Summit CPA
NOVEMBER 12, 2024
Mergers and acquisitions (commonly known as M&A) is on a lot of people's minds. Post-Covid, money dried up and EBITDA shrank, but today the market for agencies feels stronger than in 2023. Owners who had been sitting on the sidelines are now more likely to put themselves back in the M&A game.
GrowthForceBlog
NOVEMBER 13, 2024
9 min read November 6th, 2024 Looking at nonprofit financial management from a for-profit perspective makes the unique needs of a nonprofit's back office seem exceedingly complex. Key Takeaways Why Fund Accounting Is Crucial for Nonprofit Organizations: In nonprofit organizations, the goal and rules of accounting differ from the for-profit world. Nonprofit organizations aim to use almost all of their resources to further their mission in the.
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Ryan Lazanis
NOVEMBER 13, 2024
Tax season often leads to overtime for firm owners, but it doesn’t have to. Discover a series of simple strategies to break the cycle. The post Your First Step To No Overtime This Tax Season appeared first on Future Firm.
CPA Practice
NOVEMBER 11, 2024
A Top Technology Initiative Article by Randy Johnston. Many of you are anticipating the year ahead. The outlook couldn’t be brighter with new opportunities, technologies, challenges, and clients looking to take advantage of your service offerings. In this column, I will illustrate portal and AI support with some new platforms that are examples of improved automation and AI.
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You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes?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.
AccountingDepartment
NOVEMBER 13, 2024
Opting for outsourced client accounting services can significantly conserve time and resources for your business. Nevertheless, locating a reliable outsourcing partner can be difficult. But how can you be sure you’re choosing an outsourced accounting service you can trust? A few characteristics of trustworthy, competent, and reliable accounting services will help you know the provider you chose is the right one.
TaxConnex
NOVEMBER 12, 2024
Fear frequently motivates all tax compliance. And with sales tax, as with most other kinds of tax, that fear is of an audit. This unwanted (and sometimes seemingly random) scrutiny from tax jurisdictions can terrify small companies. Fact is, reasons for an audit can vary from a jurisdiction’s unique methodology to audits of one’s customers or vendors to simple bad luck.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Randal DeHart
NOVEMBER 15, 2024
Setting financial goals for your construction business may be one of your most important responsibilities as a leader and business owner. Your financial goals serve as far more than wishful projections; they form the backbone of your road map for success, both internal and external. Financial goals are something that every single business should possess regardless of its market, model, or size.
CPA Practice
NOVEMBER 12, 2024
CPA Practice Advisor has opened the nomination period for one of its most prestigious awards. The Most Powerful Women in Accounting Awards , now in their 12th year, were created by CPA Practice Advisor to promote and support the success of women leaders as part of its broader mission of sustaining the profession. There are no costs associated with nominations or award recognition.
Accounting Today
NOVEMBER 11, 2024
Credits or deductions for renovations, repairs or energy-efficient upgrades are available — but clients often need reminders and professional help to get them.
Accounting Seed
NOVEMBER 15, 2024
How to trust your numbers and know your business is providing a reliable picture of performance You stare at last month’s recurring revenue numbers and wonder if you can justify a major investment in new product development. But the rows and rows of data aren’t giving you what you need. For one, the report came in late, which leaves you little time for analysis.
Speaker: Gerald Ratigan
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.
ThomsonReuters
NOVEMBER 14, 2024
Highlights: Data analytics types : Useful data for predictive modeling includes historical financial data, operational data, customer data, market and economic data, and non-financial performance metrics. Predictive modeling types: Predictive models are categorized into non-parametric and parametric types, each with unique uses and techniques, including classification models for yes/no responses, outliers models for fraud detection, and clustering models for marketing strategies.
Basis 365
NOVEMBER 14, 2024
One of the biggest financial challenges facing creative agencies and professional services firms is managing cash flow, especially when dealing with high labor costs and project-based work. For these types of businesses, employees are not only the biggest asset but also the largest expense. Yet, even with talent that delivers exceptional value to clients, many firms struggle with a simple yet critical task: getting paid quickly.
CPA Practice
NOVEMBER 12, 2024
Navan, a major provider of travel and expense management reporting, has launched the Navan Accountant Console, a centralized dashboard that streamlines spend management for accounting firms supporting multiple clients, users, and products. The console allows accounting firms to standardize client spend processes, regardless of clients’ existing bank and credit card brands.
Canopy Accounting
NOVEMBER 13, 2024
In this episode of Canopy’s Practice Success Podcast , guest host Davis Bell, CEO of Canopy, sits down with Enrico Palmerino, the CEO of Botkeeper. They explore the intersection of accounting, AI, and technology. Enrico shares his journey from a young entrepreneur managing accounting challenges to founding Botkeeper, a platform dedicated to automating bookkeeping processes.
Speaker: Sean Yoder
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.
ThomsonReuters
NOVEMBER 15, 2024
← Back to blog For many accounting firm owners and leaders, the idea of transforming their practices from a traditional, transaction-based model into an advisory-centric firm is an appealing one. Advisory services can lead to stronger client relationships, a healthier bottom line, and a more balanced work-life dynamic. Yet, despite the advantages, making this shift can seem daunting.
SchoolofBookkeeping
NOVEMBER 11, 2024
Converting data from QuickBooks Desktop to QuickBooks Online is a smart move for many businesses seeking enhanced accessibility and streamlined processes. However, it's not without its challenges. One common issue is the loss of certain custom functionalities, such as the ability to add custom columns on invoices. In this blog, we'll explore how Method CRM can solve this problem, allowing businesses to fully leverage QuickBooks Online without sacrificing essential features.
