding clients from cannabis-related industries. - The COVID-19 pandemic’s effect on cannabis businesses. - Why legalization in some states does not mean those states become cannabis epicenters. - How legislation could change the landscape for cannabis businesses.

Implementing the payroll tax deferral, part 2 Sep 11, 2020

This podcast episode follows up one posted on Aug. 20 about President Donald Trump’s memorandum directing Treasury to defer the withholding, deposit, and payment of workers’ 6.2% Social Security or Railroad Retirement tax for the last four months of 2020. Since then, Treasury and the IRS have issued much-anticipated guidance on just how the deferral applies and how the taxes are likely to have to be repaid. Ed Karl, the AICPA’s vice president–Tax Policy & Advocacy, described the memorandum in the first podcast episode. Now he returns to describe what the guidance in Notice 2020-65 provides — and what it still leaves unclear. He has also written a post on the AICPA Insights blog titled “Employee Payroll Tax Deferral — Is It Workable?” that outlines what CPA advisers can tell their business clients with employees about the deferral. What you’ll learn from this episode: -The notice puts the responsibility for deferring — and repaying — the taxes squarely on employers. -Although the notice doesn’t say so directly, it is clear that employers do not have to participate in the deferral. -The deferred taxes must be ratably repaid in the first four months of 2021 from wages and compensation of an employee whose payroll taxes were deferred. But what about an employee who leaves the job before that happens or a business that goes under? Employers “may make arrangements to otherwise collect” the taxes from the employee. The notice doesn’t elaborate on how they might do that, so we hypothesize. -We assess efforts that are afoot in Congress on the one hand to forgive the deferred taxes entirely and to overturn the president’s memorandum on the other.

Insight on hiring, top challenges, and more from U.S. finance execs Sep 08, 2020

Finance executives in the United States are more confident about their own businesses than about the overall economy. Why is that? And what is the hiring outlook for companies for the next 12 months? Ken Witt, CPA, CGMA, a senior manager for management accounting and member engagement at the AICPA, provides further detail and analysis on the quarterly Business and Industry Economic Outlook Survey, the last before the Nov. 3 presidential election. What you’ll learn from this episode: - How finance leaders view the domestic economy and their own businesses. - Why election season brought about a change to the list of top challenges this quarter. - The component in the CPA Outlook Index that ranks higher than others by a wide margin. - The business sectors showing improvement and the ones that continue to struggle. - How the pandemic may be changing the real estate needs of businesses.

Teleworking and state and local taxes Aug 24, 2020

This episode explores the huge implications for state and local taxes raised by workers more often untethered from the employer’s physical location, sometimes in another state. And now, during the COVID-19 pandemic, remote teleworking has become the rule for many professions. Eileen Sherr, CPA, MT, and Mo Bell-Jacobs, J.D., bring us up to speed. Sherr is a senior manager with the AICPA’s Tax Advocacy team in charge of the AICPA State and Local Tax Technical Resource Panel, or SALT TRP, and Bell-Jacobs is a senior manager at RSM National Tax in Washington and a member of the SALT TRP.

Implementing the payroll tax deferral Aug 20, 2020

In this podcast, we touch base with Ed Karl, the AICPA’s vice president–Tax Policy & Advocacy, to discuss questions the AICPA Tax Executive Committee has raised in official comments to Treasury and the IRS concerning President Donald Trump’s Aug. 8 memorandum ordering Treasury to defer the withholding, deposit, and payment of payroll taxes imposed by Sec. 3101(a) — better known as the employee portion of Social Security tax, currently 6.2% of covered wages and compensation — and a comparable rate of tax under Sec. 3201 — that’s the Railroad Retirement tax — for Sept. 1, 2020, through the end of the year. We’ll explore the range of issues that Treasury and the IRS face as they implement this order and what it all could mean for employers and employees.

6 new business realities in the pandemic era Aug 13, 2020

The changes brought about and accelerated by the COVID-19 pandemic are numerous. Our day-to-day lives have been altered, forcing rapid adaptation. A new report from the Association of International Certified Professional Accountants and EY Seren, explores the patterns of behavior emerging from this uncertain time. The report, Human Signals, also offers actions for accountants to take. This podcast, the second of two parts, takes an in-depth look at what the report’s findings mean for leaders and organizations. In part one, Association CEO and AICPA President and CEO Barry Melancon, CPA, CGMA, shared more about this transformational time. Then Joel Bailey, a director at EY Seren and a report author, delved into the research behind the report. In this second part, executive coach and consultant Gretchen Pisano offers practical applications from the report and discusses how its findings dovetail with what she’s hearing from leaders. Pisano is the CEO and co-founder of pLink Leadership, a management consultancy that provides leadership development and executive coaching.

7 human behavior insights you need to know Aug 13, 2020

The changes brought about and accelerated by the COVID-19 pandemic are numerous. Our day-to-day lives have been altered, forcing individuals and organizations to adapt quickly. A new report from the Association of International Certified Professional Accountants and EY Seren explores the patterns of behavior emerging. The report, Human Signals, also offers advice for accountants in an era of uncertainty. This podcast is the first of two parts that take a closer look at the report’s findings and action items. In this episode, Association CEO and AICPA President and CEO Barry Melancon, CPA, CGMA, shares more about this transformational time. Then Joel Bailey, a director at EY Seren and a report author, delves into the research behind the report. In the second part, executive coach and consultant Gretchen Pisano offers practical applications from the report and discusses how its findings dovetail with what she’s hearing from leaders.

