Wed.Jun 12, 2024

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Mastering Spend Management: Proven Tips and Strategies for Effective Cost Control

AccountingDepartment

Every business faces a variety of major accounting and spending-related challenges. Chief among them — how can a business keep its spending to a minimum while still ensuring that they invest in growth areas and achieve its business goals?

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Founder Files: Starting a firm by accident

Accounting Today

Keila Hill-Trawick founded her firm, Little Fish Accounting, in 2018 after she started helping her friends with their taxes as a side hustle.

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Trending Sources

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Federal Income Taxes Are Set To Skyrocket

Withum

S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. With the sunsetting of the 199A deduction and an increase in individual federal income tax rates scheduled to occur as of December 31, 2025, the effective tax rate for pass-through entity owners will jump from 30% to 39.6%.

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Lessons in growth

Accounting Today

Strategies, tactics and best practices from Accounting Today's Firm Growth Forum.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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CFOs Don’t Really Care About Technical Skills When It Comes to Who’s Replacing Them

Going Concern

Deloitte’s CFO Signals Survey 2Q 2024 is out and we were going to focus on how CFOs aren’t feeling very risky at the moment — only a little more than a quarter of them feel now is a good time to take risks — but instead we’re going to talk about succession matters because that’s probably more relevant to readers of Going Concern who aspire to one day fill their shoes.

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Nomination Period Opens for CPA Practice Advisor’s 2024 Tax & Accounting Technology Innovation Awards

CPA Practice

The nomination period has opened for CPA Practice Advisor’ s Tax & Accounting Technology Innovation Awards. The awards honor new technologies that help accounting firms and their small business clients operate more efficiently and profitably through improved workflow, increased accessibility, or enhanced collaboration. Now in their 21st year, the Innovation Awards highlight technologies that are shaping the profession and small businesses through increased collaboration and productivity.

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FTC’s Noncompete Ban Leaves Most Small Businesses Unfazed

CPA Practice

By Sarah Lynch, Inc. (TNS) Noncompete agreements have a long history in the U.S.—the Federal Trade Commission’s final rule in April banning these clauses could shake up practices at numerous companies. But most small business leaders believe they are in the clear. Just 21 percent of small businesses think they will be impacted by the noncompete ban, according to a new survey of almost 500 small business leaders from the Wall Street Journal and executive coaching organization Vistage.

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How GenAI-powered Just Ask Xero will reimagine accounting

Xero

It was so exciting to demonstrate Just Ask Xero (JAX) live in front of an enthusiastic crowd of accountants and bookkeepers at Xerocon London today. We previewed this innovative new product at our Investor Day earlier this year, and we’re really proud to be able to show a live demo only a few short months later. JAX, your smart business companion, available in beta in August this year, will help you and your clients run your businesses more efficiently.

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Breaking the Cycle: Groundhog Day On Repeat

CPA Practice

Picture this: every morning, you wake up to the same song on the radio—“I Got You Babe” by Sonny and Cher. No, you’re not dreaming. You’re stuck in your own personal “Groundhog Day”. Instead of the song playing on repeat it is April 15 th , back again. But don’t worry; we’re here to help you escape the loop and avoid spending the next 12,000 days in a time warp.

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EY plans $1B investment to entice young accountants

Accounting Today

Ernst & Young's U.S. firm intends to invest $1 billion over the next three years in talent and technology to improve the attractiveness of the accounting profession.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

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.

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Webinar: Tax Firm Innovation: Assessing and Enhancing Your Current Processes

CPA Practice

This webinar will be held on Tuesday, July 9, 2024 at 1:00pm ET Sponsor: SafeSend Duration: 1 Hour Register Now With so many new features, automation technologies and firm modernizations coming out in 2024, Tax & Accounting professionals have a lot to keep up with. Join SafeSend for an informative webinar where we press pause on all these notifications and break it down.

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How does productivity in your industry or region stack-up?

Xero

Earlier this year, we shared that we’d be releasing the second part of our Xero Small Business Insights (XSBI) productivity report series. Our latest report, Small business productivity: industry and regional trends , builds on the first report released in April. It takes a deep deep dive into labour productivity at the industry and regional level across Australia, New Zealand, and the UK.

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Pathways to Growth: Always be growing!

Accounting Today

Accounting firms can't afford to take their eyes off the future.

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Microsoft 365 Home Vs Microsoft 365 Business: Which One Is Better?  

Ace Cloud Hosting

Microsoft 365 is a set of apps and services used by over a million businesses worldwide. It is a cloud-based solution with multiple features that provide a secure and affordable.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

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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SEC charges AI-recruitment startup founder with fraud

Accounting Today

Ilit Raz, CEO and founder of now-shuttered Joonko, was charged with defrauding investors of at least $21 million by making false and misleading statements about the company.

