Sat.Aug 31, 2024 - Fri.Sep 06, 2024

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CPA business execs more pessimistic about economy

Accounting Today

Only about a quarter of CPA business executives expressed optimism about the prospects for the U.S. economy over the next 12 months, down from more than a third last quarter, according to a new survey.

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Triage approach: The key to a modern-day accountancy model?

Accounting Insight

I believe that two key ways new accountants can supercharge the development of their businesses is both by investing in continuous upskilling and by prioritising protecting their clients. They should always have the needs and financial wellbeing of their clients at the heart of their business model. And they should always be up to date with the latest news and legislation, so they can offer the best possible service.

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Meet the 2024 Best Midsized and Large Firms to Work For

Accounting Today

An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.

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Financial Planning & Analysis: The Secret to Scaling Your Business Successfully

AccountingDepartment

Financial Planning & Analysis (FP&A) is crucial for any business aiming to scale successfully. It involves detailed financial forecasting, budgeting, and analytical processes that drive strategic decision-making.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Why Practice Management Software is Essential for Modern Accountants and Bookkeepers

Accounting Insight

In the fast-paced world of accounting and bookkeeping, efficiency is paramount. As firms grow and client expectations rise, traditional methods of managing work become less effective. Practice management software (PMS) offers a modern solution, streamlining operations and helping firms stay competitive. What is Practice Management Software? Practice management software centralises client management, task tracking, document storage, and communication into one platform.

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Two-Thirds of U.S. Financial Services Execs Lack the Right Data Environment to Use AI Effectively

CPA Practice

More than two-thirds (76%) of financial services operations leaders in the U.S. believe that using AI would enable them to make faster, more effective decisions, but 62% lack the data management capabilities and data environment to capitalize on the technology’s potential. That is according to a new international study commissioned by ActiveOps , a leading provider of AI-powered decision intelligence for service operations.

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More Trending

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IRS Clarifies Inherited IRA 10-Year Rule – What You Need to Know about RMDs 

Anders CPA

The Department of the Treasury and the Internal Revenue Service (IRS) have released the highly anticipated clarification on inherited IRA accounts for non-spouse beneficiaries. Previous guidance didn’t indicate whether a taxpayer who inherits an IRA account would need to take annual required minimal distributions (RMDs) to comply with the 10-year rule.

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Accounting apps remain dominant for small biz but less than last year

Accounting Today

A recent survey has found that while small businesses still primarily use accounting software to record and manage transactions, usage dropped from 85% to 68% from April 2023 to July 2024.

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Managing generative AI in your firm

Accounting Today

The rapid adoption of gen AI has created opportunities for accounting firms — but also challenges.

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Sales tax on shipping: latest updates

TaxConnex

Ecommerce couldn’t exist without shipping (and probably not without shipping’s partner “handling,” either), but do either incur sales tax? As is often the case in sales tax, it depends on what, how and where. If the item is taxable, for instance, generally the shipping is, too – if the shipping is taxable at all in a jurisdiction, which it or the handling – or both – may be.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Data Backup Essentials: Safeguarding Your Startup’s Success

BurklandAssociates

By prioritizing backups, startups can protect their data, ensure compliance, maintain business continuity, and build trust with stakeholders. The post Data Backup Essentials: Safeguarding Your Startup’s Success appeared first on Burkland.

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Tax Help for Small Businesses and the Self-Employed: How Our Representation Tax Firm Can Assist

MyIRSRelief

Navigating the complex world of taxes can be a daunting task for small business owners and self-employed individuals. The intricacies of tax laws, the constant updates, and the myriad of forms and deadlines can make tax season a stressful time. However, with the right guidance and support, managing your taxes can become a streamlined and efficient process.

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Meet the 2024 Best Small Firms to Work For

Accounting Today

An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.

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KPMG Gets Aboard the Unlimited PTO Train

Going Concern

…as expected, some people are b g about it. Rumors have been swirling for weeks like so many unflushable logs that KPMG was about to announce unlimited PTO, something their competitors at EY did four years ago. As seen on r/KPMG: You all were right. They just announced unlimited PTO by u/Active_Ease_2367 in KPMG EY’s switch to unlimited PTO was immediately shat upon, and rightfully so, after a leaked senior management email made the rounds.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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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Combating Isolation and Finding Community With Project Refit

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post Combating Isolation and Finding Community With Project Refit appeared first on Withum.

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Sales Tax Holidays Are Not Profitable for Most Small Business Retailers, Says Report

CPA Practice

Small and midsize U.S. retailers face significant challenges when navigating sales tax holidays, according to a new report from Avalara, Inc. , a provider of tax compliance automation software for businesses of all sizes. While these holidays are designed to boost consumer spending and businesses’ sales, the complexities involved have actually left nearly 60% of retailers struggling to make a profit.

