Journal of Accountancy Podcast

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Tom King, CPA, has worked in corporate America and now is a professor of accounting at Case Western Reserve University. He wrote the book The Numerate Leader in part to help professionals better approach how they share data. If the right data is presented the right way, audiences won't simply nod their heads or completely tune out. King shares advice for how to get more "wow" and fewer yawns in this episode of the Journal of Accountancy podcast.

Pascal Finette, an entrepreneur, consultant, and keynote speaker, shares innovation lessons from interviews with other leaders, a story about how Pepsi set up a direct-to-consumer business, and why those fortunate enough to work remotely can develop a routine that leads to better quality of life.

Drew Niehaus, CPA, focuses on accounting advisory services and governance, risk, and compliance in his role as managing director of a firm in Texas. He shares knowledge on those and other topics in this episode of the Journal of Accountancy podcast, including where organizations should start with risk management practices, the most significant new accounting standards, and why he advises new accountants, "You're not expected to know everything."

The role shift of the finance function was accelerated by the pandemic, and CFOs and controllers continue to adapt to provide value for their organizations. Few people have more insight on that topic than Tom Hood, CPA/CITP, CGMA, executive vice president–Business Engagement & Growth for the Association of International Certified Professional Accountants, representing AICPA & CIMA. Hood is a featured speaker on a skills-focused webinar on Thursday about the Finance Leadership Program. He also leads a group of finance executives from large organizations, and he shared insights from that group — and what it will emphasize in the future — in this podcast conversation. More information can be found on the following topics mentioned: A registration link for the webinar on Thursday. The Registered Apprenticeship for Finance Business Partners

IRS service issues are a top concern for firms small and large, according to results of the 2022 AICPA Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey. But those service issues are not the only concern. Lisa Simpson, CPA, CGMA, AICPA vice president–Firm Services, and Carl Peterson, CPA, CGMA, vice president–Small Firm Interests, take a closer look at the issues and what those issues will mean for firms going forward.

Today's CPA devotes time and energy to focus on areas not even in existence a generation ago. As a result of technology and other changes in business, there is a need for updated testing of the skills needed to become a licensed CPA. Lori Kelly, CPA, lead manager–Exam Content for the AICPA, explains how the 2024 CPA Exam, based on proposed Blueprints, will look; why the changes are being proposed; and why feedback between now and Sept. 30 is vital. Also, here are three links to related resources: The CPA Evolution site. The 2024 CPA Exam exposure draft. Journal of Accountancy coverage of the release of the CPA Exam Blueprints.

Tim Keefe, CPA, CGMA, is continuing a family tradition in the profession. His grandfather, father, and two siblings have been accountants. Keefe has worked in several industries over the course of his career, and he found value in the mentorship of several people along the way. Keefe is curious by nature, and he likes to see new places. That's one reason he's in the middle of traveling to every U.S. state, where he's trying to see a professional sporting event in each. He's also hoping to visit all the current Major League Baseball stadiums. Keefe, the subject of the Journal of Accountancy June issue's Last Word feature, shared highlights of recent travels, why he thinks listening is so important, and more. Also, get a summary of recent IRS news coverage by Paul Bonner on two topics: A report that shows delayed screening of IRS new hires put taxpayer data at risk A letter from the AICPA that calls for further measures to address the IRS backlog.

Risk management came to the forefront for many organizations during the Great Recession. Now, in the midst of the Great Resignation and other highly disruptive events, risk management continues to be vital. An annual report on the state of risk oversight takes a closer look into where organizations stand and what they can learn about their own gaps. Mark Beasley, CPA, Ph.D., a professor at North Carolina State University and director of the school's ERM Initiative, explains more in the latest episode of the Journal of Accountancy podcast. Click here for the report's most recent edition, and for more resources, visit this page.

Harvard Business School professor and author Ranjay Gulati says that sentiment is growing among business leaders that companies have a larger role to play than simply providing shareholder value. This episode is a rebroadcast of Gulati's appearance on the FM podcast to discuss that topic and others highlighted in his recent book, Deep Purpose: The Heart and Soul of High-Performance Companies.

Aaron Beam became a millionaire in the 1980s as a corporate CFO, but his story is a cautionary tale. In this episode of the podcast, Beam discusses his tenure at HealthSouth, the fraud that occurred, and the advice he has for students and leaders to avoid repeating his mistakes.

In her role at the International Federation of Accountants (IFAC), Kristy Illuzzi, CPA, CGMA, works with small and midsize entities, including CPA firms. Her conversations with those organizations around the world have brought to the surface some of the ways in which the Great Resignation is affecting the accounting profession. In this episode, Illuzzi offers advice for organizations on flexibility, technology, and more. Also, catch up on news related to these topics: A PCAOB release on amended standards that apply to audits involving multiple firms. The Supreme Court agreeing to hear a case related to an FBAR penalty dispute. An IRS announcement about the use of voice bots for setting up tax payment plans.

