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Accurate accounting is at the heart of business success. Whether you're a budding startup or a seasoned enterprise, effective financial management significantly impacts your ability to make informed decisions, strategize for growth, and comply with regulatory requirements.
By Tod McDonald, CPA, CIRA. Fraud thrives on obfuscation. For decades, criminals have been exploiting the massive volume and complexity of financial data to steal and hide money. Accountants, comptrollers, auditors and investigators cannot review every movement of every penny across thousands of transactions and countless accounts. As a result, fraudsters can get away with even the simplest schemes.
The Internal Revenue Service and the Treasury Department issued proposed regulations Thursday offering guidance on the Corporate Alternative Minimum Tax.
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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.
The AICPA and the National Association of State Boards of Accountancy (NASBA) said on Thursday they are asking the public for feedback on a proposed new option for CPA candidates to meet their initial licensure requirements. The CPA Competency-Based Experience Pathway would provide an additional way for candidates to demonstrate their professional and technical skills after earning a bachelor’s degree and meeting their state’s requirements for accounting and business courses.
The Internal Revenue Service has issued proposed regulations to provide guidance on the Corporate Alternative Minimum Tax (CAMT). The Inflation Reduction Act created the CAMT, which imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years beginning after Dec. 31, 2022. The CAMT generally applies to large corporations with an average annual AFSI exceeding $1 billion.
The Internal Revenue Service has issued proposed regulations to provide guidance on the Corporate Alternative Minimum Tax (CAMT). The Inflation Reduction Act created the CAMT, which imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years beginning after Dec. 31, 2022. The CAMT generally applies to large corporations with an average annual AFSI exceeding $1 billion.
COLUMBIA, Md. – September 12, 2024 – Accounting Seed , a leading cloud-based accounting platform built on Salesforce, proudly announces its sponsorship of Dreamforce 2024. This prestigious event sponsorship comes on the heels of several significant product advancements for the company, including the launch of AP Automation , AR Automation and Multi-book Accounting.
It’s truly a mystery why this is happening. The post Can Anyone Help This Eager Applicant Figure Out Why They Can’t Get an Interview at Deloitte? appeared first on Going Concern.
AICPA News is a round-up of recent announcements from the American Institute of CPAs. AICPA Submits Comments on Domestic Content Bonus Credit Requirements The American Institute of CPAs (AICPA) recently 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.
This is the final blog post in our metrics series, and with pipeline, it’s definitely a “last but not least” situation. In a professional service firm, clients are your lifeblood – and part of building a mature practice includes ensuring that there’s a steady flow of prospects moving through the pipeline, ready to turn into clients in the weeks, months and years to come.
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
Professionals on the Move is a highlight of recent staffing and promotion announcements from around the profession. James Burke Joins Herbein + Company, Inc.’s HR Consulting Practice Award-winning CPA advisory firm Herbein + Company, Inc. recently announced James Burke has joined the firm as a Senior HR Consultant in its HR consulting practice. In his new role, Burke will be instrumental in identifying and engaging potential clients, nurturing relationships—particularly in the financial service
8 min read September 12th, 2024 This year, the Baby Boomer generation is hitting what's being called "peak 65." This means that more people than ever before are reaching retirement age with over 11,200 Americans turning 65 every day in 2024. Baby Boomers are currently the CEOs of about 75% of all Fortune 500 companies, and according to the Exit Planning Institute's 2023 National State of Owner Readiness Report, Baby Boomers own 51% of businesses in the United States.
Global economic uncertainty is positively impacting how B2B order-to-cash processes are viewed by finance leaders, and generative artificial intelligence (AI) is optimistically viewed by a majority of CFOs as having a major impact on day-to-day financial activities, according to a new IDC InfoBrief study* commissioned by B2B order-to-cash software and digital payments market leader, Billtrust.
Do you know how to price your bookkeeping services? This guide helps you find the sweet spot to grow your business and please clients. The post How Much To Charge For Bookkeeping Services (Complete Guide) appeared first on Future Firm.
