Wed.Nov 20, 2024

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How Accountants Can Avoid Scope Creep and Protect Their Business

Canopy Accounting

As an accountant, you're likely familiar with the scenario: a client asks for "just one more thing," and before you know it, you're handling tasks far beyond the original agreement. This phenomenon, known as scope creep, can lead to increased workload, strained client relationships, and reduced profitability if not managed properly. In this blog post, we'll explore what scope creep is, why it happens, and practical strategies accountants can use to avoid it.

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Survey: Over Half of Accounting Firms Plan to Increase Fees in 2025

CPA Practice

A new report from practice management software provider Ignition says rising business costs are driving fee increases at accounting firms, with 57% planning to raise fees across all services next year. The 2024 U.S. Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025.

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FloQast aims to make CPE fun with Audit Jamz accounting music

Accounting Today

The album provides an enjoyable way for CPAs to earn continuing professional education credit.

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CPE Sessions Announced for Ensuring Success

CPA Practice

On December 18-19, 2024, CPA Practice Advisor is hosting its annual Ensuring Success conference, an online CPE event where professionals can earn up to 14 hours of free CPE credit, with 7 one-hour sessions each day. There is no cost to users to register, attend, and earn CPE credit, and they can choose the ones they want, or can stay for all of the sessions.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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New PwC assurance leader works to improve audits

Accounting Today

PricewaterhouseCoopers has been focusing on auditing under a new PwC US assurance leader, Deanna Byrne, who began the job in July.

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Avalara Unveils Intelligent Tax Content Solution for Lodging and Hospitality

CPA Practice

Avalara, Inc. , a provider of tax compliance automation software for businesses of all sizes, has announced new and innovative efficiencies for the lodging and hospitality sectors, with the release of Avalara Tax Content (ATC) for Lodging. Leveraging Avalara’s proprietary, AI-infused technology, ATC for Lodging gathers, processes and organizes lodging tax data specifically for the lodging and hospitality industries – making it the ideal solution for organizations that require lodging tax content

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81% of Business Owners Have Some Optimism for 2025 Economic Outlook

CPA Practice

The 2025 Middle Market Survey report from UHY, shows the majority of business owners have at least some optimism when it comes to the state of business in 2025. The survey, which polled more than 275 executives across the public and private middle market – spanning sectors such as automotive, construction, financial services, healthcare and more – looks into the key trends, challenges and successes that businesses are set to experience in 2025.

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PCAOB sanctions five firms for reporting violations

Accounting Today

Bush & Associates, Barton, Crowe Hussain Chaudhury, KPMG India and RSM Brazil settled sanctions for violating PCAOB reporting requirements.

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Intuit Assist for QuickBooks Adds Gen-AI Financial Assistant to Power Business Growth

CPA Practice

Intuit, the financial technology platform that makes Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp , has launched Intuit Assist for QuickBooks, a generative AI (GenAI)-powered financial assistant that transforms how businesses run and grow their business. Available to QuickBooks Online customers in the U.S., Intuit Assist is delivering seamless, connected ‘done-for-you’ experiences, enabled by AI with access to AI-powered human experts.

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Building Brighter Futures With Home Builders Institute

Withum

Accessible, affordable housing is critical to our society. Explore Other Episodes #CivicWarriors #WithumImpact The post Building Brighter Futures With Home Builders Institute appeared first on Withum.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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Treasury, IRS Final Regs on Direct Pay Expand Clean Energy Tax Credit Access

CPA Practice

The Treasury Department and the IRS released final regulations on Nov. 19 that will enable certain tax-exempt, governmental, and tribal entities that co-own clean energy projects access to the Inflation Reduction Act’s clean energy tax credits through elective pay, also known as direct pay. “The guidance Treasury is issuing today provides greater clarity and flexibility for direct pay-eligible entities that want to jointly invest in clean energy projects—for example, a tax-exempt entity co-inv

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Responsible AI in accounting

Accounting Today

As the accounting industry taps into the power of Generative AI, firms need to ensure privacy, transparency and other elements of responsible use.

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How Accounting and Tax Firm Owners Can Prevent Burnout

CPA Practice

By Jackie Meyer, CPA Recent research has found that 99% of accountants experience burnout, which as personally disturbing as it sounds, can ultimately impact your bottom line. In this article, I plan to dive into how you can not only prevent burnout, but increase profit in your firm. In the accounting world, burnout is especially common during tax busy season.

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Navigating New York’s Carbon Challenge: Local Law 97 and the Battle Against Emissions

Withum

New York City’s Local Law 97 became effective January 1, 2024, as a critical component of the city’s Climate Mobilization Act of 2019, aimed to reduce the city’s greenhouse gas emissions by up to 40% by 2030 and 80% by 2050 in comparison to the benchmark from 2005. Local Law 97: Reducing NYC’s Emissions This law targets larger residential and commercial properties, including buildings with more than 25,000 square feet, which are the primary contributors to the city’s carb

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Bridging the Accounting Profession’s Generational Gap Requires Purpose-Driven Strategy Steeped in Innovation and Adaptability

CPA Practice

By Adam Venokur , CPA/PFS, CFP, Northeast Regional Leader at Aprio. The accounting profession has made significant strides in addressing an ongoing talent gap, employing diverse strategies and tactics with varying degrees of success. However, the profession’s evolution, while supported by technological advancements and progressive transformation, still hasn’t been enough to attract and retain younger generations to the extent needed.

