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← Blog home When it comes to tax legislation, change is the only constant. While many accounting firms find a shifting regulatory environment to be a significant challenge, forward-looking firms are harnessing the latest technology to give their firm a competitive advantage. But how do you know where to start? Sometimes, the best business insights come directly from the clients you serve.
By Garrett Wagner, CPA. So, let’s get something out of the way: I’m “old” now. At over 40, I’m no longer the young buck, fresh out of college, wide-eyed and optimistic about the accounting world. I mean, I’ve reached that age where I squint at Gen Z’s TikToks and think, “This is what’s cool now?” But before I delve too deep into self-pity, let’s focus on something we can all agree on: we’ve all heard this same refrain since the dawn of time—“This new generation doesn’t get it.
As ESG considerations become more integral to business strategy, companies face significant challenges in collecting, managing, and reporting ESG data. That’s why ESG reporting tools are becoming an increasingly important piece of the enterprise tech stack. Fragmented data sources, evolving regulatory requirements, and rising stakeholder expectations are just a few of the obstacles that can make ESG reporting a complex endeavor — and one that many executives don’t feel prepared for.
A prestigious group of hotels has chosen UK-based iplicit’s award-winning cloud accounting software as the platform for running its finances. Cedar Court Hotels is the largest independent collection of four-star hotels in some of Yorkshire’s most desirable locations. The business has 35 years of experience in welcoming guests to the county, with hotels in Harrogate, Huddersfield, Bradford and Wakefield.
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.
Cleveland-based Cohen & Co. is the latest to enter the private equity frenzy, as the top 50 accounting firm said on Oct. 25 that it has received a strategic growth investment from Lovell Minnick Partners (LMP), a private equity firm focused on investments in financial services, business services, and financial technology companies. Financial terms of the deal, which is expected to close on Dec. 31, weren’t disclosed.
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.
Nearly two weeks after it was announced that top five U.S. accounting firm RSM US and the U.K. version of RSM are in “advanced discussions” to merge in a move that would further service their middle-market clients as they expand globally, top seven firm Grant Thornton US said on Oct. 24 that it was combining its tax and advisory business with its counterparts at Grant Thornton Ireland.
Nearly two weeks after it was announced that top five U.S. accounting firm RSM US and the U.K. version of RSM are in “advanced discussions” to merge in a move that would further service their middle-market clients as they expand globally, top seven firm Grant Thornton US said on Oct. 24 that it was combining its tax and advisory business with its counterparts at Grant Thornton Ireland.
The three profits included in accounting textbooks: gross profit, operating profit and net profit are a good start for accountancy students. Limiting them to just three types of profit is intended to avoid overburdening young accountants at the beginning of their studies. If they told them up front that more than 15 different types of profit exist, our poor accounting students would all abandon their studies and probably open trendy wine bars instead.
Erica Williams was sworn in by the Securities and Exchange Commission for her second term as chair of the Public Company Accounting Oversight Board on Oct. 24. Her new five-year term officially begins today and lasts through Oct. 24, 2029. “I am honored and excited for the opportunity to continue working alongside my fellow board members and the talented and committed PCAOB staff to protect investors.
We’ve been told by multiple sources that Citrin Cooperman (IPA Top 100 #19 with $674 million in revenue) laid people off this week but unfortunately details are sparse. If anyone has actual numbers or info on affected service lines, please get in touch. Citrin Cooperman is one of the several top 20 accounting firms to have sold a stake to private equity in recent years.
The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.
Hosts Brian Tankersley, CPA, and Randy Johnston review Liscio , a client experience platform that centralizes communication, document collection, and task management for accounting firms. Watch the video, or listen to the audio podcast below: Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.
Small and midsized businesses are facing growing staffing challenges, as rising business costs and economic conditions are prompting potential layoffs, according to the Fall 2024 Main Street Index from top 15 accounting firm CBIZ. Fifty-one percent of SMB owners surveyed say they are evaluating or changing current staff levels and outsourced partners to prepare for a potential economic downturn.
Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.
The power of education can transform lives. Explore Other Episodes #CivicWarriors #WithumImpact The post A Centennial Celebration With Central Scholarship Bureau appeared first on Withum.
The Internal Revenue Service did little to stop fraudsters who used the Practitioner Priority Service Line to fraudulently claim nearly $462 million in refunds, per the Treasury Inspector General for Tax Administration.
Accounting clients, both individuals and businesses, are excited about the cloud. Some have already switched, while most are still considering their options. With its QuickBooks Desktop software, Intuit has been.
Traphagen CPAs raises over $1K for American Cancer Society; KPMG appoints four partners to deal advisory & strategy practice; and more news from across the profession.
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
Menzies LLP - A leading chartered accountancy firm. What is BCorp? Certified B Corporations (BCorps) are businesses that meet high standards of social and environmental performance, accountability, and transparency. Administered by B Lab, a nonprofit organisation founded in 2006, the BCorp certification signifies that a firm is committed to balancing purpose and profit, prioritising both the well-being of people and the planet alongside financial returns.
A Florida man has pleaded guilty to evading the payment of more than $1.7 million he owed for tax years 2004 through 2014. According to court documents and statements made in court, David Albert Fletcher, of Deltona, owned and operated several furniture liquidations businesses in Florida, including Century Liquidators. For tax years 2004 through 2013, Fletcher did not timely file his federal income tax returns or pay taxes.
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
Effective leadership is crucial for project success in the dynamically challenging construction environment. A Project Manager (PM) oversees operations, guides teams through day-to-day tasks, ensures effective communication, and maintains stakeholder alignment. As many of you, our readers and clients, are both wearing two hats - PM and Owner; it's essential to understand the advantages and disadvantages of taking on both roles.
Generative AI has proven to be amazing at creating text – so good that it has been impossible to tell for sure whether the text has been written by a human or generated by AI. As we’ve seen, this has led to all sorts of problems, from widespread misinformation to students being falsely accused of plagiarism. Now, researchers at Google’s Deep Mind labs think they have come up with a solution: SynthID – a tool that writes and reads text watermarks – to finally have an answer for how to detect AI-g
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.
Menzies LLP - A leading chartered accountancy firm. HR update: Need to know From 26 October 2024, all employers in England and Wales will be under a duty to take reasonable steps to prevent sexual harassment in the workplace (the preventative duty). The Equality and Human Rights Commission (EHRC) has provided guidance on this preventative duty. What does this mean?
RSM announces "Catamaran" suite of outsourced solutions; Avalara announces AvaTax for Accounts Payable; Sage Copilot launches in US; and other accounting technology news.
While President Trump’s tax proposals maintain many of the current provisions for individuals and businesses, the impact of the proposed tariff increases on the existing federal budget deficit, individual income taxpayers, and theglobal economy remains unclear. A recent study conducted by the Tax Foundation found that the Trump tax policy will provide a larger relative benefit to higher-income taxpayers, while his major proposed offset of higher import tariffs has a larger impact on lower—
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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