Wed.Sep 25, 2024

article thumbnail

Is it time for accountants to integrate AI into their practices?

Accounting Today

Amid widespread adoption of traditional and generative forms of artificial intelligence, the looming question on the minds of many accountants is what diving deeper could mean.

article thumbnail

From Data Overload to Better Business Decisions: Optimize Your BP&F with Power BI and Excel

Acterys

Budgeting, planning, and forecasting (BP&F) is so much more than producing reports and spreadsheets — ‌it’s an essential part of the strategic decision-making process. That requires clear communication of complex financial data to decision makers across the organization, as well as seamless collaboration with cross-functional teams. Excel and Power BI are powerful, yet accessible tools to facilitate that communication, but even small mistakes with a dataset can become a major risk when integ

audit 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

FloQast rolls out unified platform for all solutions

Accounting Today

FloQast announced it has rolled its entire solution portfolio into the new Accounting Transformation Platform, and added a few new ones on top of that.

article thumbnail

AICPA & CIMA Launches Registered Apprenticeship for Accounting and Finance Associate Program

CPA Practice

A new program designed to enhance the accounting talent pipeline by offering an “earn and learn” opportunity at the entry level was unveiled on Sept. 25 by the AICPA & CIMA, which collectively form the Association of International Certified Professional Accountants. In the new Registered Apprenticeship for Accounting and Finance Associate program, apprentices will work directly for the participating organization and receive foundational and operational levels of CGMA Finance Leadership Progr

article thumbnail

Less Stress, More Success: Accounting Best Practices & Processes for 2025

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.

article thumbnail

FASB proposes hedge accounting standards update

Accounting Today

The proposed amendments would clarify guidance on hedge accounting and address issues that arose from the global reference rate reform initiative.

article thumbnail

FASB Aims to Clarify Certain Aspects of Hedge Accounting Rules

CPA Practice

The Financial Accounting Standards Board (FASB) released an exposure draft on Sept. 25 on a proposal that would clarify parts of its current guidance on hedge accounting and address several incremental hedge accounting issues arising from the global reference rate reform initiative. In 2017, the FASB issued Accounting Standards Update No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , to “better portray the economic results of an entity

More Trending

article thumbnail

43% of Americans Have at Least One Unused Gift Card, Survey Finds

CPA Practice

By Katie Kelton Bankrate.com (TNS) If you’ve ever found a stray gift card in your car’s glove compartment or the recesses of your wallet, you’re in the company of more than 2 in 5 U.S. adults (43%) with an unused gift card, gift voucher or store credit. Those unused gift cards add up—to $244 per person on average, according to a new survey by Bankrate.

Retail 104
article thumbnail

NCCPAP approves new board

Accounting Today

The National Conference of CPA Practitioners finalized the new slate of officers and directors for the 2024-25 term.

CPA 121
article thumbnail

Accountants Taking Leading Role on AI as Investments Increase

CPA Practice

A new report published Wednesday by the Association of Chartered Certified Accountants (ACCA) says accounting professionals are taking the lead in shaping artificial intelligence and data strategies across businesses. Based on interviews and a survey of more than 900 accounting leaders who are already using AI, the report, The Smart Alliance: Accounting Expertise Meets Machine Intelligence, found 56% of practitioners said they had an advisory role in adopting AI, and 20% said they were the str

article thumbnail

Data security in accounting integrations

Accounting Today

When handling financial data, security might not be the first thought — but it absolutely should be.

article thumbnail

Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

article thumbnail

Hackers Say They Got Their Hands on Deloitte Intranet Communications

Going Concern

This made the fringe cybersecurity news a few days ago: Deloitte got hacked. Again. And in a tremendously noobish way. SecurityWeek reports : The hacker known as IntelBroker announced late last week on the BreachForums cybercrime forum the availability of “internal communications” obtained from Deloitte, specifically an internet-exposed Apache Solr server that was accessible with default credentials.

73
article thumbnail

9 steps to better change leadership

Accounting Today

In an environment of constant change, simply managing change isn't enough.

124
124
article thumbnail

Election Rout

Withum

I heard some election experts being interviewed, and they predicted that it is almost impossible for this election to end up with a President who will have both the Senate and House controlled by their party. Nothing is impossible! Right now, the majorities in the Senate and House are razor-thin. A strong showing by either presidential candidate can easily sweep a few Senators and into the winner’s circle.

Tax 59
article thumbnail

IFRS publishes guide to ISSB standards

Accounting Today

The guide aims to help companies that are voluntarily applying ISSB standards and help them communicate their progress to investors.

article thumbnail

Back to Basics with Reconciliations

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.

article thumbnail

ProAdvisor 'Payroll' Survey Request

Insightful Accountant

Insightful Accountant wants your input on Payroll Apps/Solutions that you may use, refer to your clients, implement for your clients, or you are certified in. Please take 5 minutes to complete a very brief 3 question survey.

payroll 52
article thumbnail

U.S. investigating SAP, Carahsoft for possible price-fixing

Accounting Today

The investigation is covering sales of the German accounting software giant's solutions to U.S. government agencies.

article thumbnail

We Want Top ProAdvisors to Tell Us About Yourself

Insightful Accountant

Our ProAdvisor Profile features are always a big hit, the problem is that too many of you are too shy, too self-conscious, or too busy to take the 3 or 4 minutes to fill out our profile survey. 'Find the time, and get over it' we want to know you.

