Wed.Dec 11, 2024

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Navigating the Hidden Costs of Business Decisions: The Crucial Role of Opportunity Cost

AccountingDepartment

In the dynamic world of entrepreneurship and business management, every decision you make can significantly impact your business's trajectory. Whether it's choosing between investing in new technology or expanding your product line, the choices are endless and often complex.

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Accepting Crypto Payments for Commerce

Withum

Crypto has continued to gain mainstream adoption in the global economy. Each day, more firms are considering the benefits of digital assets and the implementation of payments for their businesses. Offering cryptocurrency payment options may help firms gain a competitive advantage. Should You Integrate Cryptocurrency Payments? If you’re interested in integrating cryptocurrency payments, the guide below will help you make the right decision: Evaluating the Benefits Before diving into the com

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Wolters Kluwer Adds Features to TeamMate+ to Enhance Internal Audits and Data Quality

CPA Practice

Wolters Kluwer, a provider of professional information, software solutions, and services, has announced two significant enhancements to its TeamMate+ audit management platform: Multi-Year Audit Planning and the Business Rules Engine. The new capabilities will enable internal audit teams to streamline planning, improve data accuracy, and enhance governance.

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Fintech Foundations That Scale

Shay CPA

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. Its 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.

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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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Market Valuation Techniques in the Cannabis Industry

Withum

The valuation of businesses associated with the cannabis industry offers valuation experts a myriad of opportunities. A multitude of challenges faced by industry operators present unique challenges for a valuation analyst. Valuations must carefully consider the economic, industry and specific company risks associated with the subject company. Industry-specific considerations include regulatory complexities that can vary on a state-by-state basis.

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AccountsIQ bolsters senior leadership team with CFO and CMO appointments

Accounting Insight

Today AccountsIQ , a leading provider of fully cloud-based accounting software, has announced new additions to its senior leadership team. James Hunter joins as its Chief Financial Officer, and Evan OShea has been appointed as Chief Marketing Officer. Hunter is a CFO with extensive experience setting up and running Finance Functions. A chartered accountant, he previously worked in PwCs Assurance department, followed by its Finance Managed Services team.

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The 2024 Top 100 People: The most vital issues in accounting

Accounting Today

Accounting's most influential outline the profession's biggest challenges.

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Maximize Real Estate Depreciation Deduction with A Cost Segregation Study

Dent Moses

Cost segregation creates a unique opportunity for building owners to minimize taxable income by maximizing depreciation expense in the year or years following the purchase or development of a building. Cost segregation is a method of allocating building costs to components with a shorter depreciable life, which increases the depreciation deduction in the early years of owning the property.

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PCAOB sees signs of improvement in audit quality

Accounting Today

Auditing firms appear to be making headway on fixing some of the problems identified by the Public Company Accounting Oversight Board.

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Cory Stewart named to Intuit ProAdvisor Council

DMCL

Were thrilled to announce that Cory Stewart, Senior Manager , has been appointed to the Intuit ProAdvisor Council. This recognition highlights Corys extensive expertise in accounting and his deep understanding of QuickBooks and cloud-based accounting solutions. The ProAdvisor Program, developed by Intuit, is designed to support accounting professionals globally by helping them accelerate growth and improve efficiency in their practices.

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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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Wanted: Accountants in the classroom

Accounting Today

Accounting professionals with real-world experience can have an outsized impact on accounting students.

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Murph's Payroll App Comparison is Today

Insightful Accountant

At today's 'Be Insightful' Premium Content App Comparison, Murph will be reviewing fourteen Payroll Solutions that work with QuickBooks or Xero, as well as other general ledgers. You can still register for the 3:00 PM (Eastern) Webinar.

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Modernized e-File system slates shutdown for December

Accounting Today

IRS Business Modernized e-File system will partially and temporarily offline for maintenance just before the end of the year.

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Increasing Your Prices Without Changing Service Levels

Ryan Lazanis

Many firm owners struggle with raising prices for underpaying clients. Discover the challenges involved and how to overcome them. The post Increasing Your Prices Without Changing Service Levels appeared first on Future Firm.

