Accounting Insight
JUNE 7, 2024
While the accounting sector has long been shaped by technology, and in particular automation, the last couple of years have perhaps laid the foundations for the greatest change to date. At the heart of this shift is AI and its growing integration with accounting software. But change is also being driven by evolving customer habits in a post-Covid and digitised landscape.
Accounting Today
JUNE 7, 2024
While the Internal Revenue Service has managed to reduce its backlog of unprocessed tax returns since the pandemic, one area where it's losing ground is in processing all the documentation for tax adjustments.
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Going Concern
JUNE 7, 2024
By Sharon Lassar, PhD, CPA (Florida) John J. Gilbert Professor and Director of the School of Accountancy, University of Denver As much as I enjoy reading Going Concern, I find the article titled “ Did the Anti-150 Hour Crowd Finally Beat the AICPA Into Submission? Looks That Way ” troubling. Busy people might read only the title and believe that the “extra 30” is dying.
Accounting Today
JUNE 7, 2024
The amount of time that identity theft victims have to wait for tax refunds has increased as the Internal Revenue Service has shifted priorities, with some victims waiting nearly two years.
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As scams grow more sophisticated, it's crucial to stay proactive in defending against these threats. This guide equips CFOs, accountants, and business leaders with five essential steps—from fundamental safeguards to advanced security measures to strengthen your financial defenses. From enhancing data security to implementing fraud detection tools and safeguarding financial transactions, this guide provides expert advice that could save your company millions.
CPA Practice
JUNE 7, 2024
This week at the ENGAGE conference in Las Vegas, topline results of the Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey were revealed during the AICPA Town Hall. What was discussed were the biggest issues facing accounting firms of differing sizes in 2024—and which of those challenges were the most common. Survey respondents were asked to rank the impact of a host of issues on a 1 to 5 scale, with one being “minimal” and five being “extreme.
Ronika Khanna CPA,CA
JUNE 7, 2024
Table of Contents When starting a business, it can be confusing and a little overwhelming to keep on top of the different types of tax filings that need to be submitted and ensuring that these tax deadlines are met. It isn’t always clear, particularly to a new business owner, as to what the various documents from Revenue Canada or Revenue Quebec relate to., which often contains jargon that requires decoding.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
JUNE 7, 2024
A federal jury convicted a Utah man on June 4, 2024, of tax evasion and forcibly retaking property that had been seized by the government to pay his outstanding tax debt. According to court documents and evidence presented at trial, Paul Kenneth Cromar owned a home in Cedar Hills, Utah, and operated Blue Moon Productions LLC, a freelance film and media production company.
Randal DeHart
JUNE 7, 2024
In the competitive construction industry, implementing efficient business systems can make a significant impact on the overall success and profitability of a construction business, regardless of its size or specialization. From streamlining operations to improving project management, adopting efficient systems can yield tangible benefits that truly pay off in the long run.
Accounting Today
JUNE 7, 2024
The growing number of fraud victims who suffer staggering financial losses often find themselves having to pay Uncle Sam for their missing income, experts say.
CPA Practice
JUNE 7, 2024
By Sarah Acton. Growth is often top of mind for accounting firm leaders, but what does sustainable growth actually look like in practice? In this Q&A, I asked Jason Blumer, CPA to discuss firm growth and what firms truly need to be able to scale and succeed. Jason knows a thing or two about firm growth and innovation: after originally taking over his father’s accounting firm, he is now the CEO of Blumer CPAs, an experimental CPA firm, and founder and CEO of Thriveal CPA Network, a community
Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global
In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!
Accounting Today
JUNE 7, 2024
Prosecutors alleged that Autonomy used a number of manipulations to make its revenue growth appear better than it was, such as back-dating contracts, pretending to ship goods, and overpaying for unnecessary services so vendors would then buy the company's products.
AccountingDepartment
JUNE 7, 2024
We are thrilled to announce that Episode 21 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.
CPA Practice
JUNE 7, 2024
Hosts Randy Johnston and Brian Tankersley, CPA, review Black Ore Tax Autopilot, an AI tax prep system for CPAs, which features complete 1040 tax preparation automation. Use the video player below to watch, or the podcast player below to listen to the podcast. – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.
