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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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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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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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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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.

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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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Salary Sacrifice / Salary Exchange

Menzies

Menzies LLP - A leading chartered accountancy firm. One tax rise that Rachel Reeves did warn us of in advance of the budget was an increase in the employer Class 1 national insurance contributions rate. What was not expected was the significant lowering in the threshold at which this becomes payable. In summary, from April 2025 employers must pay national insurance at a rate of 15% (currently 13.8%) on employee earnings in excess of £5,000 (currently, £9,100).

More Trending

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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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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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IRS reforms bring relief, but Trump win clouds future plans

Accounting Today

Donald Trump's re-election brings uncertainty to the tax landscape, including proposals for both numerous tax breaks and funding cuts to the IRS.

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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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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

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

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CONSIDERATIONS FOR LANDLORDS WHEN CUSTOMERS GO INSOLVENT

Menzies

Menzies LLP - A leading chartered accountancy firm. For landlords, dealing with insolvent tenants can create significant challenges, particularly in the case of corporate tenants. Such tenants can cause disruptions to rental income streams and create uncertainties. As a landlord, understanding your rights and options is crucial to mitigate risks and protect interests.

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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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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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RECOGNISING THE SIGNS OF BUSINESS STRAIN

Menzies

Menzies LLP - A leading chartered accountancy firm. The number of insolvencies in the UK has reached its highest point in 30 years, and experts anticipate that more businesses will shut down due to increasing inflation and persistent supply chain issues. During this time, it is essential to keep track of indications that business customers might be encountering difficulties and act quickly when signs occur that a company may be at risk of shutting down.

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Book of Secrets on the Month-End Close

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.

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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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Monday Morning Accounting News Brief: Way Too Many People Working on Vacation; PKF Does a PE Deal | 11.18.24

Going Concern

Morning! Let’s hurry this up so I can get this day over with and get back to playing Cult of the Lamb. Was the mid-tier firm about to announce a private equity deal discussed last week PKF? Because they announced this morning. PKF O’Connor Davies (“PKFOD”) (“the Organization”), one of the nation’s largest accounting, tax and advisory practices, is pleased to announce a strategic growth investment from Investcorp, a leading global alternative investment f

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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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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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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

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?

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THE RESPONSIBILITY OF CREDITORS IN INSOLVENCY PROCEEDINGS

Menzies

Menzies LLP - A leading chartered accountancy firm. Creditors hold a significant role in insolvency proceedings, with considerable influence over the process and its outcomes. Their involvement is essential, not only in protecting their financial interests but also in ensuring that the proceedings are conducted fairly and efficiently. This article explores the rights and strategies of creditors during insolvency and examines how they can sway the outcome of insolvency cases.

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Trump and the GOP won a huge election for taxes. Now for the tricky part

Accounting Today

The numbers are getting murkier, and the politics with a slim majority in the House and the minutiae of Senate reconciliation rules look anything but easy.

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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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Johnson says Congress will 'do the math' on key Trump tax pledge

Accounting Today

House Speaker Mike Johnson said Donald Trump's plan to end income tax on tips would have to be paid for, injecting a note of caution into one of the president-elect's key campaign pledges.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

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.

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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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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.

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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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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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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

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!

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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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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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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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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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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

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.