Mon.Apr 29, 2024

article thumbnail

How AI is transforming accounting

Accounting Today

A recent survey from EY found that 90% of respondents already use at least some AI in their work, and other recent developments around the technology.

article thumbnail

Finding Your Financial Compass: Why Small Businesses in Los Angeles Thrive with Specialized Tax and Accounting Support

MyIRSRelief

Los Angeles, the City of Angels, beckons with its vibrant energy, diverse culture, and endless opportunities. It’s no surprise then, that thousands of ambitious entrepreneurs set up shop in the sprawling metropolis and its surrounding cities, forming the backbone of the Los Angeles-Long Beach-Anaheim, CA (LA Metro) economy. But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming.

Tax 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Insightful Accountant's Top 100 ProAdvisors for 2024

Insightful Accountant

Insightful Accountant proudly announces this year's Top 100 ProAdvisors along with our Emeritus ProAdvisors of the Year. Congratulations to all being recognized for this year's awards.

article thumbnail

Digital Workflow in Intuit ProConnect Tax

CPA Practice

By Scott H. Cytron Filing taxes for your clients doesn’t have to be a drain on your firm’s time, energy, and resources. For today’s firms, continuing with “business as usual” might mean: Collecting paper documents and using multiple software programs, leading to data entry errors, complex workflows, and wasted time. Struggling to recruit and retain high-quality employees.

Tax 124
article thumbnail

Less Stress, More Success: Accounting Best Practices & Processes for 2025

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.

article thumbnail

IRS issues guidance for new round of advanced energy project credits

Accounting Today

Notice 2024-36 announces the second round of credit allocations for a program to allocate the remaining $6 billion in credits.

Tax 132
article thumbnail

Marketing for Growth – 4 Tips for Firms

CPA Practice

By Sarah Acton, Chief Marketing Officer at BILL. Many accounting firms started 2024 with an eye toward expansion, and the post-busy season spring brings renewed purpose and fresh perspective to put plans into action. According to Accounting Today , 62% of the top 100 firms reported double-digit growth in 2023, and the majority are optimistic for continued growth this year.

Education 118

More Trending

article thumbnail

Women Are More Stressed at Work—But Hybrid Has Helped, Deloitte Says

CPA Practice

By Sarah Lynch, Inc. (TNS) Women are still struggling in the workplace—and not just when it comes to the pay gap. Half of women say their stress levels have increased from a year ago, according to a recent survey of 5,000 women across 10 countries from Deloitte. Meanwhile, nearly half said they were “concerned or very concerned” about their mental health—one of their top three concerns, along with financial security and their rights.

115
115
article thumbnail

10 Signs Your Business Accounting System Needs an Overhaul

IgniteSpot

Mastering the art of accounting is akin to discovering a treasure map to real wealth in the entrepreneurial journey. Yet, for many business owners in their prime years of building and scaling, accounting remains the least favored aspect of their venture. This is not due to a lack of effort or ambition but often because of a broken accounting system that silently drains their business's potential.

article thumbnail

Internal Audit Foundation Report Finds Changing Risk Landscape Will Require Shift in Hiring Trends

CPA Practice

The recruitment and hiring landscape for internal audit must evolve to ensure the profession keeps pace with a changing risk environment. That’s according to the results of a new report ‘ Fueling the Internal Audit Student Talent Pipeline: Perspectives from Educators and Practitioners’ released at the Global Student Conference by the Internal Audit Foundation, sponsored by Deloitte.

audit 111
article thumbnail

The permanence of change

Accounting Today

The truth that most things are writ in water may as well be carved in stone.

125
125
article thumbnail

Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

article thumbnail

FreshBooks Updates Digital Payment Options with Stripe Connect

CPA Practice

The online small business management system FreshBooks has launched FreshBooks Payments, its new solution that uses the Stripe Connect digital payment platform’s latest features and makes it easier for business owners to accept payments seamlessly. The new payment method is in the later stages of beta testing, and will be available to all FreshBooks users this summer.

article thumbnail

The CFO's role in navigating gen AI transformation

Accounting Today

As we enter the next industrial revolution, CFOs will be central to striking the right balance between risks and growth opportunities.

102
102
article thumbnail

IRS Opens Second Allocation Round For Advanced Energy Tax Credit

CPA Practice

The IRS issued new guidance on Monday that provides additional information about the second allocation round under the Qualifying Advanced Energy Project Tax Credit program. The program, which was re-established by 2022’s Inflation Reduction Act, renews and expands a tax credit created in 2009 through the American Recovery and Reinvestment Act. It provides incentives for clean energy manufacturing and recycling, industrial decarbonization, and critical materials processing, refining, and recycli

Tax 98
article thumbnail

Voting for 2024 International ProAdvisors Ends Tonight

Insightful Accountant

Tonight is your very last opportunity to cast your vote for our candidates for the 2024 International ProAdvisor Awards.

98
article thumbnail

Back to Basics with Reconciliations

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.

article thumbnail

The Top KPIs for Construction Firms

GrowthForceBlog

9 min read April 23rd, 2024 Key performance indicators (KPIs) are metrics that are calculated using a business's operational and financial data. Generally, KPIs are used to measure, track, evaluate, and improve performance. Key Takeaways Types of Industry-Specific KPIs for Construction Firms: Depending on your construction firm's specific business strategy, goals, and challenges, there might be other types of KPIs that are relevant to measuring performance within your business's unique situation

article thumbnail

AICPA Asks Treasury for Clarification of Long-Term and Part-Time Employee Rules

CPA Practice

In a letter sent to the U.S. Treasury and Internal Revenue Service (IRS), the AICPA submitted recommendations regarding regulations related to long-term, part-time (LTPT) employee rules for cash or deferred arrangements under section 401(k). The recommendations touch on points made in the November 2023 proposed regulations related to the changes to LTPT employees made by SECURE 2.0 in relation to when they are permitted to participate in an employer-sponsored, tax-qualified retirement plan.

