Wed.Feb 28, 2024

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Client Accounting Services to Help Drive Your Business

AccountingDepartment

When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.

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Burkland Expands Services for Clean Energy Startups

BurklandAssociates

New specialty consulting area provides accounting expertise and financial guidance tailored to the needs of Clean Energy startups. The post Burkland Expands Services for Clean Energy Startups appeared first on Burkland.

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R&D expensing gets another chance

Accounting Today

The ability to write off research and development expenses in the first year would be revived if the Senate ever manages to pass the Tax Relief for American Families and Workers Act.

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‘Where’s My Refund’ Tool Gets Updates – How to Estimate Your 2024 Income Tax Refund Date

CPA Practice

Updated: Feb. 28, 2024. The IRS started accepting and processing income tax returns on January 29, 2024. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund. “ When will I get my tax refund?

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

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.

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Accelerate Business with Salesforce Solutions Powered by Generative AI

Cherry Bekaert

According to a 2023 Salesforce survey , 61% of 2,000 respondents believe that generative AI will help them better serve their customers. Additionally, 61% of the respondents believe that generative AI will help them sell efficiently. Yet, many organizations don’t understand the technology or how to get started with generative AI, which can generate text, images or other data using generative models.

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It’s Time to Rethink Current Practices for CPA Firm Talent Management

CPA Practice

Here’s some news from the labor market that’s both good and bad for CPA firm leaders and other employers of accounting and finance talent. A Robert Half survey found that only 27% of workers in the profession are planning to look for a new job in the next six months. In a similar survey our company conducted in mid-2023, that figure was significantly higher — 41%.

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RightNow Conference 2024

CPA Practice

Top influencer keynotes, transformative tech insights and AI innovators converge to elevate the accounting profession at RightNOW 2024. May 14-16, 2024 | Austin, TX – Register Rightworks will set the stage for accounting and tax professionals to learn actionable insights, innovative strategies and best practices that modernize firm operations and fuel thriving businesses at RightNOW 2024.

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SEC upped accounting, auditing enforcement in FY 2023

Accounting Today

The 83 publicly disclosed accounting and auditing enforcement actions represented the highest number of actions initiated since FY 2019.

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Spotlighting Women in Advisory Practice: “Create a culture where everyone is happy,” says Alicia Shaul, CPA firm entrepreneur

ThomsonReuters

Alicia Shaul ’s path to accounting was less than traditional. As an undergrad, she majored in political science and pre-law. She decided to skip law school and instead took a job as a bookkeeper, finding her chosen profession and going back to school to earn her CPA. Once, one of Shaul’s professors spoke about the importance of business development, saying that if you ever want to become a partner in a firm, you need to become a rainmaker and start bringing in your own work.

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IRS enhances ‘Where’s My Refund?’ tool for 2024 filing season

Insightful Accountant

With millions of tax refunds going out each week, the IRS reminded taxpayers today that recent improvements to “Where's My Refund?” on IRS.gov provide more information and remains the best way to check the status of a refund.

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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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How GenAI will shape the future for our customers

Xero

We shared a number of product and tech updates at Xero’s Investor Day in Melbourne on how we are bringing new capabilities to help Xero customers run their operations and manage their finances more efficiently. However, with Generative AI (GenAI) being one of the more recent exciting and emerging technology developments, it was one of the big areas we wanted to share more detail around how we are approaching it and how we see it impacting accounting in the future.

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The Future of Financial Management in Engineering Firms

GrowthForceBlog

7 min read In industries like engineering, technology has taken over - from the early days of computer-aided design and computer-aided manufacturing that helped engineers and clients conceptualize design to the implementation of augmented reality and virtual reality modules that enable engineers and clients to be immersed in design concepts in addition to revolutionary concepts within Industry 4.0 like artificial intelligence and the Internet of Things (IoT) that will supercharge automation.

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Thomson Reuters' Acquisition of Pagero Opens Doors for Growth Opportunities

Insightful Accountant

Accelerating the companies’ joint vision for a connected suite of e-invoicing and indirect tax solutions for customers across the globe.

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PCAOB dings EY and other big firms on latest inspections

Accounting Today

Ernst & Young issued a major mea culpa following a failed split of the firm.

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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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Randy Crabtree on Unlocking Success: The Expert's Guide to Thriving in Tax Season

Insightful Accountant

In a dynamic conversation, Gary and Randy explore ways for tax professionals to expand their business leveraging the U.S. Tax Code.

Tax 105
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2024: The year of change management

Accounting Today

Start by identifying the why, who and how to make the most of every change.

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How Veterans Are Becoming Warrior Strong

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post How Veterans Are Becoming Warrior Strong appeared first on Withum.

