Mon.Mar 25, 2024

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Art of Accounting: Taking your practice to next level

Accounting Today

Growing a firm is difficult, but not growing it could be more difficult.

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How Law Firms Can Get Started with Cash Flow Management

Anders CPA

Cash flow management is a lot like a road trip: If you want to know the answer to, ‘Are we there yet?’ you need to start with a destination in mind. In cash flow management , we call that a target, and it generally needs to be somewhere between 10-30% of annual revenue, depending on the size and type of your law practice and the length of your cash cycle.

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IRS encounters Form 1065 processing glitches

Accounting Today

The Internal Revenue Service has posted new information about how to handle possible processing errors when electronically filing Form 1065, "Return of Partnership Income," and ways to avoid them.

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Monday Morning Accounting News Brief: Consulting Really Sucks Right Now; Inside a PwC Leadership Race | 3.25.24

Going Concern

Hey. Hope everyone is well and ready to tackle another week. I’m in gardening mode so I’ll be unusually happy for at least the short-term until my petunias start dying off or something. Now’s the time to ask me for favors. I might even answer some of the millions of idiotic press releases I get in my inbox. ICYMI: Last weekend’s discussion item: Does leadership even know what gen AI is?

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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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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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AI accounting startup raises $100M

Accounting Today

The Series C round was led by the Israel-based Key1 Capital fund and joined by Euclidean Capital, with funds managed by Hamilton Lane.

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Calculating Your ROI Per Employee

Insightful Accountant

The changing landscape in the tax industry means firms are facing changes at a faster pace than ever. In addition to rapid technology changes, staffing challenges are prevalent and clients are demanding more value-added services than ever.

Tax 104

More Trending

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Navigating the American Rescue Plan Act: Understanding the Obligation Interim Final Rule

Cherry Bekaert

The American Rescue Plan Act (ARPA) was enabled on March 11, 2021. Shortly after the act was signed into law, the State and Local Fiscal Recovery Fund (SLFRF) program was created to provide state and local governments with the rules and regulations related to the funding. In November 2023, the U.S. Treasury released the Obligation Interim Final Rule (IFR) to aid state and local governments in compliance with the ARPA obligations requirements.

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The changing of the guard

Accounting Today

Bob Lewis and Doug Lewis of the Visionary Group dive into how best to navigate the generational shifts in approach to a host of issues in accounting.

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How to Onboard Clients the Right Way

CPA Practice

By John Graziano, CPA, PFS, CFP®. Landing a new client is exciting for any firm, but before solidifying your working relationship, it’s important to go through the onboarding process. Onboarding is a simple and effective way to ensure everyone understands how the relationship will work and what will be expected of each party. Taking the time to plan and optimize your onboarding will improve efficiency and client satisfaction.

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IRS revises whistleblower form

Accounting Today

The Internal Revenue Service has updated its whistleblower award form for tipping off the IRS about tax violations and applying for a monetary reward for the information.

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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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New EU Digital Law Puts Apple, Google and Meta to the Test

CPA Practice

By Samuel Stolton. Bloomberg News (via TNS). Apple Inc., Alphabet Inc.’s Google and Meta Platforms Inc. face the risk of potentially hefty fines as the European Union opened a full-blown investigation into the firms’ compliance with strict new laws reining in the power of Big Tech. The European Commission said Monday that Apple and Google’s app store rules will be targeted in the first probes under the bloc’s Digital Markets Act, how Google search results might unfairly preference its own servic

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The California Enterprise Zone Tax Credit Will Disappear in 2024

LSLCPAs

The California Enterprise Zone Tax Credit program ended in 2013 with the dissolution of Enterprise Zones. Two things happened as a result of the dissolution: Any employees hired and equipment purchased after December 31, 2013, would not qualify for the tax credit. The carryover period for tax credits that had been for an unlimited number. The post The California Enterprise Zone Tax Credit Will Disappear in 2024 appeared first on LSL CPAs.

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Corporate Finance Leaders Still Concerned About Bank Failure, Survey Shows

CPA Practice

Depositors expect their needs for safety and values to align when choosing a banking partner in the wake of 2023’s bank failures and a resurgent focus on corporate responsibility. That’s according to the first annual Depositor Priorities Survey report, commissioned by Ampersand Inc. , a financial services firm revolutionizing deposit management. The full survey results, based on responses from leading executives and senior managers across industries involved in deposit administration, can be fou

Finance 64
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Top 5 Reasons to Attend a Salesforce World Tour

Accounting Seed

Salesforce World Tour events bring Salesforce users, partners, customers, and the surrounding community together for a day filled with innovation, transformative learning, and inspiring conversations around today’s business challenges. Whether you’re currently using Salesforce for CRM or exploring the possibility of moving onto the platform, the Salesforce World Tour New York is the event.

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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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HMRC Powers if you deliberately evade tax

Menzies

Menzies LLP - A leading chartered accountancy firm. If you don’t declare or don’t pay the tax you owe to HMRC, it’s likely you will receive significant penalties and in some cases be criminally prosecuted. But did you know that HMRC can publish your details, or enter you into a programme to monitor your affairs more closely if HMRC consider you to be a serious tax defaulter?

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Chicago voters reject mansion tax

Accounting Today

The measure would have allowed the city council to increase transfer levies on upmarket residential and commercial property sales.

