GrowthForceBlog

JULY 30, 2024

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

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Accounting Today

JULY 30, 2024

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.

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tax preparation Tax 134

TaxConnex

JULY 30, 2024

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.

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BurklandAssociates

JULY 30, 2024

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.

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Healthcare 173

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Acterys

JULY 30, 2024

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.

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CPA Practice

JULY 30, 2024

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.

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income tax Tax tax return 116

CPA Practice

JULY 30, 2024

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

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Accounting Today

JULY 30, 2024

New report finds undocumented immigrants pay more than a quarter, about 26%, of their income in taxes, in line with the median taxpayer.

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Tax income tax 126

CPA Practice

JULY 30, 2024

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.

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Going Concern

JULY 30, 2024

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

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audit auditor Technology financial statements 106

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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CPA Practice

JULY 30, 2024

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.

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Withum

JULY 30, 2024

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.

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CPA Practice

JULY 30, 2024

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.

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ThomsonReuters

JULY 30, 2024

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.

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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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CPA Practice

JULY 30, 2024

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.

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Tax 109

Insightful Accountant

JULY 30, 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.

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quickbooks 105

Ryan Lazanis

JULY 30, 2024

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.

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Anders CPA

JULY 30, 2024

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.

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Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

Sales

CPA Practice

JULY 30, 2024

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.

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Finance accounting and finance audit Tax 98

Accounting Today

JULY 30, 2024

Tax pros share their thoughts on what's driving the pipeline problem, and some short-term fixes.

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Mark Lee

JULY 30, 2024

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.

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AccountingDepartment

JULY 30, 2024

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.

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The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

Accounting Today

JULY 30, 2024

Who wins the White House and Congress will have major repercussions on the agency's budget.

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Tax 122

Cherry Bekaert

JULY 30, 2024

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.

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Accounting Today

JULY 30, 2024

The Keystone State will become the 15th to join the IRS's free tax program next filing season.

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Pennsylvania Tax 120

Xero

JULY 30, 2024

In June, we announced changes to Xero’s plans in Aotearoa New Zealand as part of our efforts to simplify our plan offering. The new plan line-up will launch on 12 September 2024 and bundles key features such as Xero Payroll, Xero Projects and Analytics Plus into some plans, making it easier to choose the best option for your business or clients. We’re now able to share an update on our migration approach and the timing for moving customers to new subscription plans.

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Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Cherry Bekaert

JULY 30, 2024

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).

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Accounting Today

JULY 30, 2024

The hiring pace at small businesses dropped slightly in July, payroll processor Paychex reported Tuesday, but wage growth remained consistent.

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Cherry Bekaert

JULY 30, 2024

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

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Going Concern

JULY 30, 2024

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.

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CPA accountant Account accounted 59

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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.