KROST
FEBRUARY 2, 2024
Every year, taxpayers are required to file, report, and pay any taxes owed from the previous year. As the tax season begins, it is crucial to gather all forms of tax documentation in preparation for the filing process. We understand that filing taxes can be a very stressful and time-consuming task, and without proper planning, Read the full article.
CPA Practice
FEBRUARY 2, 2024
By Adam Lean. It used to be that all an accountant had to do to earn respect, win over new clients, and have a growing firm was simply be a great accountant. Those days are over. They’re over for a few reasons: Reason #1: Most clients don’t value accounting as much as we think they should. Reason #2: Most clients (especially business owners) would rather their accountant give them advice (instead of simply being a recorder of the past).
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Accounting Today
FEBRUARY 2, 2024
The university is bracing for two bills in Massachusetts this year that would target its massive billion endowment and policy of admitting legacy applicants.
CPA Practice
FEBRUARY 2, 2024
By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. The relief includes extensions for various tax payment and filing deadlines. Individuals and businesses affected by the severe storms now have until June 17 to meet certain tax obligations.
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.
Canopy Accounting
FEBRUARY 2, 2024
As we make our way through 2024, the world of accounting continues to evolve, with influencers playing a pivotal role in shaping industry trends, providing insights, and offering guidance through the complex maze of fiscal management. Whether you're an established finance professional or just starting to navigate the waters of accounting, following the right thought leaders can be instrumental in staying ahead of the curve.
Accounting Today
FEBRUARY 2, 2024
The jobs report far surpassed most economists' expectations, but the unemployment rate held steady at 3.7%.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
FEBRUARY 2, 2024
Two firms in Albany and Buffalo, New York, have agreed to a revenue-sharing arrangement.
Insightful Accountant
FEBRUARY 2, 2024
The US House of Representatives overwhelmingly passed a $78,000,000,000 "extenders bill" this week.
GrowthForceBlog
FEBRUARY 2, 2024
9 min read Your firm's primary function is the service it provides – engineering. To function well, remain operational, and turn a profit, the firm must also have a well-run bookkeeping and accounting department.
CPA Practice
FEBRUARY 2, 2024
Randy Johnston and Brian Tankersley, CPA, explored CES 2024 in Las Vegas in January. In this podcast, they highlight some of their favorite personal tech they saw on display. Use the podcast player below to listen to the podcast. Transcript (Note: There may be typos due to automated transcription errors.) SPEAKERS Brian F. Tankersley, CPA.CITP, CGMA, Randy Johnston Randy Johnston 00:03 Hey, welcome to Technology Lab.
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.
Accounting Today
FEBRUARY 2, 2024
Bribe payments by the oil-trading giant were facilitated by an accounting system that allowed employees to skirt internal controls.
CPA Practice
FEBRUARY 2, 2024
Members of the New Jersey Society of Certified Public Accountants (NJCPA) visited 65 high schools in the state during the fall of 2023 to inform students about the benefits of having a successful career in accounting and how to become a certified public accountant (CPA). Through the NJCPA Career Awareness Program, more than 60 NJCPA members made presentations throughout New Jersey.
Accounting Today
FEBRUARY 2, 2024
The Illinois CPA Society and its CPA Endowment Fund have begun accepting scholarship applications for the 2024-2025 academic year.
Going Concern
FEBRUARY 2, 2024
PwC UK Chairman Kevin Ellis and hardcore RTO fanboy is apparently leaving after two terms and the hunt is on for the lucky person to replace him. Reported Sky News : Sky News has learnt that the world’s biggest accountancy firm has initiated the process through which its supervisory board – consisting of PwC partners – will oversee the installation of a successor to Kevin Ellis.
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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.
Menzies
FEBRUARY 2, 2024
Menzies LLP - A leading chartered accountancy firm. Are you overlooking a golden opportunity? Many hospitality businesses do not realise that they may have inadvertently overpaid VAT during the tumultuous period of the pandemic, after the reduced rate was introduced in 2020. There is still time to recover these funds, but the window of opportunity is starting to close.
Accounting Today
FEBRUARY 2, 2024
The guidance would align with COSO's widely used internal controls and enterprise risk management frameworks.
Withum
FEBRUARY 2, 2024
Within the context of employee health plans, the partnership between a plan sponsor and its administrator holds paramount importance in ensuring seamless operations and prudent management of plan assets. To fulfill their fiduciary duties, plan sponsors often enlist the expertise of third-party administrators, while still retaining their role as administrators under the guidelines of the Employee Retirement Income Security Act (ERISA).
