ThomsonReuters
OCTOBER 31, 2024
Jump to ↓ 1. What is the Corporate Transparency Act (CTA)? 2. Why was the Corporate Transparency Act introduced? 3. Who needs to file a Beneficial Ownership Information (BOI) report? 4. What information must be provided by beneficial owners? 5. What are the penalties for non-compliance? 6. How does the CTA impact accounting professionals? 7. What tools can accounting professionals use to stay compliant with the CTA?
CPA Practice
OCTOBER 31, 2024
By Jim Wesloh Navigating the challenging landscape of cost accounting within the framework of federal contracting requires an understanding of both the Federal Acquisition Regulation (FAR) and Generally Accepted Accounting Principles (GAAP). Below we explore these topics with particular focus on the categorization and management of costs. As businesses engaged in federal contracting strive to maintain compliance and optimize their financial operations, understanding the delineation between direc
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Going Concern
OCTOBER 31, 2024
PwC has announced global revenue numbers for FY24 (unaudited) and like their compadres at Deloitte and EY, they had a relatively ass year compared to the golden days of the Covid-and-everything-after consulting boom. For the 12 months ending 30 June 2024, PwC firms around the world reported record gross revenues of $55.4 billion USD, up from $53.1 billion for FY23.
CPA Practice
OCTOBER 31, 2024
Theresa Braine New York Daily News (TNS) Russia has fined Google $20,000,000,000,000,000,000,000,000,000,000,000, many times more than the world’s entire GDP, for blocking its YouTube accounts. That figure — a 20 followed by 33 zeroes — is $20 decillion, to the uninitiated who didn’t know such a word existed. Even the Kremlin acknowledged on Thursday that it was more a symbolic gesture than anything else.
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.
Accounting Today
OCTOBER 31, 2024
The Georgia accountants were sentenced to periods of supervised release and have to pay millions in restitution.
CPA Practice
OCTOBER 31, 2024
A new Avalara survey of U.S. tax professionals responsible for managing sales tax obligations for independent retailers reveals that 97% of respondents say they have automated or plan to automate their sales tax compliance process. Of those respondents, 46% mostly automate with minimal manual oversight, 34% fully automate, and 15% partially automate the process.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
OCTOBER 31, 2024
Tax technology provider Vertex recently released new innovations, honored partners and fostered big ideas in the world of tax technology at its annual Vertex Exchange conference in New Orleans, Louisiana. Bringing together a record number of attendees—industry leaders, tax professionals, and technology innovators focused on the future of tax compliance while exploring the latest intelligent solutions to overcome the challenges of today’s evolving business obligations.
Accounting Today
OCTOBER 31, 2024
The accounting industry looks different today. Here's how to use that to your advantage.
CPA Practice
OCTOBER 31, 2024
The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) intended to improve the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification Topic 805, Business Combinations. The proposed ASU is based on a recommendation of the Emerging Issues Task Force (EITF). Stakeholders are encouraged to review and provide input on the proposed ASU by December 16, 2024.
Accounting Today
OCTOBER 31, 2024
To the mat; extra help; FACS of the case; and other highlights of recent tax cases.
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.
SkagitCountyTaxServices
OCTOBER 31, 2024
It seems like the government thinks they have an endless supply of dollar bills, the way they like to throw our tax dollars around. But believe it or not, the government has to use an annual budget , and they have agencies in place to make them stick to it (whose purpose is actually to try to save your tax dollars, not spend them). Here’s a recent example of the federal budget in action (which can impact you as you’re considering your annual business budget): Policymakers are soon expected to cu
Accounting Today
OCTOBER 31, 2024
The Public Company Accounting Oversight Board released a supplement Wednesday to its staff guidance on the remediation process for auditing firms that have deficiencies in quality control that need to be fixed.
CPA Practice
OCTOBER 31, 2024
Tax compliance automation software maker Avalara, Inc. , which is also a Workday Certified Integration Partner, has launched its Avalara E-Invoicing and Live Reporting solution (Avalara ELR) for Workday users. The solution is available on the Workday Marketplace. Leveraging “Built on Workday,” a program that empowers Workday partners to create and market pre-built apps to solve customers’ business and industry challenges, the Avalara ELR solution gives customers a robust tax automation tool to h
Accounting Today
OCTOBER 31, 2024
The number of taxpayers filing individual income tax returns is projected to increase by about 10,000,000 over the next eight years.
