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 Account accountant 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 Account accountant accounted 124

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 Account accountant accounted 131

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

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

Sales

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

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

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

AccountingDepartment

OCTOBER 30, 2024

In the current competitive environment, small and medium-sized businesses (SMBs) must leverage every possible advantage to succeed and expand. Forecasting is a powerful tool that can greatly influence a company's financial success.

bookkeeping services 103

bookkeeping services bookkeeping Account accountant 103

Summit CPA

OCTOBER 24, 2024

Business owners experiencing inconsistent cash flow can feel out of control. Cash flow management isn't a one-size-fits-all, but there are a few common cash flow mistakes I see business owners making.

CPA 105

CPA Account accountant accounted 105

Accounting Today

OCTOBER 29, 2024

The Financial Accounting Standards Board issued a proposed accounting standards update to update the guidance on accounting for software, specifically when it comes to developing software for internal use.

accounting standards 122

accounting standards Account accountant accounted 122

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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.

CPA Practice

OCTOBER 29, 2024

By Mark Thomas. As you embark on your career journey into the world of accounting, you’ll find that your first years can be full of twists and turns. While some of you may seamlessly land a dream role right out of school, others might navigate through multiple positions before discovering their true professional passion. Amidst this exploration, it becomes crucial for you to refine your approach to personal finances so you can confidently manage the financial realities of adult life.

Account 133

Account accountant accounted Healthcare 133

Going Concern

OCTOBER 31, 2024

PwC has announced global revenue numbers for FY24 (unaudited) and like their compadres at Deloitte and EY, they had a relatively ass year compared to the golden days of the Covid-and-everything-after consulting boom. For the 12 months ending 30 June 2024, PwC firms around the world reported record gross revenues of $55.4 billion USD, up from $53.1 billion for FY23.

Tax 119

Tax Government 119

Cherry Bekaert

OCTOBER 10, 2024

Contributor: Tiffany Rodi, Sales & Use Tax Senior Manager In today’s complex tax landscape, businesses must navigate a myriad of regulations that vary by state and region. Product Tax Codes (PTCs) play a crucial role in this process by determining the applicable taxability for goods and services, which are often taxed and treated differently depending on the state or jurisdiction.

Tax 110

Tax audit Sales Legal 110

Withum

OCTOBER 21, 2024

The New Jersey Society of Certified Public Accountants (NJCPA) hosts their annual Ovation Awards to honor industry players with outstanding achievements in their fields. This year, Withum team members Kevin McElgunn , Vince Reilly and Frank Boutillette were honored in two of the six Ovation Award Categories. Innovation Kevin McElgunn, Partner, was selected as an Innovation honoree for being at the forefront of a digital transformation and positioning himself as a leader within the industry by se

New Jersey 105

New Jersey audit cpas Technology 105

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.

Accounting Insight

OCTOBER 17, 2024

Balance Sheet Companies are required to prepare a certain number of documents called financial statements. One of these is the balance sheet. Yet it is neither a balance nor a sheet. Moreover, putting ‘balance’ and ‘sheet’ together means nothing. They could have called it ‘equilibrium blanket’, no less inaccurate and every bit as silly. A balance sheet is simply a list of assets and liabilities, including equity.

financial statements 105

financial statements Account accountant accounted 105

Accounting Today

OCTOBER 15, 2024

The National Association of Tax Professionals criticized an ad promoting Intuit's TurboTax full-service option, saying it encouraged taxpayers to leave their professional preparers.

Tax 130

Tax tax preparation 130

CPA Practice

OCTOBER 11, 2024

Because of hurricanes Debby, Helene, and, most recently, Milton, all taxpayers in Florida now have until May 2025 to file individual and business tax returns and make tax payments, the IRS announced on Friday. As a result of Hurricane Milton—which hit the western coast of the Sunshine State during the late evening of Oct. 9 and crossed through Florida during the morning of Oct. 10—individuals and businesses in 51 counties will receive disaster tax relief.

Florida 137

Florida Tax tax return payroll 137

Going Concern

OCTOBER 16, 2024

h/t NL Times for reporting this story. Under normal circumstances we wouldn’t be terribly interested in news coming out of PwC Netherlands but in this case it’s relevant because the thing they did earned Dutch KPMG the largest PCAOB fine to date when they got caught doing it in 2023. Why’s our audit regulator fining overseas firms when they should be worried about our firms flunking audit inspections?

audit 126

audit accounting firms Tax Account 126

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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

AccountingDepartment

OCTOBER 31, 2024

In the ever-evolving landscape of business, one size rarely fits all. This is particularly true when it comes to financial management. Whether you're a burgeoning startup or an established enterprise, having a firm grasp on your finances is crucial.

