Accounting Today
MAY 29, 2024
Firms are using different recruiting practices to attract younger talent, thinking outside the standard talent pool and prioritizing company culture and personal growth opportunities.
GrowthForceBlog
MAY 29, 2024
8 min read May 29th, 2024 Accounting software is integral to every business's operations, management, and financial health. Business owners must select the right accounting software to support their operating strategy, facilitate performance evaluation, and provide invaluable insights that can be used to maximize efficiency and profits. Key Takeaways Cost and Pricing Structure: Desktop accounting software is generally purchased with the initial cost of the software license (in addition to the co
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Summit CPA
MAY 28, 2024
The financial side of running a marketing agency can quickly feel overwhelming. You likely started your agency because you love marketing and excel at it - not because you wanted to pour over financial statements and generate reports. But as an agency owner, you know that while handling agency financials isn’t the most fun part of your job, it's nevertheless a vital piece of your agency’s success.
CPA Practice
MAY 29, 2024
By Fady Hawatmeh. The prospect of AI replacing accountants has stirred up some anxiety within the industry. However, it’s important to think of AI as a helpful tool designed to enhance, not replace, the capabilities of humans. Rather than seeing AI as a threat to their careers, accountants should view it as a catalyst that can help them work faster, smarter, and with greater impact.
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As scams grow more sophisticated, it's crucial to stay proactive in defending against these threats. This guide equips CFOs, accountants, and business leaders with five essential steps—from fundamental safeguards to advanced security measures to strengthen your financial defenses. From enhancing data security to implementing fraud detection tools and safeguarding financial transactions, this guide provides expert advice that could save your company millions.
BurklandAssociates
MAY 29, 2024
While the challenges are significant, there are opportunities for startups with strong financial discipline and sufficient capital reserves. The post Scaling in a High-Interest Rate Economy: Challenges and Opportunities appeared first on Burkland.
Going Concern
MAY 26, 2024
As you may have read, Barry Melancon is abandoning the AICPA CEO post he’s held since 1995 at the end of this year. Side note about that, I expected the article we put up about it to be one of the most popular of the week but in fact it seems no one cares going off view count alone. So maybe you didn’t read that, actually. Totally 100% coincidentally and definitely not at all related to his planned departure, it was announced the day after his big announcement that the AICPA was soft
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
LSLCPAs
MAY 29, 2024
Does your agency have an internal service fund (ISF)? If you have centralized management of services like fleet or information technology, you may have one or multiple! But do you know if your ISF is really operating like an ISF? Are you fully recovering the costs of your internal services and using this as a. The post Is your internal service fund (ISF) really operating like one?
Accounting Today
MAY 27, 2024
Sometimes spending a little more time on something will save a lot more time later on or reduce the stress level for those involved with that project.
Accounting Today
MAY 28, 2024
Day to day, accountants are already involved in everything from improving energy efficiency to waste management, recycling and digital solutions.
TaxConnex
MAY 28, 2024
Managing your sales and use tax process can be difficult for businesses of all sizes and industries. Unlike most countries, there isn't a nationwide sales tax. So keeping up with the continual changes in states and local jurisdictions and maintaining a fully accurate compliance process for a complex business could make even the best of sales tax experts dizzy.
Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global
In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!
CPA Practice
MAY 29, 2024
Proposed guidance issued Wednesday by the Treasury Department and the IRS explains how eligible facilities can qualify for “technology-neutral” clean electricity tax credits under the Inflation Reduction Act. The 2022 tax-and-climate law sunsets the existing Production Tax Credit (Section 45 of the tax code) and Investment Tax Credit (Section 48) by limiting their availability to projects beginning construction before 2025.
Going Concern
MAY 30, 2024
This is gonna be long and there’s no TLDR. Get over it. As mentioned in this week’s news brief, the Institute of Chartered Accountants in England and Wales (ICAEW) put together a snazzy little report on the state of mid-tier firms based on a survey of managing partners. Keeping in mind that these are specifically mid-tier firms across the pond but the Brits are basically us with funny accents, bland food, and an unnecessary vowel littered throughout their words ending in -or.
Accounting Today
MAY 28, 2024
The Governmental Accounting Standards Board released an updated standard to improve some of the main components of the financial reporting model for state and local governments.
ThomsonReuters
MAY 28, 2024
Jump to: 2024 top priorities Key Insights from the 2024 State of Tax Professionals Report Preparing your firm for the future In the ever-evolving landscape of tax and accounting, professionals are continually adapting to new challenges and opportunities. Having weathered the waves of post-pandemic anxiety, many tax & accounting firms are now shifting their attention back to business fundamentals.
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Bizinta highlights three crucial reports for financial and accounting consultancies to enhance profitability: Utilization Reporting maximizes billable hours Profitability by Consultant identifies top performers Contribution by Client prioritizes high-value clients These reports provide accurate insights, replacing guesswork with data-driven decisions.
