Summit CPA
JULY 23, 2024
Operations professionals face countless decisions, especially around personnel: When is it time to hire? What position should we prioritize? How many contracts do we have to sign to justify the hire?
TaxConnex
JULY 23, 2024
The nature of sales tax audits has changed over the last several years, post-Wayfair. Prior to Wayfair, a significant component of sales tax audits was focused on use tax. Specifically, tax due on purchases that were not charged since the vendor did not have nexus in the state of the sale. Today, more and more companies have an obligation to charge sales tax, and use tax is less of an issue.
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BurklandAssociates
JULY 23, 2024
It’s not just hackers taking notice. Customers, partners, investors, regulators, and insurers are all keeping a close eye on your cybersecurity controls. The post Why Cybersecurity is an Essential Investment in Your Startup’s Future appeared first on Burkland.
Accounting Today
JULY 23, 2024
Individuals and businesses in the affected counties now have until next Feb. 3 to file various federal individual and business tax returns and make tax payments.
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.
CPA Practice
JULY 23, 2024
Investors, accounting firms, and other stakeholders have until Oct. 21 to provide comments on a new proposed Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB) on Tuesday that aims to clarify rules on derivative accounting. Because of the broad interpretation of the definition of a derivative in Topic 815, Derivatives and Hedging , many types of contracts are being evaluated and potentially accounted for as derivatives, the FASB said.
Going Concern
JULY 23, 2024
Be aware, audit firms. The PCAOB is sniffing around about your use of generative AI according to a Spotlight they just released [ PDF ]. Exactly what they said was: The PCAOB’s standard-setting agenda includes a research project to assess whether there is a need for guidance, changes to PCAOB standards, or other regulatory actions in light of the increased use of technology-based tools in the preparation and subsequent audit of financial statements.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
KROST
JULY 23, 2024
In the event of your death, a life insurance policy ensures that your family has the financial resources to maintain their standard of living. This is the number one reason why individuals consider life insurance. Although it’s the number one reason, it’s not the only reason. Life insurance can also be an essential estate planning Read the full article.
AccountingDepartment
JULY 23, 2024
In today's competitive business landscape, staying ahead of the competition requires more than just a great product or service. Entrepreneurs, small business owners, and financial analysts must focus on tracking key financial metrics to ensure their company's growth and financial health.
ThomsonReuters
JULY 23, 2024
A major global IT outage occurred on July 19, 2024, affecting numerous industries worldwide. The incident was attributed to a software update from cybersecurity firm CrowdStrike , which resulted in widespread system issues. Outage range and time to recover The outage had far-reaching consequences, affecting airlines, banks, healthcare providers, and other critical services.
Accounting Today
JULY 23, 2024
Going concern opinions have slowly decreased over the last two decades, with the exception of spikes during the 2008 financial crisis and the years of the COVID-19 pandemic.
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.
Withum
JULY 23, 2024
In the ever-evolving landscape of technology, AI has emerged as a powerful tool, helping employees win back minutes, if not hours, in their workdays, and holding immense yet-to-be-realized potential for transforming industries. A current edge in AI at work is that it often encompasses the combined knowledge of multiple professionals, surpassing what a single human can retain.
Accounting Today
JULY 23, 2024
Preliminary results of a recent survey suggest that the location — and sources — of dissatisfaction in accounting firms may be surprising.
Xero
JULY 23, 2024
This guest blog was written by the team at GoCardless. Running a small business can mean moving between being a general manager to a customer services contact, marketing lead and, in some cases, debt collector. Without the proper processes in place, managing payments can take up too much time and even result in bigger problems. In fact, the Office of National Statistics shared that poor cash flow is responsible for up to 90% of new businesses failing.
CPA Practice
JULY 23, 2024
By Hallie Lauer, Pittsburgh Post-Gazette (TNS) The Pennsylvania Supreme Court will consider Pittsburgh’s reliance on a tax levied on out-of-town athletes and performing artists—the so-called “jock tax”—following a lower court’s ruling earlier this year that the tax is unconstitutional, a decision that could have lasting budgetary implications for the city.
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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.
Withum
JULY 23, 2024
Last Friday over 5,000 flights across the world had to be cancelled because of an alleged single computer misstep by a single company. A few weeks ago, I left my house to run errands in my neighborhood. After a few minutes, I realized I had forgotten my iPhone, and a deep feeling of dread came upon me should I have an accident and need to call someone.
Menzies
JULY 23, 2024
Menzies LLP - A leading chartered accountancy firm. Very few would have predicted the implausible combination of Brexit and COVID, and the momentous impact they would have in recent years. Since March 2020, food and drink manufacturers, producers and distributors have been forced to continually adapt to the ever-changing landscape. That remains true to this day, especially surrounding sustainability.
