Fri.Nov 08, 2024

article thumbnail

Navigating the crossroads of tax technology

ThomsonReuters

T ax and accounting firms are rapidly approaching a crossroads when it comes to tax technology. F irms are more focused on technology than ever before, but according to the Tax Firm Technology report, they lack the personnel and workflow infrastructure to achieve true technological success. The future of the tax and accounting industry is being written today — ensure your firm is ready to lead the way.

Tax 52
article thumbnail

Don’t Settle for Less: What True Enterprise xP&A in Power BI Demands

Acterys

As xP&A and write-back solutions in Power BI gain traction, more vendors are entering the field, each claiming to offer “enterprise” solutions. Some even tout their products as the “Ferrari” of the industry, though the comparison often feels more like a toy car stacked up against the real thing. True enterprise-grade xP&A solutions require specific core functionalities to meet rigorous demands, especially when supporting over 100 concurrent users.

audit 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

ITA Announces New Members at Fall Collaborative

CPA Practice

The Information Technology Alliance (ITA), an independent membership association of leading mid-market technology professionals, consultants and product/service providers in North America, announced its new member firms during this week’s ITA Fall Collaborative in Indian Wells, including: Stellar One , providing a fast, reliable way to deploy and use an ERP system, featuring a unique subscription-based approach for cloud ERP software that puts businesses in control of costs and outcomes.

Oklahoma 108
article thumbnail

Keeping an eye on DEI

Accounting Today

As the conversation around diversity, equity and inclusion evolves, firms find themselves in a complex dance where the music occasionally skips a beat.

115
115
article thumbnail

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

article thumbnail

Review of TaxGPT – The Accounting Technology Lab Podcast – Nov. 2024

CPA Practice

Brian Tankersley, CPA, and Randy Johnston review TaxGPT , an AI-powered tax assistant for accountants & tax professionals. The tech and accounting professionals that developed the TaxGPT co-pilot system says it can boost productivity by 10x. Watch the video, or listen to the audio podcast below (transcript below): Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.

article thumbnail

One Quarter of Firms Say They’re Offshoring, Another 12 Percent Plan to Start

Going Concern

This Journal of Accountancy article was mentioned in last Friday’s Footnotes (*ahem* Footnotes a wrap-up of the week’s accounting news from other sources without the sassy GC commentary and is published every Friday at 5 pm Eastern) but honestly it deserves its own article in case anyone missed it. In “Offshoring for CPA firms: The hows and whys,” JofA throws out some figures on outsourcing — both foreign and domestic — based on responses from its MAP survey a

More Trending

article thumbnail

Tech news: Sikich rolls out AI studio

Accounting Today

Plus, Thomson Reuters integrates AI CoCounsel with tax solutions; Sovos introduces 1099 Professional solution; and other accounting tech updates.

article thumbnail

Ensuring Success 2024 – CPAs Can Earn Up to 14 Hours of Free CPE in December

CPA Practice

From your desk, you can earn up to 14 hours of free CPE credits (pick the sessions you want) on Dec. 18-19, 2024, during our live streaming event at [link]. – The end of the year is almost here, and that means you need to check if you have all of your CPE requirements completed. I know a lot of us have just gotten out of extension season, and then the election, but if you need to complete some more CPE this year, how about joining us at Ensuring Success , the largest annual online live-streaming

cpas 99
article thumbnail

The Delegation Mindset: Empowering Your Construction Team

Randal DeHart

Delegation is a skill often discussed but rarely mastered, especially by small construction business owners wearing multiple hats. The balancing act of managing daily operations while pushing for growth can be overwhelming. Imagine if you could free up hours in your day to focus on strategic decisions rather than getting bogged down in every minute detail.

article thumbnail

Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

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.

Florida 96
article thumbnail

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.

article thumbnail

Taxpayer Advocate criticizes IRS move to shorten third-party notice requirements

Accounting Today

National Taxpayer Advocate Erin Collins is objecting to proposed regulations that would enable the IRS to shorten its notice requirements from 45 days to as little as 10 days.

Tax 80
article thumbnail

How GenAI is transforming ESG reporting and compliance

ThomsonReuters

Highlights: Growing importance and data demands of ESG : The increasing significance of ESG compliance is overwhelming teams with expanding data demands and regulatory scrutiny. GenAI’s role in ESG management : GenAI is revolutionizing ESG management by automating tasks, accelerating data collection, and providing advanced data analysis. Use cases and benefits of GenAI in ESG : Real-world examples show GenAI’s essential role in meeting ESG obligations, ensuring long-term resilience

article thumbnail

Dive into QuickBooks Bill Pay: A Comprehensive Guide from the Experts

SchoolofBookkeeping

NOTE: This is an excerpt from Intuit's "In The Know" Webinar Series that covers new and upcoming features in QuickBooks Online. You can register for the series here. Introducing Carla Caldwell In the August 2024 "In The Know" webinar, Intuit welcomed Carla Caldwell, a renowned firm leader, ProAdvisor, and trainer, to dive deep into QuickBooks Bill Pay.

article thumbnail

Announcing “Accounting Explained,” a new podcast for introductory accounting featuring Professors Jill Mitchell and Wendy Tietz

