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2024 is already well underway, but we’re definitely still early enough into the year that it could go any direction. To help our team and clients prepare for what this year will bring, we’ve spent some time thinking about changes coming down the pipe. As we zoomed out and looked ahead, we identified three trends that will likely play a big role in the accounting industry — and financial best practices in general — through the rest of 2024.
With the technological transformation that's taking place in the business landscape, the importance of having the right practice management software has never been more critical for the accounting industry.
By Davis Bell. Structuring client engagements is one of the most critical aspects of running your practice. A thorough engagement letter acts as a roadmap – outlining services, enabling your firm to standardize its service pricing, and setting client expectations in addition to establishing the cash flow and revenue cycle for your firm. If your experience to date tells you this is easier in theory than practice, this eight step plan for developing your firm’s pricing strategy and engagement stru
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
The big story this week by a long shot was yesterday’s news that New Mountain Capital has taken a majority stake in Grant Thornton. When I say big I mean HUGE. Having written for this website for 15 years while observing the accounting profession from the sidelines and playfully making fun of Grant Thornton the entire time, I was not expecting that story to blow up the way it did.
CPAmerica, Inc. has announced its latest partnership with Marketing by Numbers , welcoming them as a new preferred provider for the association. Marketing by Numbers’ platform will enable member firms to harness AI and expertly prepared articles to easily craft thought leadership content and communicate it through email and social media. Since 2018, Marketing by Numbers has assisted accounting firms of all sizes in streamlining their marketing processes and driving revenue growth.
CPAmerica, Inc. has announced its latest partnership with Marketing by Numbers , welcoming them as a new preferred provider for the association. Marketing by Numbers’ platform will enable member firms to harness AI and expertly prepared articles to easily craft thought leadership content and communicate it through email and social media. Since 2018, Marketing by Numbers has assisted accounting firms of all sizes in streamlining their marketing processes and driving revenue growth.
The Internal Revenue Service hasn't fully updated its plans to use the tens of billions of dollars in additional funds provided by the Inflation Reduction Act, according to a new report.
With tax season nearly over, it’s a great opportunity to understand more about your client’s experience. A client satisfaction survey can help you do that. Personalized customer surveys are a powerful tool in garnering this essential information, enabling you to tailor your firm’s products, services, and communication effectively. Let’s delve into best practices for crafting these surveys, recommended software tools, suggested top questions to include, and a sample email to send to your clients
Freelance talent platform Upwork has conducted a study that reveals which types of skills are most important to accounting firms and corporate accounting departments when adding new employees to their rosters this year. “For the workforce, it is absolutely essential to understand what skills are most in demand in order to stay ahead and generate value, both for organizations and themselves,” Upwork said in the study.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Amazon still liable. The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties.
We are finding that, all too often, taxpayers that make Employee Retention Tax Credit (ERTC) claims by engaging a so-called “ERTC Mill” are never told of their responsibility to amend their applicable prior year federal income tax return(s), and are shocked to learn that they owe additional taxes, penalties and interest. In order to offset their wage expense for the amount of the credit claimed, taxpayers who file an amended Form 941-X to claim an ERTC refund must simultaneously file an amended
Even at the earliest stages, startups need to ensure their business models drive an appropriate balance of revenue growth and profitability. The post Efficiency Metrics for Early-Stage SaaS Startups in Today’s Funding Environment appeared first on Burkland.
In today's digital age, the convenience of instant money transfers has become a staple in our daily lives, thanks to platforms like Venmo, Cash App, and Zelle. While these apps excel in peer-to-peer transactions, they may fall short when it comes to meeting the needs of small businesses seeking reliable payment solutions. Despite their widespread popularity, these platforms pose limitations and risks that can significantly impact business operations and financial security.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
By Julie M. Bradlow. At the end of 2023, the U.S. Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended, does not automatically apply to all limited partners in a state law limited partnership. While this sentence may be clear, the implications for accounting firms in knowing how to advise clients may be a bit blurry.
Anders is proud to be recognized as one of Accounting Today’s Top 100 Firms for the fourth year in a row. After breaking into the Top 100 Firms in 2021, Anders has moved up the list to #74 for 2024. The firm is also recognized on the Regional Leaders list, ranking third on the list of firms headquartered in the Midwest. In 2023, Anders focused on organic growth with strategic efforts around advisory services, opening a second office location in Chesterfield, MO and hiring the firm’s first Chief
Succeeding in today’s business environment requires agility and rapidly adapting to change. For finance leadership and teams, this requires constantly analyzing, reforecasting, rethinking new data, and determining new approaches to drive business. No matter your industry, organizations must automate and streamline core financial management functions.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
KPMG Digital Gateway adds gen AI capacities; Chime now offers in-app tax filing; Financial Cents new ReCats tackles uncategorized client transactions; and other accounting tech news
The IRS said on Friday that it will likely end its moratorium on processing new employee retention credit (ERC) claims later this spring. In a news release, the IRS said: A specific [ERC processing] resumption date hasn’t been determined but, at this point, the IRS anticipates it will be sometime in the late spring. This pause will help the IRS review the ERC inventory with strong, new measures of scrutiny in place.
St. Louis startups and their funding sources are an integral part of the city’s revitalization as they bring jobs and innovation to the region. As the startup scene struggles with post-COVID recovery, rising inflation, high interest rates and other compounding economic factors, the Anders Startup and Entrepreneurial Services team surveyed area founders and funding sources to weigh in on the impacts.
In the latest episode of Cherry Bekaert’s Risk & Accounting Advisory podcast series, Neal Beggan , is joined by Steven Ursillo and Dan Sembler , both partners in our Information Assurance & Cybersecurity practice. During this episode they discuss the many benefits of Service Organization Control (SOC) 2 reports, such as security insights, gaining customer trust and risk management, and how those benefits bring value to a company.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
The Securities and Exchange Commission has charged two separate investment advisors for severely overstating their use of AI and machine learning for financial advice.
By Carl Hoemke. Great literature is full of head-scratchers. Some questions are tough to answer: the Sphinx’s riddle in Oedipus Rex , the lead casket that contains Portia’s picture in The Merchant of Venice , Gollum’s brainteasers in The Hobbit. Property tax compliance can be just as puzzling, and getting it right in some states can be more complex than in others.
As reported first by Financial Times earlier this week, Deloitte is undertaking an ambitious change-up in its global operations that’s expected to take a year. The restructuring will see Deloitte trim its five main service lines down to four. The change was “a fairly divisive topic internally” according to one former partner who spoke to FT.
Contributing Author Katie Thomas, CPA shows you how you can not only make it through "the busy season' by help future-proof your firm by adopting AI and proactive strategies.
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.
Deloitte is looking to overhaul its structure as the professional services firm looks to cut costs ahead of a market slowdown, according to the Financial Times.
Over the last several years, many unscrupulous tax credit promoters that marketed misleading information about the Employee Retention Credit (ERC). To counter those bad actors, the Internal Revenue Service is urging businesses to review seven suspicious signs of a bad claim and see if the agency’s special programs can help them avoid future compliance issues.
QuickBooks Online makes a chart of accounts accessible, but it's up to you to tailor it to your business's unique structure and financial tracking needs.
As a part of the enhanced emphasis for QuickBooks users to migrate from Desktop to Online, Intuit is actually making changes in QBO to 'make it more like desktop.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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