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Reining in the ERC, and other major developments at the IRS

Accounting Today

Reining in the ERC, and other major developments at the IRS

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Charting the Future of Accounting

Canopy Accounting

Executive Summary The accounting profession stands at the precipice of transformative change driven by rapid advancements in technology and evolving client expectations. This Canopy and CPA Practice Advisor survey asked respondents to share where they currently were and where they thought their firms would be three to five years from now on topics like automation, AI integration, workforce dynamics, remote work models, client interaction, digital transformation, security and more.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

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Hackers Stole Social Security Numbers From CBIZ Again

Going Concern

CBIZ has filed a data breach notification with the attorney general of Maine and you know what that means. Wait, maybe you don’t know what that means. Maine has a law that requires “information brokers” — such as an accounting firm that would be in possession of personal identifying information (PII) gathered from clients to perform services for them — to inform residents of Maine when they discover a data breach that has or is reasonably believed to have been acqui

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Watch Out for These Sales Tax Audit Triggers

CPA Practice

By Scott Peterson. With more than 13,000 sales and use tax jurisdictions across the United States, tax rates are subject to change as new policies are implemented and others expire. In a typical fiscal year, there are thousands of sales tax rate updates. Keeping up with sales tax changes can be difficult and, even if you’re careful, your business can be selected for a state audit.

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Bonadio Group CEO shares successful M&A strategy

Accounting Today

The Bonadio Group, a Top 50 Firm based in Pitsford, New York, has executed 22 successful mergers over the last 27 years, many of which have been overseen by CEO and managing partner Bruce Zicari.

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FFIEC Announces the Cybersecurity Assessment Tool (CAT) Sunset

Cherry Bekaert

The Federal Financial Institutions Examination Council (FFIEC) announced on August 29, 2024, that it will sunset the Cybersecurity Assessment Tool (CAT) on August 25, 2025, at which point it will be removed from the FFIEC website. This decision reflects the availability of new government resources and models for identifying and managing cybersecurity risk, including the National Institute of Standards and Technology (NIST) Cybersecurity Framework 2.0 and the Cybersecurity and Infrastructure Secu

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Back to Basics with Reconciliations

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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Hidden Levers in Your Financial Statements

Summit CPA

Did you know there are hidden business levers in your financial statements? That’s right. By fully understanding your financial statements inside and out, you can identify methods to alter your business cash flow. But that first part of that last sentence is key: you need to fully understand your business financials (which can seem pretty hard if you don’t break your financial metrics down into digestible pieces of information).

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Hunter Biden Intends to Change Plea to Guilty in Federal Tax Case

CPA Practice

By Muri Assunção New York Daily News (TNS) Hunter Biden intends to change his plea in his federal tax case, his lawyer told a federal judge in Los Angeles on Thursday just moments before jury selection was set to begin. The second son of President Joe Biden has been accused of nine misdemeanor and felony offenses. Prosecutors say the 54-year-old failed to pay $1.4 million in federal taxes and used the money to fund a lavish lifestyle.

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The new path to wealth creation for CPAs

Accounting Today

How do you fix an industry in consolidation? Enter private equity.

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Top Remote Accountants of the Week | September 5, 2024

Going Concern

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #22410136 Certifications: CPA Education: BS Accounting, MBA Experience (years): 15+ y

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

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

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Mastering the Capacity Mindset: My Journey with Canopy

Canopy Accounting

Capacity Mindset I have discovered the magic of the "capacity mindset" in the hectic accounting world. It's all about maximizing my time, resources, and talent to enhance my client services and grow my accounting firm.

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Review of Thomson Reuters Checkpoint Edge – The Accounting Technology Lab Podcast – Sept 2024

CPA Practice

Hosts Randy Johnston and Brian Tankersley, CPA, review Thomson Reuters Checkpoint Edge with CoCounsel. Designed for tax professionals and firms, Checkpoint Edge with CoCounsel is a research platform that includes new AI-assisted research capabilities to help tax professionals get trusted answers to complex tax research questions by using everyday language.

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IRS targets large partnerships for increased audits

Accounting Today

The Internal Revenue Service is ramping up its scrutiny of large partnerships, leveraging increased funding under the Inflation Reduction Act of 2022.

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What has Failure Taught Us in Achieving Success?

Accounting Insight

In the realm of any business industry, failure is frequently seen as something that should be avoided at all costs. The fear of making mistakes can be paralysing, leading accountancy firm owners to play it safe and avoid risks. However, the truth is that failure is not the enemy of success; it is an essential component of it. In fact, a few of the most successful accountancy firm owners have experienced significant failures on their path to success.

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Harness the Potential of Your Enterprise Knowledge

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.