ThomsonReuters

APRIL 30, 2024

Jump to: The role of emotional intelligence (EQ) in client relationships The evolution of client service in accounting firms Leveraging technology for enhanced client service Forward-looking accountants are increasingly realizing the importance of harmonizing technical tax expertise with interpersonal relationship skills.

Technology 52

Technology accounting firms financial statements Tax 52

ThomsonReuters

JUNE 16, 2023

Is your firm running its gears on outdated accounting technology? Unfortunately, failure to do so places firms at a significant disadvantage. In fact, a recent survey by Accounting Today found that half of the firms surveyed said they plan to boost their spending on technology in 2023. Change is not easy.

Technology 98

Technology Account accountant accounted 98

ThomsonReuters

AUGUST 1, 2023

Thomson Reuters set out to answer that question by surveying more than 100 CPAs who are currently employed as accountants. The results show that tax and accounting professionals know exactly what they want in an employer—and here’s how firms can heed the call. hours per week. hours per week, a reduction of about 12%.

Account 98

Account accountant accounted accounting firms 98

CPA Practice

OCTOBER 16, 2023

Tax season poses immense challenges for accounting firms. Many firms turn to outsourcing as a solution. So how can firms ensure they implement outsourcing in a way that enhances, rather than hampers, operations? Capacity constraints force CPAs to work overtime to meet tight deadlines.

cpas 69

cpas Education accounting firms Tax 69

ThomsonReuters

JULY 11, 2023

Accounting firms turn to a three-tiered approach to uncover opportunities Accounting firms are severely impacted by the dynamic post-pandemic economy. Firms are faced with the external challenges of meeting new client demands, increasing compliance pressures, and tax law changes. According to Revelio Labs Inc.,

Technology 73

Technology Account accountant accounted 73

ThomsonReuters

OCTOBER 27, 2023

But, many accounting firms offering pro bono services fail to take a strategic and organized approach, opening themselves up to a host of potential challenges. One reason firms fail to plan is that it’s difficult to decide how much to give away and to whom. This will set you up for success now and in the future.

Account 59

Account accountant accounted accounting firms 59

ThomsonReuters

FEBRUARY 27, 2024

Sandy Heit’s path to owning her own accounting firm was a bit unconventional — and ultimately involved her love for photography. She pursued accounting due to a combination of a love for math and heeding her mother’s advice to have a stable job.

cpa firm 52

cpa firm accounting firms accounting careers CPA 52

ThomsonReuters

FEBRUARY 26, 2024

There are many paths to accountancy, but this is one we don’t hear of often:  Erin Heath   grew up on a cattle ranch in South Dakota, where many of her “ranch-hand” duties sparked her interest in numbers. But it was an introduction to accounting class in high school that paved the way. “It It was love at first sight,” she recalls. “I

CPA 98

CPA South Dakota Nebraska Tax 98

ThomsonReuters

MARCH 12, 2024

Jump to: Identify the common barriers to change Overcome the barriers with communication Reframe the narrative Remember your clients Set the expectations for adaptation Running an accounting firm can feel like you’re constantly chasing changes. These tips should help your firm prepare for and maximize the benefits of change.

cpas 52

cpas Technology accounting firms Tax 52

Ryan Lazanis

FEBRUARY 3, 2023

If you’re looking for tried, tested, and true tactics to help you generate more accounting leads for your firm, you’re in the right place. Table of Contents What is Lead Generation for Accountants 21 Tactics to Help You Generate Leads What is Lead Generation for Accountants? Let’s go! followers.

Account 52

Account accountant accounted accounting firms 52

ThomsonReuters

JULY 13, 2023

If you’re part of a small or medium-sized tax and accounting firm, you may think artificial intelligence (AI) solutions are solely designed for large organizations – but think again. To learn more, let’s take a look at three ways accounting firms can use AI as a competitive advantage.

Tax 97

Tax Technology accounting firms income tax 97

ThomsonReuters

FEBRUARY 9, 2024

Societal concerns: The act underscores broader societal concerns about income inequality and corporate accountability, urging tax firms to engage in discussions aligned with financial goals and ethical responsibilities. Stay tuned for further updates on these developments!