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Changes to the EMI share option notification deadline

Menzies

Menzies LLP - A leading chartered accountancy firm. HMRC has recently changed the time limit on the reporting for new EMI notifications granted from 6 April 2024. Under the new legislation, the deadline to report the grant of new EMI share options is now 6 July following the end of the tax year in which they were granted. Therefore, any EMI share options granted between 6 April 2024 and 5 April 2025 must electronically notify to HMRC by 6 July 2025.

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State CPA Societies in Action: Arizona Society of CPAs

CPA Practice

Celebrating its 100 th birthday in 2023, the Arizona Society of CPAs works to create opportunities for its members, while working to promote the interests of Arizona CPAs with governments and regulatory agencies and organizations. [ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S. ] The ASCPAs mission is to create professional opportunities for members and prospec

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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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On-Demand Webinar: A Look Into Post-Pandemic Supply Chain Resiliency

Withum

When you’re responsible for a global business with both suppliers and customers thousands of miles away, you may stay up some nights thinking about major unpredictable disasters and disruptions that could put your supply chain at risk. If you don’t have contingency plans in place for even seemingly mundane events, the business consequences could be enormous.

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Data Shows Finance and Insurance Sector Has Had 70 Percent Increase in R&D

CPA Practice

Companies in the US finance and insurance sector have increased their R&D investment by 70.4% compared to the previous year, according to the latest annual data. The second highest increase of all sectors in the US. In the latest year, companies in the sector invested a total of $20.9 billion on R&D, up from $12.3 billion the previous year. The level of increased investment is nearly seven times higher than the US average.

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The Non-Dom status is changing! What you need to know & tax plan for

Wellers Accounting

Find out how the Non-Dom status and tax regime is going to change, it's impact, and top tax planning tips for the new rules.

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Corvee Adds Home Office Deduction Tax Position to Instead

CPA Practice

Corvee, a software and solutions company serving small and medium-size businesses as well as tax and accounting firms, has added home office deduction filing guidelines to Instead and Instead Pro. A home office deduction allows for the deduction of expenses related to a portion of a home that is used exclusively and regularly for business operations or activities.

Tax 52
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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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Divorce Case Expert Witnesses

FraudFiles

What kind of work can a forensic accountant do in divorce cases? Tracy Coenen talks about the work of a CPA, including calculating income, evaluating financial disclosures, valuing assets, and completing a lifestyle analysis.

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3 insights for navigating Section 174 legislation

ThomsonReuters

Section 174 Capitalization of the Tax Cuts and Jobs Act (TCJA) has created confusion for many corporate tax specialists to work through in the coming months. Pending legislation is complicating matters even further. Panelists from the Thomson Reuters webinar, Section 174: What We Now Know , discussed these challenges, and provided key insights to help tax professionals navigate this murky landscape. __ Here are three important takeaways from their conversation: #1 – Big changes to resear

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Supply to goods for Job Work, have you filed your ITC-04

VJM Global

Job work is an indispensable part of the business and most of the manufacturing entities are required to get their work done from the job worker on a regular basis. However, whether it is Central Excise, Service tax or Goods and Service Tax, special provisions are always provided under the law for goods sent on job work basis. Under CGST Law, a person sending goods for job work is required to file Form GST ITC-04 on GST portal to furnish information about goods sent for job work or goods receive

Tax 40
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Short Term Business Visitors: Overview

Menzies

Menzies LLP - A leading chartered accountancy firm. As a general rule, any individual undertaking employment duties in the UK is immediately liable to UK PAYE taxes, even if they are only in the UK for a matter of days. However, HMRC advises employers that it may be possible to relax strict PAYE requirements for employees on short-term business visits to the UK.

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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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Demand order in Form GST DRC-07 is not sustainable when order is issued in Form GST ASMT-12

VJM Global

Held by Hon’ble High Court of Madras In the matter of Radiant Cash Management Services Ltd., Vs. The Assistant Commissioner (ST) (W.P.No.2981 of 2024 and W.M.P.Nos.3246 & 3247 of 2024) Since commencement of Assessments under GST, there are many practical issues which are being faced by the Assessee. One of the common issues is issuance of GST ASMT-10 and DRC-01 for the same matter.

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Employer’s Year End Reporting Deadlines

Menzies

Menzies LLP - A leading chartered accountancy firm. As another UK tax year draws to a close, here is a summary of the employer’s reporting deadlines that are approaching. If you have any questions about any of the reporting obligations, please just let us know. Approaching deadlines: 4 April 2024 – Gender Pay Gap Reporting If you employ 250 or more people on a specific date each year (the “snapshot” date), you must submit a Gender Pay Gap Report within a year of the snapshot date. 5 April

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Deloitte Partners Tragically Hit With “Improvement Required” Performance Ratings For Backdating Workpapers

Going Concern

Do you guys remember the Deloitte auditors in Canada who were busted changing the clocks on their computers to backdate workpapers ? The reason they took the extraordinary step of changing the clocks on their computers is due to a software feature Deloitte added to their audit suite explicitly intended to prevent the backdating of workpapers. The feature was explained ad nauseam to partners and staff alike after its implementation to make sure everyone understood that backdating workpapers is a

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Tax Strategy: Election year tax proposals kick off

Accounting Today

Both Donald Trump and Joe Biden have begun laying out their visions for the Tax Code.

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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.