CPA Practice

AUGUST 1, 2024

The National Pipeline Advisory Group (NPAG), an independent advisory group convened in response to an American Institute of CPAs (AICPA) governing Council resolution, has released its final report of recommendations to address the accounting talent shortage. NPAG began work in July 2023. and the National Commission on Diversity and Inclusion.

Account 119

Account accounted accountant cpas 119

GrowthForceBlog

OCTOBER 2, 2024

7 min read October 1st, 2024 The main purpose of running a business is to make money, and making money means generating profits. Key Takeaways The Benefits of Cost Accounting: The primary benefits of cost accounting include maximized profits, reduced costs, optimized pricing, stronger profit margins, revenue generation.

cost accounting 98

cost accounting accounting principles Account accounted 98

CPA Practice

FEBRUARY 23, 2023

What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90% point to hiring and retaining skilled accountants and auditors. Responses were gathered from more than 4,100 accountants and 2,300 auditors. Some are even turning away business due to a shortage of staff.

audit 132

audit auditor Account accounted 132

Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. 57% of accounting firms plan to increase fees across all services in 2025. 57% of accounting firms plan to increase fees across all services in 2025.

cost accounting 115

cost accounting accounting firms Account accounted 115

Going Concern

OCTOBER 8, 2024

Another small accounting firm has reported a data breach involving the protected health information of a whole lotta people. As is required by the law, they also filed a breach notification with the attorney general of Maine as 19 of those 82,207 people are residents of the state. IDX Complete costs $355.32

accounting firms 111

accounting firms Hospitality Account accounted 111

CPA Practice

SEPTEMBER 8, 2023

The tax law provides benefits to employees who choose to participate in flexible spending accounts (FSAs) for qualified expenses. However, if there’s a balance in the account at the end of the year, the remaining funds are generally forfeited. There are two main types of accounts: healthcare FSAs and dependent care FSAs.

Healthcare 119

Healthcare payroll tax Account accounted 119

CPA Practice

NOVEMBER 8, 2024

Brian Tankersley, CPA, and Randy Johnston review TaxGPT , an AI-powered tax assistant for accountants & tax professionals. The tech and accounting professionals that developed the TaxGPT co-pilot system says it can boost productivity by 10x. We’d like to talk about another AI based tax research tool called Tax GPT.

Technology 115

Technology Account accounted accountant 115

ThomsonReuters

FEBRUARY 8, 2024

Jump to: What are the main accounting assumptions? Going concern assumption: A closer look How do common accounting assumptions relate to GAAP? Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements.

Account 96

Account accounted accountant accounting principles 96

CPA Practice

JUNE 28, 2023

By Emily Fish, director of product accounting at LeaseQuery Within the lease accounting standards, there are exceptions to help entities determine which leases are in scope and which are not. First and foremost, the lease accounting standards apply to all entities—there isn’t an exception for an entity or industry as a whole.

accounting standards 124

accounting standards Account accounted accountant 124

BuildYourFirm

APRIL 14, 2020

The main thing I do as far as educating clients is one-on-one-coaching and consulting.” . The post Episode 067: Craft Beer and Local Food with Corey Lord appeared first on Marketing Accounting Firms and CPAs. Corey graduated from the University of Michigan. He is a licensed CPA in Michigan. It’s always been something on my mind.”.

Michigan 246

Michigan cpas Sports Education 246

CPA Practice

JUNE 1, 2023

None of this common knowledge applies to actually getting your money out of your retirement accounts. In the next few paragraphs, I’m going to outline a standard withdrawal order for which of your accounts to withdraw from and when. There are two main reasons for this: growth and taxes. Don’t get into credit card debt.”

Account 116

Account accounted accountant accounting and finance 116

Canopy Accounting

NOVEMBER 1, 2023

emphasizes accountants are often people-oriented and love helping others. Gaynor suggests that accountants may lack confidence in marketing themselves and their services. I mportance of marketing for accounting firms: Gaynor stresses that marketing should be an integral part of an accounting firm's operations from day one.

