CPA CONVERSATIONS PODCAST

The CPA Conversations podcast series focuses on accounting-related news and hot topics.

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Episodes

Nonprofit CPAs: There’s No “Mission Accomplished” Without Understanding Performance

Apr 27, 2020

Stemming from a blog he authored for PICPA’s CPA Now, Michael Cade, strategy consultant and executive coach for MFCCoach LLC in Morrisville, joins us to discuss how vital it is for CPAs at nonprofits to understand organizational performance if they are going to help their employers achieve their missions. He provides details on critical driver analytics and communicating with nonprofit leaders. Get more insights from Cade at his blog, Not for Profit – Beyond the Numbers.

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More Paycheck Protection Program Funding Needed for Small Businesses

Apr 22, 2020

In early April 2020, the Paycheck Protection Program was established to help support small businesses suffering at the hands of the coronavirus pandemic. But the $349 billion originally allotted to the fund quickly dried up. According to Carl Peterson, AICPA’s vice president of small firm interests, additional funds need to be made available as soon as possible, and the timing of the eight-week payroll support needs flexibility.

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Separating Stewardship and SGNA Is Vital Under the TCJA

Apr 20, 2020

For tax purposes, stewardship and selling, general, and administrative expenses are often viewed as one and the same. Brian Abbey and Raymond Wynman, managing directors at Global Tax Management Inc., join us to drive home why, now that 2017’s Tax Cuts and Jobs Act has settled in, it is important for taxpayers to accurately separate the two categories when filing their taxes.

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Keys to Surviving and Thriving in Public Accounting

Apr 17, 2020

In a podcast related to her feature in PICPA’s Guide to CPA Careers in a Changing Business Landscape, this year’s digital-only special edition of the Pennsylvania CPA Journal, Lauren Lear, manager of finance and accounting outsourcing for RSM US LLP in Plymouth Meeting, Pa., recounts her experiences in the public accounting field. She offers tips for staying organized, relieving stress, and taking advantage of all the benefits a life in public accounting offers.

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Strong Client Service during COVID-19 Will Help You Build for the Future

Apr 16, 2020

Sometimes it may be hard to believe, but the coronavirus pandemic will eventually conclude. When the experience has passed, the CPA firms who are most likely to survive are the ones who extended the best experience to their clients during the struggle. According to Sarah Johnson Dobek, founder and president of Inovautus Consulting, president of CPAsNET, and a member of the Accounting Today Top 100 Most Influential People, that experience includes reaching out to clients to get a feel for how they are dealing with an unprecedented situation, prioritizing discussions with your best clients, and being empathetic in the area of fee collection.

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Inside the CARES Act: Effect on Tax Professionals, Small Businesses, and More

Apr 15, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law March 27, 2020, to provide economic relief for American taxpayers and businesses who are struggling during the fight against the COVID-19 pandemic. Julio Gonzalez, CEO and founder of Engineered Tax Services, joins us to discuss the goals of the legislation, its impact on tax professionals, and steps small businesses can take to leverage its benefits in these distressing times.

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Engaging Clients, Teams, and Employees During Coronavirus and Beyond

Apr 14, 2020

There is great fear that the mass isolation brought about by the coronavirus will erode the relationships that CPAs have cultivated with clients, colleagues, and employees, but that doesn’t have to be case, says our guest, Amy Leschke-Kahle, vice president of performance acceleration at The Marcus Buckingham Group, an ADP Company. In today’s discussion, she offers tips for engagement that can last through the struggles of the pandemic and still be applied once we all have returned to normalcy.

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Solidify Your CPA Bona Fides by Bolstering Soft Skills

Apr 13, 2020

For CPAs, the need for technical proficiency and an awareness of changes to standards and regulations will never go away. Still, in a competitive marketplace, the possession of CPA soft skills takes on an even larger importance. To talk through several of these skills, such as networking, social media marketing, and personal branding, we met with Edward Mendlowitz, a partner with Withum Smith+Brown, an author of 27 books, and a member of the Accounting Today Top 100 Most Influential People in Accounting.

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Client Service Must-Haves for CPA Firms

Apr 9, 2020

In the second of our five-part monthly series on the top priorities for CPA firm management, Ira Rosenbloom of Optimum Strategies in Spring House, Pa., explores the qualities that service systems must have to satisfy clients. Among the traits he touches upon are accessibility, proactivity, and time-sensitivity.

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OMB Addresses COVID-19’s Effect on Single Audits

Apr 7, 2020

On March 19, the Office of Management and Budget released Administrative Relief for Recipients and Applicants of Federal Financial Assistance Directly Impacted by the Novel Coronavirus Due to Loss of Operations. This memorandum is set to have a major impact on how single audits are performed in the near term. To discuss this guidance, Maher Duessel’s Diane Edelstein addresses the six-month extension to the single audit due date, the amount of documentation needed to explain the delayed filing, and additional single audit matters that will likely require guidance in the near future.

