Blake and David, joined by guest Amber Setter, dive into the California Board of Accountancy's move to create legislation for an alternative to the 150-hour rule for CPA licensure. They discuss the potential impact on the accounting profession, the need for modernization, and the challenges faced by aspiring CPAs. The conversation also touches on various industry updates, including firm mergers, government accounting practices, and the role of AI in the profession.

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Chapters

(00:43) - California Board of Accountancy's New Legislation
(04:49) - California Survey Results and Implications
(06:50) - Challenges and Opportunities in CPA Licensure
(08:34) - California's Legislative Efforts and Broader Impacts
(10:41) - AICPA's Response and Pipeline Issues
(17:01) - Thank You to Our Sponsor, LiveFlow
(18:48) - Major Accounting Firm Merger: CBiz and Marcum
(22:51) - Pentagon's Ukraine Accounting Error
(25:42) - Intuit's Blog Post on AI Use During Tax Season
(27:35) - AI Innovations in Tax Compliance and Document Collection
(31:47) - Promoting Accounting as a Career
(35:42) - Thank You to Our Sponsor, Lendflow
(40:15) - The Appeal of Early Retirement in Accounting
(41:27) - Promoting Government Accounting Jobs
(42:46) - Listener Mail: Critiques and Suggestions
(45:21) - Career Advice for Aspiring Accountants
(46:24) - Thank You to Our Sponsor, The Ambitious Bookkeeper
(48:05) - The Value of Practical Accounting Education
(50:34) - The CGMA Designation
(56:47) - Thank You to Our Sponsor, Practice Protect
(58:29) - Government Budgeting and Lost Funds
(01:02:22) - The Future of the CPA Profession
(01:07:29) - Outsourcing and Final Thoughts

Show Notes

CBA Meeting Recap – July 25 & 26, 2024

https://www.youtube.com/watch?v=jwrHaReBrIY

Marcum to be Acquired by CBIZ

https://www.latimes.com/b2bpublishing/business-announcements/story/2024-08-01/marcum-to-be-acquired-by-cbiz

Pentagon finds another $2 billion of accounting errors for Ukraine aid

https://www.reuters.com/world/us/pentagon-finds-another-2-billion-accounting-errors-ukraine-aid-2024-07-25/

How Intuit transformed tax filing experiences for millions of consumers with AI/GenAI this tax season

https://www.intuit.com/blog/innovative-thinking/tech-innovation/how-intuit-transformed-tax-filing-experiences/

Avalara Adds Generative Chat to Bolster Support and Product Experiences for Customers and Partners

https://newsroom.avalara.com/2024-08-01-Avalara-Adds-Generative-Chat-to-Bolster-Support-and-Product-Experiences-for-Customers-and-Partners

‘I walked away from my $170K job’: This accountant quit at 41 to live off dividends from his $1.25 million portfolio — here's what it would take for you to do the same

https://moneywise.com/investing/stocks/accountant-quit-live-off-dividends-portfolio

Chartered Accountants - The Accountants - 45" Video

https://www.youtube.com/watch?v=hma6ce-KT3I

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Will California Be First to Deconstruct the 150 Hour Rule?

The Accounting Podcast