AccountingDepartment

APRIL 10, 2024

In the competitive world of small business, every decision can determine the trajectory of success or failure. One concept that lies at the heart of strategic business decisions but is often overlooked is opportunity cost. It's not just an economic theory; it's a practical metric that every small business owner and entrepreneur should master to make better choices and drive competitive advantage.

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NetSuite bookkeeping Account accounted 83

Withum

APRIL 10, 2024

In a recent development that underscores the dynamic landscape of Artificial Intelligence (AI) within government, the U.S. House has blocked the utilization of Microsoft’s Copilot by its staff, representing a noteworthy chapter in the ongoing narrative of AI’s journey through the hype cycle. Just as AI approaches the summit of the Peak of Inflated Expectations, there emerges a concerted effort, notably from the media, to hasten its descent into the Trough of Disillusionment.

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Government 131

Accounting Today

APRIL 10, 2024

The board imposed its largest-ever penalty of $25 million against KPMG's firm in the Netherlands, in addition to $2 million in fines against Deloitte's firms in Indonesia and the Philippines.

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audit Account accounted accountant 128

CTP

APRIL 10, 2024

In a previous blog , we discussed the benefits of the 1031 exchange. This IRS rule allows property owners to defer capital gains taxes when they trade a property for a like-kind property. So if your client has a property that is used for business or held as an investment and exchanges it for another property that is used for business or held as an investment, they may qualify for 1031 treatment.

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Real Estate Tax tax planning tax return 105

Advertiser: Paycor

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

payroll

Accounting Today

APRIL 10, 2024

Plus, Google is making massive changes to Chrome, AI-powered tax chatbots aren't performing well, and seven other things that happened in technology this past month.

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Technology Tax 128

Insightful Accountant

APRIL 10, 2024

Accounting profession faces staffing shortages due to fewer graduates and an aging workforce. 42% of firms turn away work, 24% near burnout. First-time CPA exam candidates dropped by 33% from 2016 to 2021.

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accounted accountant Account CPA 105

CPA Practice

APRIL 10, 2024

Professionals newly joining the workforce in 2024 can expect an active hiring market, according to research from talent solutions and business consulting firm Robert Half. In a recent Robert Half survey, 65% of companies said they plan to hire entry-level professionals, generally defined as individuals with 0-2 years of experience, in early 2024. The Outlook for Entry-Level Professionals Hiring Plans by Field Administrative and customer support 76 % Legal 75 % Marketing and creative 72 % Fi

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auditor accounting and finance Legal Finance 98

Insightful Accountant

APRIL 10, 2024

Hotel Equities to implement NetSuite to help optimize business processes and improve visibility across its growing portfolio.

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NetSuite 105

CPA Practice

APRIL 10, 2024

The accounting profession is struggling to deal with a talent shortage. Fewer students are selecting accounting as a major, and those who do often opt for careers outside of public accounting. Compounding the problem, the AICPA estimates that roughly 75% of its members are at retirement age. This isn’t news to most firm leaders who are continually seeking innovative solutions to attract and retain talent.

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Technology accounting and finance cpas accounting standards 106

Accounting Today

APRIL 10, 2024

The International Accounting Standards Board has completed a new standard to give investors more readily comparable information about companies operating profits in one of the biggest changes to International Financial Reporting Standards in decades.

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international accounting standards accounting standards accountant accounted 78

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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.

Account

CPA Practice

APRIL 10, 2024

By Gail Cole. Like a number of foodstuffs, dairy products can be full fat, reduced fat, or 0% fat. Sales taxes on groceries operate in a sort of similar way. A few states go the full-fat route, applying the full state and local sales tax rate to groceries. Some states provide a partial sales tax exemption — the sensible 1% or 2% milkfat choice. And in numerous states, groceries are fat free (aka, fully exempt from sales tax).

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Oklahoma Sales Tax 85

Accounting Today

APRIL 10, 2024

A new report shows that, increasingly, the respondents in Public Company Accounting Oversight Board enforcement actions are firms, rather than individuals.

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accountant accounted Account audit 81

SkagitCountyTaxServices

APRIL 10, 2024

Lots going on this week. Namely… The tax filing deadline is Monday, April 15th. For any of our Mount Vernon business clients who haven’t yet reached out to us, we can still take you on by filing an extension on your behalf and then managing the filing after. But, remember, you still have to pay what you owe Tax Day or else you’ll wrack up penalties and fees.

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Non-Profits Tax CPA Finance 71

Going Concern

APRIL 10, 2024

Some not so good news coming out of University of Warsaw this month: people who work remotely, even part-time, are less likely to get raises and promotions. And it’s male WFHers who miss out most. This research is the first of its kind post-COVID, surely academia will be investigating the matter further for many years to come. The study abstract : Work from home (WFH) has been a part of the professional landscape for over two decades, yet it was the COVID-19 pandemic that has substantially

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accountant accounted Account 69

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.

Account

Accounting Today

APRIL 10, 2024

The firm may pursue its claims through an administrative office at the agency after agreeing with the federal government to dismiss its case.

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Tax Government 75

Basis 365

APRIL 10, 2024

A business’s ability to remain agile will ensure it can quickly adapt to emerging trends and opportunities. Agility is not only a mindset of the team but the infrastructure the business has built over the years. Bogging your business down with layers upon layers of employees and middle management can prevent you from seizing an opportunity faster than your competitors.

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bookkeeping accounts payable financial statements bookkeeping services 59

Accounting Today

APRIL 10, 2024

Failure to maintain an acceptable accounting system may result in the withholding of payments from the government to a contractor.

