Thu.Jan 09, 2025

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Top 5 Trends Impacting Accounting in 2025

Accounting Seed

The accounting landscape continues to evolve at a rapid pace with emerging technologies, shifting workforce dynamics, and new operational demandsall of which impact the way accounting teams operate, and businesses achieve growth goals. Based on the data found in the Office of the CFO reports from Piper Sandler , weve compiled the top trends shaping the future of accounting that organizations must embrace to stay competitive: 1.

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Big 4 Firms Fight Against Metrics That Would Reveal the Workloads Behind the Curtain

Going Concern

While the AICPA and large accounting firms have begged urged the SEC not to approve the PCAOB Firm and Engagement Metrics rule (PCAOB-2024-06) approved by the PCAOB on November 21, 2024, at least one person would like to see the added transparency this rule could provide and he’ll explain why in a comment letter we’ll discuss below. As a refresher, this rule requires reporting of metrics at both the firm and the engagement levels.

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Update to sales tax requirements of selling into Canada

TaxConnex

A huge draw of eCommerce is that a sellers potential market might include many nations. And U.S. sellers looking to go international might naturally first look north. Canada is now the 11th largest market for eCommerce in the world, with a predicted revenue of more than 63 million (in U.S. dollars) by last year. Leading eCommerce market segments into Canada have included fashion, hobby/leisure, electronics, furniture/homeware and groceries, according to latest statistics.

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BDO USA Adds Blue Beyond Consulting in California

CPA Practice

The top 10 accounting firm said Thursday it will be adding 48 professionals to its management consulting practice from Blue Beyond Consulting, a San Francisco-based firm focused on the people side of business, in a merger that is expected to close on March 1.

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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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The best and worst states for sales taxes

Accounting Today

Data from the Tax Foundation's 2025 State Tax Competitiveness Index ranked which states compete on sales and excise taxes, and which don't.

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2025 Tax Refunds: When Can You Get Your Refund? Date Estimate

CPA Practice

Everybody hates the IRS, but many of us love getting a tax refund! Find out when you can expect to get your refund if you file early. Even without a refund loan, you can usually get your refund in 2-3 weeks.

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EisnerAmper Combines with HDA Accounting Group in Colorado

CPA Practice

The top 20 accounting firm is merging in HDA Accounting Group, a Greenwood Village, CO-based firm that specializes in services exclusively to dental practices, in a deal expected to close in early 2025.

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IRS Free File starts Jan. 10

Accounting Today

The program will start accepting individual returns to be held for filing once tax season kicks off.

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New Cryptocurrency Reporting Requirements Impact Tax Season 2025

Insightful Accountant

Starting January 1, 2025, the implementation of Form 1099-DA and finalized crypto reporting regulations will significantly impact your tax preparation practice.

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Nation Pauses for Day of Mourning for Jimmy Carter

CPA Practice

The tradition has been held for presidents since the assassination of Abraham Lincoln, but has also been observed for other nationally respected leaders, such as Dr. Martin Luther King, Jr.

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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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Maximizing Profit Opportunities with Strategic Financial Forecasting

AccountingDepartment

In the current competitive environment, small and medium-sized businesses (SMBs) must leverage every possible advantage to succeed and expand. Forecasting is a powerful tool that can greatly influence a company's financial success.

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The cost of statutory reporting errors and the need for ESG integration

ThomsonReuters

Blog home In the high-stakes world of business, accurate statutory reporting is crucial to avoid potential financial and reputational consequences. Surprisingly, statutory reporting processes are often overlooked or neglected in organizational improvement initiatives, even though they are recognized as a critical business need. As regulatory scrutiny tightens, even minor mistakes can lead to costly pitfalls.

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FREE Accounting Education Webinars — January 2025

Nancy McClelland, LLC

A few too-good-to-miss free resources have come through my inbox and socials recently, and I wanted to make sure to share the goodness with yall. Velocity 2025 – Virtual Annual Planning Retreat by Justine Lackey Date: Tuesday, January 10th Time: 12:30-4 pm EST Whats the disconnect between dreaming big and actually making it happen? You need a clearly articulated vision.

