About this episode
In this episode, Blake and David dive into Intuit's strategic shift towards enterprise solutions, discussing the potential impact on the accounting industry. They also examine some recent economic trends, including the U.S. debt situation and its comparison to historical empires. They then get into audit deficiency rates reported by the PCAOB, highlighting the need for transparency and reform in the auditing profession. There's also talk AI applications in education, recent accounting scandals, and more challenges facing the accounting industry. Sponsors OnPay - http://accountingpodcast.promo/onpay Relay - http://accountingpodcast.promo/relay Makers Hub - http://accountingpodcast.promo/makershub Chapters (01:50) - Intuit's Strategic Shift to Enterprise (04:42) - Intuit's Pricing and Market Position (13:11) - Economic Outlook and Accountants' Perspectives (21:45) - China's Debt and Bankruptcy System (28:52) - Listener Mail and Industry Insights (35:56) - A Compromise Between Hourly Billing and Subscription Pricing (45:33) - AI as a Personal Tutor (46:34) - Understanding SAFE Notes (54:24) - AI in Retail and Business (01:01:47) - Audit Deficiencies and Industry Issues (01:25:34) - Conclusion and Final Thoughts Show Notes Intuit (INTU) Q4 2024 Earnings Call Transcript https://www.fool.com/earnings/call-transcripts/2024/08/22/intuit-intu-q4-2024-earnings-call-transcript/ 6 podcast episodes CFOs should listen to before summer ends https://www.cfo.com/news/6-podcast-episodes-cfos-should-listen-to-accounting-podcast-strategic-cfo-360-rockstar-cfo/723667/ Accountants bearish, mostly https://www.accountingtoday.com/news/accountants-bearish-mostly-save-for-their-own-firm-and-clients Goldman Sachs Lowers Probability of US Recession https://www.investopedia.com/goldman-sachs-lowers-probability-of-us-recession-8697194 China’s Punishment for People With Bad Debts: No Fast Trains or Nice Hotels https://www.wsj.com/world/china/chinas-punishment-for-people-with-bad-debts-no-fast-trains-or-nice-hotels-bde24da2 Target to Roll Out Transformative GenAI Technology to its Store Team Members Chainwide https://corporate.target.com/press/release/2024/06/target-to-roll-out-transformative-genai-technology-to-its-store-team-members-chainwide N.J. Accounting Professor Convicted of Tax Evasion https://www.cpapracticeadvisor.com/2024/08/19/n-j-accounting-professor-convicted-of-tax-evasion/109210/ Everyone from the sunken yacht off Sicily has now been accounted for https://www.npr.org/2024/08/22/g-s1-18939/tech-mogul-mike-lynchs-body-is-found-as-the-search-goes-on-for-1-more-yacht-passenger PCAOB Posts 2023 Annual Inspection Reports Alongside Staff Observations and New Charts To Boost Transparency https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-posts-2023-annual-inspection-reports-alongside-staff-observations-new-charts-to-boost-transparency EY Sheds U.S. Audit Clients in Response to Shortfalls https://www.wsj.com/articles/ey-sheds-u-s-audit-clients-in-response-to-shortfalls-2ba1172e Regulator Explores Naming Companies Tied to Auditing Deficiencies Amid Investor Pushback https://www.wsj.com/articles/regulator-explores-naming-companies-tied-to-auditing-deficiencies-amid-investor-pushback-8ee1d1f3 Auditors failed to raise alarm before 75% of UK corporate collapses https://www.ft.com/content/14a63c36-ba27-495c-96c0-3d34460d73cc Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com Get in Touch Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary . Find us on Facebook and Instagram . If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser . Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040. Sponsorships Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus . Need Accounting Conference Info? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher