Tue.May 14, 2024

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How tax and accounting pros can navigate climate disclosures

Accounting Today

Reliable data is the foundation of effective climate-related disclosures, and audit and tax professionals' experience is essential in supporting this data's integrity.

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Taxes for Early-Stage Startups: What Do I Have to Pay?

BurklandAssociates

Staying on top of corporate taxes, payroll taxes, sales tax, and other tax obligations is a vital aspect of running a successful startup. The post Taxes for Early-Stage Startups: What Do I Have to Pay? appeared first on Burkland.

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Trending Sources

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IRS warns of new tax scams spread by social media

Accounting Today

The Internal Revenue Service cautioned consumers to beware of inaccurate advice which prompted thousands of taxpayers to file overblown claims and held up their refunds.

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CPAs Provide Six Ways to Replenish the Talent Pipeline

CPA Practice

As the accounting profession continues to grapple with a shortage of new CPAs and fewer accounting graduates , an independent national advisory group has published six draft recommendations in a new report on what the profession can do to restock its pipeline with young talent. “The talent shortages of the past several years, coupled with strong demand for professional accountants, have created challenges throughout the profession.

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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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IRS cuts PTIN fees

Accounting Today

The Internal Revenue Service published final regulations officially lowering the fees for new Preparer Tax Identification Numbers and renewed PTINs.

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Mischievous Deloitte Partner on Why ‘Keep Doing What You’re Doing’ Is the Worst Career Advice

Going Concern

Financial Review has profiled Deloitte Australia boss Adam Powick and we’re choosing to ignore the ongoing drama over there on that side of the world to instead latch onto this bit of advice he offered not only aspiring partners but really anyone who seeks to get ahead at work. He may be CEO now but unlike some naturally talented, born-to-lead handshakers, he didn’t get there right away.

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How Bookkeepers & Accountants Can Overcome Imposter Syndrome

Nancy McClelland, LLC

Recently, I had the pleasure of joining Adam Lean of The CFO Project on his podcast, “ Escaping the Accountant’s Trap ,” to discuss imposter syndrome — what it really means, how to know if you have it (or are simply learning something new), and practical tips for overcoming those feelings of being a fraud. I also share my perspective on why imposter syndrome disproportionately affects women and minorities, the difference between self-doubt and truly being an imposter, and

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NYU to Host Federal Real Estate and Partnerships Tax Conference

CPA Practice

The NYU School of Professional Studies Division of Programs in Business will host the 2024 Federal Real Estate and Partnerships Tax Conference at the Mayflower Hotel in Washington, DC, from June 6 to 7. Attendees engage in two full days of advanced-level learning designed for accountants, attorneys, and tax and real estate professionals involved in the planning and transactional work related to partnership and real estate taxation.

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Regulatory, Tax and SOX Compliance for Biopharmaceutical Company Expanding U.S. Presence

Cherry Bekaert

When a United Kingdom-based company moved its headquarters stateside, leadership partnered with Cherry Bekaert to assist with compliance and regulatory requirements, and for guidance on future audit preparation. Company Background The company is a clinical-stage biopharmaceutical business developing a solution for chronic respiratory illness that aims to obtain approval as a maintenance drug in the United States.

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Intuit Appoints Vasant Prabhu to Board of Directors

Insightful Accountant

Intuit, Inc. has appointed Vasant Prabhu, former Chief Financial Officer and Vice Chairman of Visa, to its board of directors.

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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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Top 5 Best Accounting Softwares for Marketing Agencies

GrowthForceBlog

8 min read May 14th, 2024 For the modern, growing marketing agency, accounting software is necessary for running a financially healthy, compliant, and successful business. Key Takeaways Project-Based Accounting: Marketing agencies generate revenue based on projects and individual client relationships. As a result, project or client-based accounting capabilities are a must… Sage Intacct: Sage Intacct is one of the most customizable accounting software suites available on the market.

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2 Promotions to Associate at Wellers

Wellers Accounting

Simon Smith FCCA celebrates the promotion of Mike Webb and Doug Saunders to the position of Associate.

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Defending IRS Cash-Based Audits – Guilty Until Proven Innocent: Computing Income

Withum

As discussed in our previous article, The Case for Using a Forensic Accountant , confronting the prospects of a cash-based audit is fraught with potential traps and exposure to civil and criminal penalties, including incarceration. Understanding the government’s process and having the information to respond quickly will make the process smoother. The goal should be to demonstrate that all income has been reported and, if that is not possible, keep the review in the civil realm.

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PCAOB resets agendas as standards fall into place

Accounting Today

The Public Company Accounting Oversight Board updated its standard-setting, research and rulemaking agendas to reflect recent progress on modernizing the its older standards and rules.

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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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New PCAOB Rules Would Push Auditors to Assemble Final Documentation More Quickly

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) approved a sweeping new standard on the general responsibilities of an auditor on May 13, including a provision that significantly cuts the maximum time period for the auditor to assemble a complete and final set of audit documentation from 45 days to 14 days. Over the years, technology has enabled auditors to transition from paper-based audit documentation to electronic workpapers, which takes them less time to complete the final set of audi

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KKR taps private credit loan for Australian software firm MYOB

Accounting Today

KKR & Co. is in talks for a new loan with private credit lenders for MYOB, an Australian accounting software firm that the private equity giant acquired in 2019, people familiar with the matter said.