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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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Maximize tax benefits with year-end tax planning

Accounting Today

With changing tax regulations and incentives, staying informed about the latest updates is crucial for optimizing client outcomes.

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Including A Mutual Fulfillment of Responsibilities Paragraph in Your Contracts

Canopy Accounting

We're in a 3 part series on how to make our client agreements smarter. Our goal is to clarify our client agreements and better support the relationship we desire with our clients.

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CAS practices grow 17%

Accounting Today

The American Institute of CPAs and CPA.com released their 2024 CAS Benchmark Survey.

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IRS Reminds Retirees of RMD Requirements by Year-End

CPA Practice

The Internal Revenue Service is reminding those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements and other retirement plans, and highlighted updates introduced by the SECURE 2.0 Act. Required minimum distributions (RMDs) are amounts that many retirement plan and IRA account owners must withdraw annually.

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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.

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Franklin Alliance offers PE alternative to small firms

Accounting Today

The Franklin Alliance, a venture capital-backed operating company, acquired Bement & Company, offering small firms an alternative way to scale outside of private equity.

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Ransomware Gang Says Deloitte Sucks at Their Job

Going Concern

Cybersecurity sites have been reporting that Deloitte UK’s been hacked by ransomware group Brain Cipher after the group claimed they’re in possession of a (compressed) terabyte of data from the King’s Green Dot. The r/consulting reaction to this news is golden: Let no one claim consultants aren’t funny. Anyhoo, as expected Deloitte has something to say about this and it’s “nuh uh!

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Springline Advisory adds HM&M and Clark, Raymond

Accounting Today

The private equity-backed firm invested in HM&M Advisory, based in Dallas, and Clark, Raymond & Company in Redmond, Washington.

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Beneficial Ownership Information: Updates for Skagit County Business Owners

SkagitCountyTaxServices

Were living in a historical moment: Procrastinating might have just worked to your advantage. While it goes against everything within me (and everything I encourage you toward in my writings), Im handing you procrastinators the win today. Congratulations. Just try not to let this become a habit. I discussed the basics of BOI reporting in a previous writing this year which covered the details you needed to know to avoid frightening non-compliance penalties.

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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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Certinia touts enhanced analytics, AI, automation in latest release

Accounting Today

Financial operations platform Certinia announced its latest release, featuring new enhancements to its professional cloud as well as bolstered AI, analytics and automation capacities.

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Schellman Acquires Connor Consulting

CPA Practice

Schellman & Company, LLC , a provider of attestation and compliance services and a top 50 CPA firm, has announced the acquisition of INSYTE CPAs, LLC practice. As part of the transaction, INSYTEs clients and personnel will transition to Schellman. Their shared client-centric approach to delivering tailored solutions and best-in-class service serves as an excellent complement to the strategic fit between the two firms.

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2024 Top 100 People extra: AI, PE and other concerns

Accounting Today

As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "What is the most important issue currently facing the accounting profession?

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How collaboration with tax teams helps businesses succeed

ThomsonReuters

Traditionally, many corporate businesses have organized their KPIs, reporting and operations by title. Tax professionals and trade finance teams are often treated as separate functions, with separate responsibilities and goals. However, collaboration across all areas of financial reporting is vital in helping businesses navigate todays increasingly complex, globalized business environment.

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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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Macy's shares fall after profit hit by accounting error

Accounting Today

The retailer trimmed its profit outlook after concluding its investigation into an employee plot to hide millions of dollars in expenses.

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Bessent to meet Senators as he preps for Treasury Secretary vote

Accounting Today

Republicans seek to pass sweeping legislation that renews Trump's 2017 tax overhaul and eliminates taxes on tips, overtime pay and Social Security benefits.

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Biden defends economic record, says Trump plans threaten growth

Accounting Today

President Joe Biden warned that Republican Donald Trump's plans to extend tax cuts and reshape global trade through tariffs risked reversing economic gains.

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