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For goods-based businesses, managing inventory and purchases is at the heart of daily operations; it’s about having the right stock at the right time, minimizing manual effort, and making informed decisions to fuel your growth. We know these critical tasks can often feel like a constant juggle, taking valuable time away from what you do best. Over the coming months, a series of new inventory enhancements designed to give you greater clarity, control, and efficiency in these key areas will be rol
The Financial Accounting Standards Board is offering optional guidance on the measurement of credit losses for accounts receivable and contract assets.
If you’ve been thinking about incorporating generative AI into your accounting courses but aren’t sure where to start, I have a resource for you. AI in Accounting Education: A Practical Guide for Educators and Students is a free PDF book you can use immediately in your classes.
Tax affecting is one of the most debated issues when valuing interests in privately held businesses using the income approach. This term refers to discounting the projected earnings of pass-through businesses for hypothetical entity-level taxes. Unlike C corporations, pass-through entities — such as S corporations, partnerships, limited liability companies and sole proprietorships — don’t pay entity-level taxes.
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The accounting profession stands at a pivotal moment where technological advancement intersects with environmental stewardship. As firms navigate increasing pressure to adopt sustainable practices while maintaining audit excellence, electronic confirmation technology emerges as a powerful solution that addresses both imperatives simultaneously. Modern audit firms recognize that embracing digital confirmation processes isn’t merely about keeping pace with technology trends — it’s abou
The “One Big Beautiful Bill” (OBBB) significantly enhances both bonus depreciation and Section 179 expensing, giving businesses powerful tools to recover capital costs more quickly and improve cash flow. Bonus Depreciation Bonus depreciation is permanently restored to 100% for qualified property for 2025. Businesses can fully deduct the cost of most new and used tangible personal property, such as equipment, machinery, computers, qualified improvement property, and certain vehicles.
The “One Big Beautiful Bill” (OBBB) significantly enhances both bonus depreciation and Section 179 expensing, giving businesses powerful tools to recover capital costs more quickly and improve cash flow. Bonus Depreciation Bonus depreciation is permanently restored to 100% for qualified property for 2025. Businesses can fully deduct the cost of most new and used tangible personal property, such as equipment, machinery, computers, qualified improvement property, and certain vehicles.
Search for: Home About Us Log In Subscribe for Free My Account Log Out Accounting & Auditing Accounting ESG Financial Reporting Nonprofit Small Business Auditing Audit Standards PCAOB SEC Tax Taxes Income Tax IRS Legislation Sales Tax State Local Taxes Tax Planning Payroll Payroll Benefits Human Resources Payroll Software Payroll Taxes Tech Technology Artificial Intelligence Automation Cloud Technology Digital Currency Hardware Security Software Advisory Advisory CAS Financial Planning Risk
The sweeping federal tax overhaul enacted through the One Big Beautiful Bill Act (P.L. 119-21), signed into law on July 4, 2025, may prompt states to reevaluate their tax codes – though many may delay action until 2026. According to Baker Tilly tax experts Shannon Bonner and Andy Whitehair, the timing and breadth of the legislation may pose significant obstacles for state governments and multistate taxpayers alike. “As the majority of states concluded their 2025 legislative sessions prior
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.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
For many local government finance departments, reconciling accounts receivable (AR) can feel like an ongoing challenge. With accuracy and transparency on the line, getting it right is more than just a year-end task—it’s a year-round responsibility that ensures your books are clean, your audits go smoothly, and your leadership team has the data they need.
A New Milford accountant was sentenced on July 29 to three years in prison for stealing tens of thousands of dollars from clients, resolving three cases against him.
Jump to ↓ The real problem: The talent crisis meets a changing profession The AI solution: Redefining the role of the future accountant The cultural shift: From risk-averse to innovation ready The competitive imperative: Why the time to act is now The implementation roadmap: How to build an AI-ready accounting firm The future of accounting is here As AI creates new opportunities for more strategic, engaging work, many accounting firms are finding it harder than ever to attract and retain the ta
The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.
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The 2025 Intuit QuickBooks Accountant Technology Survey is out, and the future for accountants is looking both smarter and more complicated than ever. According to Intuit, accountants are charging full speed ahead into the world of AI, automation, and strategic advisory services. But is this transformation as rosy as it sounds? Let’s break down the highlights, take a step back for a reality check, and see who actually took this survey.
Search for: Home About Us Log In Subscribe for Free My Account Log Out Accounting & Auditing Accounting ESG Financial Reporting Nonprofit Small Business Auditing Audit Standards PCAOB SEC Tax Taxes Income Tax IRS Legislation Sales Tax State Local Taxes Tax Planning Payroll Payroll Benefits Human Resources Payroll Software Payroll Taxes Tech Technology Artificial Intelligence Automation Cloud Technology Digital Currency Hardware Security Software Advisory Advisory CAS Financial Planning Risk
Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, contains provisions relating to pass-through entity taxes (PTETs) that are seen as favorable for taxpayers, especially investment management companies in the financial services world. Key Takeaways: The OBBBA maintains PTET deductions and increases the SALT cap to $40,000 from 2025 to 2029.
In this episode, Casey Brothers interviews Adam Lean, who shares his unique journey from being an accountant to starting his own CFO advisory practice. Adam discusses the importance of cash flow for business success and how many business owners lack the financial knowledge to navigate their companies effectively. He emphasizes the need for accountants to transition from traditional bookkeeping roles to advisory services that truly help clients achieve their definitions of success.
Brian Tankersley, CPA, and Randy Johnston, discuss the accounting profession's talent shortage, and the ways firms and state societies are trying to remedy the challenges. Watch the video, listen to the audio, or read the transcript.
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
The 2025 Intuit QuickBooks Accountant Technology Survey is out, and the future for accountants is looking both smarter and more complicated than ever. According to Intuit, accountants are charging full speed ahead into the world of AI, automation, and strategic advisory services. But is this transformation as rosy as it sounds? Let’s break down the highlights, take a step back for a reality check, and see who actually took this survey.
We’re thrilled to announce that our entire accounting and tax team at Shay CPA P.C. has successfully completed their QuickBooks Online ProAdvisor and Advanced ProAdvisor recertifications for 2025. This annual group training is more than just an exam—it’s an opportunity for us to learn together, share best practices, and stay ahead of the curve on the platform’s most powerful features.
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Search for: Home About Us Log In Subscribe for Free My Account Log Out Accounting & Auditing Accounting ESG Financial Reporting Nonprofit Small Business Auditing Audit Standards PCAOB SEC Tax Taxes Income Tax IRS Legislation Sales Tax State Local Taxes Tax Planning Payroll Payroll Benefits Human Resources Payroll Software Payroll Taxes Tech Technology Artificial Intelligence Automation Cloud Technology Digital Currency Hardware Security Software Advisory Advisory CAS Financial Planning Risk
Menzies LLP - A leading chartered accountancy firm. Higher interest rates are creating VAT risks Get in touch With the current high levels of interest rates, solicitors and others holding client funds on deposit are receiving significant amounts of interest. Whilst much of this may be passed on to clients, HMRC do not allow netting off in the business’ partial exemption calculations.
Startups that invest in finance early make better strategic decisions as they scale, and raise capital on stronger terms. The post 10 Benefits of Fractional CFO Services for Startups appeared first on Burkland.
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Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
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