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8 min read July 30th, 2024 For a business to be competitive and financially successful, leadership must scrutinize every expense on the budget, and these expenses should justify themselves either by necessity or by generating a return on investment (ROI). Key Takeaways Challenges of Calculating the ROI of Outsourcing: Measuring the ROI on outsourced accounting services is, unfortunately, a fairly complicated matter because an outsourced back office has the potential to impact a business in a var
The Internal Revenue Service has introduced new measures for streamlining reporting of renewable energy credits, as well as final rules on corporate stock repurchases and cryptocurrency transactions.
Sales tax isn’t simple. Here’s a step-by-step overview of various complications of sales tax compliance – and how to handle them. Nexus Historically this connection between a company and a tax jurisdiction has been primarily physical , meaning that a company had an office, employees, trade show exhibits, inventory, contractors and so on in a state. Then came 2018’s South Dakota vs.
You can expect to receive your first communications from benefits providers before the start of fall, and will most likely see a price increase for 2025, so it’s time to start preparing now. The post Healthcare Open Enrollment Support for Startups appeared first on Burkland.
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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.
Acterys 24.1 Offers Planning and Solution Deployment at Unprecedented Speeds (Chicago, Illinois., July 31, 2024) — Acterys, a leading provider of AI-driven business planning and intelligence solutions, has released Acterys 24.1, which combines the power of AI with the robust functionality of Power BI and Excel to set new standards in speed, efficiency, and security.
The watchdog agency that oversees the Internal Revenue Service has issued a report that examined compliance by employees and contractors for the agency. While the Treasury Inspector General for Tax Administration (TIGTA) report noted that more than 95 percent of the IRS’ workers were in full compliance with their personal taxes, 1,068 were disciplined for their noncompliance issues.
In the modern business landscape, data is power. For business owners, entrepreneurs, and CEOs, QuickBooks stands as a beacon, illuminating the path with insightful dashboards that transform raw financial data into strategic insights. The mere mention of 'dashboard' may conjure images of speedometers and gauges, which is apt considering QuickBooks dashboards are designed to keep your finger on the pulse of your business functions.
Senate Majority Leader Chuck Schumer, D-New York, announced plans to bring up a vote on the Tax Relief for American Families and Workers Act later this week.
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
By Steve Saah. You never want to turn down good work, or the opportunity to grow your client base and your business. But a recent industry survey found that 42% of accounting firms are doing exactly that. The reason? They can’t put anything more on their plate due to staffing shortages. Separate research from Robert Half for the 2024 Demand for Skilled Talent report confirms that most hiring managers for accounting and finance organizations (87%) are facing challenges recruiting talent right now
By Joe DiMaggio, Jr. Is your organizationstruggling not only to attract and retain talent but also to keep existing employees engaged and satisfied? If so, you’re not alone. Many professional services firms are currently facing similar issues. In fact, the accounting industry is currently in a time of crisis when it comes to its labor shortage. There are 340,000 fewer accountants than five years ago, according to an analysis of data from the Bureau of Labor Statistics.
Yesterday, KPMG announced it is integrating generative AI into its in-house audit system called Clara. This, says KPMG US Vice Chair of Audit Scott Flynn, will empower the firm’s 9,000 auditors to deliver quality audits. Finally. “KPMG Clara with AI will not only free up resources to spend more time on the areas of highest risk, but will directly help our teams exercise professional skepticism to protect the capital markets,” he said.” “These artificial intelligence capabilitie
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.
While some CEOs are struggling to hire talent in certain areas like mid-level and IT positions, other CEOs are thriving by employing successful strategies to attract new talent, according to a new survey from top 15 accounting firm Marcum and Hofstra University’s Frank G. Zarb School of Business. The Marcum-Hofstra CEO Survey is a periodic gauge of mid-market CEOs’ outlook and priorities for the next 12 months.
Withum is proud to share that Fatema Raza , Partner, was recognized for her outstanding career path, professional success and dedication to her community. Fatema is a Partner with more than 14 years of public accounting experience, providing assurance services to various clients in the public and private sectors. She advises clients on audit processes, internal control assessments and implementation and maintenance of accounting procedures.
