Going Concern

JUNE 4, 2024

Last week, I wrote a way too long piece on the Institute of Chartered Accountants in England and Wales (ICAEW)’s recent report “ Evolution of mid-tier accountancy firms.” Through a survey of managing partners at mid-tier firms across the pond, ICAEW took their temperature on five topics most impacting accounting firms of all sizes in current year: Firm structure and operational model Leadership and culture Talent Technology Financial performance and service lines See: Here’s Ho

accounting firms 116

accounting firms accountant Account accounted 116

Accounting Insight

JUNE 3, 2024

Accountants are often juggling multiple responsibilities when working with clients. For those working in-house, in finance teams or departments, it might well be that payroll has simply fallen within their remit, and so accountants who are less familiar with the nuances of payroll find themselves tasked with completing this very important task. While there’s no doubt that accountants are experts in finance, payroll can pose new challenges.

payroll 52

payroll accounting and finance Finance Education 52

CPA Practice

JUNE 2, 2024

Accounting, financial and tax professionals continue to face challenges related to talent, as well as advances in technology and firm culture. Dozens of firm leaders, educators, consultants and advisors to the profession are set to discuss these and other issues when they meet at the upcoming Accounting Leaders Think Tank Symposium in Las Vegas. Hosted by CPA Practice Advisor, the in-person, invitation-only event is being held at the Aria Resort and Casino on June 2, 2024, the day before the AIC

CPA 64

CPA accountant Account accounted 64

Accounting Today

JUNE 3, 2024

Laura Sprouse, the new CEO of Top 100 Firm Brown Edwards, shares her path to leadership, and where she's taking her firm in the future.

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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

CPA Practice

JUNE 5, 2024

By Suzanne Lucas, Inc. (TNS) Everyone says people don’t leave jobs; they leave managers. And yet, managers don’t get the feedback they need to improve, according to a new survey from Gallup. As a result, many think they’re doing a better job than they actually are. Here’s what you need to know—and what you can do about it. Managers and employees don’t see eye to eye Gallup found a disconnect across the board between manager self-perception and employee sentiment: Manager responsiveness “72 per

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Accounting Today

JUNE 3, 2024

CPAs do very good jobs helping clients build wealth, but many do not do so good with themselves. Here are some tips to help you grow your wealth.

cpas 97

cpas accountant Account accounted 97

Going Concern

JUNE 4, 2024

Who will take home Best in Show? I mean Best in State ? It remains to be seen. Forbes is now accepting nominations for its first Best-in-State CPAs list (not to be confused with America’s Top 200 CPAs ) which, according to them, is “a recognition designed to highlight this year’s the most exceptional, practicing CPAs throughout America—the elite of the accounting profession.” “Our aim is to identify the CPAs who have earned the respect of their peers and have demonstrated remar

cpas 65

cpas CPA accountant Account 65

Menzies

JUNE 5, 2024

Menzies LLP - A leading chartered accountancy firm. LATEST UPDATE Groups within the scope of Pillar 2 in the UK will need to register with HMRC within 6 months of the Group’s first accounting period starting on or after 31 December 2023. For example, Groups with a year end of 31 December 2024 will need to register with HMRC by 30 June 2025. WHAT IS PILLAR 2?

Finance 59

Finance Tax chartered accountant accounting and finance 59

Intuitive Accountant

JUNE 5, 2024

Xero, a leading cloud accounting platform, is excited to partner with App Academy for an exclusive webinar showcasing how Xero, combined with powerful integrations, can unlock maximum efficiency for your business.

accountant 52

accountant Account accounted 52

RogerRossmeisl

JUNE 5, 2024

After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes. You can potentially structure the purchase in two ways: Buy the assets of the business, or Buy the seller’s entity ownership interest if the target business is operated as a corporation, partnership or LLC.

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Tax CPA cpa firm business tax 207

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

BurklandAssociates

JUNE 4, 2024

Effective payroll management ensures compliance, enhances employee satisfaction, and provides a strong foundation for sustainable growth. The post Good Payroll Practices are Essential for Growing Startups appeared first on Burkland.

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payroll accountant accounted Account 162

MyIRSRelief

JUNE 3, 2024

Tax Audit Representation Learn how to navigate tax audits with confidence. Our step-by-step guide highlights the benefits of working with an Enrolled Agent for expert representation. Facing a tax audit can be a daunting experience, but with the right representation, you can navigate the process with confidence. In this comprehensive guide, we’ll walk you through the essential steps of tax audit representation, highlighting the benefits of working with an Enrolled Agent (EA).

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audit Tax tax return public accounting 130

CPA Practice

JUNE 4, 2024

The American Institute of Certified Public Accountants and CPA Practice Advisor have announced the recipients of the ‘Most Powerful Women in Accounting’ awards, now in their 13th year, which recognize leaders for their significant contributions to the profession. The 2024 awards were presented on the main stage at during the AICPA ENGAGE conference at the Aria Resort and Casino in Las Vegas on June 4, 2024.

accountant 135

accountant Account accounted CPA 135

RogerRossmeisl

JUNE 5, 2024

Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated land that you want to subdivide into lots, develop them and sell them off for a big profit. Either way, you’ll incur a tax bill. For purposes of these examples, let’s assume that you own the vacant land directly as an individual or indirectly through a single-member LLC (SMLLC), a partnership or a multi-member LLC that’s treated as a partnership for

Tax 182

Tax income tax CPA 182

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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.

financial statements

Accounting Today

JUNE 5, 2024

The Internal Revenue Service is turning to artificial intelligence to help select tax returns to audit and narrow the tax gap, but it needs to use this new technology consistently and transparently, according to a new government report.

