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The Most Powerful Women in Accounting Awards , now in their 12th year, were created by CPA Practice Advisor to promote and support the success of women leaders as part of its broader mission of sustaining the profession. We’re excited to open the nominations for the 2025 Most Powerful Women in Accounting.”
When it comes to accounting methods, businesses primarily choose between two approaches: cash basis accounting and accrual basis accounting. Understanding the key differences between cash vs. accrual accounting is essential as this decision impacts financial reporting, cash flow management and long-term planning.
The alarm bells in accounting have been ringing for years: fewer people want to join – or stay – in the profession. The American Institute of Certified Public Accountants (AICPA) said in its “2023 Trends” report that the percentage of accounting graduates fell 7.8% Accounting roles must evolve to allow for this shift.
State and local governments are being squeezed by a shortage of accounting professionals, making it difficult at times to find staff CPAs who can prepare critical financial information or outside firms to conduct audits. But accountants who do government work face unique challenges that require more specialized solutions.
In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Dive into the strategies and innovations transforming accounting practices. Dive into the strategies and innovations transforming accounting practices. 📆 April 10, 2025 at 11:00 am PT, 2:00 pm ET, 6:00 pm GMT
Accounting is often one of the last areas a company invests in because it’s traditionally seen as a cost center rather than a revenue generator. This tends to be the case in departments like sales or marketing, but not in areas like accounting, HR, or operations. By Ting Song. So, what’s the solution?
The accounting landscape continues to evolve at a rapid pace with emerging technologies, shifting workforce dynamics, and new operational demandsall of which impact the way accounting teams operate, and businesses achieve growth goals. In fact, accounting and finance is predicted to be one of the top areas impacted by AI in 2025.
A recent alert from Maryland-based cybersecurity firm Huntress highlights a concerning vulnerability for construction companies using on-premise accounting and project management software with default login credentials.
As you embark on your career journey into the world of accounting, you’ll find that your first years can be full of twists and turns. A healthy savings account can empower you to make more deliberate employment decisions and help you avoid taking a less than ideal role just to generate income. By Mark Thomas.
By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist. 🚀 Upskilling your accounting toolkit to build financial resilience. . Save your seat today!
We track the top products in every category and discuss them in our weekly podcasts in The Accounting Technology Lab. In the coming months, my K2 organization and this column will continue to cover useful AI tools for Client Accounting Services (CAS), tax, and audit. Trullion could be a replacement for DataSnipper.
In the fast-paced world of small and medium-sized businesses (SMBs) and startups, reliable accounting services are crucial. Recently, a new trend has emerged—accounting firms operated with the help of venture capital funding. On the surface, these services may appear attractive due to their low costs and initial benefits.
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.
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.
With automated accounting workflows and unified data, businesses make smarter, faster decisions, while employees enjoy an intuitive solution they love and use. Center modernizes travel and expense management with a card-powered solution that provides real-time visibility into all employee spending, including off-platform bookings.
A new report reveals a dramatic shift in the expectations that businesses and individuals who use accountants have of those professionals, with findings that highlight the need for seamless technology, proactive communication, and personalized service. taxpayers to reveal what they truly want from their accountants.
Some potentially juicy news coming out of North Carolina today : The Alexander County Sheriffs Office has received numerous calls related to the accounting firm of Price, Breazeale & Chastang, PA. State Board of Certified Public Accountant Examiners. The most recent one is complaining about fees. You get an extension!
In a profession known for its measured approach to change, agentic AI is emerging as a transformative force for accountants, redefining the nature of daily work and opening the door to more meaningful (and profitable) relationships with clients. But what is agentic AI, and how is it transforming the accounting profession?
A new report from practice management software provider Ignition says rising business costs are driving fee increases at accounting firms, with 57% planning to raise fees across all services next year. 85% plan to increase fees for bookkeeping and accounting services. The 2024 U.S. 90% plan to increase fees for individual tax returns.
In this session, we’ll go beyond traditional finance leadership to explore how you can cultivate psychological safety, accountability, and a culture of continuous growth. 🧠 The role of psychological safety and accountability in finance teams and how to balance both effectively.
The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the qualified medical expenses of an account beneficiary. Within specified dollar limits, an above-the-line.
To be fair, it wasn’t until the National Pipeline Advisory Group released their mildly anticipated pipeline report over the summer that The Powers That Be officially acknowledged this as one of the leading factors in declining accounting enrollments. ” We had almost 200 write-ins here so I won’t include them all.
Accounting, taxes, and financial planning are tricky tasks to navigate, plain and simple. Thankfully, there are tools, like accounting software, you can use to streamline your responsibilities. But at some point, you might decide to hire an accountant for their professional guidance. Signs […] Read More
Randy Johnston 00:04 Welcome to the accounting Technology Lab. Now there’s about 48 portals that are sold into the accounting profession in the US market. So if you’re doing tax and client accounting services, or CAS and audit and others, you should be able to do that through a single portal, and hub sync gets that done.