52
article thumbnail

The 3 Non-Negotiable Team Member Traits

Ryan Lazanis

Employee turnover is often caused by hiring people with the wrong traits. Discover the 3 traits I require in every team member we hire. The post The 3 Non-Negotiable Team Member Traits appeared first on Future Firm.

article thumbnail

Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

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

article thumbnail

Changes Coming to Individual Estimated Tax Payments

Insightful Accountant

The current system of quarterly individual estimated tax payments poses significant challenges for taxpayers, particularly those in the gig economy. Recently, the California Lawyers Association Taxation Section proposed changes to the IRS to help.

Tax 52
article thumbnail

FloQast Debuts New Platform For Its Entire Solutions Portfolio

CPA Practice

Accounting software provider FloQast on Wednesday introduced its new Accounting Transformation Platform, which incorporates the Los Angeles-based company’s entire solutions suite, including FloQast Close, FloQast Compliance Management, and FloQast Ops. FloQast also unveiled new AI workflows to “deliver value throughout every step of the accounting journey,” the company said in a media release, including: Optimize the close Automate the close Connected compliance Integrated record-to-report In

cpas 52
article thumbnail

Did you know? California Independent Contractor Reporting Requirements Differ from the Federal Requirements!

LSLCPAs

The State of California has enhanced reporting requirements for independent contractor reporting as compared to the Federal requirements and many companies are not aware of this. The most significant differences are the reporting deadlines and the need to report based on contracts, not just actual payments made. This article summarizes the essential information you need.

article thumbnail

Multiplier Announces New Comprehensive Global Payroll Product

CPA Practice

Global employment platform Multiplier has launched its advanced Global Payroll solution, now part of the company’s Global Human Platform. The new product simplifies and automates payroll management across various countries and currencies, ensuring seamless, accurate, and timely payments for global teams from one centralized platform. “Today’s global businesses need more than just a payroll solution—they require a platform that can integrate smoothly with their international operations.

payroll 52
article thumbnail

Harness the Potential of Your Enterprise Knowledge

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.

article thumbnail

Scaling Up a Startup’s Finance Team with the Right People at the Right Time

Shay CPA

Overhead is one of the fastest ways to increase your burn rate and shrink your runway. As a result, hiring the help you need usually feels like a major undertaking. You want to be sure you’re getting someone with the expertise you need so you can see ROI on their salary. At the same time, you want to make sure they’re a culture fit who’s bought into your startup’s mission.

Finance 52
article thumbnail

BILL Offers New Payment Capabilities For Accountants and SMBs

CPA Practice

BILL announced on Wednesday new payment offerings for small to midsized businesses and accountants, including a new international payment option, Local Transfer, as well as enhancements to Instant Payment and Invoice Financing. “SMBs are increasingly facing more complexity as they make payments to vendors, partners, and customers both locally and around the world,” Mary Kay Bowman, executive vice president, general manager of payments and financial services at BILL, said in a statement.

article thumbnail

Simplifying Financial Processes with Translucent | Michael Wood

Insightful Accountant

In this exciting episode of the Xerocon Accounting Insiders Podcast, we were joined by Michael Wood, founder of Translucent, who shared how his latest venture is revolutionizing financial processes.

article thumbnail

Why Fraud Prevention is So Important (and how to get started!)

FraudFiles

Fraud is big business. Companies are at the greatest risk of fraud from their employees, since the employees have easy access to information and assets. We don’t know for sure how much fraud happens, but experts estimate that companies lose 5% of their revenues to employee fraud. At a company with annual sales of $100 [.

Sales 52
article thumbnail

Solve Your Firm's Automation Complexities Once and For All

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.

article thumbnail

How accounting firms can overcome the profit plateau

Accounting Today

Many accounting firms run up against the dreaded profit plateau for a simple reason: The owner is too involved.

article thumbnail

Accountants Taking Strategic Lead on AI as Investment Ramps Up

Insightful Accountant

Human oversight and experience are as critical as technology in adopting AI in the finance function.

article thumbnail

PCAOB Doles Out $165,000 in Total Fines to Five Audit Firms

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) handed out penalties to four accounting firms—one in the U.S., two in Canada, and one in Switzerland—on Sept. 24 for violating U.S. auditing rules and standards related to communications that firms are required to make to audit committees. In addition, the audit regulator sanctioned an additional U.S.

audit 69
article thumbnail

Xero announces CFO transition at end of FY2025

Insightful Accountant

Kirsty Godfrey-Billy to step down on 31 March 2025 aer 9 years at Xero and 6+ as CFO

52
article thumbnail

It Takes Two to Tango

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.