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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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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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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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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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.

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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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Mastering Tax Season: 4 Ways to Manage Unprepared or Late Clients

CPA Practice

Make sure to explain how their current pricing tier doesnt include the things they need and how your additional services can help them stay on top of taxes throughout the year.

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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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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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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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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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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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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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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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From intern to CEO

Accounting Today

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

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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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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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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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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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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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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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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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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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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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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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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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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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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Is it worth paying voluntary Class 3 NICs?

Inform Accounting

The payment of National Insurance contributions is linked to entitlement to the state pension. If sufficient National Insurance contributions of the right type are paid for a tax year, that year counts as a qualifying year for state pension and benefit purposes.

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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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AP Automation: The Competitive Advantage Your Business Needs

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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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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Take A Survey - You Might Win A T-Shirt

Insightful Accountant

We need your opinion and insights to help us continue to improve Insightful Accountant.

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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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IRS Income Tax Refund Schedule 2025: When Will Your Refund Arrive?

Insightful Accountant

Your 2025 IRS tax refund may arrive sooner than you think. Heres a schedule for when you can expect your check or direct deposit.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.