Journal of Accountancy Podcast

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.

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.

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."

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.

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.

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.

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.

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.

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.

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.

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 [email protected]. 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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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."

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.

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.

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.

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.

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.

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.

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.

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."

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.

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.

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 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.

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.

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.

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."

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.

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.

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."

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.

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.

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.

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.

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.