Mon.Nov 18, 2024

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4 Key Challenges of Accounting for AI Startups

BurklandAssociates

Learn about the unique challenges of accounting for AI startups, from revenue recognition to validating expenses for R&D tax credit and VC investment. The post 4 Key Challenges of Accounting for AI Startups appeared first on Burkland.

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IRS Cuts Tax Interest Rates For Q1 of 2025

CPA Practice

For the first time since 2020, interest rates for tax overpayments and underpayments will be lower than the previous quarter, starting in January. The IRS announced on Monday that interest rates will decrease by a percentage point across the board for the calendar quarter beginning Jan. 1, 2025. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily.

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Trending Sources

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Audit committees boost cyber, ESG expertise

Accounting Today

Audit committees are bringing on more directors with experience in cybersecurity and sustainability, according to a new survey.

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Survey Shows CEOs Optimistic on Economy

CPA Practice

Middle market companies are confident in their ability to navigate inflation and a potential recession, according to a survey by Moss Adams , one of the largest accounting, consulting and wealth management firms in the nation. The survey shows that while most US CEOs and owners of mid-market companies are preparing for a potential economic decline—64 percent believe a recession is imminent and 88 percent are concerned with inflation—97 percent are confident in their ability to navigate inflation

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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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What do you REALLY need to promote as an accountant?

Mark Lee

What do you really need to promote as an accountant? This is a simple enough question, and knowing the right answer could make a profound difference to the success of your practice. Let’s start with what you’re NOT promoting. Your time. It’s less common today than it was, but still there are plenty of people, including some accountants, who think accountants are selling their time.

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AICPA-NASBA expand access to Experience, Learn & Earn Program

Accounting Today

The Experience, Learn & Earn program now allows accounting graduates who are unaffiliated with a participating firm or employer to sign up, as long as they are employed full time.

More Trending

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Gen AI speeds software development, heats up competition

Accounting Today

Accounting software development cycles will accelerate with generative AI, but so will competitive pressures.

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Streamline tax time: Xero now supports partnership tax in the UK

Xero

We’re excited to announce that partnership tax has arrived in Xero Tax. You can now manage most of your clients’ tax needs – corporate, personal, and ordinary partnerships – in one simple, secure platform. No more juggling multiple tools or battling complicated software. By managing partnership tax in Xero, you can remove some of the stress around tax time for your practice and your clients.

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Building a better sales pipeline

Accounting Today

As firms grow, they need to move their sales pipeline from inside their head into a more formal process, says Sarah Dobek of Inovautus Consulting.

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A Guide to Fixed Monthly Accounting Pricing Models

Basis 365

As businesses grow, so do their accounting needs. Many companies struggle with balancing quality financial management with affordable costs, especially when faced with various pricing models for accounting services. Among these options, the fixed monthly accounting pricing model has emerged as a favorite for businesses that want predictable costs, scalability, and the best outsourced accounting services.

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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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Thomson Reuters Announces Partnership with Oracle

Insightful Accountant

Thomson Reuters has announced a partnership with Oracle which will turnkey integration with ONESOURCE Pagero and Oracle Cloud Enterprise Resource Planning, effectively transforming e-invoicing processes.

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How Paid Search Marketing Can Transform Your Bottom Line

Summit CPA

As digital marketing techniques continue evolving, many small to mid-sized businesses need help to keep up. With the rise of social media, influencer marketing, and content marketing , trying to determine the best way to market your business can feel overwhelming. Fortunately, there are some tried and true digital marketing methods that you can leverage with a little help.

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Nomination Period Extended for 2025 ProAdvisor Awards

Insightful Accountant

Insightful Accountant is extending the 2025 ProAdvisor Award Nomination Deadline by three weeks until December 10, 2024. This extension applies for both the U.S. and International ProAdvisor communities.

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Voters Deliver Mixed Verdicts on Increasing Minimum Wage But Back Paid Sick Leave

CPA Practice

By Elaine S. Povich Stateline.org (TNS) Voters in two red states agreed to increase their minimum wage in steps to $15 an hour and to require employers to give workers paid sick time, and a third red state also approved sick leave. But a proposed $18-an-hour base wage in California failed, as did initiatives in two states to change the hourly rate for workers who earn tips.

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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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IRS Proposal to Slash Third-Party Notice Period Draws Criticism

Insightful Accountant

In a move that could significantly affect how tax practitioners manage IRS information requests, National Taxpayer Advocate Erin Collins has voiced strong opposition to proposed IRS regulations.

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CPE Webinar: Top 10 Payroll Tasks to Prepare for Year-End

CPA Practice

Free webinar offering 1 CPE credit for participating in Patriot Software’s live webinar on December 4, 2024, at 2:00 p.m. (ET). Receive 1 hour of free CPE credit for participating in this live webinar Date: December 4, 2024 Time: 2:00 p.m. (ET) Host: Patriot Software, accounting and payroll software for businesses and accountants Duration: 1 hour Description: Get organized now for a hassle-free year-end with Patriot Software’s Training Director, Annie Hambach.

