Withum

OCTOBER 16, 2024

Are you aware of the potentially severe implications of failing to report your foreign bank and financial accounts to the U.S. Department of Treasury? Regulations mandate that U.S. persons with foreign bank and financial accounts exceeding $10,000 in aggregate value must file the FinCEN Report 114, or FBAR, annually. U.S. taxpayers must be aware of the requirements for filing these reports to prevent substantial penalties and unintentional non-compliance.

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CPA Practice

OCTOBER 16, 2024

The board of directors of the Association of International Certified Professional Accountants has appointed Mark Koziel, CPA, CGMA, as the organization’s next CEO. Koziel will succeed Barry Melancon, CPA, CGMA, who will retire at the end of 2024. Koziel is currently president and CEO of Allinial Global, an association of independent accounting and advisory firms with $6 billion in collective revenue and 268 member firms worldwide.

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Accounting Today

OCTOBER 16, 2024

While other industries rapidly adopt data-driven solutions like artificial intelligence (AI), many CPA firms still rely on spreadsheets and processes that merely digitize the traditional paper-based approach.

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Going Concern

OCTOBER 16, 2024

h/t NL Times for reporting this story. Under normal circumstances we wouldn’t be terribly interested in news coming out of PwC Netherlands but in this case it’s relevant because the thing they did earned Dutch KPMG the largest PCAOB fine to date when they got caught doing it in 2023. Why’s our audit regulator fining overseas firms when they should be worried about our firms flunking audit inspections?

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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

Accounting Today

OCTOBER 16, 2024

Ernst & Young is leveraging its $1 billion investment in talent and technology to expand the use of artificial intelligence and machine learning over the next four years.

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CPA Practice

OCTOBER 16, 2024

The New Jersey Society of Certified Public Accountants ‘ has announced that 40 individuals are the recipients of its 2024 Ovation Awards in seven categories: Lifetime Leader; Diversity, Equity & Inclusion; Exceptional Educators; Emerging Leaders; Impact; Innovation; and Women to Watch. Robert A. Fodera, CPA , retired partner from Baker Tilly US LP, received the Lifetime Leader Award, which recognizes an outstanding NJCPA member who is credited with extraordinary contributions to the accounti

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CPA Practice

OCTOBER 16, 2024

The Federal Trade Commission has announced a final “click-to-cancel” rule that will require sellers to make it as easy for consumers to cancel their enrollment as it was to sign up. Most of the final rule’s provisions will go into effect 180 days after it is published in the Federal Register. “Too often, businesses make people jump through endless hoops just to cancel a subscription,” said Commission Chair Lina M.

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Accounting Today

OCTOBER 16, 2024

Plus LiveFlow raises $13.5 million to modernize accounting, a host of developments in AI, and other technology stories you may have missed in the last month.

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CPA Practice

OCTOBER 16, 2024

Acumatica has launched its new Professional Services Edition , built to enable small and midsized professional services firms to increase efficiency and accelerate growth. This new solution marks an important expansion of the company’s industry-specific product line, delivering tailored features and capabilities designed to enhance collaboration and boost operational efficiency for firms in architecture, engineering, IT and beyond.

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Accounting Today

OCTOBER 16, 2024

The Internal Revenue Service says it is processing some 400,000 claims for the Employee Retention Credit, representing about $10 billion of eligible claims.

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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

Withum

OCTOBER 16, 2024

Withum is proud to share that New Jersey business publication ROI-NJ has named Pat Walsh to their 2024 Top Champions of the C-Suite list. Pat Walsh, Managing Partner and CEO, was recognized for his commitment to leading an inclusive and diverse workplace and continuing to support the Firm’s rich culture. Having taken over the helm on January 1, 2023, Withum has continued its consistent year-over-year positive growth under Pat’s leadership.

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Accounting Today

OCTOBER 16, 2024

SAP announced improvements to its spend management and business network solutions, not least of which is the embedding of a generative AI assistant.

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Going Concern

OCTOBER 16, 2024

…Mark Koziel, CPA, CGMA. Surprising, our bets were on Kimberly Ellison-Taylor. Announced by the AICPA yesterday , the current president and CEO of Allinial Global — described in the press release as “an association of independent accounting and advisory firms with $6 billion in collective revenue and 268 member firms worldwide” — will be taking over for Barry Melancon in January.

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Insightful Accountant

OCTOBER 16, 2024

Murph is starting a new 'How to" series related to various ERPs. In today's version he's selected a core functionality of Acumatica involving a Warehouse Manager, a Warehouse Worker, and Receiving Clerk.

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Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

Finance

Ryan Lazanis

OCTOBER 16, 2024

Advisory services give clients peace-of-mind, but they're often delivered ad hoc. Here's how to offer advisory services on a recurring basis. The post How to Turn Advisory Work Into a Recurring Service appeared first on Future Firm.

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Insightful Accountant

OCTOBER 16, 2024

In the aftermath of Hurricanes Milton and Helene, the Internal Revenue Service today cautioned taxpayers of scammers who use fake charities to gather sensitive personal and financial data from unsuspecting donors.