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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.
Going Concern
OCTOBER 31, 2024
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.
Accounting Today
OCTOBER 31, 2024
Liability insurance experts examine the current landscape of risk.
Insightful Accountant
OCTOBER 31, 2024
App and Software Developers should know that Insightful Accountant offers 'FREE' feature content, including App Aware and First Look features covering their app or software and Advisor Alliance articles covering their partner programs.
Accounting Today
OCTOBER 31, 2024
The Internal Revenue Service has decided to stop automatically levying penalties when a taxpayer files a form reporting foreign gifts and inheritance bequests too late and it will start reviewing the reasonable cause statements that taxpayers provide when they file the forms too late.
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
Insightful Accountant
OCTOBER 31, 2024
As National Cybersecurity Awareness Month concludes and preparation for next tax season begins, the Internal Revenue Service and its Security Summit partners today reminded taxpayers to be wary of online threats like identity theft and fraud.
Accounting Today
OCTOBER 31, 2024
Whenever MicroStrategy implements a new accounting rule, and values its crypto assets at market value at the end of each reporting period, that could trigger a major cash tax obligation.
Generate Accounting
OCTOBER 31, 2024
Inland Revenue (IRD) has recently announced that it is significantly expanding their compliance activities as a result of additional funding in the budget. IR will be making unannounced visits to hundreds of businesses who they believe aren’t meeting all their tax obligations as employers. These visits can lead to a full tax audit. Anonymous tip offs The businesses which will be visited have been identified from the list of nearly 7,000 anonymous tipoffs the department receives each year.
Accounting Today
OCTOBER 31, 2024
The International Public Sector Accounting Standards Board released a draft version of a sustainability reporting standard for use by governments around the world.
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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.
CPA Practice
OCTOBER 31, 2024
Top 15 accounting firm Crowe said on Oct. 31 it has launched a human capital consulting practice , led by seasoned industry specialist Joy Duce. The new service offering provides organizations of all sizes across industries with tailored solutions to manage the full employee life cycle—from policies and processes to due diligence, regulatory obligations, and more, Crowe said in a media release.
Accounting Today
OCTOBER 31, 2024
CPA firms continue to face unique challenges as they navigate some of the current liability issues and trends facing the profession, including beneficial ownership information filing under the Corporate Transparency Act, artificial intelligence, and cyberthreats.
CPA Practice
OCTOBER 31, 2024
Sage , a provider of accounting, financial, HR and payroll technology for small and mid-sized businesses (SMBs), has announced a partnership with Artis Trade Systems “Artis”, to automate document data entry and accelerate financial and document workflows for Secured Finance Lenders, Transportation and Commercial Companies. Artis is a technology company that provides performance tools for Secured Finance Lenders to increase efficiency, reduce costs, generate new sources of revenue and reduce cred
Accounting Today
OCTOBER 31, 2024
Fee increases may be discouraging taxpayers from seeking private letter rulings from the Internal Revenue Service to resolve their questions ahead of filing, according to a new report.
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.
Withum
OCTOBER 31, 2024
Withum is proud to share that Great Place to Work® has named the Firm as one of this year’s Fortune Best Workplaces for Women. Ranking in the top 100 for the first time, Great Place to Work® recognized the Firm for making sure women across all intersections feel valued, seen and supported through our benefits , work events and schedules, interwoven with a clear career path supported by development and mentorship opportunities while creating a positive work environment.
CPA Practice
OCTOBER 31, 2024
Centime, a Boston-based fintech that offers comprehensive cash management solutions to small and midsized businesses (SMBs), is partnering with expense management solutions provider Fyle to add expense management to Centime’s platform. Centime’s comprehensive cash management solutions help companies streamline accounts payable, accounts receivable, and banking.
Accounting Today
OCTOBER 31, 2024
A handful of Illinois politicians are once again eyeing a new tax on the highest earners.
CPA Practice
OCTOBER 31, 2024
Financial Cents, a provider of practice management solutions for accounting firms, has launched a new Community-Driven Template Library. In this collaborative space, accounting professionals can share, discover, and adopt workflow templates designed to increase efficiency and simplify firm operations. This new library offers access to a diverse range of templates curated by industry experts and tailored to the unique needs of accounting and bookkeeping professionals.
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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.
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