What you probably didn’t know about racism in the workplace Aug 03, 2020

The culture of a workplace, be that in a company or an accounting firm, determines how employees and customers are treated, says Stephanie Creary, an identity and diversity scholar and professor of management at the Wharton School of the University of Pennsylvania. To assess how racism is a factor requires open, frank conversations and leaders willing to listen and learn what they probably didn’t know. What you’ll learn from this episode: - Starting conversations about racism with Black Lives Matter and police violence may not be the most effective thing to do. - An expert or coach can facilitate conversations about racism, help people work with their emotions, and create learning environments. - It’s necessary to customize diversity and inclusion training based on the roles and positions people hold in the organization. - Programs that succeed in recruiting and mentoring Black employees involve everybody in the organization.

Pandemic-related legal risks that you can’t afford to ignore Jul 20, 2020

These days, it’s tough to know the best next steps for organizations that are reopening to customers or employees — or considering doing so. Lee Terry, who practices corporate and securities law for the Denver firm Davis Graham & Stubbs, has advised organizations and CFOs for years on crisis management. Terry offers insight into the legal concerns that organizations are facing and this advice on future business planning: “You cannot rely on the same kinds of estimates and expectations that you have in the past.”

How the new audit evidence standard can improve audit quality Jul 14, 2020

The new principles-based standard on audit evidence, issued last week by the AICPA Auditing Standards Board, addresses issues such as emerging technology, professional skepticism, and expanding sources of information. Jay Brodish, CPA, a partner at PwC, and Bob Dohrer, CPA, CGMA, the chief auditor of the AICPA, discuss the standard in detail, explaining how it can be applied to today’s evolving business climate.

A tax marathon check-in Jul 01, 2020

We check back in with two AICPA leaders: Ed Karl, the AICPA’s vice president–Tax Policy & Advocacy, and Chris Hesse, a tax principal in the National Tax Office of CliftonLarsonAllen in Kennewick, Wash., who also chairs the AICPA Tax Executive Committee. They’ll update us on how the 2020 marathon of a tax return filing season is going, whether the coronavirus-related return due date delay until July 15 is long enough, and what other relief taxpayers and their CPAs need.

Working from home: What does the future hold? Jun 29, 2020

The work-from-anywhere revolution received a jolt in March, when office workers were sent home because of concerns about the spread of COVID-19. More companies were embracing flexible work practices before the pandemic, but now that movement has been accelerated. Tom Hood, CPA/CITP, CGMA, the CEO of the Maryland Association of CPAs and the Business Learning Institute, shares insight into the future of remote work, why a company’s approach to flexible work can define its culture, and more.

Recognizing and rooting out racism: Advice for leaders Jun 15, 2020

Laura Morgan Roberts, Ph.D., a professor at the University of Virginia’s Darden School of Business, is an editor of the recent book 'Race, Work, and Leadership: New Perspectives on the Black Experience'. She has studied race in the workplace extensively. With attention on racial disparities sparked by killings and then protests, the time is right for organizations to hear her message. Morgan Roberts shares insight on why some organizations and leaders resort to silence instead of speaking about racism, why it’s easier to talk about diversity and inclusion than about race, the qualities of an effective public statement, and what follow-through after the statement looks like.

The technology — and human — lessons of COVID-19 May 22, 2020

Our ninth annual technology roundtable podcast was initially recorded in early March, just before the coronavirus pandemic started wreaking havoc on American lives and the economy. With the world at a dramatically different place than when we first recorded, the roundtable participants agreed to hold another call May 6 to discuss the impacts of COVID-19 on accounting, accounting technology, and accountants themselves. Participating in the episode are two of the top technology experts in the accounting space: Donny Shimamoto, CPA/CITP, CGMA, founder and managing director of IntrapriseTechKnowlogies LLC, and Amanda Wilkie, a consultant with Boomer Consulting. They are joined by small firm owner Nikki Winston, CPA, who leverages technology to provide accounting services and CPA Exam coaching through her firm, The Winston CPA Group.

The hard trends that matter more than ever now May 18, 2020

A hard trend can be defined as a predictable, future fact. While it’s tough to predict the price of oil or the direction of the stock market daily or weekly, finance professionals can focus on hard trends to have a better understanding of where business is heading. Tom Hood, CPA/CITP, CGMA, the CEO of the Maryland Association of CPAs and the Business Learning Institute, shares insight into three hard trends and why they matter for accountants now.

State and local taxes during the pandemic May 06, 2020

Eileen Sherr, CPA, CGMA, a senior manager in the AICPA’s Tax Policy and Advocacy team in Washington, D.C., describes her work with volunteer members of the AICPA’s Technical Resource Panel for State and Local Taxation and with state CPA societies as they advocate with state tax authorities for coronavirus-related taxpayer relief at the state and local level, and resources for keeping track of each jurisdiction’s response. What you’ll learn from this episode: - In what ways state tax filing and payment relief measures do and don’t correspond to those of the federal government. - What further provisions the AICPA has recommended for state and local tax administrative and filing and payment relief during the pandemic. - Links to AICPA resources for learning more about state and local tax relief provisions and guidance related to COVID-19.

How family businesses can stay resilient during the COVID-19 crisis Apr 30, 2020

Jonathan Flack, CPA, the U.S. family business services leader at PwC, discusses the struggles family businesses are facing during the current economic crisis, as well as the unique strengths that can help them weather hard times such as these. He also shares advice for clients who are family business leaders, especially around communicating with staff and stakeholders. What you’ll learn in this episode: - How family businesses are faring during the current economic crisis. - How these businesses can improve liquidity during the economic downturn. - Advice for family business leaders having hard discussions with stakeholders. - The strengths of family businesses that can help them endure in this crisis. - What role continuity planning can play in crises of this nature.

