Tue.Nov 19, 2024

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Private Equity is Picking Up Accounting Firms By the Handful Now

Going Concern

Well this is a surprising turn of events. On Friday, we prompted the readership to speculate about which mid-tier accounting firm was going to announce a private equity investment on Monday after a Reddit post teased an imminent announcement. Our money was on Carr, Riggs, & Ingram and a tip that came in shortly after publication confirmed that suspicion.

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Stacking CPA and CMA Credentials Is an Investment for a Career-Long Payoff

CPA Practice

By Monte Swain, PhD, CMA, CPA, CGMA. If you’re planning a career in the world of accounting or finance, two distinctions have the branding impact and bench strength you need. Invest your time and effort into stacking the Certified Public Accountant (CPA) and Certified Management Accountant (CMA) letters behind your name. First and Lasting Impressions The first impression a potential employer will have of you comes in a flash – the top line of your LinkedIn profile or your resume or perhaps a qui

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Exciting New Rules for Retirement Savings Happening in 2025 – The Super Catch-Up Contribution

LSLCPAs

The Secure 2.0 Act is raising the catch-up contribution limit for workers, with the goal to make retirement more attainable. Beginning in 2025, participants in 401K or other employer-provided qualified retirement plans who are age 60, 61, 62, or 63 by 12/31/25 can take advantage of the Super Catch-Up Contribution, which is $11,250 instead of. The post Exciting New Rules for Retirement Savings Happening in 2025 – The Super Catch-Up Contribution appeared first on LSL CPAs.

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Disclosures Regarding Audit Firm Oversight Have Plateaued, CAQ Report Finds

CPA Practice

A new analysis of audit committee disclosures of companies in the S&P 1500 reveals a plateau in disclosure rates across several areas important to investors, including considerations in appointing or reappointing the external auditor, length of auditor tenure, and how the audit committee evaluates audit fees in relation to audit quality. The Center for Audit Quality (CAQ) and Ideagen Audit Analytics on Nov. 18 released the 11th iteration of the annual Audit Committee Transparency Barometer R

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Live Demo - Supercharge your Month End Close

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The ROI of Implementing Sage Intacct: A Cost-Benefit Analysis

GrowthForceBlog

8 min read October 19th, 2024 Deciding whether or not to invest in a next-level accounting solution with enterprise resource planning (ERP) capabilities, is a big decision. Key Takeaways How to Perform a Cost-Benefit Analysis of Sage Intacct Implementation: First, you'll need to look at the costs of purchasing and implementing new software in your business.

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Japanese Restaurant Owner Avoids Raw Tax Deal

CPA Practice

In the past, taxpayers have often relied on the “Cohan rule” from an age-old case to bail them out of a tax jam. It often comes up when a business is unable to substantiate all of its out-of-pocket expenditures. Now a restaurant owner in a brand-new case, Pak, TC Memo 2024-86, 9/11/24, has gone back to the well again. Basic premise: The plaintiff in the landmark federal court decision was none other than legendary vaudeville and Broadway star George M.

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Beyond AI Hype: Why Data is Your Next Smart Move

CPA Practice

By Jeff Gramlich, CPA, CITP In today’s audit landscape, we’re witnessing the early stages of an AI revolution. But what happens when AI meets truly free-flowing, real-time, standardized financial data? Let’s look beyond the current buzz and explore what’s actually possible when we solve the data problem first. The missing piece: Data that flows While everyone’s talking about AI, there’s a crucial element that often gets overlooked: the quality and accessibility of the underlying data.

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Modulr acquires accounts payable automation disruptor Nook

Accounting Insight

Modulr , the embedded payments platform, today announces its acquisition of Nook , an innovative disruptor in accounts payable (AP) automation. Both companies share a mission to address inefficiencies, remove manual steps and enhance the security of business payments. These are significant concerns, as highlighted by Modulr’s survey of 250 accounting practices which revealed that nearly half (45%) of respondents spend over three hours per week on manual data entry.

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What is a Fractional CFO and Does My Business Need One?

Basis 365

In the fast-paced world of business, financial oversight is crucial. But not every company, especially companies that are in strong growth stages, needs a full-time Chief Financial Officer (CFO). This is where a fractional CFO can step in to provide companies with executive-level financial expertise on a part-time, contractual, or project basis. This flexible approach gives businesses access to the strategic guidance they need without the high cost of a full-time CFO.

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Doeren Mayhew Adds BHT&D in Michigan

CPA Practice

Top 60 accounting firm Doeren Mayhew has expanded its footprint in western Michigan by acquiring Biggs, Hausserman, Thompson & Dickinson (BHT&D CPAs), a Saranac-based full-service CPA firm. Financial terms of the deal weren’t disclosed. BHT&D and its employees began operating under the Doeren Mayhew name effective Oct. 2. Joshua Garvey “We’re committed to continuing to grow our West Michigan market.

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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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Case Study: The Alchemy of Innovation – NetSuite ERP Success in the Chemical Sector

Withum

Learn how Withum’s ERP team worked with a chemical manufacturer optimize its operations by implementing Oracle NetSuite and utilizing add-on products to enhance efficiency. Executive Summary A chemical manufacturer sought to optimize its operations by implementing Oracle NetSuite. Withum’s ERP team worked with the client to maximize NetSuite’s capabilities, utilizing add-on products to enhance efficiency.