CPA Practice
FEBRUARY 2, 2024
Top 20 accounting firm CohnReznick admitted 24 professionals—18 men and six women— to its partnership on Feb. 1. The newly admitted partners and principals bring expertise across advisory, assurance, and tax, and play integral roles in the firm’s industry groups. “CohnReznick’s ability to deliver world-class client service is driven by our commitment to recruit, develop and reward outstanding individuals who demonstrate the capability to lead our firm into the future,” CohnReznick CEO David Kess
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
SchoolofBookkeeping
FEBRUARY 2, 2024
Advanced Inventory Tracking inventory Using QuickBooks Online For years the outcry from the accounting community has been “QBO doesn’t track inventory” and when QBO was first unveiled (circa 2000), that was 100% accurate. It was originally launched to cater to service based industries, not product based industries. But time, technology, the evolution of the internet, have changed that and it’s worth looking into again.
Withum
FEBRUARY 2, 2024
When employers opt for self-insurance in managing their group health plans (GHP), they inherently shoulder significant fiduciary responsibilities toward plan participants and beneficiaries. To mitigate fiduciary risk, plan sponsors commonly enlist insurance carriers as third-party administrators, leveraging their provider networks, administrative expertise, and cost-control practices.
CPA Practice
FEBRUARY 2, 2024
This case study describes how a top 200 firm, YHB, successfully implemented Suralink leading to an improved employee experience and a dramatic increase in productivity. Creating a better work/life balance for employees doesn’t have to involve firing profitable clients or automating work to the point of becoming disconnected from those clients. By empowering employees with the right tools and resources, firms can put their people first, keep clients happy, and grow.
Cherry Bekaert
FEBRUARY 2, 2024
For years, taxpayers have been able to take advantage of cost segregation and the Section 179D Energy Efficient Commercial Building Deduction (Section 179D) studies. These studies help to recover costs from facility purchases or construction while also reducing their tax liabilities. Cost Segregation Analyses A cost segregation study allows property owners to maximize the depreciation of real estate assets by accelerating depreciation deductions for specific classified assets.
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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.
Accounting Today
FEBRUARY 2, 2024
Plus, promotions at Kassouf, CohnReznick, KSM, and Johnson Lambert, and other personnel and firm news from across the country.
Accounting Insight
FEBRUARY 2, 2024
You’re as likely to see technology and software in mainstream news headlines today as you are on the business and tech pages. Warnings that rapid advances in artificial intelligence is outperforming humans, obliterating jobs and possibly even destroying humanity have been hard to ignore. If you’re a finance or accountancy professional – the latest technology developments might not be your top priority.
Accounting Today
FEBRUARY 2, 2024
Plus, H&R Block releases Direct Import to move data from TurboTax; and other accounting technology news.
Going Concern
FEBRUARY 2, 2024
TLDR: Boning clients and/or treating them to too many football games is an independence violation Once again EY is losing a client because someone over there just couldn’t resist banging them which leads us to wonder out loud: what is it with EY and hooking up with clients? The Telegraph on why EY dropped UK grocery chain Asda: EY has quit as auditor to Asda amid one of its senior partners starting a romantic relationship with billionaire chief executive Mohsin Issa, The Telegraph can reve
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.
Cherry Bekaert
FEBRUARY 2, 2024
Introduction Throughout 2023, private equity faced a litany of challenges as it navigated a mini banking crisis, increasing capital costs, and an intractable valuation gap between buyers and sellers, all while facing enhanced regulatory scrutiny. The cumulative impact resulted in a steep decline in overall deal activity. Despite these headwinds, there were positive opportunities for private equity investors.
CPA Practice
FEBRUARY 2, 2024
By K. Sophie Will and Caitlin Reilly, CQ-Roll Call (TNS) Republican-backed legislation to temporarily boost the cap on state and local tax deductions cleared a key hurdle on Thursday, but the House Rules Committee vote portends tough sledding for GOP leaders to get the bill on the floor next week. After an “emergency” meeting to consider the tax bill that began at 8 a.m. and featured a lengthy recess behind closed doors, Rules reported out a closed rule for floor debate on an 8-5 vote.
Going Concern
FEBRUARY 2, 2024
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.
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