CPA Practice

JULY 7, 2025

Mary Girsch-Bock AICPA News is a collection of recent news briefs from the American Institute of CPAs and the Chartered Institute of Management Accountants. Mary Girsch-Bock AICPA News is a collection of recent news briefs from the American Institute of CPAs and the Chartered Institute of Management Accountants. from spring 2024.

cpas 85

cpas accounting and finance CPA Technology 85

Going Concern

MARCH 21, 2025

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Talent Navigating the Accounting Pipeline Crisis [ CPA Journal ] Anthony J.

Technology 52

Technology Non-Profits audit CPA 52

Withum

DECEMBER 4, 2024

There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Expansion of small businesses that are able to use the cash (as opposed to accrual) method of tax accounting.

Tax 105

Tax income tax Construction Non-Profits 105

Nancy McClelland, LLC

DECEMBER 18, 2024

It’s not just tax pros that struggle with “busy season”… it’s also bookkeepers and CAS practices that have to tie out the annual financial statements in QBO to effectively hand off the books to tax pros — which y’all know is my passion when teaching and in our ‘Ask a CPA’ subscription.

quickbooks 52

quickbooks Tax bookkeeping Non-Profits 52

Basis 365

FEBRUARY 10, 2025

Keeping your business successful requires well-managed financial records, but taking the time and money to build an accounting team can use up resources you cant spare. If youre finding it difficult to keep up with your bookkeeping but dont want to hire an in-person accounting team, its time to consider alternative solutions!

bookkeeping 52

bookkeeping general ledger Technology accounts payable 52

Going Concern

MAY 29, 2025

Struggling to Find Remote Accounting Talent? If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you’re not aloneand you’re not out of options. Weve Got You Covered.

Real Estate 52

Real Estate Tax accounted Account 52

Going Concern

JANUARY 23, 2025

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!

Real Estate 52

Real Estate accounted Account accountant 52

ThomsonReuters

JULY 14, 2025

These and other tax considerations specific to the oil and gas industry mean that companies involved in those industries must maintain an extraordinarily high level of diligence to avoid potential penalties for non-compliance. Resource rent tax: Taxes “super” profits that exceed a pre-determined level of return on capital investments.

North Carolina 59

North Carolina Non-Profits Montana income tax 59

Accounting Insight

OCTOBER 17, 2024

Balance Sheet Companies are required to prepare a certain number of documents called financial statements. It should be called what it is: a statement of assets, liabilities and equity. But instead accountants decided to put together these two rather bizarre nouns. Their accounts show either a profit or a loss.

financial statements 105

financial statements Non-Profits accounted Account 105

xendoo

NOVEMBER 29, 2021

With little experience in reading financial statements, this request makes you freeze in your tracks, uncertain of how to express the success of your growing business. If this scenario sounds in any way relatable, it’s time to become more familiar with the process of reading financial statements. Cash flow statements.

financial statements 98

financial statements Non-Profits accounting and finance Finance 98

AccountingDepartment

JULY 1, 2021

While non-profit organizations are not concerned about showing a profit for investors, these entities still must report financial activities to board members and local, state, and federal tax agencies.

Non-Profits 52

Non-Profits financial statements Tax accounted 52

SMBAccountant

JUNE 21, 2023

When it comes to financial statements, two key documents play a vital role in providing insights into a company's financial health: the income statement and the balance sheet. While both are important in understanding a company's financial position, they serve different purposes and provide distinct information.

