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7 min read October 1st, 2024 The main purpose of running a business is to make money, and making money means generating profits. Key Takeaways The Benefits of Cost Accounting: The primary benefits of cost accounting include maximized profits, reduced costs, optimized pricing, stronger profit margins, revenue generation. Understanding the Cost Accounting Methods: A variety of different methods exist within the cost accounting principles.
AICPA News is a round-up of recent announcements from the American Institute of CPAs. AICPA & CIMA and the University of Lodz launch joint program to empower students for career success AICPA & CIMA, together with the Association of International Certified Professional Accountants, recently teamed up with the University of Lodz, Poland (UL) to launch the much-anticipated CGMA University Program to professionals enrolled in its Polish-American MBA program.
New entrants to the profession face more decisions more often than ever in building their accounting careers. Expert weigh in with their best career advice.
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
Unlock the secrets to Software as a Service (SaaS) success by mastering these essential KPIs, which serve as the foundation for understanding and optimizing your business performance. By focusing on these key performance indicators, you can gain valuable insights into customer behavior, financial health, and operational efficiency, ultimately driving growth and ensuring long-term sustainability in the competitive SaaS landscape.
Top 10 accounting firm CLA (CliftonLarsonAllen) announced plans on Oct. 1 to open new “connection centers” and office spaces in Phoenix and Charlotte, NC. Earlier this year, CLA said it planned to invest $10 million in its new connection center in the Minneapolis suburb of Eagan, MN. The connection centers are dedicated spaces for learning and development, leadership training, team building, events, client meetings, and more, according to CLA.
Top 10 accounting firm CLA (CliftonLarsonAllen) announced plans on Oct. 1 to open new “connection centers” and office spaces in Phoenix and Charlotte, NC. Earlier this year, CLA said it planned to invest $10 million in its new connection center in the Minneapolis suburb of Eagan, MN. The connection centers are dedicated spaces for learning and development, leadership training, team building, events, client meetings, and more, according to CLA.
TIGTA said the IRS failed to address literally tens of thousands of security vulnerabilities in both its mainframe platform environment and its security application environment.
It seems like every other day we’re seeing a new story about an accounting firm that’s suffered a data breach. Just the other day, CBIZ revealed bad actors exploited a vulnerability on one of its web pages and acquired information from retiree health and welfare plan databases including Social Security numbers. They did not report the number of total affected individuals.
How do you think small businesses in your area are doing? New regional and provincial data from Xero Small Business Insights (XSBI) helps track differences in small business performance within Canada and within the US. This data provides a more granular look at each country by sharing a richer, more nuanced perspective when compared to national level statistics.
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.
Announced moments ago on Twitter and earlier today in a press release, Securities and Exchange Commission Division of Enforcement Director and amateur poet Gurbir S. Grewal is leaving the agency effective October 11. No word on why such a sudden departure. Today we announced that Gurbir S. Grewal, Director of the Division of Enforcement, will depart the agency, effective Oct. 11, 2024.
The 7217 is designed to report the basis of all distribution of property that a partner receives from a partnership in a non-liquidating or liquidating distribution.
What makes you the obvious choice for clients when they’re deciding between you and a competitor? Is it the niche services you offer, the exceptional service you provide, or your strong online presence?
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.
In this episode of “Canopy Practice Success,”Michelle Weinstein, founder of The Abundant Accountant, shares her insights on how accounting, tax, and bookkeeping firm owners can break free from the grind of feeling undervalued and underpaid.
Murph has teamed up with 'Be Insightful' to bring you a program on ERP Alternatives to QuickBooks. The program will feature a Presentation-webinar, a Blue Paper, and a follow-up Question & Answer-webinar.
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.
I sold my firm 5 years after starting it. Discover the 6 reasons why buyers were interested, and get tips that could help you sell your firm. The post 6 Reasons Why Buyers Were Interested In My Firm appeared first on Future Firm.
Intuit envisions a future for their clients where consumers and businesses will experience 'done-for-you' functionality within the company's products resulting from 'Agentic AI.
Alpharetta, GA-based CPA and business advisory firm S.J. Gorowitz Accounting & Tax Services has acquired fellow Georgia CPA firm Reed, Quinn & McClure. Financial terms of the deal weren’t disclosed. According to S.J. Gorowitz, the combined offerings of the two firms will complement each other and broaden their ability to serve clients across a spectrum of industries, particularly nonprofits, startup businesses, and entrepreneurial firms.
Each of the Acumatica Editions were included in the 2024 R2 update release. This article discusses various enhancements to the Manufacturing Edition. Insightful Accountant will cover other Acumatica Editions in future articles.
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.
Top 15 accounting firm Crowe is expanding its Artificial Intelligence Center of Excellence (CoE), consisting of its AI lab, AI engineering and AI enablement teams. Led by firmwide AI Managing Principal Doug Schrock, Crowe said it’s tripling the size of its AI lab and AI engineering team to facilitate the co-development of AI innovation and solutions with its clients, and the AI CoE will be multidisciplinary across the firm’s portfolio of services.
In this insightful episode of the Accounting Insiders Podcast, host Gary DeHart interviews Al-Nesha Jones, CPA, MBA, founder of ASE Group who started her firm during maternity leave and share how they have evolved since.
Accounting software provider Netgain has launched NetAsset, a fixed asset accounting solution that integrates with all enterprise resource planning (ERP) systems, streamlining processes with artificial intelligence-powered automation and compliance. NetAsset provides an advanced cloud-based platform that transforms the management of fixed assets, from acquisition to disposal, while ensuring compliance with both financial and tax regulations, Netgain said in a media release.
Acumatica has just unveiled a product milestone with their 2024 R2 release featuring customer-driven innovations and ERP modernization. The new release reinforces AI functionality and Industry-specific upgrades to their Cloud ERP.
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.
Don’t miss this insightful interview with Jake Berry, CEO of Cloud Labs, as he shares his journey with Guillermo and Brett. From budtender to cannabis manufacturer, Jake discusses the challenges and strategies involved in growing his business. He highlights the importance of understanding market dynamics, consumer behavior, and pricing strategies. Jake also delves into the regulatory landscape and the impact of potential legalization on the industry.
Accounting firm platform Ascend has a new member firm: Lucas Horsfall in Pasadena, CA. Terms of the deal weren’t disclosed. Lucas Horsfall will add 15 partners and about 125 professionals to Ascend’s team. Backed by private equity from Alpine Investors, Ascend partners with regional accounting firms but allows them to stay independent while providing the firms resources to help them grow.
As technology gets increasingly useful, most company founders are encouraged to think about their tech stacks even early on. Basically, your stack is the grouping of software solutions you use at your company. It’s called a stack because, in an ideal world, those tools stack together to create a system that functions together to drive results at your business.
Withum , a nationally recognized CPA and advisory firm with 23 offices and annual revenue of $578M, recently hosted a new-office open house event at the Gateway Center complex in the heart of downtown Providence. Located at 15 Park Row West with scenic city skyline views, the firm’s newly designed office marks a new workspace era that prioritizes a modern, collaborative and innovative environment for team members and clients alike.
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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