The Big Money In AI & The Impact of the Ripple Crypto Decision

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!

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(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

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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