Tue.Aug 13, 2024

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Why CPAs must master the soft skills

Accounting Today

When a CPA transitions from individual contributor to leader of many people, his or her technical skills alone will not be enough to drive results.

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The SaaS Founder’s Guide to Seed Stage Fundraising Metrics

BurklandAssociates

Demonstrate a clear grasp of these metrics, and you’re well on your way to building investor confidence and securing capital to fuel your SaaS startup’s growth. The post The SaaS Founder’s Guide to Seed Stage Fundraising Metrics appeared first on Burkland.

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78% of Employees Would Take a New Job for Better Benefits

CPA Practice

H ealthcare benefits play an important role when it comes to an employer’s ability to retain and hire employees. More than two-thirds of employees surveyed a new Intuit QuickBooks survey conducted in collaboration with Allstate Health Solutions , said healthcare benefits are second only to salary when considering a job offer, and 78% said they would find a new job if their benefits package was inadequate.

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IRS updates information security plan for tax pros

Accounting Today

A new template for a 'Written Information Security Plan' is available for practitioners to meet their mandate.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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Massachusetts Collects $2.2B From ‘Millionaires Tax’

CPA Practice

By Chris Van Buskirk Boston Herald (TNS) Massachusetts’ voter-approved “millionaires tax” delivered roughly $2.2 billion last fiscal year, a massive haul that shot past original projections set by Gov. Maura Healey’s administration. State budget writers said Friday the 4% surtax on incomes over $1 million managed to generate hundreds of millions more for transportation and education projects than expected during its first full year on the books.

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TIGTA: IRS lacks plan for legacy systems

Accounting Today

The Treasury Inspector General for Tax Administration said the IRS lacks concrete plans for retiring and replacing legacy IT systems.

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More Trending

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Should You Use an Employee Handbook Builder?

Patriot Software

Is creating, updating, and keeping a compliant company handbook stressful? Drafting a federal- and state-compliant handbook is daunting for many business owners and HR professionals. It can take weeks of research, writing, formatting, and editing. But it doesn’t have to. An employee handbook builder can streamline the process.

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The True Cost of Your Grant – The More You Know, The More You Win

Cherry Bekaert

Episode four of the Grants Management Podcast series focuses on indirect costs related to grant projects and the importance of capturing those costs to assist your organization with grant-related personnel and overhead expenses. This podcast episode is hosted by Kimberly Konczack, an Advisory Manager at Cherry Bekaert, and Kat Kizior, Manager, with special guest Nikky Lettini, Managing Director, Advisory Services.

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“The AICPA Can Eat a Bag of Dicks,” or Here’s What CPA Candidates Are Mad About Today

Going Concern

According to the latest information on the AICPA’s “ Find out when you’ll get your CPA Exam score ” page, score release dates for Q1 2025 were due to be published “in the beginning of August.” There’s no doubt that timeline was purposely vague to leave room for the ongoing tweaking of CPA Evolution implementation and other circumstances both foreseen and unforeseen.

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How to Get the Most Out of Your Outsourcing Firm

Cherry Bekaert

In this episode of Cherry Bekaert’s Government Contracting podcast, we discuss ways to optimize the benefits of outsourcing your accounting operations. Host Craig Hunter, a Director in the Government Contracting Industry practice, is joined by Mike Cippel, Managing Director, and Directors Irwin Kaplin and Jonathan Reid. Tune in to learn more about: Deciding if outsourced accounting is your best option Uncovering the benefits of using an outsourcing firm Optimizing the working relationship with a

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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

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NASBA announces research grant recipients, opens 2025 applications

Accounting Today

NASBA's Accounting Education Research Grants aim to advance academic research on the educational issues impacting CPAs and the accounting profession.

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Why Biotech and Health Care Startup Industry Clusters Bloom in St. Louis

Anders CPA

St. Louis is fast emerging as a powerhouse in the biotech and health care startup industries, thanks to a confluence of support organizations, investment opportunities and community initiatives that foster innovation and growth. Major players involved in this transformation include BioSTL , Cortex and the Danforth Plant Science Center , an anchor institution of 39 North.

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Ex-banker faces €14M bill in German tax scandal

Accounting Today

Former investment banker Martin Shields had already paid €3 million for his part in a dividend-tax refund scheme, and will now pay an extra €11 million.

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‘Billion-Dollar Club’ Has Its 16th Member Accounting Firm

CPA Practice

There are now 16 public accounting firms in the U.S. that surpassed the billion-dollar mark in revenue during their most recent fiscal year, according to the newly released top 500 firms ranking for 2024 from INSIDE Public Accounting. New York City-based CohnReznick joined the “billion-dollar club” with revenue of $1.05 billion. There were 15 firms that surpassed $1 billion of revenue last year.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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B. Riley struggles to value assets as SEC steps up scrutiny

Accounting Today

The investment firm late Monday said it couldn't file its quarterly report with regulators on time, due to problems in valuing its loans and investments

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How accountancy firms can benefit from working with a payments provider

Accounting Insight

Rising customer expectations and increased competition are placing pressure on accountancy firms to deliver better customer experiences and greater value to stand out from the crowd. Those accountancy firms that can provide global services at scale are the ones that will be able to retain and build their client portfolio. To alleviate these challenges, accountancy firms could boost their bottom line and optimise customer experiences in collaboration with a payments company.