How CPAs can help small businesses survive the pandemic Apr 29, 2020

CPAs are playing a vital role in helping smaller businesses cope with the COVID-19 pandemic. Julie Killian, CPA, a shareholder at Clayton & McKervey in Michigan, discusses how her firm’s clients are responding to the crisis. She also shares steps smaller businesses can take to improve their financial standing and increase their chances of staying afloat. What you’ll learn in this episode: - The relatively simple tool that’s an essential first step for businesses struggling to get a handle on their situation. - What businesses should do first if they find themselves short on cash. - Why demand for the Paycheck Protection Program (PPP) is so high. - How businesses can determine whether they’re eligible for the PPP, Economic Injury Disaster Loans, or both. - What clients should know about applying for government stimulus programs.

Quick relief with the CARES Act Apr 27, 2020

Chris Hesse, CPA, the AICPA Tax Executive Committee chair, analyzes how the CARES Act’s provisions allowing carryback of net operating losses for 2018 through 2020 interact with other new provisions.

What to know before offering client accounting services Apr 21, 2020

Mary May, principal, and Stephanie Howard, client accounting services manager, at tonneson + co in Wakefield, Mass., discuss how client accounting services can benefit both firms and clients, and share their best advice for firms that are looking to add or expand their offerings in this area.

Why companies must seriously consider board refreshment Apr 13, 2020

Boards that fall in lockstep with management decisions are neglecting one of their critical roles: being strong monitors of a company. Refreshment policies that include term or age limits are just one strategy that organizations can employ to keep their boards strong and independent. Corporate governance expert Charles Elson shares insights on board best practices.

Application advice for SBA loans Apr 09, 2020

Questions about the U.S. Small Business Administration’s Paycheck Protection Program (PPP) loans aimed at helping small businesses hurt by the coronavirus pandemic are numerous. Glen Frost, CPA, J.D., and Matthew Kraeuter, J.D., partners in the firm Frost and Associates LLC, share information on eligibility, the amount of money available, interest rates, and more.

Pandemic-specific guidance for auditors and preparers Apr 07, 2020

The consequences of the coronavirus on financial statement preparation and auditing are complex. Preparers and practitioners have not faced a disruptive event of this magnitude, so questions abound as new obstacles and scenarios present themselves. Two CPAs share guidance for preparers and practitioners.

How CPAs can fight fraud in the COVID-19 pandemic Apr 06, 2020

Coronavirus is an opportunity for fraudsters to take advantage of fear and confusion. Elizabeth Woodward, CPA/CFF, and Howard Silverstone, CPA/CFF, discuss how accountants can identify and prevent coronavirus-related fraud.

You’re suddenly WFH: An example of how to adapt Mar 31, 2020

As a local government employee, Carrie Kruse, CPA, CGMA, had almost no work-from-home experience before a few weeks ago. But Kruse, an economic development coordinator with the city of Des Moines, Iowa, has adapted well to the sudden change brought about by coronavirus concerns. She shares insights on staying efficient, knowing when to unplug, and why she won’t wear sweatpants while working at the dining-room table.

Relieving the April 15 'pressure point' Mar 28, 2020

As part of the government’s response to the coronavirus’s spread and economic fallout, the IRS postponed the deadline for income tax return filings and payments that would have been due on April 15, 2020, for 90 days, to July 15. In this episode, Ed Karl, CPA, the AICPA’s vice president–Tax Policy & Advocacy, outlines how the delay came about — and what it means for CPA tax practitioners and their clients.

Tech tips for firms responding to coronavirus Mar 13, 2020

Busy season has taken on a new meaning because of coronavirus concerns, which have forced firms and other organizations to quickly set up alternate work environments. Les Nettleton, director of information technology at New Orleans firm Bourgeois Bennett, has firsthand experience in crisis planning, having gone through Hurricane Katrina in 2005. He shares advice for organizations assessing the feasibility of longer-term remote work in response to the coronavirus.

Getting states on board: A model for partnership tax audits Mar 09, 2020

The rules have changed for IRS examinations and adjustments of partnership returns at the federal level, but are the states following suit? We’ll find out how model legislation issued by the Multistate Tax Commission, developed in collaboration with the AICPA and other stakeholders, is being adopted across the United States.

Help your staff make it through busy season Mar 02, 2020

Busy season is often the most stressful time of the year for CPAs in public accounting. Eustis Corrigan, CPA, senior managing director at CBIZ MHM in Memphis, Tennessee, a veteran of more than 30 tax seasons, shares what his firm does to support staff during busy season.

Open source information and forensic accountants Feb 17, 2020

Veteran investigator Cynthia Hetherington offers practical tips and guidance on how forensic accountants can use the open source information found on the internet to make themselves smarter, better investigators while staying within privacy laws.

Where accounting really stands with blockchain Feb 03, 2020

Erik Asgeirsson, president and CEO of CPA.com, and Ron Quaranta, founder and chairman of the Wall Street Blockchain Alliance, examine tax and accounting issues related to cryptoassets and explore assurance opportunities blockchain is creating for accountants.

