CPA Practice

MARCH 20, 2024

By Davis Bell. Structuring client engagements is one of the most critical aspects of running your practice. A thorough engagement letter acts as a roadmap – outlining services, enabling your firm to standardize its service pricing, and setting client expectations in addition to establishing the cash flow and revenue cycle for your firm. If your experience to date tells you this is easier in theory than practice, this eight step plan for developing your firm’s pricing strategy and engagement stru

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SMBAccountant

MARCH 20, 2024

In today's digital age, the convenience of instant money transfers has become a staple in our daily lives, thanks to platforms like Venmo, Cash App, and Zelle. While these apps excel in peer-to-peer transactions, they may fall short when it comes to meeting the needs of small businesses seeking reliable payment solutions. Despite their widespread popularity, these platforms pose limitations and risks that can significantly impact business operations and financial security.

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accounting and finance accounting software Legal Tax 130

Accounting Today

MARCH 20, 2024

The Public Company Accounting Oversight Board imposed a total of $150,000 in fines against three partners at KPMG's firm in mainland China for violating PCAOB standards and imposed sanctions on them.

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CPA Practice

MARCH 20, 2024

Over the last several years, many unscrupulous tax credit promoters that marketed misleading information about the Employee Retention Credit (ERC). To counter those bad actors, the Internal Revenue Service is urging businesses to review seven suspicious signs of a bad claim and see if the agency’s special programs can help them avoid future compliance issues.

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Government payroll Tax Legal 119

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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Accounting Today

MARCH 20, 2024

Senior leaders from Accounting Today's Top 100 Firms and Regional Leaders share their biggest concerns for the year ahead.

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accountant Account accounted Technology 141

Anders CPA

MARCH 20, 2024

St. Louis startups and their funding sources are an integral part of the city’s revitalization as they bring jobs and innovation to the region. As the startup scene struggles with post-COVID recovery, rising inflation, high interest rates and other compounding economic factors, the Anders Startup and Entrepreneurial Services team surveyed area founders and funding sources to weigh in on the impacts.

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CPA 113

Insightful Accountant

MARCH 20, 2024

The introduction of Microsoft 365 Copilot, the powerful new AI assistant integrated across Microsoft's productivity apps, promises to transform the way professional firms operate, including accounting and tax practices.

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CPA Practice

MARCH 20, 2024

The Securities and Exchange Commission has accepted the 2024 GAAP Financial Reporting Taxonomy (GRT) and the 2024 SEC Reporting Taxonomy (SRT), collectively known as the “ GAAP Taxonomy ,” the Financial Accounting Standards Board (FASB) said on March 19. In addition, the FASB finalized the 2024 DQC Rules Taxonomy (DQCRT). The 2024 GRT contains updates for accounting standards and other recommended improvements, including those required for Securities and Exchange Commission Release Nos. 33-110

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Insightful Accountant

MARCH 20, 2024

Tax pros: With the IRS hiring thousands of revenue agents, the agency encourages members of the tax professional community to consider applying for one of the many career opportunities

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Tax 98

Cherry Bekaert

MARCH 20, 2024

The National Academy of Public Administration’s Agile Government Center Coordinator, G. Edward DeSeve , joined Cherry Bekaert’s Advisory Leader, Srikant Sastry , in a conversation with Nick Hart, the current president and CEO of the Data Foundation. In this episode, Ed and Srikant discuss the Organisation for Economic Co-operation and Development’s (OECD) Trust in Government Framework.

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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.

Account

Accounting Today

MARCH 20, 2024

A pair of lawmakers proposed a bill to end the abuse of grantor-retained annuity trusts to avoid taxes.

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Tax 124

Insightful Accountant

MARCH 20, 2024

During this year's Sage Transform event, one of the big announcement was the incorporation of Fixed Asset Management into Intacct.

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AccountingDepartment

MARCH 20, 2024

QuickBooks Online makes a chart of accounts accessible, but it's up to you to tailor it to your business's unique structure and financial tracking needs.

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quickbooks accountant Account accounted 90

Withum

MARCH 20, 2024

On February 27, 2024, as part of President Biden’s Investing in America Agenda, the United States Department of Energy announced funding of $366 million for 17 projects across 20 states and 30 tribal nations to improve access to reliable, affordable energy for areas located in or adjacent to disadvantaged communities that are disproportionally overburdened by pollution and historically underserved.

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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.

financial statements

Going Concern

MARCH 20, 2024

About a year and a half after Saint Peter’s University and PwC announced a fresh new partnership to allow accounting grads to get their 150 units for CPA licensure through work experience, Rider University in Lawrence Township, New Jersey has announced their own twist on work-for-credit. The Rider University CPA Apprenticeship Program, announced here on March 11, allows new graduates to earn the required 150 units for CPA licensure in New Jersey through coursework and real-world profession

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Accounting Today

MARCH 20, 2024

Companies lose an estimated 5% of their revenue each year due to fraud, according to a report from the Association of Certified Fraud Examiners.