CPA Practice
NOVEMBER 11, 2024
By Steve Saah. Succession planning is a crucial element in the strategic management of any organization, and CPA firms are no exception. As a business built on expertise, relationships and trust, your firm can face unique challenges when it comes to transitioning leadership — especially if you don’t have a plan and the employees you’d like to promote aren’t prepared to ascend.
Menzies
NOVEMBER 15, 2024
Menzies LLP - A leading chartered accountancy firm. Creditors play an important role in insolvency proceedings, one of the reasons is because they hold significant influence over the process and its results. Their part is essential, not only in safeguarding their financial interests but also in ensuring that the processes are handled as fairly and efficiently as possible.
Speaker: Joe Wroblewski, Sales Engineer Manager
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
Accounting Insight
NOVEMBER 15, 2024
iplicit named 40th fastest-growing tech company iplicit Ltd, the fastest selling mid-market accounting solution in the UK, has been listed among the 50 fastest-growing tech companies in the UK. The industry disruptor secured 40th place in the annual Deloitte UK Technology Fast 50 list. Rankings are based on percentage revenue growth over the last three years. iplicit grew 742% during this period, from the year ending March 31 2021 to the year ending March 31 2024.
SkagitCountyTaxServices
NOVEMBER 14, 2024
Pause and take a collective exhale with me… The presidential election is behind us. Now that the chaos is over, we can focus on what’s ahead. I’d suggest taking a little sage advice from those t-shirts we had in 2010 – “Keep Calm, and Carry On.” With a new president in office, there are going to be plenty of tax legislation changes in the near future – those Trump proposed in his campaign and those he didn’t.
CPA Practice
NOVEMBER 14, 2024
The American Institute of CPAs and the Chartered Institute of Management Accountants are launching a new initiative, the AICPA & CIMA Global Women to Watch recognition, to honor women who have made significant contributions to the accounting profession and their peers. This recognition will amplify the global voices of both emerging and experienced leaders in the accounting and finance profession.
Withum
NOVEMBER 12, 2024
Understanding when audited financial statements of a retirement plan are required to be attached to a Form 5500 is an important part of demonstrating fiduciary responsibility over the plan and preventing unnecessary fines for an invalid filing of the 5500. A plan is required to have an audit attached to the Form 5500 when they are a “large plan”. For plan years beginning on or after January 1, 2023, the plan has an audit requirement if they have 100 participants with account balances as of the f
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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
Going Concern
NOVEMBER 15, 2024
While the IRS is “working diligently to process Employee Retention Credit (ERC) claims as quickly as possible,” according to them, countless businesses that qualified for the “fraud-ridden” pandemic-era credit are still sitting around waiting for payments. Speaking about these delays in a Fortune opinion piece earlier this year, former IRS commissioner Chuck Rettig said “fighting fraud should not come at the expense of legitimate small businesses with claims pending
Accounting Insight
NOVEMBER 11, 2024
The Institute of Financial Accountants (IFA) has announced new strategic partnerships with Croner-i and Clearview FX to further boost its member offering, delivering wider business benefits to accounting professionals. The collaborations will enable the IFA to better assist accountancy firms to support the needs of UK SMEs, through access to innovative software solutions and online resources.
CPA Practice
NOVEMBER 12, 2024
By Aaron Harris. Artificial intelligence (AI) is rapidly transforming industries across the board, and the accounting sector is no exception. In fact, the U.S. leads in this transformation, embracing AI-powered solutions at a rate far exceeding the global average. A recent global survey conducted by Forrester Consulting, in collaboration with Sage, reveals that 76% of U.S. businesses have already integrated AI into their accounting practices.
VJM Global
NOVEMBER 12, 2024
In various GST circulars issued recently concerning clarification on the applicability of GST rates, and clarification on the classification of goods and services, the phrase “as is” or “as is, where is basis” has been used extensively to regularize the matters before the effective date of clarification. The GST Council in its 54th Meeting has recommended issuance of clarification to clarify the intent behind the regularization done in the past meetings.
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TaxConnex
NOVEMBER 14, 2024
Sales tax comes with a lot of important terms. One is “drop shipment.” Drop shipments are common in ecommerce and often occur when a seller uses a distributor for order fulfillment to a buyer. In such a transaction, a distributor must charge sales tax to the seller. Sounds simple – and in many ways it is, except that a drop shipment can often involve not two but three locations (usually states) where sales tax must be considered.
Going Concern
NOVEMBER 15, 2024
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.
CPA Practice
NOVEMBER 11, 2024
The Public Company Accounting Oversight Board (PCAOB) revoked the registration of a Chinese audit firm on Nov. 8 for repeated violations of U.S. auditing rules and for failing to cooperate with an investigation into those violations. Over a period of several years, JTC Fair Song CPA Firm, a public accounting firm located in Shenzhen, the People’s Republic of China, repeatedly failed to make required filings in accordance with PCAOB rules, the audit regulator said.
Accounting Today
NOVEMBER 11, 2024
In the first two parts of this series (here and here), we explored what accounting firms can learn from accounting technology vendors. The first article discussed how vendor business models can inspire accountants to rethink their approaches to innovation and client experience, and the second article highlighted approaches tech companies use in talent management to attract and retain top talent.
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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