Finance 96

Finance 96

Withum

OCTOBER 21, 2024

We are excited to share that Withum Wealth Management has been recognized once again by Forbes and SHOOK® Research as one of America’s Top RIA Firms for 2024 ! This prestigious ranking, developed by SHOOK® Research, is based on a comprehensive algorithm that includes both quantitative and qualitative data. Out of over 46,000 nominations, we are proud to be recognized as a top 250 RIA firm in the country.

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Dent Moses

OCTOBER 30, 2024

Just like your primary residence, a second home may have significant appreciation over the last several years. If it’s time to sell, it’s important to understand the tax consequences. Let’s look at a couple of examples: Sale of second home – 100% personal use Unlike your primary residence, no gain exclusion is available if you sell a vacation home.

Tax 97

Tax Alabama income tax Maine 97

Accounting Today

OCTOBER 22, 2024

The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.

Tax 126

Tax income tax 126

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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

CPA Practice

OCTOBER 8, 2024

As the rapid adoption of artificial intelligence (AI) transforms industries, organizations are becoming increasingly aware of the elevated risks it brings—particularly in the areas of cybersecurity and data privacy. The 12th Annual Global Technology Audit Risks Survey by Protiviti and The Institute of Internal Auditors (IIA) highlights how AI is reshaping the perception of existing risks, with 59% of IT audit leaders identifying AI as a significant threat over the next two to three years.

audit 136

audit auditor Government Finance 136

Going Concern

OCTOBER 14, 2024

For the second year in a row, EY is pushing back start dates for some new hires, in this case about 200 people who were expecting to start at Parthenon next month or in January. Earlier start date deferrals happened in November and August of 2023 , there may be more we haven’t mentioned. Probably are more. FT : On a call with staff, EY-Parthenon bosses blamed a disappointing market for mergers and acquisitions and private equity activity, meaning advisory revenue growth has been slower tha

audit 126

audit 126

Insightful Accountant

OCTOBER 3, 2024

The IRS reports a 30% increase in tax extensions over the past five years, with 19 million taxpayers filing for automatic extensions this year. This trend is reshaping our profession (and driving us all nuts).

Tax 105

Tax 105

Withum

OCTOBER 3, 2024

Withum is proud to share Caroline Weirich , Supervisor, was nominated at the Maryland Association of Certified Public Accountants (MACPA) 2024 Women to Watch Awards in the Emerging Leader category. The MACPA Foundation’s annual Women to Watch awards celebrates women in the accounting profession who demonstrate leadership and contribute to the profession through service and implementation of impactful initiatives.

Maryland 111

Maryland public accounting Washington audit 111

Speaker: Michael Mansard and Katherine Shealy

Generative AI is no longer just an exciting technological advancement––it’s a seismic shift in the SaaS landscape. Companies today are grappling with how to not only integrate AI into their products but how to do so in a way that makes financial sense. With the cost of developing AI capabilities growing, finding a flexible monetization strategy has become mission critical.

Gaming

Canopy Accounting

OCTOBER 16, 2024

Reserve your spot for Canopy's Demo Sweepstakes! Attend live to win from $5000 of prizes and see how current Canopy users have transformed their firms with all-in-one accounting practice management.

Account 98

Account accountant accounted 98

Accounting Today

OCTOBER 16, 2024

Ernst & Young is leveraging its $1 billion investment in talent and technology to expand the use of artificial intelligence and machine learning over the next four years.

audit 126

audit 126

CPA Practice

OCTOBER 31, 2024

Theresa Braine New York Daily News (TNS) Russia has fined Google $20,000,000,000,000,000,000,000,000,000,000,000, many times more than the world’s entire GDP, for blocking its YouTube accounts. That figure — a 20 followed by 33 zeroes — is $20 decillion, to the uninitiated who didn’t know such a word existed. Even the Kremlin acknowledged on Thursday that it was more a symbolic gesture than anything else.

New York 119

New York Legal Government Account 119

Going Concern

OCTOBER 11, 2024

PE Hub is reporting that according to three sources, CohnReznick is in talks with William Blair — the Patty Stanger of private equity investments — to “gauge new capital sources of investment” in the next few months. CohnReznick has $150 million of EBITDA, they said. The firm is currently sitting at #16 on the INSIDE Public Accounting Top 100 with $1,052,365,413 in revenue.

public accounting 119

public accounting accounting firms Account accountant 119

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.

accounting and finance