Withum

JULY 31, 2024

Download a PDF of this case study Executive Summary The Labor Union had several turnovers within their accounting department, causing them to fall into trusteeship due to their financial mismanagement. Withum’s Outsourced Accounting Systems and Services (OASYS) team intervened, rectifying the accounting records and paying overdue bills, transitioning their accounting system to a cloud-based platform and introducing an online bill payment system.

Bill Payment Platform 52

Bill Payment Platform accountant Account accounted 52

Accounting Today

JULY 31, 2024

Two huge firms are coming together in a $2.3 billion cash-and-stock deal, making the combined firm what is projected to become the seventh largest accounting firm in the U.S. with approximately $2.8 billion in annual revenue.

accounting firms 131

accounting firms accountant Account accounted 131

Withum

JULY 31, 2024

Everyone wants to know why it is taking so long for the IRS to pay their claims for the employee retention credit (ERC) and what they can do about it. There are steps that businesses can take today, but let’s first review why the IRS is slow-paying these claims. The IRS has an estimated 1,400,000 ERC claims in its backlog. Last year, when the IRS announced a moratorium on the processing of ERC claims filed after September 14, 2023, its backlog was about 600,000 claims.

audit 125

audit Tax Maine tax services 125

CPA Practice

JULY 31, 2024

Professionals on the Move is a round-up of recent staffing and personnel announcements from around the profession. CLA Celebrates More than 700 Advancements CLA (CliftonLarsonAllen LLP), the eighth-largest accounting firm in the United States, recently announced more than 700 advancements across the firm. Twice each year in July and November, CLA advances high performing team members to new roles, further developing the firm’s talent and investing in its succession mindset.

Ohio 116

Ohio audit cpas CPA 116

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.

Account

Accounting Today

JULY 31, 2024

Increasing starting salaries is the key to attracting young talent to the profession, but the first step is boosting salary transparency.

accountant 128

accountant Account accounted 128

CPA Practice

JULY 31, 2024

A 2.3-billion-dollar megadeal in public accounting was announced this morning, as top 15 firm CBIZ said it’s acquiring another top 15 firm, New York-based Marcum, which would put the combined firm among the seventh largest in the U.S. by revenue after the transaction closes later this year. Cleveland-based CBIZ, which is a publicly traded accounting services provider (NYSE: CBZ), will acquire the non-attest business of Marcum, while Kansas City, MO-based Mayer Hoffman McCann, the national indepe

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cpa firm CPA Kansas public accounting 115

CPA Practice

JULY 31, 2024

By Timothy Keith. Artificial intelligence might be able to help introverts sell with less social discomfort and higher effectiveness, offering help for a challenge many accounting and law firm partners suffer with. And just in time, too: This rise and adoption of AI-empowered marketing and sales tools in professional services firms comes as private equity investments in professional service firms makes revenue growth more important than ever.

Sales 115

Sales Education Gaming accountant 115

Insightful Accountant

JULY 31, 2024

Things are looking bleak for the annual release of QuickBooks Desktop. It's August 1st, and Beta Testers are typically 'testing' RC1 (release candidate 1) for a September release date, but not this year.

quickbooks 105

quickbooks 105

CPA Practice

JULY 31, 2024

By Gail Cole. Washington could be on its way to becoming the third state in the nation with a retail delivery fee, following the route paved by Colorado and Minnesota. So, what would a Washington retail delivery fee look like? When would it take effect? Read on to find out. What is a retail delivery fee? The name says it all: A retail delivery fee is a fee imposed on items purchased at retail for delivery in the state by motor vehicle.

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Washington Retail Minnesota Colorado 111

Accounting Today

JULY 31, 2024

Private sector employment grew by 122,000 jobs in July — a deceleration from the average job gains seen over the second quarter of the year.

payroll 119

payroll accountant accounted Account 119

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

CPA Practice

JULY 31, 2024

The American Institute of CPAs (AICPA ) has provided recommendations to the Department of the Treasury and the Internal Revenue Service (IRS) on interim guidance in Notice 2023-38 as updated by Notice 2024-41. The guidance describes certain rules that Treasury and the IRS intend to include in proposed regulations regarding the domestic content bonus credit (DCBC) requirements and related recordkeeping and certification requirements.

Manufacturing 110

Manufacturing cpas Tax 110

Accounting Today

JULY 31, 2024

Accounting Today's inaugural salary survey reveals that young accountants need to make more.

accountant 126

accountant Account accounted 126

CPA Practice

JULY 31, 2024

By Marc Staut. Technology, personnel, accounting standards, and tax regulations mean accounting firms are constantly changing. So, it’s easy to neglect the need for innovation. However, that’s a serious mistake. Evolving client expectations, the commoditization of traditional accounting, tax and audit services and talent shortages demand that firms find new service lines and do more with the same resources.

tax return 98

tax return accounting standards audit Tax 98

Accounting Today

JULY 31, 2024

The International Accounting Standards Board published a consultation document with eight proposed illustrative examples to show how companies could apply International Financial Reporting Standards when reporting the effects of climate-related and other types of uncertainties in their financial statements.

financial statements 75

financial statements international accounting standards accounting standards accountant 75

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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.

financial statements

CPA Practice

JULY 31, 2024

As students head back to school, a class they may not have available to them is one focused on personal finance or financial literacy. According to research by Junior Achievement and research firm Big Village, 68 percent of teens would “likely” take a class on financial literacy (money management, personal finance) if offered to them, yet only 31 percent say they have access to these kinds of courses in school.

accounting and finance 98

accounting and finance Finance accountant Account 98

SkagitCountyTaxServices

JULY 31, 2024

Let’s leave aside culture wars controversies about the opening ceremony – the Olympics still bring the magic. And in the dog days of summer, with so much chaos brewing in so many political and cultural corners … well, it is, in fact, a nice way to leave aside the culture war. Case in point: Simone Biles with a calf injury still pulled out an impressive floor routine and vault performance ending the night with a cushy point margin, in front of celebrities and the watching world.

