Thu.Sep 05, 2024

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CPA business execs more pessimistic about economy

Accounting Today

Only about a quarter of CPA business executives expressed optimism about the prospects for the U.S. economy over the next 12 months, down from more than a third last quarter, according to a new survey.

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Two-Thirds of U.S. Financial Services Execs Lack the Right Data Environment to Use AI Effectively

CPA Practice

More than two-thirds (76%) of financial services operations leaders in the U.S. believe that using AI would enable them to make faster, more effective decisions, but 62% lack the data management capabilities and data environment to capitalize on the technology’s potential. That is according to a new international study commissioned by ActiveOps , a leading provider of AI-powered decision intelligence for service operations.

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KPMG Gets Aboard the Unlimited PTO Train

Going Concern

…as expected, some people are b g about it. Rumors have been swirling for weeks like so many unflushable logs that KPMG was about to announce unlimited PTO, something their competitors at EY did four years ago. As seen on r/KPMG: You all were right. They just announced unlimited PTO by u/Active_Ease_2367 in KPMG EY’s switch to unlimited PTO was immediately shat upon, and rightfully so, after a leaked senior management email made the rounds.

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Watch Out for These Sales Tax Audit Triggers

CPA Practice

By Scott Peterson. With more than 13,000 sales and use tax jurisdictions across the United States, tax rates are subject to change as new policies are implemented and others expire. In a typical fiscal year, there are thousands of sales tax rate updates. Keeping up with sales tax changes can be difficult and, even if you’re careful, your business can be selected for a state audit.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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Hidden Levers in Your Financial Statements

Summit CPA

Did you know there are hidden business levers in your financial statements? That’s right. By fully understanding your financial statements inside and out, you can identify methods to alter your business cash flow. But that first part of that last sentence is key: you need to fully understand your business financials (which can seem pretty hard if you don’t break your financial metrics down into digestible pieces of information).

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Anders Recognized as a Best of the Best Accounting Firm by INSIDE Public Accounting for the Fourth Consecutive Year

Anders CPA

Anders has once again been recognized as a Best of the Best firm by INSIDE Public Accounting (IPA) for the fourth consecutive year after moving up to #73 on IPA’s Top 100 Firms List. This distinction places Anders among an elite group of 75 top-performing CPA firms across the U.S. and Canada, selected from over 600 firms that participated in the IPA Practice Management Survey.

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Meet the 2024 Best Midsized and Large Firms to Work For

Accounting Today

An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.

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Top Remote Accountants of the Week | September 5, 2024

Going Concern

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #22410136 Certifications: CPA Education: BS Accounting, MBA Experience (years): 15+ y

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EisnerAmper Joins Forces With Tighe, Kress & Orr in Illinois

CPA Practice

Top 20 accounting firm EisnerAmper is expanding its presence in the Chicago area by merging in Elgin, IL-based CPA firm Tighe, Kress & Orr. Financial terms of the deal, which is expected to become final in October, weren’t disclosed. Jay Weinstein “TKO really gets it. They listen to clients, work with them on tailored solutions, and strive for ongoing client growth,” Jay Weinstein, Eisner Advisory Group vice chair of industries and markets, said in a statement.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Meet the 2024 Best Small Firms to Work For

Accounting Today

An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.

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What has Failure Taught Us in Achieving Success?

Accounting Insight

In the realm of any business industry, failure is frequently seen as something that should be avoided at all costs. The fear of making mistakes can be paralysing, leading accountancy firm owners to play it safe and avoid risks. However, the truth is that failure is not the enemy of success; it is an essential component of it. In fact, a few of the most successful accountancy firm owners have experienced significant failures on their path to success.

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Investors relying more on CAMs

Accounting Today

Disclosures of critical audit matters are fueling investment decisions, according to a study by the Center for Audit Quality.

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Financial Planning & Analysis: The Secret to Scaling Your Business Successfully

AccountingDepartment

Financial Planning & Analysis (FP&A) is crucial for any business aiming to scale successfully. It involves detailed financial forecasting, budgeting, and analytical processes that drive strategic decision-making.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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Tax Fraud Blotter: Incorrect positions

Accounting Today

On ice; the end of the beginning; Speed trap; and other highlights of recent tax cases.

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PwC UK Orders the Troops Back to the Office For Three or More Days a Week

Going Concern

Staff and partners at PwC UK were informed today that they are expected to work in the office or at a client site a minimum of three days a week, reports Bloomberg. Former senior partner Kevin Ellis, who retired in June after 40 years at the firm, tried the RTO carrot many times over the past several years, suggesting that if people want to get ahead they’ll want to show their faces at the office lest they be replaced by AI.

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Pathways to growth: Ready to land some bigger fish?

Accounting Today

Market disruption is creating significant opportunity for accounting firms.

