Tue.Aug 06, 2024

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Overcoming Hurdles with Outsourced Client Accounting Services

AccountingDepartment

As a business owner, you can face various challenges, from any direction. From staffing woes to cash flow issues and the ever-growing threat of cybercrime, you’re constantly juggling risk and reward to keep your business afloat.

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Fifth Circuit Court of Appeals Declares FCC’s Universal Service Fee Unconstitutional | TaxConnex

TaxConnex

Certain excerpts pulled from The CommLaw’s Client Advisory found here: [link] On July 24, 2024, the en banc Fifth Circuit Court of Appeals issued its ruling in the Consumers’ Research v. FCC case declaring the Federal Communications Commission’s (FCC) Universal Service Fee (USF) to be unconstitutional. The court found that the structure and application of the USF, managed by the Universal Service Administrative Company (USAC), violates the nondelegation doctrine and the Appointments Clause of th

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12 Common Startup Budgeting Mistakes to Avoid

BurklandAssociates

Don’t let these common startup budgeting blunders hold your business back from reaching its potential. The post 12 Common Startup Budgeting Mistakes to Avoid appeared first on Burkland.

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Luxury Home Values are Rising Faster than Average Homes for First Time in Years

CPA Practice

Luxury home value growth, which has consistently lagged the market’s middle tier over the past several years, has now outpaced appreciation on typical homes for five consecutive months, a new Zillow analysis shows. The typical luxury home nationwide — defined for this analysis as the most valuable 5% of homes in a given region — is worth about $1,620,000.

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The Financial Leader's Playbook: How To Deliver Insight, Oversight, And Foresight

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.

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Accounting talent shortage worsens

Accounting Today

As the pipeline dries up, 83% of senior leaders report a talent shortage this year, up from 70% in 2022, with 10% this year saying it's worsening.

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FASB releases 2024 Investor Outreach Report

Accounting Today

The document includes the top priorities outlined by investors.

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FASB Issues 2024 Investor Outreach Report

CPA Practice

The Financial Accounting Standards Board has issued its 2024 Investor Outreach Report. The document is now available through the FASB investor web portal at [link]. “Since our first report in 2021, the FASB has engaged in more than 1,750 investor interactions,” noted FASB Chair Richard R. Jones and Technical Director Jackson M. Day in their opening letter.

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Study finds accountants slow to adopt gen AI

Accounting Today

When asked to rate how much they use generative AI tools on a scale from 1-10, accountants rated their overall use at 1.

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Professionals on the Move – Aug. 2024

CPA Practice

Professionals on the Move is a collection of recent staffing and promotion announcements from around the profession. Brown Plus Welcomes Four New Team Members Leading accounting and advisory firm,Brown Plus, recently announced the hiring of four new team members: Michael Corona started with Brown Plus as an intern and is now an Audit Associate. He graduated from York College with a Bachelor’s degree in Accounting.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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Missing out on sales? You’re not alone

Xero

Most major economies have had tepid growth, at best, in recent quarters. But how are things on the ground? If you’re a small business owner and you’re thinking that things feel tougher than what national statistics seem to be saying about the broader economy, you’re not alone. The Xero Small Business Insights (XSBI) data shows a lot of small businesses aren’t growing as fast as the major economic indicators suggest.

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How Accounting Firms Can Build High-Performing Teams

CPA Practice

“Dream team.” It’s a phrase that gets thrown around a lot, evoking images of perfectly aligned, highly productive teams that effortlessly crush their goals. But in reality, building a high-performing team is far from a dream—it’s a challenging, complex process that requires strategic thinking, emotional intelligence, and a willingness to embrace unconventional approaches.

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Harris' tax policy positions begin to take shape

Accounting Today

While the candidate hasn't spoken much about taxes on the trail, her record offers some clues.

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CliftonLarsonAllen Gets to Brag About Coming in First in Something Again

Going Concern

If you are not one of the 55,000 regular readers of Construction Executive , you may not have heard that CliftonLarsonAllen (CLA) has been ranked by them as the number one construction accounting firm for an impressive fifth time. Can we talk about how Construction Executive trademarked the phrase “Top Construction Accounting Firms”? No?

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Cherry Bekaert acquires Kerr Consulting

Accounting Today

Top 25 firm Cherry Bekaert announced its acquisition of accounting tech provider Kerr Consulting, becoming one of the largest Sage providers in the United States.

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Warehouse Wednesday: Murph's Acumatica Intro

Insightful Accountant

Murph introduces you to Acumatica In-depth, which he will begin posting to "Be Insightful" Premium Content next week. This new multi-part series is one of several looking at various ERPs to which QuickBooks users may migrate.

