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Last month we took a look at the 2024 Robert Half Salary Guide to get an idea what public accounting salaries should be in the range of next year, today it’s a similar report from Addison Group and their 2024 Workforce Planning Guide. The guide covers several industries, we are of course only here for accounting. Of the finance and accounting sector the report says: In a field known for ‘churn and burn,’ last year was one for the record books with higher job turnover than in any other thre
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For the next few months, accountants are fielding calls and emails with a tinge of desperation around payroll books that are a mess and reporting deadlines that seem impossible to meet. Let’s bring some peace to this process.
It's that time again to begin exploring ways we can manage tax season, stay sane, and still be intentional about how we lead our firms. In this webinar we'll discuss some capacity management tips for those running a tax season with a virtual team (which is more difficult to do than brock and mortar!).
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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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 government contracting sector is highly regulated and requires strict compliance with Defense Contract Audit Agency (DCAA) regulations. With ever-evolving regulations and a complex accounting system to manage, the government contract (GovCon) industry has a steep learning curve for small and medium-sized contractors.
Corporate financial planning and analysis (FP&A) involves more than budgets, forecasts and spreadsheets. FP&A solutions deliver key insights into business performance and financial health that drive strategic decisions and set companies on the path to growth. Unfortunately, too many companies are slow to detect or address performance issues.
The potential of AI is only continuing to grow. It is rapidly making its way into a range of industries, transforming the way we work and helping us take on more of what we do best. This is particularly true of accountancy professionals, who have been freed up to work smarter and get more done with their newfound time, instead of spending hours completing manual tasks.
The potential of AI is only continuing to grow. It is rapidly making its way into a range of industries, transforming the way we work and helping us take on more of what we do best. This is particularly true of accountancy professionals, who have been freed up to work smarter and get more done with their newfound time, instead of spending hours completing manual tasks.
Nominations for the 2024 Most Powerful Women in Accounting awards are now open. The award, presented by CPA Practice Advisor , in conjunction with the AICPA & CIMA Women’s Initiative, recognizes women leaders who have made significant contributions to the accounting and finance profession in the calendar year 2023 only. Click here for the nomination form.
Today, ensuring your firm delivers exceptional value and effectively captures that value through appropriate pricing is crucial. Traditional approaches to scoping and pricing jobs have often been fragmented and inconsistent. Partners and managers handle their own pricing on a client-by-client basis and often end up undercharging. The same client might get a quote from two offices for the same service priced drastically differently depending on who they call.
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income above this threshold aren’t subject to Social Security tax. Basic details The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees and self-employed workers — one for Old Age, Survivors and Disability Insurance, which is commonly known as the Social Security tax,
At TaxConnex, we work with telecommunications service providers of all sizes. Many are existing MSPs (Managed Service Providers) or IT management companies that would like to expand their service offering and become “stickier” with their clients. They may have infrastructure in place to support the sales tax requirements of their existing business, but the telecommunications service presents a different set of issues.
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
During our recent interview, Gaurav Bhasin shared valuable insights and tips for founders considering a private equity deal. The post Private Equity Insights for Startup Founders from Gaurav Bhasin appeared first on Burkland.
S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings. What is an S Corporation? An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) tax code requirements. The biggest feature of an S Corporation is that it provides its owners with limited liability protection, while allowing income and losses to be passed through t
A job as intimidating as setting up a system to handle your sales tax obligations can be a lot easier if you have an idea how long it will take. As with most aspects of sales tax, there are no fixed answers, but we can give you an idea. Depending on your business and where you are in your sales tax journey, it could take as little as a month or so or up to six months (or more).
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.
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Fresh off the rumor mill via the tip box: Forvis, in its laughable quest for global domination (WE DONT WANT TO BE THE BIG 4), is going to announce another merger/acquisition this week, presumably to leapfrog GT and BDO in the Americas or establish significant footing overseas. FORV/S (ugh why’d I type that) currently sits at #8 on the IPA Top 100 with $1.7 billion in revenue.
Accounts payable (AP) refers to the series of steps that companies take to pay their bills. It requires the safe handling and recording of funds transferring from the company’s bank account to suppliers and vendors. Automation replaces the manual accounts payable process with software that can make everyone more efficient and lead to cost savings.
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?
Transaction databases contain the details of thousands of real-life public and private stock sales. They’re used by business valuators when they apply the guideline transaction method. This method — also known as the merger and acquisition method — is a subset of the market approach. It derives a company’s value from prices paid for companies engaged in the same, or similar, lines of business.
In a move aimed at modernizing and streamlining the interaction between the Internal Revenue Service (IRS) and taxpayers, the IRS has recently announced the launch of its new Online Document Upload Tool. This tool represents a significant shift from the traditional method of correspondence, which primarily involved sending paper documents via regular mail.
It’s been just seven months since we launched our groundbreaking Guided Procurement module, which represents a new milestone for spend management. Guided Procurement closes the loop on the multi-stakeholder compliance requirements that must be met in the procurement process. The result is being able to offer a full procure-pay-close platform that has earned rave reviews.
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!
Surveillance is common in many workplaces, yet companies monitoring employee activities may keep the practice under wraps. This may be a mistake, because when workers know they’re being watched, they’re generally less likely to be dishonest. For example, several surveys have shown that clearly visible security cameras discourage employees from stealing inventory.
Plus, Google wants you to ditch passwords, and eight other things that happened in technology this past month and how they'll impact your clients and your firm.
The IRS said on Friday that it will not raise interest rates for the first calendar quarter of 2024. Beginning on Jan. 1, the rate for overpayments and underpayments for individuals will be 8% per year, compounded daily. Here is a complete list of the Q1 2024 rates: 8% for overpayments (payments made in excess of the amount owed), 7% for corporations. 5.5% for the portion of a corporate overpayment exceeding $10,000. 8% for underpayments (taxes owed but not fully paid). 10% for large corporate u
The Financial Education & Research Foundation (FERF) has released the findings of its 14th Annual Public Company Audit Fee Study , sponsored by Center for Audit Quality. The FERF 2022 Public Company Audit Fee Study Report examines audit fees companies paid to external auditors for auditing and related services for the period between June 2022 and May 2023.
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.
Perhaps you’ve been in this situation before: You have a financial emergency and need to get your hands on some cash. You consider taking money out of a traditional IRA or 401(k) account but if you’re under age 59½, such distributions are not only taxable but also are generally subject to a 10% penalty tax. There are exceptions to the 10% early withdrawal penalty, but they don’t cover many types of emergencies.
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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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