Mon.Feb 24, 2025

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Accrual vs. Cash-basis Accounting: A Comparison

Patriot Software

Business owners have a lot of decisions to make, especially in the beginning. One of the most important decisions is how to handle bookkeeping for your business. There are three methods of accounting to choose from: Cash-basis, modified cash-basis, and accrual accounting. The two methods that differ the most are accrual and cash-basis accounting.

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Ethical Issues for the Modern Tax Practice: The Role of Remote Work

CTP

The rise of remote work has impacted the majority of industries across the U.S. The Bureau of Labor Statistics found that between 2019 and 2021 the percentage of remote workers rose from less than 17% to over 39% among professional, scientific, and technical servicesincluding tax professionals. Adopting remote working practices comes with both advantages and disadvantages: how can you communicate well across geographies and time zones and make sure the client gets the best product?

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Here’s How Many Hours Accountants Are Saving With AI (Allegedly)

Going Concern

On average 56 minutes a day, or 18 hours a month , according to the 2025 State of AI in Accounting Report by Karbon. Who’s working just 18 days a month? Good for them. Karbon said: On average, accounting professionals save 56 minutes a day (a potential of 18 hours a month) with AI, with over a third (38%) of this time spent on communication tasks like drafting emails and managing correspondence.

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Musk's influence and new IRS bills could reshape tax season

Accounting Today

Time will tell how a federal hiring freeze, Elon Musk's push for efficiency and new tax-focused legislation will shape the path of the Internal Revenue Service.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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1099-K Tax Rules: What You Need to Know if You Get Paid Via Venmo, Cash App, or PayPal

CPA Practice

If you get paid through Venmo, PayPal, Cash App or another payment app, you may receive an IRS Form 1099-K this year. Here's what you need to know.

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Understanding Crypto Forensics

Withum

In this episode of Cryptonomix, Mark Eckerle sits down with Chris Groshong, President at CoinStructive.

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Taking the helm at the AICPA

Accounting Today

The new head of the AICPA, Mark Koziel, shares his thoughts about the profession, his plans for the organization, and more.

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AICPA Asks for Updated Language in Draft Publication 547 to Help Taxpayers Eligible for Disaster Tax Relief

CPA Practice

The AICPA cites the need for these updates to ease the confusion created by disaster relief due to the multiple deadlines for various actions necessary to be eligible for the qualified disaster loss.

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Anders Managing Partner Robert Minkler, Jr. Named to Inaugural St. Louis Business 500

Anders CPA

Anders Managing Partner Robert Minkler, Jr. has been named to St. Louis Magazines Business 500, a definitive guide to the regions most influential, impactful and innovative leaders. The list recognizes C-suite executives and emerging entrepreneurs across a wide range of industries. As part of the St. Louis Business 500, St. Louis Magazine also released Beyond the Bios , offering an in-depth look at these leaders aspirations, achievements, and interests beyond the workplace.

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DeSantis to Create Florida Version of DOGE to Audit Universities and Local Governments

CPA Practice

He proposed eliminating about 740 state jobs, while adding staff to other agencies in need of more people, such as the Department of Corrections.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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Berkshire Hathaway sets record with massive tax bill

Accounting Today

Warren Buffett said the company has paid the U.S. government more than $101 billion in taxes since he took the helm 60 years ago, more than any other company in history.

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These States Have the Highest Property Tax Rates

CPA Practice

WalletHub released a new study of the states with the highest property tax rates to give prospective homebuyers a better understanding of how much they can expect to pay each year.

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Practice Profile: Don't call it a 'tax season'

Accounting Today

Account Sense is fighting burnout with a different approach to scheduling during busy season and beyond.

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Average Tax Refund is Down 32%, IRS Data Shows

CPA Practice

A quick glance at the latest 2025 tax refund numbers may be cause for concern for those who havent filed yet, but the IRS says theres a good reason why certain numbers are down.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Art of Accounting: Increasing fees to eliminate a shortfall

Accounting Today

The pricing of accounting services is a big concern and it should be.

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Sales Tax Trip Tuesday Time – February 2025

Insightful Accountant

"On the rail again and paying sales tax along the rail again" Did you catch that little change from the last time? Rail vs. Road! In this edition of Sales Tax Trip Tuesday we take our 'first ever' rail trip aboard the 'Rocky Mountaineer.