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EY to Invest $1 Billion in Effort to Attract New Accountants

CPA Practice

EY US announced plans on June 12 to invest $1 billion over three years in talent and technology as a way to improve the attractiveness of the profession to young accountants. The Big Four firm said the investment includes a boost in compensation for entry-level accountants, artificial intelligence (AI)-enabled audit and tax platforms, a new “360 Careers” experience, outreach and support for college students, and enhanced well-being benefits.

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Ohio train victim payments are tax-free

Accounting Today

The Internal Revenue Service has determined that the Feb. 3, 2023, derailment qualifies as "an event of a catastrophic nature.

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BDO Survey: Election Year Fosters Concerns for Tax Leaders

CPA Practice

While more strategic tax leaders are most concerned that the 2024 election will result in changes to certain Inflation Reduction Act renewable energy credits, tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey from top six accounting firm BDO USA. BDO’s 2024 Tax Strategist Survey, which was released on June 10, shows that fewer tax leaders are operating at a highly strategic level, compared to last year’s study.

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8 Pillars of Leadership Development

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.

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CIMA names next president

Accounting Today

In addition to leading the Chartered Institute of Management Accountants, Simon Bittlestone will also serve as chair of the Association of International Certified Professional Accountants.

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How To Achieve Success Using Artificial Intelligence and Copilot for Microsoft 365

Cherry Bekaert

Across the globe, organizations are trying to determine how they can use artificial intelligence (AI) to optimize growth and streamline processes. Some organizations are ahead of their competition when it comes to using AI in their operations. The organizations that are maximizing their use of AI followed certain steps to achieve success. They didn’t just flip the switch and start realizing beneficial results.

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Charity CEO accused of embezzling funds to dine at Per Se, Masa

Accounting Today

Keith Taylor is charged with embezzling about $2.5 million intended to help working families, allegedly spending it on rent for a luxury Manhattan high rise, and meals at top restaurants and steakhouses.

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Vertex Acquires Artificial Intelligence Sales Tax Capabilities from Ryan, LLC

CPA Practice

The global tax technology provider Vertex has acquired the tax-specific AI capabilities from Ryan, LLC, a tax services and software firm, The AI functions are designed to more effectively manage the complexity of transaction tax mapping. Financial terms of the acquisition have not been disclosed. The categorization of products for taxability is a manual and time-consuming process that is critical for achieving enhanced tax accuracy, especially for high-volume businesses that must manage indirect

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

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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EY's UK boss to step down as firm hunts for successor

Accounting Today

The Big Four audit firm is planning on splitting up his role, according to reports.

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KPMG Collaborates with Databricks for Audit AI

CPA Practice

KPMG LLP’s Audit practice is embedding the Databricks Data Intelligence Platform within KPMG Clara, its global smart audit platform that brings together data and analytics, artificial intelligence and automation, collaboration capabilities and audit workflow, to deliver a better audit experience. By leveraging Databricks technology, KPMG auditors can analyze billions of financial transactions across thousands of audits, driving enhanced audit quality and deeper insights into audit-related risks

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Boomer's Blueprint: Data management trends in CPA firms

Accounting Today

Cybercriminals are constantly devising new ways to infiltrate your systems, putting your client's confidential information at risk.

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Is In-Person Better Than Remote?

Ryan Lazanis

I'm a strong advocate of remote work but in-person shouldn't be overlooked. Find out the benefits and drawbacks of each approach. The post Is In-Person Better Than Remote? appeared first on Future Firm.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

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Exploring the complexities of accounts management and financial reporting

Reckon

Guest Post by Imed Bouchrika, Computer Science professor from the University of Southampton, UK. Imagine starting your own business and having your own products or services, marketing strategy, and sales team in place. You think everything is good to go. Unfortunately, there’s something very essential you might have missed: an accounts management and financial reporting system.

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BlueFaucet App Focuses on Small Business Management

CPA Practice

BlueFaucet has announced the rollout of its new app, which is designed to transform operations for businesses with fewer than five employees by organizing and managing daily tasks and client interaction with one or two clicks. Supporting small business is top of mind for BlueFaucet as it partners with personal-related, house-related, and restaurant merchants.

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Power Up Your Retirement Savings: How Accountants Can Help Clients Leverage 401(k) Plans

Insightful Accountant

In today's competitive environment, accountants are constantly seeking ways to add value for their clients. One powerful tool often overlooked is the 401(k) plan. Read more about it!

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Valid8 Names Todd Ludwig as EVP of Sales

CPA Practice

Valid8 Financial, a provider of verified financial intelligence (VFI), has named Todd Ludwig as executive vice president for sales. Ludwig will lead Valid8’s sales strategy and execution, focusing on expanding the company’s customer base and driving revenue growth. Ludwig is the company’s most recent leadership addition following Valid8’s $8.5 million Series A funding round.

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.