Journal of Accountancy Podcasts

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

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 resou

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

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 proposi

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 Fi

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

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.

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

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

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.

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

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 adviso

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 att

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

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 thi

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 retire

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.

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 gener

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.

Plenty of CPAs can say they learned something from Sid Kess, who died last week at age 97. 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.