Mon.Nov 04, 2024

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Tired of 20+ Page Organizers? Here’s How to Make Tax Season a Breeze

Insightful Accountant

Tax season can be a challenging time for both accountants and clients, particularly when it comes to collecting accurate and complete tax information. A primary source of frustration for accountants is the use of traditional tax organizers.

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Fraud Prevention Resources for Startups

BurklandAssociates

Protect your startup from costly fraud with expert insights, tools, and resources designed to strengthen your defenses. The post Fraud Prevention Resources for Startups appeared first on Burkland.

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Layoff Watch ’24: KPMG Shrinks Audit By a Few Hundred People

Going Concern

You’ve likely heard of people in audit getting disappeared from KPMG in recent days, we certainly have. Anyone who tried to cope with a “they must have been low performers” might want to season their hat before they eat it. WSJ reports today that KPMG is laying off a few hundred people in audit “as it works to make up for lower levels of voluntary turnover.” Meaning attrition is still too low.

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Why accounting firms are bleeding talent

Accounting Today

Stagnating wages and gaps in career path awareness have pushed young professionals away from accounting, leading to a dearth of candidates and leaving firms scrambling to find a solution.

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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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Steve Menna Joins Withum

Withum

Withum is excited to welcome Steven Menna as a Partner in our Financial Services Team. Menna, who brings extensive experience and innovative leadership, will spearhead the firm’s national alternative investments expansion, focusing on the Southeast and Southwest regions. “I’m thrilled to be joining Withum’s dynamic team and advancing the firm’s presence and success nationally with concentrations from the southeast to the Southwest.

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FASB issues standard on income statement expenses

Accounting Today

In response to demand from investors, public companies will be required to disclose more information about certain expenses in the notes to financial statements.

More Trending

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EY forms Global AI Advisory Council

Accounting Today

Big Four firm Ernst and Young announced the formation of the Global AI Advisory Council, which will act as a sounding board as EY manages the extensive scale of AI deployments.

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Monday Morning Accounting News Brief: Feds Raid PwC; Big 4 Wants to Be Like Grant Thornton!? | 11.4.24

Going Concern

Well the year is just chugging along, here we are at the first Monday news brief of November. I trust you had your fill of candy the past few days. Now gorge on some news! The Aussie feds are swarming PwC Australia HQ , staff have been advised to “please carry on as usual.” Australian federal police officers have commenced a search for documents at the headquarters of PwC Australia in response to the damaging tax leaks scandal.

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Finance & Insurance Tops All Industries in Employee Benefits

CPA Practice

According to recent data, 78% of employees say they’re more likely to stay at a job based on the benefits offered. Furthermore, the cost of replacing an employee can be between one-half and two times the departing employee’s salary. To discover which industries offer the most comprehensive employee packages, international telecom provider TollFreeForwarding.com gathered new data to rank 16 industries on their employee benefits.

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Another Disappointment for the Cannabis Industry as Rescheduling Delayed

Withum

The cannabis industry has waited with bated breath for the December 2nd hearing, where many anticipated that final testimony in favor of rescheduling would be heard by the Drug Enforcement Agency (DEA). The hope was that this would lead to an expedited rescheduling, and perhaps IRC §280E might not apply to the tax year ending 2024 (or at least all twelve months of 2025).

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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Planning for 2025's tax brackets and retirement rules

Accounting Today

The adjustments reflect how inflation is slowing down and upcoming changes to the rules based on the Secure 2.0 Act and the Tax Cuts and Jobs Act.

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Bloomberg Tax Partners with Specialized Tax and Expense Solutions

CPA Practice

Bloomberg Tax & Accounting has launched a strategic partner program with several tax software providers focused on automating common tax processes. This collaboration extends the value of Bloomberg Tax’s suite of solutions and provides customers with a more robust set of tools to address critical tax workflow challenges. The new strategic referral network includes: K1x : An AI-powered platform that streamlines alternative investment data — K-1s, K-3s, and 990s — for investors and advisors.

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PCAOB updates standard-setting, rulemaking agendas

Accounting Today

The Public Company Accounting Oversight Board staff updated its short- and mid-term standard-setting agenda as well as its rulemaking agenda.

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KPMG to Cut Audit Staff By About 4%

CPA Practice

KPMG last week told approximately 330 people—or nearly 4% of its roughly 9,000-person U.S. audit workforce—that they would be losing their jobs in the coming weeks, the Wall Street Journal reported on Monday. The job cuts will impact employees such as audit associates and managers but not partners, according to the WSJ. The reason for the layoffs: low levels of voluntary turnover at the Big Four accounting firm.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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PCAOB board member complains of persecution by senators

Accounting Today

Christina Ho said Sens. Elizabeth Warren and Sheldon Whitehouse are unfairly singling her out for audit failures at firms.

