About this episode
FTX had 80,000 transactions in Ask My Accountant; the crazy cost accounting behind EY's failed breakup; using ChatGPT for financial statement analysis; what the tech world thinks AI will automate in accounting and more! Sponsors LiveFlow - https://cloudaccountingpodcast.promo/liveflow Chapters (00:00) - CAP 329 (00:39) - PREVIEW: How ChatGPT saved Erica (01:09) - Introduction (07:48) - FTX had 80,000 transactions in Ask My Accountant (12:04) - Blake plays a clip from the All-In podcast on AI accounting (17:25) - ChatGPT vs real accountants and students on tests (25:48) - Hector Garcia's example of using ChatGPT for analysing financial statements (31:24) - Is Erica using ChatGPT at all in her firm? (36:18) - EY breakup news (42:13) - Donna's voicemail on her sons college tour and accounting majors (48:18) - Deloitte kicks off program for high school students to earn accounting credits (49:29) - Can AI help save education? (52:48) - The IRS shows customer service improvements in 2023 (54:22) - Are accountants actually experiencing a better tax season? (01:01:49) - Crazy MYOB commercial (01:03:41) - Wrap up and where to reach everyone Need CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com Get CPE for listening to podcasts with Earmark CPE: https://earmarkcpe Show Notes Blake Oliver on Twitter: "My speaking session was selected for #Expensicon” https://twitter.com/BlakeTOliver/status/1649440639355097088 SURVEY: Busy Season Looking Good - CPA Trendlines https://cpatrendlines.com/2023/04/10/survey-busy-season-looking-good/ EY Confronts Slowing Growth After Breakup Deal Fails - WSJ https://www.wsj.com/articles/ey-confronts-slowing-growth-after-breakup-deal-fails-9442c85d Magic Workflow: AI-Powered Workflow and Process Generator https://clienthub.app/blog/new-feature-magic-workflowai-powered-workflow-and-process-generator/ Ernst & Young has axed its plan for a split of its auditing and consulting arms, marking a dramatic and costly retreat https://www.wsj.com/articles/ernst-young-halts-breakup-plan-bd2e2fa0 Is that the IRS with your refund? No, it's a ChatGPT scam https://www.politico.com/newsletters/weekly-tax/2023/04/17/is-that-the-irs-with-your-refund-no-its-a-chatgpt-scam-00092169 Taylor Swift avoided $100 million FTX deal with securities question: lawyer https://www.businessinsider.com/taylor-swift-avoided-100-million-ftx-deal-with-securities-question-2023-4 ChatGPT less than 50% accurate in accounting exams, study finds https://www.accountancyage.com/2023/04/21/chatgpt-less-than-50-accurate-in-accounting-exams-study-finds/ Get in Touch Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary . Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes , or Podchaser . Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus , and NOW, you can see our smiling faces on Instagram ! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040 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 Podchaser: http://cloudacctpod.link/podchaser Spotify: http://cloudacctpod.link/Spotify Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast YouTube: https://www.youtube.com/c/CloudAccountingPodcast Classifieds Client Hub - https://clienthub.app/ RightTool for QuickBooks Online - https://righttool.app Future Firm Accelerate - https://futurefirmaccelerate.com/cap Uncat - https://www.uncat.com/ Nett Tracker - h ttps://www.nett-tracker.com/ Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd The full transcript for this episode is available by clicking on the Transcript tab at the top of this page