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Eliminate the Costly Mistake of Overpaying Suppliers

Apr 6, 2020

For a business, overpayment to a supplier can cause numerous complications. Not only might it result in damage to the company’s financial standing, it can also result in a time-consuming process to recover the lost funds. To walk us through how a company can ensure that it does not make such problematic mistakes, we met with Phil Beane, senior vice president of global field operations for APEX.

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AICPA: More Coronavirus Tax Relief Needed from IRS and Treasury

Mar 31, 2020

While the IRS has posted guidance on the postponement of tax-filing and payment deadlines, there are still many more questions to be answered and concerns to be addressed for American taxpayers during the coronavirus pandemic. That’s why the AICPA is calling for additional and “extensive” relief to be offered to those attempting to navigate an unprecedented economic disruption, not only to tax season but also to everyday life. To talk about AICPA’s recommendations, we met with Edward Karl, AICPA’s vice president of taxation.

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The Role of Defined Benefit Plans in the Future of Business

Mar 30, 2020

In our latest episode, Elliot Dinkin, president and CEO of Cowden Associates in Pittsburgh, joins us to discuss the current state of defined benefit plans, where they stand in the short and long term, and employee benefit plan derisking strategies.

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Clarifying the Treatment for Nonfinancial Contributions

Mar 23, 2020

The Financial Accounting Standards Board is seeking to clarify the reporting of nonfinancial contributions to nonprofits, so it released the first draft of a proposed Accounting Standards Update on the topic. Ahead of the April 10 deadline for comment, we talked with Michael Cade, strategy consultant and executive coach for MFCCoach LLC in Morrisville, Pa., to get his thoughts on the proposed ASU. You can also get more insights from Cade at his blog, Not for Profit – Beyond the Numbers.

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Drug Diversion Risk Mitigation Practices Vital for Health Care Organizations

Mar 16, 2020

Drug diversion, which is the transfer of a legally prescribed controlled substance from the individual for whom it was prescribed to another person for illicit use, is a national crisis that affects both public health and social and economic welfare. These activities can harm patients, health care professionals, and the organizations that employ them. It’s important for C suite professionals at health care organizations and CPA business advisers to play an active role in formulating a comprehensive risk and internal audit approach for drug diversion and protection. To discuss these issues, we spoke with Janice Ahlstrom and Kim Wylam of Baker Tilly Virchow Krause LLP. For even more details, check out their informative white paper on the issue.

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Coronavirus: The Economic Effect on Pennsylvania and the Nation

Mar 13, 2020

COVID-19, or coronavirus, is having a major impact on both a national and global scale. We have seen the postponing and cancellation of major sporting and cultural events and even the locking down of entire countries. In this discussion with Pennsylvania state Rep. Frank Ryan, we explore the effect the outbreak is having on Pennsylvania, both on its economy or the health of its citizens. Make sure to check out PICPA’s webpage dedicated to the effects of coronavirus for information on upcoming PICPA events and additional resources.

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Research and Development: A Valuable Tax-Savings Tool Post-TCJA

Mar 9, 2020

The Tax Cuts and Jobs Act of 2017 eliminated many of the common credits and incentives that businesses relied upon to lessen their tax burden, but the research and development tax credit remains. In this episode, Mike Krajcer, CPA, JD, president of Tax Credits Group LLC in Cleveland, discusses the companies that are eligible to claim the R&D credit, the benefits a company could expect to receive, and more.

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Monthly Series on Firm Management: Top Metrics to Monitor

Mar 5, 2020

In the first of a five-part series on the priorities for CPA firm management, Ira Rosenbloom of Optimum Strategies in Spring House, Pa., joins us to discuss the top five metric categories to keep an eye on to ensure success. Among the factors he covers are achieved rate per hour, gross profit margin, and pipeline management and turnover.

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Leadership Imperatives for the Finance Team of the Future

Mar 2, 2020

In a podcast connected to his feature in the spring 2020 Pennsylvania CPA Journal, James J. Caruso, CPA, CGMA, discusses the finance team of the future and how leaders will have to evolve into ensure long-term success. He points to the learning finance teams will have to pursue, the value of intellectual curiosity to sustained individual growth, and the importance of communicating organizational purpose on a departmental level.

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Talking to Yourself: CPA’s Letter to Herself Offers Career Development Advice

Feb 24, 2020

In the Careers & Lifestyles column of the spring 2020 Pennsylvania CPA Journal, Elizabeth Wilson, chief financial officer for Valley National Financial Advisors in Bethlehem, Pa., details how an interview for a tax season intern inspired her to write a letter to her younger self as a helpful word of advice to CPAs just starting out in the profession. In this podcast, she more deeply explores her tips for young CPAs, the ways writing the letter drove her to reflect upon her own experiences, and insights the self-communication provided on potential areas of growth.

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