Wed.Dec 11, 2024

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Navigating the Hidden Costs of Business Decisions: The Crucial Role of Opportunity Cost

AccountingDepartment

In the dynamic world of entrepreneurship and business management, every decision you make can significantly impact your business's trajectory. Whether it's choosing between investing in new technology or expanding your product line, the choices are endless and often complex.

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IRS Reminds Retirees of RMD Requirements by Year-End

CPA Practice

The Internal Revenue Service is reminding those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements and other retirement plans, and highlighted updates introduced by the SECURE 2.0 Act. Required minimum distributions (RMDs) are amounts that many retirement plan and IRA account owners must withdraw annually.

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Accepting Crypto Payments for Commerce

Withum

Crypto has continued to gain mainstream adoption in the global economy. Each day, more firms are considering the benefits of digital assets and the implementation of payments for their businesses. Offering cryptocurrency payment options may help firms gain a competitive advantage. Should You Integrate Cryptocurrency Payments? If you’re interested in integrating cryptocurrency payments, the guide below will help you make the right decision: Evaluating the Benefits Before diving into the com

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Wolters Kluwer Adds Features to TeamMate+ to Enhance Internal Audits and Data Quality

CPA Practice

Wolters Kluwer, a provider of professional information, software solutions, and services, has announced two significant enhancements to its TeamMate+ audit management platform: Multi-Year Audit Planning and the Business Rules Engine. The new capabilities will enable internal audit teams to streamline planning, improve data accuracy, and enhance governance.

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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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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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Fintech Foundations That Scale

Shay CPA

As technology gets increasingly useful, most company founders are encouraged to think about their tech stacks even early on. Basically, your stack is the grouping of software solutions you use at your company. Its called a stack because, in an ideal world, those tools stack together to create a system that functions together to drive results at your business.

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Market Valuation Techniques in the Cannabis Industry

Withum

The valuation of businesses associated with the cannabis industry offers valuation experts a myriad of opportunities. A multitude of challenges faced by industry operators present unique challenges for a valuation analyst. Valuations must carefully consider the economic, industry and specific company risks associated with the subject company. Industry-specific considerations include regulatory complexities that can vary on a state-by-state basis.

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More Trending

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Research & Development (R&D) Tax Credits: What E-Commerce Companies Need to Know

Withum

The R&D tax credit is a tax incentive that encourages companies to invest in research and development activities in the United States. The credit is available to businesses that engage in qualifying R&D activities. Potentially Qualifying Activities While seemingly routine, many of the activities performed by e-commerce companies can qualify for the R&D tax credit.

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The 2024 Top 100 People: The most vital issues in accounting

Accounting Today

Accounting's most influential outline the profession's biggest challenges.

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Maximize Real Estate Depreciation Deduction with A Cost Segregation Study

Dent Moses

Cost segregation creates a unique opportunity for building owners to minimize taxable income by maximizing depreciation expense in the year or years following the purchase or development of a building. Cost segregation is a method of allocating building costs to components with a shorter depreciable life, which increases the depreciation deduction in the early years of owning the property.

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PCAOB sees signs of improvement in audit quality

Accounting Today

Auditing firms appear to be making headway on fixing some of the problems identified by the Public Company Accounting Oversight Board.

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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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Cory Stewart named to Intuit ProAdvisor Council

DMCL

Were thrilled to announce that Cory Stewart, Senior Manager , has been appointed to the Intuit ProAdvisor Council. This recognition highlights Corys extensive expertise in accounting and his deep understanding of QuickBooks and cloud-based accounting solutions. The ProAdvisor Program, developed by Intuit, is designed to support accounting professionals globally by helping them accelerate growth and improve efficiency in their practices.

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Wanted: Accountants in the classroom

Accounting Today

Accounting professionals with real-world experience can have an outsized impact on accounting students.

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Murph's Payroll App Comparison is Today

Insightful Accountant

At today's 'Be Insightful' Premium Content App Comparison, Murph will be reviewing fourteen Payroll Solutions that work with QuickBooks or Xero, as well as other general ledgers. You can still register for the 3:00 PM (Eastern) Webinar.

