Cherry Bekaert

AUGUST 9, 2024

Thirty-five percent of global companies now utilize some form of artificial intelligence (AI) in their businesses, while 42 percent claim to be exploring AI within their company, according to an Exploding Topics trend analysis. Although the recent surge of generative AI brings with it many benefits and assets, there are also inherent risks. As an increasing number of organizations continue to integrate AI into their processes, having a plan to mitigate risks, such as data privacy breaches, biase

Technology 75

Technology Transportation Government Legal 75

CPA Practice

AUGUST 9, 2024

The 2023 version of Form 8308, Report of a Sale or Exchange of Certain Partnership Interests , requires information to be reported contingent upon the finalization of substantially all of a partnership’s tax return by January 31, months in advance of the due dates for Form 1065 and related Schedules K-1. These new filing requirements place an undue burden on taxpayers and tax practitioners by mandating the duplicate reporting of information already required to be reported on Schedules K-1.

tax return 131

tax return cpas Tax Sales 131

Accounting Today

AUGUST 9, 2024

Accounting tech space sees major acquisitions this week; Bitwave releases Data Fusion tool for digital assets; TaxValet gains B-corp status; and other accounting tech news.

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Technology accountant accounted Account 122

CPA Practice

AUGUST 9, 2024

Hybrid work has been shown to benefit workers—from better work-life balance to higher job satisfaction and more. Still, many employees expected to make the trek into the office—even on a partial basis—may put up a fight. A new report from The Conference Board identifies ways that businesses can not only reduce employee resistance to a hybrid model but maximize its value to the business.

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Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

accounting and finance

Accounting Today

AUGUST 9, 2024

The Treasury Department and the Internal Revenue Service said Friday that Connecticut will be the latest state to join the IRS Direct File program for free tax preparation.

Connecticut 120

Connecticut Tax tax preparation income tax 120

Accounting Today

AUGUST 9, 2024

DMJPS launches Be Greater Scholarship to celebrate 75th anniversary; Weaver adds three to transaction advisory services; and more news from across the profession.

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Tax 122

CPA Practice

AUGUST 9, 2024

Professionals on the Move is a round-up of recent promotions and staffing news from around the profession. CLA Celebrates More than 700 Advancements CLA (CliftonLarsonAllen LLP), the eighth-largest accounting firm in the United States, recently announced more than 700 advancements across the firm. Twice each year in July and November, CLA advances high performing team members to new roles, further developing the firm’s talent and investing in its succession mindset.

Ohio 111

Ohio audit cpas CPA 111

Accounting Today

AUGUST 9, 2024

The proposal, under the Financial Data and Transparency Act of 2022, will make financial data more accessible, uniform and useful to the public.

accountant 120

accountant accounted Account 120

Randal DeHart

AUGUST 9, 2024

Understanding financial statements might sound daunting, but small business owners like you must stay on top of your game. Each financial report offers unique insights into your company's economic status. As a construction contractor, your financial statements provide valuable insights into your company's financial health and are essential for making informed decisions.

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financial statements Construction Gaming quickbooks 87

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Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

bookkeeping

Going Concern

AUGUST 9, 2024

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.

accounting firms 84

accounting firms accountant accounted Account 84

Cherry Bekaert

AUGUST 9, 2024

Industrial manufacturing businesses are constantly looking for ways to reduce costs, increase profits and invest in new equipment or facilities. Fortunately, many states offer various tax credits and incentives to help companies achieve business goals and thus stimulate economic growth within their states by offering tax subsidies. In addition to the typical credits related to investment and job creation, below are five valuable tax credits available to businesses operating within the manufactur

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Manufacturing West Virginia Mississippi Louisiana 64

Going Concern

AUGUST 9, 2024

FT reported on Wednesday that the King’s EY was hit with a £295,000 fine ($376,309 USD) after the firm surpassed the allowed non-audit billing amount for a Russian steel company called Evraz. The fine was originally more than £321k but the FRC gives firms a discount if they admit to breaking the rules and/or assist in an FRC investigation. “It would not be fair to treat any part of this announcement as constituting or evidencing an investigation into, or findings in respect of the co

Non-Profits 70

Non-Profits audit auditor Government 70

Accounting Today

AUGUST 9, 2024

Everything you need to know about regs, judicial decisions, IRS pronouncements and more from the first half of 2024.

Tax 77

Tax 77

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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

auditor

CPA Practice

AUGUST 9, 2024

This webinar will be held on Tuesday, September 10, 2024 at 3:00pm ET Sponsor: Drake Software Duration: 1 Hour (CPE and CE) Register Now As online communication and storage become the new norm for the tax preparation industry, data thieves have taken advantage of more opportunities to steal sensitive taxpayer information. Tax preparers can take steps to protect themselves and their clients by understanding and establishing a clear, strategic data protection plan for their businesses.

Tax 52

Tax Indiana tax preparation CPA 52

Accounting Today

AUGUST 9, 2024

The IRS has postponed payment and filing deadlines for those affected by the storm.

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Tax 77

CPA Practice

AUGUST 9, 2024

The Financial Accounting Standards Board ( FASB ) has issued its 2024 Investor Outreach Report. The document is now available through the FASB investor web portal at [link]. “Since our first report in 2021, the FASB has engaged in more than 1,750 investor interactions,” noted FASB Chair Richard R. Jones and Technical Director Jackson M. Day in their opening letter.

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income tax accounting standards financial accounting Government 52

Accounting Today

AUGUST 9, 2024

With the merger, the Regional Leader will add offices in Cedar Rapids and Coralville, Iowa.

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Iowa 70

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Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

Tax

CPA Practice

AUGUST 9, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, review CYMA Payroll , a system designed for providers offering volume payroll processing and unique markets that process complex payroll. Use the video player below to watch, or the podcast player below to listen to the podcast. – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.

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payroll Technology accountant accounted 119

Accounting Today

AUGUST 9, 2024

Many payroll systems claim to be cloud-native, yet fail to deliver the true benefits.

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payroll 83

Accounting Today

AUGUST 9, 2024

Eligible professionals can now earn revenue share with QuickBooks Payments

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quickbooks 61