Nvidia's $500 Billion Deal Has an Enron Problem, and GAAP Lets It Happen
Michael Burry called the 2008 financial crisis before almost anyone believed him. Now he's looking at a $500 billion AI financing deal and seeing "shades of Enron." He's not wrong. And the reason he's not wrong should worry every accountant paying attention.
Earn Free CPE: You Don't Get to Define Operating Profit Anymore
IAS 1 is gone. IFRS 18 rewrites how companies present the income statement, and it takes effect for periods beginning on or after January 1, 2027.
The Diamond Org Chart Is a Succession Problem in Disguise
What happens when a firm stops turning managers into partners? That's the real question hiding behind the "diamond" org chart everyone in accounting firm management is talking about.
The Real Pay Problem In Accounting Is the Middle
Controllers have been the hardest accounting role to fill for four years running. That’s a pipeline problem, not a hiring hiccup. So where’s the pipeline breaking down? New salary data from Accounting Today has the answer, and it's not the story we usually tell about pay in accounting.
I Built My Own AI Agent to Reconcile My Books. Here's Where It Breaks.
I built an AI agent to reconcile my books — it works 80% of the time. Join me and Sasha Orloff live Aug 13 to compare DIY vs. purpose-built AI agents.
The IRS Can’t Tell Who’s Real Anymore
The IRS is drowning in comments. According to a recent GAO report, covered by Michael Cohn in Accounting Today, the IRS is being swamped by public feedback on proposed tax regulations. A growing share of it is AI-generated. And the agency has no reliable way to tell which comments come from real people and which came from a chatbot with an agenda.
Is AI Cutting Accounting Jobs? Or Creating Them?
Nearly half of finance professionals spend more than 15 hours a week checking AI's work. Nineteen percent spend over 30 hours a week doing it. Sage calls this the "verification tax." We keep hearing that, as AI does more of the work, firms will need fewer people. But look at what's actually happening at companies investing heavily in AI, and the story falls apart.
Your $30K Software Has a $300K Blind Spot
Two firms turned down six-figure quotes to have vendors develop custom software and vibe coded their own solutions, instead. It sounds like serious cost savings. But there’s another cost that doesn’t show up on any invoice.
AI Took Away the Entry-Level Work. Is Training About to Get Better?
KPMG is testing a new training tool called TaxSIM, developed with Centaurian AI. Instead of having new hires grind through thousands of hours of real client prep work to build judgment, TaxSIM throws them into rapid-fire simulated tax scenarios.
The IRS Made Hourly Billing a Compliance Risk. So Why Are You Still Doing It?
The IRS recently handed firm owners a perfect excuse to finally kill the billable hour (and a massive regulatory headache if they don’t). If you’re still charging by the hour for tax prep while using AI, you might accidentally be violating Circular 230.