ThomsonReuters
OCTOBER 25, 2024
← Blog home When it comes to tax legislation, change is the only constant. While many accounting firms find a shifting regulatory environment to be a significant challenge, forward-looking firms are harnessing the latest technology to give their firm a competitive advantage. But how do you know where to start? Sometimes, the best business insights come directly from the clients you serve.
CPA Practice
OCTOBER 25, 2024
By Garrett Wagner, CPA. So, let’s get something out of the way: I’m “old” now. At over 40, I’m no longer the young buck, fresh out of college, wide-eyed and optimistic about the accounting world. I mean, I’ve reached that age where I squint at Gen Z’s TikToks and think, “This is what’s cool now?” But before I delve too deep into self-pity, let’s focus on something we can all agree on: we’ve all heard this same refrain since the dawn of time—“This new generation doesn’t get it.
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Accounting Insight
OCTOBER 25, 2024
A prestigious group of hotels has chosen UK-based iplicit’s award-winning cloud accounting software as the platform for running its finances. Cedar Court Hotels is the largest independent collection of four-star hotels in some of Yorkshire’s most desirable locations. The business has 35 years of experience in welcoming guests to the county, with hotels in Harrogate, Huddersfield, Bradford and Wakefield.
CPA Practice
OCTOBER 25, 2024
Cleveland-based Cohen & Co. is the latest to enter the private equity frenzy, as the top 50 accounting firm said on Oct. 25 that it has received a strategic growth investment from Lovell Minnick Partners (LMP), a private equity firm focused on investments in financial services, business services, and financial technology companies. Financial terms of the deal, which is expected to close on Dec. 31, weren’t disclosed.
Speaker: David Worrell, CFO, Author & Speaker
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Accounting Today
OCTOBER 25, 2024
Making sure your firm is well protected is critical for maintaining client trust.
CPA Practice
OCTOBER 25, 2024
Nearly two weeks after it was announced that top five U.S. accounting firm RSM US and the U.K. version of RSM are in “advanced discussions” to merge in a move that would further service their middle-market clients as they expand globally, top seven firm Grant Thornton US said on Oct. 24 that it was combining its tax and advisory business with its counterparts at Grant Thornton Ireland.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
OCTOBER 25, 2024
Hosts Brian Tankersley, CPA, and Randy Johnston review Liscio , a client experience platform that centralizes communication, document collection, and task management for accounting firms. Watch the video, or listen to the audio podcast below: Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.
Accounting Today
OCTOBER 25, 2024
Ernst & Young fired dozens of its U.S. staffers for taking multiple online training courses simultaneously, violating the firm's ethic's policies.
CPA Practice
OCTOBER 25, 2024
Small and midsized businesses are facing growing staffing challenges, as rising business costs and economic conditions are prompting potential layoffs, according to the Fall 2024 Main Street Index from top 15 accounting firm CBIZ. Fifty-one percent of SMB owners surveyed say they are evaluating or changing current staff levels and outsourced partners to prepare for a potential economic downturn.
Withum
OCTOBER 25, 2024
The power of education can transform lives. Explore Other Episodes #CivicWarriors #WithumImpact The post A Centennial Celebration With Central Scholarship Bureau appeared first on Withum.
Speaker: Dave Sackett
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.
CPA Practice
OCTOBER 25, 2024
Erica Williams was sworn in by the Securities and Exchange Commission for her second term as chair of the Public Company Accounting Oversight Board on Oct. 24. Her new five-year term officially begins today and lasts through Oct. 24, 2029. “I am honored and excited for the opportunity to continue working alongside my fellow board members and the talented and committed PCAOB staff to protect investors.
Accounting Today
OCTOBER 25, 2024
The Internal Revenue Service did little to stop fraudsters who used the Practitioner Priority Service Line to fraudulently claim nearly $462 million in refunds, per the Treasury Inspector General for Tax Administration.
Acterys
OCTOBER 25, 2024
As ESG considerations become more integral to business strategy, companies face significant challenges in collecting, managing, and reporting ESG data. That’s why ESG reporting tools are becoming an increasingly important piece of the enterprise tech stack. Fragmented data sources, evolving regulatory requirements, and rising stakeholder expectations are just a few of the obstacles that can make ESG reporting a complex endeavor — and one that many executives don’t feel prepared for.
Accounting Today
OCTOBER 25, 2024
Traphagen CPAs raises over $1K for American Cancer Society; KPMG appoints four partners to deal advisory & strategy practice; and more news from across the profession.