Tipalti , the leading global finance automation company, has released new research revealing the priorities of CFOs in 2024 as they navigate the challenges of business growth. The report, titled Seizing the AI & Automation Opportunity: Where CFOs Stand , examines CFOs’ AI readiness, digital technology adoption, and business performance expectations for the coming year.
Historically, accounting firms have operated under a transactional billing model, providing once-a-year services primarily focused on tax compliance and reporting. However, with the rise of AI-powered tax technology and increasing client expectations , forward-looking accounting firms are evolving beyond tax compliance to offer year-round, value-added services that capitalize on their unique expertise and address their clients’ overall financial well-being.
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?
The IRS on July 26 updated frequently asked questions (FAQs) on the New, Previously Owned, and Qualified Commercial Clean Vehicle Credits, including guidance related to eligibility rules, income limitations, transfer rules, and dealer registration. The FAQs in Fact Sheet 2024-26 supersede earlier FAQs that were posted in Fact Sheet 2024-14 by the IRS on April 16, 2024.
Murph wants to know if you have a story to share regarding migrating from QuickBooks Desktop to QuickBooks Online. We are looking for contributors with either a 'great' experience, a 'bad experience', or both.
Looking for the best accounting podcasts on the market? Good news for you, because I've curated the 19 absolute best ones around. The post The 19 Best Accounting Podcasts to Listen To appeared first on Future Firm.
Anders has moved up from #77 to #73 on INSIDE Public Accounting (IPA)’s list of Top 100 Firms in the country for 2024. The IPA Top 100, 200, 300, 400 and 500 recognize the top U.S.-based accounting firms based on net revenues. This is IPA’s 34 th annual ranking of the largest accounting firms in the nation. After rising through the ranks of the Top 200 firms for many years, Anders broke into the Top 100 list at #100 in 2021 with 2020 firm revenue of $43.5 million.
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.
Nine in 10 finance decision makers describe their finance teams as “lean” and “overextended”—likely due to tight budgets, increased competition, and rapidly changing market dynamics—a problem that is keeping them up at night, according to a new survey from finance and accounting AI-powered marketplace Paro. The purpose of the survey was to uncover current challenges, sentiments, and unmet needs of finance departments within mid-market businesses.
You are experienced, good at what you do and yet, you sometimes feel you need validation as to your value as an accountant – especially if you are a sole practitioner, running your own practice. You have a nagging feeling of inadequacy despite your qualifications and experience. You may even know it’s not rational to feel this way, but you do.
In the latest episode of Cherry Bekaert’s Digital Journeys podcast series, Dan Mitzenmacher , host and Managing Director of Digital Advisory, is joined by Jim Holman , Director and Strategy & Operations Leader, as they discuss enterprise resource planning (ERP) system integration and customization. In the final episode of our three-part series around ERP rescue and recovery, Dan and Jim share their tips for successful ERP implementation and integration.
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!
In the fourth episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran , a Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa , a Senior Manager in the Firm’s Government Contracting practice. Bringing extensive knowledge and experience in the government contracting space, Brendan and Jeff discuss cost impacts, as well as the differences between General Dollar Magnitude (GDM) and Detailed Cost Impacts (DCI).
This is why we have a “ Just Give Me My Score You Bastards! ” tag Thanks to the tipster who reached out to alert us to this situation. Apparently eager CPA exam candidates have once again crashed NASBA’s delicate and temperamental system leaving candidates who sat for core sections AUD, REG, and FAR looking for hints of their scores ahead of the July 31 target release day highly disappointed.
Contributor: Mollie Carroll, Senior Manager, Risk & Accounting Advisory Services Amidst the rising cost of debt and the recent Securities and Exchange Commission’s (SEC) crackdown on special purpose acquisition transactions (SPACs), there has been a notable uptick in the number of companies looking to execute initial public offerings (IPOs). For many companies, the switch from being a privately held company to publicly traded company represents the start of a new era of prosperity and growth
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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