Wed.Feb 14, 2024

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How accountants can make remote work work

Accounting Today

With almost 13% of full-time employees working remotely, and 28.2% in a hybrid arrangement, accounting firms are coming to see the importance of adapting to the new working environment.

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Voting Opens for 2024 Readers’ Choice Awards

CPA Practice

Voting in the 2024 Readers’ Choice Awards is now open. The CPA Practice Advisor Readers’ Choice Awards give our readers the opportunity to spotlight the technologies they most rely on and trust to manage their firms, provide client services, and help those clients run their businesses. From online tax and accounting systems, practice management, document automation and workflow tools, to apps for collaboration, mobile productivity and research.

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Jeff Bezos reaps Florida tax benefit with $4B Amazon share sale

Accounting Today

Leaving Washington state, which in 2022 introduced a 7% tax on capital gains, could have saved Bezos $288 million in taxes after he unloaded $4 billion of Amazon.com stock in the past week.

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Is PwC Cooking Up Another Big Rebranding?

Going Concern

TLDR: PwC has engaged McCann as global creative agency, their current logo is 14 years old, and the tax scandal that originated at PwC Australia has done real damage to the PwC brand worldwide. Plus they like debuting new logos when the economy sucks. There might be a new face of PwC on the horizon. Ad Age reported earlier this month that PwC has appointed Interpublic Group of Cos.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

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.

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80% of Employers Plan to Increase Investment in Workforce Development

CPA Practice

More than 80% of businesses are currently planning to increase overall investment in workforce development in 2024, according to a new survey from RGP, a global consulting firm. The survey explored the key market factors that are shaping workforce investment decisions for U.S. businesses in the year ahead. “There’s a lot of work out there, but the lingering labor market imbalance is causing employers to embrace new ways of finding the skills they need, and our latest research validates this shif

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IDC MarketScape Names NetSuite a Worldwide Leader in SaaS and Cloud-Enabled Finance and Accounting Applications

Insightful Accountant

NetSuite has been named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Mid-market Finance and Accounting Applications 2023–2024 Vendor Assessment.

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Sage Transform 2024 Headed Our Way

Insightful Accountant

Once again, Murph will be covering Sage Transform, the annual conference for the Sage Intacct community. This year, Sage Transform is being held in Las Vegas at the MGM Grand.

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How Do Outsourced Accounting Services Work?

GrowthForceBlog

8 min read Outsourcing is the practice of hiring a third-party provider to manage any aspect of a business. Of course, the most popular business functions to outsource are those that are not directly related to the core function of your business but that are still absolutely necessary for its operation.

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Strengthen Your Bottom Line: Manufacturing Cost Management Explained

AccountingDepartment

In the fast-paced world of manufacturing, where efficiency and innovation reign, understanding and managing costs are paramount to success. Cost management isn't a mere back-office function; it's what ensures your products remain competitive, your operations sustainable, and your company profitable.

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Cybersecurity for CPAs: Don't get complacent

Accounting Today

In this month's Cybersecurity for CPAs, a firm takes steps to make sure people still follow the safety rules they instituted during work for home.

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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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Improvements to Income Tax Disclosures in ASU 2023-09

Withum

Before the 2023 calendar year ended, a new Accounting Standards Update (ASU) was issued by the Financial Standards Account Board (FASB) to update the requirements for income tax disclosures under US GAAP. ASU 2023-09 applies to all entities that are subject to income taxes, but some disclosures are only required for public entities. Public business entities must adopt these amendments for annual periods beginning after December 15, 2024, while other entities will have an additional year for adop

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GenAI in anti-fraud tech expected to triple

Accounting Today

Generative AI, which is already playing an outsized role in fraud, is also expected to play an at least equally large role in efforts to fight fraud.

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Skagit County Business Owners, A Big Gmail Update Is on the Way

SkagitCountyTaxServices

For a long time, the NFL was hands-off when it came to Las Vegas. They were unwilling to get anywhere close because of the long-time commissioner’s caution about the connections some big NFL names had with well-known mob connections. Commissioner Pete Rozelle and his successors were adamant about their anti-sports betting stance. Major changes in the NFL’s attitude toward Vegas came, slowly but steadily.

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IESBA proposes ethics changes for sustainability

Accounting Today

The International Ethics Standards Board for Accountants has proposed new rules to help auditors steer companies away from greenwashing.

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Back to Basics with Reconciliations

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.

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Deloitte’s Second Service Doggo Is All Grown Up

Going Concern

*Article image is of some other dogs found on a stock image site, I needed an excuse to scroll more dog pics this morning. Happened to see this on the propaganda factory that is the Life at Deloitte Xitter account yesterday and figured it would be good to share, it isn’t often we get feels from Big 4 initiatives. It seems Deloitte’s second service dog is heading off to the next chapter in his journey: And just like that, a new chapter begins for our #PuppyWithAPurpose , Kevin!

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M&A roundup: PKF O'Connor Davies, Mowery & Schoenfeld, and Davies expand

Accounting Today

PKF O'Connor Davies added SuárezBaldomero; Mowery & Schoenfeld merged in Hochfelder & Weber; and Davies acquired Matson, Driscoll & Damico.

