Wed.Feb 12, 2025

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Bookkeeping Basics for SaaS Companies: Managing Revenue Recognition

Shay CPA

On the surface, bookkeeping might not seem that complicated. A client or customer pays you money, so you record it on your books on the date it was paid. Right? Wrong. Because of the Financial Accounting Standards Boards (FASBs) Accounting Standards Codification (ASC) 606 , its mandated that companies use whats called revenue recognition. This means only putting something on your books as revenue as youve actually earned the money.

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Turning cash flow into cash now with Paidnice

Xero

“When my debtor workflow is turned off, people stop paying me almost immediately.” This stark observation from Haley Reyners, founder of My Two Cents Accounting Services , highlights a common challenge facing small businesses. For her accounting and advisory firm, which is based in Northland, New Zealand, having over $60,000 tied up in outstanding invoices wasn’t just a number it was a threat to business sustainability. “I’m the same as any other small business own

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PCAOB Pulls Rules on Audit Firm Metrics

CPA Practice

The Public Company Accounting Oversight Board on Feb. 11 filed a notice with the SEC to withdraw its new standard on audit firm reporting of standardized firm and engagement metrics for approvala victory for those that opposed the rules, including many of the largest accounting firms in the U.S. and the AICPA.

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Free Webinar: Build a Million Dollar Firm With Advisory Services

Going Concern

If you don’t have a lunch date on Valentine’s Day why don’t you spend an hour with The CFO Project for their free masterclass How to Build a Million Dollar Firm Through Advisory Services. You’ve read all the articles talking about firms bringing in bags of cash by developing and expanding CAS practices, now you can learn how to do it for your firm.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.

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FBI Warns About Unpaid Toll Texting Scam

CPA Practice

The Federal Bureau of Investigation has issued a warning about scams involving road toll payments being sent through text messages across the country, including Texas.

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Modernizing Workflow Efficiency with Canopy: Little, Shaneyfelt, Marshall & Co.

Canopy Accounting

Profile Little, Shaneyfelt, Marshall, & Co. (LSM), a trusted accounting firm based in Little Rock, Arkansas, has served clients since its inception in the 1980s. In 2022, Aaron Shaneyfelt and his colleagues took ownership from his father, ushering in a new era for the firm. Building on decades of trusted service, Aaron and his co-owners had a vision to not only preserve LSMs strong reputation but elevate it to meet the challenges of todays fast-paced accounting world.

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Sources of Information for Fraud Investigations

FraudFiles

Without information, a fraud investigation goes nowhere. There are abundant sources of information on people and companies, and the availability of personal information on the internet continues to grow. Doing a thorough fraud investigation often goes beyond just analyzing documents produced by the client. The best forensic accountants and fraud investigators are able to find [.

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Cybersecurity Remains Top Priority for Audit Committees

CPA Practice

For the fourth straight year, cybersecurity is the No. 1 priority for audit committees at public companies, outside of financial reporting and internal controls, according to survey findings released on Feb. 12 by the Deloitte Center for Board Effectiveness and the Center for Audit Quality.

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Audit committees eye cybersecurity, risk management

Accounting Today

Cybersecurity ranks among the top priorities for audit committees, enterprise risk management, and finance and internal audit talent, says a new survey.

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Inflation Rose in January, Report Says

CPA Practice

The monthly consumer price index rose in January by the most since August 2023, led by a range of household expenses like groceries and gas, as well as housing costs.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

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

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Findings from the 2025 Corporate Tax Department Technology Report: More tech, please

ThomsonReuters

Blog home The Thomson Reuters 2025 Corporate Tax Department Technology Report offers the latest research on how corporate tax departments are incorporating new technologies into their operations, as well as the many challenges tax departments face in adopting new technological systems and processes. Historically, corporate tax functions have been slow to embrace new tax technologies, due primarily to budget constraints, inadequate technical infrastructure, a lack of tech-savvy personnel , and c

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Forvis Mazars Launches Transportation Profitability Analysis & Network Management Consulting Service

CPA Practice

Data and insights from the tool, together with the consulting capacity of the team at Forvis Mazars, will provide an Unmatched Client Experience for carriers seeking to improve their bottom line.