Technology 111

Technology Account accounted accountant 111

CPA Practice

OCTOBER 20, 2023

Accounting and finance professionals in the U.S. are leaving their jobs at a significant rate, with millennials and Generation Z leading the exodus, according to a new report from the Institute of Management Accountants (IMA) and staffing firm Robert Half. More than one in 10 accountants in the U.S.

accounting and finance 119

accounting and finance Account accounted accountant 119

CPA Practice

MARCH 17, 2023

They’re not missing something, either (minus a few thousand dollars in their bank accounts). But the problem persists elsewhere too, and women know it: 62% of women in advertising and 60% in accounting also said they aren’t being equally valued, according to Glassdoor. The pay gap, even in top finance roles, is well-documented.

Account 121

Account accounted accountant accounting and finance 121

CPA Practice

FEBRUARY 2, 2024

It used to be that all an accountant had to do to earn respect, win over new clients, and have a growing firm was simply be a great accountant. They’re over for a few reasons: Reason #1: Most clients don’t value accounting as much as we think they should. Those days are over. or “I can do your books cheaper/faster/better.”

Account 119

Account accounted accountant tax return 119

Airbase

NOVEMBER 2, 2023

Virtual cards are a game-changer for accounts payable departments. But when a virtual card payment program is backed by powerful software and accounting automation, the advantages extend far beyond the ease of online purchasing. The right virtual card program can save an accounts payable team hours of work every month.

accounts payable 130

accounts payable Account accounted accountant 130

CTP

FEBRUARY 29, 2024

So, as an accountant of a gambling client, you need to have detailed knowledge about gambling winnings and losses, as well as all the rules and regulations related to tax on gambling income. Their main game is usually poker, table games, or sports betting. Keep separate credit cards and specific bank accounts only for gambling.

Gambling 105

Gambling Tax Account accounted 105

Cherry Bekaert

OCTOBER 17, 2023

Cost Accounting Standards (CAS) are 19 standards and rules promulgated by 41 U.S.C. They are designed to achieve uniformity and consistency in cost accounting practices and to improve the accuracy of cost data by ensuring its basis on consistent definitions and principles. View all Government Contracting Podcasts Questions?

accounting standards 105

accounting standards cost accounting Government Account 105

Nancy McClelland, LLC

MAY 14, 2024

Recently, I had the pleasure of joining Adam Lean of The CFO Project on his podcast, “ Escaping the Accountant’s Trap ,” to discuss imposter syndrome — what it really means, how to know if you have it (or are simply learning something new), and practical tips for overcoming those feelings of being a fraud.

bookkeeping 98

bookkeeping Account accounted accountant 98

CPA Practice

JUNE 28, 2024

Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab sponsored by CPA practice advisor, with your hosts, Randy Johnston, and Brian Tankersley. And September 1, all the accountant billed subscriptions are going to go through here. So Brian, I know you’ve done a lot of processing on this and so forth.

quickbooks 119

quickbooks Technology Account accounted 119

CPA Practice

APRIL 30, 2024

This is mainly due to the synergy between security and emerging technologies, which have laid the groundwork for unparalleled possibilities that many accountants may still not be aware of. Sangeeta Chhabra Make no mistake, cloud platforms have become pivotal In the ever-evolving landscape.

Account 107

Account accounted accountant Technology 107

ThomsonReuters

JUNE 16, 2023

Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients. Is your firm ready?

Account 110

Account accounted accountant Technology 110

ThomsonReuters

SEPTEMBER 25, 2023

Jump to: AI for firms: operational improvements and new services AI for in-house departments: protect the business and enable growth Client communication benefits through AI AI for firms: operational improvements and new services One of the main benefits of AI is the potential to improve productivity and efficiency.

Tax 104

Tax Account accounted accountant 104

Accounting Today

MAY 28, 2024

The Governmental Accounting Standards Board released an updated standard to improve some of the main components of the financial reporting model for state and local governments.

Government 124

Government accounting standards Maine accounted 124

CPA Practice

SEPTEMBER 16, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, review Supervizor , a continuous quality assurance system that helps accounting firm’s error-proof their client’s bookkeeping and curb fraud. And because they have so many accounting practices and almost a decade of experience at this point, they’re pretty confident in that.

