AccountingDepartment
NOVEMBER 6, 2024
Creating a budget is essential for any business aiming for long-term success. As a business owner or CFO of a small to medium-sized enterprise, you might have faced the difficulties involved in developing and executing a budget.
Accounting Today
NOVEMBER 4, 2024
Stagnating wages and gaps in career path awareness have pushed young professionals away from accounting, leading to a dearth of candidates and leaving firms scrambling to find a solution.
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TaxConnex
NOVEMBER 5, 2024
Whether you’re a consultant working with companies or you run your own company. whether you’re just looking to clean up your own operation or you’re doing homework for an M&A. sales tax risks and exposure should be an important topic. And getting to the bottom of that topic means knowing what questions to ask. Our recent webinar “What to Ask Your Clients to Identify & Manage Their Sales & Use Tax Risk” addressed many of these questions – along with what to do once you find out the an
Going Concern
NOVEMBER 6, 2024
Asks a user on r/CPA: “The United States can count millions [of] votes in one night but Nasba takes 3 months to grade my CPA exam that I took on a computer?” Obviously the answer is that they’re sadists and they enjoy f **g with people. For real though, people have been asking this since the CPA exam was computerized in 2004. The answer is not “because there’s a conspiracy to artificially inflate/deflate passing numbers to keep the credential prestigious” but
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
Canopy Accounting
NOVEMBER 6, 2024
In the dynamic world of virtual accounting, staying ahead of workflow management challenges is crucial. Rusty, the founder and CEO of Fulling Management and Accounting, is pioneering these efforts with innovative solutions. Recently, I had the pleasure of speaking with him about how his firm is leveraging Canopy, a leading cloud-based software, to streamline operations and deliver consistent service across 25 states.
CPA Practice
NOVEMBER 5, 2024
What’s the state of accounting education today? In the latest episode of the IssuesWatch Podcast, three college accounting educators – who are also CPAs – discuss enrollment trends, shifts in curriculum, accommodating varied learning styles, bridging the gap between the classroom and the workforce, alternative pathways to CPA and more. The episode is hosted by Don Meyer, NJCPA Chief Marketing Officer, and the guests are Steven J.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Withum
NOVEMBER 6, 2024
As attorneys navigate the complex landscape of tax law, understanding the financial intricacies of their practice is crucial. One area that demands attention is advanced client costs. These costs, often borne by attorneys on behalf of their clients, can significantly impact both financial reporting and overall profitability. What Are Advanced Client Costs?
Withum
NOVEMBER 5, 2024
A recent alert from Maryland-based cybersecurity firm Huntress highlights a concerning vulnerability for construction companies using on-premise accounting and project management software with default login credentials. According to their report last month, a brute-force attack targeted users of a major construction accounting software vendor, exposing sensitive data due to default usernames and passwords being left unchanged.
CPA Practice
NOVEMBER 7, 2024
By Steve Saah. Succession planning is a crucial element in the strategic management of any organization, and CPA firms are no exception. As a business built on expertise, relationships and trust, your firm can face unique challenges when it comes to transitioning leadership — especially if you don’t have a plan and the employees you’d like to promote aren’t prepared to ascend.
Accounting Today
NOVEMBER 5, 2024
A look inside the 10 best places to start a career in accounting.
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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.
BurklandAssociates
NOVEMBER 4, 2024
Protect your startup from costly fraud with expert insights, tools, and resources designed to strengthen your defenses. The post Fraud Prevention Resources for Startups appeared first on Burkland.
Acterys
NOVEMBER 8, 2024
As xP&A and write-back solutions in Power BI gain traction, more vendors are entering the field, each claiming to offer “enterprise” solutions. Some even tout their products as the “Ferrari” of the industry, though the comparison often feels more like a toy car stacked up against the real thing. True enterprise-grade xP&A solutions require specific core functionalities to meet rigorous demands, especially when supporting over 100 concurrent users.
TaxConnex
NOVEMBER 7, 2024
Assessing a company’s sales tax risk and exposure starts (and maybe ends) with the right questions. As we saw in a previous blog, these questions cover a range of topics and hinge on knowing many sales tax terms. Let’s look at some of the questions discussed in our recent webinar “What to Ask Your Clients to Identify & Manage Their Sales & Use Tax Risk.
CPA Practice
NOVEMBER 6, 2024
Being a CPA today is nothing like it was even a decade ago. With artificial intelligence and automation reshaping our profession, it’s easy to feel like we’re caught in an influx of change. But this transformation isn’t just about technology. It’s an opportunity to redefine what success looks like for us professionally and personally. The Old Way Isn’t Cutting It Remember when success meant burning the midnight oil, sacrificing weekends, and being available 24/7?
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.
Going Concern
NOVEMBER 7, 2024
*Smaller shops, that is. We know Big 4 and mid-tiers have this pricing thing down. Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. Or at least half-in. 90% plan to increase fees for individual tax returns, 87% plan to increase fees for business tax returns, 85% plan to increase fees for bookkeeping and accounting, and 76% plan to increase fees for CFO and controller se
Acterys
NOVEMBER 7, 2024
Excel is a powerful, flexible tool, but for growing companies, it’s no substitute for robust FFP&A software. The drawbacks of spreadsheets are numerous and can lead to tremendous financial losses for an organization. Take, for example, the Excel-related Value-at-Risk (VaR) model error that caused JP Morgan to lose $2 billion. The model couldn’t help the bank accurately predict potential losses, masking the true risk exposure of their synthetic credit portfolio.
