CPA Practice

OCTOBER 17, 2024

By Mike Varney, Vice President, Finance and Operations at Extend. The alarm bells in accounting have been ringing for years: fewer people want to join – or stay – in the profession. The American Institute of Certified Public Accountants (AICPA) said in its “2023 Trends” report that the percentage of accounting graduates fell 7.8% between 2021 and 2022, after steady decreases of 1-3% since 2015-16.

Technology 124

Technology accountant Account accounted 124

Accounting Today

OCTOBER 2, 2024

New entrants to the profession face more decisions more often than ever in building their accounting careers. Expert weigh in with their best career advice.

accounting careers 124

accounting careers accountant Account accounted 124

Mark Lee

OCTOBER 15, 2024

Most general practitioner accountants I talk with (and I talk with a lot of them) are, obviously, generalists rather than specialists. They typically started out as general practitioners and often stay that way as their client base has always been quite disparate. Many accountants who develop a specialisation do so only because they originally trained in firms that encouraged them to specialise – often quite early in their career.

bookkeeping software 89

bookkeeping software bookkeeping accountant Account 89

Accounting Today

OCTOBER 18, 2024

Starting in January, cryptocurrency will need to be reported to the IRS on an account-by-account basis versus the "universal wallet" approach most had been using.

cpas 131

cpas accountant Account accounted 131

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 automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

Finance

CPA Practice

OCTOBER 8, 2024

According to a new report from top six accounting firm BDO USA, company finance leaders are expecting technology like artificial intelligence to be used by their external auditors now to enhance their audit engagement and consider it the second-most important factor when choosing an audit firm. In fact, according to the inaugural 2024 BDO Audit Innovation Survey , released on Oct. 7, the ability to leverage new technologies was a slightly more important factor that influences audit firm selecti

audit 143

audit Finance auditor Technology 143

Accounting Today

OCTOBER 8, 2024

A survey of internal audit and IT leaders found that while they identity AI as a growing technology risk, they have the least confidence in their ability to evaluate and handle its risks versus other technologies.

auditor 135

auditor audit 135

Accounting Insight

OCTOBER 25, 2024

The three profits included in accounting textbooks: gross profit, operating profit and net profit are a good start for accountancy students. Limiting them to just three types of profit is intended to avoid overburdening young accountants at the beginning of their studies. If they told them up front that more than 15 different types of profit exist, our poor accounting students would all abandon their studies and probably open trendy wine bars instead.

Non-Profits 98

Non-Profits accountant Account accounted 98

RogerRossmeisl

OCTOBER 13, 2024

You may trust your executive management team implicitly. But the research is clear: In organizations where executives turn to fraud, the results are very costly. According to the Association of Certified Fraud Examiners’ (ACFE’s) Occupational Fraud 2024: A Report to the Nations, owner/executive fraud makes up only 19% of all cases but has a median loss of $459,000 per incident.

CPA 230

CPA 230

CPA Practice

OCTOBER 17, 2024

Despite soaring concerns about their business’ financial security and personal job security, the survey found that small to midsize businesses across the country are investing in technology more now than the past three years, both foundational and emerging. This is according to the fifth annual Verizon State of Small Business survey. In the past year, the number of SMBs using AI has more than doubled (39% of SMBs are using AI in 2024 compared to 14% in 2023), in large part due to the growing fam

Technology 122

Technology Retail 122

TaxConnex

OCTOBER 3, 2024

Navigating sales tax compliance in complex organizations can be a challenge, influenced by various factors. Industries like telecommunications, hospitality, healthcare, manufacturing, and technology face unique complexities when it comes to sales and use tax compliance. In this blog we discuss some of the reasons why these particular industries can be a bit more challenging than others.

Sales 214

Sales Tax Hospitality Healthcare 214

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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.

Technology

Acterys

OCTOBER 25, 2024

As ESG considerations become more integral to business strategy, companies face significant challenges in collecting, managing, and reporting ESG data. That’s why ESG reporting tools are becoming an increasingly important piece of the enterprise tech stack. Fragmented data sources, evolving regulatory requirements, and rising stakeholder expectations are just a few of the obstacles that can make ESG reporting a complex endeavor — and one that many executives don’t feel prepared for.

Technology 130

Technology accounting and finance Finance Government 130

BurklandAssociates

OCTOBER 29, 2024

Recent additions to Burkland’s cash runway extension toolkit include a free runway calculator and a customizable treasury policy template. The post Measure & Extend Your Startup’s Cash Runway appeared first on Burkland.

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MyIRSRelief

OCTOBER 18, 2024

Navigating the complexities of tax liabilities can be daunting for many taxpayers. One of the avenues available for those struggling with significant tax debt is the IRS Offer in Compromise (OIC) program. This program allows taxpayers to settle their tax liabilities for less than the full amount owed, provided they meet certain criteria. However, one critical aspect that can affect the acceptance of an OIC is the concept of dissipated assets.

Tax 130

Tax Sales financial statements Legal 130

RogerRossmeisl

OCTOBER 27, 2024

As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce potential estate taxes and show generosity to loved ones is by giving cash gifts before December 31. Under tax law, you can gift a certain amount each year without incurring gift taxes or requiring a gift tax return. Taking advantage of this rule can help you reduce the size of your taxable estate while benefiting your family and friends.