CPA 69
article thumbnail

IFRS revenue and expenses jump 41%

Accounting Today

The IFRS Foundation attributed the increase in revenue and expenses to consolidated operations in its 2023 annual report.

article thumbnail

PwC Australia Makes AI a Key Part of Its Three-Year Plan Because AI Isn’t Invited to the Secret Government Tax Meetings

Going Concern

Still-scandalized PwC Australia released its three-year plan on Friday and no one should be surprised that they’ve put trust front and center. Funny considering PwC US just got rid of that whole Trust nonsense in people’s job titles and everywhere else where weird nicknames for assurance are required. Whatever. Unlike PwC US, PwC Australia definitely needs to keep repeating the trust part until it sticks.

article thumbnail

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

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

article thumbnail

PCAOB Group Seeks Input On the Most Decision-Useful CAMs or KAMs

CPA Practice

Calling all public company executives, board members, auditors, financial analysts, and investors: The Public Company Accounting Oversight Board’s Investor Advisory Group (IAG) needs a favor. The IAG said during its April 24 meeting that it’s seeking nominations for the most decision-useful critical audit matter (CAM) or key audit matter (KAM) contained in public company audit reports included in 2023 Form 10-Ks and Form 20-Fs.

auditor 64
article thumbnail

AIA Scholarships Awarded to Aspiring Accountants from the Commonwealth and UK

Accounting Insight

AIA is delighted to announce the recipients of the 2024 AIA Scholarships, funded by the AIA Educational and Benevolent Trust. These scholarships are awarded to students demonstrating a strong commitment to pursuing a career in accountancy or auditing, providing them with full financial support to achieve the AIA professional qualification. The deserving winners of this year’s scholarships are Shantelle Malcolm from Jamaica, Michael Jefferson Nelson from Ghana, and Tony Li from the United Kingd

article thumbnail

PCAOB IAG seeks nominations for best CAMs, KAMs

Accounting Today

The PCAOB Investor Advisory Group is accepting public nominations for the most decision-useful CAMs or KAMs of 2023.

audit 78
article thumbnail

Expected changes to company size thresholds from 1 October 2024

Menzies

Menzies LLP - A leading chartered accountancy firm. Substantial change to company size thresholds The UK government has recently announced a substantial change to company size thresholds, the first revision to the thresholds since 2016, as they attempt to simplify the regulatory landscape for UK businesses. The changes are intended to reduce the complexity and administrative burden for companies and will directly impact the type of accounts a company is required to prepare and whether the compan

article thumbnail

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.

article thumbnail

Canopy's 2024 Roadmap- Making Your Life Easier

Canopy Accounting

Speakers: KC Brothers & Shane Westra Tax Day has come and gone and we know you’ve been busy, we have the metrics to prove it. In this webinar we’ll share how much you worked (like the more than one billion data requests Canopy facilitated). We’ll also do a deep dive into some new features meant to make your life easier and will let you in on what we have planned for the future.

Tax 52
article thumbnail

The importance of record keeping in a digital world

Reckon

Guest post by AON. Here’s why keeping appropriate records can help during a claim. In a world where almost everything is paperless, keeping records and filing documentation is something that might slip your mind as you go about your usual business. While digitisation has made record keeping easier in some ways, it has also brought about some complexities.

article thumbnail

Daniel Dustin to Take the Reins of NASBA in August

CPA Practice

Daniel Dustin will succeed the retiring Ken Bishop as president and CEO of the National Association of State Boards of Accountancy on Aug. 1, NASBA announced on Friday. “Dan’s long history and expertise in accounting regulation makes him uniquely qualified to assume the role as president and CEO of NASBA. I have had the distinct opportunity to collaborate with Dan over the years on key initiatives and programs, including the Uniform Accountancy Act, CPA Evolution, and professional licensure,” NA

article thumbnail

There’s more to managing risk than insurance: 6 pillars of managing risk in a service based business

Reckon

Guest Post by AON. There’s not much in life that comes without risk – whether it’s starting a business, or even just crossing a road. When it comes to running your business, the biggest risk in your mind is probably not making a profit. However, events such as a client tripping over and injuring themselves while at your premises, or having legal action taken against you due to advice you provided are also incidents that can have a substantial impact on your business.

Legal 52
article thumbnail

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.

article thumbnail

Rescheduling Cannabis – Legal and Fiscal Implications

Anders CPA

The cannabis industry is at a very critical point as the recommendation and legal procedures needed to reschedule marijuana could have a massive impact on the taxation and profitability of legal cannabis. The biggest challenges for most small and independent industry players are taxation and competition, with most finding it tough to get out of the 1-3 year start-up phase.

Legal 52
article thumbnail

Efficiently Handle IRS Notices with Tech

Insightful Accountant

IRS notices surged in 2024 after a pandemic pause, causing confusion and stress for clients receiving past due balance notifications from as far back as 2020.

52
article thumbnail

Art of Accounting: How to make clients your sales team

Accounting Today

Learn how to get more referrals from existing clients who are truly happy about their relationship with you.

Sales 67
article thumbnail

FreshBooks launches FreshBooks Payments

Insightful Accountant

FreshBooks expands payment operations for business owners with new and innovative Stripe Connect features.

52
article thumbnail

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.