Tax 110

Tax tax return Technology income tax 110

ThomsonReuters

AUGUST 3, 2023

As a result of the explosion of new tools and software available, accounting firms have a significant opportunity to improve their reputational status through enhanced advisory service offerings. Accounting firms who are equipped with these tools and information will be in a position to help their clients respond to these changes.

Technology 98

Technology accounting firms Tax Account 98

Withum

DECEMBER 12, 2023

Certified Public Accountants (CPAs) are the trusted providers of most companies for financial auditing and have been supporting the assurance of non-financial ESG and climate information for decades. One International Federation of Accountants (IFAC) study revealed that 70% of global ESG assurance is performed by accountants.

audit 59

audit cpas Account accountant 59

ThomsonReuters

MAY 9, 2024

However, since its implementation, the CTA has faced criticism and legal challenges, particularly from accounting professionals and small businesses. Accounting professionals and small businesses have expressed apprehension about the filing requirements and the burden they place on small businesses and those who assist them.

Tax 52

Tax Education cpas Legal 52

ThomsonReuters

JANUARY 29, 2024

Today’s accounting firm leaders are constantly grappling with two pivotal challenges: attracting top-tier talent and holding on to the people they have. The challenge for CPA firms is to create an environment and a career path that talented young people find appealing.

Technology 52

Technology accounting degree tax preparation cpa firm 52

ThomsonReuters

MARCH 8, 2024

When it comes to changing pre-established practices in your firm, the logistics can feel like a moving target. As busy accountants, it’s easy to get stuck in survival mode. It can take some effort to think outside the box to grow your CPA firm into a truly successful firm of the future.

cpa firm 96

cpa firm CPA Technology Tax 96

ThomsonReuters

FEBRUARY 28, 2024

Alicia Shaul ’s path to accounting was less than traditional. Once, one of Shaul’s professors spoke about the importance of business development, saying that if you ever want to become a partner in a firm, you need to become a rainmaker and start bringing in your own work. This strengthened her desire  to have her own firm.

cpa firm 98

cpa firm CPA Non-Profits financial statements 98

CPA Practice

NOVEMBER 6, 2023

AICPA News is a round-up of recent announcements from the American Institute of Certified Public Accountants. The program allows UMCS students to kickstart their careers by developing their accounting, finance, and business skills and earning prestigious professional qualifications alongside their university studies.

Texas 114

Texas Georgia accounting and finance Virginia 114

ThomsonReuters

JANUARY 14, 2022

Being an accountant means that work often comes in ebbs and flows. It’s a significant issue for tax professionals and accountants. Being an accountant is different. Whether you are a remote worker or managing a full accounting firm, stop the burnout before it starts. What is burnout? Set boundaries.

Tax 98

Tax Technology Start-ups accounting software 98

ThomsonReuters

MARCH 13, 2023

More recently, in April 2022, New Mountain Capital announced a majority investment in professional services firms Citrin Cooperman.  These investments marked a notable transformation in the profession, with the realization among private equity firms that investing in large accounting firms can yield great returns.

Technology 59

Technology accounting firms Tax audit 59

ThomsonReuters

MARCH 26, 2024

White Paper Top opportunities for accounting firms Gain valuable insights and best practices from industry experts and successful firms. The post Understanding the IRS energy credit updates appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Transportation 52

Transportation Tax accounting and finance accounting firms 52

ThomsonReuters

JANUARY 24, 2023

B Corp Certification : This is an international certification that verifies companies meet the highest standards of overall social and environmental performance, public transparency, and legal accountability. ESG audit certification not only benefits clients but also represents a significant growth opportunity for firms.

audit 59

audit auditor Tax accounting firms 59

Menzies

JUNE 6, 2022

Menzies LLP - A leading chartered accountancy firm. In addition to this new legislation, a Government white paper entitled ‘Corporate Transparency and Register Reform’ was published earlier this year. What action needs to be taken?

chartered accountant 52

chartered accountant Government Legal accounting firms 52

ThomsonReuters

JUNE 3, 2021

Improving efficiency, driving automation, and streamlining internal processes are essential for tax and accounting firms looking to better meet increased client demands and, ultimately, generate greater profitability. . This ultimately means greater profitability for firms and a win-win scenario for firm leaders. .

