CPA Practice

OCTOBER 14, 2024

A new survey from Big Four firm EY reveals that CFOs’ and corporate tax leaders’ stances on generative artificial intelligence have shifted over the past year—from mostly negative to mostly positive. Of the more than 1,600 professionals who participated in the 2024 EY Tax and Finance Operations Survey, 87% say they believe integrating GenAI will drive increased efficiency and effectiveness within the tax function, up significantly from 15% in 2023.

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corporation tax Tax Finance Technology 71

Going Concern

OCTOBER 14, 2024

For the second year in a row, EY is pushing back start dates for some new hires, in this case about 200 people who were expecting to start at Parthenon next month or in January. Earlier start date deferrals happened in November and August of 2023 , there may be more we haven’t mentioned. Probably are more. FT : On a call with staff, EY-Parthenon bosses blamed a disappointing market for mergers and acquisitions and private equity activity, meaning advisory revenue growth has been slower tha

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audit 119

CPA Practice

OCTOBER 14, 2024

The IRS is granting certain tax-exempt organizations that are making an elective payment election a six-month automatic extension of time to file an original or superseding Form 990-T, Exempt Organization Business Income Tax Return , with relevant schedules and forms, the agency said on Oct. 11. This relief means that applicable tax-exempt organizations that were required to but didn’t file a timely extension on Form 8868, Application for Extension of Time to File an Exempt Organization Return ,

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Tax income tax tax return 96

Going Concern

OCTOBER 14, 2024

Yo. It’s Monday, some stuff happened over the weekend, let’s get right to it. An ‘everygirl’ tells the tale of being pressured to choose a major, landing on accounting, and regretting the decision in ‘ I Was Dedicated to My 5-Year Plan—and Then It Blew Up in My Face ‘: It was the fall semester of my sophomore year of college.

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Account accounted accountant audit 57

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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

accounting and finance

CPA Practice

OCTOBER 14, 2024

Nominations for the 2024 Awards are now open. Click here to go to the free nomination form. Multiple nominations do not enhance a candidate’s chances. There are no costs associated with these awards or the nomination process. The 40 Under 40 Awards spotlight the top practicing public accountants, educators and thought leaders who are leading their profession by visibly and incrementally changing the accounting profession through their exemplary leadership, their innovative thinking, their collab

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tax preparation Education public accounting Gaming 95

Insightful Accountant

OCTOBER 14, 2024

The 2025 ProAdvisor Awards are already underway, hundreds of ProAdvisors have already been nominated or have applied. You can also nominate a deserving ProAdvisor or start your application today, learn more inside.

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Withum

OCTOBER 14, 2024

Withum, together with DwellFi and Cole-Frieman & Mallon , are pleased to announce the release of a comprehensive survey report titled ‘ The State of Applied AI in Fund Administration ,’ conducted by Alternatives Watch. The survey gathered responses from senior executives at fund administrators ranging in AUA, and reveals a rapidly evolving landscape where Gen AI is becoming a critical differentiator.

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Finance 52

CPA Practice

OCTOBER 14, 2024

Women CEOs at large U.S. public companies outearned their male counterparts in 2024. The median compensation for female CEOs in the S&P 500 was $16.4 million, while their male counterparts earned $15.6 million. Despite higher compensation, the new report by The Conference Board, ESGAUGE, and FW Cook notes that women continue to hold few CEO positions in corporate America—just 7.9% in the S&P 500.

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Account accounted accountant 90

Anders CPA

OCTOBER 14, 2024

Nobody knows your business like you do. Your management team is on top of key performance metrics (KPIs) daily, such as mpg, dwell time, gross profit, idle time, revenue per tractor/trailer ratios – monitoring your company’s every move. You and your team know your business – and how to guide it to success. But what about when you need to communicate your businesses’ value outside of your team?

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Transportation CPA Maine Finance 52

CPA Practice

OCTOBER 14, 2024

The American Institute of CPAs recently submitted a comment letter to the Department of the Treasury and the Internal Revenue Service in response to their release of a guidance package addressing certain basis-shifting transactions involving partnerships and related parties. On June 17, 2024, Treasury and the IRS issued a guidance package targeting related parties and partnerships, which structure transactions to take advantage of the basis-adjustment provisions of subchapter K.

