Tue.Oct 29, 2024

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Collaborative Planning and Forecasting for Business Success

Acterys

Collaborative planning and forecasting brings business leaders together to evaluate historic business performance against changing circumstances and create a plan for future success. Yet despite producing more data than ever before, many organizations still struggle to unlock its full potential. Instead of driving smarter decision-making, data often remains underutilized due to issues with access and clarity.

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Measure & Extend Your Startup’s Cash Runway

BurklandAssociates

Recent additions to Burkland’s cash runway extension toolkit include a free runway calculator and a customizable treasury policy template. The post Measure & Extend Your Startup’s Cash Runway appeared first on Burkland.

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Defining tech products for tax and regulatory compliance – part 2, technology overlap

TaxConnex

Previously, we gave an overview of how IT and telecom companies have special challenges regarding sales tax and regulatory compliance because of what such companies sell. Sales tax compliance for technology is about definitions of what you sell, and about whether what you sell, for various reasons, is taxable or non-taxable. IT and telecom companies, for example, must determine if they sell Software as a Service (SaaS), an information service or a strictly telecom service.

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FASB proposes update on accounting for software development

Accounting Today

The Financial Accounting Standards Board issued a proposed accounting standards update to update the guidance on accounting for software, specifically when it comes to developing software for internal use.

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

Speaker: David Warren

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

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Navigating Financial Transitions: Insights for Young Accountants

CPA Practice

By Mark Thomas. As you embark on your career journey into the world of accounting, you’ll find that your first years can be full of twists and turns. While some of you may seamlessly land a dream role right out of school, others might navigate through multiple positions before discovering their true professional passion. Amidst this exploration, it becomes crucial for you to refine your approach to personal finances so you can confidently manage the financial realities of adult life.

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Small biz job growth impacted by hurricanes

Accounting Today

Job and wage growth continued at a moderate pace among small businesses in October, likely slowed by the impact of recent hurricanes down south, according to payroll company Paychex.

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Thomson Reuters makes major investment in AI cross-selling software

Accounting Today

Thomson Reuters has made a major investment in Propense, an AI-powered cross-selling solution, which will enable the company to expand its reach among CPA firms.

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Lili Launches Lili Connect for Small Business Financial Management

CPA Practice

Lili , a financial platform designed for small business owners, today announced that it is launching Lili Connect,an embedded finance integration that streamlines small business banking, accounting, and tax processes, allowing partners to offer Lili’s comprehensive financial management tools directly through their platform. With Lili Connect, partner companies can help their small business customers manage their financial needs in one place with Lili’s unique offerings—including a business che

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Private equity changes accounting career paths

Accounting Today

The increasing amount of investment from private equity firms in the accounting profession is transforming the ways accountants pursue their careers, according to a new report.

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Accounting MOVE Projects Announces The 2024 Best Accounting Firms for Women

CPA Practice

Few things have created more discussion and disruption in the profession than the current confluence of private equity’s entry into the accounting world with the ongoing talent shortage. But this story goes beyond just the financial implications. “While the influx of cash is grabbing headlines, we believe the real story is how this new structure will transform firm dynamics and career opportunities for its team members, particularly women and people of color,” said Bonnie Buol Ruszczyk, Accounti

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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.

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TCJA extension or sunset: Gamechangers for professional athletes

Accounting Today

Uncertainty around sunsetting provisions should have professional athletes planning ahead on their taxes.

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Announcing the 2024 winners of the Xero Beautiful Business Fund

Xero

We’re thrilled to announce the global and country winners of the 2024 Xero Beautiful Business Fund, who each share in the NZ$750,000 total prize pool. We were blown away by the entries from passionate small businesses and non-profits across seven countries. Our judging panels were both inspired and challenged by the task of selecting 28 exceptional winners.

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10M more 1040s by 2031

Accounting Today

The number of taxpayers filing Forms 1040 and 1040-SR are projected to increase by about 10,000,000 over the next eight years.

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Propense.ai Secures Investment from Thomson Reuters Ventures to Accelerate AI Adoption and Innovation in Professional Services Sector

CPA Practice

Propense , a SaaS platform utilizing AI technology to improve client experiences and drive cross-selling revenue for professional services firms, announced today a significant investment from Thomson Reuters Ventures to propel its growth. The investment enables Propense to continue advancing its proprietary cross-selling technology by developing innovative, human-centered AI solutions designed to help firms predict client needs and use the full breadth of their offerings to serve clients and ma

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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.

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Five Reasons Why Your Firm Is Getting Terrible Applicants

Going Concern

This post is for the employers. If you’re a job seeker you can ignore this. With many of the big firms having called their people back to the office three or more days a week, more professionals than ever are on the hunt for remote work. Adding to this flood of jobseekers in the accounting space is the worrying trend of layoffs which you’d think would make things great for hiring managers.

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New IRS LB&I Pass-Through Unit Hits the Ground Running

CPA Practice

A new pass-through field operations unit announced in fall 2023 has officially started work in the IRS’s Large Business and International (LB&I) division to more efficiently conduct audits of pass-through entities, the tax agency said on Oct. 22. Pass-through organizations—including large partnerships, S corporations, and trusts—will be in the crosshairs of the new work unit within LB&I.

