Mon.Dec 16, 2024

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AI and automation: Augmenting accountants, not replacing them

Accounting Today

Embracing artificial intelligence and automation can help accounting firms take a human-centered approach to efficiency.

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5 IRA and 401(k) Changes to Know for 2025

CPA Practice

Savvy savers should plan ahead to help save more and avoid penalties and tricky tax situations. Here are five changes coming to IRAs and 401(k)s in 2025.

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Ascend adds Walter Shuffain

Accounting Today

Private-equity backed firm Ascend has added Walter Shuffain to expand its footprint in the Boston market.

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A data security checklist for tax firms using GenAI

ThomsonReuters

Jump to 1. Use data encryption when working with clients 2. Implement access controls to use GenAI 3. Implement a quarterly security audit 4. What to consider when selecting the right technology 5. Provide security training as part of your firms annual curriculum 6. Minimize unnecessary data 7. Incorporate privacy considerations into the GenAI system 8.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Client Accounting Services to Help Drive Your Business

AccountingDepartment

When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.

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Strategies for identifying and converting clients for advisory services

ThomsonReuters

Jump to Understand the value of an advisory model Identify ideal clients for advisory services Convert clients from compliance to advisory Build long-term, meaningful relationships with clients The shifting dynamics in the accounting industry present an opportunity for small and midsized firms to gain a competitive edge by moving beyond traditional compliance tasks and embracing a more advisory-focused approach.

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More Trending

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CFOs have the worst job security in the C-suite

Accounting Today

Chief financial officers continue to experience a downward decline in tenure and the lowest level of job security in the C-suite, according to a new study.

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Vertex Named a Leader in 2024 IDC MarketScape in 3 Categories

CPA Practice

Vertex delivers innovative tax technology designed to support complex operations across industries, helping ensure accurate tax determination, and seamlessly integrating with evolving business models.

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Average audit fees grew 6.41%

Accounting Today

The average audit fee increased to $3.01 million from 2022 to 2023, up from $2.83 million in the previous cycle, according to a new report.

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How Your CRM Helps You Maintain Compliance Regarding Accountant-Client Privilege

Canopy Accounting

Accountant-client privilege is a vital element of building trust, but balancing compliance rules is challenging. Learn how the right CRM can help.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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KBST&M merges in Varanko & Black CPAs

Accounting Today

Kahn, Berman, Solomon, Taibel & Mogol in Hunt Valley, Maryland, is adding Varanko & Black CPAs, another firm in Baltimore County, effective Jan. 1, 2025.

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Enhancing Manufacturing Business Operations in NetSuite

Withum

Many manufacturing companies encounter challenges when trying to manage their operations within an ERP system. Unlike more standardized industries, manufacturing involves a wide range of variables, including custom production workflows, specialized machinery and intricate supply chain logistics that are often unique to your product. Configuring out-of-the-box NetSuite to meet these unique requirements can be particularly difficult.

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IIA and ACCA extend pact

Accounting Today

The Institute of Internal Auditors and the Association of Chartered Certified Accountants have renewed their memorandum of understanding for another three years.

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NJCPA Delivers Nearly 2,500 Pounds of Food and Supplies to Community FoodBank of New Jersey

CPA Practice

The NJCPA Emerging Leaders Council, which sponsored the Food Drive, also held a volunteer day at the FoodBank to help pack food for seniors and veterans.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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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New ways to CPA

Accounting Today

Pennsylvania Institute of CPAs CEO Jennifer Cryder dives into why and how new paths to CPA licensure are opening up.

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2025 ProAdvisor Awards Application Process Continues

Insightful Accountant

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Art of Accounting: A holiday gift for my readers

Accounting Today

Ed is offering to email a bundle of articles that provide helpful tax, valuation, financial planning and practice management advice.

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Rainbow Lodge – Who is Claude Robinson?

Accounting for Good

An Australian Of The Year Finalist in the local hero category, Claude Robinson and Rainbow Lodge care for the men nobody wants.

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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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Key Implications of the Preliminary Injunction for Tax Practitioners

Insightful Accountant

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SAP Announces General Availability of SAP Green Ledger

CPA Practice

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Chicago nixes property-tax hike as Olympic loan payment extended

Accounting Today

Chicago Mayor Brandon Johnson is reversing his plan to raise property taxes by offering to use some bond refinancing savings and defer a loan repayment.

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AICPA & CIMA Announces 2024 Leadership Academy Graduates

CPA Practice

The program, now in its 16th year, was held in Durham from December 9-12. The AICPA Leadership Academy was created to inspire, nurture and empower the next generation of diverse CPA leaders by providing them with advanced leadership training.

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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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Monday Morning Accounting News Brief: Oh Man, the Deloitte Hack Is Bad; Grant Thornton’s $2.31 Billion in Debt PE Deal | 12.16.24

Going Concern

Good morning and happy Monday! I heard you like news so here’s some just for you. A Los Angeles firm is doing a reverse pioneer thing and planting a flag in Salt Lake City : Salt Lake Citys growing and vibrant business base, experienced workforce, and the presence of world-class accounting programs at local universities are prompting HCVT, the largest CPA firm based in Los Angeles, to open a sizable office in the market, company officials announced today.

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Understanding Trump’s Push to Lock in the TCJA

CPA Practice

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Workflow Automation Tools: Optimize Your Power Automate Cloud Flows

Withum

As businesses continue to evolve and embrace digital transformation , the need for efficient and automated workflows has never been greater. Power Automate, a versatile workflow automation tool from Microsoft Power Platform , empowers organizations to create cloud flows that automate a wide range of tasks, reducing the need for manual intervention. To maximize the benefits of Power Automate, it is essential to follow best practices that ensure your Power Automate cloud flows are not only efficie

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Massachusetts Society of CPAs Offers Accounting Opportunities to High School Students

CPA Practice

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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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2025 UK tax deadlines and other important financial dates

Wellers Accounting

Tom Biggs ACA CTA, provides a comprehensive list of the tax and financial dates you need to be aware of in 2025.

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Trump Tax Cuts May Fail to Drive Much, if Any, Economic Gain, Analysis Says

CPA Practice

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Cannabis Collection Agency: What Is It and How Can It Help Your Cash Flow?

Anders CPA

As the son of a commercial collection attorney, Brett Gelfand never wanted to get into debt collection. But when he found himself in the thick of the cannabis business in Colorado, where delinquency rates were through the roof, he saw an opportunity that would lead him to create Cannabiz Collects – the only cannabis debt collection agency. Brett started wholesaling his product on terms in 2015, before that was common in the industry.

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Modulr Secures its First-Ever Contract with HMRC for Confirmation of Payee Services

Accounting Insight

Modulr, a leading digital payment services provider, is today announcing a significant new contract with His Majesty’s Revenue and Customs (HMRC) for the provision of Confirmation of Payee (CoP) services. Under the agreement, Modulr will continue to protect the security of HMRC’s payments to individuals and businesses through its CoP service, which helps prevent fraud by validating bank account details in real-time with receiving banks and payment institutions.

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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.