Tue.Sep 24, 2024

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Keeping SST benefits – including freebies – isn’t automatic

TaxConnex

Wouldn’t it be great if you, a seller in multiple states, could get free sales tax calculation and reporting? Sure would – and that’s long been the draw for becoming a “volunteer seller” in Streamlined Sales Tax (SST) states. Does everyone qualify? And even if you do, how do you make sure to maintain no-cost sales tax calculation and reporting services?

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How Outsourced CFO Services Boost Financial Performance for Smaller Investment Firms

BurklandAssociates

Outsourced CFO services provide firms with expert financial support, helping partners stay focused on smart investments and strategic growth. The post How Outsourced CFO Services Boost Financial Performance for Smaller Investment Firms appeared first on Burkland.

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A glimpse into the future of accounting

Accounting Today

Five major trends and key takeaways from Bill's Accountant Partner Council.

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Unsubstantiated Conspiracy Theory of the Day: The AICPA Wants You to Fail the CPA Exam

Going Concern

The AICPA, NASBA, and state boards make the CPA exam harder than it needs to be because they make more money off exam fees when you fail. That’s the (totally unconfirmed) tinfoil theory thrown out here by a user of r/CPA : Tinfoil hat – Personally feel like it’s a money grab, AICPA/NASBA/State Boards purposely don’t tell you what questions you got wrong and how they grade the tests so it’s not about application of what you know, it’s more about memorizing as much as you can while hop

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Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

Speaker: Claire Grosjean

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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PCAOB sanctions five firms

Accounting Today

The sanctions against Accell, Crowe MacKay, EY Switzerland, Grant Thornton Canada and Halpern 7 Associates come following an ongoing enforcement sweep.

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The Road to Commercial Property Tax Savings: Preparing to Appeal an Assessment

CTP

Want information on residential property assessment appeals instead? Read here. Working with property owners can be a lucrative investment—both for your client and for you as a tax professional. To ensure that their income-producing property isn’t losing a huge chunk of its income to taxes, property owners need the support of someone who knows where the tax savings opportunities lie.

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More Trending

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ADC Attends HubSpot INBOUND 2024!

AccountingDepartment

Last week, Andrea and Mike of AccountingDepartment.com's Marketing Team, traveled to Boston for HubSpot's INBOUND show.

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The art and science of M&A and technology

Accounting Today

When an accounting firm merges into a larger one, what should they expect regarding their technology?

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Consumer Confidence Fell Most in Three Years in September

CPA Practice

By Jarrell Dillard Bloomberg News (TNS) U.S. consumer confidence unexpectedly fell in September by the most in three years on concerns about the labor market and the outlook for the broader economy. The Conference Board’s gauge of sentiment decreased 6.9 points to 98.7, the biggest drop since August 2021, data out Tuesday showed. The figure was below all estimates in a Bloomberg survey of economists.

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Stop being so faithful to your old ideas

Accounting Today

Learn to be intellectually promiscuous.

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What Your Financial Statements Are Telling You—And How to Listen!

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.

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How to Avoid Scams While Job Hunting

CPA Practice

Kimberly Palmer NerdWallet The Oakland Press, Sterling Heights, Mich. (TNS) When you’re hunting for work, a text alerting you to a new listing that sounds like your dream job could be your big break. But it could also be a scam designed to steal your personal information and money. “Employment scams have been around for awhile, but as technology like AI advances, we’ve seen more scammers try to take advantage of job seekers,” says Toni Frana, lead career expert at FlexJobs, an online platform fo

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EY UK Partners Warned Again Pay Will Suck This Year

Going Concern

Poor EY partners, ever since Project Everest fell apart they’ve really been struggling. While we await EY revenue numbers that should drop some time next month, sources inside EY are running to The Times to say partners are being warned of a second year of pay cuts ahead. Partner pay at EY is set to fall for the second year in a row while senior staff will forgo a pay rise, in a sign that professional services firms are still battling a downturn.

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IRS Revises FAQs on Premium Tax Credit

CPA Practice

The IRS has updated a section in its frequently asked questions about the Premium Tax Credit, a refundable credit that helps low- and moderate-income individuals and families afford health insurance premiums. These FAQs supersede earlier ones that were posted in Fact Sheet 2024-04 on Feb. 9, 2024. In Fact Sheet 2024-30 , which was released by the IRS on Sept. 19, a revision was made under the “Affordability of Employer Coverage for Employees and for Family Members of Employees” section, specifi

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Debby victims in Pennsylvania get tax relief

Accounting Today

The Internal Revenue Service is postponing filing and payment deadlines for those impacted by the tropical storm.

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Forecasting Failures Are Costly: Heres How To Fix Them

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.

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Report Says Digital Disruption and Climate Change Are Fastest-Growing Risks for Organizations Worldwide

CPA Practice

Digital disruption and climate change have emerged as the two fasting-growing risk areas for organizations across industries, according to The IIA’s Internal Audit Foundation’s latest Risk in Focus research. Based on feedback from more than 3,500 internal audit leaders around the world, global risk levels for digital disruption and climate change are projected to increase 20 percentage points and 16 percentage points, respectively, over the next three years – far outpacing other risk areas.

