Mon.Dec 23, 2024

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Avoid Holiday Accounting Pitfalls with Outsourced Bookkeeping

Basis 365

The holiday season is a time for businesses to capitalize on increased consumer spending, yet despite the cheery holiday decoration, this period can be rife with accounting challenges for businesses. From managing cash flow to preparing for year-end reporting, the pressure on your accounting needs can quickly escalate during the holidays. Lets take a look into why businesses struggle with their accounting during the holidays, the common mistakes they make, and how outsourced bookkeeping and outs

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Power BI Write-Back: Key Benefits and Approaches

Acterys

For CFOs and financial analysts, having tools that go beyond traditional reporting is critical. While Microsoft Power BIs native data entry option is useful for simple tasks, it falls short with complex data models and planning requirements. Fortunately, Power BIs ability to write back data directly within reports is revolutionizing financial workflows.

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The best and worst states for individual taxes in 2025

Accounting Today

From those with no individual income tax at all, to those with complex tax structures a guide to most and least competitive states when it comes to individual income taxes.

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DSB Rock Island Merges in MFK CPAs

CPA Practice

After welcoming the MFK team, DSB Rock Island will have 110 employees, 16 partners and an estimated $31 million in revenue. This strategic transaction is part of long-term planning for both MFK and DSB Rock Island, according to firm leadership.

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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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IRS proposes new requirements for tax pros

Accounting Today

If enacted, the regs would require practitioners to maintain a certain level of technological competence, among other things.

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The Return to Work Controversy: What’s the Right Decision for Your Accounting Firm?

CPA Practice

If youve settled into a hybrid environment, you may hear some backlash, but you may also have some excited staff members who enjoy being in the office.

More Trending

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Platform Accounting Group Expands in Midwest

CPA Practice

Platform Accounting Group announced two more firms have joined the group. Based in Indiana and Illinois, the additions expand Platforms presence to the Midwest. Twelve firms have joined Platform this year, with a few more anticipated to join in January.

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2025 ProAdvisor Application Process Remains Open

Insightful Accountant

Holiday Leave is the perfect time to 'apply for' (or complete) your 2025 ProAdvisor Awards. Remember, you only have until February 11, 2025 to get those applications in for awards.

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Does Your Firm Have a Data Strategy?

CPA Practice

Data is at the core of incorporating AI and automation into your firms workflows. Without a deliberate data strategy, these initiatives can fall short.

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New Pathways to CPA Licensure Address Industry Talent Shortage

Insightful Accountant

The accounting profession is undergoing significant changes in how it approaches CPA licensure, driven by an urgent need to attract new talent. Many view the traditional CPA path's return on time investment as insufficient.

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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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2025 Tax Refund Dates – Where’s My Refund, And When Will I Get It?

CPA Practice

Depending on when taxpayers file their returns, they can often receive their federal tax refund payment (check or direct deposit) within 10-21 days.

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Murph's Christmas Pudding Recipe

Insightful Accountant

Every few years, at the request of a few of our long-term readers, I republish my traditional English Christmas pudding recipe. So Happy Holidays!

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Phony tax forms nail accountant for mortgage fraud

Accounting Today

A Washington, DC tax accountant pleaded guilty for submitting falsified documents in his application for a $1.4 million purchase loan, which he later received.

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FASB Invites Comments on Intangibles

CPA Practice

The invitation to comment is intended to explore ways the FASB can improve this area of financial reporting, which includes the accounting for acquired and internally developed intangibles.

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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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AICPA wants SEC to reject PCAOB rules on firm and engagement metrics

Accounting Today

The American Institute of CPAs is asking the Securities and Exchange Commission to reject the Public Company Accounting Oversight Board's recent standard.

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New Service Offerings to Grow Your Firm in 2025

CPA Practice

Some services are a natural fit for CPAs. And although they might not be a part of their expected line-up, they are so closely integrated in business operations that it would almost be a disservice not to offer them.

