Withum

NOVEMBER 25, 2024

What you know about the future can help you make better decisions for your business today. Developing forecasting and projections is a crucial aspect of strategic planning that can improve business management and help create a healthier, sustainable business. A three-way forecast, also known as a three-statement model, is a financial model that combines vital financial statements – profit and loss, balance sheet, and cash flow – into a consolidated forecast.

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CPA Practice

NOVEMBER 25, 2024

The New Jersey Society of Certified Public Accountants (NJCPA) has awarded 10 of its members $750 each towards their CPA Exam fee costs. The lottery winners, which are Affiliate or Student members of the NJCPA, were selected at random out of more than 60 entries. Established in 2019, the NJCPA’s CPA Exam Fee lottery was designed to partially offset the cost of preparing for and taking the CPA Exam, which can exceed more than $2,500 considering enrollment fees, review courses, study guides and ot

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Basis 365

NOVEMBER 25, 2024

Whether you’re a startup or an established company, outsourced accounting can provide the financial expertise you need to grow your business. Many businesses of all sizes have been turning to outsourced accounting services as an essential part of their competitive strategy. However, making sure you have the right accounting service provider is essential.

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CPA Practice

NOVEMBER 25, 2024

If you’re a business owner or a tax professional who represents one, the IRS wants to hear from you. The agency said in an email on Nov. 22 that it’s conducting virtual focus groups starting in December to gather feedback on the business tax account (BTA) online self-service tool. “We are looking for comments and suggestions from stakeholders who will use the BTA online platform,” the IRS said.

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Advertiser: Paycor

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Insightful Accountant

NOVEMBER 25, 2024

As tax season approaches, tax practices face increasing pressure to optimize operations while maintaining service quality. Forward-thinking managers and owners should focus on key efficiency drivers.

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CPA Practice

NOVEMBER 25, 2024

On December 18-19, 2024, CPA Practice Advisor is hosting its annual Ensuring Success conference, an online CPE event where professionals can earn up to 14 hours of free CPE credit, with 7 one-hour sessions each day. There is no cost to users to register, attend, and earn CPE credit, and they can choose the ones they want, or can stay for all of the sessions.

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Withum

NOVEMBER 25, 2024

The impending expiration of the Tax Cuts and Jobs Act (TCJA) on December 31, 2025, marks a significant turning point for individual taxpayers. Enacted in 2017, the TCJA introduced lower tax rates and broader tax brackets, providing substantial relief to many. However, as the sunset date approaches, these provisions are set to revert to their pre-TCJA levels, leading to higher tax rates and compressed brackets.

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CPA Practice

NOVEMBER 25, 2024

The Indiana Society of CPAs (INCPAS) and NABA, Inc. (formerly the National Association of Black Accountants) announce the launch of ConnectIN, a collaborative initiative designed to strengthen talent pipelines, workforce development, and entrepreneurship in fields such as accounting, finance, business, AI, and emerging technologies. This partnership aims to address critical talent shortages by creating bold, practical solutions to build a more robust and inclusive workforce while fostering innov

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ThomsonReuters

NOVEMBER 25, 2024

← Blog home As a new presidential administration takes shape, the potential for substantial shifts in tax laws and other financial regulations is top of mind for auditors. Audit professionals at all levels must be prepared to assess, evaluate, and respond to these changes, all while keeping clients’ needs at the forefront. Let’s take a look at some key considerations to keep in mind as your work to ensure your audit process is both compliant and resilient in an evolving regulatory landscape.

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CPA Practice

NOVEMBER 25, 2024

Bloomberg Tax & Accounting has made a significant expansion to its Compliance Tracker, a workflow tool available on Bloomberg Tax Research that enables tax professionals to track progress of their filing obligations paired with automation of the cumbersome, time-intensive process of tracking and gathering of deadlines and forms. In response to customer feedback, Compliance Tracker users can now track and collaborate on filing activities for income tax obligations in over 200 countries.

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Speaker: Duke Heninger, Partner and Fractional CFO at Amplēo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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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ThomsonReuters

NOVEMBER 25, 2024

Jump to ↓ ESG and supply chains What is ESG due diligence? Understanding ESG risks in the supply chain ESG due diligence checklist: What to look for when assessing a vendor How to communicate ESG expectations to vendors Staying ahead of ESG requirements The need for large corporations to conduct environmental, social, and governance (ESG) due diligence in their supply chains is rapidly becoming a mandatory piece of the corporate compliance puzzle.

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CPA Practice

NOVEMBER 25, 2024

The Governmental Accounting Standards Board (GASB) issued two exposure drafts on Monday: one on a proposed standard on subsequent events and the other a proposed update to an implementation guide in the form of questions and answers intended to clarify, explain, or elaborate on certain GASB pronouncements. The primary objective of the exposure draft, Subsequent Events , is to re-examine the existing requirements in Statement No. 56, Codification of Accounting and Financial Reporting Guidance C

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Xero

NOVEMBER 25, 2024

We use data to create innovative products and features for our customers. These help small businesses save time and make better decisions, and give advisors the information they need to help their clients thrive. Data is critical to innovation, and the opportunities to put it to work for the benefit of our customers are exciting. With these opportunities, comes an obligation to use data responsibly, which we take very seriously.

