Journal of Accountancy Podcast

Advising legal cannabis-related businesses is a growing opportunity for CPAs. The landscape is ever-changing, on regulatory and other fronts. Andrew Hunzicker, CPA, the founder and CEO of Dope CFO Certified Advisors in Oregon, and Ron Seigneur, CPA/ABV, founder and partner at the firm Seigneur Gustafson LLP in Colorado, joined the JofA podcast recently to provide an update on what has changed in the industry as well as highlights of the upcoming AICPA & CIMA Cannabis Industry Conference, Aug. 14-16 in Boston. They discuss common questions CPAs have, how laws and regulations have changed over the years, and more. What you'll learn from this episode: · An overview of the cannabis industry's regulatory landscape since one of the speakers was on a JofA podcast episode in 2020. · What attendees can expect at the AICPA & CIMA Cannabis Industry Conference in August. · Details about accounting-specific guidance as it relates to cannabis businesses. · The questions that Hunzicker and Seigneur often get about advising cannabis businesses. · A list of some of the specific niches that make up the cannabis industry.

Chris Ortega is an upbeat person, as anyone who's seen him present at a conference knows. But he also understands that, economically, times are tough, and he has advice for finance professionals to manage through the uncertainty. Ortega also shares how his role at conferences has changed since he first began volunteering, why he likes coming back to AICPA & CIMA ENGAGE, and what he sees for the future of financial planning and analysis (FP&A). What you'll learn from this episode: · Chris Ortega's career progression from financial planning and analysis (FP&A) analyst to consultancy CEO. · How the realm of FP&A and CFOs has changed in the past 18 months. · Ortega's advice for CFOs related to building up cash reserves. · The value Ortega found in volunteering to be on the planning committee for a conference. · His answer to the question, "In five years, what does FP&A look like?"

Carla McCall, CPA, CGMA, was a prominent speaker at AICPA & CIMA ENGAGE 2023 for good reason. On this episode of the Journal of Accountancy podcast, McCall, recently named AICPA vice chair, discusses her career path and interest in volunteering while also serving as managing partner of the firm AAFCPAs. McCall shares some of the key traits of leaders, what her firm is doing to address capacity issues, and one aspect of feedback that she considers difficult. What you'll learn from this episode: · An overview of McCall's career in public accounting. · Why gaining an outside perspective has helped McCall and her firm. · How she has learned to delegate responsibilities over the years. · An obstacle McCall faced regarding mentorship early in her career. · What she looks forward to in her role as AICPA vice chair.

CPA decision-makers in business and industry weren't optimistic at the end of last year, but their outlook grew a bit sunnier as 2023 began. Now, as 2023's midpoint approaches, the outlook of finance executives is again taking on a more pessimistic tone in a quarterly survey. Contraction plans are more common, and projections for revenue and profit have declined. Ken Witt, CPA, CGMA, AICPA & CIMA's associate director–Management Accounting Research and Development, discusses the results of the Economic Outlook Survey in this podcast episode. What you'll learn from this episode: · An overview of second-quarter survey results. · Why Witt now says that the fourth quarter of 2022 may not represent "the bottom" in terms of sentiment. · How the high-interest-rate environment is affecting companies. · Examples of more stringent lending requirements that businesses are facing. · The hiring outlook and projections for the coming 12 months for revenue and profit.

ChatGPT and other generative artificial intelligence bots have made a big splash this year, with ChatGPT even passing the CPA Exam earlier this month, but there is another kind of bot accountants need to know about. Cybercriminals have started using bots to identify zero-day vulnerabilities in routers, servers, smartphones, Windows, web browsers, and antivirus software. Once the hackers discover a vulnerability, they send out their bots to exploit it in as many places as possible, with CPA firms and finance departments among the potential targets. What can CPAs do to shore up their cyberdefenses? The latest episode of the Journal of Accountancy podcast, produced in partnership with the Small Firm Philosophy podcast, addresses that question with Roman Kepczyk, CPA/CITP, CGMA, director of firm technology strategy for Right Networks and author of the AICPA Private Companies Practice Section's CPA cybersecurity checklist. What you'll learn from this episode: · What a zero-day vulnerability is and why patching is so important. · The latest in strong password rules and tools. · Key cybersecurity risks and mitigation strategies for remote workers. · The technology trend Kepczyk is most excited about.