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accounted Account accountant 78

CPA Practice

MARCH 20, 2024

The National Retail Federation has released a forecast that retail sales will increase in 2024 between 2.5% and 3.5% to between $5.23 trillion and $5.28 trillion. The announcement was made during NRF’s fourth annual State of Retail & the Consumer virtual discussion on the health of the American consumers and the retail industry. “The resiliency of consumers continues to power the American economy, and we are confident there will be moderate but steady growth through the end of the year,” NR

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Accounting Today

MARCH 20, 2024

How can your company achieve financial well-being? The key is to invest in tech solutions.

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Technology accountant Account accounted 96

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

Summit CPA

MARCH 20, 2024

As a hybrid firm , not only do we serve our clients remotely, but our team members are often distributed as well. We understand the accounting, bookkeeping, cash flow management, and tax nuances of running a distributed company. We pride ourselves on our ability to provide the highest quality Virtual CFO services while being hybrid, and we couldn't do any of it without our amazing team.

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bookkeeping Tax accountant Account 59

Withum

MARCH 20, 2024

For the latest news and updates on Montana state and local tax March 20, 2024 Montana Releases Pass-Through Entity Tax Common Issues to Avoid Authored by: Jessie Racioppi and Penny Sweeting , CPA The Montana Department of Revenue released “Common Errors to Avoid when Filing Form PTE – Tax News You Can Use.” The guidance addresses issues that are commonly brought up by tax preparers and common errors that cause processing issues for the Department.

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Reckon

MARCH 20, 2024

If you’re either already running your own business or gearing up – one of the more important statements you can produce is a cash flow statement. Cash flow is the life blood of your business and critical to being able to pay debts and survive, nay, thrive. Poor cashflow is often cited as the most critical factor for businesses to prosper. Let’s unpack this critical aspect to business management.

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accounting software accounting and finance Finance Maine 52

Ryan Lazanis

MARCH 20, 2024

Having a sales process that gets the job done can be tough. In this episode, I explained what mine looks like and why I made it that way. The post What My Firm’s Sales Process Looked Like appeared first on Future Firm.

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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.

ThomsonReuters

MARCH 20, 2024

When it comes to Single Audits of local governments, nonprofits, school districts, and HUD engagements, auditors must navigate through a complex set of rules that are constantly changing. In addition, trying to identify which federal awards need auditing and sifting through extensive federal guidance to locate, compile, and execute the necessary audit procedures, can be significantly time-consuming.

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CPA Practice

MARCH 20, 2024

By Jack Prator, Tampa Bay Times (TNS) Pinellas deputies have arrested a woman who is accused of stealing more than $710,000 from her Palm Harbor employer over several years. The investigation began in December 2022 after the president of Inspecs USA, an eyewear manufacturing business, told authorities that his company’s accountant, Monika Hladik of Clearwater, had been writing company checks to herself and forging his signature.

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Florida accountant Account accounted 52

Withum

MARCH 20, 2024

Download a PDF of this case study Executive Summary A custom uniform sporting goods manufacturer sought to optimize its operations by implementing NetSuite. Withum’s CRM and ERP Consulting Services team collaborated with the client to maximize NetSuite’s capabilities, streamline processes and enhance efficiencies. The Client The New Jersey-based, family-owned company manufactures locally to support youth soccer and sports programs.

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Patriot Software

MARCH 20, 2024

Being a sole proprietor is a rewarding, but challenging, journey. Many sole proprietors view managing finances as one of the most challenging tasks. But thanks to accounting software for sole proprietors, financial management (and analysis) has gotten faster and easier.

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accounting software accountant Account accounted 52

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.

CPA Practice

MARCH 20, 2024

AuditBoard , a cloud-based platform transforming audit, risk, compliance, and ESG management, has formed a strategic alliance with KPMG LLP, the audit, tax, and advisory firm. Through this alliance, organizations will be able to leverage the combined power of AuditBoard’s award-winning connected risk platform and KPMG’s deep expertise to elevate audit, risk, IT security, and ESG programs, and help businesses better manage growing risk challenges.

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Shay CPA

MARCH 20, 2024

2024 is already well underway, but we’re definitely still early enough into the year that it could go any direction. To help our team and clients prepare for what this year will bring, we’ve spent some time thinking about changes coming down the pipe. As we zoomed out and looked ahead, we identified three trends that will likely play a big role in the accounting industry — and financial best practices in general — through the rest of 2024.

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CPA Practice

MARCH 20, 2024

Corvee, a software and solutions company serving small and medium-size businesses as well as tax and accounting firms, has added home office deduction filing guidelines to Instead and Instead Pro. A home office deduction allows for the deduction of expenses related to a portion of a home that is used exclusively and regularly for business operations or activities.

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ThomsonReuters

MARCH 20, 2024

Tax professionals involved in omnichannel retail industries face an unprecedented number of challenges these days. Calculating sales tax across different retail channels is complex due to various regulations, frequent changes in product data, and outdated systems, especially with increasing sales volume and shrinking budgets. These issues and more were discussed by tax and trade experts in a recent webinar hosted by Thomson Reuters “ Empowering retailers to thrive and modernize tax management in

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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.