The Accounting Podcast

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**The Accounting Podcast**

The most authoritative voice in accounting news. Every week, Blake Oliver and David Leary break down the stories reshaping the profession — AI, the Big Four, firm M&A, audit failures, and the talent crisis — with analysis you won’t get from the trade press. Earn free NASBA-approved CPE just for listening, with the Earmark app.

Latest Episodes:

#Xerocon: Tony Ward, President of the Americas at Xero Jun 30, 2019

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Show Notes

00:53 - Welcome to the Cloud Accounting Podcast!
01:49 - What made you want to join Xero?
02:38 - Tony's background in software
02:55 - How do you respond to the observation that another non-American is taking over for Xero Americas?
03:31 - You think you have a long commute? Try Sydney to Denver!
03:52 - Is Xero done with San Francisco?
04:32 - How are you planning to crack open the US market?
06:51 - "Platform companies win; product companies get bought or go away."
08:44 - Where does Xero fit in when it comes to the new world of software plus a service?
10:54 - What's the rationale behind the Xero PwC partnership?
13:08 - What's going to be the impact on small accountants and bookkeepers who can't write code?
14:32 - Any big plans for 2019, 2020?
15:58 - How to connect with Tony and learn more about Xero

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Thanks for listening! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, do us a favor and write a review on iTunes. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.

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SNH19: Rich Preece of Intuit talks QuickBooks Live and how customer demand is driving industry transformation Jun 26, 2019

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Show Notes

Coming Soon!

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#Xerocon San Diego: Xero and Stripe Join Forces Jun 21, 2019

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Halon Tax: http://cloudaccountingpodcast.promo/halontax
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Show Notes

00:58 - Welcome to the Cloud Accounting Podcast!
01:40 - David observes folks are starting to get upset with “fetching” because it’s becoming an uncontrolled process … “it’s easier to build a stable process to get paper bank statements then manually scan them”
04:25 - Blake fills in David on Day 1 of Xerocon
06:18 - Xero announces smarter tools to help accountants and bookkeepers manage their digital practice — Including Tax Mapper, which removes the workarounds at tax time
08:45 - Global Software Leaders Xero and Stripe Join Forces to Bring Seamless Payments to Millions of Small Businesses — The first two innovations announced today that are being developed under the new partnership include: 1) A new Stripe feed, designed to bring comprehensive transaction data for all Stripe payments into Xero for easy reconciliation and greater insights, whether a small business invoices from the Xero platform or an ecommerce site, and 2) Auto pay, allowing small businesses to set up and receive recurring payments for repeat billing customers directly through Xero
17:05 - PwC and Xero Extend Global Collaboration to Help Small Business Succeed

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SNH19: Right Networks Challenges QuickBooks Online Jun 19, 2019

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TOA Global: http://cloudaccountingpodcast.promo/toaglobal
LivePlan: http://cloudaccountingpodcast.promo/liveplan

Show Notes

00:58 - Welcome to the Cloud Accounting Podcast!
02:08 - Woodard Network is rebranded to Woodard Alliance
02:55 - Right Networks turns QuickBooks Desktop to 'Always On' | Accounting Today
06:45 - David's observation at SNH19: The vast majority of accountants/bookkeepers are turning away business
08:18 - David's observation at SNH19: Many ProAdvisors have not yet heard about QuickBooks Live
09:24 - QBO keynote highlights: Bank statements will now download into QBO along with transactions from bank feeds
10:23 - QBO keynote highlights: QBOA will show an alert inside of QBOA when a SmallBiz reaches out to you on the Find a ProAdvisor website
11:17 - QBO keynote highlights: QBOA is adding KPIs, dashboards, and industry comparisons... to help folks do advisory work

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Is the CPA Worth it in 2019, 2020, 2021…? Also, H&R Block Acquires Wave and Xero Appoints Jamie McDonald to Lead Accounting & Global Services Jun 16, 2019

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Xero: http://cloudaccountingpodcast.promo/joinxero

