Accounting Today

SEPTEMBER 25, 2023

Technology expert Randy Johnston shines a spotlight on what accounting tech can do for you now — and what it's going to do for you in the future.

Technology 119

Technology Account accounted accountant 119

Ryan Lazanis

SEPTEMBER 27, 2023

If you’re a CPA firm looking to outsource your bookkeeping, you’ll want to check out this post on the 7 different options for outsourced bookkeeping for CPAs. In this article, I’ll run through some of the more modern options that might make the most sense for your firm at the moment. Check it out: Outsourced Bookkeeping for CPAs Terminology Before continuing, there are 3 terms that I want to briefly define which will have an impact on the option you select.

bookkeeping 98

bookkeeping cpas quickbooks bookkeeping services 98

BurklandAssociates

SEPTEMBER 25, 2023

New investment brings new financial reporting requirements to keep your investors and board of directors updated and informed. The post Financial Reporting for Newly Funded Startups appeared first on Burkland.

accounted 147

accounted Account accountant 147

TaxConnex

SEPTEMBER 26, 2023

The short answer: Maybe not. Let’s look at a few factors that could make relying solely on an eCommerce platform for your compliance risky for your company. A complex environment Economic nexus. The 2018 Supreme Court decision in South Dakota vs. Wayfair opened the floodgates for economic nexus throughout the U.S. In almost all states now, any derived revenue for your company will create nexus for the company making that revenue ($100,000 revenue or 200 transactions in a year, for instance).

Sales 264

Sales Tax South Dakota Colorado 264

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.

Account

Acterys

SEPTEMBER 25, 2023

Most businesses would benefit from better financial planning and analysis (FP&A), whether it’s through extended planning horizons, more frequent updates or taking a different approach to planning. Over 60% of organizations plan to make changes to their FP&A , according to Deloitte’s global planning and budgeting survey. Microsoft Power BI can simplify the financial reporting process, but it’s not an out-of-the-box solution for every need.

financial statements 130

financial statements NetSuite quickbooks accounting system 130

TaxConnex

SEPTEMBER 28, 2023

You’ve learned what states you have nexus in and you know where your products/services are taxable. Now it’s time to register with the states to collect and remit sales tax. Where to begin? You complete your sales tax registrations and file them with the departments of revenue or taxation in each state. These registrations are called sales tax permits, sometimes licenses.

Sales 147

Sales Tax West Virginia North Dakota 147

Cherry Bekaert

SEPTEMBER 26, 2023

The Federal Acquisition Regulation (FAR) doesn’t provide many details on the specifics related to an adequate timekeeping system. However, the Defense Contract Audit Agency (DCAA) does have some specific requirements they look for when performing accounting system audits and labor floor checks. In this episode of Cherry Bekaert’s GovCon Podcast, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa , a Senior Manager in the F

Government 105

Government auditor audit accounting system 105

Going Concern

SEPTEMBER 25, 2023

This stock photo is incredible. It really has nothing to do with the post, just needed an excuse to use it. It’s been a while since we’ve done an Accountants Behaving Badly megapost ( 381 days ago , actually), here’s some bad behavior you may have missed. As usual, it’s mostly terrible controls and the resulting embezzlement, this time there’s also a pervert in here so that’s something different.

tax preparation 105

tax preparation Gambling Account accounted 105

Accounting Today

SEPTEMBER 25, 2023

Good marketing ideas do not wither with age.

Account 128

Account accounted accountant 128

Airbase

SEPTEMBER 27, 2023

Procurement plays a pivotal role in cost management, risk mitigation, and financial performance. But until recently, many organizations struggled to define their processes and find the right tools to manage procurement. Let’s take a look at the basic elements of procurement, and how different organizations and systems approach this vital function. What is procurement?

Accounts Payable Automation 130

Accounts Payable Automation accounts payable Technology audit 130

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.

Account

Acterys

SEPTEMBER 25, 2023

Microsoft Power BI is a powerful analytics and business intelligence tool that helps users connect, model and visualize business data and integrate those visuals into commonly used apps and services. Businesses looking to make data-driven decisions rely on the platform for meaningful solutions and insights. But even if you’re using Power BI planning and forecasting to streamline your financial planning and analysis (FP&A) process, there’s probably more you can do to maximize its impact.

Maine 130

Maine Government Technology accounting and finance 130

Going Concern

SEPTEMBER 29, 2023

Ed. note: enjoy some wisdom from a profession OG in this guest post from Blake Oliver. TLDR: Patience, intellectual curiosity, soft skills, and time management will take you far. Most importantly, advocate for yourself. Different generations in the workforce often struggle to understand each other. But experts say one thing that young professionals can do, including young accountants, is to be more patient.

accounting careers 128

accounting careers Account accounted accountant 128

Accounting Today

SEPTEMBER 29, 2023

The Internal Revenue Service is allowing tax practitioners to see their client's tax information, including balance due amounts, as well as withdraw from their active authorizations online in real time.

Tax 138

Tax Account accounted accountant 138

Withum

SEPTEMBER 28, 2023

Tax Planning Checklist for New Law Firm Partners Understanding the intricacies of tax planning is essential for optimizing your financial position and ensuring compliance with relevant regulations. Utilize this Tax Planning Checklist to help navigate the complex landscape and maximize your tax benefits. Download The post From Associate to Partner: How Do Lawyers’ Taxes Change?

Tax 124

Tax tax planning 124

Advertisement

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.

financial statements

CPA Practice

SEPTEMBER 29, 2023

By Chelsea Hylton, Los Angeles Times (TNS) It seems like news about Shakira just doesn’t stop. This time the Grammy-winning artist is being charged by Spanish prosecutors for tax evasion. Prosecutors claim she failed to pay $7.1 million in taxes in 2018, according to the Associated Press. She is also being accused of using an offshore company to avoid paying taxes.

