Tue.Oct 22, 2024

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When Venture Capital Flies High, Accounting Services Crash Hard

AccountingDepartment

In the fast-paced world of small and medium-sized businesses (SMBs) and startups, reliable accounting services are crucial. Recently, a new trend has emerged—accounting firms operated with the help of venture capital funding. On the surface, these services may appear attractive due to their low costs and initial benefits. However, SMB owners, entrepreneurs, and finance professionals need to tread carefully.

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Achieve Sustainable SaaS Growth with the Rule of 40

BurklandAssociates

The Rule of 40 helps you balance rapid growth with long-term profitability as you scale your SaaS startup. The post Achieve Sustainable SaaS Growth with the Rule of 40 appeared first on Burkland.

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Grant Thornton Expands Workday Practice Leadership Team

CPA Practice

Grant Thornton, a provider of end-to-end audit, assurance, tax and advisory services, has appointed Greg Davis to lead the firm’s Workday practice. Grant Thornton has also enhanced its Workday leadership team with the addition of Andrew (Drew) Houts, who joins the firm with nearly a decade of Workday ecosystem leadership experience. Since 2019, Grant Thornton has teamed up with Workday , a leader in enterprise cloud applications for finance and human resources.

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By the numbers: Industry niches, standard deductions and more

Accounting Today

The latest data on how accounting firms spend time serving CAS clients, current and projected standard deductions, and other key metrics.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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AICPA Asks Treasury for Guidance on Marijuana Law Changes

CPA Practice

In May of 2024, the Department of Justice (DOJ) issued proposed language that would reschedule marijuana from a Schedule I controlled substance to a Schedule III controlled substance, subject to section 280E of the Internal Revenue Code. The American Institute of CPAs submitted a letter to the Department of the Treasury and the Internal Revenue Service (IRS) requesting guidance for cannabis businesses in advance of the impending transition away from engaging in a trade or business that subjects

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IRS adjusts tax amounts for inflation for 2025

Accounting Today

The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.

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More Trending

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After the election: What's next

Accounting Today

Regardless of the election results, we will see some tax legislation next year, says one expert.

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AICPA Offers Financial Tips to Recent Hurricane Victims

CPA Practice

As residents across the southeast continue to pull their lives back together following the devastating destruction of Hurricanes Helene and Milton, the personal financial planning experts at the American Institute of CPAs are offering tips to help with financial well-being and planning for the future. “Victims have a lot of things to sort through following a major disaster, including getting their financial house in order,” says Dan Snyder, director, Public Accounting (Personal Financial Plannin

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Thomson Reuters acquires AI specialist Materia

Accounting Today

Materia's platform can answer accounting queries in plain language and embed citations so users can verify the information.

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Finish Strong: 9 Year-End Marketing Tips Every Accounting Firm Needs

CPA Practice

As the year ends, you have a unique opportunity to engage clients and showcase your expertise with year-end marketing initiatives. Here are some effective year-end marketing tips to help you to make the most of the season. Promote Year-End Tax Planning Services Offer a blog series, webinars, or video content focused on year-end tax planning strategies.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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PCAOB sanctions, bans firm and bars partner

Accounting Today

The Public Company Accounting Oversight Board imposed a $50,000 fine, revoked the firm's registration and barred its partner.

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Understanding Nevada LLC Taxes

inDinero Tax Tips

You may have heard that Nevada LLC taxes are favorable to business owners. This is true if you plan to do business there, but keep in mind it’s rarely advantageous for out-of-state businesses to incorporate somewhere other than their home state; taxes accrue where you do business, not where you incorporate. In this article, we’ll cover everything you need to know about Nevada LLC taxes, from pass-through treatment to self-employment, sales, and payroll taxes.

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Accountants more pessimistic about global economy

Accounting Today

Global confidence among accountants globally declined in the third quarter to its lowest level since 2023, although confidence increased in North America.

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From Overlooked Liability to Optimized SaaS Sales Tax Compliance in Avalara

Cherry Bekaert

A B2B subscription-based billing and financial operations Software-as-a-Service (SaaS) company (the Company) engaged Cherry Bekaert tax professionals to file prior returns and close accounts. In reviewing the Company’s data, the Firm’s Sales & Use Tax team realized its tax compliance software was not properly set up according to current sales tax regulations for SaaS companies.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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In the blogs: Profound effects

Accounting Today

Local measures galore; AI to the rescue; franchisees' checklist; and other highlights from our favorite tax bloggers.

