Journal of Accountancy Podcast

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.

Kimberly Ellison-Taylor, CPA, CGMA, the founder and CEO of KET Solutions and a former AICPA board chair, is energized by people she met and words she heard at recent events. Ellison-Taylor recaps some of the highlights in this episode of the JofA podcast, focusing on a session at the Future of Finance Summit in December on how finance professionals, and women in particular, can turn dreams of serving on a corporate board into reality. Also, get caught up on recent articles in the JofA, including a recap of a session on generative AI at Digital CPA, the start of tax season according to the IRS, how auditors can handle questionable employee retention credit claims, and when some accountants are completing work. What you'll learn from this episode: · A roundup of several JofA articles in a busy news week. · Ellison-Taylor's key takeaways from the Women's Global Leadership Summit and Digital CPA events. · The networking opportunities provided by those events and the Future of Finance Summit. · Her thoughts on technology being "unleashed" and future talent being "unlocked." · What Ellison-Taylor means when saying "Together, we're unstoppable." · Why she says that budding leaders should spend time in an office instead of being fully remote.

Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, explains why the accounting profession has to embrace generative artificial intelligence (Gen AI) instead of running from it. And that's not all he's talking about in this episode of the JofA podcast. Melancon shares insights on the effect of AI on audit and assurance, how private equity's entry into accounting is changing firms, how business models themselves are changing, and why he says the world needs accountants more than ever. This is the second of a two-part conversation. The first part was published in December. What you'll learn from this episode: The importance and value of a recently published toolkit on Gen AI. Why accountants and accounting firms have to embrace Gen AI and understand its risks. Potential uses for AI in auditing and assurance. The shifts Melancon sees in the business model of firms. Skills that CPAs should be prepared to learn, unlearn, and relearn. Melancon's explanation of the "trust equation" as it relates to CPAs.

Steve Saah, executive director of the finance and accounting permanent placement practice at Robert Half, joined the JofA podcast last week at the Future of Finance Summit in Orlando, Fla. In the interview, he shares recent data that seems positive related to hiring trends. He also offers insights into the future of in-office work, analyzes the role that inflation plays in that dynamic, and discusses the advantages organizations have with multiple generations in the workforce. What you'll learn from this episode: § How organizations are approaching hiring in 2024, according to recent Robert Half data. § The reasons for the significant gap between supply and demand in the finance industry. § The one word Saah used to describe the 2023 economy. § What Saah thinks about the future of in-office work. § The hiring advantages of hybrid work models for organizations. § The relationship between age, career level, and coachability.

The JofA podcast took a road trip last week to the Future of Finance Summit, catching up with several leaders on highlights from the event and reflections on its growth since the first event in Nashville, Tenn., in 2021. Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, leads off this compilation episode, sharing a favorite quote and how it applies to the summit's themes. He and other speakers explain how a growing community of leaders is applying the knowledge of the crowd to guide their organizations in transformative times. Other speakers in this episode: n Carrie Kruse, CPA, CGMA, economic development administrator for the city of Des Moines, Iowa; n Scott Spiegel, CPA, CGMA, COO for AICPA & CIMA; and n Kelly Lorenz, AICPA & CIMA's associate director–Business Growth and Engagement. The episode is the first of several that will focus on Future of Finance speakers and sessions, so be on the lookout for more, starting Thursday and continuing into 2024. What you'll learn from this episode: · Hood's summary of the event's growth over the years. · Why Cruse considers the event the "top professional development opportunity of the year." · The reasons Spiegel is more energized now about a new finance apprenticeship program. · Why the summit's idea-sharing has been a "gold mine of opportunity" for finance leaders, according to Lorenz.

Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, joins the show this week for the first part of a two-part conversation on the state of the profession and what CPA can expect in 2024 on several fronts. Melancon details concerns about a potential IRS shutdown in tax season, the state of ESG reporting and regulation, how elections could play out, and why the threats to CPA licensure are real. Part 2 of the conversation will be published in an early January episode of the JofA podcast. What you'll learn from this episode: · Melancon's one word that sums up the state of the profession looking ahead to the new year. · An overview of two major issues affecting CPAs: the moratorium on employee retention credit claims and requirements for beneficial ownership information reporting. · The "significant service implications" of a potential government shutdown related to the IRS. · Why legislation in Europe and California will have an effect on ESG reporting, even for businesses outside those areas and regardless of any SEC action on ESG. · Melancon's assessment of "the art of compromise" in Washington. · The reasons CPA licensure is so important.

In the fourth-quarter results of the Business and Industry Economic Outlook Survey, CPA decision-makers remain pessimistic about both the global and U.S. economy, but less so about their own organizations. They also are showing a hesitance to hire, facing an array of challenges, as explained in this episode of the JofA podcast. Guest Ken Witt, CPA, CGMA, AICPA & CIMA associate director — Management, Accounting Research and Development, analyzes the results of the quarterly survey. What you'll learn from this episode: How sentiment has changed regarding recession likelihood in the past few quarters. Projections for the next 12 months for revenue and profit. A recap of how the top challenges have shuffled lately, including regulatory concerns falling far down the list. The trends in hiring and why some workers may be more likely to stay put than look for another job. The specific part of decision-maker sentiment that Witt is waiting for in 2024.

Jeff Drew, the JofA's editor-in-chief, is the guest on today's episode, taking listeners through some of the articles in the December issue, which goes live on Friday. Drew, a former JofA senior editor and manager with the AICPA's Private Companies Practice Section, has focused on content for the daily and monthly magazines for more than a decade. He is also the host of the Small Firm Philosophy podcast. He previews coverage on the topics of: n firm practice management; n considerations for potential firm partners; n the employee retention credit; n Excel's Automate feature; and n Improving your work setup with a vertical mouse, mechanical keyboard, and more. If you have article ideas or other magazine feedback, you can reach Drew at jeff.drew@aicpa-cima.com. What you'll learn from this episode: · Where readers can find the latest monthly issue of the JofA. · A summary of a small firm owner's article about firm practice management. · Considerations for CPAs on the path to partner. · Drew's explanation of the top item in the Tax Matters section. · The advice that Kelly Williams, CPA, shares about Excel in Technology Q&A. · Another Technology Q&A topic that reminds Drew of 1980s arcade games.

The 2023 Digital CPA Conference, Dec. 3–6 in Las Vegas, will be the event's 12th year. To explore the trends that drive this year's agenda – and to look back on the conference's weather-delayed start – Michael Cerami joins the JofA podcast. Cerami is executive vice president of strategic alliances, business development, and communications at CPA.com, the AICPA's business and technology subsidiary. Cerami discusses generative AI, previews some of the Digital CPA sessions, and explains how business model transformation is a key topic for future-focused CPA firms and practitioners. What you'll learn from this episode: · More from CPA.com's Michael Cerami on the recently released AI toolkit. · Cerami's preview of some of the keynote speakers' topics. · Why the initial Digital CPA event was delayed about six weeks. · Why business model transformation is top of mind for the profession. · How Digital CPA has led the discussion over the years on the topic of client advisory services, or CAS.

The title above is the first question posed to the guest on this episode of the JofA podcast. Byron Patrick, CPA/CITP, CGMA, vice president—Client Success at the B3 Method Institute, is a repeat guest on the show, and he's spoken previously about best practices for virtual meetings. The conversation topic was spurred by an article covering recent research about how our brains perceive interaction differently in virtual meetings than in-person meetings. The first time Patrick appeared on the JofA podcast, in 2019, he discussed effective email rules. Over the years, he's shared PowerPoint rules to live by and advice for virtual meetings. What you'll learn from this episode: · Why trying to look someone in the eye is difficult in virtual meetings. · Patrick's recall of memorable meeting gaffes. · How headphones can be useful in online meetings. · A cameo appearance from Patrick's dog, Trinity. · Why Patrick says that 10 minutes of consideration can make meeting attendees more effective and presentable.