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From Training to Profit: Equipping Accountants to Deliver Game-Changing Client Education

Insightful Accountant

Training has emerged as an effective and a least costly client acquisition strategy for accountants. Beyond attracting new clients or moving clients further into your services funnel, it can also stand alone as a lucrative revenue stream.

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PKF O’Connor Davies to Get Outside Capital From Investcorp, PSP Investments

CPA Practice

PKF O’Connor Davies is getting an infusion of capital from Bahrain-based private equity group Investcorp and the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, the Harrison, NY-based top 30 accounting firm said on Nov. 18. Financial terms of the deal weren’t disclosed. PKF O’Connor Davies said in a media release that the transaction has received regulatory approval and is subject to other standard closing conditions.

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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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Transforming Accounting Workflows: Tommy Tsai on Coefficient's AI-Driven Spreadsheet Tools

Insightful Accountant

Join Gary DeHart as he interviews Tommy Tsai of Coefficient, to explore how spreadsheets are evolving with modern technology. Tommy shares his journey in startups and software engineering before discussing Coefficient's innovative features.

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Indiana CPA Society Announces 2024 Award Finalists

CPA Practice

The Indiana CPA Society (INCPAS) has announced the finalists for the 2024 INCPAS Awards honoring outstanding CPAs and related professionals in Indiana. All finalists and honorees are chosen by the INCPAS Awards Committee comprised of members of the Board of Directors. This year’s winners will be announced at the annual INCPAS CPA Celebration on November 22 at The Crane Bay Event Center.

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The Young CPA Success Show: Mastering Your Niche in the Accounting World

Anders CPA

John Scott, Virtual CFO and Partner at Anders CPAs + Advisors, joins Hannah and Joey to discuss strategies for young accounting professionals to establish themselves as subject matter experts within their firms. They emphasize the importance of demonstrating interest in a niche, seeking mentorship, and mastering effective communication. Key takeaways include building strong client relationships, asking questions, and learning from mistakes.

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AICPA & CIMA Recognized as an Apprenticeship Ambassador by the U.S. Department of Labor

CPA Practice

The AICPA & CIMA , which together form the Association of International Certified Professional Accountants, has been recognized by the U.S. Department of Labor’s (DOL) Office of Apprenticeship as an Apprenticeship Ambassador. The Apprenticeship Ambassador Initiative creates a national network of employers, labor organizations, industry associations, program sponsors, educators, workforce intermediaries, minority-serving institutions, community-based organizations, and other stakeholders to

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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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Art of Accounting: 11th anniversary of weekly quick fixes

Accounting Today

Accountants and advisors do not live in a vacuum or are not cordoned off in a silo but are subjected to everything going on in the real world and in business and serving the needs of our clients.

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CRI Goes Down the Private Equity Path For Growth

CPA Practice

On the same day top 30 accounting firm PKF O’Connor Davies announced it was receiving an outside infusion of capital , Enterprise, AL-based top 25 firm Carr, Riggs & Ingram (CRI) announced on Monday that it has wrapped up a private equity deal with private investment management firm Centerbridge Partners and venture capital firm Bessemer Venture Partners.

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FAQs On GST Amnesty Scheme for Demand Issued u/s 73 for FY 2017-18 to 2019-20

VJM Global

Considering the importance of the Amnesty scheme for taxpayers and the doubt taxpayers are having in their minds, The CBIC has issued the following detailed Frequently asked Questions with respect to applications to be filed under Section 128A vide Circular No. 238/32/2024-GST dated 15.10.2024. FAQs On GST Amnesty Scheme for Demand Issued 1. Whether the benefit under Section 128A shall be available to taxpayers who have paid the tax component in full before the effective date of Section 128A?

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What Does Fixed Assets Software Do?

CPA Practice

By Evan Croen Managing fixed assets data still represents significant challenges for tax professionals. Getting your fixed assets management wrong can lead to costly inefficiencies, longer quarterly and year-end closings, and poor internal controls that can cause material weaknesses and audit risks. But getting it right can lead to valuable tax savings opportunities, new efficiencies, and improved bottom lines.

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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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CRI and PKFOD receive outside investment

Accounting Today

Carr, Riggs & Ingram and PKF O'Connor Davies separately announced they scored funding from investment firms.

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Expert Witness: Starting a Case

FraudFiles

Tracy Coenen talks about the steps she takes when she starts a new expert witness case. What documents should you ask for? What should you evaluate first?

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M&A roundup: Aprio, Opsahl Dawson and Doeren Mayhew expand

Accounting Today

Aprio acquires Kirsch Kohn Bridge; Opsahl Dawson adds Hauser Jones & Sas; and Doeren Mayhew acquires BHT&D CPAs.

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Withum Launches Dedicated AI Services Website

Insightful Accountant

Comprehensive resource withum.ai to help businesses navigate artificial intelligence space.

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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.