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In the blogs: Are we ready?

Accounting Today

Foreign gifts and penalties; FBARs and the Constitution; contention and confusion; and other highlights from our favorite tax bloggers.

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Breaking News: ProAdvisor to Return to QuickBooks Badges

Insightful Accountant

Good news for hundreds of thousands of ProAdvisors, the term ProAdvisor is making its way back onto the New Badges and Certificates that have appeared over the last week or so.

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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.

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Intuit Shows Off New Tech and Features at Intuit Connect Conference

CPA Practice

Intuit Inc. the global small business and personal financial platform that makes Intuit TurboTax , Credit Karma , QuickBooks , Mailchimp , and several technologies for tax and accounting professionals, released new innovations at its annual Intuit Connect conference to serve the accounting community and business customers through the company’s AI-driven expert platform.

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Tech Solutions for Small Tax Practices: Expert Insights with Christine Gervais

Insightful Accountant

In this episode of the Accounting Insiders Podcast, Gary DeHart sits down with CPA doctoral candidate Christine Gervais to address the biggest technology challenges facing small tax practices.

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Herbein Acquires Bumpers & Co. in Delaware

CPA Practice

Top 200 accounting firm Herbein + Co. has established its first location in Delaware after acquiring Bumpers & Co., a Wilmington, DE-based full-service accounting and advisory firm, effective Oct. 28. Financial terms of the deal weren’t disclosed. Bumpers’ managing partner, Douglas Kook, director Chadwick Milton, and the firm’s team of 18 professionals will remain at their current Wilmington location, which will become a new Herbein office.

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Navigating Clean Energy Tax Credits: Opportunities & Challenges

Withum

Contact Us For more information on this topic, please contact a member of Withum’s CleanTech Services Team. Let’s Chat The post Navigating Clean Energy Tax Credits: Opportunities & Challenges appeared first on Withum.

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How To Optimize Cash Flow: Your Roadmap To Resilience!

Speaker: Genevieve Hancock, CPA

Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?

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How Automation Helped a Firm Save Clients $500,000 on Lease Management

CPA Practice

GBQ Partners, a full-service accounting firm with over 300 professionals across multiple Ohio offices, has established itself as a trusted advisor to clients in construction and various other industries. With the implementation of the new lease accounting standards under ASC 842, GBQ faced significant challenges in helping their construction clients navigate these complex changes.

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Build Your Agency’s Pipeline with an Outbound Approach

Summit CPA

As 2024 comes to a close, signs point to improvements in the agency world. Inflation is coming down, and interest rates have been cut. But there’s still a feeling that a lot of pipelines are a little too slow for comfort.

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Professionals on the Move – Oct. 2024

CPA Practice

Professionals on the Move is a round-up of recent hiring and staffing announcements from around the profession. KPMG Announces New Leaders KPMG recently announced that Rob Fisher, who has been leading KPMG’s sustainability practice, is moving to a new role as the US Consulting Sector Leader for Financial Services and Insurance. Maura Hodge will be taking over as the new KPMG US Sustainability Leader.

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Unpacking an Industry: FedEx Routes

Withum

Contracted FedEx routes are a popular business that aspiring entrepreneurs often seek to acquire using financing from SBA 7(a) loans. FedEx routes present a business opportunity to leverage an established national brand with a predictable income stream that comes with fixed contracts. Routes can be added over time to expand operations and increase scalability.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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AI Unchained 2024 Celebrates a Groundbreaking Convergence of AI and Accounting

CPA Practice

AI Unchained 2024, powered by Botkeeper, rocked Santa Rosa, CA October 8-10, with three electrifying days of insights, innovation, and game-changing strategies that are rewriting the future of accounting. Exceeding the inaugural Botkeeper event with over 2,000 onsite and virtual attendees from coast to coast (and even a few off-coast completely), this year’s event cemented its place as the ultimate gathering for Client Advisory Services (CAS) accounting pros eager to harness AI and automation fo

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Inundated With Stuff

Withum

Unless you read, respond to, pass on, or dispose of everything that comes your way, you accumulate stuff. Prolonging dealing with it creates a mound of stuff that you eventually become inundated with, at which time you will do one of two things. Put it in a box labeled with the date for future reference or Throw it away or delete it from your Inbox or hard drive.

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PwC’s Global Revenue Tops Out at $55.4 Billion in 2024

CPA Practice

Global revenue for PwC grew 3.7% in local currency terms and 4.3% in U.S. currency terms to $55.4 billion during its 2024 fiscal year that ended June 30, the Big Four accounting firm said on Monday. PwC’s 4.3% revenue growth is slightly larger than the 3.8% and 3.6% year-over-year growth shown by its Big Four counterparts, EY and Deloitte , respectively, this year.

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Crunch Numbers, Not Time: Become a BooXkeeping Franchise Owner

Insightful Accountant

The bookkeeping industry is expanding rapidly, with more small and medium-sized businesses recognizing the value of outsourced financial services. Owning a BooXkeeping franchise offers a unique opportunity to leverage your expertise.

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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.