Mon.Jul 08, 2024

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5 Signs It’s Time to Move On from QuickBooks

Accounting Seed

A revealing list of the top 5 reasons businesses make the switch from QuickBooks to Accounting Seed for their accounting needs.

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IRS fights misleading social media claims

Accounting Today

The Internal Revenue Service has stepped up efforts to combat dubious tax advice promoting schemes involving the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes.

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AICPA News – July 2024

CPA Practice

AICPA News is a collection of recent announcements from the American Institute of CPAs and the Chartered Institute of Management Accountants. AICPA Recognizes Six Individuals with 2024 Outstanding Young CPA Award The AICPA & CIMA recently recognized six practicing CPAs under the age of 40 with the 2024 AICPA Outstanding Young CPA Award. Every year, these awards are given in memory of Maximo Mukelabai, a member of the inaugural class of the AICPA Leadership Academy whose life was tragicall

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Accounting Today news quiz: July 8

Accounting Today

Test your accounting knowledge on identity theft, sales tax reliance, and more. No. 2 pencil not required!

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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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Most People Think Their Salaries Won’t Give Them Financial Security

CPA Practice

By Bruce Crumley, Inc. (TNS) Business owners facing employee requests for higher pay have plenty of reasons why they can’t increase salaries over current levels, and a new survey suggests another one. They may not be making enough money to feel financially secure themselves. A new poll shows that people across a wide range of revenue levels believe they need far higher incomes to feel financially secure—considerably more than businesses could possibly pay them.

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Deadline for MP Elite 2024 submissions extended for final time

Accounting Today

Due to extensive interest, Accounting Today is extending the deadline for submissions for its annual Managing Partner Elite list to the end of the day on Monday, July 15.

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More Trending

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Ryan lawsuit halts noncompete rule

Accounting Today

A federal court issued a stay and a preliminary injunction against the Federal Trade Commission's non-compete rule after a lawsuit by the Ryan, a Dallas-based tax services firm, and the U.S. Chamber of Commerce.

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Debunking the Myths Can Help Firms Start Implementing AI

CPA Practice

By Shane Westra. Over the past several years, artificial Intelligence (AI) and machine learning technologies are becoming increasingly integrated into the daily operations of accounting firms. This change offers both challenges and opportunities, which is an important perspective to maintain as you navigate the adoption of AI in your practice with an eye on maintaining high levels of overall security.

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Art of Accounting: Growing by not learning

Accounting Today

When it comes to practice management, try to learn as much as you can from whatever source is available.

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The Xero Beautiful Business Fund is back for 2024

Xero

We’re thrilled to announce the return of the Xero Beautiful Business Fund for 2024. With a prize pool of over NZ$750,000, the Xero Beautiful Business Fund is back to support small businesses and non-profits in seven countries with their growth plans and help drive future success. Small businesses are driven by dedicated and passionate individuals who work hard to contribute to their communities and their local economies.

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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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About the 2025 ProAdvisor Awards Nomination Form

Insightful Accountant

In this third article of Murph's miniseries on the 2025 ProAdvisor Awards forms, he examines the new Nomination Form and gives some quick tips on its use.

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David Hartley Appointed to the SIU Foundation Board of Directors

Anders CPA

David Hartley, CPA, CISA, advisory partner-in-charge at Anders CPAs + Advisors (Anders), has been appointed to the Southern Illinois University (SIU) Foundation Board of Directors effective July 1, 2024. With a distinguished career and a deep commitment to philanthropy, Hartley brings invaluable expertise to the Foundation’s mission of supporting SIU’s academic endeavors.

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IRS: Kentucky Storm Victims Qualify For Tax Relief

CPA Practice

By Janie Slaven, The Times-Tribune, Corbin, Ky. (TNS) The IRS announced tax relief for individuals and businesses in parts of Kentucky affected by severe storms, straight-line winds, tornadoes, landslides and mudslides that began on April 2, 2024. These taxpayers now have until Nov. 1, 2024, to file various federal individual and business tax returns and make payments.

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How great works of art can bring grand tax savings on capital gains

Accounting Today

Art carries higher rates than most investments, but financial advisors and their clients can tap into trusts, charitable donations, loss harvesting and the stepped-up basis.

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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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Professionals on the Move – July 2024

CPA Practice

Professionals on the Move is a round-up of promotion and staffing announcements from around the profession. Daniel Winokur joins Wipfli as partner, healthcare services Wipfli LLP , an advisory firm, recently announced that Daniel Winokur has joined the firm’s national healthcare services practice as a partner. Winokur is an executive management consultant with 15 years of experience advising federally qualified health centers and other socially responsible ventures.

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BDO's new COO and chair plan improvements

Accounting Today

BDO USA recently appointed a new COO to oversee efforts to improve its audit practice and technology, as well as implement its ESOP.

