Blake and David examine Blake's month-long working vacation in Southern California, and talk benefits of remote work for accountants. They also explore recent surveys on accounting firm satisfaction and the use of AI in tax practices and then delve into the ongoing accountant shortage, its impact on internal controls, and the challenges of recruiting new talent to the profession. Additionally, there's talk about the persistence of paper checks in certain industries and the evolving landscape of accounting firm partnerships.

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Chapters

(01:14) - How Blake Made His Summer Vacation in Southern California Possible
(12:51) - Accountants Are Number 2 Happiest Workers
(18:12) - Equity vs Non-Equity Partners at Firms
(20:41) - Private Equity in Accounting Firms
(24:44) - Thank You to Our Sponsor, LiveFlow
(26:03) - Engaging the Next Generation of Accountants
(28:59) - The Accountant Shortage and Its Impact on Capital Markets
(32:08) - The Persistence of Paper Checks in a Digital World
(33:48) - Generative AI in Tax Preparation: A Divided Opinion
(36:09) - AI's Role in Accounting and the Future of the Profession
(41:13) - Thank You to Our Sponsor, Zoho
(44:56) - Thank You to Our Sponsor, Lendflow
(47:43) - Listener Mail: The Big Four Experience Debate
(51:04) - Thank You to Our Sponsor, GenWise
(52:36) - Final Thoughts and Announcements

Show Notes

Accountants Among the Happiest Workers in the U.S., New Study Finds

https://www.cpapracticeadvisor.com/2024/07/22/accountants-among-the-happiest-workers-in-the-u-s-study-finds/108298/

Number of the Day: $839,687

https://www.cpapracticeadvisor.com/2024/07/22/number-of-the-day-839687/108273/

New York State Society of CPAs

https://www.nysscpa.org/

The Accountant Shortage Highlights How Critical Accounting Is to Capital Markets | Smith School
https://www.rhsmith.umd.edu/research/accountant-shortage-highlights-how-critical-accounting-capital-markets

Why Paper Checks Refuse to Die - The New York Times
https://www.nytimes.com/2024/07/24/business/paper-check-payment-fraud-scam.html

Tax practitioners both excited and concerned about gen AI says Thomson Reuters | Accounting Today
https://www.accountingtoday.com/news/tax-practitioners-both-excited-and-concerned-about-gen-ai-says-thomson-reuters

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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

What I Did On My Summer Vacation

The Accounting Podcast