article thumbnail

Citing Rising Costs, Accounting Firms Plan to Increase Fees in 2025

Going Concern

By embracing fixed-fee and value-based pricing, firms are positioning themselves to cover rising costs and enhance their client relationships, offering the clarity and value that build long-term trust. It sure took them long enough to get the memo.

article thumbnail

FASB Tackles Plans to Update Software Cost Accounting Guidance

CPA Practice

The FASB encourages stakeholders to review and provide comments on the proposed ASU by Jan. 27, 2025.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

IMA Expands Its Management Accounting Competency Framework

CPA Practice

The IMA Management Accounting Competency Framework outlines the skills required by the most common accounting and finance roles , such as CFO, controller, treasurer, financial analyst, director of cost accounting, senior accountants, and staff accountant.

article thumbnail

Does My Accounting Software Meet DCAA Compliance?

Accounting Seed

Instead, DCAA audits check if your organization meets: Federal Acquisition Regulation (FAR) Cost Accounting Standards (CAS) And other government rules. You must verify your financial management meets DCAA standards regarding financial data security and accountability.

article thumbnail

A Trump Tariff News and Information Roundup Without the Social Media Hot Takes

Going Concern

PwC put out a PDF in March: Accounting implications of tariffs.

article thumbnail

Friday Footnotes: Modernizing CPA Requirements in Pennsylvania; Master’s Degrees Are Hot Again; Don’t Dog the PCAOB | 5.9.25

Going Concern

The bill will modernize the licensure process in Pennsylvania, which Hutchinson and Pisciottano say will address the evolving needs of the accounting profession. FASB to issue final ASU on software cost accounting [ KPMG ] FASB completes redeliberations on software cost accounting changes and directs staff to draft final ASU.

article thumbnail

The Role Of Cost Accounting In Maximizing Profitability

GrowthForceBlog

Key Takeaways The Benefits of Cost Accounting: The primary benefits of cost accounting include maximized profits, reduced costs, optimized pricing, stronger profit margins, revenue generation. Understanding the Cost Accounting Methods: A variety of different methods exist within the cost accounting principles.