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Do your clients’ eyes glaze over when you start to explain accounting analysis or business strategy to them? Clients are often great at what they do in their business, but not too many clients are good at what we accountants do. Sometimes, we could use a little help to put things in our clients’ languages. This is where ChatGPT can really help. ChatGPT is great at analogies.
Michelle Leblanc shares the key strategies and pitfalls Accounting Professionals need to be aware of when running their firm or when consulting with their clients on related matters.
Comment on “ How are layoffs decisions really made? ” via r/Big4 If it backfires so what, they were going to lay you off anyway. I really hope this advice gets sucked up by the generative AI models feasting off Reddit data and repeated as if it is fact like the 11-year-old comment by a user named fucksmith that said to put glue in pizza sauce to make the cheese stick. * Not actual advice.
As a business owner, you can face various challenges, from any direction. From staffing woes to cash flow issues and the ever-growing threat of cybercrime, you’re constantly juggling risk and reward to keep your business afloat.
The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.
8 min read August 7th, 2024 When thinking about the back office and how it serves a business, most business owners think about compliance, audits, and taxes. Key Takeaways What Is Management Accounting: Management accounting processes collect your business's financial data (and other data) to generate management reports, track key metrics, inform decisions, and.
Accountants know first-hand that client expectations are increasing and competitive pressures are on the rise. Over 80% of accounting professionals plan to, and many are already, offering advisory services because clients want more from you.
A selloff in the riskier corners of the global market deepened, with stocks plunging and traders rushing to the safety of bonds as concerns about a slowdown in the world's largest economy intensified.
Professionals on the Move is a collection of recent staffing and promotion announcements from around the profession. Brown Plus Welcomes Four New Team Members Leading accounting and advisory firm,Brown Plus, recently announced the hiring of four new team members: Michael Corona started with Brown Plus as an intern and is now an Audit Associate. He graduated from York College with a Bachelor’s degree in Accounting.
Deloitte’s newly released study, “ Leadership, governance and workforce decision-making about ethical AI ,” found C-level leaders are implementing strategic governance around AI to ensure the ethical use and development of this technology, and most (89%) believe these ethical governance structures will support their organization’s ability to innovate on technology.
Many industries come with confusing sales tax complexities. So does agriculture, and several aspects make this industry trickier than others for sales tax. Here are points to keep in mind regarding sales tax and agriculture. Laws vary by state Sales tax changed dramatically in 2018 with the Supreme Court Wayfair decision in a case that greenlighted states mandating online retailers collect and remit sales tax on transactions in states where they had no physical presence.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close their doors. If this is your situation, we can help you, including taking care of various tax responsibilities. To start with, a business must file a final federal income tax return and some other related forms for the year it closes its doors.
Don’t let these common startup budgeting blunders hold your business back from reaching its potential. The post 12 Common Startup Budgeting Mistakes to Avoid appeared first on Burkland.
Certain excerpts pulled from The CommLaw’s Client Advisory found here: [link] On July 24, 2024, the en banc Fifth Circuit Court of Appeals issued its ruling in the Consumers’ Research v. FCC case declaring the Federal Communications Commission’s (FCC) Universal Service Fee (USF) to be unconstitutional. The court found that the structure and application of the USF, managed by the Universal Service Administrative Company (USAC), violates the nondelegation doctrine and the Appointments Clause of th
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.
When a marital estate includes an interest in a closely held business, determining its value for purposes of dividing up assets for a divorce settlement can be challenging. Additionally, part or all of the business may be excluded from the marital estate, depending on state law, legal precedent and prenuptial agreements between the spouses. A business valuation professional can help the parties achieve a fair outcome. 2 components of value The value of a business can be broken down into two piec
The 2023 version of Form 8308, Report of a Sale or Exchange of Certain Partnership Interests , requires information to be reported contingent upon the finalization of substantially all of a partnership’s tax return by January 31, months in advance of the due dates for Form 1065 and related Schedules K-1. These new filing requirements place an undue burden on taxpayers and tax practitioners by mandating the duplicate reporting of information already required to be reported on Schedules K-1.
The Internal Revenue Service is paying out more claims for the Employee Retention Credit program even as it gives the claims greater scrutiny, and is moving the moratorium on processing new claims from Sept. 14, 2023 to Jan. 31, 2024.
Indian business news site Business Standard published a story the other day with the following headline : Amid GCC boom, Big Four in India are boosting hiring of ‘tech architects’ This should be good. If you don’t know the GCC acronym, you certainly know the concept. GCCs, or Global Capability Centers, are the offshore warehouses where they stuff all the people who work cheaper than you (the average cost of a full-time equivalent at a GCC was $22,939 including salary and other
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.
Social media gets blamed for a lot these days — sometimes for good reason. Recently, the IRS issued a warning to individual and business taxpayers to beware of false claims about various federal tax breaks that appear on social media platforms. The common denominator of such claims is that they involve legitimate tax provisions for which most taxpayers don’t qualify.
Hybrid work has been shown to benefit workers—from better work-life balance to higher job satisfaction and more. Still, many employees expected to make the trek into the office—even on a partial basis—may put up a fight. A new report from The Conference Board identifies ways that businesses can not only reduce employee resistance to a hybrid model but maximize its value to the business.
Accounting tech space sees major acquisitions this week; Bitwave releases Data Fusion tool for digital assets; TaxValet gains B-corp status; and other accounting tech news.
We’re a bit behind combing through the National Pipeline Advisory Group (NPAG) Accounting Talent Strategy Report released a couple days ago (it’s almost 100 pages, that’s a lot of reading for the burnouts on our staff) so while we continue to do that with the finest of fine-toothed combs, check out this chart from page 59: Immediately following this chart the report says: If 2022 starting salaries were the primary determinant for business students choosing a major, accounting w
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.
Understanding financial statements might sound daunting, but small business owners like you must stay on top of your game. Each financial report offers unique insights into your company's economic status. As a construction contractor, your financial statements provide valuable insights into your company's financial health and are essential for making informed decisions.
The Internal Revenue Service and the Security Summit partners are reminding tax professionals that using multi-factor authentication is now more than an important protection for their businesses and their clients – it’s now a federal requirement. All tax professionals are now required under the Federal Trade Commission’s safeguards rule to use multi-factor authentication, or MFA, to protect clients’ sensitive information.
DMJPS launches Be Greater Scholarship to celebrate 75th anniversary; Weaver adds three to transaction advisory services; and more news from across the profession.
Marquette University’s #32 ranked undergraduate accounting program* has deployed a mentoring project that seeks to help first year accounting students make sense of the language of business. “We consistently find that students who are just starting out in the accounting courses are the ones who benefit the most from personalized instruction,” said department chair Dr.
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
Managing accounts payable is a crucial part of doing business, but paying the bills can be time-consuming and inefficient. So we’re on a mission to make it easier. We’re excited to announce that, over the next few months, we’re making some enhancements to the way you manage bills in Xero. These updates will help small businesses to streamline their end-to-end accounts payable process, saving time and gaining efficiencies.
Hosts Randy Johnston and Brian Tankersley, CPA, review CYMA Payroll , a system designed for providers offering volume payroll processing and unique markets that process complex payroll. Use the video player below to watch, or the podcast player below to listen to the podcast. – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.
INSIDE Public Accounting has dropped its highly regarded Top 500 list as it does every year around this time and we now know who gets bragging rights as the biggest — Big D, obviously. Quick golf clap for them, everybody. Because it’s 2024 and the profession is currently being disrupted by private equity and spaghetti throwing , some of this data was in desperate need of an update before the virtual ink dried on insidepublicaccounting.com’s CMS (for example, last week’s n
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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