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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.
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.
…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.
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
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
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.
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.
Strategic move further enhances Burkland’s strength in serving fintech startups. The post Burkland Expands Expert Team with FintechForce Acquisition appeared first on Burkland.
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Strategic move further enhances Burkland’s strength in serving fintech startups. The post Burkland Expands Expert Team with FintechForce Acquisition appeared first on Burkland.
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.
Halloween can be a scary time for retailers. They typically need to order inventory months or years in advance, so they can miss out on late-breaking costume crazes. But I think figuring out whether and how to charge sales tax on candy is even more frightening. Americans are expected to spend more than $11.6 billion on Halloween candy, costumes, and decorations in 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.
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.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
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.
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.
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.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
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.
The CFP Board, the FPA, FSI, NAPFA and the IAA called jointly for the restoration of incentives for financial planning as part of the looming TCJA debate.
We want to know what our readers thought about the Intuit Enterprise Suite ProAdvisor Training presented on Wednesday, October 16th. Has your comfort level changed?
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
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.
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.
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.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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.
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.
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.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
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
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).
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.
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.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
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