Accounting Today
NOVEMBER 8, 2024
As the conversation around diversity, equity and inclusion evolves, firms find themselves in a complex dance where the music occasionally skips a beat.
CPA Practice
NOVEMBER 7, 2024
Being a CPA today is nothing like it was even a decade ago. With artificial intelligence and automation reshaping our profession, it’s easy to feel like we’re caught in an influx of change. But this transformation isn’t just about technology. It’s an opportunity to redefine what success looks like for us professionally and personally. The Old Way Isn’t Cutting It Remember when success meant burning the midnight oil, sacrificing weekends, and being available 24/7?
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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.
Going Concern
NOVEMBER 4, 2024
You’ve likely heard of people in audit getting disappeared from KPMG in recent days, we certainly have. Anyone who tried to cope with a “they must have been low performers” might want to season their hat before they eat it. WSJ reports today that KPMG is laying off a few hundred people in audit “as it works to make up for lower levels of voluntary turnover.” Meaning attrition is still too low.
Accounting Insight
NOVEMBER 6, 2024
Callum is an experienced marketing leader with 14 years of B2B marketing expertise. Having led multi-channel strategies at IRIS, he’s an expert in driving growth through demand generation and strategic, creative campaigns. Now at JE Consulting, Callum applies his deep knowledge of SaaS, fintech, and professional services to create impactful marketing strategies.
Accounting Today
NOVEMBER 5, 2024
Nearly three-quarters of U.S. masters of accounting programs reported application growth, according to a report by the Graduate Management Admission Council.
CPA Practice
NOVEMBER 8, 2024
The Information Technology Alliance (ITA), an independent membership association of leading mid-market technology professionals, consultants and product/service providers in North America, announced its new member firms during this week’s ITA Fall Collaborative in Indian Wells, including: Stellar One , providing a fast, reliable way to deploy and use an ERP system, featuring a unique subscription-based approach for cloud ERP software that puts businesses in control of costs and outcomes.
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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.
Going Concern
NOVEMBER 8, 2024
This Journal of Accountancy article was mentioned in last Friday’s Footnotes (*ahem* Footnotes a wrap-up of the week’s accounting news from other sources without the sassy GC commentary and is published every Friday at 5 pm Eastern) but honestly it deserves its own article in case anyone missed it. In “Offshoring for CPA firms: The hows and whys,” JofA throws out some figures on outsourcing — both foreign and domestic — based on responses from its MAP survey a
Randal DeHart
NOVEMBER 8, 2024
Delegation is a skill often discussed but rarely mastered, especially by small construction business owners wearing multiple hats. The balancing act of managing daily operations while pushing for growth can be overwhelming. Imagine if you could free up hours in your day to focus on strategic decisions rather than getting bogged down in every minute detail.
Accounting Today
NOVEMBER 5, 2024
The International Auditing and Assurance Standards Board is preparing for the adoption of its International Standard on Sustainability Assurance 5000 early next year as companies look to get outside approval from auditing firms on their environmental efforts.
CPA Practice
NOVEMBER 7, 2024
By Christian Jones. As you stare down EOY and all that means for the tax and accounting industry, you’re most likely in one of two boats: Running smooth operations and sleeping soundly at night. Sleeping like you’re starring in A Nightmare On Elm Street (see: poorly). But, wherever you’re at, you should be tracking with what I’m going to discuss in this article (as it has ramifications for digital marketing for accountants and tax professionals): Potential Antitrust Remedies By The DOJ To Google
Speaker: Michael Mansard and Katherine Shealy
Generative AI is no longer just an exciting technological advancement––it’s a seismic shift in the SaaS landscape. Companies today are grappling with how to not only integrate AI into their products but how to do so in a way that makes financial sense. With the cost of developing AI capabilities growing, finding a flexible monetization strategy has become mission critical.
Going Concern
NOVEMBER 8, 2024
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.
Withum
NOVEMBER 4, 2024
Withum is excited to welcome Steven Menna as a Partner in our Financial Services Team. Menna, who brings extensive experience and innovative leadership, will spearhead the firm’s national alternative investments expansion, focusing on the Southeast and Southwest regions. “I’m thrilled to be joining Withum’s dynamic team and advancing the firm’s presence and success nationally with concentrations from the southeast to the Southwest.
Accounting Today
NOVEMBER 8, 2024
Plus, Thomson Reuters integrates AI CoCounsel with tax solutions; Sovos introduces 1099 Professional solution; and other accounting tech updates.
CPA Practice
NOVEMBER 8, 2024
Brian Tankersley, CPA, and Randy Johnston review TaxGPT , an AI-powered tax assistant for accountants & tax professionals. The tech and accounting professionals that developed the TaxGPT co-pilot system says it can boost productivity by 10x. Watch the video, or listen to the audio podcast below (transcript below): Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.
Speaker: Genevieve Hancock, CPA
Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?
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