Wed.Sep 04, 2024

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How to Future-Proof Your CPA Firm with Process Automation

CPA Practice

By Miguel Perez. As we move toward 2025, the importance for CPA firms to leverage technology for streamlined operations and enhanced productivity has never been more critical. Staying ahead in a rapidly evolving industry requires embracing automation to transform audit processes, enhance collaboration and drive growth. What should CPA firms be doing right now in this ever-changing landscape?

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PwC international tax platform now available for licensing

Accounting Today

Big Four firm PwC announced that its international tax platform Beacon, which has been used internally, is now available for non-audit clients for Pillar Two and US international tax calculations.

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Hackers Stole Social Security Numbers From CBIZ Again

Going Concern

CBIZ has filed a data breach notification with the attorney general of Maine and you know what that means. Wait, maybe you don’t know what that means. Maine has a law that requires “information brokers” — such as an accounting firm that would be in possession of personal identifying information (PII) gathered from clients to perform services for them — to inform residents of Maine when they discover a data breach that has or is reasonably believed to have been acqui

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State CPA societies spotlight top skills for CFOs

Accounting Today

The Massachusetts Society of CPAs teamed up with the Indiana Society of CPAs, the Tennessee Society of CPAs and CPA Crossings to highlight the competencies deemed essential for aspiring CFOs.

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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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IRS Issues Regs on Changing Accounting Method For Research Expenses

CPA Practice

The IRS last week modified the procedures under Section 446 of the tax code and Treasury Regulation Section 1.446-1(e) for obtaining automatic consent to change methods of accounting for research or experimental expenditures paid or incurred in tax years beginning after Dec. 31, 2021. Specifically, Revenue Procedure 2024-34 , issued by the IRS on Aug. 29, does the following: Expands the waiver of the eligibility rules in Rev.

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Low-income areas get $3.5B in clean energy credits

Accounting Today

Investments in solar installations made are expected to fund the generation of close to 2 billion kilowatt hours of clean electricity each year in underserved places.

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More Trending

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Managing generative AI in your firm

Accounting Today

The rapid adoption of gen AI has created opportunities for accounting firms — but also challenges.

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Mastering the Capacity Mindset: My Journey with Canopy

Canopy Accounting

Capacity Mindset I have discovered the magic of the "capacity mindset" in the hectic accounting world. It's all about maximizing my time, resources, and talent to enhance my client services and grow my accounting firm.

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Reining in the ERC, and other major developments at the IRS

Accounting Today

Reining in the ERC, and other major developments at the IRS

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Diving into Xero’s New Inventory Plus for Enhanced Ecommerce Accounting

Basis 365

We’re thrilled to review the launch of Xero's Inventory Plus platform, also referred to as “XIP”, an exciting addition to our toolkit for ecommerce accounting customers. As strong advocates for Xero, we've long valued its refreshing user experience and comprehensive accounting features. Up until now, we’ve used preferred inventory management solutions like Cin7 Core for managing our clients' ecommerce inventory needs, but the integration of Inventory Plus will offer us even more flexibility and

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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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Maryland joins IRS Direct File free tax prep program

Accounting Today

The state of Maryland has become the latest to sign up for the IRS Direct File program for filing season 2025, offering residents a free way to file their taxes.

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Triage approach: The key to a modern-day accountancy model?

Accounting Insight

I believe that two key ways new accountants can supercharge the development of their businesses is both by investing in continuous upskilling and by prioritising protecting their clients. They should always have the needs and financial wellbeing of their clients at the heart of their business model. And they should always be up to date with the latest news and legislation, so they can offer the best possible service.

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Is your firm's SOS process in need of rescue?

Accounting Today

Now is a great time to look at three important operations within your firm: Sales, Onboarding and Service.

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Why Practice Management Software is Essential for Modern Accountants and Bookkeepers

Accounting Insight

In the fast-paced world of accounting and bookkeeping, efficiency is paramount. As firms grow and client expectations rise, traditional methods of managing work become less effective. Practice management software (PMS) offers a modern solution, streamlining operations and helping firms stay competitive. What is Practice Management Software? Practice management software centralises client management, task tracking, document storage, and communication into one platform.

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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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NetSuite 2024.2 In-depth - Part 1

Insightful Accountant

This is a prologue to Murph's new series on Oracle NetSuite with an emphasis on their 2024.2 Release product enhancements. Today's article gives you a glimpse at some of their financial feature improvements.

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My Firm’s Best Marketing Wins

Ryan Lazanis

Discover the 4 biggest marketing wins that generated leads and new business for my firm, so you can apply the lessons to your own business. The post My Firm’s Best Marketing Wins appeared first on Future Firm.

