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By David Osborne, Chief Executive Officer, Caseware International. In today’s accounting landscape, accounting firms face myriad challenges. The regulatory environment is constantly evolving, the hybrid workplace model is becoming the norm and talent shortages remain. Additionally, time constraints and data security concerns add to the complexity of accounting processes, creating additional hurdles for firms to navigate.
While the challenges are significant, there are opportunities for startups with strong financial discipline and sufficient capital reserves. The post Scaling in a High-Interest Rate Economy: Challenges and Opportunities appeared first on Burkland.
Firms are using different recruiting practices to attract younger talent, thinking outside the standard talent pool and prioritizing company culture and personal growth opportunities.
By Fady Hawatmeh. The prospect of AI replacing accountants has stirred up some anxiety within the industry. However, it’s important to think of AI as a helpful tool designed to enhance, not replace, the capabilities of humans. Rather than seeing AI as a threat to their careers, accountants should view it as a catalyst that can help them work faster, smarter, and with greater impact.
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
Proposed guidance issued Wednesday by the Treasury Department and the IRS explains how eligible facilities can qualify for “technology-neutral” clean electricity tax credits under the Inflation Reduction Act. The 2022 tax-and-climate law sunsets the existing Production Tax Credit (Section 45 of the tax code) and Investment Tax Credit (Section 48) by limiting their availability to projects beginning construction before 2025.
By Dr. Sangeeta Chhabra Cloud adoption has become the new norm in the modern corporate world. A majority of organizations are looking to migrate to the cloud for obvious perks like scalability, adaptability, data security, and low capital costs. However, challenges arise when an organization just jumps on the bandwagon without a proper strategy. Moving to the cloud shouldn’t be a hasty decision.
As the dust settles on the most intense period of the year for financial professionals, we're taking a moment to celebrate the incredible achievements of our backend systems and the team behind them during the most recent tax season. The last 30 days of the tax season have seen our operations pushed to their limits, but Canopy has not just survived; it has thrived, showcasing the robustness and efficiency of our platform.
Do you need an extra set of hands for a few weeks or months? You may opt for a temporary employee. Temporary employees can cover for employees on leave, help during your busy season, or fill in gaps in the workplace. Hiring temporary employees can help you avoid overhiring.
8 min read May 29th, 2024 Accounting software is integral to every business's operations, management, and financial health. Business owners must select the right accounting software to support their operating strategy, facilitate performance evaluation, and provide invaluable insights that can be used to maximize efficiency and profits. Key Takeaways Cost and Pricing Structure: Desktop accounting software is generally purchased with the initial cost of the software license (in addition to the co
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.
Gen Z accounting interns believe the biggest misconception about their generation is that they don't want to work hard, according to a new KPMG survey.
Can you believe how much the world of accounting has changed? It's like we blinked, and suddenly, everything's gone digital. But you know what? It's a game-changer, and it's upping our financial game. At least, that's what we've experienced at Ignite Spot. Let me take you on a little journey through the virtual landscape and show you why it's the best thing that's happened to our business – and could be for yours, too.
The Financial Accounting Foundation commemorated the 40th anniversary of the creation of the Governmental Accounting Standards Board in its annual report and also referenced the 50th anniversary last year of the Financial Accounting Standards Board.
If any article needs the PwC Chad image, it’s this one As Big 4 firms scramble to be the fastest, trustiest, and billing-est firm in the race to monetize generative AI, PwC announced today it is not only ChatGPT’s biggest enterprise customer, it will be shilling the service to clients. It’s giving Hair Club For Men (I’m really dating myself with that reference aren’t I?).
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
By Richard N. Velotta, Las Vegas Review-Journal (TNS) Color me skeptical, but I’ll believe the recent news about the IRS and U.S. Treasury acting to increase the threshold on reportable slot machine jackpots when I see it. Last week, there was a report that the Internal Revenue Service Advisory Council recommended to IRS Commissioner Danny Werfel that the current amount required to trigger preparation of a W2G form of winnings above $1,200 would be changed to $5,800.
Roveel , the reporting software company based in Norwich (UK), has launched its global integration for Xero, unleashing the power of data held by small and medium businesses (SMEs). Now available for SMEs and accountancy firms via the Xero App Store, the reporting tool builds on the significant amount of data stored in a company’s accounting system and allows in-depth drill-down analysis to allow for smarter decision making.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
China Taiping Insurance Holdings, China Merchants Bank, China Railway Group, China Electronics Huada Technology and People's Insurance Company (Group) of China are among those that changed auditors.
My Memoirs of a CPA book has been published and is available in Kindle and print editions at amazon.com. The book was written so students and those contemplating public accounting as a career or already working in a CPA firm would have an inside look at what CPAs do. However, this book is also valuable for anyone who uses the services of a CPA either for a complicated tax return or for their business, and here is why.
Last week, Bloomberg reported that Citigroup, HSBC, and Barclays were forcing more of their people to return to the office five days a week “as regulatory changes make it trickier for Wall Street to allow working from home.” Said Bloomberg in their story : Citigroup is requiring about 600 US employees previously eligible to work remotely to commute to company offices full-time, the New York-based firm said in a statement Thursday.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
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Discover the future of accounting this 2023 and learn specific tips and strategies on how you can best prepare for it. The post Future of Accounting: The 2024 Annual Guide appeared first on Future Firm.
Zuper, a technology provider for service businesses with field operations, has partnered with Avalara, Inc., a provider of cloud-based tax compliance automation. Avalara offers a comprehensive suite of tax compliance services allowing businesses to easily determine tax obligations, calculate sales tax and assess use tax, manage exempt sales, file and remit returns, and more.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
Discover the drawbacks of pricing high. Learn to balance profitability with manageable work hours and scale your services effectively. The post Pricing High Can Make You Busier appeared first on Future Firm.
Does your agency have an internal service fund (ISF)? If you have centralized management of services like fleet or information technology, you may have one or multiple! But do you know if your ISF is really operating like an ISF? Are you fully recovering the costs of your internal services and using this as a. The post Is your internal service fund (ISF) really operating like one?
Section 174 mandates the capitalization of specified research or experimental expenditures (SRE), which includes a broad range of costs related to development. Listen as Tax Credits & Incentives Advisory Leader Martin Karamon , Director Vivian Kohrs and Senior Manager Bryan Weems discuss why it’s vital to evaluate intercompany intellectual property (IP) agreements and contracts for research and development (R&D) performed on behalf of others overseas.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
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