Wed.Sep 11, 2024

article thumbnail

Why Your Accounting Firm Needs Managed IT Services

CPA Practice

By Dr. Sangeeta Chhabra Efficiency and speed matter more than ever in today’s business environment—and for the majority of accounting firms. Managed IT services are a sure way to bring those elements to your practice. These services scale IT infrastructure to help accountants speed up accounting services, manage the workforce, adhere to global compliances, and lower operational costs.

article thumbnail

Illinois CPAs meet to discuss major issues in profession

Accounting Today

Illinois CPA Society president and CEO Geoffrey Brown and chair Deborah Rood discussed some of the hot topics in the accounting profession during a recent ICPAS Summit.

Illinois 126
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Bloomberg Tax Predicts 2025 Standard Tax Rates, Standard Deductions, and AMT

CPA Practice

Bloomberg Tax & Accounting has released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% from 2024. This is about half the increase in 2024, and a significant drop from the 7.1% increase in 2023. The full report is available at: [link]. Bloomberg Tax’s annual Projected U.S. Tax Rates Report provides early, accurate notice of the potential tax savings that could be realized due to increases in deduction limitations, upward adjustm

Tax 127
article thumbnail

Opportunity zones and other gain deferral strategies save on taxes

Accounting Today

The OZ program allows investors to defer their capital gains from sales of appreciated real estate, stocks, businesses, personal residences, collectibles and even crypto through 2026.

article thumbnail

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.

article thumbnail

Survey Results Are In: Charting the Future of Accounting

CPA Practice

By Chris Howard Executive Summary The accounting profession stands at the precipice of transformative change driven by rapid advancements in technology and evolving client expectations. This Canopy and CPA Practice Advisor survey asked respondents to share where they currently were and where they thought their firms would be three to five years from now on topics like automation, AI integration, workforce dynamics, remote work models, client interaction, digital transformation, security and more

article thumbnail

Tax inflation adjustments expected to shrink

Accounting Today

Bloomberg Tax & Accounting projects that inflation-adjusted amounts in the Tax Code will increase 2.8% in 2025 — roughly half the increase in 2024 and down from 7.1% in 2023.

Tax 123

More Trending

article thumbnail

How To Start Your Skagit County Small Business, Part Two

SkagitCountyTaxServices

The next generation might not know what Benjamin Franklin was talking about when he said “A penny saved is a penny earned.” That and so many other cliches we take for granted related to money. Lucky penny…pennies on the dollar…penny for your thoughts…see a penny pick it up, all day long you’ll have good luck. Why? Because penny abolitionists want to get rid of them.

article thumbnail

Working with ADHD: A toolkit for accountants

Accounting Today

With the right support, the neurodivergent can thrive in accounting.

article thumbnail

Program to Help California Cannabis Businesses Get Licensed

CPA Practice

William Melhado The Sacramento Bee (TNS) Delayed spending and a lack of oversight threaten to disrupt a $100 million grant program run by the Department of Cannabis Control intended to help businesses secure state licenses, a recent report by California State Auditor found. The August report identified local governments that had spent some of the state funds on things unrelated to the grant’s purpose and failed to properly track money designed to help businesses navigate cannabis regulations.

article thumbnail

How to Manage the Hospital Cash on Hand Crisis

Withum

According to an S&P Global Ratings report released on August 7, 2024, median days cash on hand for U.S. hospitals and health systems dipped to a 10-year low. While the upper half of U.S.-based nonprofit acute healthcare providers reported an average of 292 days, the concern is with those in the lower half, who reported 128 days on average. As a result of the lower cash on hand, the report noted that an uptick is expected in borrowing activity for many organizations in 2024.

article thumbnail

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!

article thumbnail

Oracle NetSuite boosts AI capacity across product suite

Accounting Today

Oracle NetSuite announced major AI-related enhancements to numerous products across its product suite.

article thumbnail

Let’s Look at Apollo’s 10-Q to Get Specifics on Their Deal with BDO

Going Concern

In response to the post “ What’s going on at BDO USA? ,” an erudite Redditor with remedial EDGAR search skills pulled up Apollo’s 10-Q for the quarter ended March 31, 2024. As far as we know, the details of this deal haven’t been reported in the media, only that BDO and Apollo had done a $1.3 billion debt financing transaction.

Florida 64
article thumbnail

Sustainability investments increased this year

Accounting Today

Climate change remains a top issue for global business leaders in the C suite, according to a report by Deloitte.

Account 72
article thumbnail

Colorado Set to Join IRS Direct File Program in 2026

CPA Practice

By Nick Coltrain The Denver Post (TNS) Coloradans will soon be able to file their federal income taxes directly online for free under a program created by the Inflation Reduction Act. Beginning with tax year 2025—filing for which happens in early 2026—Coloradans will be able to use the IRS’s free Direct File program to submit their state and federal taxes online for free.

article thumbnail

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.

article thumbnail

Inform Direct Launches New Client Portal

Accounting Insight

Company secretarial software and formations specialist Inform Direct is to unveil its latest update at Accountex Summit Manchester – a new flexible client portal which delivers a range of real benefits to accountants. The enhancement enables end-to-end automation of managing the production of clients’ confirmation statements, while still ensuring accountants can retain the control they need.