Accounting Today
JUNE 7, 2024
A former auditor, Nicolas Forissier was made a "chevalier" — or knight — of France's National Order of Merit during a ceremony at the Senate in Paris.
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Bizinta highlights three crucial reports for financial and accounting consultancies to enhance profitability: Utilization Reporting maximizes billable hours Profitability by Consultant identifies top performers Contribution by Client prioritizes high-value clients These reports provide accurate insights, replacing guesswork with data-driven decisions.
CPA Practice
JUNE 7, 2024
The Department of the Treasury and Internal Revenue Service have issued Notice 2024-48 (PDF) that publishes information taxpayers may use to determine whether they meet certain requirements under the Statistical Area Category or the Coal Closure Category in Notice 2023-29 for purposes of qualifying for the Energy Community Bonus Credit. These lists are provided in Appendix 1 PDF and Appendix 2 PDF of this notice.
Withum
JUNE 7, 2024
There is too much talking and not enough listening. This is particularly so in politics where it is believed that the more you talk and the louder, the more your views will get through. I don’t believe this is so, but it might be since that is what I see on political segments on television and hear on the radio. I do not think the browbeating is effective.
CPA Practice
JUNE 7, 2024
Boomer Consulting, Inc., a provider of unique consulting services, peer-led communities and thought leadership for the accounting profession, has launched the Boomer Knowledge Network ( bkn.boomer.com). This innovative, subscription-based platform is designed to deliver valuable resources to accounting firms of all sizes, helping them achieve growth and profitability.
Accounting Today
JUNE 7, 2024
The deadline for Accounting Today's 2024 VAR 100 survey has been extended to Wednesday, June 12.
Speaker: Claire Grosjean
In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.
Patriot Software
JUNE 7, 2024
From tax preparation to advising, your accounting services are invaluable to small businesses. One in-demand service among small business owners is payroll. Not to mention, 43% of accounting firms believe payroll services can benefit clients.
ThomsonReuters
JUNE 7, 2024
Earned wage access (EWA), also known as on-demand pay, continues to be an integral part of the employee benefits packages offered by employers. With technological advancements enabling instant access to earned wages, employees increasingly expect such financial flexibility in managing their cash flows, which can spur adoption and growth. Some of the resistance points from payroll professionals and concerns with tax compliance are being addressed through communication and the use of data analytic
Cherry Bekaert
JUNE 7, 2024
Komar Brands Apparel Manufacturing & Distribution The Project Komar Brands has built a world-class apparel manufacturing and distribution operation over the last century. Today, the company is 50% owned by women, and the Qualified Active Low-Income Community Business (QALICB) will maintain this status. With over 100 brands, a global footprint, and recent growth, the company is looking to expand on its track record of success.
LSLCPAs
JUNE 7, 2024
Accounts payable fraud is a growing concern for local governments, with vendor scams becoming an increasingly common problem. Bad actors are contacting local governments, claiming to be from a vendor and requesting changes to addresses or bank information. Without proper controls in place, these changes are often made without verification, resulting in payments being made.
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Accounting Today
JUNE 7, 2024
Here's a step-by-step guide to calendar blocking.
ThomsonReuters
JUNE 7, 2024
With AI-powered tax technology automating most traditional tax compliance work, forward-thinking accounting firms are increasingly shifting their business model and engaging clients in a new (and more profitable) way: advisory services. Making this transition, however, requires a change in mindset. Advisory engagements are centered around your client’s business goals and strategy (in addition to traditional tax compliance, of course) and are built into your client relationships from the get-go.
Accounting Today
JUNE 7, 2024
The jobs report blew past expectations, although the unemployment rate ticked up to 4%.
CPA Practice
JUNE 7, 2024
By Associated Press via Fast Company (TNS) America’s employers added a vigorous 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates. Last month’s strong job growth reflected the durability of America’s consumer-driven economy. With the nation’s households continuing their steady spending, many employers have had to keep hiring to meet their customer demand.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.
Accounting Today
JUNE 7, 2024
Plus, Vertex consolidates Accelerator and Chain Flow Accelerator into single solution; and other accounting tech news.
Accounting Today
JUNE 7, 2024
The prospect of a fresh round of tax cuts next year is helping Donald Trump woo Wall Street donors but threatens to add trillions of dollars to the national debt.
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