Tax 52

Tax accounting firms Account accountant 52

ThomsonReuters

FEBRUARY 9, 2023

As accountants, there’s no way to avoid the hectic nature of tax season. If you’re like most accountants, staffing shortages have you wearing multiple hats, putting you at risk of burnout. Become a tax software expert Nearly all firms use some type of tax and accounting software, but not everyone is an expert in it.

Tax 59

Tax tax return Technology accounting software 59

ThomsonReuters

FEBRUARY 24, 2023

K-1s, however, are quite different and can come with some complexities for tax and accounting firms. How to process Schedule K-1s efficiently As noted earlier, K-1 processing can present several complexities for tax and accounting firms. appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Non-Profits 59

Non-Profits tax return Tax income tax 59

ThomsonReuters

MARCH 15, 2023

Today, a growing number of private equity investors are entering the accounting market as they’ve discovered that investing in accounting firms can yield great returns. That is, if the firm is a good fit and has the right appeal. Why is an accounting firm’s tech stack important to private equity?

Technology 64

Technology accounting firms Account accountant 64

ThomsonReuters

MAY 24, 2023

Faced with increased client expectations and strained bandwidth, today’s accounting firms are in critical need of greater automation and streamlined workflows. Teribery added, “It is pre-built so [firms] don’t need the IT resources.

accounting firms 52

accounting firms Technology Account accountant 52

ThomsonReuters

MARCH 10, 2023

If you’re a leader in a tax and accounting firm, you know the pain that disconnected teams, lack of visibility, and inefficient workflows can bring. You also may have heard of APIs; however, many accountants are unsure of what they are and how they can help simplify workflow and boost profitability. What are APIs?

Technology 59

Technology accounting firms Tax Account 59

Menzies

JANUARY 29, 2023

Menzies LLP - A leading chartered accountancy firm. Companies looking to raise money through an ICO will need to pre-announce that they are planning to have a token sale with a white paper. However there is a lot of work to do before getting to this stage.

Technology 52

Technology chartered accountant accounting and finance Finance 52

ThomsonReuters

APRIL 24, 2024

However, most tax and accounting professionals are unsure of how to effectively harness the power of AI, or even where to start. One important area where tax and accounting industry professionals can use generative AI is data entry automation. It can nurture greater collaboration between clients and accounting firms.

Technology 52

Technology Tax accounting firms financial statements 52

CPA Practice

JUNE 29, 2023

You know, we talked to Nancy to share it from I think, at least least query and about about the state of lease accounting, and how, how lease accounting is now mandatory in the governmental world. And it’s like, oh, really the odd I’m thinking quite a few firms aren’t going to swallow Brian F. So they can’t turn their audit in.

Technology 52

Technology audit general ledger Start-ups 52

ThomsonReuters

OCTOBER 19, 2023

The law was largely ignored by accounting professionals at first. This presents a unique opportunity for accounting firms and tax accounting professionals to enhance their revenue streams by diversifying their service offerings. Who does the Corporate Transparency Act affect?

Non-Profits 111

Non-Profits Tax accounting firms Account 111

ThomsonReuters

JUNE 15, 2023

You work to improve your tax and accounting firm — increase profitability, expand into new areas, and find a better work-life balance. Tax firms are feeling the pressure of changing tax regulations, along with clients who expect greater accuracy and faster responses in the digital age.

Technology 92

Technology tax preparation tax return Tax 92

ThomsonReuters

FEBRUARY 13, 2023

In an era of staffing shortages, accounting firms must increasingly look outside the box to fill gaps in talent. More accurate returns in less time As most accountants know, tax technology can automate manual activities, save time, and improve accuracy. Errors are caught automatically — before it’s too late to fix them.

Technology 59

Technology Non-Profits accounting firms Tax 59

ThomsonReuters

MAY 11, 2023

Small and mid-sized accounting firms are increasingly grappling with the need to do more with less, often putting staff at risk of burnout and weighing down productivity. But what if you could boost your firm’s efficiency and morale at the same time?

Technology 52

Technology payroll tax accounts payable accounting firms 52