Wed.Feb 12, 2025

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Bookkeeping Basics for SaaS Companies: Managing Revenue Recognition

Shay CPA

On the surface, bookkeeping might not seem that complicated. A client or customer pays you money, so you record it on your books on the date it was paid. Right? Wrong. Because of the Financial Accounting Standards Boards (FASBs) Accounting Standards Codification (ASC) 606 , its mandated that companies use whats called revenue recognition. This means only putting something on your books as revenue as youve actually earned the money.

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Turning cash flow into cash now with Paidnice

Xero

“When my debtor workflow is turned off, people stop paying me almost immediately.” This stark observation from Haley Reyners, founder of My Two Cents Accounting Services , highlights a common challenge facing small businesses. For her accounting and advisory firm, which is based in Northland, New Zealand, having over $60,000 tied up in outstanding invoices wasn’t just a number it was a threat to business sustainability. “I’m the same as any other small business own

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Howlers, blunders, or manifest errors?

Menzies

Menzies LLP - A leading chartered accountancy firm. Expert Determinations are a form of Alternative Dispute Resolution, typically used where there are technical issues best resolved by a subject matter expert. Quick and flexible, Expert Determinations are usually final and binding on the parties, except in cases where the Expert Determination is shown to contain manifest error or fraud.

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Free Webinar: Build a Million Dollar Firm With Advisory Services

Going Concern

If you don’t have a lunch date on Valentine’s Day why don’t you spend an hour with The CFO Project for their free masterclass How to Build a Million Dollar Firm Through Advisory Services. You’ve read all the articles talking about firms bringing in bags of cash by developing and expanding CAS practices, now you can learn how to do it for your firm.

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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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Expert Determinations: Howlers, blunders, or manifest errors?

Menzies

Menzies LLP - A leading chartered accountancy firm. Expert Determinations are a form of Alternative Dispute Resolution, typically used where there are technical issues best resolved by a subject matter expert such as an accountant or valuation expert. Quick and flexible, Expert Determinations are usually final and binding on the parties, except in cases where the Expert Determination is shown to contain manifest error or fraud.

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Modernizing Workflow Efficiency with Canopy: Little, Shaneyfelt, Marshall & Co.

Canopy Accounting

Profile Little, Shaneyfelt, Marshall, & Co. (LSM), a trusted accounting firm based in Little Rock, Arkansas, has served clients since its inception in the 1980s. In 2022, Aaron Shaneyfelt and his colleagues took ownership from his father, ushering in a new era for the firm. Building on decades of trusted service, Aaron and his co-owners had a vision to not only preserve LSMs strong reputation but elevate it to meet the challenges of todays fast-paced accounting world.

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PCAOB Pulls Rules on Audit Firm Metrics

CPA Practice

The Public Company Accounting Oversight Board on Feb. 11 filed a notice with the SEC to withdraw its new standard on audit firm reporting of standardized firm and engagement metrics for approvala victory for those that opposed the rules, including many of the largest accounting firms in the U.S. and the AICPA.

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Audit committees eye cybersecurity, risk management

Accounting Today

Cybersecurity ranks among the top priorities for audit committees, enterprise risk management, and finance and internal audit talent, says a new survey.

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FBI Warns About Unpaid Toll Texting Scam

CPA Practice

The Federal Bureau of Investigation has issued a warning about scams involving road toll payments being sent through text messages across the country, including Texas.

Texas 107
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Findings from the 2025 Corporate Tax Department Technology Report: More tech, please

ThomsonReuters

Blog home The Thomson Reuters 2025 Corporate Tax Department Technology Report offers the latest research on how corporate tax departments are incorporating new technologies into their operations, as well as the many challenges tax departments face in adopting new technological systems and processes. Historically, corporate tax functions have been slow to embrace new tax technologies, due primarily to budget constraints, inadequate technical infrastructure, a lack of tech-savvy personnel , and c

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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Mastering Tax Season: 4 Ways to Manage Unprepared or Late Clients

CPA Practice

Make sure to explain how their current pricing tier doesnt include the things they need and how your additional services can help them stay on top of taxes throughout the year.

