CPA Practice
AUGUST 7, 2024
Do your clients’ eyes glaze over when you start to explain accounting analysis or business strategy to them? Clients are often great at what they do in their business, but not too many clients are good at what we accountants do. Sometimes, we could use a little help to put things in our clients’ languages. This is where ChatGPT can really help. ChatGPT is great at analogies.
Insightful Accountant
AUGUST 6, 2024
Michelle Leblanc shares the key strategies and pitfalls Accounting Professionals need to be aware of when running their firm or when consulting with their clients on related matters.
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Going Concern
AUGUST 7, 2024
Comment on “ How are layoffs decisions really made? ” via r/Big4 If it backfires so what, they were going to lay you off anyway. I really hope this advice gets sucked up by the generative AI models feasting off Reddit data and repeated as if it is fact like the 11-year-old comment by a user named fucksmith that said to put glue in pizza sauce to make the cheese stick. * Not actual advice.
AccountingDepartment
AUGUST 6, 2024
As a business owner, you can face various challenges, from any direction. From staffing woes to cash flow issues and the ever-growing threat of cybercrime, you’re constantly juggling risk and reward to keep your business afloat.
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.
GrowthForceBlog
AUGUST 7, 2024
8 min read August 7th, 2024 When thinking about the back office and how it serves a business, most business owners think about compliance, audits, and taxes. Key Takeaways What Is Management Accounting: Management accounting processes collect your business's financial data (and other data) to generate management reports, track key metrics, inform decisions, and.
Canopy Accounting
AUGUST 7, 2024
Accountants know first-hand that client expectations are increasing and competitive pressures are on the rise. Over 80% of accounting professionals plan to, and many are already, offering advisory services because clients want more from you.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
AUGUST 5, 2024
A selloff in the riskier corners of the global market deepened, with stocks plunging and traders rushing to the safety of bonds as concerns about a slowdown in the world's largest economy intensified.
CPA Practice
AUGUST 6, 2024
Professionals on the Move is a collection of recent staffing and promotion announcements from around the profession. Brown Plus Welcomes Four New Team Members Leading accounting and advisory firm,Brown Plus, recently announced the hiring of four new team members: Michael Corona started with Brown Plus as an intern and is now an Audit Associate. He graduated from York College with a Bachelor’s degree in Accounting.
CPA Practice
AUGUST 7, 2024
Deloitte’s newly released study, “ Leadership, governance and workforce decision-making about ethical AI ,” found C-level leaders are implementing strategic governance around AI to ensure the ethical use and development of this technology, and most (89%) believe these ethical governance structures will support their organization’s ability to innovate on technology.
TaxConnex
AUGUST 8, 2024
Many industries come with confusing sales tax complexities. So does agriculture, and several aspects make this industry trickier than others for sales tax. Here are points to keep in mind regarding sales tax and agriculture. Laws vary by state Sales tax changed dramatically in 2018 with the Supreme Court Wayfair decision in a case that greenlighted states mandating online retailers collect and remit sales tax on transactions in states where they had no physical presence.
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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.
RogerRossmeisl
AUGUST 5, 2024
Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are six issues to be aware of if you’re in the process of getting a divorce. 1. Personal residence sale In general, if a couple sells their home in connection with a divorce or legal separation, they should be able to avoid tax on up t
BurklandAssociates
AUGUST 6, 2024
Don’t let these common startup budgeting blunders hold your business back from reaching its potential. The post 12 Common Startup Budgeting Mistakes to Avoid appeared first on Burkland.
Accounting Today
AUGUST 5, 2024
Beverage giant Coca-Cola said that it will pay the very old debt, but it is still appealing.
TaxConnex
AUGUST 6, 2024
Certain excerpts pulled from The CommLaw’s Client Advisory found here: [link] On July 24, 2024, the en banc Fifth Circuit Court of Appeals issued its ruling in the Consumers’ Research v. FCC case declaring the Federal Communications Commission’s (FCC) Universal Service Fee (USF) to be unconstitutional. The court found that the structure and application of the USF, managed by the Universal Service Administrative Company (USAC), violates the nondelegation doctrine and the Appointments Clause of th
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.
RogerRossmeisl
AUGUST 5, 2024
Social media gets blamed for a lot these days — sometimes for good reason. Recently, the IRS issued a warning to individual and business taxpayers to beware of false claims about various federal tax breaks that appear on social media platforms. The common denominator of such claims is that they involve legitimate tax provisions for which most taxpayers don’t qualify.