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CAS Transformation is Only One Piece of Business Transformation

CPA Practice

CPA firms today are at a crossroads. Remote and hybrid work intensified the push toward digital transformation. Technology is automating much of their “bread and butter” transactional and compliance work, and clients are looking for more from their advisors. Firms that adapt to these changes are better positioned to thrive, and central to this adaptation is Client Accounting Services (CAS) or Client Accounting & Advisory Services (CAAS).

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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AI Sucks at Making Regulators’ Jobs Easier, For Now

Going Concern

Browsing the internet last night long after I should have been asleep (as one does), I was served an article that Google thought would be of interest to me: “Government Test Finds That AI Wildly Underperforms Compared to Human Employees” [ The Byte ]. This article was based on another article that appeared on the hilariously-named Australian outlet Crikey : “ AI worse than humans in every way at summarising information, government trial finds.” Do we even need to dive any

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Economy Worries Linger Among CPA Business Executives, AICPA Says

CPA Practice

CPA business leaders’ optimism about the economy has dropped for the second straight quarter, as only about one-fourth expressed a positive outlook over the next 12 months, down from more than a third in the second quarter , according to the latest AICPA & CIMA Economic Outlook Survey. The third-quarter 2024 survey includes 310 qualified responses from AICPA members holding executive and senior management accounting roles, including CEOs, CFOs, controllers, and other CPAs in U.S. companies

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How To Start A Small Business: Padgett & Padgett, PLLC CPA’s Steps (Part 1)

SkagitCountyTaxServices

We’re all waiting and watching (and hoping) to see if federal interest rates will be dropping soon. But the outcome of the August jobs report could also have a big impact on stock market prices. What does this mean for you as a small business owner? Well, a weak jobs report means consumers are more cautious about spending in your Skagit County business, and you might have a reduced ability to hire the right kind of people (something important when you’re considering starting your own business).

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SEC charges former Circor director with fraud

Accounting Today

Nicholas Bowerman was charged with manipulating Circor's internal accounting records, resulting in the company to overstate its financial performance by millions of dollars.

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Digital Transformation in Accounting: Why It’s Essential for Modern Firms

Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

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Fixing the Balance Sheet

Withum

Being able to get an overview of a financial statement quickly is important to determine if additional time should be allocated to a thorough review. This is one of the skills my students will learn this semester in my Baruch College Introduction to Managerial Accounting course. The course aims to teach students how to determine what data is needed, how to use and apply the data, understand its reliability and how timely the data should be.

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Penfold Reveals Innovative Xero Payroll Pension Integration

Accounting Insight

Penfold, the modern digital pension provider, is thrilled to announce its new pull integration with Xero – automating pension contribution processing entirely. It eliminates the need for manual uploads or button presses, enabling employers and accountants to set and forget their pension processing. Penfold’s the first pension scheme to offer this kind of powerful integration to a mainstream payroll software.

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What is the Right to Disconnect? What small businesses need to know

Reckon

The Right to Disconnect law has passed in Australia and is now in effect for larger businesses, but employers are still trying to understand what type of after-hours contact is considered reasonable or unreasonable. So, if you run a small business in Australia, what do you need to know? Let’s lay out the facts. What is the Right to Disconnect? The right to disconnect says eligible employees in Australia don’t have to respond to work-related communication outside of normal working hours.

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Kamala Harris Hits New Hampshire to Unveil ‘Ambitious’ Small Business Plan

CPA Practice

By Matthew Medsger Boston Herald (TNS) NORTH HAMPTON, N.H. — Vice President Kamala Harris made a surprise campaign stop in New Hampshire to announce a new policy proposal Wednesday, when she laid out an “ambitious” plan to get millions of small businesses started. Harris, who noted there are only 62 days until the Nov. 5 general election, was in North Hampton at Throwback Brewery when she made the announcement.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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Guide: Navigating RetireReady NJ

Withum

FAQ Guide for Employers Download Guide As New Jersey introduces RetireReady NJ, businesses across the state face new responsibilities in helping employees save for retirement. Understanding these changes is crucial for smooth compliance and effective implementation. Download our comprehensive FAQ Guide to: Learn key requirements and deadlines. Clarify your responsibilities as an employer.

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Prosperity Now Announces ‘Prosperity Next’: A Tech Partnership with Change Machine and Credytu to Revolutionize Financial Inclusion

CPA Practice

This morning at the 2024 Prosperity Summit, Prosperity Now unveiled “Prosperity Next,” a groundbreaking initiative to address economic disparities, in collaboration with transformative strategic partners Change Machine and Credytu. This partnership marks a significant advancement in the ongoing mission to create a just and equitable economy, particularly for communities of color, who have historically been denied access to capital.

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Everything Tech to Showcase Acquisition Technology Partner Expertise at Accountex Manchester 2024

Accounting Insight

Everything Tech, an expert-managed IT service provider (MSP) known for its trusted capability in supporting highly acquisitive businesses in the finance, professional and technical sectors, will be attending Accountex Manchester for the first time on 17 September. This follows a recommitment by the company earlier this year to its professional services market offering, which has been developed purposely to underpin the growth strategies of accountancy, private equity and legal firms through tail