Fri.Jan 31, 2025

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Are accountants ready for Making Tax Digital? New survey reveals gap in preparedness

Accounting Insight

A new survey conducted by IRIS Software Group (IRIS) found that more than two in five accountants (42%) are not yet prepared for the upcoming Making Tax Digital (MTD) requirements set to take effect in April 2026. IRIS findings come despite the governments push to digitalise and streamline tax reporting. According to IRIS survey, 44% of respondents said they felt somewhat prepared for the forthcoming MTD requirements, while only 10% considered themselves very prepared.

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Gig workers unaware of lower 1099-K threshold

Accounting Today

Millions more taxpayers will be receiving the Form 1099-K in the mail this year for the first time if they were paid $5,000 or more last year.

Tax 110
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Acumatica to Debut AI Studio, Acumatica Labs in 2025

CPA Practice

Cloud enterprise resource planning provider Acumatica announced this week several updates and enhancements it will release in 2025 for small and midsized businesses.

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Accounting is ready for its rebrand

Accounting Today

How do we expect more people to join the accounting profession if we don't brand it properly?

Account 71
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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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Platform Accounting Group Expands in New York City

CPA Practice

Holladay, UT-based Platform Accounting Group has added New York City-based AKM Advisors, formerly known as Adelman Katz & Mond, an accounting firm that has been in practice for more than 35 years and offers a wide range of financial services to clients.

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Practice Profile: Innovation for all at Withum

Accounting Today

Top 100 Firm Withum collects and rewards ideas for improvement firmwide

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Tech news: Deloitte acquires cloud ERP/HCM platform

Accounting Today

Plus, Intuit tests new interface combining QBO and Mailchimp; Ignition appoints new CEO, CFO; and other news from the accounting tech world.

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Bipartisan Senate Duo Wants to Tax More Companies Out of Russia

CPA Practice

Senate Finance Committee members Catherine Cortez Masto (D-Nev.)andJohn Cornyn (R-Texas) introduced legislation Thursday to stop companies from deducting or claiming credits on theirU.S. tax bills for taxes paid to Russia.

Tax 52
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ACCA foresees global economic growth in 2025

Accounting Today

The global economy is poised for "reasonable, but not particularly exciting" growth, yet uncertainties abound, according to a new report.

Account 59
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Fewer Employees Plan to Bolt From Their Job in Early 2025, Survey Finds

CPA Practice

A new survey from Robert Half has revealed that job satisfaction is on the rise, with only 29% of professionals planning to look for a new job in the first six months of 2025, down from 35% inJuly 2024.

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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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On the move: Meaden & Moore names next CEO

Accounting Today

Armanino adds 22 partners; Weaver expands in India; and more news from across the profession.

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Top 10 States Whose Residents Are Most Eager for Their Tax Refund

CPA Practice

A new study from LLC.org has found that tax refund anticipation is particularly pronounced in southern states, many of which have the lowest median household incomes in the U.S.

Tax 52
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Pathways to Growth: Hold on to this strategic growth framework

Accounting Today

These organic growth principles, built around service, channels and targets, have had a significant impact on the fortunes of highly successful firms.

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Fraud by Top Executives

FraudFiles

Its easy to assume that upper-level executives in companies with fraud scandals were always bad people. By assuming that they were inherently bad people, we dont have to confront the issues related to trusting people who seemed trustworthy. We dont have to explore the idea that people can turn bad or choose a bad path [.

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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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DeepSeek on par with GPT, Claude, Llama for accounting questions

Accounting Today

Since its worldwide release last week, accounting AI experts have been testing Chinese LLM DeepSeek on accounting questions and found it's about or almost on par with other public models.

Account 59
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The role of ERP in the digital transformation of corporate tax departments

ThomsonReuters

Blog home For many growing companies, the decision to switch to a centralized Enterprise Resource Planning (ERP) system is driven by the need to keep up with the increasing complexity and speed of global digitalization. Many common business activities communication, compliance, e-invoicing, reporting, risk management, modeling, analysis, project management, and morenow require universal access to real-time data.

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M&A roundup: Grassi and Platform expand

Accounting Today

Grassi merged in Anstiss & Co.; and Platform Accounting Group added AKM Advisors.

Account 52
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Strategies To Boost Construction Team Morale During Transitions

Randal DeHart

Change is inevitable in any business, but it's rarely easyespecially when managing morale. Significant transitions can leave employees feeling uncertain, disengaged, or even overwhelmed, whether you're restructuring your team, implementing new processes, or pivoting your business strategy. As a small business owner, you probably ask yourself, "How can I guide my team through this while maintaining morale?

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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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Trump sparks lasting panic with funding ban that ended in two days

Accounting Today

The mandate to pause all federal loans and grants has reverberated across the country, from tiny nonprofits to sprawling health agencies.

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Friday Footnotes: RSM Partner Says UK Gov Should Sell Off Bitcoin to Pay Debts; No KPMG Law Yet; Flat Salaries For Consultants | 1.31.25

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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Understanding Stablecoins: A Comprehensive Guide  

Withum

Stablecoins are cryptocurrencies that have a fixed value as they are linked to an external asset (fiat money (like the U.S. dollar), commodities (like gold), or anything else). They are designed to provide a stable way of trading and storing value as opposed to unstable cryptos like Bitcoin. Stablecoins are a part of the new digital economy and bridge the gap between traditional finance and blockchain.

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Swoop secures strategic investment from Sandbox Industries

Accounting Insight

Swoop, the award-winning global business funding and savings platform, is excited to announce a significant strategic investment from Sandbox Industries, a leading venture capital and consulting firm with deep expertise in the insurance and financial services sectors. This investment will power Swoops ambitious expansion into the US market and strengthen its mission to empower SMEs worldwide with access to essential funding and savings.

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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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Preparing for Employer National Insurance contributions and Employment Allowance changes

Menzies

Menzies LLP - A leading chartered accountancy firm. Now that the festive season is behind us, its time to look forward to the changes in the upcoming tax year. With only a few months to go, its imperative that businesses start to prepare themselves for change and the biggest change on the horizon is Employer National Insurance contributions and Employment Allowance changes announced at the Autumn Budget 2024.