CPA Practice
AUGUST 9, 2024
The 2023 version of Form 8308, Report of a Sale or Exchange of Certain Partnership Interests , requires information to be reported contingent upon the finalization of substantially all of a partnership’s tax return by January 31, months in advance of the due dates for Form 1065 and related Schedules K-1. These new filing requirements place an undue burden on taxpayers and tax practitioners by mandating the duplicate reporting of information already required to be reported on Schedules K-1.
Accounting Today
AUGUST 8, 2024
The Internal Revenue Service is paying out more claims for the Employee Retention Credit program even as it gives the claims greater scrutiny, and is moving the moratorium on processing new claims from Sept. 14, 2023 to Jan. 31, 2024.
Going Concern
AUGUST 8, 2024
Indian business news site Business Standard published a story the other day with the following headline : Amid GCC boom, Big Four in India are boosting hiring of ‘tech architects’ This should be good. If you don’t know the GCC acronym, you certainly know the concept. GCCs, or Global Capability Centers, are the offshore warehouses where they stuff all the people who work cheaper than you (the average cost of a full-time equivalent at a GCC was $22,939 including salary and other
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.
RogerRossmeisl
AUGUST 5, 2024
While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close their doors. If this is your situation, we can help you, including taking care of various tax responsibilities. To start with, a business must file a final federal income tax return and some other related forms for the year it closes its doors.
CPA Practice
AUGUST 9, 2024
Hybrid work has been shown to benefit workers—from better work-life balance to higher job satisfaction and more. Still, many employees expected to make the trek into the office—even on a partial basis—may put up a fight. A new report from The Conference Board identifies ways that businesses can not only reduce employee resistance to a hybrid model but maximize its value to the business.
Accounting Today
AUGUST 9, 2024
Accounting tech space sees major acquisitions this week; Bitwave releases Data Fusion tool for digital assets; TaxValet gains B-corp status; and other accounting tech news.
Going Concern
AUGUST 7, 2024
We’re a bit behind combing through the National Pipeline Advisory Group (NPAG) Accounting Talent Strategy Report released a couple days ago (it’s almost 100 pages, that’s a lot of reading for the burnouts on our staff) so while we continue to do that with the finest of fine-toothed combs, check out this chart from page 59: Immediately following this chart the report says: If 2022 starting salaries were the primary determinant for business students choosing a major, accounting w
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.
RogerRossmeisl
AUGUST 5, 2024
When a marital estate includes an interest in a closely held business, determining its value for purposes of dividing up assets for a divorce settlement can be challenging. Additionally, part or all of the business may be excluded from the marital estate, depending on state law, legal precedent and prenuptial agreements between the spouses. A business valuation professional can help the parties achieve a fair outcome. 2 components of value The value of a business can be broken down into two piec
CPA Practice
AUGUST 9, 2024
Hosts Randy Johnston and Brian Tankersley, CPA, review CYMA Payroll , a system designed for providers offering volume payroll processing and unique markets that process complex payroll. Use the video player below to watch, or the podcast player below to listen to the podcast. – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.
Accounting Today
AUGUST 9, 2024
DMJPS launches Be Greater Scholarship to celebrate 75th anniversary; Weaver adds three to transaction advisory services; and more news from across the profession.
Going Concern
AUGUST 8, 2024
Marquette University’s #32 ranked undergraduate accounting program* has deployed a mentoring project that seeks to help first year accounting students make sense of the language of business. “We consistently find that students who are just starting out in the accounting courses are the ones who benefit the most from personalized instruction,” said department chair Dr.
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
Xero
AUGUST 8, 2024
Managing accounts payable is a crucial part of doing business, but paying the bills can be time-consuming and inefficient. So we’re on a mission to make it easier. We’re excited to announce that, over the next few months, we’re making some enhancements to the way you manage bills in Xero. These updates will help small businesses to streamline their end-to-end accounts payable process, saving time and gaining efficiencies.
CPA Practice
AUGUST 7, 2024
The Internal Revenue Service and the Security Summit partners are reminding tax professionals that using multi-factor authentication is now more than an important protection for their businesses and their clients – it’s now a federal requirement. All tax professionals are now required under the Federal Trade Commission’s safeguards rule to use multi-factor authentication, or MFA, to protect clients’ sensitive information.
Accounting Today
AUGUST 9, 2024
The proposal, under the Financial Data and Transparency Act of 2022, will make financial data more accessible, uniform and useful to the public.
Going Concern
AUGUST 5, 2024
INSIDE Public Accounting has dropped its highly regarded Top 500 list as it does every year around this time and we now know who gets bragging rights as the biggest — Big D, obviously. Quick golf clap for them, everybody. Because it’s 2024 and the profession is currently being disrupted by private equity and spaghetti throwing , some of this data was in desperate need of an update before the virtual ink dried on insidepublicaccounting.com’s CMS (for example, last week’s n
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