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What you know about the future can help you make better decisions for your business today. Developing forecasting and projections is a crucial aspect of strategic planning that can improve business management and help create a healthier, sustainable business. A three-way forecast, also known as a three-statement model, is a financial model that combines vital financial statements – profit and loss, balance sheet, and cash flow – into a consolidated forecast.
Jump to ↓ ESG and supply chains What is ESG due diligence? Understanding ESG risks in the supply chain ESG due diligence checklist: What to look for when assessing a vendor How to communicate ESG expectations to vendors Staying ahead of ESG requirements The need for large corporations to conduct environmental, social, and governance (ESG) due diligence in their supply chains is rapidly becoming a mandatory piece of the corporate compliance puzzle.
The Indiana Society of CPAs (INCPAS) and NABA Inc. (formerly the National Association of Black Accountants) announced on Nov. 20 the launch of ConnectIN, an initiative designed to boost talent pipelines, workforce development, and entrepreneurship in fields such as accounting, finance, business, AI, and emerging technologies. ConnectIN aims to address talent shortages by “creating bold, practical solutions to build a more robust and inclusive workforce while fostering innovation and economic gro
Whether you’re a startup or an established company, outsourced accounting can provide the financial expertise you need to grow your business. Many businesses of all sizes have been turning to outsourced accounting services as an essential part of their competitive strategy. However, making sure you have the right accounting service provider is essential.
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
The Financial Accounting Standards Board (FASB) has issued the report on Post-Implementation Review: Revenue from Contracts with Customers (Topic 606). The Post-Implementation Review (PIR) process is an important quality control mechanism built into the FASB’s standard-setting process to evaluate whether a standard is achieving its objective by providing investors and other financial statement users with relevant information in ways that justify the cost of providing it.
Collaboration accelerates audit process enhancements and boosts efficiency for firms Caseware , a global leader in cloud and AI-enabled audit, financial reporting, and data analytics solutions, has announced a strategic partnership with Validis, a leading accounting data extraction and standardization tool. This collaboration will provide audit firms with powerful data ingestion tools that deliver audit-ready data from diverse sources; clean and readily available for analysis.
If you’re a business owner or a tax professional who represents one, the IRS wants to hear from you. The agency said in an email on Nov. 22 that it’s conducting virtual focus groups starting in December to gather feedback on the business tax account (BTA) online self-service tool. “We are looking for comments and suggestions from stakeholders who will use the BTA online platform,” the IRS said.
If you’re a business owner or a tax professional who represents one, the IRS wants to hear from you. The agency said in an email on Nov. 22 that it’s conducting virtual focus groups starting in December to gather feedback on the business tax account (BTA) online self-service tool. “We are looking for comments and suggestions from stakeholders who will use the BTA online platform,” the IRS said.
The New Jersey Society of Certified Public Accountants (NJCPA) has awarded 10 of its members $750 each towards their CPA Exam fee costs. The lottery winners, which are Affiliate or Student members of the NJCPA, were selected at random out of more than 60 entries. Established in 2019, the NJCPA’s CPA Exam Fee lottery was designed to partially offset the cost of preparing for and taking the CPA Exam, which can exceed more than $2,500 considering enrollment fees, review courses, study guides and ot
Morning, all. And an early Happy Thanksgiving to our fellow Americans! Thanks Kuya Mike for alerting us to this situation first thing in the morning in such an entertaining way. HAHAHAHAHAHAHAHAHAHAH @KPMG @KPMG_US YALL SUCK HAHAHAHAHAHAHAHAHAHAH @going_concern [link] — Kuya Mike UNHINGED (@KuyaMikeDG) November 25, 2024 What happened, according to NYT : Macy’s said on Monday that an employee had misstated up to $154 million in delivery expenses over the past few years, forcing the retailer
The Indiana Society of CPAs (INCPAS) and NABA, Inc. (formerly the National Association of Black Accountants) announce the launch of ConnectIN, a collaborative initiative designed to strengthen talent pipelines, workforce development, and entrepreneurship in fields such as accounting, finance, business, AI, and emerging technologies. This partnership aims to address critical talent shortages by creating bold, practical solutions to build a more robust and inclusive workforce while fostering innov
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.
By Kelly Yamanouchi The Atlanta Journal-Constitution (TNS) UPS has agreed to pay $45 million to settle a complaint with the U.S. Securities and Exchange Commission, which alleges the Sandy Springs-based shipper improperly valued one of its businesses. The SEC alleges UPS misrepresented its earnings because of improper valuation of its UPS Freight unit, which it agreed to sell in 2021.
Developing an AI system can carry a hefty price tag that includes not just the coding of the system itself but secondary costs like labor, training and data fees.
Practice management software provider Financial Cents has introduced a new billing feature, which enables accounting firms to bill their clients on time, follow up on invoices automatically, get paid faster, and improve their accounts receivable turnover. Key features of the billing feature include: Ability to create one-off and recurring invoices: The billing feature lets you create invoices for your one-off projects, but that’s only one aspect.
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.
On December 18-19, 2024, CPA Practice Advisor is hosting its annual Ensuring Success conference, an online CPE event where professionals can earn up to 14 hours of free CPE credit, with 7 one-hour sessions each day. There is no cost to users to register, attend, and earn CPE credit, and they can choose the ones they want, or can stay for all of the sessions.
An employee "intentionally" made erroneous accounting accrual entries to hide about $132 million to $154 million of cumulative delivery expenses stretching over multiple years.
The Board of Trustees of the Financial Accounting Foundation (FAF) has announced the appointment of Robert W. Scott to a five-year term on the Governmental Accounting Standards Board (GASB). Scott currently serves as the director of finance and administration for the city of Brookfield, Wisconsin. His term begins July 1, 2025, and extends through June 30, 2030.
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.
The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) that, for public business entities that do not have an annual reporting period that ends on December 31, clarifies the interim effective date of Accounting Standards Update No. 2024-03 , Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.
The Governmental Accounting Standards Board issued an exposure draft on how to account for transactions that occur after the date of the financial statements.
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.
As tax season approaches, tax practices face increasing pressure to optimize operations while maintaining service quality. Forward-thinking managers and owners should focus on key efficiency drivers.
We strive to provide you with key information about how the ProAdvisor Awards process works and what it takes to reach your goal of 'making' the list, or 'earning' a categorical award' or being 'recognized' as ProAdvisor of the Year.
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.
How would you know if your company was being ripped off by a dishonest employee? Most companies miss all of the warning signs that could help stop a fraud early. Studies suggest that the average fraud scheme within a company lasts 18 months. That’s a year-and-a-half that one or more employees are stealing from the [.
Menzies LLP - A leading chartered accountancy firm. FAQs Business and Agricultural Property Relief Changes On 30 October, we saw perhaps the most hyped budget of a decade (or so) in terms of the significance of the changes made, particularly in the realm of Inheritance Tax (IHT). Pensions may have been hit, with pension pots becoming liable to IHT from April 2027.
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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