Journal of Accountancy Podcast

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 Jeff.Drew@aicpa-cima.com. 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, managing partner at AAFCPAs and the new AICPA chair, shares her whirlwind experience in leadership. She discusses the rewarding nature of engaging with diverse professionals and the need for evolving traditional norms in accounting. McCall emphasizes the importance of personal growth, self-awareness, and harnessing unique skills for professional advancement. Additionally, she addresses the critical role of individual contributions in nurturing future talent within the industry, inspiring listeners to embrace change and foster a supportive workplace.

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, a seasoned leader of the AICPA, reflects on his impactful career and the evolving landscape of the accounting profession. He discusses the tumultuous periods following major scandals and how trust remains vital. Melancon emphasizes the need for rapid adaptation and the importance of evolving competencies, especially within an AI-driven future. He argues that viewing passion as central to the profession can drive innovation and collaboration, while also predicting significant changes in job roles due to technology.

Barry Melancon, a respected leader in the accounting profession, reflects on nearly 30 years as the CEO of AICPA and CIMA. He shares his remarkable journey from rural Louisiana to prominent global platforms. Melancon emphasizes the evolution of the accounting industry and the necessity for adaptability. He discusses the critical role of trust, highlighting that the world is increasingly devoid of it, and explores how effective leadership hinges on nurturing transparency and collaboration.

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, an executive director at the Financial Technology & Cybersecurity Center and former federal banking regulator, dives into the rush of technology adoption. He warns of the irrational euphoria surrounding these advances and stresses the importance of returning to the internet's original purpose. Vartanian discusses the critical vulnerabilities in cybersecurity, especially with threats like Vault Typhoon, and calls for strong leadership to navigate these challenges. Ultimately, he emphasizes the need for a balanced approach in the face of rapid tech evolution.