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Government accounting system accountant accounted 75

Accounting Insight

APRIL 10, 2024

Chaser, the leading credit management automation platform, announces a new integration with Microsoft Dynamics 365 Business Central (MS Dynamics), an all-in-one business management solution for small to midsize companies, empowering businesses to effortlessly manage their accounts receivable process, by using automation and AI. MS Dynamics is designed for small-medium enterprises to help them manage their finances, operations, sales, and customer service and is popular worldwide.

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accounting and finance Finance accountant accounted 59

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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.

financial statements

CPA Practice

APRIL 10, 2024

The American Institute of CPAs has submitted a letter to the Internal Revenue Service requesting simplified procedures for when taxpayers either fail to make a timely election out of automatic allocation of Generation-Skipping Tax (GST) exemption or make a section 2632(c) election inadvertently. These recommendations will simplify filing for taxpayers and practitioners and will reduce the administrative burden on the IRS as well.

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Tax cpas Legal 59

Withum

APRIL 10, 2024

Intuit recently announced the QuickBooks (QB) Desktop discontinuation, halting new subscriptions for several QB Desktop products after July 31, 2024. What does this mean for your business? In this on-demand webinar, we delve into the recent announcement and share the necessary knowledge and strategies to navigate this transition smoothly and effectively.

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quickbooks accounting software accountant accounted 52

Ryan Lazanis

APRIL 10, 2024

A lot of firms struggle with their marketing. In this episode, I shared a marketing strategy that might be inefficient but works. The post The Inefficient Marketing Strategy That Works appeared first on Future Firm.

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Account accounted accountant 52

CPA Practice

APRIL 10, 2024

This webinar will be held on Thursday, May 16, 2024 Sponsor: SafeSend Duration: 1 Hour Register Now With many technological and AI-powered advances coming to the tax and accounting profession, firms are looking to provide the best service for their clients, all while staying up to date, saving time, and cutting costs. Firms are looking for a solution that standardizes the tax workflow experience easily.

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Tax Indiana tax return Technology 52

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

Sales

LSLCPAs

APRIL 10, 2024

Transitioning to a new Enterprise Resource Planning (ERP) system can be a transformative experience for your local government agency. It can create efficiencies that most times were thought not possible. New accounting rules seem to be coming out of the woodwork that changes how our systems from 20 years ago were implemented to be used. The post Cleaning Up Your Records in Preparation for a New ERP System…Where to Start?

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cpas Government accountant accounted 52

CPA Practice

APRIL 10, 2024

A fine of $25 million to the Netherlands arm of Big Four firm KPMG for systemic exam cheating over a five-year period is the largest financial penalty doled out thus far by the Public Company Accounting Oversight Board (PCAOB), the U.S. audit regulator said on April 10. The PCAOB found that widespread improper answer sharing occurred in the firm’s internal training program and that KPMG Netherlands lied to the PCAOB about its knowledge of the rampant cheating.

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audit accountant accounted Account 52

Withum

APRIL 10, 2024

The surge in supply chain ESG data requests marks a critical shift in sustainability reporting. More than ever, companies are being asked to share their ESG data with business partners. While navigating this scenario may seem daunting and complex, it presents a substantial opportunity to strengthen relationships with customers, enhance brand reputation, and unlock various ancillary benefits by setting the stage for sustained success.

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Real Estate CPA audit Sales 52

CPA Practice

APRIL 10, 2024

The Public Company Accounting Oversight Board (PCAOB) issued a pair of proposals on April 9, one of which would require audit firms to publicly disclose several metrics —including the involvement of partners and managers on an audit, auditor workload, and auditor turnover—on a new form that would be accessible to investors. Erica Williams “Sound and consistent information bolsters confidence in our capital markets, and can drive audit quality,” PCAOB Chair Erica Williams said in a statement on T

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audit auditor public accounting accounting firms 52

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Dent Moses

APRIL 10, 2024

As housing prices and mortgage rates continue to escalate, many young people struggle to purchase their first home or upgrade. One option is for parents or family to finance the purchase of the home and hold a mortgage. The transaction is documented like a regular mortgage with monthly payments. Let’s look at the advantages: Favorable interest rates.

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Finance Tax Construction Account 52

Accounting Insight

APRIL 10, 2024

Accountex London is returning next month, on 15-16 May 2024. London’s ExCeL is expected to welcome over ten thousand accounting and finance professionals through its doors. The final two main stage programmes (Orbit and Horizon) have just been announced, and include sessions on everything from MTD for ITSA to personal branding. Visitors will get actionable advice and stay up-to-date from CPD-accredited seminar programme, that includes over 250 seminars by thought-leaders from the accountanc

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accounting and finance Tax Technology audit 52

Canopy Accounting

APRIL 10, 2024

For the accounting firm focused on maximizing profit and efficiency, antiquated practice management solutions that only meet a few needs are no longer sufficient for accounting firms. Having an operating system that seamlessly connects all processes within an accounting firm is crucial for maximizing efficiency and providing a superior client experience.

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accounting firms accountant accounted Account 52

CPA Practice

APRIL 10, 2024

insightsoftware (lowercase intentional), the most comprehensive provider of solutions for the Office of the CFO, today announced the launch of Power ON’s Budget Planner , a complete budgeting and planning solution that helps organizations create unified and structured budgets within Microsoft Power BI. Budget Planner consolidates the entire budgeting process into a single, centralized hub, eliminating the need for scattered spreadsheets and fragmented communication.

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Government 52

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.