Sponsored: What’s new for QBI? Jan 22, 2020

Drake Software Vice President of Strategic Development John Sapp, CPA, briefly explains the Sec. 199A qualified business income (QBI) deduction safe harbor rule and Forms 8995 and 8995-A. (Sponsored by Drake Software)

A farewell chat with Tech Q&A author J. Carlton Collins Jan 20, 2020

After nine years writing our Technology Q&A column, J. Carlton Collins, CPA, decided the end of 2019 was the right time to retire. In this episode, Collins talks about how he came up with the hundreds of technology topics he covered, how he became a good writer, and how he feels about ending his run with our most popular column.

The outlook of finance decision-makers for 2020 Jan 06, 2020

How long can cautious optimism last for an upward U.S. economy aptly described as “long in the tooth”? This episode delves into the thinking of CPA decision-makers.

Humpty Dumpty meets the tax code Dec 23, 2019

In the world of tax law, words have statutorily set definitions or are interpreted by judges using precedent and reason. Annette Nellen, Esq., CPA, CGMA, walks us through four recent decisions by the U.S. Tax Court to show how the precise application of a word or phrase can make a world of difference.

You might be a tax shelter if … Dec 18, 2019

The Tax Cuts and Jobs Act made tax accounting easier for many businesses with average annual gross receipts of $25 million or less (inflation-adjusted to $26 million for 2019). The benefits include the cash method of accounting, exemption from UNICAP rules, exemption from some inventory accounting requirements, and more. But an “exception to the exceptions” denies these advantages to tax shelters, including “syndicates.” Chris Hesse, chair of the AICPA’s Tax Executive Committee, reveals where the traps lie.

What’s next for potential CPA licensure changes Dec 16, 2019

What’s the latest on a new licensure model proposed by the National Association of State Boards of Accountancy and the AICPA? This podcast episode gets you caught up.

5 steps to a successful sale Nov 25, 2019

With mergers-and-acquisitions activity on the upswing and Baby Boomers retiring in large numbers, many owners are now looking to exit their businesses. Fentress Seagroves, deals partner for the U.S. with PwC, outlines the steps business owners can take to ensure a successful transition and discusses the many ways CPAs can support them during this process.

How the CPA Exam is poised to change Nov 18, 2019

New technologies with the power to reshape accounting, such as data analytics, are emerging all the time. Rich Gallagher, CPA, senior director of content for the AICPA Examinations team, explains how the CPA Exam is able to keep up with such changes.

Taxes and Washington’s unfinished business Nov 14, 2019

Tax planning and return filing readiness depend in no small part on the actions of Congress and the IRS and Treasury in the countdown to 2020. Ed Karl, AICPA vice president–Taxation, gives some inside-the-Beltway prognostications.

The tech trends we’ll see in 2020 and beyond Nov 06, 2019

2020 is not far away, and that means major changes related to technology are coming at us fast. The tech-focused founder of a consulting firm provides a preview.

Emerging global fraud trends Oct 31, 2019

Fraud and forensics expert Roger Darvall-Stevens explores emerging global fraud trends and what finance professionals and accountants can do to protect themselves and their firms.

Roller derby’s role in fighting impostor syndrome Oct 23, 2019

Can roller derby double as leadership development? Can we really exercise our “confidence muscles”? Jen Gardner, CPA, says yes to both.

How to make clients love your firm Oct 14, 2019

Clients who feel an emotional connection to your firm can be your greatest assets — especially in an age where accounting work is becoming increasingly commoditized. Julie Littlechild, founder and CEO of Absolute Engagement, discusses what her organization’s research reveals about how clients become truly engaged with an accounting practice.

Serious presentation tips from a stand-up comic Oct 07, 2019

John Garrett -- a stand-up comedian, widely traveled speaker, and former practicing CPA -- shares insights on how to deliver a memorable presentation at your next conference.

Subject line to salutation: Email rules to live by Sep 23, 2019

Should you use an emoji in email? Is there value in reaching “inbox zero” status? Byron Patrick, CPA/CITP, CGMA, has answers in this podcast episode.

How to manage a difficult relationship with your boss Sep 16, 2019

Karen Dillon, a former editor with Harvard Business Review and author of the HBR Guide to Office Politics, discusses assertive strategies for empowering your career when you have a rocky relationship with your boss.

Why U.S. business confidence is dropping Sep 09, 2019

What is the top challenge facing U.S. finance executives? This podcast episode explores that topic and two other fast-rising obstacles detailed in a quarterly survey.

Tips for effective not-for-profit governance Sep 03, 2019

A not-for-profit’s survival depends on high-quality oversight from its board. In this episode, learn how using the right governance strategy can help your not-for-profit thrive.

How much are college football teams worth? Aug 29, 2019

Have you ever wondered how much your favorite college football team is worth? Mark Zyla, CPA/ABV, and Dan Cohen, Esq., discuss the value of teams to universities — and the ways in which a CPA might try to determine their financial valuation.

How good are you at receiving feedback? Aug 26, 2019

Ample advice exists for managers to improve on how they deliver feedback. Less common is coaching on how to be better at receiving feedback. Rebekah Brown, CPA, director of development for the Maryland Association of CPAs and the Business Learning Institute, shares insight on receiving feedback.

Tips for overcoming workplace dysfunction Aug 19, 2019

Should you immediately tell a co-worker about a dysfunctional work environment? It’s one of several questions addressed by leadership expert Jennifer Wilson.

How CPAs can help family businesses with succession planning Aug 12, 2019

Jonathan Flack, CPA, discusses why leaders of family businesses have such a difficult time with succession planning and what CPAs can do to help them.

