TaxConnex

MAY 10, 2022

Maryland held that a for-profit company’s purchases for non-profit hospitals were subject to the state’s sales and use tax because there was no agency relationship between the company and the hospitals and, even if an agency relationship existed, that alone would not entitle the for-profit company to an exemption.

Sales 242

Sales Mississippi Tax Non-Profits 242

CPA Practice

DECEMBER 6, 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. Randy Johnston 00:10 welcome to the accounting Technology Lab. Or most non technical documentation, okay? Is it perfect yet? Sure, its not. But is it good?

Technology 98

Technology Account accountant accounted 98

Going Concern

OCTOBER 10, 2024

In a post published on October 7th by Montclair State University titled “ Top 5 Reasons to Transition to an Accounting Career ” that can be best described as a thinly veiled advertisement for their Master’s program, the university explains “why making the leap into accounting might be the best move you ever make.”

accounting careers 72

accounting careers managerial accounting Account accountant 72

Going Concern

JANUARY 23, 2025

One respondent suggested that there were already disgruntled clients unhappy with accountancy firms taking on PE investment, and that remaining independent was an opportunity for their firm. We should expect to see similar behavior with non-PE firms versus PE-funded ones. So this is interesting.

accounting firms 64

accounting firms institute of chartered accountants Account accountant 64

TaxConnex

NOVEMBER 18, 2021

Most businesses don’t set out to be non-compliant with sales tax, or anything for that matter. Prior-period liability can be extremely costly as states and jurisdictions crack down on non-compliance. When filing these prior period returns, you will be assessed various penalties and interest as a result of non-compliance.

Sales 246

Sales Tax Non-Profits Start-ups 246

PANALITIX

MAY 31, 2021

Specializing an Accounting Business: . Specialization is one way to distinguish your firm from the competition and generate more profitable work. Accountants are increasingly specializing in response to the commoditization of ‘traditional’ accounting services. Some Accountants will prefer to Stay Close to Accounting.

Account 130

Account accountant accounted Non-Profits 130

Basis 365

NOVEMBER 26, 2024

If you’re looking to generate more profit to fund operating expenses, pay your team more, offer better benefits, and fuel growth—while still keeping more profit for yourself—it’s time to focus on key financial and pricing drivers. Here are actionable strategies to help you improve your gross profit margins and achieve your goals.

Non-Profits 59

Non-Profits Technology Tax tax planning 59

Withum

MARCH 17, 2025

For importers of raw materials or finished goods, Accounting Standards Codification (ASC) 330: Inventory requires that all costs necessary to bring a product to its saleable state should be classified as inventory. Visit Resource Center Transfer Pricing Enters the Equation Multinational companies with purchases or sales through non-U.S.

financial statements 95

financial statements Manufacturing Non-Profits Tax 95

Accounting Insight

OCTOBER 17, 2024

But instead accountants decided to put together these two rather bizarre nouns. To be fair, before computers were invented, the books (a term that accountants use for accounting records) had to be balanced and a trial balance was prepared before completing financial statements. Their accounts show either a profit or a loss.

financial statements 105

financial statements Account accountant accounted 105

Basis 365

SEPTEMBER 14, 2022

It doesn't matter if you run a marketing agency or a management consulting firm when it comes to managing a profitable consultancy business. For a service-based business to be profitable, it is essential to track time and invoicing accurately. These four accounting tips will increase your consulting company's profitability.

Non-Profits 98

Non-Profits bookkeeping Account accountant 98

CTP

JANUARY 22, 2025

Options include health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs)the plan type well cover in todays article. On the employee side, an HRA is a reimbursement plan, which means the account holder must pay the expense upfront and then request a reimbursement.