Technology experts in the accounting space have plenty to say about the assets that organizations should protect from cybercriminals, what Web 3.0 could mean for the profession, and what skills future CPAs will need. This is part two of a two-part conversation with: n Amanda Wilkie of Boomer Consulting; n Wesley Hartman of Kirsch Kohn & Bridge LLP; and n Donny Shimamoto, CPA/CITP, CGMA, of IntrapriseTechKnowlogies. The conversation also was turned into a JofA article. The podcast episode of the first part of the conversation was posted May 11. The speakers are scheduled to present at AICPA & CIMA ENGAGE in Las Vegas the week of June 5. Resources n Previous podcast conversation with Hartman about RPA. n The 2020 podcast episode that featured tech roundtable participants Wilkie and Shimamoto.

Technology experts in the accounting industry have plenty to say about ChatGPT, staffing issues and a push toward more automation, and how organizations can decide which projects are done in house or through outsourcing. This is part one of a two-part conversation with: n Amanda Wilkie of Boomer Consulting; n Wesley Hartman of Kirsch Kohn & Bridge LLP; and n Donny Shimamoto, CPA/CITP, CGMA, of IntrapriseTechKnowlogies. The conversation also was turned into a JofA article. The second part will be published in podcast form on May 18 on the JofA's podcast page. Resources n Previous podcast conversation with Hartman about RPA. n The 2020 podcast episode that featured tech roundtable participants Wilkie and Shimamoto.

For Dan Griffiths, CPA, CGMA, the president at Lume, a deodorant company headquartered in Utah, taking a rigorous approach to analysis – whether it be marketing spending or performance management – is critical. The human side of running a business is also important. In a conversation more than seven years ago, Griffiths spoke about emotional intelligence, a skill that has served him well in a fully remote company. "We have to be paying much closer attention to what cues we're getting from different members of the team," he said. In this Journal of Accountancy podcast episode, Griffiths offers leadership tips, reflects on what he did and didn't know in making a move from a CPA firm to a retail company, and uses a baseball analogy to explain how performance management should work. Griffiths is scheduled to speak at next week's AICPA & CIMA CFO Conference on the topic of performance management.

Terrell Williams is about to graduate with a master's degree in accounting. That's something he never would have considered after dropping out of college nearly 10 years ago. A chance event in his hometown of Louisville, Ky., changed everything for Williams. He nearly died outside a convenience store one March afternoon. "My time was ticking," he said. In this episode of the Journal of Accountancy podcast, Williams explains what happened, how he viewed it as the "start of a new life," how he found accounting, and why he's living life with more purpose. What you'll learn from this episode: Williams' recount of the life-changing events of March 29, 2017, in Louisville, Ky. Why he said his first attempt at attending college didn't go well. The volunteer work Williams does in his hometown. Some of Williams' mentors, outside of the family that he says "raised me right." What's next for Williams after graduation from the master's in accounting program at N.C. State.

Incentivize the behaviors you want. That was the theory behind GRF CPAs & Advisors' decision to change its partner compensation model several years ago. Firm leaders knew that if they wanted their partners to operate as a cohesive team, they needed to stop paying partners in ways that drove individualistic behaviors. More than five years later, GRF President and Managing Partner Jackie Cardello, CPA, says that while the process was a lot of work, the results "absolutely" have been worth it. What did GRF change, and how have the firm's fortunes improved? Find out from Cardello and GRF partner Elinor Litwack, CPA, in this episode, produced in partnership with the Small Firm Philosophy podcast.