Reckon
MAY 20, 2024
Guest Post by Pohan Lin. Accounting tasks have long earned notoriety for their slow, manual nature. All that is now set to change, as accounting is one of the areas where automation can bring the biggest benefits. Admittedly, changing the way things have always been done is nerve-wracking. But there are some basic dos and don’ts you can follow to make sure your automation initiative runs as smoothly as possible.
Accounting Today
MAY 23, 2024
Traditional audits may hinder business growth potential as accounting firms are slow to embrace modern approaches, according to an Inflo report.
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Accounting Today
MAY 22, 2024
Once you see how much more value you and your managers can deliver to the firm when you're freed up from doing routine client work, you'll never want to go back to the old way of doing business.
CPA Practice
MAY 22, 2024
By Eli Gill. We’re in the midst of a revolution in the AI space. Splashy public models like OpenAI and ChatGPT are in the spotlight, bringing AI into focus where it has previously been considered a non-essential function. The move from classical AI models to advanced generative AI promises a rapid and continuing evolution that has profound implications for businesses.
Speaker: Dave Sackett
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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.
Shay CPA
MAY 22, 2024
Founding a tech startup is about bridging the gap between a need and reality with technology. That firm focus on the power of technology should encompass as many areas of your business operations as possible, accounting being the foundation of your venture. As a technology startup, we saw firsthand what was missing in the accounting and bookkeeping sphere: automated data entry, accounting for subscriptions, customization for specific business needs, and real-time and detailed financial picture o
Insightful Accountant
MAY 21, 2024
Whether you're a new accountant or a seasoned professional, it's always good to remember the importance of good communication.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
MAY 23, 2024
Tax season is finally over. You’ve worked diligently and spent long nights trying to meet the deadlines and demands of 82% of clients who want more from accounting professionals. I know the sigh of relief you feel once the rush is over. First and foremost, take time to rest – you deserve it. Once you feel like you’re back to your old self and have rested enough, it’s time to reflect on how the season went: What went well?
ThomsonReuters
MAY 22, 2024
From allowing for a remote work environment to eliminating the need for on-site data centers, cloud-based solutions have fundamentally changed how businesses operate, approach staffing, and serve clients. Is your firm among them? In today’s dynamic and competitive business environment, owners and partners of accounting and audit firms should, at least, be considering cloud-based technology as part of their broader strategies.
BurklandAssociates
MAY 21, 2024
Effective team and culture-building are keys to thriving in this new era of remote and hybrid work. The post From Isolation to Integration: Strengthening Team Culture at Your Remote Startup appeared first on Burkland.
Accounting Today
MAY 20, 2024
Strategic planning meetings and retreats for the firm should be free of distractions to be successful.
Speaker: Erroll Amacker
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
CPA Practice
MAY 22, 2024
Barry Melancon, CPA, CGMA, has announced that he will to retire on December 31, 2024, from his role as president and CEO of the American Institute of CPAs and CEO of the Association of International Certified Professional Accountants. Combined, the two organizations comprise the world’s largest membership of public and management accountants. Melancon has served in this role for 30 years.
Going Concern
MAY 22, 2024
Stephen Foley at Financial Times wrote something today that may be of interest to high school freshmen bound for the CPA track one day, an article that suggests the AICPA is giving up the fight to save 150 hours. The leaders of the US accounting profession have signaled they could cut the education requirements for becoming an accountant, amid growing alarm about a shortage of new recruits.
Withum
MAY 21, 2024
Withum is excited to share that Brian Bender , Partner and Team Leader of Withum’s Trade Associations and Membership Organizations Team, was named a 40 Under 40 Honoree by the Alexandria Chamber of Commerce. Brian has over 20 years of experience serving trade associations, membership organizations, social clubs, foundations, charities, and numerous other nonprofit entities that include complex consolidations with for-profit subsidiary companies and political action committees.
Accounting Today
MAY 22, 2024
The long-time head of the AICPA — and one of the foremost leaders of the profession — will step down on Dec.
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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.
CPA Practice
MAY 24, 2024
If you receive an award or legal settlement relating to a personal injury or illness, you normally don’t owe any federal income tax on the payment. However, as pointed out in a new case, Roman (TC Memo 2023-142, 11/28, 23, Uncle Sam may still be entitled to his fair slice of the pie. Background : Most types of compensation—like wages received for working—are subject to federal income tax.
Cherry Bekaert
MAY 22, 2024
Contributor: Michael Wallach, Senior Manager, Tax Services Established by the Tax Cuts and Jobs Act, the Opportunity Zone program has been a focal point for investors seeking tax incentives while simultaneously revitalizing economically distressed communities. One crucial aspect of managing investments in Qualified Opportunity Funds (QOFs) is understanding the tax impact stemming from the disposition of Qualified Opportunity Zone Business Property (QOZBP).
