Mon.Aug 05, 2024

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Top tips: Choosing the right software for your accountancy firm

Accounting Insight

In today’s world, embracing the right software tools for accountants is not just a matter of convenience; it’s a fundamental necessity. As the accounting landscape evolves, these tools become indispensable. While your first thought might jump to invoicing tools or actual accounting software, there is a whole world of possible tools that can help you streamline complex workflows, ensure your accountants remain agile in their roles, improve client communication, and more.

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Six Tax Issues to Consider If You’re Getting Divorced

RogerRossmeisl

Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are six issues to be aware of if you’re in the process of getting a divorce. 1. Personal residence sale In general, if a couple sells their home in connection with a divorce or legal separation, they should be able to avoid tax on up t

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Coca-Cola to pay $6B tax bill after Tax Court ruling

Accounting Today

Beverage giant Coca-Cola said that it will pay the very old debt, but it is still appealing.

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Closing a Business Involves a Number of Tax Responsibilities

RogerRossmeisl

While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close their doors. If this is your situation, we can help you, including taking care of various tax responsibilities. To start with, a business must file a final federal income tax return and some other related forms for the year it closes its doors.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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ESG: The next hundred-year flood

Accounting Today

Environmental, social and governance work could be for accountants in the 21st century what tax and audits were in the 20th.

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Valuing a Business for a Divorce

RogerRossmeisl

When a marital estate includes an interest in a closely held business, determining its value for purposes of dividing up assets for a divorce settlement can be challenging. Additionally, part or all of the business may be excluded from the marital estate, depending on state law, legal precedent and prenuptial agreements between the spouses. A business valuation professional can help the parties achieve a fair outcome. 2 components of value The value of a business can be broken down into two piec

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Watch Out for Tax Misinformation on Social Media

RogerRossmeisl

Social media gets blamed for a lot these days — sometimes for good reason. Recently, the IRS issued a warning to individual and business taxpayers to beware of false claims about various federal tax breaks that appear on social media platforms. The common denominator of such claims is that they involve legitimate tax provisions for which most taxpayers don’t qualify.

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Managing partners should only have one client

Accounting Today

And that should be their firm, says David Wurtzbacher of Ascend.

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Sage Introduces Streamlined Inventory Planning Tool for Small Merchants Exclusively on Shopify

CPA Practice

Sage , a provider of accounting, financial, HR, retail and payroll technology for small and mid-sized businesses, has announced the launch of Inventory Planner Essentials, a new tool from Inventory Planner by Sage designed specifically to meet the needs of small merchants. Inventory Planner Essentials, initially available exclusively on the Shopify App Store, tackles a major pain point for small merchants: excess, unsold inventory.

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The Biggest Accounting Firms in the US Whip It Out and Compare Size in This Much Anticipated List

Going Concern

INSIDE Public Accounting has dropped its highly regarded Top 500 list as it does every year around this time and we now know who gets bragging rights as the biggest — Big D, obviously. Quick golf clap for them, everybody. Because it’s 2024 and the profession is currently being disrupted by private equity and spaghetti throwing , some of this data was in desperate need of an update before the virtual ink dried on insidepublicaccounting.com’s CMS (for example, last week’s n

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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Be Insightful Training Session Schedule

Insightful Accountant

Insightful Accountant has released the training schedule for its Be Insightful Premium Content and Training program for the rest of the year.

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How CPA Firms Can Maximize the Potential of a Multigenerational Workforce

CPA Practice

By Steve Saah. CPA firm leaders that view their multigenerational workforce as a source of competitive advantage have the right outlook. Sure, it can be challenging to create a cohesive and productive work environment when you have four or even five different generations working in your organization. But harnessing the strengths of each group, from the Silent Generation to Generation Z, can create significant upside for your business — and help position your firm for future success.

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PCAOB awards record 676 student scholarships

Accounting Today

The Public Company Accounting Oversight Board announced its largest-ever cohort of students will receive $15,000 each, up from $10,000 in previous years.

