Wherever there is an economy, CPAs will be needed. Considering that the virtual economy is one of the fastest growing economies around, there was a lot of interest in CPAs at yesterday's panel discussion with Beyers Sellers of Metanomics. You can watch the replay on SL TV by clicking here.
Beyers Sellers is a RL (real life) accounting professor, Robert Bloomfield, PhD at Cornell University's Johnson School of Business and he teaches a class on virtual world economics and has started a very successful "virtual talk show" in Second Life. The show, Metanomics is broadcast weekly on the SL TV network. SL pathfinders, Arlene Ciroula (Chili Carson) and Byron Patrick (Bean Wollongong) of KAWG&F joined me (Rocky Maddaloni) on the panel focused on what CPAs are doing in Second Life and an interesting discussion on taxes in virtual worlds.
We had to overcome some initial sound issues but overall the event went very well. One of the neat things about Second Life is the "back chat" that allows participants to "chat" during the show nd even have private conversations. The backchat was alive and well during this show and a lot of discussion and anxiety about the possibilities of taxing virtual cash. Another point Beyers made was that the lawyers are all over Second Life and the CPAs much less visible. The chart on the right is from our session with Linden CFO, John Zdanowski during the CFO Rising conference we also held virtually on CPA Island. It shows the growing economy and usage of Second Life and its economy. With over 50,000 businesses and over $100 million trading hands, there isw no question it is real. John will be doing another session on June 18th as part of the Maryland Business & Accounting Expo at the Baltimore Convention Center.
What do you think, why aren't more CPAs here? What do you think about taxing virtual transactions?