Show Notes

3:36 — AICPA to Oversee New Internet Domain for CPAs | AICPA
7:36 — Given the change in the profession, what's the value of the CPA license in 2019 and beyond?
8:42 — A listener asks if the CPA is worth it. Blake responds.
11:36 — CPA numbers have stagnated according to NASBA data
12:56 — How much is the CPA Exam worth in 2019? | Accounting Today — The CPA Exam, it seems, is not seen as a necessity by a significant percentage of young professionals. A roundtable hosted by CPA Exam prep course company Surgent, "Is the CPA License Losing Its Luster?" explored this question earlier this month.
16:12 — Trust begets opportunity for accountants in assurance | Accounting Today — Susan Coffey, executive vice president of the Association of International Certified Professional Accountants, says that analytics have the capacity to one day eliminate the need for human-verified audits.
19:44 — NASBA and AICPA seek input on evolving licensure model | Journal of Accountancy — The National Association of State Boards of Accountancy (NASBA) and the AICPA are seeking feedback from the profession and its stakeholders as they consider ways to evolve the model for initial CPA licensure to support a growing need for new skills amid rapid technological advancement. Provide your feedback at evolutionofcpa.org.
25:46 — Over the last 8 years CPA firm hires have increased over 4% but non-CPA firm hires have increased over 10% | Twitter
26:51 — Tax law changes join staffing as a top issue for CPA firms | Journal of Accountancy — “Finding qualified staff” is the top concern of every firm with two or more professionals — the same result as in the 2017 survey.
29:07 — H&R Block to acquire Wave Financial for $405M | Accounting Today — The acquisition is expected to expand H&R Block’s presence in the small business market. The Kansas City, Missouri-based tax prep giant is mostly known for its tax services and technology, but it has periodically made moves to provide accounting and bookkeeping services as well.
41:17 — Xero appoints Hubdoc co-founder Jamie McDonald to lead Accounting and Global Services | Insightful Accountant — McDonald’s expanded role will see him lead the continued improvement of Xero’s core accounting products for small businesses, including Xero Mobile. Tune in for our upcoming Xerocon interview with Jamie!

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Interview and Demo of CORE with BQE Software CEO Shafat Qazi on Facebook Live Jun 15, 2019

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BQE Software: http://cloudaccountingpodcast.promo/core

Show Notes

Click here to download the slides from the Facebook Live event.

00:58 - Welcome to the Cloud Accounting Podcast!
02:04 - Background on Shafat Qazi and BQE Software
13:11 - Background on BQE Core
25:25 - Live demo of BQE Core
34:31 - Demo of BQE Business Intelligence
44:23 - Demo of Core Intelligence
56:21 - Visit BQE and see Core Intelligence in action at Booth 64 at Scaling New Heights
57:48 - Learn more about BQE Core at bqe.com

Connect with Shafat

Twitter: https://twitter.com/Shafat

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AICPA ENGAGE: Megan Lewczyk, CPA & Ryan Lazanis, CPA, CA Jun 13, 2019

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FloQast: http://cloudaccountingpodcast.promo/floqast

Show Notes

This episode is sponsored by FloQast. Closing the books is a manual, error-prone, and time-consuming process. There has to be a better way than Outlook emails, Excel checklists, and endless status update meetings. FloQast was built by accountants for accountants to help them close faster and more accurately. The bottom line: Teams relying on FloQast on average close three days faster. Learn more.

01:56 - What's the value of the CPA these days?
17:46 - H&R Block to acquire Canadian fintech startup Wave | ZDNet
21:52 - QuickBooks Live and the rise of remote work in accounting
27:46 - 3 Reasons Why EY's Free Software Release is Super Smart | FutureFirm.co
31:43 - Subscribe to Ryan's email newsletter "Future Firm"
32:16 - Megan shares what she’s up to at Yaeger CPA Review, including their new Instructor Hotline
34:41 - How to connect with Ryan and Megan on social media

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Accounting Salon Interviews: Clint Bowers of Smart Business Concepts Jun 12, 2019

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Show Notes

00:24 - About Clint's firm Smart Business Concepts
01:50 - What's your tech stack?
04:16 - On premises versus cloud for manufacturing
05:45 - What were you doing before owning your own firm?
06:20 - Do your employees work remotely?
07:35 - Clint is hiring!
08:23 - What was your big takeaway from last year's Accounting Salon?
10:53 - What is something our listeners can only learn from Clint?
11:19 - What does "advisory" mean to you?
13:31 - Follow Clint on Twitter @clintbowers25

