Israel War Impact on Fintech | FTX&Trump Trial Updates | Iowa Blames Workday - a podcast by David Leary & Blake Oliver, CPA
from 2023-10-17T00:00
There’s a lot to digest in this episode! Blake and David discuss Microsoft's $28.9 billion tax bill, and examine a tax-fraud scheme involving art donations. JPMorgan Chase CEO Jamie Dimon predicts that AI advancements will create a shorter workweek in the future. They also look at Xero’s newest features, including improved algorithms for recognizing new contacts and bank reconciliation statements, and talk about Grant Thornton's implementation of Git Assist, an AI tool for accessing internal knowledge resources. All this and so much more, right here, right now!
Sponsors
Zoho - http://accountingpodcast.promo/zoho
Keeper - https://cloudaccountingpodcast.promo/keeper
South Carolina Association of CPAs (SCACPA) - http://accountingpodcast.promo/scacpa
Chapters
- (00:35) - The war in Israel and its effect on tech startups
- (04:36) - Heather Smith sends in an example of an AI language changer she used
- (06:49) - Arthur Andersen's Chicago house for sale
- (09:17) - Updates from the FTX, Sam Bankman-Fried trial
- (15:44) - IRS contractor who leaked tax returns of famous agrees to plea deal
- (19:03) - Trump trial updates
- (22:49) - George Santos facing 23 new charges
- (24:50) - Update on the Canada CPA standoff
- (26:42) - Nationwide accounting shortage is threatening small towns
- (27:59) - Number of accounting graduates drop largest percentage in single year since 1985
- (31:03) - Workday and the problem with schools rolling out ERP's
- (38:02) - What pricing lessons accounting firms can learn from ski resorts
- (42:56) - CFO Brew's survey on remote work
- (47:27) - IRS says Microsoft owes $28.9 billion in back taxes
- (51:40) - IRS tax-gap predictions, and scams to watch for in 2022
- (54:59) - Jamie Dimon predicts AI will reduce workweeks to 3.5 days
- (55:56) - Xero announces new AI features
- (56:49) - Grant Thornton rolls out GT Assist
- (59:13) - Earn free CPE for listening to this episode and remember to subscribe
Show Notes
Pool of accounting graduates shrinks, AICPA report finds
Report: Iowa can pay the bills but lacks transparency in its accounting
New accounting system causes bill backlog at U of Washington
Grant Thornton launches internal generative AI tool
https://www.accountancydaily.co/grant-thornton-launches-internal-generative-ai-tool
Art of Accounting: Leaving your job to start your own practice
Arthur Andersen's Winnetka home for sale
https://www.chicagobusiness.com/residential-real-estate/arthur-andersens-winnetka-home-sale
The SBF Trial is Embarrassing For Crypto Industry
Returning to the office is costing you $51 per day, study finds
https://finance.yahoo.com/news/returning-office-costing-51-per-172630839.html
Microsoft May Owe $28.9 Billion in Back Taxes to the IRS
https://gizmodo.com/microsoft-may-owe-28-9-billion-in-back-taxes-to-the-ir-1850921247
IRS Says Tax Gap For 2021 Expected To Be $688 Billion
How Israel's tech community is responding to the Israel-Hamas war
https://www.cnbc.com/2023/10/13/israels-tech-community-responds-to-israel-hamas-war.html
Iowa's annual financial report late again; agencies mum on why
Iowa auditor slams governor, state for delays threatening universities
UW’s Financial Accounting System
https://www.washington.edu/opb/uws-financial-accounting-system/
WSU recognized externally for Workday expertise
https://news.wsu.edu/news/2023/07/27/wsu-recognized-externally-for-workday-expertise/
Ohio State drops effort to update student information system
LMU announces Workday Forward; staff reflect on the “abysmal fiasco” of original Workday launch
UT’s switch to Workday came with more than a few hiccups, but they were to be expected
Open Letter on Workday Issues
https://www.agsem.ca/post/open-letter-on-workday-issues
Workday Implementation Considerations in Higher Education
Workday Sees Continued Momentum in Higher Education, With More than 70% of Workday Higher Education Customers Live
The Ohio State University Walks Away from Workday Student
https://www.thetambellinigroup.com/the-ohio-state-university-walks-away-from-workday-student/
Erie Community College to Spend $5.2M Replacing Disastrous ERP System
ISU switch to Workday accounting delayed state financial report
Iowa ends contract with Workday, company chosen without traditional competitive bidding
Exclusive: Iowa's late reporting jeopardized universities' federal funds
If Amazon can’t make Workday work, who can?
https://www.protocol.com/newsletters/protocol-enterprise/workday-amazon-fail
CPA Standoff: Accountants question the motives behind national ...
https://www.canadian-accountant.com/content/profession/cpa-standoff-member-consultation
Arthur Andersen's House on Zillow
https://www.zillow.com/homedetails/44-Locust-Rd-Winnetka-IL-60093/70453195_zpid/
Tax return thief who took Trump, Griffin data pleads guilty | Accounting Today
https://www.accountingtoday.com/articles/tax-return-thief-who-took-trump-griffin-data-pleads-guilty
An update on our IRS tax audit - Microsoft On the Issues
https://blogs.microsoft.com/on-the-issues/2023/10/11/update-irs-audit/
IRS sees tax gap widen to $688B | Accounting Today
https://www.accountingtoday.com/news/irs-sees-tax-gap-widen-to-688b
Melio Life on Instagram
https://www.instagram.com/p/CyQHzZiNDFi/
Caroline Ellison Tells Jury She Dreaded Inevitable Collapse of FTX – WSJ
Arthur Andersen's House Is For Sale - Going Concern
https://www.goingconcern.com/arthur-andersens-house-is-for-sale/
U.S. employees spend $51 daily when they work full-time in office, study says
The $300-a-Day Lift Ticket That Every Skier Hates - WSJ
https://www.wsj.com/lifestyle/travel/ski-resorts-lift-passes-epic-ikon-dbff41f7
Banker says Trump’s financial statements were key to loan approvals, but there were 'sanity checks' | AP News
Bankman-Fried dismissed audit risks at FTX, ex-girlfriend testifies | Accounting Today
Israeli Startup Community, at Home and Abroad, Prepares to Fight – WSJ
https://www.wsj.com/articles/israeli-startup-community-at-home-and-abroad-prepares-to-fight-60cea308
Santos Faces New Charges Accusing Him of Lies and Credit Card Fraud - The New York Times
Sam Bankman-Fried's FTX trial witnesses: Who knew what, when | Accounting Today
https://www.accountingtoday.com/articles/sam-bankman-frieds-ftx-trial-witnesses-who-knew-what-when
Fake mansions and rent-stabilized units emerge in Trump trial | Accounting Today
Sam Bankman-Fried Lieutenant Recounts FTX Crash for Jurors – WSJ
Here’s How FTX Executives Secretly Spent $8 Billion in Customer Money – WSJ
https://www.wsj.com/finance/regulation/sbf-trial-ftx-customer-money-missing-6ba13914
Trump Organization Controller Admits to Tax Fraud Over Fear of Losing Job
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
Forwardly - https://www.forwardly.com/
Royalwise - https://royalwise.com/
FutureFirm - https://www.futurefirmaccelerate.com/cap
Classifieds
Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Further episodes of The Accounting Podcast
Further podcasts by David Leary & Blake Oliver, CPA
Website of David Leary & Blake Oliver, CPA