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In the blogs: Thought, politics, repeat

Accounting Today

Relative accuracy; biggest cyberthreats; end-of-year meetings; and other highlights from our favorite tax bloggers.

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AICPA Looks to Amend Standard on Financial Statement Preparation

CPA Practice

The AICPA is seeking to amend its standard related to financial statement preparation, which would clarify that a CPA wouldn’t be required to apply AR-C Section 70, Preparation of Financial Statements, when financial statements are prepared as a byproduct of a client advisory services (CAS) engagement. The exposure draft of the proposed Statement on Standards for Accounting and Review Services (SSARS) can be reviewed here.

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SEC charges tech CEO with $30M fraud

Accounting Today

The software company co-founder allegedly raised more than $30 million by falsely claiming the company had millions of dollars in annually recurring revenue.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

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

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Why Your Business Needs a Sales Tax Software Tune-Up

Cherry Bekaert

Contributor: Tiffany Rodi, Sales & Use Tax Senior Manager Keeping Up With the Ever-Changing Sales Tax Landscape Sales tax compliance is a complex and dynamic area that requires constant attention. Collecting and remitting sales tax can be time-consuming and confusing, especially if you operate in multiple states. Failing to do so can lead to errors, audits and fines that can be costly for businesses.

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Bridging Trust in AI Systems: The Importance of Explainability and Thinking Traces

Withum

The Quest for Explainability and Thinking Traces in OpenAI’s New O1 Model and Beyond We’ve posted a lot on the new OpenAI O1 / Strawberry / Q* model in the past 24 hours. Generally, we avoid using marketing-sounding phrases like “evolutionary” or “qualitatively different,” but this release does stand apart from everything that came before it in the last 12 months.

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Building an AI-ready firm: Strategies for responsible integration and growth

ThomsonReuters

Jump to ↓ Understanding AI’s impact Step 1: Cultivating an AI-savvy culture Step 2: Developing an AI roadmap Step 3: Implementing AI responsibly Are you ready to become an AI-ready firm? As AI becomes an integral piece of everyday workflow for professionals across all industries, many accounting firms are finding ways to leverage this game-changing technology for increased efficiencies, deeper insights, and a competitive edge.

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54th GST Council Meetings| Amendments and Clarification for Facilitation of Trade

VJM Global

The 54th GST Council meeting was held on 9th September 2024 under the chairpersonship of the union minister for Finance & Corporate Affairs and was also attended by the union minister of finance of some states. During the meeting many of the issues faced by the industries were addressed such as clarification on the applicability of GST rate on some goods and services, recommended issuance of circulars on amnesty scheme for demand notice issued under section 73, implementation of section 16(5

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Book of Secrets on the Month-End Close

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.

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Murph's "Scoring Your Best" is Today

Insightful Accountant

If you are even thinking about participating in the 2025 ProAdvisor Awards you won't want to miss this session where Murph provides tips on how you can 'score your best' based on the behind the scenes scoring factors the awards use.

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CBIC Issued Clarification with Respect of Advertising Services Provided to Foreign Clients| Circular No. 230/24/2024-GST 

VJM Global

CBIC has received various representations from the industry to provide clarification in the matter when the advertisement services are provided to foreign clients by Indian advertising companies/agencies. In some of the cases, the concerned jurisdictional officer considers that the place of supply of such service is within India. Therefore, the benefit of export is denied to such advertising companies.

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Intuit Announces New Partner Council Members

Insightful Accountant

Intuit has just announced new members to their U.S. Partner Council.

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Grants from A-Z: Preparing for Audit

LSLCPAs

LSL Webinar ‘Back to Basics | Grants from A-Z’ presented by LSL Senior Manager, Krystal Cabrera, CPA, and Supervisor Keili Gonzalez outlined how local government finance departments can navigate the complexities of grant reporting from A-Z. In case you missed it – as grant funding becomes a vital part of many organizations’ financial strategies, understanding.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

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?

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Warehouse Wednesday: Acumatica In-depth Part 6

Insightful Accountant

This is a prologue to Murph's 6th part of his in-depth series on Acumatica… a deep-dive into the functionalities designed to meet the needs of Distributors and Warehouse businesses.

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The Complete SEFA Checklist for Grants from A-Z

LSLCPAs

LSL Webinar ‘Back to Basics | Grants from A-Z’ presented by LSL Senior Manager, Krystal Cabrera, CPA, and Supervisor, Keili Gonzalez outlined how local government finance departments can navigate the complexities of grant reporting from A-Z. In case you missed it – when it comes to preparing for year-end, local government finance departments must ensure.

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Future Forward Fall 2024 Continues Today

Insightful Accountant

You can still register and attend the 2nd Day of Insightful Accountant's Fall 2024 Future Forward Event and hear from leading experts on trending topics.

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Here Are the Biggest Gripes HR Hears From Employees

CPA Practice

Those who work in human resources have their finger on the pulse of the frustrations of their firm’s employees, and a new survey from human capital management technology provider isolved reveals the biggest complaints they hear. isolved partnered with Talker Research to survey 1,000 HR professionals across the U.S. about the challenges they face navigating technological advancements, rising employee expectations, and a work culture that can sometimes feel less than civil.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

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.