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Comparing Stock Sales and Asset Sales in the M&A Landscape

KROST

When contemplating a merger or acquisition, buyers and sellers must decide whether to structure the deal as a stock or asset sale. Each structure carries distinct implications for both parties, influencing aspects such as tax liability, legal considerations, and overall transaction complexity. Understanding these differences is crucial for making an informed decision.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Art of Accounting: Building wealth outside your practice

Accounting Today

Here are some ways to build your wealth outside your practice.

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Monday Morning Accounting News Brief: Inside PwC When Scandal Breaks; SCOTUS Makes CPAs Nervous | 8.5.24

Going Concern

Is that Sister Minnie in the stock photo? She and I share the same iblis. Good morning! I trust everyone had a good weekend. Thomson Reuters covers value pricing versus traditional fee. Important quote: “To me, the idea of value pricing is that someone is buying a relationship, not a transaction.” — Paul Miller, President of Business by Design, Edina, MN Anyone looking to bring their accounting practice into the 21st century should give that a look.

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Blue teams with Pioneer on IT, cyber services

Accounting Today

Top 75 Firm Blue will offer cybersecurity and IT services through a partnership with Pioneer Technology.

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2025 International ProAdvisor ALERT: Certification Uploads

Insightful Accountant

Murph wants to confirm how you should handle certificate uploads if the date on your ProAdvisor certificates doesn't reflect the most current actual re-certification date.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Nasdaq 100 posts its worst drop since 2022 as selloff deepens

Accounting Today

The Nasdaq 100 Index posted its biggest intraday drop in nearly two years as investors braced for days of volatility amid rising concerns over a slowing U.S. economy and overheated gains in the technology sector.

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Why You Need an Executor: Ensuring Your Estate is Managed Even Without Next of Kin

LSLCPAs

Imagine a scenario where a person passes away suddenly, leaving behind a complex web of assets, debts, and personal belongings. Without someone designated to manage these affairs, chaos can ensue: legal battles may arise, assets may go unclaimed, and the deceased’s final wishes might never be honored. This highlights the critical importance of having someone.

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The more efficient the AI, the more complex its implementation

Accounting Today

A study says that the most efficient way to use generative AI is a combination of robotic process automation and application programming interfaces, but it is also the most difficult to implement.

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Lesley Sanchez Named a Top Accountant by Small Business Monthly

Anders CPA

Audit partner Lesley Sanchez, CPA, was named a St. Louis Small Business Monthly (SBM) Top Accountant for 2024. Each month, SBM polls readers to help identify the best in the area in a particular industry. The August issue focuses on the Top Small Business Accountants and features 8 local accountants who were voted the best in St. Louis. In her feature in the most recent edition of St.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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How to guide clients out of big stock concentrations

Accounting Today

The planning strategies for large individual equity holdings pose tax, investment and behavioral questions for financial advisors and their customers.

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Blue & Co., LLC Announces Joint Venture with Pioneer Technology

CPA Practice

Blue & Co., LLC, a top-60 accounting and advisory firm based in Carmel, IN, and Pioneer Technology, an IT solutions expert based in Chattanooga, TN, have announced the formation of a strategic joint venture under the name of Blue Pioneer Consulting. “We are excited to further solidify our legacy of bringing innovative and cutting-edge solutions to our clients,” said Brad Shaw, managing director of Blue & Co., “Our values of being responsive, caring, advocates are what guide us when we ev

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Internal vs. External Hiring Trends: Key Insights from Talent Search Pros

Cherry Bekaert

In today’s highly competitive business landscape, strategic recruitment plays a crucial role in driving organizational success. External support in recruitment brings substantial benefits, from coping with talent shortages to promoting diversity and fostering innovation. Partnering with the right external support can profoundly impact your organization’s growth and operational efficiency.

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Botkeeper’s AI Unchained 2024: Featuring Headliner Kal Penn

CPA Practice

Botkeeper is has announced the keynote speaker and other details of its upcoming conference AI Unchained 2024. Kal Penn will headline AI Unchained 2024, an electrifying, three-day event taking place in picturesque Santa Rosa, California, from October 8-10, 2024. The one-of-a-kind event will merge automation and artificial intelligence technology with unparalleled networking and educational opportunities.

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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!