Tax 98
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Digits launches automated invoicing solution

Accounting Today

Digits announced the release of Digits AI Invoicing, a new product designed specifically for startups which enables users to manage their invoicing workflows visually, with just a few clicks.

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Cybersecurity Remains Top Priority for Audit Committees

CPA Practice

For the fourth straight year, cybersecurity is the No. 1 priority for audit committees at public companies, outside of financial reporting and internal controls, according to survey findings released on Feb. 12 by the Deloitte Center for Board Effectiveness and the Center for Audit Quality.

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Meta's accounting move to boost profit by billions

Accounting Today

Meta Platforms Inc. made a small change to how it depreciates its AI infrastructure that's likely to increase the company's profit by billions this year.

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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Inflation Rose in January, Report Says

CPA Practice

The monthly consumer price index rose in January by the most since August 2023, led by a range of household expenses like groceries and gas, as well as housing costs.

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PCAOB sanctions former Deloitte Colombia partner

Accounting Today

The PCAOB sanctioned Gabriel Jaime Lpez Dez, a former Deloitte Colombia partner, for issuing an audit report before completing all necessary audit procedures.

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Forvis Mazars Launches Transportation Profitability Analysis & Network Management Consulting Service

CPA Practice

Data and insights from the tool, together with the consulting capacity of the team at Forvis Mazars, will provide an Unmatched Client Experience for carriers seeking to improve their bottom line.

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Aprio plans to open law firm with Radix Law in Arizona

Accounting Today

Aprio, a private equity-funded Top 25 Firm based in Atlanta, is joining with Radix Law in Arizona to form Aprio Legal LLC.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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Accounting’s Pricing Conundrum in the Age of Generative AI 

CPA Practice

No one said running a successful accounting practice was easy. Even in the smoothest and most uneventful of times, there are a variety of factors that need to be taken into consideration and successfully managed to ensure profitable operations.

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From intern to CEO

Accounting Today

No matter where you are in your career, you control your own destiny.

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AICPA Thanks Ways and Means Committee for Approving Endorsed Legislation

CPA Practice

The AICPA has long supported the proposals and will continue to work to advance comprehensive proposals that enhance Internal Revenue Service (IRS) operations and improve the taxpayer experience.

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PCAOB withdraws rules on firm and engagement metrics, firm reporting

Accounting Today

The Public Company Accounting Oversight Board has withdrawn the two standards it approved on firm and engagement metrics and firm reporting.

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Live Demo - Supercharge your Month End Close

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

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New Jersey CPA Sentenced in $9M Syndicated Conservation Easement Tax Scheme

CPA Practice

A New Jersey accountant has been sentenced to 24 months in prison for his role in the promotion and sale of abusive syndicated conservation easement tax shelters.

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New tools for QBOA, and other tech stories you may have missed

Accounting Today

New tools in QuickBooks Online Accountant, a million predictions around AI, and other developments in tech from the past month.

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Digits Debuts AI Invoicing Solution for Startups and SMBs

CPA Practice

The AI-powered accounting platform has launched AI Invoicing, a solution that gives founders and small business owners control over both accounts payable and accounts receivable.

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Growing your firm? Let your clients lead the way

Accounting Today

Your clients hold the insight into where you should be investing, shoring up, or expanding offerings.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

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.

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Small Businesses Saw Improved Performance, Says Xero Data

CPA Practice

For the first time since late 2022, sales growth was positive and late payments and time to be paid metrics both had shorter waiting times.

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Ignition names Bec Donnelly as new SVP for People & Culture

Insightful Accountant

Seasoned HR leader Bec Donnelly joins Ignition as company scales for global growth

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Accounting Automation in Practice Management: Revolutionize Your Workflow

Canopy Accounting

If the only technology an accountant needed was a calculator, improving efficiency would just come down to who can type the fastest (without messing up). But, like everything else, todays accounting industry relies on advanced software for managing books, handling invoices, and communicating with clients.

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NetSuite News: Little Words Project Expanding with NetSuite

Insightful Accountant

The original word bracelet brand leverages the power of the suite to centralize data, improve decision making, and increase sales.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

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.