Recognizing and managing different personality types Aug 05, 2019

How does an “eager beaver” work best with a pessimist? This is one example of how different personality types might interact at work. Learn more in this episode.

Insight into the state of small business Jul 31, 2019

Why are small business owners optimistic? And why do they have cause for concern? A close follower of small business has answers.

Why the CPA licensure process could change Jul 29, 2019

This episode addresses how and why CPA licensure requirements might evolve as a result of the technological revolution that’s transforming the accounting profession.

A closer look at threats to CPA licensure Jul 22, 2019

Legislation in states around the country could put CPA licensure in danger. This episode examines what practitioners need to know to help ensure the profession is protected.

Implementation insight from FASB’s vice chair Jul 15, 2019

FASB vice chairman Jim Kroeker shares advice for successful implementation of accounting standards, as well as what’s on the horizon for FASB.

The father of the 401(k) on how his invention has reshaped retirement Jul 08, 2019

Ted Benna talks about how and why he came up with the 401(k), its advantages and drawbacks, how he’d change it if given the chance, and how it’s reshaped retirement.

The hiring outlook for U.S. businesses Jun 24, 2019

What is the top challenge U.S. finance executives say they are facing? This podcast explores that challenge, along with projections for the coming year.

Memo to managers: Practice what you preach Jun 24, 2019

Misty Geer, CPA, CGMA, believes that strong management goes beyond ethical behavior, efficiency, and carrying out company strategy — even though each of those is important. Managers are a key reason that employees show up to work engaged or not. Geer explains how managers can live their values, set clear expectations on schedules, engage in two-way communication, and more.

Revenue recognition tips for not-for-profits Jun 17, 2019

Not-for-profits have their own specific concerns related to the Financial Accounting Standards Board’s new revenue recognition standard. Find out in this episode how the new standard applies to not-for-profits.

How to keep fear from short-circuiting your career Jun 12, 2019

Lindsay Stevenson, CPA, CGMA, has a message for those of us who doubt ourselves or let a fear of failure take hold in this special-edition podcast recorded at AICPA ENGAGE 2019 in Las Vegas.

Fraud on film: Lessons from real-life stories Jun 10, 2019

What’s at the heart of fraud incidents? Opportunity is one angle, but so is rationalization, according to a university professor who has studied fraud through documentary filmmaking.

Interviews that will get you the staff you want Jun 03, 2019

The candidate experience is essential to hiring and retaining the right personnel, especially in today’s tight job market. Even the applicants you don’t hire walk away with an impression of you as an employer that can affect how your organization is perceived, as Troy Ashby, CPA, founder of recruiting firm Benchmark Search Group, explains.

Better computer and mobile device hygiene May 27, 2019

Have you ever had a stranger ask to borrow your mobile phone? Do you connect to public Wi-Fi networks? Cybersecurity expert Mike Foster has advice for handling those situations.

How organizations can better fend off cyberattacks May 20, 2019

Cybersecurity is a multifaceted, ever-changing concern of organizations. Cyber expert Mike Foster offers advice for keeping their networks secure.

A new opportunity for auditors to communicate May 10, 2019

Auditors’ reports will provide additional information, including a “Basis for Opinion” section in all reports, under a new standard issued by the AICPA Auditing Standards Board. Learn more about the new requirements, which include updates related to going concern.

Why you can’t wait to prepare for disaster May 06, 2019

Jennifer H. Elder, CPA/CFF, CGMA, co-author of the book "Faster Disaster Recovery: The Business Owner’s Guide to Developing a Business Continuity Plan," discusses how to prepare so that an organization’s finances and reputation will be protected if a disaster occurs.

Build employee loyalty with better onboarding Apr 30, 2019

Troy Ashby, CPA, founder of Dallas-Fort Worth-area recruiting firm Benchmark Search Group, outlines steps you can take to improve onboarding and increase new employees’ sense of belonging.

How one vacation can change your work life Apr 22, 2019

Byron Hebert, CPA, explains why he has inverted the words on a common workplace phrase, and how a 2011 invitation changed his approach to work and life.

Bad relationship with your boss? How to fix it Apr 12, 2019

Having a poor relationship with your manager can be detrimental to both your work and your quality of life. Maureen Hoersten, COO of staffing and recruiting group LaSalle Network, recommends ways to uncover the root cause of a bad working relationship and strategies for repairing it.

The 5 traits of a great manager Apr 01, 2019

As Gallup’s decades of research have shown, managers are key to an organization’s success. In this podcast, Nate Dvorak, a workplace researcher and client adviser at Gallup, reveals what Gallup’s studies say about the qualities needed for effective management and how employers can choose the right people to promote to manager.

Tips to ease the stress of Form 990 preparation Mar 25, 2019

IRS Form 990 is a complex, comprehensive form that can be a big challenge for a not-for-profit organization to prepare. Brian Yacker, CPA, managing director of YH Advisors, describes best practices for a stress-free and compliant preparation of Form 990.

The most important skill for CPAs — and machines Mar 25, 2019

To succeed in the age of artificial intelligence (AI), CPAs must be taught new ways to learn and must learn why machine learning means they should be patient with AI. Find out more in Part 2 of our annual Accounting Technology Roundtable podcast.

New developments in UBIT for not-for-profits Mar 19, 2019

The unrelated business income tax (UBIT) provisions of the Internal Revenue Code have long been a source of confusion for not-for-profits. Dave Moja, CPA, a tax partner at CapinCrouse LLP, discusses some of the activities not-for-profits should be aware of that produce unrelated business income.

