Withum
JULY 24, 2024
Becoming a partner in a law firm is a significant milestone, but it also comes with important financial considerations. Let’s explore some key points related to new law firm partners and their tax situation: Tax Implications for New Law Firm Partners Switch from W-2 to K-1 Taxation: Upon elevation to partner, there could be a switch from being a W-2 employee to receiving a K-1 to report income to you.
Accounting Today
JULY 24, 2024
The Financial Accounting Standards Board issued a proposed accounting standards update to request public comments on possible changes to two of its standards.
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Withum
JULY 24, 2024
Rev up for the Summer 2024 issue of Dealer Vision! This newsletter is fueled with insights to drive your dealership in the right direction. Learn more about the latest on warranty reimbursement laws, work-in-process reconciliation, and tips for managing your dealership’s assets, especially cash. Inside This Issue Warranty Reimbursement Laws – It’s Time for an Update The Mystery of Work-In-Process Cash Is Still King Download PDF View Interactive Newsletter CDK Insights Recap Do
CPA Practice
JULY 24, 2024
By Chris Chiriatti. Consider this scenario: You’re a busy CFO whose private company, after a long quiet period, just completed an effective IPO. But as your team celebrates your collective progress, you find yourself in a difficult position. As a newly-minted public company, you now have a host of new, complicated SEC-mandated financial reporting requirements that are effective on “Day One.
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Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.
Withum
JULY 24, 2024
Explore Other Episodes #CivicWarriors #WithumImpact The post Fundraising Home Runs With Dana-Farber Cancer Institute and the Jimmy Fund appeared first on Withum.
Accounting Today
JULY 24, 2024
The CPA industry is undergoing profound change, reshaping the landscape of professional services.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
GrowthForceBlog
JULY 24, 2024
9 min read July 24th, 2024 Financial reporting in any business can be complicated; financial reporting in architecture firms, however, is even more challenging. Why does architecture firm financial reporting pose a unique challenge? Key Takeaways Industry-Specific Financial Reporting Challenges for Architecture Firms: Many businesses are subject to the rules and recommendations put forth by the Financial Accounting Standards Board's (FASB) generally accepted accounting principles (GAAP).
Accounting Today
JULY 24, 2024
The Garden State will be the next to join the program next filing season.
Xero
JULY 24, 2024
“After my partner and I were attacked in our home, we had a lot of questions about how to help improve the safety of our neighbourhood and a create a sense of community where neighbours don’t hide behind high walls,” said Sheryl Ozinsky, co-founder of Oranjezicht City Farm (OZCF), a non-profit project celebrating local food, culture and community in Cape Town, South Africa.
Accounting Today
JULY 24, 2024
The Internal Revenue Service issued a notice with initial guidance on claiming a tax credit involving carbon sequestration, also known as carbon capture.
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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.
Cherry Bekaert
JULY 24, 2024
Changing Leadership for an Ever-Changing Business Environment The Chief Financial Officer (CFO) role has been redefined. Today, CFOs are more than just the heads of finance. Instead, they are being called on to be operational leaders, planners, and visionaries who must help the CEO and other senior executives lead their organizations through changing times by providing insights on financial matters, embracing non-traditional skills, implementing emerging technologies, and championing purpose and
Going Concern
JULY 24, 2024
Do with that information what you will. Deloitte chose to mark the occasion by asking a few interns to share any advice for future interns. For example: Bring a lot of enthusiasm to your role! Teams appreciate and thrive with interns who are eager and full of energy. Your positive attitude can energize everyone around you! Just going to leave this here !
Insightful Accountant
JULY 24, 2024
This 'help guide' reviews the two minimum criteria for the International ProAdvisor Awards in the context of the specific 'Application Questions' used to solicit that information from applicants.
Going Concern
JULY 24, 2024
Kate Barton, who has worked at EY for longer than many of you reading this have been alive, has been elected as global CEO of Dentons, ‘the world’s largest global law firm.’ Being wholly unfamiliar with law firms here at Going Concern, we decided to fact check that bit. Law.com has them at #5 in revenue after Kirkland & Ellis, Latham & Watkins, DLA Piper, and Baker McKenzie.
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Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.
