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Journal of Accountancy Podcast
7 minutes | Nov 22, 2022
Remembering an enthusiastic CPA who challenged the status quo
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.
13 minutes | Nov 17, 2022
Unearthing talent: Embracing the ‘era of professional apprentices’
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.
16 minutes | Nov 9, 2022
Tax conference takeaways: IRS service, corporate minimum tax, and more
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.
8 minutes | Nov 3, 2022
IRS news, Roth conversion considerations, stopping elder financial abuse
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.
19 minutes | Oct 27, 2022
Q&A: The 2 most prevalent cyberthreats for CPA firms
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.
7 minutes | Oct 20, 2022
IRS annual inflation adjustments, negotiating a job offer, and a quiz
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.
23 minutes | Oct 18, 2022
A closer look at proposed revisions to the AICPA tax standards
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.
10 minutes | Oct 13, 2022
Roth IRAs vs. 529 plans, job candidate questions, and an IRS extension
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.
20 minutes | Oct 7, 2022
A pioneering CPA reflects on a 50-year journey
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.
11 minutes | Oct 4, 2022
Guiding principles for today’s boards of directors
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.
14 minutes | Sep 29, 2022
‘Own your narrative’ and other advice from a Starbucks executive
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.
16 minutes | Sep 27, 2022
The importance of ‘boss moves’ when making your next career step
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.
26 minutes | Sep 22, 2022
What small firms need to know about succession and M&A
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.
9 minutes | Sep 15, 2022
A quick tour of student loan forgiveness, a quiz, and a letter to the IRS
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.
14 minutes | Sep 8, 2022
Why CFOs have confidence in the midst of difficult economic times
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.
9 minutes | Sep 1, 2022
The ‘mixed bag’ of economic sentiment; recent IRS news; a PCAOB update
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.
26 minutes | Aug 25, 2022
The payoffs of RPA for one accounting firm
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.
16 minutes | Aug 23, 2022
The heavier lifting that technology can accomplish for CPAs
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.
28 minutes | Aug 18, 2022
A closer look at tax items in the Inflation Reduction Act
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.
24 minutes | Aug 16, 2022
Feeling stuck or overwhelmed? Advice to help ‘calm the storm’
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.
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