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Cherry Bekaert Acquires Kerr Consulting

CPA Practice

Cherry Bekaert has acquired Kerr Consulting , a premiere business applications and cloud technology provider servicing clients across the United States. The acquisition will position Cherry Bekaert as one of the largest Sage providers in the United States and further bolster the technology component and industry expansion efforts of its national outsourced accounting practice.

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QB Talks to feature 2024 ProAdvisor of the Year - Caleb Jenkins

Insightful Accountant

Caleb Jenkins, the 2024 ProAdvisor of the Year, will be among several of the 2024 ProAdvisor Award recipients at the August 21 edition of QB Talks. You shouldn't miss this opportunity to hear what it takes to be recognized within the Top 100.

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Digital Transformation in Accounting: Why It’s Essential for Modern Firms

Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

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CohnReznick Forms Alliance with Tipalti

CPA Practice

CohnReznick LLP , one of the leading advisory, assurance, and tax firms in the United States, has announced that its Digital Advisory practice has formed an alliance with Tipalti , a global finance automation company helping organizations drive efficiency through the automation and scalability of payables operations. By leveraging the Tipalti platform, CohnReznick will help its clients employ accounts payable and mass payments automation, integrated and branded payee portals, and proactive fraud

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Essential HR Strategies For Accounting Professionals

Insightful Accountant

Michelle Leblanc shares the key strategies and pitfalls Accounting Professionals need to be aware of when running their firm or when consulting with their clients on related matters.

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Provider

CPA Practice

Cherry Bekaert has acquired Kerr Consulting , a premiere business applications and cloud technology provider servicing clients across the United States. The acquisition will position Cherry Bekaert as one of the largest Sage providers in the United States and further bolster the technology component and industry expansion efforts of its national outsourced accounting practice.

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Attract, Convert, and Scale Your Digital Agency

Summit CPA

We all know the accidental owner, but Jason Swenk’s break into the agency space has its own unique flavor: he created a parody website for a Justin-Timberlake look-alike friend, it took off, and the rest is history.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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TaxDome Launches Industry-First AI System to Transform Client Document Management in Time for Tax Season

CPA Practice

TaxDome , an award-winning premier practice management solution for tax professionals, bookkeepers and full-service accounting firms, has launched TaxDome AI, the first AI system for the profession designed to eliminate time-consuming document management. TaxDome AI completely automates repetitive manual workflows and provides practitioners with organized workpapers – all in time for tax season.

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Using Tax Credits to Strengthen Your Real Estate Equity Stack

Cherry Bekaert

In the past few years, the real estate industry has grappled with fluctuating demand, rising labor and material costs, and the impacts of a sluggish economy. While adaptation is key, real estate developers, investors and owners can proactively strengthen their equity stack, and lessen the blow of a fluctuating market, by taking advantage of tax credits and incentives.

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Patriot Software Deepens Foothold in the Competitive Payroll Software Market

Patriot Software

Canton, OH USA TODAY Blueprint has released its “Best Payroll Software in 2024” list and named Patriot Software the “Most Affordable Payroll Solution.” This honor exemplifies Patriot’s commitment to providing tremendous value to millions of American businesses.

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Navigating Change in the CPA Industry: A Guide for Tax Practice Leaders

Insightful Accountant

The landscape of the CPA industry is undergoing a seismic shift, presenting both challenges and opportunities for tax practice owners and managers. At the heart of this transformation lies the critical issue of talent acquisition and retention.

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Unlock The Power Of The CFO Toolkit

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

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How to Start a Private Medical Practice: A Comprehensive Guide and Checklist

Anders CPA

Starting a private medical practice takes time, effort and considerable preparation. Developing a comprehensive business plan and establishing an operating budget are the first steps, but there are dozens of other objectives to achieve before the doors of your new practice can open. Following a new practice checklist can help keep your operational goals stay on track and guide your decision-making process to ensure you’re prepared for your private practice journey.

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15 quick tips to grow and build your practice

Mark Lee

This week I am sharing with you 15 of the key points I referenced during a conversation with an accountant who wanted to know what they should be doing in year 3 of their newish practice. The advice I shared is of wider application so I hope you’ll find it helpful too. Background The accountant had booked a one-off focused mentoring call, having started their practice just before the pandemic.

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Ex-Wirecard CFO charged in ongoing accounting scandal

Accounting Today

An ex-board member was also charged in the long-running scandal, both for breach of trust in approving sketchy loans.