Learn how savvy companies are partnering with trusted technical solutions that can adapt to their specific needs, with new policies and flexible accounting. There are solutions available that take everything into consideration.
a provider of tax compliance automation software for businesses of all sizes, has expanded the capabilities of AvaTax with AvaTax for Accounts Payable. AvaTax for Accounts Payable helps companies avoid these risks. Avalara, Inc. ,
For many medium-sized businesses, the decision to maintain an in-house accounting team seems like a straightforward choice. This blog post explores these hidden costs and examines whether outsourcing accounting functions might be a smarter, more efficient alternative.
Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. Therefore, you need to evaluate the tax accounting method for your business to ensure that it’s the most beneficial approach. The post Cash or Accrual Accounting: What’s Best for Tax Purposes?
In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have.
Every company, no matter its size, must address its finance and accounting requirements. This guide looks at the finance function for companies at different stages, and the types of issues and challenges that they face when they fail to build agile, scalable accounting and finance operations from the start.
The global economy has been quite resilient so far in 2024, but the latest survey of accountants points to some easing in growth at the current juncture,” the ACCA/IMA survey report says. “On In addition, CFOs’ confidence also fell, and in particular, there was a sharp deterioration in their assessment of new orders.
Accounts receivable (A/R) management is a key area that requires attention to assess financial strategies for the new fiscal year, and effective A/R practices—such as collecting overdue payments, refining invoicing processes, and using automation—can strengthen clients’ year-end financial position. By Jana Rzezniczek.
Key Takeaways Why Fund Accounting Is Crucial for Nonprofit Organizations: In nonprofit organizations, the goal and rules of accounting differ from the for-profit world. Nonprofit organizations aim to use almost all of their resources to further their mission in the.
Jump to Key areas where AI enhances tax services in large firms Barriers to AI adoption in large firms and overcoming them Embrace AI in your large firm for a competitive edge The tax and accounting industry is on the brink of a significant transformation, driven by the integration of artificial intelligence (AI) and generative AI (GenAI).
Speaker: David Bergstein, Chief Innovation Officer at Bergstein CPA
In the accounting profession, the post-COVID business model is surely on everyone's minds. Join David Bergstein, Chief Innovation Officer at Bergstein CPA, as he shares insight on the accounting landscape, new trends, and practical tips for reevaluating your company's positionality.
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, Randy Johnston 00:10 welcome to today’s accounting Technology Lab. In other accounting Technology Labs, we’ve talked about the privacy of data.
Hosts Brian Tankersley, CPA, and Randy Johnston review TimeCredit AI, an AI assistant for technical accountants. Tankersley, CPA.CITP, CGMA 00:00 Randy, welcome to the accounting Technology Lab sponsored by CPA practice advisor. So for our auditing friends on the call, talk to me a little bit about accounting memos.
Jump to Overview of the recent halting Implications for tax and accounting professionals What’s next? However, a recent court ruling has temporarily halted these reporting requirements, creating uncertainty for tax and accounting professionals who must guide their clients through this evolving regulatory landscape.
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, Randy Johnston 00:10 welcome to the accounting Technology Lab. Line they list sage accounting. So what would do you think our listeners should know about sift?
Speaker: Javier Goldin, Managing Partner at Goldin Group LLC
The accounting profession has been moving from transactional to advisory work. In this webinar you will learn: How important are face to face relationships for an accounting firm? Advisory work is based on relationships and an ongoing dialogue. The pandemic has forced many firms into a remote environment.
The requirements for small businesses and their accountants are due to be phased in over 2026 and 2027. What this means for accountantsAccountants can play a crucial role in supporting businesses as they comply with the new climate reporting requirements. In the end, it’s just maths. There’s something for everyone.
Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant. There were about 1.65 in 2022, up 1.3%
Prepare for tax season with these essential resources for accountants appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Tax season resource hub Our tax season resource hub is your one-stop shop for expert insights, practical tips, and timely updates on the topics that matter most to you.
What do you really need to promote as an accountant? It’s less common today than it was, but still there are plenty of people, including some accountants, who think accountants are selling their time. You can help them realise this is not the best way to compare accountants. This may be what some clients want.
Speaker: Dixie McCurley, Principal, Digital Advisory at Cherry Bekaert LLP
In this post-COVID world, clients are reevaluating their expectations as far as an in-person relationship with their CPAs and accounting professionals. What a supplemental "gig economy" looks like for an accounting firm. Why outsourcing can help yield growth by augmenting your current model.
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