About this episode
In this episode of The Accounting Podcast, Blake and David discuss the economic impact of Taylor Swift's "The Eras Tour," Microsoft's CoPilot price with AI, the SEC vs Ripple case decision, the launch of FedNow, and a bill proposed by two senators to ban lawmakers from owning stocks. They also dig into stories about Apple's work on AppleGPT, software spending rising 25% over the last 12 months, the 150-hour rule, and the lack of black accountants in the profession. They dive into a case study for good marketing in accounting, ClientEarth warning Big 6 audit firms to protect the planet, a WSJ editorial board blaming accounting shortage on Biden, and close with a few fast QuickBooks stories, and much more! Sponsors LiveFlow - https://cloudaccountingpodcast.promo/liveflow Zoho - https://cloudaccountingpodcast.promo/zoho Accruer - http://accountingpodcast.promo/accruer Chapters (00:04) - Preview: Taylor Swift's "The Eras Tour" economic impact (00:53) - Welcome to The Accounting Podcast and a quick overview of topics for this episode (03:16) - Microsoft announces CoPilot price with AI (10:24) - SEC vs Ripple case decision (19:08) - FedNow finally launched (25:16) - Two senators are proposing bill on ban of lawmakers owning stocks (27:50) - Blake checks in on the live chat (28:30) - Apple working on AppleGPT (30:46) - Software spending rose 25% over the last 12 months (33:12) - Article on the 150-hour rule and lack of black accountants in the profession (35:54) - Blake and David look at a case study for good marketing in accounting (39:11) - Taylor Swift's billion-dollar impact on the economy (42:15) - ClientEarth warning Big 6 audit firms to protect the planet (44:31) - WSJ editorial board blames accounting shortage on Biden (51:04) - Bench Accounting (51:41) - 3 fast QuickBooks stories (54:01) - Accounting startup Dougs raises $27 million (55:06) - Shopify builds in a Zoom cost calculator (56:59) - Shopify releases AI update (01:00:49) - Blake reads some listener mail (01:04:01) - Wrap up and where to reach David and Blake 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 Sens. Kirsten Gillibrand and Josh Hawley to unveil a bill to bar executive-branch members and lawmakers from owning stock in individual companies https://www.wsj.com/articles/senators-to-propose-ban-on-u-s-lawmakers-executive-branch-members-owning-stock-6db6411 New comment on "339. 15-Year-Old Passes CPA Exam; NY Requires Independent Audits of AI Hiring Processes" https://mail.google.com/mail/u/0/#inbox/FMfcgzGtwCxwDBHndZBtfKHkBgCgXhpr Taylor Swift's Economic Impact Has Caught the Eye of the Fed https://markets.businessinsider.com/news/stocks/taylor-swifts-economic-impact-catches-attention-federal-reserve-hotel-revenue-2023-7 After bootstrapping for 8 years, accounting startup Dougs raises $27 million | TechCrunch https://techcrunch.com/2023/07/04/after-bootstrapping-for-8-years-accounting-startup-dougs-raises-27-million/ Shopify's crusade against Zoom meetings now includes a cost calculator: 'Most of the modern work environment is broken' https://fortune.com/2023/07/12/remote-work-zoom-meeting-shopify-cost-calculator-modern-work-broken/ Shopify Sidekick video https://twitter.com/tobi/status/1679114154756669441?s=20 Bridging the Gap: Between the Generations https://www.intuitiveaccountant.com/education-hub/training-center/bridging-the-gap-between-the-generations/ ☕️ NOW, FED ☙ Friday, July 21, 2023 ☙ C&C NEWS 🦠 https://www.coffeeandcovid.com/p/now-fed-friday-july-21-2023-c-and KPMG Rolls Out Generative AI to Tax Pros, Launches Audit Pilot https://news.bloombergtax.com/financial-accounting/kpmg-rolls-out-generative-ai-to-tax-pros-launches-audit-pilot QuickBooks Checking Simplifies Bank Feeds Matching https://www.intuitiveaccountant.com/accounting-tech/general-ledger/quickbooks-checking-simplifies-bank-feeds-matching/ Big Six senior leadership missing in action on climate reporting and ... https://www.clientearth.org/latest/press-office/press/big-six-senior-leadership-missing-in-action-on-climate-reporting-and-audit/ FedNow launch: Fed's new instant payment system, goes live July 20 https://www.usatoday.com/story/money/2023/07/20/fednow-launch-fed-instant-pay-service/70434964007/ Accounting firms accused of missing climate risks in company audits https://www.ft.com/content/befa329f-43bb-42fb-baeb-e0ae22d68acf The Biden Accounting Jobs Boom - WSJ https://www.wsj.com/articles/tax-accounting-jobs-boom-biden-economy-taxes-internal-revenue-service-8db189ae QuickBooks Time Now QuickBooks Workforce https://www.intuitiveaccountant.com/accounting-tech/general-ledger/quickbooks-time-now-quickbooks-workforce/ Why the CPA qualification’s 150-hour college credit rule is outdated–and inequitable