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As the spring conference season has begun, connecting with long-term friends and making new acquaintances at the G400, BDO, and other events has been good. As of this writing, I’m particularly anticipating the CPA Practice Advisor Mashup event at AICPA Engage, where I’ll present a version of Tech Update, which is the motivation for this column. Perhaps watching the aurora borealis and other circumstances of this year has made me reflective, but I suspect it is the anticipation of what is new.
Commencing in 2024, individuals who possess short-term rentals (such as rentals facilitated by platforms like Airbnb) will be required to fill out the newly introduced Form BOE-571-STR, known as the Short Term Rental Property Statement, in order to disclose their business personal property. Business personal property is typically subject to annual reappraisal, unlike real property.
Are you a small business owner seeking expert guidance on accounting practices? Navigating the complexities of financial management is crucial to the success of any business. Establishing a core understanding of key accounting principles not only instills confidence but also ensures compliance with accounting and government regulations. Our checklist will guide you through some key items to consider when setting up your business and best practices for those already in operation.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
Sad? Sad prediction: AI and offshoring are going to wreck the accounting profession in the next decade. Combine that with the pain every company has with this function and it’s a recipe for economic disaster. — Michael Girdley (@girdley) May 14, 2024 There are two types of people: those who don’t find this sad (only accountants fall into this category) and those outside of the profession who think bookkeepers and payroll clerks (RIP) are what make up “the accounting profession.
Association for Accounting Marketing distributes slew of awards at annual AAM Summit; VSCPA announces officers and board of directors; and more news from across the profession.
Association for Accounting Marketing distributes slew of awards at annual AAM Summit; VSCPA announces officers and board of directors; and more news from across the profession.
You must know each employee’s hours worked to run payroll. To do that, you must calculate hours worked. So, what does the process of calculating hours worked look like? Learn how to calculate hours worked step-by-step below, plus get an in-depth example. *I don’t want to do the calculations.
Most businesses understand that customer satisfaction is crucial to their success. Happy clients are likelier to remain loyal, refer others, and leave positive reviews. This trend has only been amplified by social media and online review sites, where negative feedback can spread quickly and damage a company's reputation. In an increasingly competitive marketplace, more than an effective customer service system is needed: you must provide customers with a positive and memorable end-to-end experie
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Andrea engages in a candid conversation with ADC co-founder Bill Gerber, exploring the pivotal decision-making process behind delegating tasks for business growth.
A professional brings objectivity to dicey conversations between relatives as well as experience navigating the substantial work involved with transferring assets, experts say.
9 min read May 17th, 2024 Cash flow optimization is essential to the survival, growth, and success of every business. Healthy cash flow is so vital to business operations that mismanaged cash flow is the top reason businesses fail, according to the United States Chamber of Commerce.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Canopy, a firm-wide operating system that helps accounting firms, has raised $35 million in an oversubscribed round of venture funding. The round was led by Ten Coves Capital and Ankona Capital, with participation from Pelion Venture Partners, Tenaya Capital, and NewView Capital. The $35 million investment will be channeled towards doubling down on Canopy’s vision for leveraging AI to make firms exponentially more efficient.
Accounting Insiders guests Dawn Brolin and Rhonda Shurter from ADP. Rhonda, the Senior Director of Product Management at ADP, highlighted Accountant Connect features for industry trends and efficiency.
Karen Garcia Los Angeles Times (TNS) In the fifth straight week of layoff announcements, Tesla said it is now concentrating on reducing staff at its Bay Area facilities as part of a larger move to cut jobs globally. State filings show that Tesla is planning to lay off 378 employees at its Fremont, California, facilities and 233 at its Palo Alto offices.
Employee retention is a pivotal concern for organizations across industries, as high turnover rates can significantly undermine productivity, morale, and profitability. Human resource (HR) and payroll professionals play a crucial role in implementing strategies and leveraging data-driven insights to foster a positive work environment and mitigate attrition risks.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
London-based accounting and payroll solutions company IRIS Software Group said on Wednesday it had acquired Swipeclock, a provider of cloud workforce management solutions, such as WorkforceHub and ApplicantStack, for small and medium-sized businesses. Financial terms of the deal weren’t disclosed. Swipeclock, based in South Jordan, UT, will operate as an independent business within IRIS Software, according to a media release.
Nick Wooten The Dallas Morning News (TNS) North Texas is home to five of the 15 fastest-growing cities in the country, according to new data from the U.S. Census Bureau. Of cities and towns with a population of at least 20,000 people, Celina topped the list with a 26.6% population increase in the 12 months between July 2022 and July 2023. Its growth rate was more than 53 times higher than the nation’s growth rate of 0.5%.
The pursuit of a favorable CDP score has become a defining element of sustainability programming in businesses worldwide. Now, CDP has grown to over 23,000 corporations disclosing their environmental data annually, which includes over 80% of the Fortune 500. The factors fueling CDP’s becoming one of the most prominent sustainability reporting frameworks include a push for enhanced transparency in environmental reporting, companies setting ambitious sustainability goals and asking for suppo
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
Prior to the widespread adoption of ecommerce, handling sales and use tax was relatively feasible for businesses, especially those with limited customer bases or geographical scopes. This typically involved reporting to a small number of jurisdictions and dealing with occasional changes in sales tax rules or rates. Nevertheless, certain aspects of the process, such as managing sales tax exemption certificates, could still be intricate and difficult.
Prashant Gopal Bloomberg News (TNS) Mortgage rates in the U.S. eased further, relieving some pressure on buyers forging ahead in a tough U.S. housing market. The average for a 30-year, fixed loan was 7.02%, down from 7.09% last week, Freddie Mac said in a statement Thursday. It’s the fifth-straight week with mortgage rates above 7%. While the recent pullback helps to ease financing challenges for some buyers, mortgage rates are still double what they were in early 2022.
The Club for Growth Foundation, whose members have sparred with Trump advisors on economic policies, says its corporate tax cut plan — as well as a corresponding push for deregulation — are aimed at bolstering U.S. manufacturing.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
Hosts Randy Johnston and Brian Tankersley, CPA, look at MakersHub.ai , an automated AP system serving construction, construction services, industrial contractors, automation, and manufacturers, as well as bookkeepers and accounting professionals who serve these clients. Use the video player below to watch, or the podcast player below to listen to the podcast.
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