Thu.Sep 05, 2024

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CPA business execs more pessimistic about economy

Accounting Today

Only about a quarter of CPA business executives expressed optimism about the prospects for the U.S. economy over the next 12 months, down from more than a third last quarter, according to a new survey.

CPA 124
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Sales tax on shipping: latest updates

TaxConnex

Ecommerce couldn’t exist without shipping (and probably not without shipping’s partner “handling,” either), but do either incur sales tax? As is often the case in sales tax, it depends on what, how and where. If the item is taxable, for instance, generally the shipping is, too – if the shipping is taxable at all in a jurisdiction, which it or the handling – or both – may be.

Sales 264
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Meet the 2024 Best Midsized and Large Firms to Work For

Accounting Today

An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.

Account 136
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Two-Thirds of U.S. Financial Services Execs Lack the Right Data Environment to Use AI Effectively

CPA Practice

More than two-thirds (76%) of financial services operations leaders in the U.S. believe that using AI would enable them to make faster, more effective decisions, but 62% lack the data management capabilities and data environment to capitalize on the technology’s potential. That is according to a new international study commissioned by ActiveOps , a leading provider of AI-powered decision intelligence for service operations.

Gaming 129
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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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Meet the 2024 Best Small Firms to Work For

Accounting Today

An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.

Account 131
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KPMG Gets Aboard the Unlimited PTO Train

Going Concern

…as expected, some people are b g about it. Rumors have been swirling for weeks like so many unflushable logs that KPMG was about to announce unlimited PTO, something their competitors at EY did four years ago. As seen on r/KPMG: You all were right. They just announced unlimited PTO by u/Active_Ease_2367 in KPMG EY’s switch to unlimited PTO was immediately shat upon, and rightfully so, after a leaked senior management email made the rounds.

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Watch Out for These Sales Tax Audit Triggers

CPA Practice

By Scott Peterson. With more than 13,000 sales and use tax jurisdictions across the United States, tax rates are subject to change as new policies are implemented and others expire. In a typical fiscal year, there are thousands of sales tax rate updates. Keeping up with sales tax changes can be difficult and, even if you’re careful, your business can be selected for a state audit.

audit 115
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Tax Fraud Blotter: Incorrect positions

Accounting Today

On ice; the end of the beginning; Speed trap; and other highlights of recent tax cases.

Tax 116
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Hunter Biden Intends to Change Plea to Guilty in Federal Tax Case

CPA Practice

By Muri Assunção New York Daily News (TNS) Hunter Biden intends to change his plea in his federal tax case, his lawyer told a federal judge in Los Angeles on Thursday just moments before jury selection was set to begin. The second son of President Joe Biden has been accused of nine misdemeanor and felony offenses. Prosecutors say the 54-year-old failed to pay $1.4 million in federal taxes and used the money to fund a lavish lifestyle.

Tax 115
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Pathways to growth: Ready to land some bigger fish?

Accounting Today

Market disruption is creating significant opportunity for accounting firms.

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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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CAS Transformation is Only One Piece of Business Transformation

CPA Practice

CPA firms today are at a crossroads. Remote and hybrid work intensified the push toward digital transformation. Technology is automating much of their “bread and butter” transactional and compliance work, and clients are looking for more from their advisors. Firms that adapt to these changes are better positioned to thrive, and central to this adaptation is Client Accounting Services (CAS) or Client Accounting & Advisory Services (CAAS).

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Financial Planning & Analysis: The Secret to Scaling Your Business Successfully

AccountingDepartment

Financial Planning & Analysis (FP&A) is crucial for any business aiming to scale successfully. It involves detailed financial forecasting, budgeting, and analytical processes that drive strategic decision-making.

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Top Remote Accountants of the Week | September 5, 2024

Going Concern

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #22410136 Certifications: CPA Education: BS Accounting, MBA Experience (years): 15+ y

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Hidden Levers in Your Financial Statements

Summit CPA

Did you know there are hidden business levers in your financial statements? That’s right. By fully understanding your financial statements inside and out, you can identify methods to alter your business cash flow. But that first part of that last sentence is key: you need to fully understand your business financials (which can seem pretty hard if you don’t break your financial metrics down into digestible pieces of information).

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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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Anders Recognized as a Best of the Best Accounting Firm by INSIDE Public Accounting for the Fourth Consecutive Year

Anders CPA

Anders has once again been recognized as a Best of the Best firm by INSIDE Public Accounting (IPA) for the fourth consecutive year after moving up to #73 on IPA’s Top 100 Firms List. This distinction places Anders among an elite group of 75 top-performing CPA firms across the U.S. and Canada, selected from over 600 firms that participated in the IPA Practice Management Survey.

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Maryland Joins IRS Direct File Program For 2025

CPA Practice

By Sam Janesch Baltimore Sun (TNS) Marylanders who have relatively straightforward tax returns will have the chance to ditch independent—and sometimes costly—tax preparers and instead file their federal taxes directly with the IRS for free in 2025, state and federal officials said Wednesday. The new “direct file” system launched as a pilot program earlier this year and Maryland is one of the first states that will make it available during its permanent expansion.

