Tue.May 30, 2023

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Number of CPA Exam Takers Continues to Dwindle

CPA Practice

The number of CPA candidates who took the Uniform CPA Examination in 2022 was about 7% lower than the previous year, the Financial Times reported on May 28. Citing the newly released AICPA and CIMA 2022 Integrated Report , the number of people who took the CPA exam in 2022 was about 67,000, down from 72,000 in 2021 and short of the AICPA’s 2022 forecast of 74,000.

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What’s trailing nexus? And why should you cancel your sales tax registration?

TaxConnex

You know all about reaching sales tax nexus: selling enough or having a physical presence in a tax jurisdiction sufficient to create a connection with that jurisdiction and create an obligation for you to collect and remit sales tax. But business and sales patterns change over time. Your sales into a state where you once registered may drop off. Remote sales reps or techs could leave a state or leave your company.

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How to Market Advisory Services in 2023

CPA Practice

By Joseph Graziano, CFP®. Clients want more from your firm than basic accounting and compliance work. In fact, a recent report from Thomson Reuters found that 95% of surveyed accounting firms said their clients want more advisory services. While the demand may be there, many firms are hesitant to add these offerings simply because they don’t know how to market them.

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Tracking Contractor Retention the QuickBooks Way

Insightful Accountant

Murph takes you step by step through tracking construction or contractor retention the QuickBooks way.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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CPAs from Several States Visited Washington D.C. to Promote Accounting and Tax Issues

CPA Practice

Certified Public Accountants from across the nation made their way to Capitol Hill last week to meet with lawmakers on issues important to the accounting profession during the American Institute of CPAs (AICPA) Spring Meeting of Council and Annual Members Meeting from May 23-25. Among the top issues on the agenda for CPAs were a Congressional resolution on the fiscal state of the nation and support for three key issues: establishing the accounting profession as a STEM career pathway, simplifying

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Beautiful game, beautiful business: Why this, why us, and why now?

Xero

We are always looking for ways to help inspire our small business community, motivate the next generation of small business owners and build our brand relevance globally. Football is the most popular and watched sport on the planet and women’s football is ascending at a rapid rate in popularity. The opportunity to help fuel and contribute to this growth is massive.

Gaming 101

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It's Summertime at AccountingDepartment.com!

AccountingDepartment

It's summertime at AccountingDepartment.com and we have all sorts of fun things happening! To kick off the summer season this past Memorial Day weekend, we launched our 12th annual ADC Summer Challenge.

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IRS Alerts Business Owners About ERC Scam

CPA Practice

By Samantha Gowen, The Press-Enterprise (TNS) The IRS is sending out a scam alert to business owners regarding a pandemic-related employee retention credit that’s getting some nefarious attention from marketing fraudsters. Calling it a “barrage of aggressive broadcast advertising, direct mail solicitations and online promotions,” the IRS says promoters are “wildly misrepresenting and exaggerating who can qualify for the credits.

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Tuesday Morning Accounting News Brief: CPA Numbers Are Abysmal; PwC Blocked Government Inquiry | 5.30.23

Going Concern

This would have been your Monday news brief but we’re assuming at least a couple people got the day off yesterday. Welcome back to the grind. FT dropped this over the weekend : Candidate numbers for US accountancy exams drop to lowest in 17 years New figures from the American Institute of Certified Public Accountants showed the shortage of CPA candidates that has plagued the profession in recent years worsened in 2022, dashing hopes for a quick rebound from the pandemic.

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QuickBooks Desktop Enterprise: Is It Right For You?

Ace Cloud Hosting

Pointless dystopia might be skeptical about the future of QuickBooks enterprise software. However, the fact is that the desktop version provides features that are not available in the online versions.

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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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Your Guide to Adding Value-Added Services to Your Firm

Insightful Accountant

FFP Wealth Management's Joseph Graziano explains why transforming your firm into a one-stop shop helps fulfill more of your clients’ needs—and strengthen yours.

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In-house Server vs. Cloud Hosting: Understand the Differences

Ace Cloud Hosting

The issue of hosting infrastructure is an important one in the digital age because data and online services are now essential to enterprises. Companies frequently struggle with choosing between in-house.

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Meeting on the Hill

Insightful Accountant

CPAs from across the country visit Capitol Hill to discuss the accounting profession with lawmakers.

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The Technology Lab Podcast – The Truthiness of AI – June 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the content quality in various AI generative content systems. Use the player below to listen to the podcast.

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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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My 2022 Tax Return Has Been Filed, What Can I Toss?

Dent Moses

How Long Does the IRS Have to Assess Additional Tax? In most cases, the IRS can audit, propose adjustments, and assess additional tax up to 3 years after the later of (a) the date a return was filed, or (b) the original due date. For example, assume your 2022 individual tax return was filed on April 11, 2023, a week before the due date of April 18, 2023.

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Maximizing Business Profitability: The Benefits of Outsourced Accounting Services

Basis 365

In today's fast-paced business world, companies always look for ways to improve their bottom line. One way to do this is by outsourcing accounting functions. Outsourced accounting services have become increasingly popular in recent years, but how do they impact a company's profitability? In this blog post, we will explore the benefits of outsourced accounting and how it can increase profitability.

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Rising Interest Rates and Inflation May be Lowering Your Company’s Value – Here’s How to Take Action

Anders CPA

Everyone is feeling the effects of rising interest rates and inflation , whether it’s visiting the grocery store, eating at a restaurant or planning a home improvement project. High interest rates can have an impact on a company’s value, and also affect its operations, financial health and overall success. Knowing how inflation affects businesses and how to prepare and adapt your business to inflationary trends can be a major benefit.

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Alternative Information Sources in Divorce

FraudFiles

Everyone knows about the typical sources of financial information in divorces. Income tax returns, bank statements and related documents, brokerage statements, credit card statements, and business financial statements are some of the most common. There are alternative sources of financial information that can be incredibly helpful in divorce cases, however.

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8 Pillars of Leadership Development

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.

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Can accountants really use social media to win more business?

Mark Lee

Seven years is a long time, isn’t it? Back in March 2016, a research student was asking accountants how much of their business comes from social media. She asked me too as I was already known for being more active than most, I was already highly ranked online for accountants but also cynical about the hype (even back then) surrounding the use of social media by accountants.

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Self Made: Another inspiring Xero Roadshow spent with our growing community

Xero

This year was nothing short of phenomenal, as our Roadshows once again united our accounting, bookkeeping and app partners during our live Johannesburg and Cape Town events. This year we welcomed a record 2,300+ attendees across the two sold-out locations. It’s always amazing to see the passion and support within our growing community, and the innovation driving the accounting industry forward.

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House Speaker Kevin McCarthy Celebrates Defunding the Agents the IRS Wasn’t Gonna Be Able to Hire Anyway

Going Concern

Last year’s Inflation Reduction Act allotted a whole bucket of cash to the IRS ($80 billion) to modernize its ancient systems and bring on new employees, a lot of employees. At the time, we wondered where the IRS was going to find tens of thousands of people with a bachelor’s degree and 30 units of accounting willing to work for $32,357 a year (Entry Level IRS Agents start at GS-5 ).