Non-Profits 130

Non-Profits accounting equation financial statements accounts payable 130

Basis 365

SEPTEMBER 5, 2022

Small and medium-sized companies who want to cut overheads without sacrificing efficiency are increasingly choosing outsourcing accounting. Understanding the differences between in-house and outsourced accounting is essential if you are starting a business or just studying accounting. This is rare in business.

accounted 97

accounted Account accountant Non-Profits 97

ThomsonReuters

FEBRUARY 8, 2024

Jump to: What are the main accounting assumptions? Going concern assumption: A closer look How do common accounting assumptions relate to GAAP? Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements.

accounted 96

accounted Account accountant accounting principles 96

CPA Practice

OCTOBER 18, 2024

The Florida Institute of Certified Public Accountants (FICPA) recently announcedJim Gurowka, CAE, as its new Chief Growth Officer (CGO), effective Sept. Gurowka comes to the FICPA after a 19-year tenure as Senior Vice President of the Institute Management Accountants (IMA). Christine has a BBA in Accounting from St.

CPA 110

CPA Non-Profits cpas Washington 110

CPA Practice

MARCH 15, 2023

In the past several decades, few topics have driven as much conversation among accounting professionals and firm leaders as has ongoing private equity investment in firms. It’s definitely not the model of firm management that your mother or father experienced or envisioned, if they were an accounting professional.

accounting firms 132

accounting firms Account accounted accountant 132

inDinero Accounting

OCTOBER 31, 2023

We’ve also provided an example nonprofit statement of financial position to guide you. If your nonprofit needs assistance putting together a financial statement or simply managing funds, indinero’s accounting services team is here to help. What Is the Most Difficult Part of Preparing the Statement?

accrual accounting 105

accrual accounting Non-Profits accounting and finance financial statements 105

Snyder

MAY 27, 2022

When starting a business, all the paperwork and accounting may seem daunting. No matter how large or small your business is, managerial accounting will help you gain profit. This type of accounting aims mainly at forecasting and long-term business decisions and is used to ensure your company’s financial health.

managerial accounting 98

managerial accounting financial accounting accounted Account 98

ThomsonReuters

AUGUST 2, 2022

With The Great Resignation accelerating staffing challenges for accounting firms of all sizes, it might be time to look for a non-traditional new hire: technology. Find your flow with accounting solutions such as UltraTax CS and a straightforward approach to research with Checkpoint Edge.

Technology 98

Technology accounting firms Account accounted 98

ThomsonReuters

NOVEMBER 8, 2022

How has technology impacted accounting? From increasing accuracy to optimizing tax workflow to freeing up time for more value-added activities, technology has transformed the accounting industry—for the better. Accounting firm technology trends. So how does automation work at an accounting firm? Automation.

Technology 98

Technology accounted Account accountant 98

inDinero Accounting

JANUARY 22, 2024

Terms like “deferred revenue” can confuse non-accountants, but the concept is easy enough. Deferred revenue refers to when customers pay upfront for products or services they will receive later while your accountant recognizes that income over time rather than all at once. Why Use Deferred Revenue Reporting Over Cash Accounting?

accounting principles 99

accounting principles accrual accounting Tax accounted 99

Going Concern

JUNE 29, 2023

Both KPMG and PwC have been fined by the Financial Reporting Council (FRC) in relation to the statutory audits of the financial statements of Eddie Stobart Logistics plc, a shipping and logistics company based in Warrington, UK. And here’s the pound of flesh: Against KPMG: A financial sanction of £1.35

audit 98

audit Non-Profits financial statements auditor 98

Ronika Khanna CPA,CA

MAY 5, 2024

Accounting software has come a long way in the past few years. Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax.

income tax 98

income tax accounted Account accountant 98

CPA Practice

SEPTEMBER 17, 2024

Intuit has launched Intuit Enterprise Suite , a configurable suite of integrated financial products designed to seamlessly scale and enhance productivity and profitability for businesses as they grow. Intuit Enterprise Suite is now available in the U.S. to multi-entity, service, and project-based businesses.