Tax 220

Tax tax return CPA Finance 220

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

payroll

CPA Practice

OCTOBER 17, 2024

Updated: Oct. 17, 2024, with comments from Intuit and the AICPA. TurboTax, the most widely-used do-it-yourself tax preparation in the U.S., is out with a new advertisement in which it is telling Americans that maybe they should save money and have a “tax break up” with their professional preparer by using one of TurboTax’s live experts. The irritation factor for some tax professionals and CPAs who provide tax preparation services is that Intuit, the maker of TurboTax and several other consumer b

tax preparation 119

tax preparation cpas CPA quickbooks 119

TaxConnex

OCTOBER 15, 2024

Income tax often seems to grab most of the headlines, but sales tax can make for a hefty crime – and punishment – too. A famous case recently examined in the TaxConnex podcast It Depends episode, “Sales Tax Crimes - Pt. 2: The Eccentric TYCO CEO’s Sales Tax Scheme,” clearly shows how you shouldn’t do the sales tax crime if you can’t do the time. Big numbers, common crime Unscrupulous vendors often collect and not remit sales tax (as in one recent case with a juice store owner in the District of

Sales 203

Sales New Hampshire Tax income tax 203

Acterys

OCTOBER 11, 2024

Acterys has been named a Champion in the 2024 Enterprise Performance Management (EPM) Quadrant by SoftwareReviews. For the second consecutive year, Acterys has been voted into the top spot by its customers. Each year, SoftwareReviews presents the Data Quadrant Awards to top-performing software products based solely on authentic user reviews, without any paid placements or analyst opinions.

accounting and finance 130

accounting and finance Finance accountant accounted 130

BurklandAssociates

OCTOBER 22, 2024

The Rule of 40 helps you balance rapid growth with long-term profitability as you scale your SaaS startup. The post Achieve Sustainable SaaS Growth with the Rule of 40 appeared first on Burkland.

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Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Finance

Accounting Today

OCTOBER 9, 2024

To help build the accounting pipeline, the Big Four firm is publicly supporting other ways to earn a license.

CPA 132

CPA Account accountant accounted 132

RogerRossmeisl

OCTOBER 20, 2024

Let’s say you have an unincorporated sideline activity that you consider a business. Perhaps you offer photography services, create custom artwork or sell handmade items online. Will the IRS agree that your venture is a business, not a hobby? It’s an essential question for tax purposes. If the expenses from an activity exceed the revenues, you have a net loss.

income tax 222

income tax tax return CPA Tax 222

CPA Practice

OCTOBER 16, 2024

Acumatica has launched its new Professional Services Edition , built to enable small and midsized professional services firms to increase efficiency and accelerate growth. This new solution marks an important expansion of the company’s industry-specific product line, delivering tailored features and capabilities designed to enhance collaboration and boost operational efficiency for firms in architecture, engineering, IT and beyond.

Construction 110

Construction Expense Management Manufacturing Maine 110

TaxConnex

OCTOBER 1, 2024

Information technology companies face a special challenge in sales tax and regulatory compliance, chiefly because of what you sell and how you sell it. What do you do exactly? Sell Software as a Service (SaaS)? Provide an information service? A telecom service? Your company probably fits into at least one of these categories – or more than one, which is where sales tax obligations and regulatory compliance can get complicated.

Technology 147

Technology Tax Sales 147

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

CPA

Acterys

OCTOBER 20, 2024

Reliable financial data is the compass that guides strategic decisions. But what happens when that compass is inaccurate? Errors in financial planning and analysis (FP&A) reports can set entire departments, or even the whole company, off course. More than half (59%) of accountants admit to making several errors per month, Gartner research found.

financial statements 130

financial statements accounting and finance accounting standards Sales 130

BurklandAssociates

OCTOBER 9, 2024

California’s new tax laws limit NOL deductions and tax credits for startups, raising potential tax burdens. Here’s what founders need to know to stay ahead. The post Significant Tax Changes for California Startups Beginning in Tax Year 2024 appeared first on Burkland.

California 147

California Tax 147

Accounting Today

OCTOBER 8, 2024

Our annual ranking of the most female-friendly workplaces in accounting.

Account 131

Account accountant accounted 131

RogerRossmeisl

OCTOBER 27, 2024

Skimming, where criminals use hidden digital readers to steal debit and credit card information, is a pervasive threat that can result in significant financial losses for businesses. The FBI estimates that ATM and point-of-sale (POS) skimming generates more than $1 billion for criminals annually. So if your business offers or operates these machines, you need to assess your risk and take steps to prevent skimming from happening on your premises.

CPA 208

CPA Sales 208

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Spend Management

CPA Practice

OCTOBER 14, 2024

A new survey from Big Four firm EY reveals that CFOs’ and corporate tax leaders’ stances on generative artificial intelligence have shifted over the past year—from mostly negative to mostly positive. Of the more than 1,600 professionals who participated in the 2024 EY Tax and Finance Operations Survey, 87% say they believe integrating GenAI will drive increased efficiency and effectiveness within the tax function, up significantly from 15% in 2023.

corporation tax 117

corporation tax Tax Finance Technology 117

Withum

OCTOBER 3, 2024

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia. Key Hurricane Helene Tax Relief Information Who qualifies for this relief?

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

Acterys

OCTOBER 17, 2024

From startups to multinationals, Microsoft Excel is at the core of countless organizations’ data analysis and decision-making processes, with the Association for Financial Professionals (AFP) noting that 70% of all companies “rely heavily” on spreadsheets for financial activities. On its own, Excel may not be enough, especially for FP&A processes requiring access to multiple sources of complex external data.

Government 130

Government Maine Sales Account 130

BurklandAssociates

OCTOBER 1, 2024

For healthcare founders, the MSO/PC model simplifies scaling, ensuring compliance with CPOM while allowing you to focus on delivering quality care. The post The MSO/PC Advantage for Scaling a Healthcare Startup appeared first on Burkland.

Healthcare 147

Healthcare accountant accounted Account 147

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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.