CPA Practice

OCTOBER 10, 2023

By Richard Lavina and Ralph Carnicer. The demand for skilled tax practitioners in the accounting profession has never been more critical. With the continuous growth in the IRC’s complexity and the rising number of tax filings each year (at both the federal, state, and local levels), the likelihood of making an inaccurate filing is increasing to unprecedented levels; which in turn is stretching industry talent dangerously thin.

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Canopy Accounting

OCTOBER 12, 2023

If you did a quick web search for “employee research group,” the results would give you the impression that their only purpose is to foster inclusivity and support diversity, but they offer so much more. It would also seem that they only make sense for larger organizations with groups of minorities or other shared dimensions of diversity. This emphasis on employee research groups (ERGs) as affinity groups for minorities might lead some to believe that small accounting firms may not benefit from

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Accounting for Good

OCTOBER 9, 2023

Key performance indicators for NFP accountants are the best way to measure performance outcomes and gain beneficial financial insights for your clients | AFG

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Accounting Today

OCTOBER 10, 2023

The guidance explains how buyers of electric vehicles can transfer their tax credits to dealers and get advance payments that lower the cost.

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Tax 130

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.

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Accounting Insight

OCTOBER 11, 2023

As the accounting industry continues to evolve in an era of digital transformation, it’s crucial that we look into what is impacting practices today and tomorrow. From advancements in technology to shifts in work culture and regulatory changes, these trends are not only reshaping the way accountants work but redefining their role as trusted advisors in an increasingly complex financial world.

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CPA Practice

OCTOBER 10, 2023

The modern-day marketing professional has an extensive rotation of roles to fill—and only so many hours during the workday to do so. But with the help of artificial intelligence, marketers have access to tools that allow them to work more effectively and efficiently. Becca McGovern During the 2023 Association for Accounting Marketing (AAM) Emerge Virtual Conference on Oct. 4, Becca McGovern, marketing manager at top 200 firm Johnson Lambert, provided five ways AI can help accounting firms person

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CPA Practice

OCTOBER 11, 2023

Public accounting firms in the United States reported strong top-line and bottom-line growth in their latest fiscal year results, driven by high demand for their services, according to a survey by the American Institute of CPAs and the Chartered Institute of Management Accountants. The 1,117 firms participating in the survey reported a fiscal year 2022 median growth rate of 9.1% in net revenue over the previous year, according to the 2023 National Management of an Accounting Practice (MAP) Surve

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Accounting Today

OCTOBER 10, 2023

State and local organizations hope to learn what's behind the decline in young people pursuing the CPA.

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TaxConnex

OCTOBER 12, 2023

The past two years have seen nearly 46,000 M&As in the United States. It's clear that nothing can boost a business like the right merger or acquisition. Yet many of these deals tank: as many as 70% to 90%, Harvard Business School has reported. And one thing that can pound a stake through the heart of a promising M&A is unearthing past tax liability during due diligence.

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BurklandAssociates

OCTOBER 10, 2023

A straightforward approach to organizing your startup's Chart of Accounts with industry-specific example templates. The post Setting Up Your Startup’s Chart of Accounts appeared first on Burkland.

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accountant Account accounted 147

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

CPA Practice

OCTOBER 12, 2023

By Gail Cole. Retail sales of guns and ammunition will soon be subject to a new state excise tax in California. Under Assembly Bill 28, which Governor Gavin Newsom signed into law on September 26, 2023, an 11% tax will apply to gross receipts from retail sales of ammunition, firearms, and firearm precursor parts starting July 1, 2024. Revenue generated by the tax will be deposited in a new Gun Violence Prevention and School Safety Fund.

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Accounting Today

OCTOBER 10, 2023

A majority of chief audit executives and information technology audit leaders consider cybersecurity to be a top risk over the next year, but they're less concerned about artificial intelligence.

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auditor audit Technology 134

Going Concern

OCTOBER 12, 2023

Confronted by multiple reports of a culture that puts profit over people and rewards partners who bring in business regardless of how toxic the partners are, PwC Australia’s new CEO Kevin Burrowes — who is in his position because the last CEO had to resign in shame — is taking a unique approach to promotions. Rather than recognizing those individuals who play the game best, the firm is pivoting toward using merit as the ultimate measure and has six new leaders to prove it.

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Construction Gaming Government Education 124

Withum

OCTOBER 13, 2023

Capital accounts track the net equity owned by each partner in a partnership and typically include such information as initial and subsequent capital contributions, each partner’s distributive share of the profits and losses, and all distributions. Capital Accounts Beginning in tax year 2020, the IRS required partnerships to report their capital accounts on Schedule K-1, Item L, partners’ capital account analysis using the tax basis.

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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.

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CPA Practice

OCTOBER 12, 2023

By Shane Westra. Artificial Intelligence, or AI as it is regularly referred to…is undoubtedly the business buzzword of the year. This is for good reason because this technology continues to make many common business functions far more efficient than ever before, including new solutions that can help accounting firms advance their productivity and unlock more freedom for firm owners and employees.

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Accounting Today

OCTOBER 10, 2023

The Financial Accounting Standards Board is incorporating some of the Securities and Exchange Commission's disclosure requirements into its Accounting Standards Codification.

