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The Most Powerful Women in Accounting Awards , now in their 12th year, were created by CPA Practice Advisor to promote and support the success of women leaders as part of its broader mission of sustaining the profession. We’re excited to open the nominations for the 2025 Most Powerful Women in Accounting.”
When it comes to accounting methods, businesses primarily choose between two approaches: cash basis accounting and accrual basis accounting. Understanding the key differences between cash vs. accrual accounting is essential as this decision impacts financial reporting, cash flow management and long-term planning.
The accounting landscape continues to evolve at a rapid pace with emerging technologies, shifting workforce dynamics, and new operational demandsall of which impact the way accounting teams operate, and businesses achieve growth goals. In fact, accounting and finance is predicted to be one of the top areas impacted by AI in 2025.
Accounting is often one of the last areas a company invests in because it’s traditionally seen as a cost center rather than a revenue generator. This tends to be the case in departments like sales or marketing, but not in areas like accounting, HR, or operations. By Ting Song. So, what’s the solution?
Technology is rapidly changing the way accountants perform and manage month-end activities. Watch SkyStem’s sneak peek into their award-winning account reconciliation software – ART. Spreadsheets, emails, and shared drives no longer need to slow you down.
accountants who advise small and midsized businesses are feeling less confident this year, according to a new survey. Between January and April, the net sentiment among accountants swung from a positive 19% to a negative 39%. All rights reserved. EDT 3 Min Read Facebook Twitter LinkedIn Email U.S.
We track the top products in every category and discuss them in our weekly podcasts in The Accounting Technology Lab. In the coming months, my K2 organization and this column will continue to cover useful AI tools for Client Accounting Services (CAS), tax, and audit. Trullion could be a replacement for DataSnipper.
EDT 5 Min Read Facebook Twitter LinkedIn Email Over the last several months, Ive been partnering with Intuit QuickBooks, Brittany Brown with Ledger Gurus and Utah Valley University professor David Waite to deliver a hands-on accounting curriculum that teaches students the skills they need to succeed in the accounting profession.
EDT 3 Min Read Facebook Twitter LinkedIn Email The accountant the world urgently needs has evolved far beyond the traditional role we recognized just a few years ago. Yet, in many areas, accounting education stubbornly clings to outdated, overly technical models that fail to connect with the actual demands of the market.
Discover 10 game-changing reasons why accounting teams are ditching manual processes and embracing automation. Month-end doesn’t have to mean long nights and last-minute scrambles. It’s time to trade chaos for peace—and finally make the close feel… well, closed.
The alarm bells in accounting have been ringing for years: fewer people want to join – or stay – in the profession. The American Institute of Certified Public Accountants (AICPA) said in its “2023 Trends” report that the percentage of accounting graduates fell 7.8% Accounting roles must evolve to allow for this shift.
State and local governments are being squeezed by a shortage of accounting professionals, making it difficult at times to find staff CPAs who can prepare critical financial information or outside firms to conduct audits. But accountants who do government work face unique challenges that require more specialized solutions.
To be fair, it wasn’t until the National Pipeline Advisory Group released their mildly anticipated pipeline report over the summer that The Powers That Be officially acknowledged this as one of the leading factors in declining accounting enrollments. ” We had almost 200 write-ins here so I won’t include them all.
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.
SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
Accounts receivable (A/R) management is a key area that requires attention to assess financial strategies for the new fiscal year, and effective A/R practices—such as collecting overdue payments, refining invoicing processes, and using automation—can strengthen clients’ year-end financial position. By Jana Rzezniczek.
Prepare for tax season with these essential resources for accountants appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Tax season resource hub Our tax season resource hub is your one-stop shop for expert insights, practical tips, and timely updates on the topics that matter most to you.
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. We’d like to talk about another AI based tax research tool called Tax GPT.
The requirements for small businesses and their accountants are due to be phased in over 2026 and 2027. What this means for accountantsAccountants can play a crucial role in supporting businesses as they comply with the new climate reporting requirements. In the end, it’s just maths. There’s something for everyone.
Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process. Field of Study: Accounting. Recommended CPE: 1 CPE. Program Cost: $0.
Whether you’re a startup or an established company, outsourced accounting can provide the financial expertise you need to grow your business. Many businesses of all sizes have been turning to outsourced accounting services as an essential part of their competitive strategy. What Are Outsourced Accounting Services?
A new report reveals a dramatic shift in the expectations that businesses and individuals who use accountants have of those professionals, with findings that highlight the need for seamless technology, proactive communication, and personalized service. taxpayers to reveal what they truly want from their accountants.
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. 57% of accounting firms plan to increase fees across all services in 2025. 57% of accounting firms plan to increase fees across all services in 2025.
For small and midsize accounting firms, these regulations demand a strategic approach to compliance and leveraging an automated compliance workflow can be a game-changer when it comes to successfully adapting to these changes and positioning your firm for the future.