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The complexities of IDT compliance in the age of MedTech innovation

ThomsonReuters

← Blog home The emergence of new trends now has serious implications for medical technology (MedTech) companies and their ability to maintain compliance with indirect tax (IDT) rules and regulations. Compliance has traditionally been a complex undertaking for the MedTech industry, but the advent of advanced, integrated technologies and global business operations are introducing additional considerations that must be addressed.

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Choosing a Business Entity Webinar

Withum

Starting a business is a big undertaking and is admirable. However, it entails great risks. One risk that is not always recognized is the choice of entity and that is something that should be decided upon before starting the business. Join me on November 21, 2024 for a webinar on Considerations for Choosing the Right Business Entity to determine which is best for you.

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How Accounting and Tax Firm Owners Can Prevent Burnout

CPA Practice

By Jackie Meyer, CPA Recent research has found that 99% of accountants experience burnout, which as personally disturbing as it sounds, can ultimately impact your bottom line. In this article, I plan to dive into how you can not only prevent burnout, but increase profit in your firm. In the accounting world, burnout is especially common during tax busy season.

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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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TIGTA celebrates 25th anniversary

Accounting Today

The Treasury Inspector General for Tax Administration has launched a social media campaign, even as the Senate is vetting its next head.

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Main Street Alliance and Small Business Majority Team Up For Tax Fairness

CPA Practice

The Main Street Alliance and Small Business Majority have launched the Small Business Tax Fairness Coalition (SBTF), a national initiative to advocate for a U.S. tax code that prioritizes the needs of America’s entrepreneurs. This partnership comes as Congress prepares to renegotiate the Tax Cuts and Jobs Act (TCJA) ahead of the sunset of many of its key provisions in 2025—a pivotal moment for small businesses across the country.

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PwC funds AI accounting fellowship

Accounting Today

PricewaterhouseCoopers made a $1.5 million investment to Bryant University to fund the launch of the PwC AI in Accounting Fellowship.

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The truth about bank feeds: Busting the top three myths

Xero

Bank feeds have transformed how small businesses manage their bookkeeping. Gone are the days of manually comparing bank statements with accounting records. Today, with cloud accounting, you can securely and automatically import bank transaction data and easily reconcile it, so you have a single, up-to-date view of your transactions and cash flow. Bank feeds reduce manual admin and automate data entry.

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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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ADM restates earnings in bid to fix accounting

Accounting Today

The move follows an accounting scandal that has wiped out billions of dollars in market value and drawn investigations by the DOJ and SEC.

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Intuit Accountants Innovation Showcase: Dallas, TX

Insightful Accountant

How are a great venue, cool professionals, informative speakers and great refreshments all connected. by Intuit Enterprise Suite.

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FASB proposes guidance on accounting for government grants

Accounting Today

The Financial Accounting Standards Board issued a proposed accounting standards update to establish authoritative guidance on the accounting for government grants received by business entities.

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Award Applicants: "Don't Hit Submit Unless You Really Are Finished"

Insightful Accountant

Whether you are a U.S. or International Applicant for the 2025 Awards there are two critical things to remember when working on your application.

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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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IFRS Foundation offers sustainability risk guide

Accounting Today

The guide can help companies identify and disclose material information about sustainability-related risks and opportunities that could affect their cash flow.

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Navigating Mergers and Acquisitions in Creative Agencies

Summit CPA

Jonathan Baker joins Hannah and Jamie as they delve into the intricacies of mergers and acquisitions (M&A) within the creative agency sector.

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In the blogs: Questions for the moment

Accounting Today

Fighting scope creep; QCDs as the year ends; advising ministers; and other highlights from our favorite tax bloggers.

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Expert Testimony That Non-Accountants Can Understand

FraudFiles

Testifying is the pinnacle of an expert witness’s work in a case. It may well be the most important part of the expert’s work, as the assistance of a competent financial expert is the key to cases involving economic damages and other financial calculations. An expert must do much more than just analyze facts and [.

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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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Super Micro soars after hiring new auditor

Accounting Today

In a bid to stay listed, the company appointed BDO USA as its independent auditor after EY resigned.

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FASB Looks to Add New Rules on Accounting For Government Grants by Businesses

CPA Practice

A new proposal that would establish authoritative guidance on the accounting for government grants received by businesses was issued by the Financial Accounting Standards Board (FASB) on Nov. 19. U.S. accounting rules don’t currently have specific guidance about the recognition, measurement, and presentation of a grant received by a business entity from a government.

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Balancing ethics and advocacy in tax resolution

Accounting Today

CPAs must navigate conflicts of interest, transparency and confidentiality while representing clients in IRS negotiations.

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Job Market is Turning Chilly For Recent College Graduates

CPA Practice

By Alex Tanzi Bloomberg News (TNS) In a cooling U.S. labor market, recent college graduates are among those feeling the chill most. The gap between the unemployment rate for recent graduates and the overall rate for Americans with a college degree widened to 2.8 percentage points in September, according to data published Tuesday by the Federal Reserve Bank of New York.

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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.