Tax 89

Tax Expense Reimbursements Non-Profits accountant 89

CPA Practice

MARCH 15, 2023

In the past several decades, few topics have driven as much conversation among accounting professionals and firm leaders as has ongoing private equity investment in firms. It’s definitely not the model of firm management that your mother or father experienced or envisioned, if they were an accounting professional.

accounting firms 132

accounting firms Account accountant accounted 132

CPA Practice

AUGUST 9, 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. Randy Johnston 00:10 Welcome to the accounting Technology Lab. They also have a not for profit addition. But the accounting software modules are complete.

payroll 119

payroll Technology Account accountant 119

Nancy McClelland, LLC

JANUARY 12, 2025

Lots of small business owners pay what are known as “quarterly estimated taxes” to the IRS and their state department of revenue throughout the year — as a replacement or in addition to W-2 withholding, in order to pay tax on their self-employed or pass-through company’s profit. account, the ID.me

Tax 52

Tax tax return Account accountant 52

Snyder

MAY 27, 2022

When starting a business, all the paperwork and accounting may seem daunting. No matter how large or small your business is, managerial accounting will help you gain profit. This type of accounting aims mainly at forecasting and long-term business decisions and is used to ensure your company’s financial health.

managerial accounting 98

managerial accounting financial accounting Account accountant 98

Basis 365

SEPTEMBER 5, 2022

Small and medium-sized companies who want to cut overheads without sacrificing efficiency are increasingly choosing outsourcing accounting. Understanding the differences between in-house and outsourced accounting is essential if you are starting a business or just studying accounting. This is rare in business.

Account 97

Account accountant accounted Non-Profits 97

TaxConnex

SEPTEMBER 7, 2023

They also frequently sell TPP such as merchandise, memberships, books and so forth that for-profit companies generally have to charge and collect sales tax on. Are non-profits exempt from sales tax obligations? Minnesota exempts non-profits from collecting sales tax when the sales are for fundraising.

Sales 147

Sales Tax Non-Profits North Carolina 147

Going Concern

JANUARY 13, 2025

There is enough data to show most WFH people are not as productive unless they have ownership in the business because quite frankly [link] — Eric Pierre, CPA (@yourfavecpa) January 12, 2025 Venture capitalists are excited about accounting firms according to WSJ : Venture capitalists are known for betting on risky, moonshot technology.

accounting firms 52

accounting firms Account accountant accounted 52

Cherry Bekaert

NOVEMBER 1, 2024

The not-for-profit membership association partnered with Cherry Bekaert for a comprehensive diagnostic assessment of its people and technology, which led to outsourced accounting services and the implementation of Sage Intacct accounting system, along with bill pay, expense reporting and budget systems.

Non-Profits 52

Non-Profits Technology audit accounting system 52

Xero

SEPTEMBER 13, 2023

We are pleased to share the key findings from our study of the accounting and bookkeeping sector. This report involved engaging with over 600 accounting and bookkeeping professionals practising across the UK, from sole practitioners to large practices. Take a look at some of the key highlights from the report below.

bookkeeping 105

bookkeeping Non-Profits Account accountant 105

ThomsonReuters

OCTOBER 18, 2024

Highlights: Statutory reporting ensures transparency and compliance by mandating financial and non-financial disclosures to regulatory bodies. Statutory reporting is the mandatory disclosure of financial and non-financial information by companies and organizations to designated government agencies and regulatory bodies.

Non-Profits 52

Non-Profits Legal financial statements tax return 52

ThomsonReuters

JUNE 16, 2023

Many of today’s tax and accounting practices are struggling with strained firm capabilities. Based on the findings, the top challenge for accountants is recruitment/retention, at 36 percent. The accounting profession is no stranger to long work hours and hefty workloads, especially during busy tax season.

accounting firms 98

accounting firms Account accountant accounted 98

Anders CPA

FEBRUARY 28, 2025

To improve law firm profitability, think of your firm as a manufacturer. If law firms want to remain sustainable, they must prioritize profitability by balancing production volume and cost efficiency. Improving Profitability as a Law Firm Legal work is often viewed as a series of customized, one-off solutions.

Non-Profits 59

Non-Profits Legal financial statements Manufacturing 59

ThomsonReuters

NOVEMBER 25, 2024

ESG due diligence in the supply chain also requires a level of transparency and visibility that only advanced technologies can provide; otherwise, it is virtually impossible to hold vendors accountable. Access report ESG Solutions Expert tools from Thomson Reuters to navigate environmental, social, and governance challenges.