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This is What PwC is Paying Its Audit Interns in 2025

Going Concern

Don’t know if this is particularly newsworthy but we happened across this PwC posting for audit interns and thought hey, it might be neat to look back on this ten years from now and see it’s barely increased at all just how much it’s increased since the good old mid-’20s. Assuming this website still exists in 2035, that is. So in 2025, PwC is paying summer interns $30.75 – $40.75.

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Baker Newman Noyes to be led by board of directors

Accounting Today

The Top 100 Firm is retiring the role of managing principal and adopting the new leadership structure on Jan. 1, 2025.

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Navigating Corporate Travel Changes Post-Pandemic

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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R&D Tax Credit Update: Best Practices for Filing Requirements and Amended Claims

Cherry Bekaert

With the release of the revised Form 6765, there are significant changes of which businesses claiming the R&D Tax Credit need to be aware of. The new Form 6765 requires more detailed information regarding the R&D projects being performed, which can be complex and time-consuming to file accurately. Additional changes were also recently made for companies filing amended returns.

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Warehouse Wednesday: Acumatica In-depth Part 2

Insightful Accountant

This is a prologue of Murph's second part of his in-depth series on Acumatica. this summary reports on the retail and eCommerce capabilities of Acumatica ERP including numerous eCommerce integrations and integrated POS offerings.

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IRS Direct File Tool Now an Option for New Mexico Residents

CPA Practice

By Kylie Garcia The Santa Fe New Mexican (TNS) Aug. 5—New Mexico is now the fourth state that can use the IRS’s new system for filing federal taxes, which officials believe will make the 2025 tax season easier and save people time and money. After conducting successful pilots in 12 states last year, the U.S. Treasury Department and the IRS announced the Direct File system as a permanent option in May and invited all 50 states to jump on board.

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August's QB Talks is our ProAdvisor Roundtable

Insightful Accountant

This month's edition of QB Talks is a ProAdvisor Roundtable featuring some of our 2024 ProAdvisor Top Award Recipients. Murph and Gary will be hosting this informative discussion with leading ProAdvisors.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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Preparing for Auditors: Best Practices and Key Workpapers for Long-Term Debt, Accounts Payable, and Accrued Liabilities

LSLCPAs

LSL Webinar ‘Back to Basics | Lighten Your Year-End Load: Tackle Accounts Payable, Accrued Liabilities, and Long-Term Debt Reconciliations with Ease’ presented by LSL Manager Jayme Lambert, CPA, and Supervisor Monica Fernandez outlined how local government finance departments can start the new fiscal year with ease by staying ahead of the game by addressing challenges proactively.

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Crowe Adds Cyber Advisory Firm Sylint Group

CPA Practice

Top 15 accounting firm Crowe has added Sylint Group, a Sarasota, FL-based cybersecurity advisory firm that has extensive experience in dealing with cyber incidents and precedent-setting court cases. Crowe said the deal will enhance and expand its offerings across the firm’s forensics and legal consulting and cybersecurity businesses and boost its incident response services.

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Tackling Long-Term Debt, Accounts Payable, and Accrued Liabilities in Governmental Agencies: Understand the What, How, & Why

LSLCPAs

LSL Webinar ‘Back to Basics | Lighten Your Year-End Load: Tackle Accounts Payable, Accrued Liabilities, and Long-Term Debt Reconciliations with Ease’ presented by LSL Manager Jayme Lambert, CPA, and Supervisor Monica Fernandez outlined how local government finance departments can start the new fiscal year with ease by staying ahead of the game by addressing challenges proactively.

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5 Reasons Your Small Business Needs an Accounting System

Ronika Khanna CPA,CA

This is a transcript from my YouTube Video on 5 Reasons Why Your Business Needs Accounting System Hello everyone! Today, I want to dive into a crucial topic for small business owners: accounting systems. Whether you’re just starting out or have been in business for a while, understanding the importance of an accounting system is essential for your success.

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The Financial Leaders 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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LiveFlow Launches Xero Integration

CPA Practice

Financial automation platform LiveFlow has integrated with Xero, enabling businesses and accounting firms to streamline financial planning and analysis (FP&A), consolidate financial data, and easily visualize their financials. “We are thrilled to launch our integration with Xero,” Anita Koimur, COO and co-founder of LiveFlow, said in a statement.

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IRS News: IRS Provides Extension Filers Summertime Help Ahead of October Deadline

Insightful Accountant

The IRS has encouraged taxpayers who requested an extension of time to file their taxes to consider using IRS Free File and other resources on IRS.gov to help them file over the summer rather than waiting for the October deadline.

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XeroCon is On: 2024 Event Being Held in Nashville

CPA Practice

XeroCon 2024 is underway in Music City USA. One of the world’s largest makers of small business accounting and management technology, Xero is hosting it’s annual user and networking conference this year in Nashville, Tennessee, on August 14-15, bringing together thousands of entrepreneurs and business advisors for two and-a-half days of learning and relationship building.

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Contractor Business Systems Series: Part 3 – Contractor Property Management System

Cherry Bekaert

Contributors: Christopher Morris, Senior Associate If you find yourself responding to a solicitation with Federal Acquisition Regulation (FAR) 52.245-1 or Defense Acquisition Regulation Supplement (DFARS) 252.245-7003 Contractor Property Management System Administration, your company will need to have and implement a property management plan if you are awarded the contract.

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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.