Speaker: Erroll Amacker
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
Menzies
OCTOBER 25, 2024
Menzies LLP - A leading chartered accountancy firm. What is BCorp? Certified B Corporations (BCorps) are businesses that meet high standards of social and environmental performance, accountability, and transparency. Administered by B Lab, a nonprofit organisation founded in 2006, the BCorp certification signifies that a firm is committed to balancing purpose and profit, prioritising both the well-being of people and the planet alongside financial returns.
Accounting Today
OCTOBER 25, 2024
Williams, who began her first term in January 2022, will now helm the Public Company Accounting Oversight Board through Oct. 24, 2029.
CPA Practice
OCTOBER 25, 2024
A Florida man has pleaded guilty to evading the payment of more than $1.7 million he owed for tax years 2004 through 2014. According to court documents and statements made in court, David Albert Fletcher, of Deltona, owned and operated several furniture liquidations businesses in Florida, including Century Liquidators. For tax years 2004 through 2013, Fletcher did not timely file his federal income tax returns or pay taxes.
Accounting Today
OCTOBER 25, 2024
The Top 50 Firm based in Cleveland is the latest to receive a private equity investment, in this case from Lovell Minnick Partners.
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Accounting Insight
OCTOBER 25, 2024
The three profits included in accounting textbooks: gross profit, operating profit and net profit are a good start for accountancy students. Limiting them to just three types of profit is intended to avoid overburdening young accountants at the beginning of their studies. If they told them up front that more than 15 different types of profit exist, our poor accounting students would all abandon their studies and probably open trendy wine bars instead.
Accounting Today
OCTOBER 25, 2024
Artificial intelligence is transforming how firms manage tax returns, communicate with clients and handle administrative tasks.
Randal DeHart
OCTOBER 25, 2024
Effective leadership is crucial for project success in the dynamically challenging construction environment. A Project Manager (PM) oversees operations, guides teams through day-to-day tasks, ensures effective communication, and maintains stakeholder alignment. As many of you, our readers and clients, are both wearing two hats - PM and Owner; it's essential to understand the advantages and disadvantages of taking on both roles.
Accounting Today
OCTOBER 25, 2024
Mariel Diaz's accounting practice is custom-made for her exclusively jewelry-industry clients.
Speaker: Anna Tiomina, MBA
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?
Going Concern
OCTOBER 25, 2024
We’ve been told by multiple sources that Citrin Cooperman (IPA Top 100 #19 with $674 million in revenue) laid people off this week but unfortunately details are sparse. If anyone has actual numbers or info on affected service lines, please get in touch. Citrin Cooperman is one of the several top 20 accounting firms to have sold a stake to private equity in recent years.
Accounting Today
OCTOBER 25, 2024
RSM announces "Catamaran" suite of outsourced solutions; Avalara announces AvaTax for Accounts Payable; Sage Copilot launches in US; and other accounting technology news.
Withum
OCTOBER 25, 2024
Generative AI has proven to be amazing at creating text – so good that it has been impossible to tell for sure whether the text has been written by a human or generated by AI. As we’ve seen, this has led to all sorts of problems, from widespread misinformation to students being falsely accused of plagiarism. Now, researchers at Google’s Deep Mind labs think they have come up with a solution: SynthID – a tool that writes and reads text watermarks – to finally have an answer for how to detect AI-g
Accounting Today
OCTOBER 25, 2024
Questions have been raised about how Crowdstrike accounted for the deal in its financial statements.
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Going Concern
OCTOBER 25, 2024
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.
Menzies
OCTOBER 25, 2024
Menzies LLP - A leading chartered accountancy firm. HR update: Need to know From 26 October 2024, all employers in England and Wales will be under a duty to take reasonable steps to prevent sexual harassment in the workplace (the preventative duty). The Equality and Human Rights Commission (EHRC) has provided guidance on this preventative duty. What does this mean?
Withum
OCTOBER 25, 2024
While President Trump’s tax proposals maintain many of the current provisions for individuals and businesses, the impact of the proposed tariff increases on the existing federal budget deficit, individual income taxpayers, and theglobal economy remains unclear. A recent study conducted by the Tax Foundation found that the Trump tax policy will provide a larger relative benefit to higher-income taxpayers, while his major proposed offset of higher import tariffs has a larger impact on lower—
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