There’s a lot to digest in this episode! Blake and David discuss Microsoft's $28.9 billion tax bill, and examine a tax-fraud scheme involving art donations. JPMorgan Chase CEO Jamie Dimon predicts that AI advancements will create a shorter workweek in the future. They also look at Xero’s newest features, including improved algorithms for recognizing new contacts and bank reconciliation statements, and talk about Grant Thornton's implementation of Git Assist, an AI tool for accessing internal knowledge resources. All this and so much more, right here, right now! SponsorsZoho - http://accountingpodcast.promo/zohoKeeper - https://cloudaccountingpodcast.promo/keeperSouth Carolina Association of CPAs (SCACPA) - http://accountingpodcast.promo/scacpaChapters
(00:35) - The war in Israel and its effect on tech startups

(04:36) - Heather Smith sends in an example of an AI language changer she used

(06:49) - Arthur Andersen's Chicago house for sale

(09:17) - Updates from the FTX, Sam Bankman-Fried trial

(15:44) - IRS contractor who leaked tax returns of famous agrees to plea deal

(19:03) - Trump trial updates

(22:49) - George Santos facing 23 new charges

(24:50) - Update on the Canada CPA standoff

(26:42) - Nationwide accounting shortage is threatening small towns

(27:59) - Number of accounting graduates drop largest percentage in single year since 1985

(31:03) - Workday and the problem with schools rolling out ERP's

(38:02) - What pricing lessons accounting firms can learn from ski resorts

(42:56) - CFO Brew's survey on remote work

(47:27) - IRS says Microsoft owes $28.9 billion in back taxes

(51:40) - IRS tax-gap predictions, and scams to watch for in 2022

(54:59) - Jamie Dimon predicts AI will reduce workweeks to 3.5 days

(55:56) - Xero announces new AI features

(56:49) - Grant Thornton rolls out GT Assist

(59:13) - Earn free CPE for listening to this episode and remember to subscribe
 Show NotesPool of accounting graduates shrinks, AICPA report findshttps://www.journalofaccountancy.com/news/2023/oct/pool-of-accounting-graduates-shrinks-aicpa-report-finds.html Report: Iowa can pay the bills but lacks transparency in its accountinghttps://blackchronicle.com/midwest/iowa/report-iowa-can-pay-the-bills-but-lacks-transparency-in-its-accounting/ New accounting system causes bill backlog at U of Washingtonhttps://www.insidehighered.com/news/quick-takes/2023/10/12/new-accounting-system-causes-bill-backlog-u-washington Grant Thornton launches internal generative AI tool          https://www.accountancydaily.co/grant-thornton-launches-internal-generative-ai-tool Art of Accounting: Leaving your job to start your own practicehttps://www.accountingtoday.com/opinion/art-of-accounting-leaving-your-job-to-start-your-own-practice Arthur Andersen's Winnetka home for salehttps://www.chicagobusiness.com/residential-real-estate/arthur-andersens-winnetka-home-sale The SBF Trial is Embarrassing For Crypto Industry               https://www.smallbiztechnology.com/archive/2023/10/the-sbf-trial-is-embarrassing-for-crypto-industry.html/ Returning to the office is costing you $51 per day, study finds       https://finance.yahoo.com/news/returning-office-costing-51-per-172630839.html Microsoft May Owe $28.9 Billion in Back Taxes to the IRShttps://gizmodo.com/microsoft-may-owe-28-9-billion-in-back-taxes-to-the-ir-1850921247 IRS Says Tax Gap For 2021 Expected To Be $688 Billion     https://www.forbes.com/sites/kellyphillipserb/2023/10/12/irs-says-tax-gap-for-2021-expected-to-be-688-billion/ How Israel's tech community is responding to the Israel-Hamas war           https://www.cnbc.com/2023/10/13/israels-tech-community-responds-to-israel-hamas-war.html Iowa's annual financial report late again; agencies mum on whyhttps://www.bleedingheartland.com/2022/02/02/iowas-annual-financial-report-late-again-agencies-mum-on-why/ Iowa auditor slams governor, state for delays threatening universitieshttps://www.thegazette.com/higher-education/iowa-auditor-slam