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Going Concern

OCTOBER 13, 2023

Big 4 alum and professor of accounting and finance at the College of Saint Benedict and Saint John’s University in Minnesota Boz Bostrom has penned a piece for the MNCPA blog on why, in his opinion and supported by research, the 150 hour rule must change. As you know, there is a battle brewing in his state over adding a second pathway to CPA licensure that would allow Minnesota candidates to be licensed with 120 units and additional work experience, a move the AICPA has publicly (and privately,

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cpas Minnesota CPA Education 116

Cherry Bekaert

OCTOBER 10, 2023

On September 15, 2023, the Internal Revenue Service (IRS) released proposed changes to Form 6765, Credit for Increasing Research Activities, and requested feedback, which is due by October 31, 2023. The proposed updates to Form 6765 require information like that which is required when submitting amended returns. See the Chief Counsel Memorandum issued September 17, 2021.

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Tax Start-ups Sales 115

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

OCTOBER 12, 2023

By now we all know that artificial intelligence is a pretty powerful tool, and it can solve a lot of problems in the workplace. But some accounting firm partners and stakeholders may still not be convinced that they should invest in the technology and allow AI to be used by staff on certain projects. Nicole Sterling “When communicating the benefits of using AI to them, you need to do so in a compelling way and be able to get them to buy in to what you’re actually selling them,” Nicole Sterling,

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Technology accounting firms accountant Account 119

Accounting Today

OCTOBER 12, 2023

Monthly checks for the more than 71 million people receiving retirement or disability benefits in the U.S. will get a 3.2% increase next year, the smallest gain since 2021, reflecting a significant cooling in the rate of inflation.

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Going Concern

OCTOBER 10, 2023

Shout-out Stephen Foley at FT for writing up the most important part of Deloitte’s recently released transparency report : PAY. Let’s jump right in and do our own digging. The 2023 Transparency Report talks quite a bit about governance, ethics, audit quality, leadership, blah blah. You’re welcome to check it out should any of these appeal to you, just know each section is littered with Deloitte’s trademark self-fellating language.

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Insightful Accountant

OCTOBER 10, 2023

Join Liz Scott on Wednesday, October 18, 2023 at 2 PM Eastern for the latest and greatest news about the QuickBooks Online product line-up. You won't want to miss it.

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quickbooks 115

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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 13, 2023

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) The Social Security tax, withheld from each paycheck, stops once your income reaches a certain amount. That is due to the “Social Security wage base,” which is the maximum amount of earnings subject to Social Security tax. These taxes fund the Social Security program, which provides retirement, disability, and survivor benefits to eligible recipients.

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Accounting Today

OCTOBER 13, 2023

With the number of freshly minted accounting graduates dwindling and the consumer price index still rising, the law of supply and demand is driving up salaries.

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Going Concern

OCTOBER 9, 2023

KPMG released its 2023 CEO Outlook last week and we really don’t care that 73 percent of CEOs surveyed have confidence in the global economic outlook over the next three years nor do we care that three-quarters of them are concerned about rising interest rates leading to a recession. Let’s instead highlight the talent portion: This year’s challenging global landscape underscores the pressures CEOs feel to make decisions on a variety of critical issues — and they impact how CEOs plan

Real Estate 115

Real Estate 115

Cherry Bekaert

OCTOBER 9, 2023

When investing in real estate funds , especially amid a volatile macroeconomic landscape, it is imperative to know the differences between the various types of funds. To ensure that you’re maximizing your investment dollars, you must understand the intricacies of the most notable types of real estate funds: real estate investment trusts (REITs), open-end funds and closed-end funds.

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Real Estate Non-Profits income tax Mississippi 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

OCTOBER 11, 2023

Case studies are an effective way to demonstrate your ability to meet client needs. It is a solid measuring ground for the outcomes and advantages of your team’s knowledge, experience, and expertise. Studies highlighting triumphs are a best-practice marketing method to capture the attention of prospective clients and nurture their conversion to loyal clients.

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Accounting Today

OCTOBER 10, 2023

The Pittsburgh Steelers kicked off an unusual multiyear partnership Tuesday with the Center for Audit Quality's Accounting+ initiative with the goal of drafting a new generation of diverse students to join the accounting profession.

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Going Concern

OCTOBER 11, 2023

Us olds are sitting this one out. The Illinois CPA Society (ICPAS), in partnership with the Center for Accounting Transformation (the Center) and other stakeholders, has launched a survey to figure out why modern day accounting students and professionals are so uninterested in pursuing the CPA credential. ICPAS tackled the issue before in 2020’s A CPA Pipeline Report: Decoding the Decline but things have changed since then and young people who graduated into the pandemic may have unique pe

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Cherry Bekaert

OCTOBER 12, 2023

For small and mid-sized technology companies, the path to success is often paved with groundbreaking ideas, relentless dedication and, increasingly, strategic financial planning. One such financial strategy that has gained prominence in recent years is the utilization of Qualified Small Business Stock (QSBS). This specialized category of stock offers a unique set of tax benefits and incentives for both entrepreneurs and investors, as it allows for the exclusion of capital gains when the stock is

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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.