What CPAs need to know to succeed in new tech age Mar 18, 2019

The Paul Reveres of accounting have been on their horses for the past couple of years, crying out that technologies such as AI and blockchain are set to invade the profession. “The robots are coming! The robots are coming!” Very well, but what should CPAs be doing about it? Find out in Part 1 of our annual Accounting Technology Roundtable podcast.

4 key tax reform provisions for not-for-profits Mar 14, 2019

With tax season underway for calendar-year taxpayers, Betsy Krisher, CPA, president of the Pennsylvania-based firm Maher Duessel, explains four key provisions in the new tax law that have a significant effect on not-for-profits.

How to become the speaker people listen to Mar 11, 2019

To live up to her full professional potential, Geni Whitehouse, CPA, CGMA, became the “Countess of Communication.” It wasn’t easy to become a speaker people listen to, but the result is rewarding on multiple levels. Find out how Geni did it.

The concerns of generally upbeat finance leaders Mar 07, 2019

Sentiment is positive overall among U.S. finance decision-makers. Hear more about the issues causing them concern, both at home and abroad.

The link between rowing, the Super Bowl, and FP&A Feb 24, 2019

What can FP&A professionals learn from a famous Super Bowl play? And what’s the role of storytelling in FP&A? Learn more in this podcast episode.

How to get clients to follow your advice Feb 18, 2019

Having clients fail to take your advice can be frustrating. But by changing the way you offer that advice, you can increase the chances that clients will comply.

Simple fraud prevention tips Feb 11, 2019

Fraud prevention doesn’t need to be complex. In fact, a few simple steps can help organizations of any size be better at fighting fraud.

How tax reform has changed busy season preparation Feb 04, 2019

Practitioners still have a lot of questions about tax reform — including everything from dealing with binding and nonbinding Tax Cuts & Jobs Act (TCJA) guidance to individual planning considerations.

Stay in charge of your time and energy Jan 25, 2019

Kevin Gienger, CPA, shares ways CPAs can better manage their time and become more productive without losing sight of what’s most important to them.

What CPAs need to know about Sec. 199A guidance and SSTBs Jan 17, 2019

One of the areas that accountants are most interested in regarding tax reform is Sec. 199A guidance — and, more specifically, how the deduction for qualified business income relates to a specified service trade or business. In this episode, Tony Nitti, CPA, addresses some popular questions on that topic.

How to improve communication at small CPA firms Jan 09, 2019

If poor communication is leading to inefficiency — or worse — at your firm, this podcast episode with AICPA board member Melody Feniks will provide strategies that can help.

The reasons behind a drop in US economic sentiment Dec 07, 2018

Each quarter, the Association of International Certified Professional Accountants surveys finance decision-makers in the United States about their outlook for the coming 12 months. The fourth-quarter results show that sentiment has dipped regarding the domestic and global economies. The decline is in part due to subsiding euphoria of the first quarter and tax law changes, though the overall outlook remains strong. Ken Witt, CPA, CGMA, the Association’s lead technical manager for management accounting, delves further into the results, focusing on hiring plans and the top challenges facing businesses.

Twin brothers reflect on decades of teaching accounting Dec 04, 2018

Identical twin brothers Harold Little, CPA, CGMA, Ph.D., and Carroll Little, CPA, DPA, share the unusual distinction of having both served as the chairs of AACSB-accredited accounting departments. The brothers look back at their journey from students to practitioners to faculty members.

Why CPAs can’t wait on automation tools Nov 30, 2018

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.

Why CPAs can’t wait on automation tools Nov 30, 2018

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.

Different ways to understand blockchain Nov 21, 2018

Blockchain expert Amanda Wilkie provides a guided tour around the blockchain ecosystem, explaining how the internet, ATMs, and even postage stamps can help CPAs comprehend how the digital distributed ledger and related technologies work.

What it was like to work for a legendary CPA Nov 16, 2018

Lester McKeever talks about what it was like to work for Mary T. Washington, a legendary accountant who became the first female African-American CPA in 1943, and also offers advice on succession planning at smaller firms.

What CPAs need to know about firm mobility Nov 09, 2018

This episode will bring you up to date on the latest developments in CPA firm mobility.

Working together to grow the CPA pipeline Oct 22, 2018

Accounting students are the future of the profession. So how can professors and practitioners work together to make sure those students complete their education and go on to earn their CPA license with the skill sets they need to be successful?

How the skill set for today’s CFO is changing Oct 15, 2018

An expert on large-company CFO searches shares insights into where executives are coming from and more in this podcast.

How to interview for soft skills Oct 01, 2018

Rian Powell, senior director of recruiting at Chicago-area staffing and recruiting firm LaSalle Network, explains the right questions to ask during job interviews to assess candidates’ soft skills.

Why our passions are essential to work success Sep 12, 2018

John Garrett, a former accountant and stand-up comedian, speaks on how being energized by our outside interests can energize us at work.

Top takeaways from the latest Economic Outlook Survey Sep 10, 2018

Hear more about companies’ hiring plans and profit projections from the third-quarter Business & Industry Economic Outlook Survey.

Tips for working with Millennial clients Sep 04, 2018

Cortlon Cofield, CPA/PFS, offers his best advice for marketing to and working with Millennial clients.

Lessons learned from a multibillion dollar fraud Aug 22, 2018

Aaron Beam, the first CFO at HealthSouth, tells a cautionary tale of greed taking precedence over ethics.

Using drones to enhance audits Jul 25, 2018

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.