For Anoop Natwar Mehta, CPA, CGMA, the path to becoming chair of the AICPA board of directors might not seem traditional. First, he hasn't worked for a public accounting firm. Second, he's been with one company for just about all of his professional life. Mehta joined profession leaders for a discussion at AICPA & CIMA ENGAGE 2022, and this episode is a rebroadcast of that conversation from the Town Hall Series.

AICPA & CIMA ENGAGE 22 emcee Jill Schlesinger, a CBS News business analyst, reviews some of the top moments from the event last week in Las Vegas. Schlesinger had conversations with keynote speakers and CPA profession leaders and has memories and knowledge to share from several of those conversations. Journal of Accountancy content mentioned in this episode: A previous JofA podcast episode with ENGAGE keynote Carla Harris. Coverage of the keynote session with Schlesinger and former Duke University men's basketball coach Mike Krzyzewski. A survey showing a rise in spending on Sarbanes-Oxley compliance. The IRS announcement about a midyear increase to the standard mileage rate. Small business owners discuss post-Wayfair burdens with the Senate Finance Committee.

Fellow tax podcaster Damien R. Martin, CPA, (Simply Tax) perhaps put it best on Twitter: "No one can rap 1202 like Master Nitti." Martin was referring, of course, to IRC Sec. 1202, the exclusion for gain from certain small business stock, and one of its foremost interpreters, Tony Nitti, CPA, as Nitti spoke about Sec. 1202 and other selected business tax topics at AICPA & CIMA's ENGAGE 22 conference in Las Vegas. We were extremely fortunate that Nitti generously shared a bit of his mastery on Sec. 1202, S corporations, and state passthrough entity (PTE) tax elections, in this podcast recorded June 8, a day before his ENGAGE presentation.

Carla Harris is an author, speaker, and executive with Morgan Stanley, and she was one of the keynote speakers at AICPA & CIMA ENGAGE 2022. In this episode, she explains the terms "powerful presence" and "performance currency" and gives advice for those seeking a career shakeup. Also, several news articles are referenced, including the ongoing release of the IRS's "Dirty Dozen" tax scams: part 1 on abusive CRATs and Maltese IRAs and part 2 on tax refund theft and fake charity appeals. Coverage of those scams continues on journalofaccountancy.com/news. The episode also mentions JofA coverage of a keynote session featuring former Duke University men's basketball coach Mike Krzyzewski and the release of the PCPS Top Issues Survey.

The AICPA Auditing Standards Board (ASB) voted in May to approve new quality management standards. In this episode, Sara Lord, CPA, the chair of the ASB, explains more about what those standards will mean for firms going forward and what changes they will need to consider. To learn more, visit the AICPA's resource page on quality management. The AICPA has also developed a four-part webinar series to guide practitioners on the changes.

On May 24 in New York, the AICPA and CPA.com hosted the inaugural ESG Symposium, bringing together a group of accounting leaders, investors, standard setters, and others to exchange ideas and perspectives on environmental, social, and governance (ESG) issues. One presenter and a leader in the ESG field is Ami Beers, CPA, CGMA, senior director–Assurance and Advisory Innovation at the AICPA. In the episode, Beers explains the reasons for increased focus on ESG, what she took away from the symposium, and what's coming next. She mentions several resources that can be found online. One good place to start is the AICPA's ESG-focused resource page.

J'Maine Chubb, CPA, CGMA, studied avionics in high school and also took an interest in a law career. He followed a familial career path, however, becoming an accountant, and he discusses some of that journey in this episode of the Journal of Accountancy podcast. Chubb, now the CFO at TravelWifi, was previously CFO of the Houston Airport System, where he worked for almost six years. Read more about Chubb in the JofA's Last Word feature from the May issue.

About three years ago on the Journal of Accountancy podcast, Lindsay Stevenson, CPA, CGMA, spoke about how to get over fearful moments in our careers. That topic is revisited in this episode, a follow-up conversation with Stevenson, now the chair of the AICPA Women's Initiatives Executive Committee. Stevenson talks about CPAs and their comfort zones and discusses some of the key points in her career journey. Also, get a summary of recent Journal of Accountancy coverage of a report on the IRS's calculation of recovery rebate credit eligibility.

Amy Radin, the author of The Change Maker's Playbook: How to Seek, Seed and Scale Innovation in Any Company, serves on the board of directors for the Association of International Certified Professional Accountants. She wrote for FM magazine on how CFOs can enable innovation in late 2020. And, in early 2021, Radin was a guest on the FM podcast to discuss establishing innovation metrics. Innovation and metrics are the topic for this episode, in which Radin talks about how innovation principles can play a role in an organization's financial planning and analysis (FP&A) functions. In two weeks at AICPA & CIMA ENGAGE 22, Radin is co-presenting with Tom Hood, CPA/CITP, CGMA, executive vice president–Business Engagement and Growth for the Association of International Certified Professional Accountants.

Burnout at work was a concern even before the COVID-19 pandemic quickly left so many people isolated. The components of burnout are heightened now, according to author Britt Andreatta, Ph.D., in a December interview. In this episode of the Journal of Accountancy podcast, you can hear more about burnout and how it can affect overall mental health. Stefan van Duyvendijk, Accounting Operations Evangelist with FloQast, shares data about burnout among accountants, explains why some of us struggle to see the signs of burnout, and offers advice for managers.