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Modernized e-File system slates shutdown for December

Accounting Today

IRS Business Modernized e-File system will partially and temporarily offline for maintenance just before the end of the year.

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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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Increasing Your Prices Without Changing Service Levels

Ryan Lazanis

Many firm owners struggle with raising prices for underpaying clients. Discover the challenges involved and how to overcome them. The post Increasing Your Prices Without Changing Service Levels appeared first on Future Firm.

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Maximize tax benefits with year-end tax planning

Accounting Today

With changing tax regulations and incentives, staying informed about the latest updates is crucial for optimizing client outcomes.

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Including A Mutual Fulfillment of Responsibilities Paragraph in Your Contracts

Canopy Accounting

We're in a 3 part series on how to make our client agreements smarter. Our goal is to clarify our client agreements and better support the relationship we desire with our clients.

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CAS practices grow 17%

Accounting Today

The American Institute of CPAs and CPA.com released their 2024 CAS Benchmark Survey.

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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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Ransomware Gang Says Deloitte Sucks at Their Job

Going Concern

Cybersecurity sites have been reporting that Deloitte UK’s been hacked by ransomware group Brain Cipher after the group claimed they’re in possession of a (compressed) terabyte of data from the King’s Green Dot. The r/consulting reaction to this news is golden: Let no one claim consultants aren’t funny. Anyhoo, as expected Deloitte has something to say about this and it’s “nuh uh!

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Franklin Alliance offers PE alternative to small firms

Accounting Today

The Franklin Alliance, a venture capital-backed operating company, acquired Bement & Company, offering small firms an alternative way to scale outside of private equity.

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Beneficial Ownership Information: Updates for Skagit County Business Owners

SkagitCountyTaxServices

Were living in a historical moment: Procrastinating might have just worked to your advantage. While it goes against everything within me (and everything I encourage you toward in my writings), Im handing you procrastinators the win today. Congratulations. Just try not to let this become a habit. I discussed the basics of BOI reporting in a previous writing this year which covered the details you needed to know to avoid frightening non-compliance penalties.

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Springline Advisory adds HM&M and Clark, Raymond

Accounting Today

The private equity-backed firm invested in HM&M Advisory, based in Dallas, and Clark, Raymond & Company in Redmond, Washington.

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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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Schellman Acquires Connor Consulting

CPA Practice

Schellman & Company, LLC , a provider of attestation and compliance services and a top 50 CPA firm, has announced the acquisition of INSYTE CPAs, LLC practice. As part of the transaction, INSYTEs clients and personnel will transition to Schellman. Their shared client-centric approach to delivering tailored solutions and best-in-class service serves as an excellent complement to the strategic fit between the two firms.

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Certinia touts enhanced analytics, AI, automation in latest release

Accounting Today

Financial operations platform Certinia announced its latest release, featuring new enhancements to its professional cloud as well as bolstered AI, analytics and automation capacities.

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How collaboration with tax teams helps businesses succeed

ThomsonReuters

Traditionally, many corporate businesses have organized their KPIs, reporting and operations by title. Tax professionals and trade finance teams are often treated as separate functions, with separate responsibilities and goals. However, collaboration across all areas of financial reporting is vital in helping businesses navigate todays increasingly complex, globalized business environment.

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2024 Top 100 People extra: AI, PE and other concerns

Accounting Today

As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "What is the most important issue currently facing the accounting profession?

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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!

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Macy's shares fall after profit hit by accounting error

Accounting Today

The retailer trimmed its profit outlook after concluding its investigation into an employee plot to hide millions of dollars in expenses.

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Bessent to meet Senators as he preps for Treasury Secretary vote

Accounting Today

Republicans seek to pass sweeping legislation that renews Trump's 2017 tax overhaul and eliminates taxes on tips, overtime pay and Social Security benefits.

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Biden defends economic record, says Trump plans threaten growth

Accounting Today

President Joe Biden warned that Republican Donald Trump's plans to extend tax cuts and reshape global trade through tariffs risked reversing economic gains.

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