Healthcare 76

Healthcare Legal CPA Tax 76

CPA Practice

JULY 31, 2024

In a letter of support to Congressman Darin LaHood (R-IL), the American Institute of CPAs (AICPA) expressed its endorsement of provisions of H.R. 8864, the Tax Administration Simplification Act, which would apply the mailbox rule to electronically submitted tax returns and payments and would revise the estimated tax payments deadline to fall on a true quarterly interval.

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Tax tax return cpas 90

Accounting Today

JULY 31, 2024

A new survey from ACCA and the IMA reported a sharp decline in economic confidence among accountants and finance professionals in the U.S. and North America, although globally confidence seemed to be increasing.

Finance 72

Finance accounting and finance accountant Account 72

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

Sales

Accounting Insight

JULY 31, 2024

The integration of bots into the accounting profession is revolutionising how accountants operate. Bots can enhance efficiency and accuracy while allowing professionals to focus on higher-value tasks, such as advisory. This is a shift many accounting professionals have been trying to do for years. What are bots? We have heard the term, usually with negative connotations.

Technology 69

Technology accounting software accountant Account 69

Going Concern

JULY 31, 2024

Last week we received a tip that Marcum and CBIZ were “merging.” This seemed highly improbable given Marcum’s recent troubles — large and embarrassing SEC fines , an even larger private equity deal falling apart — but hey, stranger things have happened. So we tweeted it. Completely unsubstantiated rumor of the day: pic.twitter.com/xNiStHwgnB — Going Concern (@going_concern) July 24, 2024 Didn’t hear much on the wire after that except a small handful of p

cpa firm 65

cpa firm accounting firms CPA accountant 65

Accounting Insight

JULY 31, 2024

As your practice evolves—whether you’re just starting out, scaling up, or preparing for an exit—the challenges of servicing clients and managing your practice remain ever-present, even as the role of accountants continually changes. For nearly a decade, Elite Business and it’s partners have been working with accountants to introduce innovative technology, develop profitable service lines, and transform practices to better meet client needs.

Technology 64

Technology accountant Account accounted 64

Accounting Today

JULY 31, 2024

In an interview with Blake Oliver, former Baker Tilly CEO Alan Whitman shares the key elements for positioning your firm for future success.

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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.

Xero

JULY 31, 2024

“The whole point of Building Up is to connect people with barriers to employment to careers in construction,” explained Marc Soberano, founder of non-profit project Building Up. “We help people break the cycle of poverty and make a life for themselves.” Building Up was one of the 2023 recipients of funding from the Xero Beautiful Business Fund , winning the ‘Strengthening Community Connection’ for their inspiring community building work as a non-profit social contractor.

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Construction Non-Profits Finance 61

Accounting Insight

JULY 31, 2024

We’re looking at how artificial intelligence can help teams detect and prevent fraud. Understanding the problem Fraud is a growing problem. More than half (51%) of surveyed businesses experienced fraud in 2022, and cybercriminals are using increasingly sophisticated techniques to evade detection — sometimes, even utilising artificial intelligence themselves.

accounts payable 59

accounts payable accountant Account accounted 59

Accounting Today

JULY 31, 2024

Survey respondents shared with the good, the bad, and their advice for navigating the accounting profession.

accountant 78

accountant Account accounted 78

Anders CPA

JULY 31, 2024

“I want to grow a bazillion dollars next year.” My favorite flavor of pie in the sky is when a business owner throws out a random number for next year’s growth. They think that by putting pen to paper, they’re one step away from success. But there are so many questions to answer before you even get to the point where you know if that goal is realistic – and whether you can hope to maintain profitability while achieving it.

Sales 52

Sales financial statements CPA 52

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.

Accounting Today

JULY 31, 2024

Net at Work has sold Pixafy to India-based Kensium in exchange for the company's Acumatica practice.

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Insightful Accountant

JULY 31, 2024

Federal law changes this year have shed new light on employee and contractor classifications. This guide provides an overview of key considerations for determining whether remote workers should be classified as employees or independent contractors.

Tax 52

Tax 52

Ryan Lazanis

JULY 31, 2024

Sometimes clients get upset at having to pay high prices for complex tasks like backlog cleanups. In this episode, I […] The post The Pricing Trick to Avoid Price Disagreements appeared first on Future Firm.

accountant 52

accountant accounted Account 52

CPA Practice

JULY 31, 2024

Pending home sales in June ascended 4.8%, according to the National Association of REALTORS. All four U.S. regions posted monthly gains in transactions. Year-over-year, the Northeast, Midwest and South registered declines, while the West increased. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – grew to 74.3 in June.

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Sales 52

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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.