CPA Practice
MAY 30, 2024
By Reyes Florez. Headlines highlighting rapid changes in the accounting industry are ubiquitous. The shifts are both obvious and subtle, and for those of us in the industry, it can seem daunting to predict what’s next as even the pace of acceleration is accelerating. Investing time to understand where things are headed is important to a firm’s and professionals’ ability to proactively evolve instead of merely reacting.
Going Concern
MAY 30, 2024
…granted it’s still been a months-long wait for some people but let’s stay positive here and celebrate The Powers That Be shaving a few days off of the first score release of 2024 for the core sections of the exam (AUD, FAR, and REG). On May 29, NASBA received and processed the following scores from the AICPA: pic.twitter.com/K2MYH6Lj0a — NASBA (@NASBA) May 29, 2024 Candidates were just as surprised as we were to see scores appear early, the target score release date for
Accounting Today
MAY 29, 2024
There's a new method of counting defined contribution retirement plan participants that can make a big difference for clients.
Insightful Accountant
MAY 30, 2024
Intuit is offering a variety of discounts for QuickBooks Users and ProAdvisors adopting their QuickBooks Bill Pay plans in lieu of Melio Bill Pay which is no longer integrated into QBO.
Speaker: Claire Grosjean
In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.
CPA Practice
MAY 31, 2024
By Jason Green, The Mercury News (TNS) OAKLAND, Calif. — An East Bay man who once served as an Internal Revenue Service officer has been sentenced to a federal prison term for his role in a plot to fraudulently obtain more than $3 million in pandemic relief aid, according to authorities. Frank Mosely, 58, of Oakland, along with his brother, Reginald Mosely, 60, of Sacramento, orchestrated the scheme , which saw them obtain Paycheck Protection Program loan funds by filing documents on behalf of s
Canopy Accounting
MAY 29, 2024
As the dust settles on the most intense period of the year for financial professionals, we're taking a moment to celebrate the incredible achievements of our backend systems and the team behind them during the most recent tax season. The last 30 days of the tax season have seen our operations pushed to their limits, but Canopy has not just survived; it has thrived, showcasing the robustness and efficiency of our platform.
Accounting Today
MAY 28, 2024
Intuit has been working to cater TurboTax to those with more complicated tax situations, betting that those customers could use online help from experts.
Cherry Bekaert
MAY 28, 2024
Contributors: Tony Konkol, Manager, State & Local Tax North Carolina Senate Bill No. 508 (Session Law 2024-1) was signed into law on May 15, 2024 and provides an extended July 1, 2024 due date for partnerships to make a tax year 2022 pass-through entity tax (PTET) election. House Bill No. 259 (Session Law 2023-134) was enacted on October 3, 2023, expanding eligibility for North Carolina’s PTET election.
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As a CPA, your expertise is invaluable to your clients. By partnering with Fincent, you can enhance your service offerings and streamline financial management for your clients. Our platform provides real-time financial reports, cash flow tracking, automated posting of banking transactions to reduce errors, and powerful search capabilities. With Fincent, you can focus on high-value services while we handle the day-to-day bookkeeping tasks.
CPA Practice
MAY 29, 2024
By Kathryn Pomroy, Kiplinger Consumer News Service (TNS) One in five adults ages 50-plus have no retirement savings, and more than half are worried they will not have enough money to support them in retirement, according to a new AARP survey. The study reflects concerns amid a shaky economy, high prices and an uncertain future. “Every adult in America deserves to retire with dignity and financial security.
Going Concern
MAY 31, 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.
Accounting Today
MAY 30, 2024
The Internal Revenue Service intends to expand the number of states and tax situations in which the free system will be available.
Ronika Khanna CPA,CA
MAY 27, 2024
There are three primary ways in which you, as an owner-manager , can withdraw funds from your corporation. You can: 1. Pay yourself a salary , 2. Declare or pay yourself a dividend or 3. Borrow money from the corporation. When you borrow money from your own corporation the Canada Revenue Agency (CRA) has put into place strict rules as to when you have to repay the loan to ensure that the owner-manager does not avoid paying taxes indefinitely.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.
CPA Practice
MAY 29, 2024
By Erin Bendig, Kiplinger Consumer News Service (TNS) We’re in the midst of graduation season—across the country, college grads are walking across the stage to accept their hard-earned diplomas. But after one big accomplishment comes another. Now’s the time to find a job and get serious about your finances. Not only does your degree factor into how much money you’ll make, but where you live also plays a part.
AccountingDepartment
MAY 30, 2024
Last week, AccountingDepartment.com Business Development Representative, Luke Backus, attended the Veteran Entrepreneur Training Symposium (VETS24) in Orlando, Florida.
Accounting Today
MAY 31, 2024
Plus, Bennett Thrasher launches new division; MACPA graduates 20 from 2024 Leadership Academy; and more news from across the profession.
Randal DeHart
MAY 31, 2024
In the ever-evolving world of construction, financial modeling is a game-changer. It drives intelligent decision-making, minimizes risks, and ensures the revenue health of projects. Crafting precise and insightful financial models is a valuable tool for construction companies. It offers a panoramic view of the asset landscape and enables proactive planning and strategic management.
Speaker: Gary Dmitriev
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.
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