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New data published today from award-winning accounting software provider, iplicit, has revealed that the time it takes to prepare month-end accounts is on the rise. Over half of UK finance decision-makers admit that it takes over a week to prepare and submit month-end accounts (55%). This has risen from 39% in 2023! Even more striking is that almost a third say it takes over two weeks (30%) and 1 in 10 confessed it can take over three weeks (13%).
Brian Tankersley, CPA, and Randy Johnston provide a recap of the 2024 CCH Connections user conference. Watch the video, or listen to the audio podcast below (transcript below): Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Brian F. Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab, sponsored by CPA practice advisor, with your hosts, Randy Johnston and Brian Tankersley.
Have you ever wondered how successful construction companies accurately price custom projects? The secret is in a method called Job Costing. For small business owners like you, understanding this process could be the key to increasing your profitability and ensuring that every job is priced right. Welcome to a world where every material, labor, and overhead cost is meticulously tracked to unveil the actual cost of doing business.
Los Angelesa sprawling metropolis where dreams are born under the glow of the Hollywood sign, where the Pacific breeze mingles with the hum of innovation, and where millions of residents and businesses thrive amid a backdrop of sun-soaked streets and iconic landmarks. From the star-studded Walk of Fame to the serene vistas of Griffith Observatory, LA is a city that captivates the imagination.
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
Black Friday may be for big corporations but small business Saturday might be for your Skagit County business. Are you taking advantage of it? I think in this environment of so much broken trust, a small business — like yours perhaps? — can steal market share by being authentic and full of integrity. So you have a true opportunity. But we can ride the Black Friday coattails and remember that customers will absolutely look for deals this time of year.
Understanding use tax, a tax imposed on goods or services purchased outside a jurisdiction but used within that jurisdiction, is critical. Use tax is meant to complement sales tax by ensuring that items bought from out-of-state sellers, where sales tax might not be collected, are still taxed. This knowledge empowers law firms to navigate the tax implications of their purchases.
Understanding use tax, a tax imposed on goods or services purchased outside a jurisdiction but used within that jurisdiction, is critical. Use tax is meant to complement sales tax by ensuring that items bought from out-of-state sellers, where sales tax might not be collected, are still taxed. This knowledge empowers law firms to navigate the tax implications of their purchases.
American Express has issued its new Amex Trendex: Small Business Edition, finding that small businesses anticipate a period of stability in 2025, while they invest in technology to drive business growth. In 2024, small businesses demonstrated resilience in the face of uncertainty, reinforcing confidence in their ability to grow through changing times, said Anna Marrs, Group President, Global Commercial Services at American Express.
If you are self employed or a small business with annual sales between $30,000 and $400,000, it might make sense to select the Quick Method of reporting your GST/HST and QST, which is essentially a simplified method of reporting sales taxes. While regular reporting of sales taxes requires that you calculate all amounts collected and paid on eligible expenses, the quick method (or simplified method as it is also referred to)requires the application of a single reduced rate to your sales while GST
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.
Following the recent Texas Top Cop Shot, Inc., et al., v. Merrick Garland, Attorney General of the United States court case and subsequent appeal, the American Institute of CPAs (AICPA) released the following statement, attributable to Melanie Lauridsen, Vice President of Tax Policy & Advocacy for the AICPA: [Editors note: A federal court in Texas has issued an injunction barring enforcement of the Corporate Transparency Act and BOI reporting, until the case is resolved.
On December 3, 2024, the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA), temporarily halting Beneficial Ownership Information (BOI) reporting to the Financial Crimes Enforcement Network (FinCEN) until further notice. Case Background The case, Texas Top Cop Shop, Inc., et al. v.
Staff report IRS Criminal Investigation (IRS-CI) released its fiscal year 2024 annual report on Dec. 5, which details significant cases involving crimes ranging from tax fraud to cybercrime, enhanced domestic and foreign partnerships, and investigative statistics from Oct. 1, 2023, to Sept. 30, 2024. In FY24, IRS-CI initiated more than 2,667 criminal investigations, obtained 1,571 convictions, and reclaimed its 90% conviction rate.
Sage Copilot available to early adopters US and UK; MS Consultants acquires Tax Credit Hero; Bloomberg Tax and Accounting announces expanded Compliance Tracker; and other accounting tech updates.
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.
Learn how defining your offerings can transform your accounting firm. Discover practical strategies to streamline processes, boost team productivity, and create happier clients.
