Mon.Mar 10, 2025

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Art of Accounting: 5 reasons for failing to grow and how to change them

Accounting Today

Part of growing is for your staff to also grow. That growth comes when they are empowered to take charge, supervise and make decisions.

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Single SCN Can be Issued for Multiple FYs. Having a Common Adjudication Period

VJM Global

Held by Honble High Court of Kerala In the matter of Joint Commissioner (Intelligence and Enforcement) vs. M/s Lakshmi Mobile Accessories (W.A.NO.258 OF 2025) The Assessee received consolidated Show Cause Notice under Section 74 of CGST Act for FY 2017-18 to 2023-24. The Assessee challenged such SCN in the writ petitioner wherein it was held that the department is required to issue separate SCN for every assessment year.

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Adapting to change: ensuring indirect tax data quality

ThomsonReuters

Blog home Ronan Le Gall , along with his colleagues Tim Carpenter , partner and principal at EY who leads the indirect tax technology practice for the Americas , and Vanessa Grazziotin Dexheimer , Senior Manager at EY in indirect tax and global VAT were discussing the power of clean data as an end-to-end solution for indirect direct tax processes at the Thomson Reuters Synergy Conference.

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KPMG to Merge With KPMG, KPMG, KPMG, KPMG, KPMG, KPMG…

Going Concern

KPMG thinks it’ll save money, open up new opportunities, and be better equipped to make widespread technology investments by consolidating local firms in its international network. In May of 2024, KPMG announced that KPMGs UK and Switzerland would merge to form a $4.4 billion MechaKPMG. Said KPMG UK chief executive Jon Holt at the time, “This marks a historic moment for both firms.

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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You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes?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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Tax Avoidance vs. Tax Evasion: How to Evaluate the Legitimacy of a Tax Strategy

CTP

Have you ever had a client bring you a tax strategy that sounded too good to be true? Even if a tax savings idea is setting off alarm bells for you, you may not be sure how to refute it when your client is the one bringing it up with enthusiasm. Of course, in an ideal scenario, you would be ahead of the game and hearing about common tax scams before your clients, so you can preemptively warn them not to heed these get-rich-quick schemes of the tax world.

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JAX expands beta access and introduces new features to save you time and effort

Xero

A year ago, we shared our vision to reimagine accounting using AI and mobile , recognizing the transformative potential for small businesses and the industry. As part of delivering on that vision, we launched Just Ask Xero (JAX), our smart and reliable generative-AI business companion, to make accounting tasks easier and save you time through simple conversation within everyday apps.

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More Trending

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Monday Morning Accounting News Brief: FAR Isn’t That Hard If You’re Drunk; Late Muni Audits Piling Up | 3.10.25

Going Concern

Good morning! Hope you didn’t have to waste too much time yesterday setting all your antiquated manual clocks forward like I did. Care for some news? This post from r/CPA popped up when I was scrolling over the weekend, the turnaround gave me a chuckle. OP: FAR isn't that hard you guys! You can do it! OP 9 hours later: Just kidding I was drunk when I said that, it's hard. pic.twitter.com/BnwbIRzXEM — Going Concern (@going_concern) March 9, 2025 If you missed this earlier post

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What’s new in Xero – March 2025 & Quarterly Wrap

Xero

Its been a massive start to 2025! In February , we shared enhancements weve made to invoicing. We also heard your feedback, and so now you can automatically prepare partnership annual accounts and tax returns using Xero data and seamlessly file them with HMRC (read more in the previous edition of Whats New). Check out more in our quarterly wrap video below.

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Keep pace with digital tax compliance: Handle big data and fast reporting

ThomsonReuters

Blog home For large companies operating in a digitalized global economy, indirect tax compliance has evolved from an arduous manual task to a largely hands-off process performed by sophisticated tax technologies that execute most tax functionsdata gathering, computation, reconciliation, invoicing, reporting, filing, etc.automatically and in close to real time.

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How the 50 States Rank By State and Local Tax Rates in 2025

CPA Practice

WalletHub released a new study examining which states had the highest and lowest state and local tax rates to determine where residents are giving the most and least money back to their respective governments.

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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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BPM expands in Canada

Accounting Today

The Top 50 Firm is expanding further in Canada by adding locations in the greater Toronto area and Calgary.