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CPA Practice

NOVEMBER 25, 2024

By Kelly Yamanouchi The Atlanta Journal-Constitution (TNS) UPS has agreed to pay $45 million to settle a complaint with the U.S. Securities and Exchange Commission, which alleges the Sandy Springs-based shipper improperly valued one of its businesses. The SEC alleges UPS misrepresented its earnings because of improper valuation of its UPS Freight unit, which it agreed to sell in 2021.

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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

Going Concern

NOVEMBER 25, 2024

Morning, all. And an early Happy Thanksgiving to our fellow Americans! Thanks Kuya Mike for alerting us to this situation first thing in the morning in such an entertaining way. HAHAHAHAHAHAHAHAHAHAH @KPMG @KPMG_US YALL SUCK HAHAHAHAHAHAHAHAHAHAH @going_concern [link] — Kuya Mike UNHINGED (@KuyaMikeDG) November 25, 2024 What happened, according to NYT : Macy’s said on Monday that an employee had misstated up to $154 million in delivery expenses over the past few years, forcing the retailer

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CPA Practice

NOVEMBER 25, 2024

The Financial Accounting Standards Board (FASB) has issued the report on Post-Implementation Review: Revenue from Contracts with Customers (Topic 606). The Post-Implementation Review (PIR) process is an important quality control mechanism built into the FASB’s standard-setting process to evaluate whether a standard is achieving its objective by providing investors and other financial statement users with relevant information in ways that justify the cost of providing it.

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ThomsonReuters

NOVEMBER 25, 2024

← Blog home In today’s fast-paced global market, the shift towards digital solutions is not just a trend but a necessity. E-invoicing has emerged as a critical component in this digital transformation, offering businesses a streamlined approach to manage e-invoicing processes with increased accuracy and compliance. Recognizing the growing importance of e-invoicing, Thomson Reuters has expanded its partnership with Oracle to deliver a robust solution tailored for corporate tax professionals

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CPA Practice

NOVEMBER 25, 2024

The Board of Trustees of the Financial Accounting Foundation (FAF) has announced the appointment of Robert W. Scott to a five-year term on the Governmental Accounting Standards Board (GASB). Scott currently serves as the director of finance and administration for the city of Brookfield, Wisconsin. His term begins July 1, 2025, and extends through June 30, 2030.

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FraudFiles

NOVEMBER 25, 2024

How would you know if your company was being ripped off by a dishonest employee? Most companies miss all of the warning signs that could help stop a fraud early. Studies suggest that the average fraud scheme within a company lasts 18 months. That’s a year-and-a-half that one or more employees are stealing from the [.

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CPA Practice

NOVEMBER 25, 2024

While generosity is a core value for three-quarters of Americans, economic concerns have caused some to tighten their purse strings. Three in ten (29%) Americans report that they have given less to charity this year compared to the year before and a full half (51%) feel they don’t have enough money to give to charity at all. Even so, 67% of Americans still reported giving something in the past year , with more than half (54%) saying they give to charity even though they don’t have a lot of extra

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Accounting Today

NOVEMBER 25, 2024

The Governmental Accounting Standards Board issued an exposure draft on how to account for transactions that occur after the date of the financial statements.

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CPA Practice

NOVEMBER 25, 2024

The Consumer Financial Protection Bureau (CFPB) has finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps. The rule will help the CFPB to ensure that these companies – specifically those handling more than 50 million transactions per year – follow federal law just like large banks, credit unions, and other financial institutions already supervised by the CFPB.

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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

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Accounting Today

NOVEMBER 25, 2024

KPMG research has found gen AI has a 3-17% EBITDA impact, but this is no reason to replace human accountants.

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CPA Practice

NOVEMBER 25, 2024

Practice management software provider Financial Cents has introduced a new billing feature, which enables accounting firms to bill their clients on time, follow up on invoices automatically, get paid faster, and improve their accounts receivable turnover. Key features of the billing feature include: Ability to create one-off and recurring invoices: The billing feature lets you create invoices for your one-off projects, but that’s only one aspect.

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Accounting Today

NOVEMBER 25, 2024

The Internal Revenue Service and its partners in the public and private sectors are planning to highlight the importance of cybersecurity next week.

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CPA Practice

NOVEMBER 25, 2024

The Indiana Society of CPAs (INCPAS) and NABA Inc. (formerly the National Association of Black Accountants) announced on Nov. 20 the launch of ConnectIN, an initiative designed to boost talent pipelines, workforce development, and entrepreneurship in fields such as accounting, finance, business, AI, and emerging technologies. ConnectIN aims to address talent shortages by “creating bold, practical solutions to build a more robust and inclusive workforce while fostering innovation and economic gro

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Accounting Today

NOVEMBER 25, 2024

Developing an AI system can carry a hefty price tag that includes not just the coding of the system itself but secondary costs like labor, training and data fees.

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CPA Practice

NOVEMBER 25, 2024

The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) that, for public business entities that do not have an annual reporting period that ends on December 31, clarifies the interim effective date of Accounting Standards Update No. 2024-03 , Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.

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Accounting Today

NOVEMBER 25, 2024

The Financial Accounting Standards Board released a post-implementation review of its rev rec standard a decade after its implementation.

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Accounting Seed

NOVEMBER 25, 2024

Stop questioning, start acting. How to achieve accurate financial data across every area of your business.

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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.