Tax 133

Tax tax return audit Government 133

Going Concern

JUNE 6, 2024

In the latest pspspsps , er PCPS survey (that’s Private Companies Practice Section) put out by the AICPA every two years, talent is winning as the biggest worry for every size firm surveyed except for sole practitioners. The “sole” in sole practitioner meaning people who work for themselves and don’t have staff so yeah, if they too were worried about finding talent we might really be in trouble.

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accounting firms cpa firm accountant Account 120

CPA Practice

JUNE 4, 2024

By Kit Eaton, Inc. (TNS) Gen Z workers aren’t just the youngest folks in the office. They’ve got a radically different approach to how they make a living than preceding generations. Consider fresh data from the freelancer networking company Upwork to see why. Its new survey shows many Gen Z workers are basically shunning traditional office work norms altogether.

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Technology 129

RogerRossmeisl

JUNE 5, 2024

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and S corporations. In some cases, a business may decide to switch from one entity type to another. Although S corporations can provide substantial tax benefits over C corporations in some circumstances, there are potentially costly tax issues that you should assess before making th

CPA 173

CPA Tax cpa firm business tax 173

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

Accounting Today

JUNE 7, 2024

While the Internal Revenue Service has managed to reduce its backlog of unprocessed tax returns since the pandemic, one area where it's losing ground is in processing all the documentation for tax adjustments.

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Tax tax return 131

Going Concern

JUNE 7, 2024

By Sharon Lassar, PhD, CPA (Florida) John J. Gilbert Professor and Director of the School of Accountancy, University of Denver As much as I enjoy reading Going Concern, I find the article titled “ Did the Anti-150 Hour Crowd Finally Beat the AICPA Into Submission? Looks That Way ” troubling. Busy people might read only the title and believe that the “extra 30” is dying.

Education 111

Education accountant Account accounted 111

CPA Practice

JUNE 6, 2024

As we reach mid-year, it’s an opportune time for you to evaluate your firm’s marketing strategies and make necessary adjustments to drive continued growth. Focusing on the middle of the marketing funnel , where potential leads are weighing their options and seeking more information, can significantly enhance your ability to convert prospects into engaged clients.

accounting firms 117

accounting firms accountant Account accounted 117

Insightful Accountant

JUNE 5, 2024

Intuit has selected customers who display complexity for this new program and you need to be aware of this offering because some of those customers may also be your clients.

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account management accounting manager quickbooks accountant 98

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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.

Accounting Today

JUNE 7, 2024

The amount of time that identity theft victims have to wait for tax refunds has increased as the Internal Revenue Service has shifted priorities, with some victims waiting nearly two years.

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Tax 128

Going Concern

JUNE 6, 2024

It’s now June 6 and the four biggest and most prestige-iest professional accounting services providers in the world should have their logos covered in rainbows by now. It’s tradition. Slap the rainbows on on June 1, tweet a bunch of out and proud PR fluff about your LGBT staff, and then quietly pack the rainbows away on June 30 until the following year.

Maine 111

Maine accountant Account accounted 111

CPA Practice

JUNE 6, 2024

A new academic study found that companies increase their tax risk profile—thus more tax aggression and a higher likelihood of tax fraud—when they believe IRS scrutiny will be lower due to budget cuts. For the study, which appears in the American Accounting Association’s Journal of Forensic Accounting Research , researchers looked at data from 10,992 companies between the years of 2011 and 2021.

Tax 116

Tax forensic accounting audit corporation tax 116

Patriot Software

JUNE 5, 2024

One of the first things you do as a business owner is choose a business name. Your business can operate under your legal business name. Or, you can operate your company under a trade name. So, what’s the difference? Read on to learn more about business names vs. trade names and how they contrast.

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Legal accountant accounted Account 98

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.

Accounting Today

JUNE 5, 2024

Between inflation and reduced contributions, charities and not-for-profits are being squeezed, and even though millions of them are tax-exempt, a lot of them need extra help and time to file their Form 990 with the IRS.

Tax 126

Tax Non-Profits 126

Going Concern

JUNE 5, 2024

Announced Monday, Deloitte has acquired the assets — including software engineers, developers, and epidemiologists — of a disease surveillance business called CasePointer. If you try to visit CasePointer.com today, you are automatically redirected to Deloitte’s announcement. Said the press release : End Point’s team is one of the premier implementers of EpiTrax, an open-source platform for collecting, organizing and maintaining epidemiological data.

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Government 103

CPA Practice

JUNE 7, 2024

This week at the ENGAGE conference in Las Vegas, topline results of the Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey were revealed during the AICPA Town Hall. What was discussed were the biggest issues facing accounting firms of differing sizes in 2024—and which of those challenges were the most common. Survey respondents were asked to rank the impact of a host of issues on a 1 to 5 scale, with one being “minimal” and five being “extreme.

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cpa firm CPA tax return accounting firms 104

ThomsonReuters

JUNE 7, 2024

With AI-powered tax technology automating most traditional tax compliance work, forward-thinking accounting firms are increasingly shifting their business model and engaging clients in a new (and more profitable) way: advisory services. Making this transition, however, requires a change in mindset. Advisory engagements are centered around your client’s business goals and strategy (in addition to traditional tax compliance, of course) and are built into your client relationships from the get-go.

tax return 96

tax return accounting firms Technology Tax 96

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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.