CPA Practice
OCTOBER 23, 2023
Accounting firms know that offering only tax preparation services makes maintaining consistent cash flow and workloads throughout the year challenging. During the busy season, you’re very busy and the cash flow is nice, but after that, things slow down considerably. Adding financial services to your accounting firm can help bridge the gap and allow you to have a consistent workload year-round.
ThomsonReuters
OCTOBER 24, 2023
Jump to: Automation, AI Technology: A Time and Resource Saver Outsourcing: Scale your business and reduce your costs A flexible work model: Expand your talent pool and gain a competitive edge How to handle the shortage of staff in your accounting department Recent trends have only amplified this challenge. More tax professionals are exiting the profession than are entering it.
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Insightful Accountant
OCTOBER 23, 2023
HubSync's John McGowan discusses the challenges for navigating legacy systems in the tax and accounting landscape—and where the solutions may be.
Accounting Today
OCTOBER 23, 2023
Lots of outsiders are disrupting accounting; it's time for accountants to disrupt back.
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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.
inDinero Tax Tips
OCTOBER 21, 2023
Knowing how to keep track of business expenses is key to visualizing cash flow and maximizing tax deductions, but finding a system that is simultaneously easy, efficient, and accurate is no easy task. In this article, we’ll tell you everything you need to do to track expenses on autopilot, organize tax filings at the click of a button, and keep your most important financials front and center.
TaxConnex
OCTOBER 24, 2023
“Scary” has five letters. Know what word in sales tax also has five letters? “Audit.” Few issues in the area of tax are more terrifying than this kind of exam from a tax authority. Our third annual survey of financial professionals showed that although most companies (67%) reported that state sales tax audits have remained at the same level over the past two years, almost one in four respondents (23%) said they expect such audits to increase in coming months.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Insightful Accountant
OCTOBER 24, 2023
The Bonadio Group's Karen Webber breaks down the weak internal controls that could put your client at risk of fraud—and the warning signs you need to watch out for.
BurklandAssociates
OCTOBER 25, 2023
Welcome to the first article of a three-part series focused on helping growing startups budget and plan for success in the new year. The post Annual Financial Planning for Startups: Part-One, Preparation appeared first on Burkland.
CPA Practice
OCTOBER 23, 2023
By Richard Corn, CPA. Accounting firms are continuously innovating, developing new offerings and finding new ways to stand out in a crowded field. While many firms are (understandably) focused on securing new clients, in this competitive landscape complicated by increasing market challenges, it is as important as ever for firms to retain their existing clients as well.
RogerRossmeisl
OCTOBER 24, 2023
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for disability-related expenses.
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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.
TaxConnex
OCTOBER 26, 2023
Sales tax is a major obligation for your business. As with most such obligations, you probably ask, “Can automation help me?” In some ways, yes. Sales tax rates and taxability rules differ by state and even locality. Software that has the rates and taxability rules built-in helps make sure you charge the right sales tax with each purchase. Most sales tax calculation software today is SaaS-based (Software-as-a-Service), which often integrates with a company’s invoicing system.
Airbase
OCTOBER 25, 2023
If any finance process is overdue for innovation, it’s procurement. For decades, the many steps and stakeholders in large enterprise purchasing meant procurement teams had to rely on heavyweight, expensive solutions, while mid-market companies either had to adopt one of those overly cumbersome solutions or throw some ad-hoc procedures together to try to control spend.
Going Concern
OCTOBER 25, 2023
As you may already know the 2023 AICPA Trends report is out , here’s our earlier write-up on how many accounting degrees were completed for the 2021-22 period covered in the new report (saving you a click: it’s 65,035). Today we’re going to look at CPA exam candidate numbers. In a vacuum the 2022 numbers aren’t terrible — 30,251 new CPA candidates, 67,336 unique CPA candidates, and 18,847 CPA candidates who passed their 4th section that year.
CPA Practice
OCTOBER 24, 2023
On your mark, get set, go! The 2024 preparer tax identification number (PTIN) renewal period for the nation’s nearly 800,000 active federal tax return preparers is now underway. All current PTINs expire on Dec. 31, 2023. Anyone paid to prepare or help prepare any federal return or claim for refund must have a valid PTIN from the IRS, which they must use as the identifying number on any returns prepared.
Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius
4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor
Accounting Today
OCTOBER 26, 2023
Accountants and financial professionals are feeling less upbeat about the economy in North America in the second quarter of the year, according to a quarterly survey from the IMA and ACCA.
Airbase
OCTOBER 25, 2023
AI was a constant presence at SuiteWorld this year, whether it was the focus of the presentation itself or folded into the topic. AI even featured in the high-octane opening session with a spoof about hallucinations from Evan — NetSuite’s not-quite-ready-for-prime-time AI assistant. There were at least three sessions specifically on AI-powered solutions, plus NetSuite had an AI Center on the floor in case you wanted more information.
