Fri.Feb 14, 2025

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Gen Z is here. Is your firm recruiting them effectively?

Accounting Today

Firms must stay on top of their tech game to attract younger candidates and consistently invest in tools and technology to make their lives easier.

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Ryan Kelly Honored With FICPA’s Horizon Award

Withum

Withum is proud to share that Ryan Kelly , CPA has been recognized by the Florida Institute of CPAs with a prestigious Horizon award. Ryan, an audit manager in our Orlando office , serves privately owned and publicly traded clients in the Professional Services , Manufacturing, Distribution and Logistics industries. A University of Scranton graduate, Ryan is an active member of the AICPA, FICPA and PICPA.

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House committee advances IRS legislation

Accounting Today

The House Ways and Means Committee passed a set of bipartisan bills aimed at improving tax filing and administration at the Internal Revenue Service.

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AICPA Recommends Scaling Back Section 199A QBI Deduction Limitation

CPA Practice

Section 199A generally allows owners of pass-through entities to deduct 20 percent of the owners QBI earned in a qualified trade or business.

Tax 107
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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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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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Bookkeeper, financial analyst among top in-demand jobs

Accounting Today

Bookkeepers and financial analysts are among the U.S.'s top 15 most in-demand jobs for 2025, according to staffing agency Randstad.

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Average 2025 Tax Refunds Up by More Than $300, IRS Says

CPA Practice

Data released on Feb. 14 by theIRSshows the average refund is coming in at $2.065, up from $1,741 in 2024.

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AICPA Highlights Key Concerns for Individuals to Keep in Mind During 2024 Tax Season

CPA Practice

As taxpayers navigate the challenges of tax season, the American Institute of CPAs (AICPA) is identifying areas individual filers to be aware of for this filing season.

Tax 101
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PCAOB quizzes auditors on new quality control standard

Accounting Today

The Public Company Accounting Oversight Board has posted a series of online "knowledge checks," or multiple-choice questions, to help auditors gauge their understanding of various aspects of the PCAOB's new quality control standard.

auditor 101
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AICPA, NASBA Share Plans for Additional Pathway to CPA Licensure

CPA Practice

The American Institute of CPAs and the National Association of State Boards of Accountancy are advancing proposed changes to the Uniform Accountancy Act that would clear the way for states to adopt an additional path to CPA licensure while also adjusting practice mobility requirements.

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On the move: FICPA graduates 23 from Leadership Academy

Accounting Today

American Accounting Association inducts four to its Hall of Fame; Armanino launches professional services industry group; and more news from across the profession.

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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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Bank Statements in a Divorce

FraudFiles

When there are suspicions of hidden income or secret investments or bank accounts, an analysis of known bank accounts can reveal helpful details. Tracy Coenen explains how bank statements and credit card statements can be used by a forensic accountant in a divorce or child support case.

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Tech news: Bill introduces Divvy Reserve Card

Accounting Today

Plus, KPMG announces KPMG Velocity business transformation suite; Sovos achieves full SAP certification on suite; and other accounting tech news and updates.

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Valuation Beyond Numbers: Enhancing Your Construction Business Worth

Randal DeHart

When valuing a business, most people think straightforwardly about profits. While financial success is undoubtedly critical, it's far from the only factor determining a business's actual worth. Understanding valuation complexities can offer small business owners and entrepreneurs a clear roadmap for sustainable growth and long-term success. While financial metrics are undoubtedly important, they do not provide a complete picture of a construction company's worth.

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DOL Clarifies Cybersecurity Obligations to Health Plans: What Plan Sponsors Need to Know

Withum

The history of cybercrime provides a stark reminder of how rapidly technology evolves and how vulnerabilities can be exploited by bad actors. Over the decades, cyberattacks have grown in scale and sophistication mirroring the evolution of technology. From Early Cybercrime to Modern Cybersecurity Obligations While technology allows users to perform many tasks more efficiently, it has also allowed bad actors to take advantage of vulnerabilities for financial gain.

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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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Pussies at the PCAOB Have Backed Down on Firm Metrics Rules

Going Concern

In November, the PCAOB approved new rules that would require firms to report various metrics : Partner and Manager Involvement, Workload, Training Hours for Audit Personnel, Experience of Audit Personnel, Industry Experience, Retention of Audit Personnel (firm-level only), Allocation of Audit Hours, and Restatement History (firm-level only). As anyone familiar with the inner workings of public accounting could have predicted, the firms were not thrilled with the idea and said as much in public c

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Data highlights worrying cyber security trends in the accountancy sector

Accounting Insight

Accountancy firms have good reason to ensure they are reviewing and mitigating cyber security risks in their practices. They are prime targets for cyber criminals, in part due to the valuable financial data they hold on other companies and the significant payments they make on behalf of clients, for example, for payroll activities. The amount of information in the public domain on their business, such as meet the team pages on their website, also provides valuable assets to help cyber criminals

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Trump widens trade fight to include global taxes, regulation

Accounting Today

Trump ordered top economic officials to calculate U.S. tariffs based on the total tariffs and tax, regulatory, currency and any other barriers exports face.

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Yooz and Touchstone FMS Partner to drive financial management efficiency

Accounting Insight

Yooz , a global leader in cloud-based Accounts Payable (AP) automation solutions announces a strategic partnership with Touchstone FMS , a leading provider of financial management software solution, Infor SunSystems. UK businesses face increasing economic pressures, evolving regulatory requirements and the challenge of maximising value with dwindling resources, meaning AP automation has become a necessity, not a luxury.

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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 Significance of Valuations for Insolvency Practitioners

Menzies

Menzies LLP - A leading chartered accountancy firm. The Strategic Importance of Valuations in Insolvency Cases As Insolvency Practitioners, we navigate complex financial landscapes to manage distressed businesses and protect the interests of creditors. In this challenging role, accurate valuations play a pivotal role in guiding our decision-making processes.

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Friday Footnotes: Stop Saying There’s a Shortage and Just Admit You’re Cheap, Firms; DOGE Hits the IRS; AICPA Caves on 150 | 2.14.25

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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common issues when considering the value of a trading business in an insolvency situation

Menzies

Menzies LLP - A leading chartered accountancy firm. Business Valuation vs Share Valuation In recent matters we have been involved in, the issue of business valuation versus share valuation has been a key issue. This is likely to be pertinent when seeking investment in a fledgling company at the early stage of trading or one in distress and contemplating restructuring or entering an insolvency process.

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Senators say Bessent misled them on DOGE's Treasury access

Accounting Today

Senate Democrats criticized Treasury Secretary Scott Bessent for what they call a "lack of candor" about what DOGE workers are doing with U.S. payment systems.

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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.