The Accounting Podcast

The Accounting Podcast Trailer Bonus Episode 209 Season 1

Big 4 Accounting Firms Take Big Stand

Big 4 Accounting Firms Take Big StandBig 4 Accounting Firms Take Big Stand

00:00

We hope you're enjoying your extended free trial of 2021! We've got lots of news to share in today's episode, including how Big 4 leaders reacted to the Capitol riot, and some tips and tricks on how to avoid being de-platformed (like a certain president). Plus, there's more news on the kickoff of PPP 2.0, stimulus payment issues, agent fees, and such. In app news, we'll talk about Pennylane's fundraising to build software plus an accounting service, the departure of a neobank, Azlo, Avalara's new Cloud Sales Tax Returns solution, and more. We'll take a "look" at BKD's film noir, "The Missing Deduction," examine what FASB plans to tackle, like Goodwill, in 2021, and unearth some other interesting accounting-related tidbits.

Show Notes

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Show Notes

3:28 - Accounting firm heads urge Congress to accept Electoral College results
https://www.accountingtoday.com/news/accounting-firm-heads-business-leaders-urge-congress-to-accept-electoral-college-results
 
3:37 - Firm leaders weigh in on storming of Capitol building
https://www.accountingtoday.com/news/firm-leaders-weigh-in-on-storming-of-capitol-building
 
7:35 - Trump Loses Social Media Megaphone as Facebook, Twitch Act
https://www.bloomberg.com/news/articles/2021-01-07/facebook-instagram-restrictions-on-trump-accounts-extended
 
10:38 - Why it's imperative to own your own marketing channels
 
13:41 - Employers cut 140K jobs in December, but added 2.3K in accounting
https://www.accountingtoday.com/news/employers-cut-140k-jobs-in-december-but-added-2-3k-in-accounting
 
15:05 - A Week Into Full Brexit, the Pain for U.K. Businesses Has Arrived
https://www.nytimes.com/2021/01/09/business/Brexit-British-economy.html
 
17:00 - With Congress approving up to $284 billion to loans, small businesses can apply for Paycheck Protection starting Jan. 11
https://www.cnbc.com/2021/01/08/small-businesses-can-apply-for-ppp-loans-starting-jan-11.html
 
Date set for limited PPP reopening
https://www.journalofaccountancy.com/news/2021/jan/ppp-application-reopening-date.html
                
17:40 - TurboTax and H&R Block say they have fixed the issues that prevented $600 stimulus checks from being paid out
https://www.businessinsider.com/turbotax-hr-block-fixed-issues-delaying-stimulus-payments-2021-1
 
18:32 - Treasury issues millions of second Economic Impact Payments by debit card | Internal Revenue Service
https://www.irs.gov/newsroom/treasury-issues-millions-of-second-economic-impact-payments-by-debit-card
 
20:51- Banks Withhold Stimulus To Cover Overdraft Feeshttps://www.pymnts.com/bank-regulation/2021/banks-may-withhold-stimulus-checks-to-cover-overdraft-fees/
 
21:25 - Stimulus law may put disputes over PPP agent fees to rest for banks
https://www.americanbanker.com/news/stimulus-law-may-put-disputes-over-ppp-agent-fees-to-rest-for-banks
 
24:15 - Ted Callahan announced as new accountant business leader for Intuit’s Small Business Self-Employed Group - Firm of the Future https://www.firmofthefuture.com/content/ted-callahan-announced-as-new-accountant-business-leader-for-intuits-small-business-self-employed-group/
 
25:52 - Pennylane raises $18.4 million for its accounting service https://techcrunch.com/2021/01/07/pennylane-raises-18-4-million-for-its-accounting-service/
 
30:21 - Avalara Unveils Cloud Sales Tax Returns Solution for Accounting Firms of All Sizes https://www.businesswire.com/news/home/20210107005090/en/Avalara-Unveils-Cloud-Sales-Tax-Returns-Solution-for-Accounting-Firms-of-All-Sizes
 
31:41 - Deloitte deal makes Tax Analysts’ law library publichttps://www.accountingtoday.com/news/deloitte-deal-makes-tax-analysts-law-library-public
 
33:05 - Go Forth and Azlohttps://www.azlo.com/blog/go-forth-and-azlo
 
39:00 - IRS overlooks billions in potential taxes from nonfilers
https://www.accountingtoday.com/news/irs-overlooks-billions-in-potential-taxes-from-nonfilers-and-underreporters
 
42:36 - BKD premieres film noir tax parody
https://www.accountingtoday.com/news/bkd-helms-tax-film-noir-short
 
45:18 - EY and Microsoft expand Xbox blockchain smart contract platform
https://www.accountingtoday.com/news/ey-and-microsoft-expand-xbox-blockchain-smart-contract-platform
 
46:33 - U.S. Accounting Standard-Setter Looks to Tackle Controversial Topics in 2021 https://www.wsj.com/articles/u-s-accounting-standard-setter-looks-to-tackle-controversial-topics-in-2021-11609434034
 
47:23 - Cost Versus Value: Is GAAP Obsolete? 
https://www.accountingtoday.com/opinion/cost-versus-value-is-gaap-obsolete


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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.