How soon is too soon to have a debrief after busy season? And what should be the goal of such a debrief? Those topics are addressed in a special crossover episode with the AICPA Town Hall series. Hear three CPAs discuss the topic, how it's applicable to more than tax season, and how firm leaders of different sizes approach the debrief. The full Town Hall episode is here, and the speakers in this segment are: Lisa Simpson, CPA, CGMA, vice president–Firm Services at the Association of International Certified Professional Accountants; Brandon Lagarde, CPA, director of the Tax Services Group at Postlethwaite & Netterville; and Brent Forbush, CPA, CGMA, managing partner of Forbush & Associates. The conversation is a follow-up to an article Lagarde and Forbush co-authored in early 2020 in The Tax Adviser. Also, learn about the IRS response to a TIGTA report that noted the IRS destroyed millions of unprocessed information returns.

This episode of the podcast focuses on a busy week in news and a story of finance transformation in action. Janis Parthun, CPA, and Steve McKechnie, leaders in RGP's finance transformation practice, explain how a recent client engagement led to efficiencies for the client, a global food and beverage company, and lessons learned for RGP. Also, here are links to Journal of Accountancy articles mentioned in the news roundup: S. sanctions that include a ban on providing accounting and management consulting services to Russia. A TIGTA report on e-filing and the IRS. Puerto Rico residents get guidance on claiming the child tax credit. TQAs provide guidance on auditor reporting.

Because of their training and experience, CPAs are rightly considered the foremost providers of tax services to taxpayers. Some CPAs also serve the taxpaying public at large — with appreciation for Congress's task to enact equitable tax laws and the IRS's job to diligently and fairly administer them — by recommending improvements to both. They can do so in many ways, but in this episode, we'll explore two paths: the AICPA's volunteer tax committees and a council directly advising the IRS's top leadership — from the experience of a longtime trailblazer, Jeff Porter, CPA.

Donny Shimamoto, CPA/CITP, CGMA, is one of two accounting firm leaders presenting at AICPA & CIMA ENGAGE on where to begin when it comes to starting a technology-focused advisory practice. Client advisory services (CAS) are a growing opportunity for firms, so the presentation by Shimamoto and Liz Mason, CPA, is timely. In this episode, Shimamoto takes a look back — at how firms and CPAs in general worked to integrate technology — and a look ahead — to what advisory services could look like in the future.

May is Mental Health Awareness Month, and it's the focus of this episode of the Journal of Accountancy podcast. Kari Hipsak, CPA, CGMA, senior manager–Firm Services at the AICPA, explains why mental health matters to her and shares advice for how managers and organizations can better promote mental health of their staff. Several resources are mentioned in the episode: Hipsak's interview about mental health on the What's Your "And"? PCPS mental health resources. A recent Journal of Accountancy article on companies expecting to increase pay for employees.

Sean Stein Smith, CPA, CGMA, DBA, is speaking June 7 at AICPA & CIMA ENGAGE on the blockchain ecosystem. Nonfungible tokens (NFTs) are a part of that ecosystem. In this podcast episode, Stein Smith explains what NFTs are and aren't, how baseball cards or other physical items can be "tokenized," and more. Also, get an update on two recent IRS items, related to estate and gift tax proposed changes and the public input sought on prioritization of tax issues. Resources Here are three recent JofA articles about NFTs: NFTs Come With Big Valuation Challenges Tax Consequences of NFTs How NFTs Work and Where They Get Their Value

Sandi Matthews, CPA, CGMA, was ready for a new adventure when she was hired in 2018 as an accounting manager for not-for-profit Khan Academy. It was not just a new job she accepted — it was a role in a faraway location. Matthews helped to establish Khan Academy's subsidiary in India in its early days. She's now head of finance, and in this podcast episode, Matthews discusses the barriers she faced moving from North Carolina to New Delhi, advice for others considering an international assignment, and why she recommends visiting a new country as a resident instead of as a tourist.

Denise Dettingmeijer, CFO of Randstad North America, is part of a panel discussion at AICPA & CIMA ENGAGE in June in Las Vegas. In this podcast episode, she previews the theme of that session and explains why having fellow CFOs "along the same part of the journey" is helpful. Dettingmeijer also shares advice on how professionals can get the most out of attending a conference. Also, here are links to other JofA coverage mentioned in the episode: Paul Bonner's coverage of progress reported in Treasury's equity action plan. Brannon Poe, CPA, on why converting to the cloud has advantages related to a firm's exit strategy.

Jill Schlesinger, a CBS News business analyst, author, and podcast host, built her brand as a purveyor of financial advice in part through radio call-in shows. She's a seasoned speaker on all things money and the guest on this episode of the Journal of Accountancy podcast. Schlesinger is slated to be an emcee at AICPA & CIMA ENGAGE in June in Las Vegas, where she looks forward to hearing more about how accounting and finance professionals are adapting to "accelerants" related to the economy and office work. Schlesinger also explains more about how inflation may keep some people working or send some retirees back to work.