Ryan Lazanis
JULY 24, 2024
Discover a step-by-step process to rank your clients and eliminate your worst ones, so you can cut workload and boost profitability. The post Fire Bad Clients to Quickly Add Capacity appeared first on Future Firm.
CPA Practice
JULY 24, 2024
Thomson Reuters, a global content and technology company, has launched of Checkpoint Edge with CoCounsel, which is now generally available in the United States. The enhanced solution features a new AI-Assisted Research skill, and is designed to help today’s tax professionals get trusted answers to complex tax research questions using CoCounsel, the professional-grade GenAI assistant from Thomson Reuters.
Anders CPA
JULY 24, 2024
Adam Stettner, CEO of FundCanna , joins Guillermo to discuss the financial challenges faced by small businesses in the cannabis industry. Adam highlights the underbanked nature of the industry and the difficulties in accessing traditional bank loans for cannabis funding due to stringent regulations. He explains how FundCanna provides flexible funding solutions to meet the unique revenue cycles and cash flow needs of cannabis businesses.
CPA Practice
JULY 24, 2024
Military households are more likely to have higher assets and less likely to consider debt a problem compared with non-military households. That’s according to new research from the Employee Benefit Research Institute (EBRI) and Greenwald Research. Also, military households with higher incomes are more likely to be confident about retirement prospects than non-military households.
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Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.
Withum
JULY 24, 2024
It has been an excellent run for the new dealership industry over the past few years. Profits were at all-time highs, and you finally figured out the business. It had nothing to do with the law of economics, where the demand outweighed the supply. It had to do with the fact that you finally put your years of knowledge together and look at the results.
CPA Practice
JULY 24, 2024
During a keynote speech on leadership at the Tri-Merit Bridging the Gap 2024 conference on July 24, Koltin Consulting Group CEO Allan Koltin asked those in attendance if they watch the show Ted Lasso. A majority of the people in the room at the Loews Chicago O’Hare Hotel in Rosemont, IL, raised their hands. “I’ve got to tell you, it’s one of the greatest television shows on leadership that I’ve ever seen,” Koltin said.
Canopy Accounting
JULY 24, 2024
In this episode of the Practice Success Podcast, Lera Kooper, co-owner of Accountability Services, discusses the shift from traditional accounting to a strategic, forward-looking approach. The conversation highlights the importance of proactive planning, the challenges of transitioning to a new business model, and the value of advisory services in modern accounting.
CPA Practice
JULY 24, 2024
The IRS said this week that individuals and businesses in 67 Texas counties affected by Hurricane Beryl now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). This means individuals and households that reside or have a business in the following counties in Texas qualify for tax relief: Anderson, Angelina, Aransas, Austin, Bowie, Brazoria, B
Speaker: Duke Heninger
With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.
Insightful Accountant
JULY 24, 2024
In this Tech Stack series with Kellie Parks CPB, we will cover the essential verticals for building a successful cloud technology ecosystem.
Accounting Today
JULY 24, 2024
Corporate performance management solutions provider OneStream debuted today on the Nasdaq with a roughly $490 million IPO
Dent Moses
JULY 24, 2024
On Monday, CPA Practice Advisor shared a great overview of the CrowdStrike glitch that shutdown airlines and many companies. According to CrowdStrike’s website, it has 29,000 customers around the world, including some of the biggest companies in the US. Microsoft has estimated that the incident, which is being described as one of the worst IT outages in history, impacted 8.5 million computers around the world.
Withum
JULY 24, 2024
Work-in-process reconciliation is often a misunderstood accounting task, so we would like to take an opportunity to review it. Accounting never matches the service department’s WIP report. As a result, many of us were taught to make an entry to make them match. Just debit or credit the WIP inventory and offset the difference against cost-of-sales, other service payroll expense, or accrued payroll and then reverse that entry next month and repeat.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
Accounting Today
JULY 24, 2024
The shock replacement of the Democratic presidential candidate less than four months before the election has introduced a new element of uncertainty about the outlook for economic policy in 2025 and beyond.
Withum
JULY 24, 2024
All fifty U.S. states now have provisions in their dealer franchise laws that require automotive manufacturers and/or distributors to reimburse car dealers at the same retail rates that the dealers charge to their customers for both parts and labor. Some of these laws have been on the books for over 15 years and, during this time, many dealers have exercised their rights to obtain retail rates for warranty parts and labor.
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