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Forvis Mazars Unveils Sales and Use Tax Estimation Platform

CPA Practice

Top 10 accounting firm Forvis Mazars has launched SALT Explorer, a sales and use tax estimation platform for its construction industry clients navigating their state and local tax (SALT) challenges. SALT Explorer provides sales and use tax estimates for incorporation into project bids, helping reduce the risk of sales and use tax exposure and enhancing financial performance, the firm says in a media release.

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Microsoft launches AI agents, deepening rivalry with Salesforce

Accounting Today

The Redmond, Washington-based software maker said it would roll out 10 "autonomous agents" to complete tasks on behalf of people in areas such as sales, customer support and accounting.

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Johnson & Johnson Faces Scrutiny from HRSA Over Proposed 340B Program Rebate Model

Withum

On August 23, 2024, Johnson & Johnson Health Care Systems Inc. (JJHCS) announced to the Disproportionate Share Hospital (DSH) Covered Entities that it was updating its discount policy on Stelara and Xarelto to a rebate model. The 340B program allows DSH entities to purchase eligible drugs at discounted rates up-front and prescribe themto individuals with income levels below the federal poverty line.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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How CPAs can manage deadlines and reduce year-end stress

Accounting Today

CPAs and accounting firms live (or die) by calendars and clear communication, with daily and annual deadlines.

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EY’s Global Revenue Up Only 3.8% to $51.2 Billion in 2024

CPA Practice

A year after posting nearly double-digit revenue growth , EY said on Oct. 17 that its global revenue increased 3.8% in U.S. currency terms in 2024 to $51.2 billion for the year ending June 30. That represents 3.9% revenue growth in local currency terms, the Big Four accounting firm said. In 2023, EY hauled in revenue of $49.35 billion globally, an increase of 9.3% in U.S. currency terms and 14.2% in local currency terms from $45.4 billion in 2022.

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Not For Profits makes a positive impact on society

Accounting for Good

Not For Profit organisations continue to make a significant difference to a large percentage of Australians.

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Intuit Launches FP&A and Management Solution for Growing Businesses

CPA Practice

If you’ve worried that growing clients are ready for an enterprise resource planning (ERP) platform, but would be overpaying for an overpowered and overly complicated solution, the worry stops now. Intuit launched Intuit Enterprise Suite on Sept. 17 to provide right-sized solutions for growing, complex businesses that need advanced reporting, financial planning and analysis (FP&A), and business management tools, all with a single login.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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How to Acumatica - Match Bank Receipt Transactions

Insightful Accountant

Murph looks at how to match a bank receipt transaction to a debit adjustment in Acumatica when users are running 2024R2.

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The Best Strategies for Nurturing Client Relationships

Summit CPA

Jamie and Jody engage in a dynamic conversation with guest Adam Kurzawa, covering the best strategies to nurture client relationships.

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Murph's ERP Alternatives to QuickBooks is tomorrow, Thursday, October 24th

Insightful Accountant

Tomorrow, Murph is presenting a 'Be Insightful' program covering ERP Alternatives to QuickBooks. The program includes the 10/24/24 webinar, a Blue Paper, and a follow-up Question & Answer workshop.

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Thomson Reuters Acquires AI Firm Materia

CPA Practice

Thomson Reuters Corporation, a global content and technology company, has acquired Materia, a U.S.-based startup that specializes in the development of an agentic AI assistant for the tax, audit and accounting profession. This transaction, which is complementary to Thomson Reuters AI roadmap, accelerates Thomson Reuters vision for the provision of generative AI tools to the professions it serves.

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AP Automation: The Competitive Advantage Your Business Needs

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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Streamlining HR with AI: Insights for Accounting Firms with Michelle LeBlanc

Insightful Accountant

Join Gary DeHart and HR expert Michelle LeBlanc as they dive into streamlining HR with AI and insights for accounting firms.

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What will the Budget bring?

Inform Accounting

With the Budget coming on 30th October, speculation is increasing on what changes will be announced. The Chancellor and the Prime Minister have made comments to indicate that the Budget will bring “difficult decisions”.

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Be Insightful - Join Before October 29!

Insightful Accountant

Join Insightful Accountant's Be Insightful Premium Content and training program before October 29 and you will be entered into a drawing for a $5000 travel voucher.

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RSM Launches Suite of Integrated, Outsourced Solutions for Mid-Market Firms

CPA Practice

RSM US LLP, a provider of assurance, tax and consulting services for the middle market, that it has launched RSM Catamaran, a suite of integrated, outsourced solutions for middle market firms. RSM Catamaran offers an integrated, industry-focused, technologically advanced suite of outsourced solutions to help organizations manage and maintain back-office functions such as: Finance, accounting, and tax Managed IT and managed applications Security, governance and risk Human capital “I’m thrilled ab

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.