Maryland 105
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Cloud in Finance Industry – Benefits and Use Case

Ace Cloud Hosting

As per the O’Reilly survey, cloud technology adoption is increasing among industrial sectors, with over 90% of corporations employing cloud technology in their business process.

Finance 105
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EisnerAmper Joins Forces With Tighe, Kress & Orr in Illinois

CPA Practice

Top 20 accounting firm EisnerAmper is expanding its presence in the Chicago area by merging in Elgin, IL-based CPA firm Tighe, Kress & Orr. Financial terms of the deal, which is expected to become final in October, weren’t disclosed. Jay Weinstein “TKO really gets it. They listen to clients, work with them on tailored solutions, and strive for ongoing client growth,” Jay Weinstein, Eisner Advisory Group vice chair of industries and markets, said in a statement.

Illinois 104
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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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What has Failure Taught Us in Achieving Success?

Accounting Insight

In the realm of any business industry, failure is frequently seen as something that should be avoided at all costs. The fear of making mistakes can be paralysing, leading accountancy firm owners to play it safe and avoid risks. However, the truth is that failure is not the enemy of success; it is an essential component of it. In fact, a few of the most successful accountancy firm owners have experienced significant failures on their path to success.

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Setting Up for Success: The Importance of Grounding in Client Meetings

CPA Practice

Setting the Container I received the email in the morning. “The data coming through from our new booking system isn’t correct, and it’s going to take us another 3 weeks to do the QC. I’m so sorry to drop this on you.” I was supposed to pull the trigger on a major software change for the largest client I had ever worked with that afternoon. I responded simply that we would figure it all out together and that I was looking forward to seeing her at 2:00.

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PwC UK Orders the Troops Back to the Office For Three or More Days a Week

Going Concern

Staff and partners at PwC UK were informed today that they are expected to work in the office or at a client site a minimum of three days a week, reports Bloomberg. Former senior partner Kevin Ellis, who retired in June after 40 years at the firm, tried the RTO carrot many times over the past several years, suggesting that if people want to get ahead they’ll want to show their faces at the office lest they be replaced by AI.

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How To Start A Small Business: Padgett & Padgett, PLLC CPA’s Steps (Part 1)

SkagitCountyTaxServices

We’re all waiting and watching (and hoping) to see if federal interest rates will be dropping soon. But the outcome of the August jobs report could also have a big impact on stock market prices. What does this mean for you as a small business owner? Well, a weak jobs report means consumers are more cautious about spending in your Skagit County business, and you might have a reduced ability to hire the right kind of people (something important when you’re considering starting your own business).

Legal 74
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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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SEC charges former Circor director with fraud

Accounting Today

Nicholas Bowerman was charged with manipulating Circor's internal accounting records, resulting in the company to overstate its financial performance by millions of dollars.

Account 69
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AI Sucks at Making Regulators’ Jobs Easier, For Now

Going Concern

Browsing the internet last night long after I should have been asleep (as one does), I was served an article that Google thought would be of interest to me: “Government Test Finds That AI Wildly Underperforms Compared to Human Employees” [ The Byte ]. This article was based on another article that appeared on the hilariously-named Australian outlet Crikey : “ AI worse than humans in every way at summarising information, government trial finds.” Do we even need to dive any

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EisnerAmper to merge in Tighe, Kress & Orr

Accounting Today

The Top 25 Firm is expanding in Illinois, the latest in a series of M&A deals since EisnerAmper received private equity funding.

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Economy Worries Linger Among CPA Business Executives, AICPA Says

CPA Practice

CPA business leaders’ optimism about the economy has dropped for the second straight quarter, as only about one-fourth expressed a positive outlook over the next 12 months, down from more than a third in the second quarter , according to the latest AICPA & CIMA Economic Outlook Survey. The third-quarter 2024 survey includes 310 qualified responses from AICPA members holding executive and senior management accounting roles, including CEOs, CFOs, controllers, and other CPAs in U.S. companies

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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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Private sector job growth slowed to 99,000 in August

Accounting Today

Annual pay grew 4.8% year-over-year, payroll giant ADP reported Thursday, as the job market showed further signs of a cooldown.

payroll 69
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Fixing the Balance Sheet

Withum

Being able to get an overview of a financial statement quickly is important to determine if additional time should be allocated to a thorough review. This is one of the skills my students will learn this semester in my Baruch College Introduction to Managerial Accounting course. The course aims to teach students how to determine what data is needed, how to use and apply the data, understand its reliability and how timely the data should be.

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Penfold Reveals Innovative Xero Payroll Pension Integration

Accounting Insight

Penfold, the modern digital pension provider, is thrilled to announce its new pull integration with Xero – automating pension contribution processing entirely. It eliminates the need for manual uploads or button presses, enabling employers and accountants to set and forget their pension processing. Penfold’s the first pension scheme to offer this kind of powerful integration to a mainstream payroll software.

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HR and payroll tech firm buys Airbase

Accounting Today

HR and payroll solutions provider Paylocity announced it has bought spend management software company Airbase for $325 million.

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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.