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.
Speaker: Amanda Adams, Fractional CFO, CPA
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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.
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.
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.
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 !
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
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.
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.
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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.
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
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.
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
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.
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
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.
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.
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.
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.
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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.
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.
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.
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: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
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.
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