Tax 123

Tax income tax 123

Going Concern

SEPTEMBER 27, 2023

Once again @profjackc has tweeted a very important reminder for current CPA exam candidates and once again we’re here signal boosting said reminder because it’s important information. If you are a first time BEC section exam candidate most states will stop processing your NTS after next Monday, Oct. 1. Do not delay! Get in your BEC NTS ASAP.

CPA 122

CPA Rhode Island West Virginia South Dakota 122

Accounting Today

SEPTEMBER 26, 2023

In the context of accounts payable, generative AI can create text-based documents, such as invoices or purchase orders, by analyzing patterns and information from historical data.

accounts payable 127

accounts payable Account accounted accountant 127

Withum

SEPTEMBER 29, 2023

Did you know that 2023 marks the 20th year of Cybersecurity Awareness Month? Since 2003, we have seen the dramatic evolution of cyberattacks. Despite all the technological advances, the same cyber threats are still at play today. These include ransomware , phishing and business email compromise. Hackers are still trying to steal data, disrupt businesses and even harm physical safety.

Education 124

Education Technology 124

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

CPA Practice

SEPTEMBER 27, 2023

For accounting firms, automation gathers scattered information and turns it into valuable insights. It increases productivity and empowers firms to better advise their clients by putting the right data into the right hands at the right time. So, it should come as no surprise that firms using technology and software to streamline certain practices and processes are reaping the growth and financial benefits of automation.

Technology 122

Technology accounting firms Gaming accounts payable 122

Going Concern

SEPTEMBER 29, 2023

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. See ya. CPA Exam Friendly reminder, deadlines to apply for BEC before the new exam in 2024 are quickly approaching.

auditor 111

auditor audit New York CPA 111

Accounting Today

SEPTEMBER 27, 2023

The American Institute of CPAs expressed strong support for bipartisan legislation that would establish the accounting profession as a STEM career pathway.

Account 133

Account accounted accountant cpas 133

Cherry Bekaert

SEPTEMBER 29, 2023

The Employee Retention Credit (ERC) was created to reward companies that continued paying employees when operations were negatively impacted by the COVID-19 pandemic. It is a proven program that helps companies recover from the negative impacts of the pandemic on their business, even when ERC refund claims are filed today. The Internal Revenue Service (IRS) released new guidance for how employers may or may not have been impacted by supply chain disruptions during the pandemic.

audit 110

audit Tax Government 110

Advertisement

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

SEPTEMBER 26, 2023

By Dave Charest. Small businesses (SMBs) are a busy bunch. On any given day, they might be fulfilling orders, engaging with customers in-person, managing staff, doing their books — plus dozens of other tasks. Most would relish an opportunity to gain back an extra hour, or save some extra money. Luckily, those goals (and others) are attainable thanks to artificial intelligence (AI) and marketing automation.

Technology 122

Technology Sales bookkeeping accounted 122

Going Concern

SEPTEMBER 26, 2023

Fresh off the PCAOB’s published naughty list, BDO USA and partners Kevin Olvera and Michael Musick got sent to the punishment corner for violations of PCAOB rules and audit standards in connection with the audit of AAC Holdings, Inc. (“AAC”) for 2017. Specifically, audit partner Olvera failed to properly evaluate three significant estimates that AAC used to value substantially all of its client-related revenue and accounts receivable and Musick, who was not the engagement partner but someh

audit 110

audit auditor Account accounted 110

Accounting Today

SEPTEMBER 29, 2023

The Internal Revenue Service issued guidance Friday saying a redemption of shares in a money market fund won't be treated as part of a wash sale, which would subject it to taxes.

Tax 119

Tax Sales 119

Cherry Bekaert

SEPTEMBER 27, 2023

Welcome House Sponsor For more than 50 years, Welcome House has been committed to providing a high-quality, moral and open residential program to men struggling with alcoholism and addiction. Welcome House has held more than 50,000 12-step meetings and helped over 18,000 men become productive members of society again. This program has become a vital recovery resource and a community safety net for the Kansas City area.

Kansas 110

Kansas Tax Construction Finance 110

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.

CPA Practice

SEPTEMBER 28, 2023

Many accountants begin as solopreneurs but eventually want a reliable team. So, how can you make this transition smoothly without overwhelming yourself or your clients? On a recent Grow & Scale webinar, I spoke with Nicole Davis, CPA , who went through this process building her firm, Butler-Davis Tax & Accounting. She shared strategies with our audience that helped her go from solo to having a team.

payroll 119

payroll Start-ups CPA Construction 119

Canopy Accounting

SEPTEMBER 24, 2023

If you are looking to start offering tax resolution services, there’s a few things you’ll need to take care of first. One of those things is getting a CAF Number. We’ll walk you through that process here.

Tax 105

Tax 105

Accounting Today

SEPTEMBER 28, 2023

The standard reflects the many changes in technology, communications and business practices since an interim standard was first adopted decades ago.

audit 131

audit Technology 131

Cherry Bekaert

SEPTEMBER 27, 2023

Continuous improvement can be defined as organizational efforts to enhance systems, processes, products or services. It involves identifying inefficiencies, assessing existing methods and transforming business strategies to achieve better outcomes. In this episode of Cherry Bekaert’s Digital Journeys podcast series, Jim Holman , Director and Strategy & Operations Leader, and Steve Holliday , Director of Digital Advisory, discuss the importance of implementing a practice of continuous impro

108

108

Advertisement

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.