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Welcome to the Generally Accepted Accounting Podcast (GAAP, for all you accounting nerds) produced by Casey Peterson, LTD. We’re a firm of CPAs and financial advisors based in Rapid City, South Dakota. We talk tax, finance, accounting, audit, data analytics... and a bunch of other topics that sound REALLY boring, but that we’re gonna make hip and cool. Or we’ll try, anyway.
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Kpop Critical is a kiki where we deconstruct Kpop. Catrina and Morgan, talk notions of "the Diva", Kpop being the grandchild of Motown and Hollywood, the commodity of art-making, white supremacy's relentless grip on pop, and the intersection of "pointless" and "perfect" in pop culture. It might not sound like it sometimes but we like Kpop, we would just prefer if celebrity and US imperialism didn't exist.
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Here’s part two of the first-ever Generally Accepted Accounting Podcast Happy Hour! We’re back with the CEO and Family Nurse Practitioner, Micki Lyons. Micki leads one of the firm’s clients, Crook County Medical Services District, and is married to our firm’s managing shareholder, CPA Mark Lyons. For part two, we turned the Q&A mostly over to Micki…
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It’s the first Generally Accepted Accounting Podcast Happy Hour! For our first-ever installment, we did a first-of-its-kind interview with Micki Lyons, CEO and Family Nurse Practitioner with Crook County Medical Services District — one of the firm’s clients — in Sundance, Wyoming. Micki has multiple nursing degrees, including a Bachelor of Science …
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Our managing shareholder, Mark Lyons, is back as we continue our healthcare series. This time, we start with Medicare allowable costs and activities. And then, we enter into the seedy underbelly of Medicare Advantage Plans. … OK, it’s not all that seedy, but it sure makes things complicated for critical access hospitals. Anyway, you’ll learn about …
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In 1977, a young accountant named Casey Peterson decided to take a bit of a risk and start his own firm. He did so, in part, because he thought there might be a better way to do business and relate to clients and employees. More than 45 years later, a couple of those employees sat down with him to ask what he meant by “a better way,” what he’s lear…
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GAAP Episode 20 – Our Biggest Blog Topics of 2023 Who doesn’t love a good retrospective? People love Spotify’s “Wrapped” so much that we figured, “You know what they’d love more? A look back on our top accounting blogs in 2023!” No need to thank us. Anyway, we’ll take a look at how come your tax refund might have been smaller, what businesses need …
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For a lot of ag producers, the end of the year means it’s time to find ways to lower their tax burden by spending and deferring. But shareholder and CPA Leah Heidler argues that a profitability mindset is a better way to approach this time of year. She outlines her argument, provides some practical applications, and — like any good rancher — talks …
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If accounting makes you picture some grumpy old dude hunched over a spreadsheet, we’ve got good news (unless you like grumpy old dudes hunched over spreadsheets). Despite what TV and the movies have told us, the profession has a lot more nuances. Two of our team members — Cady Erb and Tyler McCarthy — talk about what drew them to the profession and…
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Have you ever wondered about the two yahoos behind the mic? No? Well, that’s a shame because they’re as interesting as they are hilarious … mostly. Also, they realized that after almost 20 podcast episodes, they’ve never actually said who they are or why they’re doing what they’re doing. And so, this podcast was born. Even if you don’t want to lear…
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In case you couldn’t get enough of the robots the first time around (no, we don’t mean our AI experts Mark Erickson and Ryan Nankivel), we’re back with part two of the basics of AI! You’ll get more ethical and business discussions and some bonus anecdotes. And it’s all original content not generated by ChatGPT or anything! Probably! Embrace the fut…
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If terms like “artificial intelligence” or ChatGPT fill you with dread, uncertainty, or confusion, this episode is for you. Two of our resident AI experts sat down with us to define a lot of terms and talked about what different types of AI do. We also discussed business — and ethical — considerations and kicked around some anecdotes to try to make…
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We get a lot of questions about capital gains. Are they good? Bad? Does it just depend? In this episode, our resident tax experts — Shareholder and Tax Vice President Kayce Gerlach and Senior Associate Garth Sandberg — give you just enough details without bogging you down with too much information. So, you’ll learn about what capital gains are, wha…
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GAAP Episode 013 – Nursing Home Star Ratings Whether you manage a nursing home, work in one, or are considering one for a loved one, this episode is for you. Our resident nursing home experts, Charles Frizzell and Jackie Jermolenko, discuss the three main criteria for determining a nursing home’s star rating. There’s also the obligatory joke about …
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Today we're talking with our Firm Administrator, Vanessa Kaiser. Vanessa is a Licensed Clinical Social Worker, which means her background isn't in spreadsheets and numbers *gasp* but instead, she's worked with people and feelings! We talk about Vanessa's unique perspective as a non-traditional hire working for an accounting firm, mental health in t…
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This week, we sit down with managing shareholder Mark Lyons to discuss the ins-and-outs of allocation statistics and how they can impact healthcare cost reports. Listen in to learn more! 0:00 Intro 1:45 What are cost reports? 2:24 What are allocation statistics? 3:23 How often do statistics and requirements change? 4:52 Equipment depreciation 8:00 …
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Our in-house data visualization experts, Mark Erickson, Neil Frizzell, and Devon Hochstetter, answer some helpful questions during this podcast. Questions like “data visual-what now?” What’s Jirav? Is that like a giraffe?” (It’s close!) “Is Power BI some kind of weight-lifting move?” But seriously, you’ll get the lowdown on these and other tools th…
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If you’ve been thinking about starting your own business, our resident business expert and CPA Jennie Steinmetz is here to tell you everything you need to know. You’ll learn about regulations, registration, sales tax, payroll tax, R&D tax credits, B.A.I.L. (not the prison kind), and more. Listen in now! 0:00 Intro 2:18 What laws and regulations sho…
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Our Avantax friend, Kevin Dement, is back and we're talking about portfolios. Specifically, what makes an actively managed or asset allocation portfolio different from other portfolio types. What are the benefits, risks, and how do you find a partner that you can trust? Listen in to learn more! 0:00 Introduction 2:00 Types of Portfolios 4:48 Portfo…
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You've heard the term before, and know it's vaguely financial in nature, but... what exactly is a fiduciary? This week, we talk with Kevin Dement from our wealth management partner, Avantax. We'll discuss fiduciary responsibilities, what it means to be a fiduciary, and how you should select a fiduciary. Listen to learn more! 0:00 Introduction 1:50 …
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GAAP Episode 5 - Audits for Schools and Governments We sit down with Casey Peterson income partner Devin Pfaff to discuss what's different for audits with government entities (such as schools and municipalities). Stick around to learn more about all audits, all the time! Show Notes 1:50 Differences between nonprofit and government audits 2:17 Diffe…
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GAAP Ep 004 – Audit Tips for Nonprofits – Show Notes We sit down with Casey Peterson CPA and income partner Devin Pfaff to discuss audits for nonprofits and attempt to make sense of attestation, internal controls, compliance, cash vs accrual, and all kinds of other jargon! Plus we'll learn about preparing for audits, what to expect from the process…
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