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Why Prioritizing Wellness This Tax Season is a Game Changer

Canopy Accounting

Join Amy Freshman (ADP) , Darren Root (Better Every Day) , and Nicole McMillan (Canopy) as they discuss practical strategies for accountants to maintain wellness, avoid burnout, and stay productive during the busiest time of the year.

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2025 ProAdvisor Awards 'Voting' Begins March 1

Insightful Accountant

Voting for both the U.S. and International ProAdvisor Awards will begin on Saturday, March 1, 2025 and continue through April 1st.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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New website aims to support emerging Section 351 ETF conversions

Accounting Today

As the tax deferral method grows in popularity, experts caution that the benefits come with important caveats for financial advisors to keep in mind.

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Let's All "Be Insightful" Tomorrow

Insightful Accountant

Join Murph, Gary and guest Kimberly Noh at tomorrow's "Be Insightful" webinar.

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Deloitte China names first local woman as CEO

Accounting Today

Dora Liu will become Deloitte China's new chief executive on June 1 for a four-year term.

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Sales Tax Trip Tuesday Time – February 2025

Insightful Accountant

"On the rail again and paying sales tax along the rail again" Did you catch that little change from the last time? Rail vs. Road! In this edition of Sales Tax Trip Tuesday we take our 'first ever' rail trip aboard the 'Rocky Mountaineer.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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CBIZ CPAs readjusts after Marcum acquisition

Accounting Today

CBIZ and Mayer Hoffman McCann had been operating under an alternative practice structure long before many other firms began adopting one after a PE investment.

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Let's All "Be Insightful" Together

Insightful Accountant

Join Murph, Gary and guest Kimberly Noh for this week's "Be Insightful" webinar.

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Case Study: Driving Efficiency with Power Platform – A Fortune 500 Food Manufacturer’s Automation Revolution 

Withum

Migrating 40+ robotic process automations to Microsoft Power Platform for enhanced reliability and scalability. Executive Summary Building on established RPA automations, Fortune 500 food manufacturer undertook a significant project to migrate over 40 processes from a legacy automation platform to Microsoft Power Platform. This transition not only improved automation reliability and cost-effectiveness, but also allowed for broader employee participation in automation initiatives.

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Debunking workplace taboos: What you can really talk about at work

Reckon

Across businesses, there is an expectation that you conform in the workplace. This makes sense: work is work, everyone has a job to do. But what about topics or behaviours that are left unsaid or avoided? The workplace taboo can take many forms, and most of the time we know what they are and dont engage or participate in them. For example, committing crimes like assault or robbery will find you without a job and in jail.

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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

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The Impact of ASU 2023-08 on Nonprofits: Accounting for and Disclosure of Crypto Assets

Withum

In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-08, significantly impacting how nonprofit organizations account for and disclose crypto assets. This update introduces new guidelines that require nonprofits to adapt their financial reporting practices to provide more accurate and transparent information.

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Thomson Reuters ONESOURCE: A tax technology solution for the modern IT professional

ThomsonReuters

In today’s digitally-driven world, businesses across all sectors undergo significant technological transformations. These changes, often involving transitions to cloud-based systems, are reshaping how core business functions operate, including taxation. For example, reduced IT maintenance can save businesses an average of $297k. IT professionals are essential to driving successful digital transformation across the indirect tax department.

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Accelerating Your Procurement Cycle With NetSuite 

Withum

Using Oracle NetSuite can significantly accelerate your procurement cycle time by leveraging process optimization, purchase order automation, integration features or adding a 3 rd Party application. The procurement cycle varies by industry and company but generally includes: Purchase order management and approvals Item receipt or service completion Accounts payable invoices and payments Vendor management Enhancing procurement cycle velocity offers benefits such as lower operational costs, quicke

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House Republicans Advance $4.5T Tax Package Amid Budget Negotiations

Insightful Accountant

The House Budget Committee has voted along party lines (21-16) to advance a budget resolution that would allocate $4.5 trillion primarily for extending the 2017 Tax Cuts and Jobs Act (TCJA) provisions and implementing additional tax reforms.

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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.