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Patriot Software Meets Gold Standard with Security

Patriot Software

Canton, Ohio In a world where data breaches are the new normal, Patriot Software, an industry disruptor in the accounting and payroll software market, proudly elevates data security with advanced protections. The company has achieved SOC 2 Type II compliance, a testament to its unwavering commitment to safeguarding customers’ most valuable asset: their data.

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Rule of 30: Strategic Growth and Profit Balance with Fractional CFO Expertise

CPA Practice

By Bob Wang, CPA. The “Rule of 30,” popularized by Tee Up Advisors , is a powerful financial benchmark designed to help maturing businesses balance growth and profitability. This rule, an adaptation of the tech industry’s Rule of 40 , suggests that the sum of a company’s growth rate and profit margin should equal or exceed 30%. The Rule of 30 is particularly relevant for mature businesses in traditional industries that are focused on sustaining long-term growth while maintaining robust profit ma

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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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Mastering the Art of Inventory: The Inventory Turnover Report in QuickBooks Enterprise 2024

SchoolofBookkeeping

In the world of QuickBooks Enterprise 2024, managing inventory is as easy as pie—or at least, it is now with the R7 release's new Inventory Turnover Report. Think of it as your inventory's personal trainer, whipping those numbers into shape and helping you flex those financial muscles. Unfortunately, QuickBooks has made it a little difficult to access this information.

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From Steel-Toed Boots to Boardroom: Valuable HR Insights from Human Capital Advisory Leader Susan Pittman

Cherry Bekaert

In episode seventeen of Talkin’ Talent, Susan Pittman, Managing Director and Leader of Human Capital Advisory at Cherry Bekaert, joins Sam McCarthy to discuss all things human resources (HR). Together, they discuss her fascinating career journey, which includes working as the only female in personnel management at the United States Steel Corporation, and how it led to her managing the Human Capital Advisory practice at Cherry Bekaert.

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Early-Stage Financial Strategy: Tips for Startups As Funding Slows Down

Shay CPA

Not so very long ago, investors were thrilled about the opportunities tech presented to them. Everyone was on the hunt for the next unicorn, and founders had ample opportunity to build the runway they needed to get their companies off the ground. Things have changed, though. As everyone holds their breath waiting for rate cuts , many startup founders report that investors seem to be pickier.

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The CannaBiz Success Show: Cannabis Marketing Best Practices from Lisa Buffo

Anders CPA

Packed full of info, don’t miss this episode focused on all things cannabis marketing! Lisa Buffo, Founder and CEO of the Cannabis Marketing Association (CMA), shares her journey into the cannabis industry, the founding of CMA, and the critical role of storytelling in effective cannabis marketing. She and Guillermo delve into the nuances of cannabis marketing, strategies for overcoming stigma and misinformation about cannabis, and practical tips for enhancing marketing efforts in cannabis busine

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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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Jessie Williams on Shifting from an Overworked Firm to an Optimized Accounting Firm

Canopy Accounting

Jessie Williams, an experienced accountant and Canopy user, covers the importance of setting boundaries in the accounting profession, to maintain good mental health. This episode discusses the challenges of balancing professional and personal life, especially in a high-pressure profession like accounting, where long hours and client demands can lead to burnout.

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From Strategic Planning to Implementation

Cherry Bekaert

Implementing a strategic plan to accomplish your organizational and community goals is crucial to obtaining and securing lasting impact. However, this can prove daunting for community development organizations. Join this session to learn more about how community development organizations can execute their strategic plans, from capitalization strategies to community impact reporting.

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Meet the brand: Mimo

Accounting Insight

Introducing Mimo, first time exhibitors at Accountex Summit Manchester… What do Mimo do? Mimo stands for Money-in & -out. We’re an all-in-one platform designed to help you manage Accounts Payable, Accounts Receivable, and Cash Flow all in one place. For accounting firms, this means you can save time and money by consolidating your tools, while also offering strategic services to your clients.

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Future Forward Webinar and Qvinci® help you 'Review the Metrics'

Insightful Accountant

Murph reveals how an upcoming Future Forward webinar featuring Qvinci focuses on using a 3-step approach to building your Advisory Services. This article focuses on Step 1.

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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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What to expect from an ACNC audit

Accounting for Good

The ACNC conducts audits to ensure that organisations comply with the ACNC Act and adhere to their responsibilities under Australian law.

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Celebrating Our Payroll Team During National Payroll Week

Inform Accounting

As National Payroll Week rolls around, it’s time to pause and celebrate the incredible work of our payroll team.

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A November Tax Showdown

Insightful Accountant

There is no doubt that tax policy will be a matter of debate in the upcoming election. The two parties could not stand further apart on their positions for just about everything, including taxes. So where do Vance and Walz stand?

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In the blogs: Grabbing attention

Accounting Today

The unchanged tax code; AI hype; M&A promise; and other highlights from our favorite tax bloggers.

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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.