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

Accounting Today

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

Tax 130
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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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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.

Account 111
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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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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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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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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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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

Account 59
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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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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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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.

Account 59
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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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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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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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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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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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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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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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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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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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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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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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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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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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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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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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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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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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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.