The traits of truly great leaders Jul 24, 2018

Tommy Spaulding has traveled the world speaking on the topic of leadership, and he’s the author of two books, The Heart-Led Leader and It’s Not Just Who You Know. Listen to this episode to learn more about Spaulding’s focus on leading with the heart.

Is state legislation endangering the CPA license? Jun 27, 2018

The regulatory environment around the country is causing concern among CPAs — who are keeping a close watch on state legislation that might affect CPA licensure.

How tax reform is impacting tax practitioners Jun 12, 2018

Jeffrey Porter, CPA, discusses how practitioners are dealing with the changes so far.

How CPAs can become thought leaders Jun 05, 2018

According to Brandon Allfrey, CPA, CGMA, partner with Squire and Company, thought leadership can be a career-booster for just about everyone.

How tax reform — and Excel — are changing the CPA Exam Jun 04, 2018

Mike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.

How to make women’s initiatives more successful May 15, 2018

Nancy Droesch, CPA, co-founder of WILLO LLC, explains what employers can do to make their women’s initiatives stronger and more successful.

What it was like to be a female CPA in the 1970s May 09, 2018

Four women CPAs look back at that time, and share their funny, inspiring, and eye-opening stories about what it was like to be a pioneering female CPA.

Feeling frazzled? Try these tips for greater focus May 04, 2018

Time management specialist Pam Vaccaro, CEO of Designs on Time, discusses ways CPAs can improve their focus to become more productive and satisfied at work.

Beyond Boomers and Millennials: Bridging the generational gap in the workplace Apr 23, 2018

Forget Boomers, Millennials, and Xers. Robby Riggs, co-author of Counter Mentor Leadership, says generational conflict in the workplace boils down to tensions between two groups: the BOSSes and the KIDS.

What CPAs need to know about providing services to marijuana businesses Apr 18, 2018

Providing accounting services to marijuana businesses is full of potential legal and ethical minefields. This episode explores what CPAs need to know about the latest developments in providing accounting services to marijuana businesses.

Want to bring your employees together? Send them on a “Death March” Apr 12, 2018

For 40 years, employees at HMWC CPAs and Business Advisors in Orange County have taken part in an annual tradition dubbed the “Death March”: a camping, hiking, or rafting trip in one of the continent’s most beautiful national parks.

Networking secrets that will help advance your career Mar 30, 2018

Todd Cohen, a regular speaker at the AICPA’s CFO Conference, explains why we should network regularly, as opposed to networking only when we need to.

How to keep employees in the game Mar 28, 2018

Brandy Amidon, CPA, the CFO at South Carolina marketing and creative agency Brains on Fire, found a way to hold employees’ interest and get them to care more about the organization’s profitability.

What to know before you go into business with someone Mar 23, 2018

Mark Zyla, CPA/ABV/CFF, joins this edition of the podcast to talk about business prenups and divorce — and how they can impact your business’s valuation.

A CPA firm with Silicon Valley DNA Mar 16, 2018

Wesley Middleton, CPA, founder and managing partner of MiddletonRaines+Zapata, discusses his unique leadership style and how and why his firm does things differently.

How national tax reform is impacting state taxes Mar 09, 2018

CPAs around the country are still trying to figure out how the recent national tax reform will impact their clients at the federal level. But they’re also interested in how it will impact their clients at the state level. In this podcast, guest Eileen Sherr, a CPA and CGMA who is an AICPA tax expert, addresses some of the key questions CPAs — and their clients — need answered.

A new staffing model for accounting firms Mar 06, 2018

What will accounting firms and accounting departments look like after lower-level, repetitive tasks are automated and unprecedented amounts of data can be mined for business insights? That topic takes center stage in the second part of our annual accounting technology roundtable podcast.

How AI, blockchain, and automation will reinvent accounting Feb 27, 2018

Three of the profession’s top technology experts discuss the radical changes emerging technologies will bring to accounting — and accountants — over the next 1–5 years.

How tax reform will impact individual taxpayers Feb 09, 2018

Individual taxpayers have plenty of questions about how the new tax reform law will impact them. So we asked Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, to provide some clear, easy-to-understand answers to some of the most common questions. If you care about tax reform — whether you’re a CPA or a CPA client — this podcast is for you.

Private student loan debt: What CPAs need to know Feb 07, 2018

Borrowing money to pay for school has grown in popularity over the years, but it can have consequences that linger long after graduation. We examine what potential borrowers need to know when considering taking out private student loans.

Student loan debt: Everything you need to know but were too afraid to ask Jan 24, 2018

We take a look at what potential borrowers need to know when considering taking out a government-funded student loan.

Watch out for these fraud red flags Jan 08, 2018

Detecting fraud is often extremely difficult. But there are some things that accountants can watch out for. Howard Silverstone, a CPA who is a director at Forensic Resolutions Inc., shares some great stories about fraud — and explains the red flags that they help illustrate.

When accountants walked with kings: Jacob Soll’s The Reckoning Dec 06, 2017

Accounting history is a lot more exciting than you realize. Historian and MacArthur Fellow Jacob Soll, author of "The Reckoning: Financial Accountability and the Rise and Fall of Nations," discusses the vital role accounting played in the French and American revolutions.

Tax reform: What CPAs need to know about the latest developments Nov 10, 2017

Tax reform is the hot topic in Washington right now. In this episode of the podcast, which was recorded Nov. 6 at the AICPA National Tax Conference, we talk about what CPAs need to know with tax reform expert Tony Nitti, CPA, a tax partner with WithumSmith+Brown and an editorial board member of The Tax Adviser.

