Mon.Dec 09, 2024

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What Clients Expect From Their Accountants

CPA Practice

A new report reveals a dramatic shift in the expectations that businesses and individuals who use accountants have of those professionals, with findings that highlight the need for seamless technology, proactive communication, and personalized service. The 2024 Client Satisfaction Report , commissioned by accounting technology maker TaxDome , provides invaluable data to help firms adapt to the evolving needs of their clients.

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Art of Accounting: Barry Melancon's parting words about future of small firms

Accounting Today

Barry's presentation at the Accountants Club of America included his thoughts about the future of small practices, which make up about 43,000 of the estimated 44,000 accounting practices in America.

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What’s new in Xero – December 2024

Xero

Welcome to our monthly roundup of what’s new in Xero. This month, we’ve introduced updates designed to help you to get paid faster, streamline tax rules and regulations compliance, and manage your sales tax with ease. With enhancements from the ability to send invoices via SMS to improvements in Xero Tax and sales tax reporting, we continue to make Xero even better.

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Big changes expected at SEC under new chairman

Accounting Today

The nominee for head of the Securities and Exchange Commission, Paul Atkins, will pursue a more deregulatory and crypto-friendly approach than Gary Gensler.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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QuickBooks Desktop Discontinuation Updates: Key Dates and Next Steps for Your Business

Withum

This article has been refreshed to include the latest announcement from Intuit about the discontinuation of support and security updates for QuickBooks Desktop 2022 after May 31, 2025, in addition to the previously announced changes affecting QuickBooks Desktop subscriptions that ended September 30, 2024. Below, we outline what the newest updates mean for your business and the steps you can take to transition smoothly.

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TIGTA helped save $6B, agency says

Accounting Today

The Treasury Inspector General for Tax Administration completed thousand investigations over the past six months that contributed to more than $6.1 billion in tax savings.

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Looking ahead with Barry Melancon

Accounting Today

Longtime AICPA chief Barry Melancon turns his eagle-eye to the future, talking about the challenges and opportunities facing the profession.

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Intuit and Amazon Expand Partnership to Help Small Business Sellers

CPA Practice

Intuit and Amazon have announced a multi-year strategic partnership to empower millions of Amazon sellers to manage their finances, stay compliant, access capital, and grow their business. By leveraging Intuits AI-driven expert platform, millions of Amazon sellers will be able to discover and access Intuits platform seamlessly, benefiting from powerful financial insights like profitability, cash flow, and estimated tax liabilities to fuel their growth.

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Transforming tax operations with strategic alliances: Thomson Reuters and KPMG

ThomsonReuters

Blog home Today, organizations are under increasing pressure to navigate the complexities of global tax regulations, ensure compliance, and optimize workflow processes using the latest advanced technology. Corporate tax leaders across all industries are looking for ways to simplify their tax, trade, and financial reporting workflows with tools that reduce risk, save time, and increase accuracy.

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PCAOB posts 2025 inspection priorities

Accounting Today

The Public Company Accounting Oversight Board will continue its inspection focus on public companies in the financial, real estate and information technology sectors.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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AICPA & CIMA Announce Inaugural Graduates of the Registered Apprenticeship for Business Partner Program

CPA Practice

The AICPA & CIMA , which together form the Association of International Certified Professional Accountants,have announced the inaugural graduates of the Registered Apprenticeship for Finance Business Partner (RAP) program. The two apprenticeship graduates Daniel Grufferman, Global eCommerce controller & Warranty controller with Stanley Black & Decker and Jeffrey Culp, SVP & CFO, Business Transformation Office, Liberty Bank are each established professionals that entered the pro

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Navigating peer reviews and DOL inspections of 401(k) audits

Accounting Today

Knowing how to distinguish between what is required by standards and what is opinion is crucial for auditors to confidently navigate these reviews and inspections.

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Treasury and IRS Offer Guidance on Energy Efficient Home Improvement Credit

CPA Practice

The Department of the Treasury and the Internal Revenue Service have issued Revenue Procedure 2024-31 PDF and proposed regulations to provide guidance for the Energy Efficient Home Improvement Credit. The revenue procedure provides procedures and requirements that a manufacturer of specified property must follow to be treated as a qualified manufacturer.