Account 59
article thumbnail

NetSuite 2024.2 In-depth - Part 2

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 Manufacturing and Warehouse features.

article thumbnail

10 Ways We’re Getting Serious With Cybersecurity

Ryan Lazanis

Don't take cybersecurity for granted. Learn 10 steps we're using to protect ourselves and how they can help safeguard your business too. The post 10 Ways We’re Getting Serious With Cybersecurity appeared first on Future Firm.

Account 52
article thumbnail

Overview: NetSuite Manufacturing Mobile Enhancements

Insightful Accountant

Enhanced Manufacturing Mobile functionality bolsters Manufacturing and Supply operations for NetSuite users.

article thumbnail

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.

article thumbnail

Prophix Adds Account Reconciliation to Prophix One Platform

CPA Practice

Financial performance management software maker Prophix announced on Sept. 10 the general availability of Prophix One Account Reconciliation, a new solution geared toward the financial close management process. Prophix One Account Reconciliation automates tedious tasks and provides a centralized platform for managing all account reconciliation activities, the company said in a media release.

article thumbnail

Top ProAdvisor Profiles: Michelle Smith

Insightful Accountant

Michelle Smith, of Fourlane is one of our 2024 Top 100 (US) ProAdvisors, and is our featured ProAdvisor this week.

52
article thumbnail

How Should a 401(k) Plan Sponsor Respond to a Data Breach?

LSLCPAs

Data breaches are a growing concern in today’s digital age, and even 401(k) plans are not exempt from this risk. When a breach occurs, the response from the plan sponsor is critical to protect participants and maintain trust. Let’s explore a detailed response strategy, illustrated by a case study of a basic, fictional company. Case. The post How Should a 401(k) Plan Sponsor Respond to a Data Breach?

cpas 52
article thumbnail

Optimizing Your Firm Sales Process

Insightful Accountant

Sales, Onboarding, and Service is commonly referred to as SOS in operations. This triad forms the backbone of client relationships and firm growth, making it essential for long-term success.

Sales 52
article thumbnail

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.

article thumbnail

Thomson Reuters Adds Integration with SAP for ESG Reporting Compliance

CPA Practice

Thomson Reuters has announced the latest evolution of its strategic partnership with SAP to introduce a product integration aimed at supporting customers with environmental, social and governance (ESG) reporting, simplifying compliance with emerging regulations for multinational corporations. The integration plans include combining Thomson Reuters ONESOURCE Statutory Reporting and SAP Sustainability Control Tower, enabling customers to prepare, gather, and file ESG data seamlessly within a unifi

article thumbnail

New NetSuite Connector for SalesForce On-the-way

Insightful Accountant

A new NetSuite - SalesForce integration, planned for release within the next 12-months, should help users enhance data management, streamline processes, expand business insights, and improve decision-making.

article thumbnail

Global Demand for EVs Slows Due to Lack of Charging Locations

CPA Practice

Global demand for electric vehicles (EVs) has slowed, and for prospective EV buyers, the main concern is a lack of charging infrastructure, according to the fifth annual EY Global Mobility Consumer Index report. The report – based on 19000 respondents from 28 countries – shows that while globally those looking to buy an EV has risen from 55% to 58% since last year, demand is leveling off, having increased from 30% to 55% between 2020 and 2023.

article thumbnail

SuiteProcurement hopes to reduce ‘cost of doing business.’

Insightful Accountant

Oracle NetSuite’s new procurement offering and vendor collaborations with Amazon Business and Staples Business Advantage should help businesses increase productivity and control spending.

article thumbnail

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

article thumbnail

Workiva and Visual Lease Announce Partnership for Financial and Sustainability Reporting

CPA Practice

Visual Lease (VL) , a platform for integrated lease management, accounting, and reporting, has announced a strategic partnership with Workiva , a platform for assured integrated reporting, at Workiva Amplify 2024. Both companies focus on empowering mutual customers to streamline financial and sustainability reporting. “At VL, we saw firsthand how challenging portfolio management was for the Office of Finance in adopting the accounting standards (ASC 842, IFRS 16, GASB 87 & 96),” said Robe

article thumbnail

New User Experience for Oracle Fusion Cloud Supply Chain & Manufacturing

Insightful Accountant

To help organizations build smart and responsive supply chain operations, Oracle has announced new user experience enhancements within Oracle Fusion Cloud Supply Chain & Manufacturing (SCM).

article thumbnail

Charting the Future of Accounting

CPA Practice

In this engaging webinar a panel of accounting professionals will dive into the data, share their insights, and forecast where they see the profession going in the future. The survey focused on automation, AI, technology usage, security, client interactions, workforce dynamics, work models and more. Come learn what your peers had to say and get some insights on the future of the profession.

Indiana 52
article thumbnail

Innovating the Month-End Close Checklist: Fintech Tools that Can Help

Shay CPA

The month-end close is a critical tool in any tech company’s arsenal. It’s also a lot of work. Gathering up all of the details you need to look back over the last month and account for every penny can be a major lift. Add in the need to update key financial reports and it’s no surprise a lot of founders put this to-do off. But technology is transforming the way businesses tackle the month-end close.

article thumbnail

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.