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If you did a quick web search for “employee research group,” the results would give you the impression that their only purpose is to foster inclusivity and support diversity, but they offer so much more. It would also seem that they only make sense for larger organizations with groups of minorities or other shared dimensions of diversity. This emphasis on employee research groups (ERGs) as affinity groups for minorities might lead some to believe that small accounting firms may not benefit from
By Gail Cole. Retail sales of guns and ammunition will soon be subject to a new state excise tax in California. Under Assembly Bill 28, which Governor Gavin Newsom signed into law on September 26, 2023, an 11% tax will apply to gross receipts from retail sales of ammunition, firearms, and firearm precursor parts starting July 1, 2024. Revenue generated by the tax will be deposited in a new Gun Violence Prevention and School Safety Fund.
Monthly checks for the more than 71 million people receiving retirement or disability benefits in the U.S. will get a 3.2% increase next year, the smallest gain since 2021, reflecting a significant cooling in the rate of inflation.
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Confronted by multiple reports of a culture that puts profit over people and rewards partners who bring in business regardless of how toxic the partners are, PwC Australia’s new CEO Kevin Burrowes — who is in his position because the last CEO had to resign in shame — is taking a unique approach to promotions. Rather than recognizing those individuals who play the game best, the firm is pivoting toward using merit as the ultimate measure and has six new leaders to prove it.
By now we all know that artificial intelligence is a pretty powerful tool, and it can solve a lot of problems in the workplace. But some accounting firm partners and stakeholders may still not be convinced that they should invest in the technology and allow AI to be used by staff on certain projects. Nicole Sterling “When communicating the benefits of using AI to them, you need to do so in a compelling way and be able to get them to buy in to what you’re actually selling them,” Nicole Sterling,
By now we all know that artificial intelligence is a pretty powerful tool, and it can solve a lot of problems in the workplace. But some accounting firm partners and stakeholders may still not be convinced that they should invest in the technology and allow AI to be used by staff on certain projects. Nicole Sterling “When communicating the benefits of using AI to them, you need to do so in a compelling way and be able to get them to buy in to what you’re actually selling them,” Nicole Sterling,
In a dramatic reversal, just weeks before the 92-year-old was due to stand trial, Bernie Ecclestone agreed to a £652 million tax settlement that covers an 18-year period.
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The past two years have seen nearly 46,000 M&As in the United States. It's clear that nothing can boost a business like the right merger or acquisition. Yet many of these deals tank: as many as 70% to 90%, Harvard Business School has reported. And one thing that can pound a stake through the heart of a promising M&A is unearthing past tax liability during due diligence.
The number of students earning U.S. post-secondary accounting degrees fell sharply in the 2021-22 academic year, according to a biennial American Institute of CPAs (AICPA) report on trends related to accounting graduation rates, the CPA Exam and hiring demand by accounting firms. Some 47,067 students earned a bachelor’s degree in accounting in the 2021-22 school year, down 7.8% from the previous year, according to 2023 Trends: A Report on Accounting Education, the CPA Exam and Public Accounting
For small and mid-sized technology companies, the path to success is often paved with groundbreaking ideas, relentless dedication and, increasingly, strategic financial planning. One such financial strategy that has gained prominence in recent years is the utilization of Qualified Small Business Stock (QSBS). This specialized category of stock offers a unique set of tax benefits and incentives for both entrepreneurs and investors, as it allows for the exclusion of capital gains when the stock is
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.
Technologists Randy Johnston and Brian Tankersley, CPA, discuss the latest trends in generative AI, and their impact on accounting firms. Use the podcast player below to listen. Transcript (Note: There may be typos due to automated transcription errors. Also, due to the intro to the podcast, add apx. 10 seconds to the time stamps below.) SPEAKERS Randy Johnston, Brian F.
Inventory management is crucial for any business, regardless of its size or industry. But, as a business owner, you may wonder how often you should perform a thorough inventory check.
The saga of KPMG and collapsed client Carillion has finally come to a close with an announcement today that the Financial Reporting Council is hitting the firm with a £26.5 million fine, reduced by 30% to £18.5 million due to the firm’s cooperation with the FRC’s investigation. But that’s not all! KPMG Audit Plc was also hit with a fine — £3.5 million reduced by 30% to £2.5 million — as were the two audit partners in charge of the Carillion work for years 2013-2018.
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
7 min read As small and medium-sized businesses grow, business owners can quickly find themselves overwhelmed by the back office. While bookkeeping and accounting are important for tax and compliance purposes, they are also essential to the execution of your business plan, strategic planning, financial health, and growth.
By Melissa Hertell, CPA. Did you know that client-centric firms are 60% more profitable than non-client-centric competitors? If you want to build a firm that generates more profits, understands its clients better and builds loyalty simultaneously, you need to reprogram your firm. How? I’m going to show you the steps I’ve taken to create a client-centric firm that better meets the needs of its ideal clients.
In this episode of Cherry Bekaert’s Government Contracting podcast, Brendan Halloran , a Director in Cherry Bekaert’s Government Contracting Industry practice ,and Jeff Annessa , a Senior Manager in the Firm’s GovCon practice continue our Contractor Business Systems series, discussing system reviews, audit findings, corrective actions, and ACO determinations.
By Marguerita Chang, Kiplinger Consumer News Service (TNS) Higher education costs are still on the rise. Tuition inflation at public four-year colleges averaged 12% from 2010 to 2022, according to the Education Data Initiative. With this surge and the resuming of student loan payments this month, it’s no surprise families are looking closely at their 529 plans.
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.
The dispute centers on a 2012 IRS audit into transfer pricing, a method used by companies to shift profits to tax havens and avoid the U.S. corporate tax rate.
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Since crypto's meltdown in 2022 the digital asset industry has come to rely on "proof of reserves" as the go-to attestation, from an internal accounting and market reassurance perspective.
This is one of the articles in the KROST Industry Sports & Entertainment Issue, titled “Protecting Your Assets and Legacy: Estate & Trust Management in Sports and Entertainment” by Brad Pauley, CPA & Richard Umanoff, CPA, MBA For athletes, actors, and other high-earning professionals in the sports and entertainment industry, managing assets and planning for Read the full article.
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Jump to: Do U.S. expats pay taxes? Paying taxes on money earned abroad Avoiding double taxation Helping clients who live abroad with their taxes U.S. citizens living abroad, often referred to as expatriates or expats, are generally required to file U.S. income tax returns, just like individuals living in the United States. However, the tax obligations for expats can be different and more complex due to their international status.
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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.
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