What’s next for health care reform? Nov 08, 2017

Health care reform has been one of the biggest policy issues of the year. In this episode of the podcast, which was taped Nov. 6 at the AICPA National Tax Conference, we ask health care reform expert Eddie Adkins, CPA, of Grant Thornton what will come next in the process — and what accountants need to know about it.

The secrets to opening a new CPA office Oct 11, 2017

Blake Christian, a tax partner with HCVT, drops in to reveal the secrets he’s learned from opening several new offices over the years.

What CPAs need to know about the new tax reform framework Sep 29, 2017

On Wednesday, Sept. 27, Republican lawmakers released a framework for tax reform--a key issue for CPAs and their clients. So what do practitioners need to know about the framework? Two expert guests, Alistair Nevius and Tony Nitti, join us for a special episode to help bring CPAs up to speed on the development. Nevius is the editor-in-chief of The Tax Adviser, and Nitti is a tax partner with WithumSmith+Brown and an editorial board member of The Tax Adviser.

Engage your listeners through financial storytelling Sep 06, 2017

CPAs sometimes struggle to hold their audiences’ interest when presenting financial data. Peter Margaritis, CPA, tells CPAs how to use storytelling to make their presentations more compelling.

What CPAs need to know about their tax software Aug 22, 2017

Every year, The Tax Adviser conducts a tax software survey that readers have come to rely on to help them choose what software to use and keep up with changes in the industry. In this episode, The Tax Adviser Editor-In-Chief Alistair Nevius explains what we can learn from this year’s survey.

Could unlimited vacation work at your firm? Jul 27, 2017

A workplace offering an unlimited paid-time-off policy sounds like paradise for employees… and nothing but headaches for the managers responsible for making sure all the work gets done. But the management team at ATKG, a CPA firm in San Antonio, has implemented just such a policy and has been very happy with the results. In this episode, we talk to Teryn Grater, a partner at the firm, about how and why they implemented the policy.

Real talk about artificial intelligence and blockchain Jun 29, 2017

Artificial intelligence and blockchain are among the technologies being touted as potentially disruptive and transformational for the accounting profession. How and when will new technologies reshape the accounting profession? That’s the focus of the conversation in part 2 of our annual technology roundtable.

Popular CPA Exam scoring questions answered Jun 19, 2017

John Mattar, the director of Psychometrics & Research for the AICPA Examinations team, talks about how the exam was developed—and answer some common questions about scoring.

A factor of singular importance in cloud computing May 30, 2017

What should CPAs be doing to better protect their data and derive more value from the investments in technology? Find out from our panel of accounting technology experts.

How a CPA overcame her fear of public speaking May 24, 2017

Great public speakers can be made, not born. Elizabeth Pittelkow, CPA, accounting and compliance director at ArrowStream, discusses how her experience with Toastmasters turned her from someone who avoided public speaking to someone who’s made it a key part of her career.

How to protect your CPA practice from hackers May 08, 2017

Nick Graf, an ethical hacker with CNA, joins the show to discuss all the cyber threats that go bump in the night and ways to prevent them from harming your business.

How CPA firms can protect themselves from lawsuits Apr 05, 2017

Being a public accountant entails a certain amount of professional liability risk. But accountants can take steps to mitigate that risk. In this episode, guest Sarah Beckett Ference, CPA, of CNA talks about ways that CPAs can help prevent, or defend themselves from, lawsuits.

From CPA to the classroom: Going from practitioner to professor Feb 27, 2017

Many CPAs have considered giving back to the profession by teaching accounting. In this episode, practitioners-turned-professors Tony Bucaro of Case Western Reserve University and Jim Biagi of Marywood University discuss what it takes to make the move to academia.

What you need to know before you sell your firm Feb 15, 2017

As the founder of brokerage firm Poe Group Advisors, Brannon Poe, CPA, has helped hundreds of CPAs sell their firms. He shares insights he has learned over the course of his career, as well as best practices for selling your firm.

Mistakes people make when applying for a job (Part 3) Jan 23, 2017

In the third part of a three-episode series, independent recruiter Beth Berk, CPA, offers her final recommendations on what job candidates can do to secure that new position.

Mistakes people make when applying for a job (Part 2) Jan 23, 2017

A lot of things can go wrong when changing jobs. In second part of a three-episode series, independent recruiter Beth Berk, CPA, continues her discussion of the key mistakes job seekers should avoid making.

Mistakes people make when applying for a job (Part 1) Jan 23, 2017

Independent recruiter Beth Berk, a CPA herself, talks about the key mistakes you need to avoid in order to land that coveted new gig.

How to make conference attendance pay off Jan 07, 2017

Guest Lynne Waymon of Contacts Count joins this episode to explain how to navigate the sometimes awkward social situations created by conferences so that you can get your money’s worth out of your attendance.

On the move: Answers to the most common CPA mobility questions Jan 07, 2017

CPA mobility is a key consideration for CPAs and aspiring CPAs, who often have a lot of questions about whether their licenses and credentials will be recognized in a different state. In this episode, guest Lindsay Patterson of the AICPA joins the show to help answer some of the most common questions.

How drone aircraft will change the CPA profession Jan 07, 2017

The military and delivery companies aren’t the only ones exploring the potential of drone aircraft. CPAs—specifically some types of auditors—may soon be using drones to help on the job. In this episode, guest Julia Morriss of the AICPA joins the show to give us a glimpse of accountants’ aeronautical future.

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