Intuit's Shift to AI Failed on Day One

The Accounting Podcast

In light of recent events, Blake and David examine assassination attempts on US presidents, providing historical context. They move on to Intuit's recent layoffs, critiquing the company's communication strategy and exploring potential AI improvements for such announcements, and then shift to the Synapse bankruptcy, its impact on fintech users, and evolving regulatory scrutiny. Finally, Blake and David dig into AICPA CEO Barry Melancon's defense of the 150-hour CPA requirement, questioning its effectiveness and impact on the accounting profession.

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Chapters

• (01:12) - Assassination Attempt on President Trump
• (02:05) - Historical Context of Presidential Assassinations
• (06:38) - Intuit Layoffs and AI Transition
• (11:20) - Analyzing Intuit's Communication Strategy
• (21:41) - Listener Mail and CPA Exam Tips
• (27:51) - Intuit's Overtime Wage Issue
• (30:48) - CPA Licensure Flexibility
• (32:02) - Ohio's Alternative Pathway to CPA
• (34:04) - Listener Mailbag: Emma's Dilemma
• (40:29) - Listener Mailbag: Walda's Insight
• (45:45) - Synapse Bankruptcy Update
• (53:05) - Barry Melancon's Retirement and Legacy
• (01:05:11) - Join the Earmark Community

Show Notes

Intuit Marketing in the UK pays for commercial/short film of human like talking dogs burying invoices/bills
https://directorslibrary.com/07/2024/latest/campaigns/dogs-intuit-quickbooks/
Bookkeeping Firm Digits Buys Accounting Platform Basis Finance
https://www.pymnts.com/acquisitions/2024/bookkeeping-firm-digits-buys-accounting-platform-basis-finance/

Assassination attempts on US presidents:
https://www.perplexity.ai/search/how-many-assassination-attempt-nb5YvFGbShm0oSRKqi3Ukw

Synapse’s collapse has frozen nearly $160M from fintech users — here’s how it happened
https://techcrunch.com/2024/07/14/synapses-collapse-has-frozen-nearly-160m-from-fintech-users-heres-how-it-happened/

Evolve Bank & Trust Statement on Synapse Bankruptcy
https://www.getevolved.com/about/news/evolve-bank-trust-statement-on-synapse-bankruptcy/

Banking With Third-Party Apps

https://www.fdic.gov/resources/consumers/consumer-news/2024-06.html

Fintech nightmare: ‘I have nearly $38,000 tied up’ after Synapse bankruptcy

https://www.cnbc.com/2024/05/22/synapse-bankruptcy-customer-funds.html

AT Think Ask what you can do for your profession
https://www.accountingtoday.com/opinion/ask-what-you-can-do-for-the-accounting-profession

Accounting Leader Calls for CPA Training to Evolve
https://news.bloombergtax.com/financial-accounting/accounting-leader-calls-for-cpa-training-to-evolve-podcast

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page