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The TaxAssist Group earns 2024 Great Place To Work Certification

Accounting Insight

The prestigious award is based entirely on what current employees say about their experience of working at The TaxAssist Group. Following a recent staff survey, The TaxAssist Group is proud to be Certified by Great Place To Work. Great Place To Work is the global authority on workplace culture, employee experience, and the leadership behaviours proven to deliver market-leading revenue, employee retention and increased innovation.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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.

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PCAOB Lays Out 2025 Inspection Priorities

CPA Practice

Staff report Inspectors from the Public Company Accounting Oversight Board (PCAOB) outlined their priorities for 2025 audit inspections in a staff report released on Dec. 9. The report highlights risks and other considerations the staff believes auditors should consider when planning and performing their current and upcoming audits, as well as sectors and industries that PCAOB inspection staff will prioritize.

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Anders Hosts 6th Annual Sip, Savor and Shop Event

Anders CPA

Anders is hosting the firm’s annual Sip, Savor and Shop event. The event features a virtual boutique showcasing firm clients in the retail, entertainment and hospitality industries. In 2024, 26 vendors are participating, helping them access a larger audience during the holiday shopping season. Anders employees are gifted $100 each to encourage them to participate in the event, supporting local businesses and discovering new favorite products from out-of-town sellers.

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What you Need to Know for Tax Season 2025

Canopy Accounting

Canopy's updated guide breaks down every change, update, and addition you will need to know for the 2025 tax season. Download our latest eBook to be the best-equipped tax accountant to help clients this upcoming tax season!

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Eliminating Opportunities For Fraud

FraudFiles

Perpetrators of fraud have plenty of schemes to choose from when cooking up their crimes. The fraud schemes range from petty theft by lower-level employees, all the way up to management cooking up stellar financial statements to dupe investors and lenders. Fraud prevention policies and procedures sometimes have a tendency to focus on the smaller [.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

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PCAOB Publishes Refresher for Auditors on Audit Committee Communications

CPA Practice

Staff report The latest edition of the Public Company Accounting Oversight Board (PCAOB) Audit Focus series provides staff insights for auditors on audit committee communications. The new series of PCAOB staff guidance is intended to provide easy-to-digest information to auditors, especially those who audit smaller public companies. The regulator launched the Audit Focus series last month with critical audit matters as the first topic.

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With mortgage interest deduction up in the air, here's one reform idea

Accounting Today

A refundable tax credit would carry the same budgetary impact but boost homeownership among lower and middle-income households, a new study says.

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Intuit and Amazon Expand Strategic Partnership

Insightful Accountant

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It's time to get your WISP in order

Accounting Today

When you check off "WISP" before the December PTIN renewal deadline, it's critical to make sure your practice complies with the latest changes.

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Back to Basics with Reconciliations

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.

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Third-party Nominations for 2025 ProAdvisor Awards Close Tonight

Insightful Accountant

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IRIS Software Group Announces Intent to Acquire Dext Software Ltd.

Accounting Insight

IRIS Software Group (IRIS), a leading global provider of accountancy, education management, HR and payroll solutions, today announced a definitive agreement to acquire Dext Software Ltd (Dext), a leading bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms Dexts Bookkeeping Automation Platform and IRIS Elements to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses.

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Federal Court Case Could Upend Cannabis Tax Treatment Under 280E

Insightful Accountant

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Is It Time to Update your Articles of Association?

Menzies

Menzies LLP - A leading chartered accountancy firm. The question every director needs to ask is are our companys Articles of Association still fit for purpose? A private company limited by shares must be incorporated with articles of association, which are the companys constitutional document, the Bible of the company, setting out the management and administrative conditions which the directors must follow when making decisions on behalf of the company, in relation to the quorum required, board

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

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

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Murph's Payroll App Comparison is This Thursday, December 12th

Insightful Accountant

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Canada pressured to respond to Trump's tax cut regime

Accounting Today

Donald Trump's planned tax cuts would wipe out Canada's slim corporate tax advantage, likely driving more capital from the northern nation.

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Workforce Planning Templates: How to Jumpstart Your Talent Strategy

Acterys

Workforce planning is a crucial part of ensuring that your business has the right people, with the right skills, at the right time. As businesses grow and evolve, workforce needs change, and planning ahead becomes key to navigating challenges. But with so much workforce data living in so many places, pulling the right information together can be a challenge.

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8 Key elements of a business plan you need to know

Wellers Accounting

How to put together and get your business ideas on paper effectively with these 8 key elements of a business plan.

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Harness the Potential of Your Enterprise Knowledge

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.