Tue.Jun 04, 2024

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Here’s How Mid-Tier Accounting Firms Are Feeling About the Talent Crisis and Remote Work

Going Concern

Last week, I wrote a way too long piece on the Institute of Chartered Accountants in England and Wales (ICAEW)’s recent report “ Evolution of mid-tier accountancy firms.” Through a survey of managing partners at mid-tier firms across the pond, ICAEW took their temperature on five topics most impacting accounting firms of all sizes in current year: Firm structure and operational model Leadership and culture Talent Technology Financial performance and service lines See: Here’s Ho

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Good Payroll Practices are Essential for Growing Startups

BurklandAssociates

Effective payroll management ensures compliance, enhances employee satisfaction, and provides a strong foundation for sustainable growth. The post Good Payroll Practices are Essential for Growing Startups appeared first on Burkland.

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The 2024 Billion-Dollar Wealth Magnets

Accounting Today

The leading CPA financial planners with over $1 billion in assets under management, from Accounting Today's annual ranking.

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2024 Most Powerful Women in Accounting Awards Announced

CPA Practice

The American Institute of Certified Public Accountants and CPA Practice Advisor have announced the recipients of the ‘Most Powerful Women in Accounting’ awards, now in their 13th year, which recognize leaders for their significant contributions to the profession. The 2024 awards were presented on the main stage at during the AICPA ENGAGE conference at the Aria Resort and Casino in Las Vegas on June 4, 2024.

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Building a Business Case for Finance Automation

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 automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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IESBA to focus on sustainability, culture, governance in 2024

Accounting Today

The report highlights the International Ethics Standards Board for Accountants' yearly accomplishments and outlines future plans, like focusing on sustainability.

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Why Gen Z Is Opting Out of the 9-to-5 Job Grind

CPA Practice

By Kit Eaton, Inc. (TNS) Gen Z workers aren’t just the youngest folks in the office. They’ve got a radically different approach to how they make a living than preceding generations. Consider fresh data from the freelancer networking company Upwork to see why. Its new survey shows many Gen Z workers are basically shunning traditional office work norms altogether.

More Trending

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How Small Law Firms Can Use Generative AI to Boost Business

Cherry Bekaert

Hundreds of law firms of all sizes are investing in artificial intelligence (AI) tools to boost productivity and gain new business, which may provide a competitive edge for smaller firms. While artificial intelligence itself is not new to the legal field, lawyers are increasingly adopting the use of generative AI, a type of artificial intelligence that can create new content and ideas, including text, software code, images, synthetic data and more.

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Fieldguide expands into financial audit

Accounting Today

Fieldguide announced the release of Fieldguide for Financial Audit.

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5 Benefits of Working With a Fractional CFO

Withum

Chief Financial Officers (CFOs) play a pivotal role in supporting businesses’ ongoing success and growth. CFOs guide financial decisions for the company by analyzing a company’s financial position. These responsibilities include cash flow management, financial planning and analysis, supervising finance personnel, choosing investment strategies and ensuring compliance with laws and company policies.

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Which states tax capital gains the most?

Accounting Today

State tax rates on capital gains vary across the country.

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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.

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Forbes Launches Westminster Dog Show But for CPAs

Going Concern

Who will take home Best in Show? I mean Best in State ? It remains to be seen. Forbes is now accepting nominations for its first Best-in-State CPAs list (not to be confused with America’s Top 200 CPAs ) which, according to them, is “a recognition designed to highlight this year’s the most exceptional, practicing CPAs throughout America—the elite of the accounting profession.” “Our aim is to identify the CPAs who have earned the respect of their peers and have demonstrated remar

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Election anxiety: Financial planners and the presidential race

Accounting Today

Keeping clients from making impulsive changes is an election priority for top CPA financial planners — but so is figuring out the long-term regulatory impact.

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How to Create a Cybersecurity Incident Response Plan: Examples of What to Include

Anders CPA

Protecting your business from cyber threats is no longer optional. With the rise in cyberattacks and the potential for devastating consequences, it’s crucial to have a solid cybersecurity incident response plan in place. More than just an incident response plan, you’ll need to create a cybersecurity culture that keeps employees educated about their role in the plan, prepare necessary documents and select the right cybersecurity-focused managed services partner.

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ChatGPT scores 60% accuracy on financial statement analysis

Accounting Today

ChatGPT accurately predicted earnings directions 60% of the time versus 52.71% for human analysts.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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Peeling Back the Curtain on the Vendor/Firm Relationship

Insightful Accountant

Late spring to early summer is perfect for reflecting on practices and upgrading tech. Partnering with tech vendors can improve accounting. Aligning vision and goals with consultants is key for maximizing tech benefits in accounting.

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Small businesses added more jobs in May, but wage growth slowed

Accounting Today

Hourly earnings growth for employees slid to their lowest level since the middle of 2021, according to Paychex.