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Nancy McClelland, LLC

OCTOBER 16, 2024

One of my favorite books when I was a kid was “ Hail, Hail, Camp Timberwood ,” about a girl who goes to summer camp for her first time. She’s standing around, feeling (and probably looking) uncomfortable as all the return campers are running around, hugging each other, excited to be reunited. All of a sudden, someone runs up to her and gives her a big hug and says how happy she is to see her again.

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CPA Practice

OCTOBER 16, 2024

During its Spend Connect Live conference in Las Vegas on Oct. 15, SAP announced updates to its spend management solutions to help companies collaborate strategically, increase productivity, manage compliance, and gain business insights. SAP is embedding its generative AI copilot Joule across the SAP Ariba source-to-pay solution portfolio, making it easier for customers to manage routine inquiries, such as status updates, summarization, and frequently asked questions.

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Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

accounting and finance

Nancy McClelland, LLC

OCTOBER 16, 2024

One of my favorite books when I was a kid was “ Hail, Hail, Camp Timberwood ,” about a girl who goes to summer camp for her first time. She’s standing around, feeling (and probably looking) uncomfortable as all the return campers are running around, hugging each other, excited to be reunited. All of a sudden, someone runs up to her and gives her a big hug and says how happy she is to see her again.

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CPA Practice

OCTOBER 16, 2024

Dan Lohrmann Government Technology (TNS) That didn’t take long. According to CBS, Aas Hurricane Milton steams toward Florida even as Americans continue to clean up from Hurricane Helene, another threat looms: scammers trying to exploit the disasters, and many people’s impulse to help those in need, by posing as legitimate charities. “The National Center for Disaster Fraud (NCDF), established by the Justice Department after Hurricane Katrina in 2005 to protect people from scams following disaster

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Withum

OCTOBER 16, 2024

Withum proudly announces the rollout of a new outsourcing service offering as part of our Sustainability and ESG Practice. Designed to help companies comply with the European Corporate Sustainability Reporting Directive (CSRD), the mandate requires reporting of detailed sustainability performance as it pertains to the European Sustainability Reporting Standards (ESRS), effective January 2023.

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IgniteSpot

OCTOBER 16, 2024

There is a catastrophic problem that is causing businesses to fail financially in this economy I'm going to tell you what I'm seeing, how to identify it, and how to fix it. I am one of the partners here at Ignite Spot outsourced accounting, and we have the blessing and (sometimes the curse) of seeing what's happening out in the business world. It is both exciting and scary.

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Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.

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Canopy Accounting

OCTOBER 16, 2024

Reserve your spot for Canopy's Demo Sweepstakes! Attend live to win from $5000 of prizes and see how current Canopy users have transformed their firms with all-in-one accounting practice management.

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CPA Practice

OCTOBER 16, 2024

Get inspired by influential speakers and expert-led sessions on topics such as QuickBooks tools and services, Mailchimp, firm growth, client advisory, and more. Conference Date: Oct. 28-30, 2024 Aria Resort and Casino, Las Vegas Register at: [link] Formerly known as QuickBooks Connect, the reimagined event will continue to be THE premier event for accounting leaders to network, learn, and get inspired.

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Withum

OCTOBER 16, 2024

In September 2024, California’s Senate passed Senate Bill 219 (SB 219), a bill consolidating SB 253 and SB 261 to streamline compliance and address ongoing litigation and concerns from Governor Gavin Newsom. SB 219 passed through the California Senate and was signed into law by Governor Newsom on September 27, 2024.  Key Updates SB 219 still requires scope 1 and 2 emissions reporting in 2026 for the prior fiscal year (January 1, 2025).

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CPA Practice

OCTOBER 16, 2024

IRIS Software Group, the London-based accounting and payroll solutions provider, recently launched Practice in a Box, an all-in-one solution designed to simplify accounting firms’ workflows and allow them to grow more profitably. Built on the IRIS Elements cloud-based platform, Practice in a Box combines essential accounting services into one seamless and easy-to-use bundle, the company said in a media release.

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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

accounting and finance

Dent Moses

OCTOBER 16, 2024

A number of federal tax provisions included in the 2017 Tax Cuts and Jobs Act (TCJA) are set to expire after December 31, 2025. Many of these provisions were designed to reduce taxes in order to stimulate economic growth but included sunset clauses that will automatically revert back to the pre-TCJA rules unless Congress takes action. Some of the key expiring provisions are listed below.

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Shay CPA

OCTOBER 16, 2024

At the start of this year (2024), new legislation was enacted requiring many companies operating in the U.S. to complete an additional filing. Before you start dreading this extra to-do, you should know a few things. First, the filing is relatively simple. Secondly, you don’t need to do it annually. Third, it’s fee-free. While that means it’s not as daunting as it could be, this added requirement comes with hefty penalties if you and your company don’t comply.

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Canopy Accounting

OCTOBER 16, 2024

In this episode of the Canopy Practice Success Podcast , Dominic Piscopo, the founder of Big 4 Transparency , discusses his journey in creating a crowdsourced database for accounting salaries to promote fairness in compensation. Dominic explains the need for accountants to advocate for fair compensation while addressing the underpricing in the accounting industry.

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FraudFiles

OCTOBER 16, 2024

Potential clients in the process of divorce often contact me because they are concerned about hidden assets. Often the spouse had a history of financial dishonesty throughout the marriage, or his or her behavior became suspicious around the time divorce was filed. It is not uncommon for there to be a sudden lack of money [.

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Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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