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.
PwC is trimming approximately 2.5% of its U.S. workforce—roughly 1,800 employees—primarily in the Big Four firm’s advisory practice and products and technology operations, the Wall Street Journal reported on Sept. 11. The layoffs, about half of which are offshore, impact employees ranging from associates to managing directors and include business services, audit, and tax, the WSJ reported.
In today’s rapidly evolving accounting landscape, embracing cloud technology is no longer optional – it’s essential. But for many small firms, navigating the sea of available solutions can be overwhelming. That’s where Xero ambassadors like Scope Solutions come in, bridging the gap between cutting-edge technology and practical implementation.
Menzies LLP - A leading chartered accountancy firm. A significant legal update has been introduced in Parliament, which will bring greater clarity and protection for owners of Bitcoin and other digital assets. The Property (Digital Assets etc) Bill, unveiled on 11 September 2024, seeks to recognise digital holdings, including cryptocurrencies, non-fungible tokens (NFTs), and carbon credits, as personal property under English and Welsh law.
It’s an employers’ market, with the number of job applications growing four times faster than job openings. Despite these odds, top performing employees are quitting their jobs to look for better opportunities elsewhere. That’s according to the new semi-annual Global Workforce Report from Workday, Inc. At the same time, organizations are turning to AI to transform how they find and keep their best people.
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?
The Tax Cuts and Jobs Act (TCJA), enacted on December 22, 2017, indeed stands as one of the most significant overhauls of the U.S. tax code in the last 30+ years. Many of the tax changes in the 2017 TCJA, however, may not be here to stay and are scheduled to sunset between 2025 and 2028, if not extended by Congress. With this, it is crucial for businesses and individuals to be aware of these upcoming changes and plan accordingly.
Thomson Reuters unveiled its AI-powered Audit Intelligence suite, and its first solution, Audit Intelligence Analyze, to identify anomalies and generate documentation.
Marking its 11th anniversary, the 2024 Georgia Accounting Food Fight has concluded with resounding success, further cementing its commitment to ending hunger across the state. This annual fundraising campaign, a collaborative effort between Feeding Georgia and the Georgia Society of Certified Public Accountants, raised an impressive $347,591.16 — the equivalent of nearly 1.4 million meals.
The House Ways and Means Committee voted to advance a set of five tax-related bills, including one that would eliminate a twice-delayed requirement to report payments of at least $600 received through third-party networks like Venmo.
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.
The pay penalty for teachers—the gap between the weekly wages of teachers and other college graduates—grew to a record 26.6% in 2023, according to a new report from the Economic Policy Institute and the Center for Economic and Policy Research. This relative pay penalty—which is adjusted for education, experience, and demographic characteristics—increased despite a small improvement of 1.7% in teachers’ average weekly wages in 2023, from $1,384 to $1,408.
Whether your firm has a vibrant wealth management division or not is irrelevant when it comes to offering family office services: Consider it outsourced CFO work, except for a family rather than an entity.
The technology industry is one of the most dynamic and ever-changing sectors, with new innovations and advancements being added to the field every day. It should come as no surprise, then, that as a tech company grows, so do its accounting needs. Accounting presides over each growth stage. From the startup to the maturity stage, the need for accurate and timely financial reporting becomes increasingly important.
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!
Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #22480782 Certifications: CPA in process Education: BA Accounting, MS Accounting / Tax
CPA firms are perfectly positioned to provide advisory and assurance services on ESG reporting, given their infrastructure around audit quality, independence requirements, and professional development.
Ever had a question about Reckon? Chances are Rav Singh has an answer for you. Rav moderates the Reckon Community, a forum where members can discuss and discover all things Reckon. This week, we sat down with him to get the inside scoop on what makes the Reckon Community tick. This interview has been edited for clarity 1) To start things off, Rav, what is the Reckon community?
Mario Hernandez, CPA from Miami (Florida, not Oklahoma) submitted two of his migration experiences using just one of our survey forms. maybe you could try submitting three!
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.
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