Going Concern
MAY 23, 2024
You’re scaring the children! Stories about the AICPA are like buses, you don’t see one for an hour weeks and then three show up at once. Today I come bearing a gift from this Journal of Accountancy article about new AICPA Chair Carla McCall, CPA, CGMA. Let’s see what “New AICPA chair: ‘We need to promote the cool work we do’” has to offer us.
Accounting Today
MAY 23, 2024
Test your accounting knowledge on AI job opportunities, M&A, and more. No. 2 pencil not required!
Speaker: Anna Tiomina, MBA
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?
CPA Practice
MAY 24, 2024
Think of strategic planning as your firm’s roadmap to the future. When change is the only constant , having a plan that adapts and evolves is crucial. But strategic planning is more than just a survival toolkit for today’s challenges. It’s your opportunity to shape what’s next. At the heart of this journey is setting visionary goals—these are the big, bold dreams that drive innovation and inspire change.
Cherry Bekaert
MAY 20, 2024
Contributor: Anthony Kocheran While in school, University of Iowa basketball player Caitlin Clark netted more than $3 million from name, image and likeness (NIL) deals. She’s far from the only college athlete taking advantage of NIL, a legal concept revolutionizing the way student-athletes can earn money while attending a college or university. Essentially, NIL allows college athletes to monetize their personal brand by profiting from their name, image and likeness through various opportunities,
Going Concern
MAY 21, 2024
We knew this was coming. Two months after the news hit that Grant Thornton is selling a majority stake to private equity firm New Mountain Capital , GT is laying off about 350 people according to an article published by Wall Street Journal late yesterday. The Chicago-based firm is in the process of notifying the workers this week, people familiar with the matter said.
Accounting Today
MAY 23, 2024
The Internal Revenue Service doesn't collect data on taxpayers' race or ethnicity, but some of its methods could lead to disparities in its audit rate.
Speaker: Joe Wroblewski, Senior Sales Engineer
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!
CPA Practice
MAY 24, 2024
Sixteen awards were doled out for exceptional accounting marketing during the Association for Accounting Marketing’s annual Summit event in Orlando on May 14, with Forvis being the big winner as the top 10 accounting firm received three awards. This year, AAM introduced two new award categories: Client Experience and Innovation & Strategic Achievement, reflecting the evolving landscape of marketing and growth in the accounting profession.
Cherry Bekaert
MAY 21, 2024
On April 24, 2024, the Internal Revenue Services (IRS) issued Chief Counsel Advice 2417021 (CCA), which discusses the treatment of credit card reward liabilities under Internal Revenue Code (IRC) section 461. The CCA was issued in direct response to the following questions presented by the U.S. Department of the Treasury regarding rewards liability accounting: When do credit card reward liabilities become fixed and determinable under section 461?
AccountingDepartment
MAY 23, 2024
We are thrilled to announce that AccountingDepartment.com has been awarded a spot on the Woodard 2024 Top 50 Accounting Services Practice list. Earning this distinction is a testament to AccountingDepartment.com's commitment to excellence for its clients.
Accounting Today
MAY 22, 2024
The program with third-party tax vendors will continue for another five years despite the IRS's recent Direct File pilot test.
Speaker: Melissa Hurrington
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.
Withum
MAY 22, 2024
Withum is proud to share that Nadia Matthie , Partner, has been appointed to the American Institute of CPA’s (AICPA’s) Employee Benefit Plans Expert Panel. Nadia Matthie has more than 25 years of experience in the profession serving single-employer benefit plans , multiemployer benefit plans and labor unions. She specializes in various types of benefit plans, including defined contribution plans, defined benefit plans, ESOPs, health and welfare plans, and other assurance services.
CPA Practice
MAY 23, 2024
By Dee DePass, Star Tribune (TNS) Employers are pushing back and asking for more time before implementing new federal overtime rules that will require them to pay overtime to more workers. The new Department of Labor rules take effect in two stages. Normally, employers can opt not to pay their salaried, white-collar employees “time and a half” for overtime hours worked, provided those employees make at least $35,568 a year.
Patriot Software
MAY 21, 2024
Canton, Ohio Patriot Software, a leading accounting and payroll software provider for American businesses, proudly announces the launch of its newest feature for accounting customers: ACH payments on invoices for customers who integrate with Stripe. With Stripe, customers can access two-day timing for ACH settlement, compared to 4-5 business days for standard ACH settlement.
Accounting Today
MAY 22, 2024
The Center for Audit Quality wants the Public Company Accounting Oversight Board to postpone sending two of its newly approved standards, on quality control and auditor responsibilities, to the SEC for final approval.
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