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Learning from your failures

Accounting Today

Here are some life lessons I've learned from dusting myself off in sports, academics and my accounting career.

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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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How Bad Accounting Can Impact Your Business Tax Return

LSLCPAs

Accounting is more than just number-crunchingit’s the foundation of your financial stability and success. Yet, for many individuals and businesses, poor accounting practices lead to unnecessary stress, missed opportunities, and even costly tax consequences. If youve ever felt overwhelmed by your financial records or rushed to prepare your tax return at the last minute, this.

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Top Remote Accountants of the Week | January 9, 2025

Going Concern

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.

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Murph's 2025 Cybersecurity Software Survey Part 1

Insightful Accountant

Murph is back with his survey of various Cybersecurity software and hardware, ranking them into a composite five point score. In this edition (part 1) he reveals his Top 20 Anti-virus applications.

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M&A roundup: Big firms get bigger

Accounting Today

EisnerAmper merges in HDA Accounting; BDO USA adds Blue Beyond Consulting; and Brady Martz welcomes Green & Miller.

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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 Much is a ProAdvisor Worth?

Insightful Accountant

It's been several years since an "Average Billing Rate Survey" was conducted for the ProAdvisor community. We are asking for your participation in this (non-scientific) survey of billing rates and methods.

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IRS, Treasury finalize rules for clean energy investments in low-income communities

Accounting Today

The Treasury Department and the Internal Revenue Service have released final rules and procedural guidance for the Section 48E(h) Clean Electricity Low-Income Communities Bonus Credit Amount Program.

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Embracing AI and Advisory Roles: Profit First with Debra Angilletta

Insightful Accountant

Join host Gary DeHart in an insightful conversation with business advisor Debra Angilletta, renowned for implementing the Profit First system in over 300 companies.

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AAM opens marketing award nominations, launches business development award

Accounting Today

The Association for Accounting Marketing is accepting nominations for the 2025 Marketer of the Year Award and launched the Business Developer of the Year award.

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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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Ramp Rolls Out Integration with Workday Financial Management

CPA Practice

The integration, announced on Jan. 9, streamlines and automates accounting processes to help shared customers close the books more quickly and accurately.

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Net at Work buys Sage and Acumatica practices from e2b

Accounting Today

Business and tech consultancy Net at Work has acquired the Sage and Acumatica practices of accounting and ERP product reseller and developer e2b teknologies.

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FAF Looks to Fill Key Leadership, Advisory Roles

CPA Practice

The open positions include chair and members of the Financial Accounting Foundation board of trustees, FAF executive director, aFinancial Accounting Standards Board member, and chair of theFinancial Accounting Standards Advisory Council.

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Extra filing time granted for Carter remembrance

Accounting Today

Any returns or payments due on Jan. 9 can be sent in on Jan. 10.

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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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IRS Reminder: Final 2024 Quarterly Estimated Tax Payment Due Jan. 15

Insightful Accountant

The Internal Revenue Service today encouraged taxpayers who paid too little tax in 2024 to make a fourth quarter estimated tax payment on or before Jan. 15, 2025.

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Accounting Firm Business Plan (Free Template + Instructions)

Ryan Lazanis

Use this accounting firm business plan template to get clear on where you want your firm to go and how you'll get there. The post Accounting Firm Business Plan (Free Template + Instructions) appeared first on Future Firm.

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UBS set to settle Credit Suisse US tax evasion case, WSJ reports

Accounting Today

UBS Group is close to making a settlement of at least hundreds of millions of dollars over violations by Credit Suisse of a decade-old agreement with the DOJ.

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4 Legal Elements of Fraud

FraudFiles

Tracy talks about the definition of fraud, and the four legal elements that are generally required. Laws vary from state to state, so you can see some variation here, but this is the textbook definition. The elements of fraud include: intentional misrepresentation, knowledge of the falsehood, reliance on the fact, and damage as a result. [.

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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.