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Aiwyn raises $113M in funding

Accounting Today

The money will help it expand from payments and collections to a broader practice management platform, and to develop a tax solution.

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Tax Professionals Subject to New Requirements Proposed By the IRS

CPA Practice

CPAs, enrolled agents, and other practitioners would have to maintain technological competency under proposed regulations issued by the Treasury Department and the IRS on Dec. 20, which would update Circular 230.

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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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Bookkeeping Contract (Free Template + Instructions)

Ryan Lazanis

Clearly define services and timelines to deliver great results while enjoying more free time with our bookkeeping template and expert tips. The post Bookkeeping Contract (Free Template + Instructions) appeared first on Future Firm.

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Art of Accounting: A template for hiring an experienced manager

Accounting Today

Firms that hire experienced people do not usually get what they expect or are paying for.

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Entergy Hit With $12 Million SEC Penalty for Violating Accounting Rules

CPA Practice

TheSECalleged that Entergy had inaccurate controls when recording materials and supplies, despite employees and management consultants flagging the issue.

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The Tax 3.0 Overhaul is Underway

Insightful Accountant

New technology is impacting the speed of adoption, simplifying workflows and changing how businesses get paid and interact with taxing authorities worldwide.

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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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AI Thought Leaders: Progress, promise and peril

Accounting Today

In this first of three parts of our second annual AI Thought Leaders Survey, our pool of experts share their take on the state of AI over the past year, for both good and ill.

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Red Flags of Divorce Fraud

FraudFiles

The vast majority of family law cases are settled without trials. However, a client should not enter into a voluntary settlement if there are significant concerns about the truth of the financial disclosures and indications that assets or income may be hidden. The first step in determining whether a forensic accountant is needed to evaluate [.

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Gain an entrepreneurial edge

Accounting Today

A bold mindset can help you move your accounting firm further.

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HubSync Releases 2024 Product Enhancements & New Features

CPA Practice

HubSync Co. has announced several new enhancements to its product suite. These new features focus on how firms manage tax and accounting processes, leveraging cutting-edge AI and user-centric design.

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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.

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RoC Imposed Penalty of INR 20 Lakhs On Holding Duplicate Director’s Identification Number (DIN)

VJM Global

In the matter of Mrs. Anubama (F. No. ROC/CHN/ANUBAMA/ADJ/S. 155/2024) The Applicant applied for one DIN on 09.01.2008 and inadvertently applied for a second DIN on 23.04.2013. The Applicant was appointed as director in various companies using both the DIN. The Applicant filed an application to surrender duplicate DIN in form DIR-5 on 16.07.2024. However, such a form was returned with the remark that the DIN holder has violated the provisions of Section 155 of Companies Act, 2013 and violation i

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CPE Webcast – Jan. 14, 2025: Amended Returns in Drake Software

CPA Practice

This webinar is designed for accountants using QuickBooks, Xero, or similar accounting software. Learn how Avalara integrates seamlessly with your existing tech stack, saving time, reducing costly errors, and hear firsthand from a firm that has supported clients through their tax compliance journey. Plus, earn CPE credit!

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2025 Sector Predictions

Menzies

Menzies LLP - A leading chartered accountancy firm. As we approach 2025, businesses and individuals across various sectors are gearing up for a year of challenges and opportunities shaped by changes in taxation, economic stability, and evolving market dynamics. Our experts have shared their predictions for the year ahead, offering insights to help you plan strategically and adapt to the shifting landscape.

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IRS Asks for Feedback on Draft Instructions for R&D Tax Credit Form 6765

CPA Practice

The IRS on Dec. 20 released thedraft Instructions for Form 6765, Credit for Increasing Research Activities, and is seeking feedback on proposed changes to the form, which is used by taxpayers to claim the research and development tax credit.

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Solve Your Firms Automation Complexities Once and For All

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.