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Navigating the new era of auditing with AI technology: Meet Audit Intelligence Analyze

ThomsonReuters

← Blog home In the rapidly evolving field of auditing, AI-powered technologies are revolutionizing traditional processes. As emerging technologies and regulations reshape the field, many auditors find themselves grappling with outdated processes and inefficiencies. The need for advanced technologies in modern auditing has never been more apparent, and artificial intelligence (AI) is at the forefront of this evolution.

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Art of Accounting: Catch someone doing something good

Accounting Today

Many managers are not in the habit of telling people they did something good.

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CBIZ Completes Marcum Acquisition

CPA Practice

Top 15 accounting firm Marcum has officially been absorbed into top 11 firm CBIZ, as the 2.3-billion-dollar megadeal that was announced on July 31 officially closed on Friday. As a result of the Marcum acquisition, CBIZ will have combined annual revenue of approximately $2.8 billion, more than 10,000 team members, and over 135,000 clients. The Cleveland-based firm is expected to vault over Grant Thornton for seventh spot in the ranking of the top 10 largest U.S. accounting firms based on revenue

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Is PE right for you?

Accounting Today

Private equity is a solution to many firm problems — but not for all firms. Allan Koltin dives into who might be a good fit for PE, and more.

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Blue & Co. Merges in Mellen, Smith, and Pivoz

CPA Practice

Top 60 accounting firm Blue & Co. has expanded into the Detroit market after combining with Mellen, Smith, and Pivoz (MS&P), a full-service accounting and advisory firm based in Bingham Farms, MI, effective Nov. 1. Carmel, IN-based Blue & Co. has added three partners—Jason Pivoz, Jeffry Campeau, and Mark Smith—and more than 20 employees from MS&P.

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Tax engine integration strategies for digital transformation success

ThomsonReuters

← Blog home As corporate tax departments embrace digital transformation, utilizing a tax engine to automate and simplify tax calculations and reporting is becoming a core part of their strategy. Indeed, fully half of tax professionals surveyed recently said their companies are either already using an indirect tax determination engine or plan to purchase one in the next 12 months, according to the Thomson Reuters Institute 2024 Corporate Tax Technology Report.

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Sikich Expands AI Consulting Offerings

CPA Practice

Top 30 accounting firm Sikich on Nov. 4 announced it has expanded its artificial intelligence capabilities with the launch of the firm’s new Sikich AI Solutions Studio and the appointment of Ray Beste as principal AI strategist. Ray Beste Building on established generative AI and data analytics strengths, the expanded AI offerings deliver innovative solutions that drive business growth and success, the Chicago-based accounting firm said.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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Nominations for 2025 ProAdvisor Awards Continue

Insightful Accountant

It's not too late, you can still tell that 'special ProAdvisor' in your life just how much you think of them by nominating them for the 2025 ProAdvisor Awards. Whether they are U.S. or International ProAdvisor we're still accepting nominations.

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M&A roundup: KSM, KNAV and ATKG expand

Accounting Today

KSM adds SGKK; KNAV merges in HLG Netherlands; ATKG combines with SPR.

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Join us for App Academy - Tomorrow 11/6/2024

Insightful Accountant

Murph is excited to be joining the team for Wednesday's App Academy. He will be sharing insights and commentary on the five participating app solutions.

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Third-Party Cyber Risk Management Shows Progress

CPA Practice

The 2024 study demonstrates Progress is being made in third-party risk management as respondents shifted focus from TPRM awareness and adoption to enforcement and compliance. That’s according to a new survey by BlueVoyant , a cyber defense company. The fifth annual global survey into supply chain cyber risk management highlights ongoing investment in technology and talent to enhance supply chain security.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Future-proofing Your Accounting Firm

Canopy Accounting

In this free eBook, "Future-Proofing Your Accounting Firm," you’ll learn data-backed strategies on AI integration, digital transformation, cybersecurity, and workforce planning—all critical to future-proofing your firm.

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Outsourcing Tissue Culture for Cannabis Growers: Eliminate Risk, Boost Yield

Anders CPA

With all the complications of running a cannabis business, it’s easy to forget that cannabis is a plant: a living organism with its own genetics that takes care and cultivation to grow. To get all the various strains that now fill our stores, there are things a grower can do to improve those genetics and test to make sure we’re getting the highest quality plant possible.

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Withum Announces Cloud-Based Digital Audit Platform

CPA Practice

Withum , a nationally ranked advisory and public accounting firm, has announced the implementation of its integrated cloud-based digital audit platform, marking a significant milestone in its innovation offerings. By integrating this platform with the firm’s other cloud-based solutions, Withum has created automated workflows that foster consistency, collaboration and scalability.

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Amnesty Scheme for Demand Issued u/s 73 of CGST Act for FY 2017-18 to 2019-20| Manner of Filing Application and Payment of Tax

VJM Global

Because in the initial period of Implementation of GST, the taxpayer has made various genuine mistakes while filing the return and while making payment of tax, the 53rd GST Council meeting announced an amnesty scheme, i.e., waiver of interest and penalty, for Notice or statement or order issued under Section 73 of CGST Act for the period of 2017-18 to 2019-20.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.