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cpas Tax 59

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Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

Account

Withum

OCTOBER 14, 2024

Doing business through a partnership has many benefits, such as allowing for a pass-through (conduit) regime of taxation and great flexibility in allocating profit and loss among the partners. Liabilities under the aggregate concept of partnership taxation are included in the partners outside basis of its interest. Internal Revenue Code (IRC) Section 752 accomplishes this by treating changes in the partnership’s liabilities as deemed contributions and distributions to and from the partnership.

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Non-Profits Construction Real Estate Tax 52

CPA Practice

OCTOBER 14, 2024

The accounting talent shortage is now at a crisis level within the tax and finance functions, as 70% of CFOs and corporate tax executives say they’re feeling the impact of fewer accountants entering the profession while senior cohorts retire, according to the 2024 EY Tax and Finance Operations Survey. The lack of up-and-coming accounting professionals has gotten so bad, according to EY, that a majority (62%) of tax and finance leaders say professionals without a university degree have become imp

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Finance Tax accounting and finance corporation tax 52

ThomsonReuters

OCTOBER 14, 2024

In recent years, trade sanctions have become an increasingly important, and well-used foreign policy tool for governments worldwide. Companies have to navigate a vastly expanded sanctions environment, in which regulations are multiplying, international cooperation is becoming more joined, and enforcement action is intensifying. The number of sanctions measures is also growing.

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Technology Government Tax accounted 52

CPA Practice

OCTOBER 14, 2024

Optimism among mid-market business leaders has reached a record high with 74% optimistic about the outlook for their economy over the next 12 months (up three points from Q2 2024), according to Grant Thornton’s latest International Business Report (IBR). This increase in confidence appears to be driven by a drop in concerns about business constraints.

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Non-Profits accounting and finance Finance Account 52

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

Finance

Anders CPA

OCTOBER 14, 2024

Maintaining robust internal controls in your 401(k) plan is essential not only for compliance but for ensuring the accuracy of financial statements for your audit. From an auditor’s perspective, these controls provide a solid foundation of trust, allowing the audit process to be more efficient and less costly. Without effective controls, audits become time-consuming and expensive, as auditors are forced to double-check every detail.

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CPA Practice

OCTOBER 14, 2024

Top 25 accounting firm Cherry Bekaert is expanding its enterprise resource planning (ERP) and technology and consulting capabilities by acquiring ArcherPoint, a Microsoft Certified Solutions partner servicing clients across North America and Europe, as well as an ArcherPoint affiliate, Suite Engine, a solutions developer for Microsoft Dynamics 365 Business Central.

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accounting firms Construction Manufacturing Retail 52

VJM Global

OCTOBER 14, 2024

CBIC received various representations with respect to the admissibility of Input Tax credits on demo vehicles in pursuance of Section 17(5) of the CGST Act. The demo vehicles are maintained by authorized dealers as per dealership norms and are used for providing a trial run and for demonstrating features of the vehicle to potential buyers. Demo vehicles are purchased by the authorized dealers from the vehicle manufacturers against tax invoices and are generally reflected as capital assets in th

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Transportation Manufacturing Tax income tax 52

FraudFiles

OCTOBER 14, 2024

An investigative policy is an important tool to help manage the process of initiating a corporate fraud investigation. Doing so will help bring uniformity to the evaluation of fraud allegations, and it will help guide management through the decision making relative to the claims. The first step in creating an investigative policy is drafting a [.

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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

VJM Global

OCTOBER 14, 2024

To enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the Invoice Management System (IMS) has been introduced by the GSTN. The facility has been made live on the GST portal with effect from 1st October 2024. The IMS shall allow the taxpayer to take action on the invoice reflected in the IMS, i.e., the Recipient may mark the invoice as accepted or rejected or for later use.

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B2B Gaming Tax 52

Accounting Today

OCTOBER 14, 2024

The Top 25 Firm has acquired the Georgia-based Microsoft reseller, as well as an affiliated software developer.

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Georgia 64

Accounting Today

OCTOBER 14, 2024

Changes are only accomplished if the firm leaders are committed to improvements.

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accounting system Account accounted accountant 67