Technology 120

Technology Account accounted accountant 120

TaxConnex

JUNE 20, 2023

South Dakota joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds. In 2021, the Government Accountability Office estimated nationwide remote sales tax collections to be about $30 billion. Some states never adopted one.) Starting Aug.

South Dakota 246

South Dakota North Dakota Wisconsin Iowa 246

BuildYourFirm

FEBRUARY 18, 2021

Do your homework and find out how many reviews your main competition has, and what their overall review rating is. If you would like Build Your Firm to manage a customized Google Review campaign , contact us at 888-999.9800, ext 1 , or email us at info@buildyourfirm.com to learn more about our websites and marketing services for accountants.

Start-ups 264

Start-ups cpas Construction Maine 264

Going Concern

OCTOBER 19, 2023

“The number-one trend is that the candidate is in complete control…because the unemployment rate is lower in accounting and finance than it’s ever been.” Accounting and Finance Profession study released a few days ago, a collab between IMA and Robert Half (and about two dozen research partners, mostly state societies).

Account 130

Account accounted accountant accounting and finance 130

BurklandAssociates

DECEMBER 7, 2020

There are four main areas Read More. By Michelle Villegas Threadgould Early-stage startups and founders face a particular set of risks as they try to grow and build companies built to last. The post The Top 4 Startup Risks appeared first on Burkland.

Maine 182

Maine accountant accounted Account 182

TaxConnex

DECEMBER 14, 2023

Professional services” comprise legal work, medical care, accounting and other services from licensed specialists. Maine charges sales tax on some services but also has a service provider tax on such items as lodging and prepaid calling services, among others. Indiana taxes services, but only a few.

West Virginia 264

West Virginia Virginia Kentucky Minnesota 264

TaxConnex

JULY 26, 2022

No Accountability. Who is accountable to you for resolving issues?? However, this type of arrangement increases the likelihood of finger pointing when there is an issue and reduces the overall accountability.? Regardless, you should seek a consistent, reliable, and professional point of contact. Too many vendors ?–

Sales 246

Sales Tax tax return Technology 246

CPA Practice

OCTOBER 4, 2024

Offshoring accounting staff can be a cost-effective and strategic way for US-based businesses to access global talent, improve efficiency, and expand their market reach. Here’s an overview of the IT best practices, and IRS guidelines firms should follow when offshoring accounting staff.

Account 105

Account accounted accountant Legal 105

Going Concern

JANUARY 20, 2023

Kentucky’s largest accounting and advisory firm* announced on Tuesday they will be relocating their primary office in Louisville to the fancy PNC Tower at 101 South 5th Street this coming spring. did not fact check this, just going to trust the press release because if you can’t trust accounting firms who can you trust ya know?

Kentucky 105

Kentucky accounting firms Real Estate Account 105

Going Concern

AUGUST 9, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. So here, take this tweet instead. Also how much they pay offshore staff.

accounting firms 104

accounting firms Account accounted accountant 104

CPA Practice

JUNE 7, 2024

Growth is often top of mind for accounting firm leaders, but what does sustainable growth actually look like in practice? In my role at BILL, I have the opportunity to talk to accounting firms from across the country about the internal and external pressures they face. How do factors like market drivers and trends affect these?

accounting firms 91

accounting firms Account accounted accountant 91

CPA Practice

NOVEMBER 20, 2024

By Jackie Meyer, CPA Recent research has found that 99% of accountants experience burnout, which as personally disturbing as it sounds, can ultimately impact your bottom line. In the accounting world, burnout is especially common during tax busy season. In the accounting world, burnout is especially common during tax busy season.

Tax 99

Tax Account accounted accountant 99

Ryan Lazanis

JUNE 19, 2023

Busy season accounting can in many ways seem unavoidable, but it can be manageable with the right approach. Table of Contents Why Does Busy Season Accounting Happen? Prioritize your self-care Why Does Busy Season Accounting Happen? the first quarter of the year) for accounting professionals. Optimize your work habits 8.

Account 98

Account accounted accountant Technology 98