The Accounting Podcast

Blake breaks down how AI can help with cost segregation and explains why AI currently works best on tasks that take humans 2-5 minutes. Michael Burry is betting against AI companies, claiming they're manipulating earnings by stretching server depreciation from 3-4 years to 5-6 years, adding billions to their bottom lines. Also covered: Intuit's $100 million annual OpenAI deal to integrate QuickBooks and TurboTax into ChatGPT, new bank evidence in the Rippling corporate espionage case, and a survey showing 10% of adults are acting on AI tax advice despite error rates up to 50%.


Chapters

• (00:00) - Welcome to The Accounting Podcast
• (00:49) - Blake's Illness and Recovery
• (02:05) - Upcoming Topics
• (04:06) - Cost Segregation Explained
• (06:46) - AI in Cost Segregation
• (11:15) - AI's Current Capabilities and Limitations
• (19:10) - Intuit's OpenAI Deal
• (22:01) - Intuit's Strategy and Industry Implications
• (30:12) - Michael Burry's New Bet Against AI
• (31:21) - Depreciation and AI Companies
• (39:15) - Rippling vs. Deel: Corporate Espionage
• (42:44) - New Jersey's Alternative Pathways Bill
• (44:39) - AI's Role in Tax and Investing Advice
• (47:37) - Defining Audit Quality: PCOB's New Initiative
• (51:56) - FASB's Costly Lease Standard
• (56:13) - Ancient Accounting Systems in Peru
• (58:45) - Conclusion and Viewer Interaction

 

AI Is Now a First Stop for Tax and Investing Questions - CPAs Need a Playbook Fast
https://www.cpapracticeadvisor.com/2025/10/29/ai-is-now-a-first-stop-for-tax-and-investing-questions-cpas-need-a-playbook-fast/171939/

 

19% lost $100 or more on bad AI financial advice

 

Intuit to pay OpenAI over $100 million for model access, ChatGPT integrates with TurboTax

 

Intuit Strikes $100M Deal to Bring TurboTax and QuickBooks Into ChatGPT

 

Intuit signs $100M+ deal with OpenAI to bring its apps to ChatGPT

 

Intuit and OpenAI join forces on new AI-powered experiences

 

'Big Short' investor Michael Burry accuses AI hyperscalers of artificially boosting earnings

 

Michael Burry Hits Back At Critics: Accuses AI Companies Of 'Suspicious Revenue Recognition' And Depreciation Gimmicks: 'Fraud, Not A Flywheel'

 

Fireside chat with PCAOB acting chair George Botic

 

New Banking Records Prove Deel Paid Thief Who Stole Trade Secrets from Rippling

 https://www.rippling.com/blog/new-banking-records-prove-deel-paid-thief-who-stole-trade-secrets-from-rippling

 

Newly unsealed documents tie Deel to payments for alleged Rippling spy, while Deel points to witness incentives

 

FASB Says Certain Costs of Leases Standard Were Significantly Higher Than Expected

 

FASB finds leases standard was costlier than expected

 

NJ's once-stalled CPA licensing bill advances after 'surprise' vote

 

Indigenous accounting and exchange at Monte Sierpe ('Band of Holes') in the Pisco Valley, Peru

 

Peru's ancient 'band of holes' mystery may be solved

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