Thomson Reuters, a global content and technology company, has been positioned as a Leader in two IDC MarketScape reports IDC MarketScape: Worldwide SaaS and Cloud-Enabled SaaS Sales and Use Tax Automation Software for Enterprise 2024 Vendor Assessment, and IDC MarketScape: Worldwide Value-Added Tax Management Applications 2024 Vendor Assessment. In todays rapidly evolving global marketplace, tax compliance has become increasingly complex for multinational corporations.
Whitman Transition Advisors launches new podcast; Bober Markey Fedorovich adds pair to business advisory services; and more updates from across the profession.
Staff report The Public Company Accounting Oversight Board (PCAOB) recently approved a set ofnew requirements regarding public reporting of standardized firm and engagement metrics, as well as a separate but complementary set ofamendments regarding the PCAOB framework for collecting information from audit firms. Erica Williams Sound and consistent information strengthens investor confidence and can drive audit quality, PCAOB Chair Erica Williams said in a statement on Nov. 21.The new requirement
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.
Platform Accounting Group has announced that DHS Advisors has joined the group. Formerly known as D.H. Scott & Company and based in Redding, Calif., the firm is one of the largest CPA firms in the area with nearly 30 employees and has been in operation for nearly 40 years. DHS Advisorshas built a reputation as an aggressive CPA firm employing accountants with advanced degrees and prior experience with national accounting firms.
The results are in, and were proud to celebrate the success of our newest CFE graduates! Passing the Common Final Examination (CFE) is a remarkable achievement, reflecting countless hours of hard work, determination, and growth. Please join us in congratulating the following team members on this milestone: Ansh Chhabra Chaz Olsen Emma Prange Hudson Pandolfo Kai Majkowski Keana Tighe Lukas Bilodeau Michael Sookarow Parker Ross Quinnie Vu Raj Gill Sarina Dhillon Simon Zhang Sophia Wu Steven Kumar
Cash flow is the reason 82% of small businesses fail. Slow or non-payments are a real concern, and as a firm owner, its in your best interest to help your clients receive their payments faster and reevaluate spending. While optimizing costs, adjusting pricing strategies, and improving operational efficiency are valuable steps, I recommend beginning with a thorough cash flow analysis to gain a clear picture and guide impactful changes. 1.
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.
Staff report The Public Company Accounting Oversight Board (PCAOB) on Dec. 3 announced a settled disciplinary order sanctioning audit firm Weinstein International CPA, based in Tel Aviv, Israel, and its owner and sole partner, Idan Weinstein, for violating U.S. auditing rules and standards in connection with three issuer audits. To protect investors, the PCAOB will not hesitate to take enforcement action against auditors whofailto perform audits in accordance with PCAOB rules and standards,PCAOB
Written Information Security Program (WISP) is an exhaustive policy document that guides businesses in protecting, monitoring, and managing their data security.
Sovos , the maker of transaction tax compliance tools for businesses, says it achieved record-breaking performance during this years Black Friday and Cyber Monday shopping events. The company processed taxes on nearly 300 million items on these two days alone of the 16+ Billion processed annually showcasing the scalability and reliability of its global tax determination engine.
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.
Many in the industry have been sounding the clarion call to examine your firm tech stack. Its not uncommon to hear rumors that older softwares are being sunset, or for users to complain about the lengthy time that has passed without updates. These continued rumors are a reminder for firms to consider transitioning to more modern, innovative solutions.
More than 500,000 Sage 50 users in the UK and Ireland can benefit from reduced manual work and improved financial management Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, today announced a new integration with Sage 50 for its Accounts Payable (AP) solution. The partnership will make Quadients market-leading AP solution widely available to the 500,000 small and medium size businesses in the UK and Ireland that already benefit fr
Profile TaxBee was founded in 2017 by Bianca Ferguson, a seasoned accountant with over two decades of experience and a passion for helping clients manage their finances. Starting in Pearland, Texas, Bianca set out to create a firm capable of serving a diverse range of clients, from small businesses to high-net-worth individuals and professional athletes.
The majority (85%) of finance leaders need a six-day work week to complete their tasks, causing stress and a general feeling of loss of control. Thats according to a survey by AccountsIQ , a leading provider of fully cloud-based accounting software, which surveyed 260 CFOs and finance leaders across the UK and Ireland. The study found that one in four (25%) are overwhelmed multiple times per week, with 63% experiencing this multiple times per month.
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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