Elevate your accounting efficiency with ART’s game-changing capabilities! ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.
Randy Johnston 00:04 Welcome to the accounting Technology Lab. Now there’s about 48 portals that are sold into the accounting profession in the US market. So if you’re doing tax and client accounting services, or CAS and audit and others, you should be able to do that through a single portal, and hub sync gets that done.
A new report from practice management software provider Ignition says rising business costs are driving fee increases at accounting firms, with 57% planning to raise fees across all services next year. 85% plan to increase fees for bookkeeping and accounting services. The 2024 U.S. 90% plan to increase fees for individual tax returns.
For tax and accounting professionals, the GENIUS Act is more than just a policy milestone—it’s a signal that stablecoins are entering the mainstream financial system. Understanding how this law affects your clients’ reporting obligations, accounting treatment, and compliance posture is now essential. Jump to ↓ What is a stablecoin?
Digits Accounting Agents embed AI agents to run entire accounting workflows from start to finish, pausing only when human judgment is necessary or desired, for firms on its Autonomous General Ledger.
Every company, no matter its size, must address its finance and accounting requirements. This guide looks at the finance function for companies at different stages, and the types of issues and challenges that they face when they fail to build agile, scalable accounting and finance operations from the start.
a provider of tax compliance automation software for businesses of all sizes, has expanded the capabilities of AvaTax with AvaTax for Accounts Payable. AvaTax for Accounts Payable helps companies avoid these risks. Avalara, Inc. ,
As we move into 2025, accounting firms face a significant challenge: a growing talent gap caused by many experienced CPAs and professionals retiring. The accounting profession’s yawning talent gap has long been a thorn in the industry’s side.
Application of predictive analytics in accounting : Firms use predictive analytics for cash flow estimates, tax impact forecasts, fraud detection, strategic decisions, and more. For today’s accounting firms, the question is how can they benefit and leverage their business client s ’ data to deliver the strategic guidance that businesses need?
Jump to Overview of the recent halting Implications for tax and accounting professionals What’s next? However, a recent court ruling has temporarily halted these reporting requirements, creating uncertainty for tax and accounting professionals who must guide their clients through this evolving regulatory landscape.
Speaker: David Bergstein, Chief Innovation Officer at Bergstein CPA
In the accounting profession, the post-COVID business model is surely on everyone's minds. Join David Bergstein, Chief Innovation Officer at Bergstein CPA, as he shares insight on the accounting landscape, new trends, and practical tips for reevaluating your company's positionality.
Jason Bramwell The Institute of Management Accountants recently announced that it was expanding its competency framework for accounting and finance professionals. Jason Bramwell The Institute of Management Accountants recently announced that it was expanding its competency framework for accounting and finance professionals.
Financial Cents, a provider of practice management solutions for accounting firms, has launched a new Community-Driven Template Library. In this collaborative space, accounting professionals can share, discover, and adopt workflow templates designed to increase efficiency and simplify firm operations.
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.
Accountants are central to bridging this gap. Without active accountant involvement, organizations risk over-relying on passive technological defenses. Accountants who grasp these behavioral dynamics are better equipped to lead businesses through the emotional and operational challenges of building stronger defenses.
Speaker: Javier Goldin, Managing Partner at Goldin Group LLC
The accounting profession has been moving from transactional to advisory work. In this webinar you will learn: How important are face to face relationships for an accounting firm? Advisory work is based on relationships and an ongoing dialogue. The pandemic has forced many firms into a remote environment.
EDT 6 Min Read Facebook Twitter LinkedIn Email Accountants are facing increasing demands for precision, speed and data protection. Accountants manage a high volume of sensitive information daily, covering everything from client tax details and payroll reports to audit documentation and financial disclosures. All rights reserved.
While I have you, allow me to ask you to take our 2025 Predictions for the Accounting Profession survey — it’s quick, simple, and we don’t want your email. FT : Accounting firms say the metrics tell investors little about whether an audit is being done well and are likely to be misunderstood without additional context.
Jump to Top 5 priorities for tax and accounting professionals The impact of AI in tax and accounting firms Navigating the future of tax and accounting The landscape of the tax and accounting industry is evolving rapidly, driven by technological advancements and a growing demand for value-added services.
John Scott, Virtual CFO and Partner at Anders CPAs + Advisors, joins Hannah and Joey to discuss strategies for young accounting professionals to establish themselves as subject matter experts within their firms. Listen and Learn Journey of young accounting professionals in establishing their careers.
Speaker: Dixie McCurley, Principal, Digital Advisory at Cherry Bekaert LLP
In this post-COVID world, clients are reevaluating their expectations as far as an in-person relationship with their CPAs and accounting professionals. What a supplemental "gig economy" looks like for an accounting firm. Why outsourcing can help yield growth by augmenting your current model.
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