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E-Commerce Warehouse Location: The Most Advantageous States for Your Business

Withum

Selecting the optimal state to locate your e-commerce business’s warehouse is a critical decision that can significantly impact operational efficiency, cost-effectiveness, and customer satisfaction. It is important to review both the logistical considerations of getting goods in and out of a particular state and the plusses and minuses of the state tax and business regulatory environment.

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The Federal Data Transparency Act and Your Local Government Agency

LSLCPAs

What is the Federal Data Transparency Act? The Federal Data Transparency Act (FDTA or the Act) was passed by Congress on December 23, 2022, as part of the National Defense Authorization Act. It is another step in digitizing data coming on top of the Federal Funding Accountability and Transparency Act (FFATA) of 2006, the Data. The post The Federal Data Transparency Act and Your Local Government Agency appeared first on LSL CPAs.

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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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Hospitality & Leisure: Spring Budget 2024 Predictions & Wish list

Menzies

Menzies LLP - A leading chartered accountancy firm. As we approach the Spring Budget on 6 March 2024, the UK Hospitality and Leisure sector faces ongoing challenges. Despite some positive outcomes from the Autumn Statement, such as the freeze on the small business rates multiplier for 2024/25 and an extension of the business rates relief scheme, businesses in this sector continue to grapple with ongoing pressure.

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What I Love About Accounting

Withum

There is no better time to share what I love about public accounting than on Valentine’s Day. Following is a list of 14 things I love about public accounting. 14 Reasons Why I Love Public Accounting I love tax season. What profession can you get to interact with every client you have, get updated on their goings on, share their dreams and goals (since most of these have a financial element) and also get paid for it?

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Retail: Spring Budget 2024 Predictions & Wish List

Menzies

Menzies LLP - A leading chartered accountancy firm. Martin Hamilton highlights what we could expect from the Chancellor’s Spring Budget 2024 this year, and what could benefit the Manufacturing sector. Business rates Modify the scheduled business rates increase in April by transitioning from the Consumer Price Index (CPI) of September 2023 to the projected CPI of April 2024.

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Terrell Turner on Building a Firm, Finding a Niche, and Creating Success

Canopy Accounting

Terrell Turner, co-founder of TLTurner Group and co-host of the Things Your Accountant Isn't Telling You Podcast, shares tips for building a firm from scratch, how to find your niche, and unique ways to create success. Three Main Ideas: Developing a niche : Terrell emphasizes the importance of identifying a specific target market within the accounting industry.

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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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Leave Your Ego at the Door

Ryan Lazanis

Ego can lead many firm owners away from their ultimate objectives. Check out how I was able to manage my ego and why you should too. The post Leave Your Ego at the Door appeared first on Future Firm.

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How to Find and Develop Your Niche

Summit CPA

Finding and developing your niche can help you grow your business. Marketing to potential clients operating in a specific industry can help you increase your profit margins as you gain more experience servicing clients in your chosen niche and ultimately charge more money for your expertise. Chances are you'll even streamline your operations as you become more accustomed to offering your services to your choice clientele.

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Mowery & Schoenfeld Merges in Chicago Firm Hochfelder & Weber

CPA Practice

Top 200 accounting firm Mowery & Schoenfeld has merged with Hochfelder & Weber, a CPA firm with a 91-year history in Chicago. Financial terms of the deal weren’t disclosed. The combined firm will continue as Mowery & Schoenfeld, with Robert Olson, managing partner of Hochfelder & Weber, becoming a partner at Lincolnshire, IL-based Mowery & Schoenfeld.

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2024 Tech Company Tax Tips

Shay CPA

Does thinking about filing your taxes put some tension on your shoulders? If so, it’s probably because you’ve had a less-than-ideal filing experience in the past. And in most cases, those unwelcome filing instances come from surprises. Or you might be feeling stressed because you don’t know what to expect. Either way, we can help. By giving you a heads-up in some key areas, we can make filing your tech company’s 2024 taxes a whole lot easier — and less stressful.

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Solve Your Firm's 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.

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IRS Seeks More Than $1 Billion From SVB for Taxes

CPA Practice

By Sabrina Willmer, Bloomberg News (TNS) The IRS is seeking to recover about $1.4 billion in taxes it claims are owed by Silicon Valley Bank, the regional lender that failed last year. The federal tax agency claims the California-based lender owes both corporate income and employment taxes spanning a four-year period ending in 2023, according to a lawsuit filed Tuesday in Washington federal court.

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Disappearing Income and Asset Values in Divorce

FraudFiles

We’ve all seen it before: A spouse owns and operates one or more businesses. Divorce is filed, and the “out” spouse is told that the businesses have little or no value. Further, there is no income available to pay support, thanks to the poor financial condition of the businesses. How can this be when the [.

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PKF O’Connor Davies Picks Up a Boutique Firm in New Jersey

CPA Practice

Top 30 accounting firm PKF O’Connor Davies acquired Little Falls, NJ-based SuárezBaldomero, a boutique CPA firm with a growing international clientele, on Jan. 1. Financial terms of the deal weren’t disclosed. Belarmino A. Suárez, shareholder at SuárezBaldomero, and all of the firm’s employees have joined PKF O’Connor Davies and remain in their current office in Little Falls.

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Navigating new terrain with multinational tax compliance

Accounting Today

The OECD's Pillar Two international corporate tax rules will impose significant new compliance obligations on midsize multinational enterprises.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.