Government 99

Government Non-Profits Legal California 99

ThomsonReuters

APRIL 8, 2025

Highlights: Continuous Transaction Controls (CTC) mandates Business automation and CTC compliance Consequences of non-compliance and future readiness In the ever-evolving landscape of global commerce, Continuous Transaction Controls (CTCs) have emerged as a pivotal element in ensuring compliance and enhancing business automation.

Technology 52

Technology E-commerce AP Processes Tax 52

CPA Practice

OCTOBER 18, 2024

The Florida Institute of Certified Public Accountants (FICPA) recently announcedJim Gurowka, CAE, as its new Chief Growth Officer (CGO), effective Sept. Gurowka comes to the FICPA after a 19-year tenure as Senior Vice President of the Institute Management Accountants (IMA). Christine has a BBA in Accounting from St.

CPA 110

CPA Non-Profits cpas Washington 110

ThomsonReuters

NOVEMBER 8, 2022

How has technology impacted accounting? From increasing accuracy to optimizing tax workflow to freeing up time for more value-added activities, technology has transformed the accounting industry—for the better. Accounting firm technology trends. So how does automation work at an accounting firm? Automation.

Technology 98

Technology Account accountant accounted 98

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 accountant accounted accounting principles 96

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. As an accountant, you must analyze your client type, their category, and how much their gambling income will be considered as taxable income.

Gambling 105

Gambling Tax Account accountant 105

ThomsonReuters

AUGUST 2, 2022

With The Great Resignation accelerating staffing challenges for accounting firms of all sizes, it might be time to look for a non-traditional new hire: technology. Find your flow with accounting solutions such as UltraTax CS and a straightforward approach to research with Checkpoint Edge.

Technology 98

Technology accounting firms Account accountant 98

SMBAccountant

JUNE 21, 2023

Income Statement: The income statement, also referred to as the profit and loss (P&L) statement, is a financial report that showcases a company's revenues, cost of goods sold, expenses, and gains and losses over a specific period. It focuses on the company's operational activities during that period and determines its profitability.

Non-Profits 130

Non-Profits accounting equation financial statements accounts payable 130

CPA Practice

DECEMBER 3, 2024

Sage, a maker of accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs), has announced that Sage Copilot is available to early adopters initially in the US and UK on Sage Intacct. Streamlined operations in these industries directly contribute to improved profitability and business growth.

general ledger 59

general ledger Non-Profits accounting and finance Finance 59

Going Concern

AUGUST 27, 2024

Over the last 25 years Sandy Saggar has built an impressive company that dovetails nicely with our own offerings and specialized services to non-profits and the government sector, where we have a strong presence,” he said. “We Well, Sikich Co-Managing Principal Antony Nettleton knows who they are. Don’t let us down.

accounting firms 102

accounting firms Maryland Account accountant 102

Ryan Lazanis

APRIL 20, 2022

Finding the right accounting niches is a tried, tested, and true way to quickly grow your firm. 10 great examples of accounting niches. What is an Accounting Niche? Accounting services are no exception (so long as you can communicate the benefits and value of said services). Disadvantages of Accounting Niches.

Real Estate 98

Real Estate Account accountant accounted 98

Snyder

JUNE 27, 2022

However big or small your business is, you’re familiar with the notions of accounts receivable and accounts payable as integral parts of accounting. Understanding what each account is and how it functions is a must so that you can track your cash flow and know your current financial standing. Let’s dive in! Contents: 1.

accounting basics 98

accounting basics Account accountant accounted 98

Basis 365

FEBRUARY 1, 2023

Structuring your accounting infrastructure can be daunting, no matter how big or successful your company is. Companies often ask about the differences between accountants and controllers. Although the roles are different, they are integral to any accounting team. What is an accountant? What is a Controller?

Account 97

Account accountant accounted bookkeeping 97

Withum

MAY 23, 2022

Upon conversion from a non-profit entity to a for-profit entity, which is a taxable transaction. This is typically used when the entity is not usually profitable and has little if any intangible assets. Litigation, which might include ownership disputes or matrimonial actions. Approaches Considered. Conclusion.

Non-Profits 128

Non-Profits Legal Tax Sales 128