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PCAOB Replaces Old Quality Control Rules With a New Standard

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) has overhauled its decades-old quality control requirements for audit firms by adopting a new standard on May 13 designed to put the onus squarely on auditors and executives. The new standard, which the board approved by a 4-1 vote on Monday, would require all PCAOB-registered accounting firms to identify their specific risks that would inhibit audit quality—like the use of technology-based auditing tools that could create new risks if they d

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How to Develop a Company-Wide AI Policy for ChatGPT and Other Generative AI Tools

Anders CPA

Generative AI technology, such as ChatGPT, Microsoft Copilot, DALL-E and more, has the potential to revolutionize industries and enhance business processes, but it also comes with risks and ethical considerations that must be carefully addressed. To ensure responsible and effective use of generative AI within your organization, it is crucial to establish a clear policy that outlines guidelines for its implementation.

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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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Avalara Honored as 2023 BigCommerce Tech Partner Award Winner

CPA Practice

Avalara, Inc. , a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced that the company has been named BigCommerce 2023 Americas Tech Partner of the Year for seamlessly solving tax compliance challenges for ecommerce merchants. The BigCommerce Global Partner Awards recognize the top-performing partners among BigCommerce’s global network of thousands of agency and technology partners in its open ecosystem.

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Leverage Voice of the Customer Analyses in Commercial Due Diligence to Amplify Post-Acquisition Growth

Cherry Bekaert

Applying voice of the customer (VoC) analyses at the beginning of the investment lifecycle can provide qualitative data on consumer behavior to inform investment decisions and post-transaction strategies. By integrating VoC methodologies within traditional due diligence processes, organizations can make better strategic decisions to validate the deal thesis and drive post-acquisition growth.

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AI makes zero-based budgeting a practical finance tool

Accounting Today

The convergence of machine learning, generative AI and autonomous sourcing gives organizations the ability to realize most of the ZBB ideal.

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The 2024 Federal Budget recap for small businesses!

Reckon

Right! There we have it folks – the Federal Budget for 2024 has dropped with a host of measures that look good for business owners and individuals, as well as some omissions that people were looking for in our pre-budget poll. When we took a poll last week to gauge the temperature of small business owners ahead of the budget, we were able to home in on the most and least important budget inclusions.

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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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U.S. Retail Sales Saw Increase in April

CPA Practice

Retail sales grew modestly from the month before in April, but a shift in the timing of Easter appeared to be behind a slight year-over-year decline, according to the CNBC/NRF Retail Monitor , powered by Affinity Solutions and the National Retail Federation. “Consumer spending continues to drive economic growth and retail sales increases, though we see some moderation in spending as consumers continually search for value,” NRF President and CEO Matthew Shay said.

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Three Creative Agency Pipeline Challenges – and How to Fix Them

Summit CPA

Across the creative agency industry, we’re hearing the same pain-point: pipelines are quieter, longer , and leaner. Now that pandemic relief money has been spent and the economy is in search of a new equilibrium, it looks like all eyes will be on pipeline for the near future. With a strong concentration in the creative agency space, we have our ear to the ground on pipeline issues.

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Empowering the next generation: How AI can support junior tax professionals

ThomsonReuters

Expectations of tax professionals today are higher than ever. Alongside having a head for figures, they need a problem-solving mindset, have commercial awareness, and be able to act as a strategic adviser to the business – all the while staying abreast of fast-changing regulatory developments and a shifting economic landscape. For junior tax professionals entering this complex and demanding world, the challenge can be exciting – but the learning curve can be steep.

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Survey Reveals 90% of UK Accountants Charge Between £126 to £400 for a Tax Return  

Accounting Insight

IRIS Software Group , a leading global software provider of accounting, edtech, payroll and HR solutions, today released the results of its anonymous poll of UK-based accountants, conducted during February and March 2024. Accountants responded to 13 multiple-choice questions pertaining to pricing, AML compliance, and cybersecurity confidence. How much do accountants charge across the UK?

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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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A Bankruptcy Investigation Example

FraudFiles

The skills of a forensic accountant can be useful in bankruptcy cases. In this video, Tracy talks about a case in which she was retained by a creditor to examine the finances of the debtor. There were allegations that the debtor concealed material facts about its financial position when it originally applied for credit, and [.

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15 key business skills for future focused accountants

Mark Lee

In my latest talks about what the future demands from accountants I reference key business skills. This is a subject that has long been dear to my heart as, after I had been working in tax for a while at what is now Deloitte (back when it was Touche Ross), I helped out the tax training team. Our focus was NOT on tax knowledge but on client relationship skills.

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Today's QB Talks focuses on QuickBooks Live Expert Assist

Insightful Accountant

Alicia will host special guest Ted Callahan, Intuit’s Accountant Leader, Ted Callahan, to discuss how Intuit sees QuickBooks Live Expert Assist as a benefit to ProAdvisors.

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In the blogs: Age before beauty

Accounting Today

Old IRS tech; lead, don't manage; an MP want-ad; 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.