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February Retail Sales Were Down Monthly Amid Tariff Concerns

CPA Practice

Total retail sales, excluding automobiles and gasoline, were down 0.22% seasonally adjusted month over month but up 3.38% unadjusted.

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An inside look at the alternative practice structure

Accounting Today

Firms everywhere are adopting alternative practice structures -- but who knows what an APS really is? William Kelly, chief counsel at Ascend, dives into the details.

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Most CFOs Plan to Pass Tariff Costs on to Customers, Says Gartner Survey

CPA Practice

Gartner polled 192 CFOs and finance leaders from a cross-industry group of organizations with global operations about priorities in response to new tariffs.

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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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AICPA proposes independence changes for PE

Accounting Today

The possible rule changes would affect the alternative practice structures set up by accounting firms receiving private equity financing.

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AuditBoard Adds Advanced AI Capabilities to Internal Audit Platform

CPA Practice

AuditBoard's new features enable customers to audit with impactful, industry-trained, generative AI-powered workflows.

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CohnReznick makes plans after scoring PE funding

Accounting Today

The Apax Partners deal will add more capabilities for the firm to expand geographically in its existing areas as well as new territory.

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New Report Reveals the Value of Strategy Plus Increasing Responsibility for Internal Audit Leaders

CPA Practice

Internal audit functions that are more strongly aligned with overall organizational strategy are more likely to have sufficient funding.

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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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Financial empathy for CPAs isn't an oxymoron

Accounting Today

Deep in the heart of busy season, you may not be feeling much empathy for clients who have been procrastinating and are so disorganized, but you should.

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Nasdaq Suffers Worst Day Since 2022

CPA Practice

Anxiety that tariffs and government firings will torpedo growth in the worlds largest economy extended a three-week stretch of volatility across global markets.

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Voting Continues for the 2025 ProAdvisor Awards

Insightful Accountant

More than 700 Ballots for the 2025 ProAdvisor Awards have already been cast. Have you cast yours?

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Import Cargo Levels Continue to Rise as Tariff Worries Mount

CPA Practice

Amid continuing tariff turmoil, imports at the nations major container ports are expected to remain elevated through this spring but volume could see year-over-year drops this summer.

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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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Tax Season Update: IRS Layoffs, Scam Alerts, and CTA Enforcement Changes

Insightful Accountant

The 2025 tax season continues to evolve with significant changes at the IRS, new scam alerts, and updates to Corporate Transparency Act enforcement. Here's what tax practitioners need to know.

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AI Security: Invoice or Impersonation? 36.5% Spike in Phishing Attacks Leveraging QuickBooks’ Legitimate Domain in 2025

CPA Practice

Cybercriminals are creating free accounts on the Intuit QuickBooks platform, which makes these attacks challenging for people to distinguish from genuine communications.

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UBS found guilty in France of harassing two tax whistleblowers

Accounting Today

UBS France retaliated against its former auditor by sidelining him and refusing to promote him to executive director after he disclosed information to bosses.

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Crowe Global Pulled in Revenue of $5.8 Billion in 2024

CPA Practice

The Crowe global network of accounting firms brought in a combined $5.8 billion in revenue last year, a 10% year-on-year increase.

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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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House unveils Trump-backed bill to avert government shutdown

Accounting Today

The bill would claw back $20.2 billion in spending for the IRS passed as part of President Joe Biden's signature green-energy Inflation Reduction Act.

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BPM to Combine with WBM Partners in Canada

CPA Practice

The top 35 firm is expanding its reach in Canada by merging in WBM Partners, a Burlington, Ontario-based accounting and advisory firm, in a deal expected to be completed on June 1.

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AICPA Accepting Comments on Independence Rule Changes Related to Private Equity Investments in Accounting Firms

CPA Practice

The committees Alternative Practice Structures Task Force will seek comment through June 15 on the memos preliminary conclusions and two interpretation options.

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Small Businesses Pushing for Tax Simplification to Help Them Meet Their Goals in 2025, Survey Finds

CPA Practice

U.S. small businesses are planning for 2025 to be a year of growth and optimismand they're urging Congress and the Trump administration to prioritize tax reform, address inflation, enhance workforce development, cut regulatory red tape, and increase access to capital, according to a new survey from Goldman Sachs.

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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.