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U.S. Job Openings Fall to Lowest Level Since 2021

CPA Practice

By Jarrell Dillard, Bloomberg News (TNS) U.S. job openings fell in April to the lowest level in over three years, consistent with a gradual slowdown in the labor market. Available positions decreased to 8.06 million from a downwardly revised 8.36 million reading in the prior month, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS, showed Tuesday.

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Utilizing the IRS's Alternative Dispute Resolution Process

Insightful Accountant

IRS's ADR process is a valuable tool for resolving disputes efficiently. Options include mediation, arbitration, and Fast Track Settlement program for quicker resolution than standard appeals.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Avani Desai, CPA – 2024 Most Powerful Women in Accounting

CPA Practice

Avani Desai, CPA 2024 Most Powerful Women in Accounting CEO Schellmann & Company, LLC How have you personally seen the roles of women evolve in the accounting profession ? Over the course of my professional journey, I’ve witnessed significant evolution in the roles of women within the accounting profession. Initially, advancing while balancing family responsibilities proved challenging, especially as few women, particularly women of color, held leadership positions in accounting firms.

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The Power of Process Mapping in Digital Transformation

Menzies

Menzies LLP - A leading chartered accountancy firm. In the realm of digital evolution, process mapping emerges as a pivotal tool driving successful change and efficiency within organisations. This article aims to provide businesses with the fundamentals of process mapping, its significance in digital transformation, the importance of continuous improvement, and practical steps for implementation.

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AAA takes stewardship of Two-Year Bridge Symposium

Accounting Today

Stewardship and administration of the educational initiative is being transferred from North Carolina Agricultural and Technical State University to the American Accounting Association Foundation.

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Want to 'migrate' back to QB Desktop?

Insightful Accountant

Murph discusses 'migrating back' from QuickBooks Online to QuickBooks Desktop, and points you to an earlier article on a helpful App to accomplish the goal.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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In the blogs: Big pictures

Accounting Today

Our confusing Tax Code; IRS mail problems; disaster victims' deadline; and other highlights from our favorite tax bloggers.

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Ethereum ETF Approval: A Major Victory for Crypto Adoption

Withum

In a groundbreaking move, the U.S. Securities and Exchange Commission (SEC) has approved the first spot Ethereum exchange-traded funds (ETFs), marking a significant milestone for the cryptocurrency industry. This landmark decision paves the way for asset managers like Grayscale, Fidelity, and Bitwise to launch ETFs, allowing investors to indirectly hold Ethereum (ETH) as investment, further solidifying its status as a commodity.

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M&A roundup: NDH, Kostelanetz and Avantax expand

Accounting Today

NDH acquired McGowan Guntermann; Kostelanetz combined with Welty; and Avantax added Erin Hinzmann.

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Adopting a growth mindset: Setting achievable accounting firm goals

ThomsonReuters

In today’s fast-paced business landscape, accounting firms face constant pressure to increase efficiency, upskill staff , and meet increasing client demands. To successfully navigate these challenges, firms must adopt a growth mindset which includes leveraging advanced technologies like AI-powered tax software, implementing effective time management techniques, and setting achievable goals.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Doeren Mayhew Adds Nearman, Maynard, Vallez CPAs in Miami

CPA Practice

Top 60 accounting firm Doeren Mayhew said on Monday that it has positioned itself to be the No. 1 credit union auditing firm in the country after acquiring Miami-based CPA firm Nearman, Maynard, Vallez. Financial terms of the deal weren’t disclosed. Nearman, Maynard, Vallez CPAs’ four partners— Chris Vallez, Jennifer Hoskins, Ellen Vargo and Lynn Franzosa—are now principals at Doeren Mayhew and, along with their employees, will join the firm’s Financial Institutions Group practice.

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The Power of Delegation: HR Insights and Leadership Strategies

Summit CPA

Vicky Brown, HR consultant and Founder of Idomeneo Enterprises, joins Jamie and Jody to discuss all things HR, especially the art of delegation.

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Danielle Supkis Cheek, CPA, CFE, CVA – 2024 Most Powerful Women in Accounting

CPA Practice

Danielle Supkis Cheek, CPA, CFE, CVA 2024 Most Powerful Women in Accounting Vice President, Head of Analytics and AI Caseware What is your favorite part of being a member of the accounting profession? Flexibility! This manifests in several ways, from the variety of career paths available to the adaptability of work environments and schedules. This allows those in the profession to have a career that is sustainable, continually engaging, and ever-changing.

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How Do You Maximize Your Social Security Benefits?

LSLCPAs

Let’s talk about how to maximize social security benefits. It is vitally important that you start planning early and know the ins and outs of SSA (Social Security Administration) to ensure a comfortable retirement with maximum payments. Timing is everything, and life seems to be more expensive every day. Taking Social Security benefits too early.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.