Technology 105

Technology Non-Profits quickbooks payroll 105

CPA Practice

OCTOBER 5, 2023

Jessica, an accountant, sits across from her long-term client, Mrs. Jackson. As we dive deeper, we’ll unravel the psychology behind mindful communication, explore why accountants specifically should be all ears, and shed light on the tools and strategies to seamlessly integrate it into everyday client interactions. Strive for clarity.

accounted 97

accounted Account accountant Non-Profits 97

Withum

MARCH 1, 2024

In November 2023, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) to improve disclosures related to reportable segments. For the purposes of this ASU, not-for-profit entities are excluded.

Non-Profits 80

Non-Profits financial statements accounting standards financial accounting 80

MyIRSRelief

MARCH 1, 2022

Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Top 5 Reasons to hire a tax/accounting firm to service your businesses bookkeeping needs. The best way to do that is to have your financial statements in order.

bookkeeping services 100

bookkeeping services bookkeeping Real Estate Non-Profits 100

inDinero Accounting

JUNE 24, 2021

At inDinero, we believe accounting supports business. If a business owner doesn’t understand an accounting term , we don’t use another accounting term to explain it. We specialize in accountants who speak business to business owners and CEOs. Sometimes there’s just no avoiding accounting speak.

Non-Profits 71

Non-Profits financial statements accounts payable accounting and finance 71

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. Respondents said they would prefer to average 40.6

accounted 98

accounted Account accountant accounting firms 98

xendoo

AUGUST 9, 2021

Accurate information from bookkeeping is not only necessary to know where your business stands financially at a given moment, but it is also essential for strategy planning, managing cash flow, and predicting profitability. . Financial statements . Why Use an Online Accounting Service? Corporate tax preparation .

bookkeeping 98

bookkeeping bookkeeping services accounted Account 98

Withum

SEPTEMBER 16, 2024

A common challenge when completing a business valuation for SBA 7(a) purposes is how much reliance should be given to the seller’s interim financial statements. Generally, an SBA lender will provide an appraiser with three years of business tax returns and interim financial statements as of the current calendar year.

Non-Profits 75

Non-Profits tax return financial statements business tax 75

Basis 365

FEBRUARY 27, 2023

Difficult times are a catalyst for business owners to learn more about their business’s financial position and look for ways to make improvements. Reading a set of financial statements is not enough for most people to understand what actions they need to take and “selling more” isn’t a default fix for every financial woe.

Non-Profits 96

Non-Profits accounting system financial statements Start-ups 96

CPA Practice

AUGUST 17, 2023

Over the last year, the hottest topic of discussion among accounting professionals has been about how artificial intelligence will shape professional firms. For a profession as risk averse as accounting, what can we gather from this? AI has potential to save accounting.

accounting firms 98

accounting firms Account accounted accountant 98

Withum

MARCH 7, 2022

The audit requirement is different for non-profit entities (referred to as non-Federal entities) and for-profit entities. SBA will utilize an Audit Reporting Action Item to collect audit report packages from non-profit and for-profit entities. Non-profit Entities. For-profit Entities.

audit 64

audit Non-Profits Entertainment financial statements 64

Withum

JULY 28, 2022

The audit requirement is different for non-profit entities (referred to as non-Federal entities within 2 CFR 200) and for-profit entities. SBA will utilize an Audit Reporting Action Item to collect audit report packages from non-Federal and for-profit entities. Non-profit Entities.

audit 64

audit Non-Profits Entertainment financial statements 64

CPA Practice

SEPTEMBER 1, 2023

While it is exciting that organizations are stepping up to pursue responsible practices en masse , the reality is that the onus to comply with related reporting requirements is on accounting and finance professionals. Exacerbated by new lease accounting standards, finance professionals now have substantial regulatory obligations to maintain.

accounting and finance 98

accounting and finance Non-Profits accounting standards Finance 98

inDinero Accounting

MAY 1, 2024

So, are you ready to take the next step towards financial clarity and prosperity? No matter how big or small your business is, whether you do your own bookkeeping or you have an entire accounting team, there are three financial reports that all entrepreneurs must know like the back of their hands.

Non-Profits 106

Non-Profits accounting and finance accrual accounting Account 106