The Accounting Podcast

The Accounting Podcast Trailer Bonus Episode 335 Season 1

IRS Loses $10 Billion In Debt Ceiling Deal & Proof ChatGPT Massively Increases Productivity

00:00
Why AICPA's 12-point plan won't solve the CPA crisis; Earnings reports from Intuit, Sage, and Xero; Ramp adds AI features to spend management platform; why grads are ditching jobs at the Big Four; 70% of Gen Z employees would switch jobs for better tech, and more!


Chapters
  • (00:00) - IRS Loses $10 Billion In Debt Ceiling Deal & Proof ChatGPT Massively Increases Productivity
  • (00:52) - Welcome to the show
  • (04:52) - Potential debt-ceiling deal cuts IRS funding by $10 billion
  • (07:38) - Chat GPT made workers 37% faster at completing tasks
  • (11:44) - Accounting Today has ChatGPT retake the CPA exam
  • (16:36) - Number of people taking accountancy exams drops to lowest level in 17 years
  • (19:23) - WSJ article on the accounting industry’s low starting pay problem
  • (23:35) - The AICPA's 12-point plan to solve the accountant shortage
  • (35:13) - Thetab.com article on why grads are ditching jobs at Big Four firms
  • (38:13) - Update on the IRS's Free File tax system
  • (41:18) - Let's talk about the Intuit earnings call
  • (46:38) - Sage had their earnings call
  • (48:43) - Ramp announces "Ramp Intelligence"
  • (53:31) - Employee satisfaction reached an all-time high last year
  • (55:33) - Gen Z employees would change jobs for better tech
  • (01:01:34) - Wrap up and where to reach us. See you at AICPA Engage!

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Show Notes
New MIT Research Shows Spectacular Increase In White Collar Productivity From ChatGPT – JOSH BERSIN
https://joshbersin.com/2023/03/new-mit-research-shows-spectacular-increase-in-white-collar-productivity-from-chatgpt/
 
ChatGPT retakes CPA Exam as v4.0, passes | Accounting Today
https://www.accountingtoday.com/news/chatgpt-retakes-cpa-exam-as-v4-0-passes
 
AICPA Council approves CPA pipeline plan | Accounting Today
https://www.accountingtoday.com/news/aicpa-council-approves-cpa-pipeline-plan
 
70% of Gen Z Employees Say They Would Switch Jobs for Better Tech: Weekly Stat
https://www.cfo.com/human-capital/workforce-management/2023/05/gen-z-gen-x-baby-boomer-millennials-technology-work-environments-productivity-work-life-balance/
 
AICPA details plans to boost CPA pipeline | Accounting Today
https://www.accountingtoday.com/news/aicpa-details-plans-to-boost-cpa-pipeline
 
Overworked and underpaid: Why grads are ditching jobs at the Big Four
https://thetab.com/uk/2023/05/10/big-four-grad-scheme-whats-it-like-306634
 
The Future of AI in Finance is Here | Ramp Intelligence
https://ramp.com/intelligence
 
Numbers taking US accountancy exams drop to lowest level in 17 years | Financial Times
https://www.ft.com/content/e8dc2264-6b8d-4ed5-8bbd-e4a67e7d1e46
 
Avii Announces Significant Uplifts to Financial Modules In Avii ...
https://www.businesswire.com/news/home/20230508005420/en/Avii-Announces-Significant-Uplifts-to-Financial-Modules-In-Avii-WorkspaceTM-Platform-for-Accounting-Firms
 
Overworked and underpaid: Why grads are ditching jobs at the Big Four
https://thetab.com/uk/2023/05/10/big-four-grad-scheme-whats-it-like-306634
 
Sage Intact Launches Native AP Bill Automation to Cut Down on ...
https://www.digitaljournal.com/pr/news/pr-zen/sage-intact-launches-native-ap-bill-automation-to-cut-down-on-invoice-processing-time
 
Intuit Inc. (INTU) Q3 2023 Earnings Call Transcript              
https://seekingalpha.com/article/4606883-intuit-inc-intu-q3-2023-earnings-call-transcript
 
Intuit (INTU) Reports Q3 Earnings: What Key Metrics Have to Say
https://www.zacks.com/stock/news/2098768/intuit-intu-reports-q3-earnings-what-key-metrics-have-to-say
 
ChatGPT retakes CPA Exam as v4.0, passes            
https://www.accountingtoday.com/news/chatgpt-retakes-cpa-exam-as-v4-0-passes
 
Xero reports 28% year-over-year growth https://www.accountingtoday.com/news/xero-reports-28-year-over-year-growth
 
Pentagon Says Accounting Mistake Leaves U.S. With $3 Billion ...
https://www.wsj.com/articles/accounting-error-leaves-pentagon-with-3-billion-more-in-arms-for-ukraine-u-s-says-6d6f4576
 
AICPA details plans to boost the CPA pipeline                
https://www.accountingtoday.com/news/aicpa-details-plans-to-boost-cpa-pipeline
 
AICPA releases expanded plan for addressing CPA pipeline ...
https://www.journalofaccountancy.com/news/2023/may/aicpa-releases-expanded-plan-addressing-cpa-pipeline-challenges.html
 
IRS to pilot free tax prep system in January            
https://www.accountingtoday.com/news/irs-to-pilot-free-tax-prep-system-in-january
 
Why Graduates Aren't Hot on Accounting Careers: Low Starting Pay ...
https://www.wsj.com/articles/why-graduates-arent-hot-on-accounting-careers-low-starting-pay-onerous-testing-c05bf267
 
Software giant Sage strikes deal for US construction platform Corecon
https://www.business-live.co.uk/technology/software-giant-sage-strikes-deal-26883546
 
Plan to accelerate talent pipeline solutions | Resources   
https://www.aicpa-cima.com/resources/article/draft-plan-to-accelerate-talent-pipeline-solutions
 
QuickBooks Connect Returning to Las Vegas in 2023
https://www.intuitiveaccountant.com/education-hub/training-center/quickbooks-connect-returning-to-las-vegas-2023/
 
AICPA Council approves CPA pipeline plan              
https://www.accountingtoday.com/news/aicpa-council-approves-cpa-pipeline-plan
 
Intuit's (INTU) Q3 Earnings Beat Expectations, Sales Miss (Revised)
https://finance.yahoo.com/news/intuits-intu-q3-earnings-beat-080700418.html
 
The Sage Group plc (SGGEF) Q2 2023 Earnings Call Transcript
https://seekingalpha.com/article/4605500-sage-group-plc-sggef-q2-2023-earnings-call-transcript
 
Financial results announcements | Sage Investor Relations
https://www.sage.com/investors/financial-information/results/
 
Sage Group 1H Revenue Beat Consensus as Underlying ARR Rose -- Earnings Review
https://www.marketwatch.com/story/sage-group-1h-revenue-beat-consensus-as-underlying-arr-rose-earnings-review-daf93f65

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Creators & Guests

Host
Blake Oliver
Founder and CEO of Earmark CPE
Host
David Leary
President and Founder, Sombrero Apps Company

What is The Accounting Podcast?

The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.