Going Concern
OCTOBER 23, 2023
Article image obviously generated by AI. Reported by Bloomberg last week , PwC is putting AI to work. Officially. PricewaterhouseCoopers LLP has teamed up with ChatGPT owner OpenAI to offer clients advice generated by artificial intelligence as the Big Four audit firms look to cut costs and boost productivity. [emphasis ours] The accounting firm will use AI to consult on complex matters in tax, legal and human resources, such as carrying out due diligence on companies, identifying compliance is
CPA Practice
OCTOBER 27, 2023
By Allison Arieff, MIT Technology Review (TNS) His official title is vice president of regulated reporting solutions. But really, Billy Scherba, CPA, is a carbon accountant. At Persefoni, a platform for climate management, Scherba works with companies to measure, manage, and disclose their contributions to climate change. Billy Scherba Carbon accountants help companies understand what data matters to their carbon footprint, how to collect that data in a consistent manner, and how to use it to ca
Speaker: Chandra McCormack, CPA, MBA, NACD.DC
Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.
Accounting Today
OCTOBER 25, 2023
In spite of the lack of new tax legislation so far this year, taxpayers and tax preparers have plenty to focus on in preparing 2023 returns.
Airbase
OCTOBER 23, 2023
In the world of finance and procurement, accuracy and accountability are paramount. Every organization strives to maintain a meticulous record of its financial transactions while safeguarding itself against errors and fraud. Three-way match has long been an important control measure practiced by accountants to make sure that what was purchased, what was received, and what was paid are fully aligned.
Going Concern
OCTOBER 26, 2023
On Monday afternoon an employee of Brown, Brown and Associates, an accounting firm on Main Street in Springfield, TN, decided to bring an explosive device to the office “to show around.” Actual explosives. The news didn’t say what exactly the device was, only that the man “reportedly found multiple explosives in an old house he was cleaning out and brought one of them into work to display.” “I was with a client, and a police officer came and knocked on my salon door
CPA Practice
OCTOBER 25, 2023
CPA.com, the business and technology subsidiary of the American Institute of CPAs, has added a suite of practical tools as part of its ongoing initiative to enable accounting and finance professionals to build their knowledge of generative AI and assess the opportunities and the risks of implementing the transformative technology into their practices.
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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be
Accounting Today
OCTOBER 26, 2023
The legislation incentivizes consumers to buy energy-efficient electric appliances, clean vehicles, rooftop-solar and home energy storage systems.
Insightful Accountant
OCTOBER 22, 2023
As part of security enhancements being implemented between mid-October and the end of November 2023, Chase Bank will require all QBO and QuickBooks Desktop users to reconnect their bank connections.
Anders CPA
OCTOBER 24, 2023
Startups saw a surge in seed round funding in the aftermath of the COVID-19 pandemic throughout 2021 and 2022, but accessing Series A funding rounds has proven more difficult than ever. Investor priorities have shifted and placed a new focus on profitability rather than growth. Tax partner and leader of the firm’s startup practice Dave Finklang, CPA/CGMA, MBA , examined the phenomenon in his recent article for the St.
CPA Practice
OCTOBER 25, 2023
Are you feeling generous during this holiday season? If so, you may be inclined to increase your charitable gift-giving at the end of the year. Generally, you can reap some tax rewards for your benevolence, but you must contend with several special rules. Notably, you can claim deductions for charitable donations only if you itemize instead of taking the standard deduction on your personal return.
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Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.
Accounting Today
OCTOBER 23, 2023
Bob Lewis of the Visionary Group examines the opportunities private equity firms are creating in accounting, what it will mean for your firm, and how it will play out in the future.
Insightful Accountant
OCTOBER 26, 2023
Everything comes down to marketing. Balanced Awakenings' Dr. Hannah Yang provides some insights practice owners can use to help leverage their market strategies and build momentum.
Cherry Bekaert
OCTOBER 25, 2023
After a period of relative inactivity, standard setters have issued four new standards. The Financial Accounting Standards Board (FASB) has issued Accounting Standard Update (ASU) 2023-03 through ASU 2023-06. However, three of the four ASUs pertain to SEC guidance contained in the Codification and there were no new standards issued by the Government Accounting Standards Board (GASB) this quarter.
CPA Practice
OCTOBER 23, 2023
By Bob Haegele, Bankrate.com (via TNS). As inflation lingers, the Social Security Administration (SSA) is boosting its cost of living adjustment (COLA) for benefit checks in 2024. It’s just one of many changes announced by Social Security recently. More than 71 million people depend on one of Social Security’s benefit programs, so annual changes to the program and its payouts are always highly anticipated.
Speaker: Joe Sharpe and James Carlson
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
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