Wendy Tietz

Greetings! I am excited to announce that Professor Jill Mitchell and I have teamed up to create a series of podcasts for introductory financial accounting. Our podcast is called “Accounting Explained.” Accounting Explained podcast episodes will generally be short (eight to ten minutes) and are designed for students in introductory accounting.

article thumbnail

Solve Your Firms 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.

article thumbnail

Accelerate Growth with a Business Forecast

Summit CPA

As a small business owner, you probably employ either a bookkeeper, accountant, or fractional CFO to keep track of your business’s financials. The financial statements these financial professionals generate give you insights into the performance of your business in the recent past. While this is essential to understand, it’s equally important to take these insights and use them along with financial and non-financial drivers to generate a business forecast.

article thumbnail

[New Accounting Explained podcast episode] Topic: Features of a corporation

Wendy Tietz

The first episode of Accounting Explained has now been released. In this episode, we discuss the features of a corporation, including the advantages and disadvantages. You can access this podcast episode at this link. Background: Professor Jill Mitchell and I have teamed up to create a series of podcasts for introductory financial accounting.

article thumbnail

How to Automate User and Device Provisioning for Onboarding with Hire2Retire and Withum

Withum

Every organization needs to onboard new hires, so any organization can significantly benefit from streamlining its onboarding procedures. As remote work has become common in recent years, HR and IT departments everywhere are navigating new challenges in effectively managing employee onboarding. Teams that are often understaffed lack the skilled resources to manually keep up with demand, leading to delays and errors in provisioning and system access that cause a poor experience for new hires.

52
article thumbnail

Autumn Budget 2024

Menzies

Menzies LLP - A leading chartered accountancy firm. In this podcast, Menzies look at the Autumn Budget Breakdown 2024, with speakers Jonathan Bass, Partner, Business Recovery, Matt Watkins, Tax Disputes & Disclosures Director, Helen Cuthbert, Partner, Private Client and Stephen Hemmings, Partner, Business Tax. Meet the speakers Partner Jonathan Bass About Jonathan Bass Director Matthew Watkins About Matthew Watkins Partner Helen Cuthbert About Helen Cuthbert Partner Stephen Hemmings About St

article thumbnail

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.

article thumbnail

Small Language Models vs Large Language Models in Generative AI

Withum

In the ever-evolving landscape of technology, generative artificial intelligence (GenAI) is seen as a game changer for enterprises. Generative AI for business is changing enterprise operations, from streamlining processes to boosting productivity and transforming everyday workflows. According to a McKinsey Global Survey , 65% of respondents reported that their organizations are regularly using GenAI, nearly double the percentage from the previous survey conducted just 10 months ago.

Gaming 52
article thumbnail

ZBS Group Acquires Saul Rosenberg CPA in New York

CPA Practice

Plainview, NY-based accounting firm ZBS Group has acquired fellow New York-based firm Saul Rosenberg CPA, effective Nov. 6. Financial terms of the deal weren’t disclosed. The move will significantly enhance ZBS’s portfolio and expand its service offerings to a broader base of clients, the firm said in a media release. “We are excited to welcome Saul Rosenberg into the ZBS Group family,” Michael Zaidman, tax partner at ZBS Group, said in a statement.

article thumbnail

PCAOB revokes Chinese firm's registration

Accounting Today

The Public Company Accounting Oversight Board settled a disciplinary order sanctioning JTC Fair Song CPA Firm for repeatedly violating rules and failing to cooperate with the investigation.

article thumbnail

KNAV Merges in HLG Netherlands

CPA Practice

KNAV, an Atlanta-based global accounting firm and a top 300 firm in the U.S., has combined with HLG Netherlands, a firm that provides tax, assurance, and advisory services, effective Oct. 16. This merger builds on a five-year joint venture between the accounting firms, which was designed to serve KNAV’s multinational clients with subsidiaries in the Netherlands while giving HLG access to KNAV’s global talent pool.

article thumbnail

How To Optimize Cash Flow: Your Roadmap To Resilience!

Speaker: Genevieve Hancock, CPA

Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?

article thumbnail

Let us honor Veterans Day and our Veterans

Insightful Accountant

Insightful Accountant would like to say "Thank You" to all who have honorably served our country in times of war and peace.

article thumbnail

On the move: Whitley Penn names next CEO

Accounting Today

NASBA announces 2024-25 board of directors; HCVT adds pair of partners; and more news from across the profession.

52
article thumbnail

Challenges and opportunities for global trade professionals in a new Trump era

ThomsonReuters

As Donald Trump assumes the presidency again, global trade professionals are confronted with a complex and uncertain landscape. Trump’s past policies and rhetoric suggest significant changes in the global trade environment, which could have far-reaching implications for international markets and economies. This blog explores the potential impacts of the new presidency on global trade, the role of trade professionals in this evolving scenario, and key areas of focus including the De Minimis

article thumbnail

Report calls for fair value accounting on federal loans

Accounting Today

The National Taxpayers Union Foundation issued a report saying that federal credit programs are costing taxpayers tens of billions of dollars more than stated because the federal government isn't using fair value accounting.

article thumbnail

Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

article thumbnail

Trump plans to dismantle Biden's climate law. It won't be easy

Accounting Today

Although no Republicans voted for the measure two years ago, some of its incentives, such as tax credits for producing hydrogen and capturing carbon dioxide, are very popular with oil companies and other core GOP constituencies.

Tax 52