Withum
JULY 23, 2024
The Defense Federal Acquisition Regulation Supplement (DFARS) outlines specific requirements for contractors’ accounting systems. These systems play a crucial role in ensuring accurate financial reporting, compliance with regulations, and effective cost management. Let’s delve into the key aspects of DFARS accounting systems and their significance.
Cherry Bekaert
JULY 23, 2024
Safe Harbor Domestic Violence Agency – Greenville, SC Escaping Domestic Violence Individuals and families impacted by domestic violence have inherently been exposed to traumatic events in their lives. Safe Harbor is committed to providing programs and services that are designed with an understanding of the impact of trauma on individuals and families, as well as a recognition of a survivor’s resiliency and ability to heal.
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
JULY 23, 2024
The Internal Revenue Service and the Security Summit partners today urged tax professionals to learn the signs of data theft so they can respond quickly to protect their business and their clients.
CPA Practice
JULY 23, 2024
By Anna Helhoski, NerdWallet, via Paradise Post, Paradise, Calif. (TNS) Despite the prevalence of TikTok videos and recent articles detailing stories of individual college graduates struggling to find good jobs, the data tells a different story. After all, the overall labor market is stronger than it’s been in decades. And Zoomers who recently graduated from college are certainly better off, in most respects, than previous generations of new grads.
Insightful Accountant
JULY 23, 2024
Murph shares how you can be a 'code-breaker' in the 2025 U.S. ProAdvisor Awards and potentially score more points by ensuring you get ranked in every applicable category for your practice.
Anders CPA
JULY 23, 2024
Real estate developers in Missouri have access to dozens of state and federal tax credits that can help you maximize profitability and minimize costs. Some programs, like the Low Income Housing Tax Credit (LIHTC) and Historic Preservation Tax Credit Program (HTC), are available as both federal and state credits. Other programs, such as the Business Use Incentives for Large-Scale Development (BUILD) and the Missouri Affordable Housing Assistance Program, are only available as tax credits in Misso
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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
JULY 23, 2024
Of the 54 companies that went public in the second quarter of 2024, PwC and Withum audited 16 of them—eight each—more than any other audit firm, according to a new analysis from Ideagen Audit Analytics. Overall, 18 different firms audited the 54 new initial public offerings, which raised a combined total of $10.5 billion. Coming in behind PwC and Withum was Marcum, which had seven new clients—the same total as in Q1.
ThomsonReuters
JULY 23, 2024
Jump to: Strategic preparation: The key to AI integration Understanding business needs and cultivating partnerships that prepare for AI Key considerations for implementing AI in tax and finance business processes Next steps for businesses to prepare for AI For more than a decade, artificial intelligence (AI) has been weaving its way into tax and finance business processes, yet its expansion has accelerated dramatically in recent years.
Cherry Bekaert
JULY 23, 2024
Contributors: John Heagy, Manager, Risk & Accounting Advisory Services Sarbanes-Oxley (SOX) 404 compliance is widely perceived to be a highly burdensome requirement for U.S. Securities and Exchange Commission (SEC) filers large enough to have the compliance apply. The SOX mandate requires a company to obtain an auditor’s opinion on the financial statements (404a) and their opinion on the internal controls over the financial reporting process (404b).
Accounting Today
JULY 23, 2024
The Public Company Accounting Oversight Board has released the result of initial outreach efforts regarding auditors and generative AI.
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.
Cherry Bekaert
JULY 23, 2024
Contributor: Michael Wallach, Senior Manager In 2019, a qualified opportunity fund (QOF) within a large real estate holding company (the Company) invested in a qualified opportunity zone business (QOZB), which purchased land for development opportunities. With the disruption of COVID-19, and the various obstacles the pandemic brought to the construction industry, the business decided to sell the property in 2022.
Accounting Today
JULY 23, 2024
The landscape of talent acquisition is rapidly shifting due to intense competition for top talent and the rise of the gig economy.
Mark Lee
JULY 23, 2024
You have probably heard the suggestion that it’s important to help people get to ‘know, like and trust’ you. Only then will they buy from you. Only then will they even consider becoming your client. This idea originated in the book ‘Endless Referrals’, written by Bob Burg, who said: “All things being equal, people do business with, and refer business to people they Know, Like and Trust.
Accounting Today
JULY 23, 2024
AitM; IRS strategies after Chevron; the taxman's jackpot; and other highlights from our favorite tax bloggers.
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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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