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U.S. Job Market Shows More Signs of Slowing, ADP Data Suggests

CPA Practice

By Jarrell Dillard, Bloomberg News (TNS) Labor data Wednesday added further evidence that the labor market is slowing down. U.S. companies hired workers at a more moderate pace in June and wage growth cooled in private payrolls, according to data from the ADP Research Institute. Recurring claims for unemployment benefits rose for a ninth straight week, the longest stretch since 2018 that indicates a growing number of people are having difficulty finding a new job.

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Canada enacts digital-services tax amid US reprisal threat

Accounting Today

U.S. lawmakers and government officials view the tax as unfair and have threatened to retaliate if Canada moved forward with it.

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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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Staying Profitable in a Competitive Cannabis Market: A Conversation with Marianne Cursetjee of Alibi Cannabis

Anders CPA

Cannabis cultivation is not for the weak of heart. It’s also not for fly-by-the-seat-of-your pants kind of people. When Marianne Cursetjee co-founded Alibi Cannabis in Oregon, they had to finance it all themselves: the land, the construction, the equipment. Luckily, she was disciplined enough to run the numbers, start small, and create high-quality, high-value cannabis that now regularly sells out before the four-month journey from seed to product.

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Monday Morning Accounting News Brief: Should Partner Pay Be Tied to Audit Quality?; Capital Markets Cry Out for Accountants | 7.8.24

Going Concern

Morning! I trust everyone had a safe and fun 4th of July except for our non-American readers who I hope enjoyed their Thursday. It’s summer so spirits should be high regardless. I don’t expect there to be much news out there today, maybe the profession watercooler will surprise me. I found out from Reddit over the weekend that AI is going to put both you and me out of a job.

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Automating Your AP Nightmare with Smart Data Extraction

Insightful Accountant

Many accounting professionals struggle with the time-consuming and error-prone task of managing accounts payable (AP). If you missed our recent App Academy , MakersHub presented how their innovative solution can revolutionize this critical process.

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New Year, New Business Plan

Reckon

Your business is always changing, and your business plan should reflect that. This handy document is key to tracking your company’s progress and helping you and your team stay on target. And with the new financial year upon us, now might be the perfect time to take your business plan out of the drawer and give it a fresh update. Yes, you’ve probably got a lot on your plate already, but getting into the habit now can pay off down the track.

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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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Pennsylvania Institute of CPAs publishes Firm Tech Report

Insightful Accountant

The Pennsylvania Institute of CPAs has published a 29-page CPA firm Tech Report with insightful information on the use of technology and where firms are moving related to tech.

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7 Reasons to Make Time for Strategic Planning

LSLCPAs

In the bustling world of business, where every minute counts and the pace seems relentless, it’s easy to get caught up in the daily grind and lose sight of the bigger picture. However, amidst the chaos, there exists a crucial activity that is often overlooked but holds the key to long-term success: strategic planning. Strategic. The post 7 Reasons to Make Time for Strategic Planning appeared first on LSL CPAs.

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The Importance of Crypto Investigation Tools

Withum

The Cryptocurrency market has become a booming industry over the past few years, with an influx of investments in digital assets like Bitcoin, Ethereum, and many others. However, as the popularity of cryptocurrencies grows, the number of scammers and hackers trying to exploit people’s lack of knowledge and experience in the field also increases.

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State CPA Society News & Updates – July 2024

CPA Practice

State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories. The Illinois CPA Society (ICPAS)—one of the largest state associations in the nation serving the certified public accountant (CPA) community—recently announced that Larry J. Wolfe, CPA, is the recipient of its prestigious 2024 Lifetime Achievement Award.

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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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H&L Sector: Post-Election 2024 Commentary

Menzies

Menzies LLP - A leading chartered accountancy firm. Overview The UK general election has resulted in a landslide victory for the Labour party, making a significant shift in the political landscape, which has been under Conservative governance for the past 14 years. Labour’s, Sir Keir Starmer is poised to bring numerous changes, which will lead to implications in the Hospitality and leisure sector.

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Ponzi Scheme Red Flags

FraudFiles

Charles Ponzi How do you know if you’re considering investing in a Ponzi scheme? The promoters will never come out and tell you they are running a pyramid scheme, so the investors have to be smart enough to recognize them on their own. The good news is it is easy to spot a [.

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T&L Sector: Post-Election 2024 Commentary

Menzies

Menzies LLP - A leading chartered accountancy firm. Overview Following the Labour Party victory in election results, there are several key points from their 2024 manifesto that would significantly impact the industry. These policies intend to reshape the transport, logistics and warehouse landscape with the aim of promoting sustainability, efficiency, and social equity.

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RNC platform highlights tax cuts, border

Accounting Today

A Republican party committee approved a 2024 platform ahead of next week's convention that includes addressing the migrant border crisis, cutting taxes and boosting domestic energy production.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

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.