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It’s a Bot! Live Interview and Demo of Gappify Alan with Founder & CEO Jotham Ty Jun 11, 2019

Show notes

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CPA.com: http://cloudaccountingpodcast.promo/cpa

Show Notes

00:16 - Welcome to the Cloud Accounting Podcast!
01:02 - Correction: Gappify is true automation (not fake bots)
03:09 - Jotham's background in the Big Four and then SOX compliance consulting
04:06 - What is Gappify Alan and what does it do?
07:13 - How does Alan work behind the scenes?
11:00 - The value proposition of Gappify for a midsize company
13:16 - About Gappify, including their participation in the AICPA startup accelerator
16:48 - Live demo of Gappify Alan
24:07 - Who is a good fit for Gappify as a customer?
25:29 - What does Gappify cost?
26:14 - Do you find challenges with customization?
28:41 - Are you still building a bot to pass the CPA exam?
32:36 - Do you think companies will stop customizing so much?
36:16 - How to get in touch with Jotham Ty and learn about Gappify (https://www.gappify.com/)

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Another AI Startup Aims to Eliminate Accountants Jun 10, 2019

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Xero: http://cloudaccountingpodcast.promo/joinxero

Show Notes

00:34 -- Welcome to the Cloud Accounting Podcast, and our guest, Lorilyn Wilson, CPA!
02:29 -- We got another review! Click here to leave a review on iTunes.
03:25 -- Canopy releases professional tax prep software | Accounting Today — Practice management software developer Canopy announced general availability Tuesday of Tax Prep, its professional tax preparation software.
08:10 -- Poll: What Percentage of your Firm’s Revenue Comes From Advisory Services? | Tax Pro Center | Intuit ProConnect
10:37 -- @TheBig4Accountant: "I still have no idea what advisory does" | Twitter 😂
13:54 -- Lawmakers expected to offer new version of IRS bill without 'Free File' provision | TheHill — The Free File program was stripped from the legislation moving through Congress, putting the future of the Free File program in doubt.
14:52 -- Changes coming to tax transcript availability | Journal of Accountancy — The IRS said Tuesday that on June 28 it will stop faxing tax transcripts to taxpayers, tax professionals, and third parties to protect against identity theft.
16:09 -- The Worst-Kept Secret About QuickBooks Online | Forbes — David says that Gene Marks nailed the key point about cloud accounting price increases way back in 2015.
19:47 -- Hey CPA Exam Candidates, Y'all Ready For Continuous Testing? It's Coming | Going Concern — According to the revised rule, when system changes have eliminated the need for test window limitations “a Candidate can retake a Test Section once their grade for any previous attempt of the same Test Section has been released.”
22:20 -- Georges raises $11.2 million for its accounting automation tool | TechCrunch — On the latest app that has raised VC money to automate accountants out of a job: “It’s not perfect so you still have to manually categorize some transactions. But it’s still much faster than entering each transaction in an accounting application. Once everything is tagged properly, Georges generates paperwork and sends it to tax authorities.”
25:41 -- Here’s what creatives think of the new Mac Pro | The Verge — What do you think of the “Cheese Grater”?
27:03 -- Updates to the App Store Review Guidelines | Apple Developer — Apple buried a new requirement that all apps on the app store use a “sign in with Apple ID” option in the future. Does this mean we’ll see an Apple ID sign in option in the QuickBooks and Xero iOS apps?
29:32 -- In a rare advisory, NSA urges users to patch BlueKeep flaw | TechCrunch — If you’re running Windows 7 or earlier, patch your computers ASAP!
31:50 -- ATAX Franchise and Loyalty Brands Join Forces to Expand Nationwide and to Serve the $2.13 Trillion US Latino Market | PR News Wire — There’s a reason ATAX is growing so quickly: “In the last decade, U.S. Latinos launched 86% of all new businesses in the U.S.”
34:06 -- @LorilynWilson: “Bookkeeping Firms: Do you allow your client to dictate the accounting software?” | Twitter — According to a totally non-scientific poll on Twitter, the majority of respondents don’t allow their clients to dictate what accounting software to use.
37:28 -- Thanks for joining us, Lorilyn! Follow Lorilyn Wilson on Twitter.