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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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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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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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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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.

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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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Dear CFOs, the accountant shortage isn't going away

Accounting Today

It's time for finance leaders to make some tough decisions about the future of accounting and finance functions.

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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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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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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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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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Fieldguide expands into financial audit

Accounting Today

Fieldguide announced the release of Fieldguide for Financial Audit.

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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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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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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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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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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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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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Which states tax capital gains the most?

Accounting Today

State tax rates on capital gains vary across the country.

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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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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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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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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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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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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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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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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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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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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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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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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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Ebonie Jackson, CPA, CGMA – 2024 Most Powerful Women in Accounting

CPA Practice

Ebonie Jackson, CPA, CGMA 2024 Most Powerful Women in Accounting SVP, CFO, Group Small Business Bank, Bank of America [link] What is your favorite part of being a member of the accounting profession? I find excitement in the varied nature of my work, from the analytical depths of scenario analysis to the creative challenge of transforming numbers into stories that captivate and inform.

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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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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.