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Digits launches automated invoicing solution

Accounting Today

Digits announced the release of Digits AI Invoicing, a new product designed specifically for startups which enables users to manage their invoicing workflows visually, with just a few clicks.

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Accounting’s Pricing Conundrum in the Age of Generative AI 

CPA Practice

No one said running a successful accounting practice was easy. Even in the smoothest and most uneventful of times, there are a variety of factors that need to be taken into consideration and successfully managed to ensure profitable operations.

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Book of Secrets on the Month-End Close

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.

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Meta's accounting move to boost profit by billions

Accounting Today

Meta Platforms Inc. made a small change to how it depreciates its AI infrastructure that's likely to increase the company's profit by billions this year.

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AICPA Thanks Ways and Means Committee for Approving Endorsed Legislation

CPA Practice

The AICPA has long supported the proposals and will continue to work to advance comprehensive proposals that enhance Internal Revenue Service (IRS) operations and improve the taxpayer experience.

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PCAOB sanctions former Deloitte Colombia partner

Accounting Today

The PCAOB sanctioned Gabriel Jaime Lpez Dez, a former Deloitte Colombia partner, for issuing an audit report before completing all necessary audit procedures.

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New Jersey CPA Sentenced in $9M Syndicated Conservation Easement Tax Scheme

CPA Practice

A New Jersey accountant has been sentenced to 24 months in prison for his role in the promotion and sale of abusive syndicated conservation easement tax shelters.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Aprio plans to open law firm with Radix Law in Arizona

Accounting Today

Aprio, a private equity-funded Top 25 Firm based in Atlanta, is joining with Radix Law in Arizona to form Aprio Legal LLC.

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Digits Debuts AI Invoicing Solution for Startups and SMBs

CPA Practice

The AI-powered accounting platform has launched AI Invoicing, a solution that gives founders and small business owners control over both accounts payable and accounts receivable.

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From intern to CEO

Accounting Today

No matter where you are in your career, you control your own destiny.

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Small Businesses Saw Improved Performance, Says Xero Data

CPA Practice

For the first time since late 2022, sales growth was positive and late payments and time to be paid metrics both had shorter waiting times.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

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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PCAOB withdraws rules on firm and engagement metrics, firm reporting

Accounting Today

The Public Company Accounting Oversight Board has withdrawn the two standards it approved on firm and engagement metrics and firm reporting.

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Ignition names Bec Donnelly as new SVP for People & Culture

Insightful Accountant

Seasoned HR leader Bec Donnelly joins Ignition as company scales for global growth

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New tools for QBOA, and other tech stories you may have missed

Accounting Today

New tools in QuickBooks Online Accountant, a million predictions around AI, and other developments in tech from the past month.

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NetSuite News: Little Words Project Expanding with NetSuite

Insightful Accountant

The original word bracelet brand leverages the power of the suite to centralize data, improve decision making, and increase sales.

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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

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Growing your firm? Let your clients lead the way

Accounting Today

Your clients hold the insight into where you should be investing, shoring up, or expanding offerings.

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Federal Employee Buyouts to Impact IRS

Insightful Accountant

Recent developments at the Internal Revenue Service are poised to create significant challenges for tax practitioners during the 2025 filing season. Despite initially accepting buyout offers, some are now being required to work through May 15.

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Accounting Automation in Practice Management: Revolutionize Your Workflow

Canopy Accounting

If the only technology an accountant needed was a calculator, improving efficiency would just come down to who can type the fastest (without messing up). But, like everything else, todays accounting industry relies on advanced software for managing books, handling invoices, and communicating with clients.

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Ignition Announces New SVP of People and Culture

Insightful Accountant

Ignition names former SiteMinder senior HR leader Bec Donnelly as SVP of People & Culture as the company scales for global growth.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.