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How to Streamline Document Collection This Tax Season

Ryan Lazanis

Many firms struggle with document collection during tax season. In this episode, I share why it's an issue and how I recommend handling it. The post How to Streamline Document Collection This Tax Season appeared first on Future Firm.

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Sage Intacct Multi-company Support

Insightful Accountant

Thinking of switching from QuickBooks because multi-company support just isn't what it should be? You might want to check out Sage Intacct, a lot of multi-entity businesses transition to them for multi-company support.

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Japanese Restaurant Owner Avoids Raw Tax Deal

CPA Practice

In the past, taxpayers have often relied on the “Cohan rule” from an age-old case to bail them out of a tax jam. It often comes up when a business is unable to substantiate all of its out-of-pocket expenditures. Now a restaurant owner in a brand-new case, Pak, TC Memo 2024-86, 9/11/24, has gone back to the well again. Basic premise: The plaintiff in the landmark federal court decision was none other than legendary vaudeville and Broadway star George M.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Tax Policy Outlook: What Your Small Business Clients Need to Know

Insightful Accountant

The landscape for small business tax planning could see dramatic shifts in the coming years as tax advisors prepare their clients for potential changes.

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Andersen Advances Global Valuation Practice in 10 Asia Pacific Countries

CPA Practice

Andersen , an independent, global multidisciplinary professional services, continues to broaden its global valuation practice and deepen its ties in Asia Pacific through the addition of collaborating firms in Australia, China, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Following the firm’s expansion in Europe , Latin America , and Africa earlier this year, Andersen now has valuation capabilities in more than 50 countries worldwide.

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We Still Want Your App Input

Insightful Accountant

Please tell us your preferred App Comparison categories. Take this 1-question survey to give us your input.

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TaxPlanIQ Unveils Value-Based Pricing Tool For Accounting Firms

CPA Practice

TaxPlanIQ, a provider of tax planning software for tax and accounting firms, has launched the ROI Method of Value Pricing calculator, a free tool for firms to use to price advisory services like tax planning and CFO support based on measurable client outcomes. For TaxPlanIQ subscribers, this value-based pricing tool is already integrated into the software, where it automatically calculates pricing based on selected strategies.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Innovating Tax Prep: StanfordTax CEO Dan Berenholtz on AI Solutions

Insightful Accountant

Gary DeHart interviews Dan Berenholtz, co-founder and CEO of Stanford Tax. Dan shares his journey into the tax and accounting industry and how inefficiencies in tax document collection inspired the creation of StanfordTax’s innovative solution.

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Fiserv and ADP Team Up for Small Business Management

CPA Practice

Fiserv, Inc. , a provider of payments and financial services technology, and ADP , a technology company providing human capital management solutions, have formed a strategic partnership that brings together Fiserv’s preeminent small business solutions, including Clover and CashFlow Central, with the industry-leading small business payroll and HR solution, RUN Powered by ADP.

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Goal Setting For Accountants And Tax Preparers:  Start The New Year With Clear Vision And Purpose

Insightful Accountant

The start of a new year is a prime opportunity for reflection and goal setting. For accountants and tax preparers, reaching new goals requires more than just ambition.

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Opsahl Dawson Merges in Hauser Jones & Sas

CPA Practice

Top 300 accounting firm Opsahl Dawson has joined forces with Hauser Jones & Sas (HJS), a Bellevue, WA-based full-service CPA firm. The combination of the two firms expands Opsahl Dawson’s presence into Bellevue, joining its existing Washington offices in Vancouver, Lacey, and Longview/Kelso. The Vancouver-based firm now has a team of 180 partners and professionals.

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AP Automation: The Competitive Advantage Your Business Needs

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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IESBA chair reappointed

Accounting Today

Gabriela Figueiredo Dias, chair of the International Ethics Standards Board for Accountants, has been reappointed for a second term through Dec. 31, 2026.

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Dent Moses Offers Free Shred Service for Clients

Dent Moses

Beginning now through January 15, Dent Moses has extra shred bins on-site to help our clients dispose of old financial and tax records. All you need to do is bring your unwanted documents to our office, and we will place them in one of our secure shred bins. If you have more than you can carry, we have staff available to help you get the documents from your car to the office.

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TaxPlanIQ releases pricing tool for advisory services

Accounting Today

TaxPlanIQ released a new workbook and calculator for its ROI Method of Value Pricing for advisory services.

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Tax Benefits for Founders: Qualifying Small Business Stock (QSBS)

Shay CPA

As a founder of a startup, you’re putting your belief in a delayed gratification model. Those early days of building your company will probably be lean. You’ll work nights and weekends in exchange for what’s most likely a small amount of pay. The thinking goes that you’ll see significant ROI on this effort. Down the road, the shares you have in your company will ideally be worth a sizable sum.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.