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‘PCAOB-Registered Firm’ Doesn’t Mean S**t, Says PCAOB

Going Concern

Pictured: Seal of approval The Public Company Accounting Oversight Board has issued yet another proposal and at least this time it is a refreshing break from the usual extra work they love piling on already overworked auditors. Rule 2400, False or Misleading Statements Concerning PCAOB Registration and Oversight would, according to the PCAOB , “enhance public understanding and investor protection by establishing new restrictions on statements auditors can make concerning a firm’s PCAOB reg

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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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PCAOB Registration Isn’t a Seal of Approval, Regulator Tells Audit Firms

CPA Practice

A new rule proposed by the Public Company Accounting Oversight Board (PCAOB) on Tuesday would prohibit audit firms from making false or misleading statements regarding their registration status with the regulator to clients and potential clients. Under the Sarbanes-Oxley Act, public accounting firms must register with the PCAOB before they can prepare or issue an audit report for a public company or a broker-dealer.

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The Nuances of Sales Tax Holidays For Skagit County Business Owners

SkagitCountyTaxServices

Firstly — a quick reminder for those of you working under a corporate status: we gotta file those returns for you by March 15th — so help us help you. Send us anything we’ve been asking for … today? ? Second — there are less than 30 days before the ERC withdrawal deadline ( March 22 ) is here. If you fell victim to the ERC mills and submitted a claim you shouldn’t have, there’s still time to fix that decision.

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IRS hires former Binance.US exec to beef up crypto expertise

Accounting Today

The tax authority is drafting final regulations that would require crypto brokers, including exchanges, to report detailed information on their clients' transactions.

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List of the Day: People Who Don’t Work at Deloitte Rank It As a Best Place to Work

Going Concern

Deloitte has another award to add to its large trophy case: At Deloitte US, we are a workplace for all. Incredibly proud to announce that we have been recognized as the Top Employer by CAREERS & the disABLED magazine! #BestWorkplaces [link] pic.twitter.com/djl6mJZQTD — Deloitte US (@DeloitteUS) February 18, 2024 It took some real digging to even find this magazine — there’s no direct link to it on Deloitte’s Awards and Recognitions page — but we did it.

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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.

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What is the Difference Between Bookkeeping, Accounting, and the Role of the CFO?

Basis 365

Every business has the need for “accounting”. You’d think every business would then need accountants to help them out. If that’s the case, why are there bookkeepers and what do that do that an accountant does not? What about a CFO, are they an accountant? You’re not alone in understanding the differences as there isn’t really a common definition that everyone uses.

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EisnerAmper Offers Free Cybersecurity eBook

CPA Practice

Did you know that the average cost of a cyber breach last year was $4.45 million? And that number will only increase. If that isn’t scary enough, the bad actors are getting more sophisticated every day. Cyberattacks are a daily threat to any organization and can result in compromised data, damaged client relationships, financial cost, litigation, reputational harm and more.

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Liz Scott on Tech Selection: Empowering Accountants as Tech Advisors

Canopy Accounting

In this episode of Canopy's Practice Success podcast, Liz Scott discusses the critical aspects of technology in accounting. She draws an analogy between selecting tech apps and shopping for shoes to emphasize the need for careful selection to ensure they meet the firm's needs. The conversation covers the evolving role of accountants as technology advisors and the significance of managing a tech stack effectively.

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Sage Partners with AWS to Enable AI-Powered Solutions for Small and Mid-Sized Businesses

CPA Practice

Sage , a provider of accounting, financial, HR and payroll technology for small and mid-sized businesses, has signed a strategic collaboration agreement with Amazon Web Services. This agreement will significantly enhance how SMBs optimize their operations with generative artificial intelligence and tackle environmental responsibilities, with Sage Earth now available in AWS Marketplace.

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Solve Your Firm's Automation Complexities Once and For All

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.

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New partnership to bring bill pay capabilities to US customers

Xero

Paying bills and getting paid on time are critical requirements for small businesses to effectively manage cash flow. However, this is still a very manual process for small businesses. Our Money Matters report found many small businesses utilize multiple payment strategies to manage their cash flow. To tackle this problem, we have announced a new partnership with BILL , a leading financial operations platform for small and midsize businesses (SMBs), to bring bill pay capabilities to our US custo

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SEC Upped the Ante on Enforcement for Accounting and Auditing in FY 2023

CPA Practice

A new report released on Wednesday reveals that the Securities and Exchange Commission (SEC) increased accounting and auditing enforcement actions by 22% last year, but monetary settlements dropped for a second straight year. The report, SEC Accounting and Auditing Enforcement Activity—Year in Review: FY 2023 , from Cornerstone Research found that the SEC publicly disclosed 83 accounting and auditing enforcement actions in fiscal year 2023, up from 68 in FY 2022 and the highest number of action

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Zoho dives into practice management

Accounting Today

The software vendor's recently released Zoho Practice aims to help small and midsized practices run themselves better.

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EY Gave a Hilarious Excuse For Walking Away From This Awful Municipal Audit Client

Going Concern

Across the pond, EY is earning headlines for its abandoning the Wokingham Borough Council, a government locale in the southeast of England with a population of 177,500, after barely completing an audit for 2020/21. Bracknell News : Accountancy firm EY is responsible for carrying out the council’s annual external audits – examinations of its finances.

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It Takes Two to Tango

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.