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Brad and Frank discuss a recent accounting standard update from the Financial Accountant Standards Board regarding segment reporting as well as recent remarks from the PCAOB chair regarding improving audit quality.

Have you been charged an extra 3% at your local restaurant when you pay by credit card? Credit card surcharging and cash discounts are becoming more and more prevalent. But what are the rules around these programs, and how can businesses make sure they’re compliant? Eric Cohen, CEO of Merchant Advocate (an NJCPA member benefit provider), shed some light and provide guidance.

What are recent graduates looking for in an accounting career – and how can firms match up to that to recruit and retain staff? Host Sean Stein Smith discusses this and other issues with Lauren Dunn, chief people officer at Wiss, and Joe Hunt, CPA, assurance manager at CLA.

As companies continue to face a shortage of accountants, many employers are increasing compensation and adding benefits and perks to attract and retain talent. Rich Singer, director of permanent placement services for Robert Half International, discusses the trends and the takeaways from the 2024 Robert Half Salary Guide.

Host Sean Stein Smith sits down with cybersecurity expert Edward Keck about the top tips and tricks for creating an effective cyber offense and defense, how to talk with clients about cybersecurity issues and how to start building out or expanding a cyber practice. ​

Culture is more than just a buzzword for today’s accounting firms. As firms grapple with the shortage of accountants, the importance of culture, work-life balance, diversity and wellness cannot be understated. Rachel Anevski of Matters of Management and Jessica Levin of Seven Degrees share insights gleaned from their many years of working with New Jersey accounting firms.

New Jersey offers numerous property tax relief programs, but the requirements and filing deadlines for each are different, which causes confusion and likely leads to taxpayers leaving money on the table. Ellen Steinberg, Esq., a tax attorney and chair of the New Jersey Senior Council, breaks it all down. Be sure you’re getting the money you’re entitled to!

The decline in the CPA pipeline is a major topic of conversation across the nation, and companies and CPA firms have been dealing with the shortage of accountants. But a sector that is being hit particularly hard is state and local government. More than 150 municipalities have received credit downgrades due to late or incomplete audits— which impacts all of the taxpayers in the municipality. NJCPA member Gerry Seneski, CFO for the City of Camden, discusses the implications of the accountant shortage and what can be done to address it.

In the past year, more than a third of business organizations, including accounting firms, suffered at least one cyber incident attacking their accounting and financial data. Joe Peters from Gallagher Affinity discusses the cyber landscape, various cyber threats and how cyber insurance can help protect you against financial loss due to a cyber crime. ​

Sean Stein Smith, CPA, talks about the latest developments in automation impacting the accounting profession. Topics include ChatGPT, how firms are using automation, what types of automation are available and how CPAs can speak to clients or colleagues about automation.

Communication is the foundation of all relationships, whether personal or professional. And how you listen is just as important as how you speak. Dave Delaney, founder of Futureforth, joins us to discuss how actively managing and monitoring these skills can yield dividends on your career investment. ​

Accountants and accounting firms continue to grapple with whether and how to leverage artificial intelligence (AI), though most agree that their companies will be impact by AI in some way. We sat down with Leon Grassi of Sax LLP to talk about the impact of artificial intelligence and automation tools on the accounting profession: the adoption of ChatGPT and other tools; the expectations, risks and benefits of AI; the impact it will have on jobs in accounting and finance; and more. ​

New Jersey’s lawsuit environment is the fourth most expensive in the nation, according to a report by the U.S. Chamber of Commerce. And New Jersey was on the American Tort Reform Foundation’s Judicial Hellhole watchlist in 2022. Anthony Anastasio of the New Jersey Civil Justice Institute provides insight and guidance for how businesses can reduce their liability exposure. ​

Think private equity (PE) is only for large CPA firms? Not necessarily so. Phil Whitman of Whitman Transition Advisors discusses recent private equity deals and how virtually every CPA firm can take advantage of PE and other nontraditional methods of investment and firm growth.

New Jersey CPAs were decidedly less pessimistic about the New Jersey and national economies in this year’s NJCPA economic survey. Roosevelt Bowman, senior investment strategist with Bernstein Private Wealth Management, helps us make sense of the survey results and shares his insights on inflation, recession and prospects for the future.

Crypto continues to be in the headlines, so Dr. Sean Stein Smith, CPA, is back to fill us in. He covers the possibility of Bitcoin ETF; the status of the SEC’s lawsuit against Ripple; prospects for the FedNow payment system and the impact it could have on crypto; and how CPAs can talk to clients about cryptoassets.

New Jersey has a $54.3 billion budget for its 2024 fiscal year. It’s $1 billion higher than the budget Governor Murphy proposed several months ago, and it passed at the last moment. Find out what’s included, and why the budget process is being criticized.

Host and crypto expert Dr. Sean Stein Smith, CPA, provides updates on cryptoasset accounting and taxation, including FASB accounting changes, NFT taxation, crypto tax assessment and collection, and market and regulatory headlines applicable to accountants. He also provides five key questions CPAs should ask clients who are interested in getting involved with cryptoassets. And he wraps it up with his cryptoasset predictions for the rest of 2023.

The process of applying for a cannabis license in New Jersey is long and complicated. Fortunately, there’s a free new program to help. Penni Wild joins us to talk about the Cannabis Training Academy that is being launched by the New Jersey Business Action Center – and how CPAs can help in the licensing process.

How can and should auditors leverage artificial intelligence? Brad and Frank take a look at the pros and cons. ​