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When you first launched your business, doing the books yourself (or having a friend or family member pitch in) probably seemed like a cost-saving no-brainer. But as your business grows, so does the complexity of your finances — and the stakes. Suddenly, managing your books takes more time, you’re second-guessing financial decisions, or worse, worrying about compliance mistakes.
Discover the important accounting roles you need to grow your firm across different stages. The post The Accounting Roles You Need to Grow a Firm appeared first on Future Firm.
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes?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.
An experienced accountant recently said to me: “I’m not boring, but my firm looks as if it is – does that matter?” My honest answer? In classic accountancy style: “It depends…” Even if you’re the face of your firm and are out meeting clients, networking, building your reputation, then yes, this does still matter. Because even if you are engaging and memorable, most people will still look you and your firm up online.
Technological advances can as easily open the door to fraud as shut it. Case in point: Although significant improvements have been made to generative artificial intelligence’s (GenAI’s) document generation capabilities, such upgrades have generally made fraud easier to perpetrate. Here’s how your business can prevent and detect GenAI document fraud attempts by rogue employees.
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Search for: Home About Us Log In Subscribe for Free My Account Log Out Accounting & Auditing Accounting ESG Financial Reporting Nonprofit Small Business Auditing Audit Standards PCAOB SEC Tax Taxes Income Tax IRS Legislation Sales Tax State Local Taxes Tax Planning Payroll Payroll Benefits Human Resources Payroll Software Payroll Taxes Tech Technology Artificial Intelligence Automation Cloud Technology Digital Currency Hardware Security Software Advisory Advisory CAS Financial Planning Risk
This story was mentioned in the Monday Morning Accounting News Brief , published every Monday before noon. We felt it deserves its own post as well. Last week Bloomberg ran a story about how PwC “ has cut prices for some services as clients raised the fact that the consultancy is using artificial intelligence to complete its work quicker. ” In other words, clients saw PwC bragging about how AI is eliminating human billable hours and wanted their cut.
Family law cases involving complex financial issues often require the assistance of a financial expert for the following issues: Preparing a financial disclosure, including creating a marital balance sheet Comparing balance sheets from period-to-period to evaluate changes in assets and liabilities Analyzing financial disclosures or affidavits prepared by the spouses Calculating the historical income of [.
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.
Closing your books is more than just an accounting formality—it’s a safeguard for your business’s financial integrity. For many early-stage tech companies, where growth is rapid and every transaction counts, ensuring that your records remain unaltered once finalized is crucial for accurate reporting and decision-making. In this post, we discuss why it’s essential to secure closed books with passcodes, the risks associated with making unapproved changes to prior periods, and best practices for ha
The changes announced in the Spring Statement, tighter HMRC checks and rising costs demand faster, smarter finance tools The Spring Statement introduced significant fiscal changes for UK businesses. The net result is that UK finance leaders are now facing mounting pressure to adapt – and quickly. Already grappling with rising wage demands and increased National Insurance contributions, UK businesses are being squeezed with rising inflation, which is hitting labour-heavy sectors like manufacturin
In this episode of Canopy Practice Success , KC Brothers hosts Shannon Vincent and Colin Dunn—co-founders of Renew Group—to explore the broken business model that plagues many accounting firms. Drawing from decades of experience in public accounting and advisory, Shannon and Colin discuss how traditional firms are often bogged down by the wrong clients, outdated pricing structures, and unsustainable workloads.
With the House passing the Senate version of the One Big Beautiful Bill on July 3, the President is expected to sign the bill into law on July 4 at 5:00 PM EST. The House passed the bill with a party-line vote of 219 to 213, with only two Republican representatives, Reps. Thomas Massie of Kentucky and Brian Fitzpatrick of Pennsylvania, voting with the Democrats.
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.
The tax and accounting profession is at a crossroads. Relentless deadlines, persistent talent shortages, escalating client expectations, and a continuously shifting and complex regulatory landscape are prompting professionals to search for sustainable ways to stay competitive. The traditional approaches that built successful practices are increasingly insufficient for meeting a pace of change that shows no signs of slowing Enter agentic AI, a technology that has already moved from “nice to
We think this was first spotted by Financial Times so h/t to them. Gigantic UK-based energy company Shell announced yesterday it will be updating its 2023 and 2024 Form 20-Fs “due to EY non-compliance with audit partner rotation rules” after EY UK told them they’d discovered a small audit partner rotation issue for those years. Said the news release put out by Shell : On July 1, 2025, EY, Shell plc’s independent registered public accounting firm, advised the Audit and Risk Comm
The latest update introduces generative AI document summarization and a new dynamic tools directory, enabling users to uncover insights faster, reduce research time, and make more confident decisions.
As a law firm partner, effective tax planning is crucial to maximizing your financial efficiency and ensuring compliance with ever-evolving tax laws. Here are some key strategies, common pitfalls, and tips for optimizing income timing to help you navigate your tax obligations successfully. Tax Strategies for Law Firm Partners Choose the Right Business Structure: Selecting the appropriate business structure, such as an S corporation or a professional corporation (PC), can help reduce self-employm
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
As artificial intelligence (AI) continues to transform industries, payroll is emerging as a key area ripe for innovation. Yutaka Takagi, Principal Product Evangelist at isolved, believes AI is not just a futuristic concept for payroll — it’s already reshaping how companies process pay, ensure compliance, and enhance employee experience. In a recent interview, Takagi shared insights into how AI is being integrated into payroll systems, the strategic advantages it offers, and the challenges
How do you investigate fraud in a cash business? It is difficult because cash leaves no paper trail. But Tracy Coenen has some techniques she uses to try to uncover unreported cash sales. She gives examples including restaurants and laundromats. Tracy mentions some of the things she analyzes like credit payroll records, equipment purchases, and [.
“Made in America” is back in the headlines. Tariff talk and hard lessons of supply chains during the pandemic are driving new interest in basing manufacturing operations in the United States. Covid exposed the vulnerabilities of traditional global supply chains, and experts expect reshoring (bringing manufacturing back to the U.S.) to become more common soon.
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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Introducing Paul Barnes, Managing Director at MAP, The Digital Agency Finance Function. How did you get into the world of finance? I graduated from university in Manchester in 2008 with an Accounting and Finance degree. I went on to work for 3 firms over the next five years, before setting up my own firm. What’s the best part of your job? I really enjoy seeing young people develop into mature professionals.
I don’t know about you, but there’s something about July 4th that gets me into the entrepreneurial spirit. You fire up the grill, wave off work for a day, and you’re reminded of WHY you started a business in the first place: freedom. And while you’re busy prepping your cookout menu and checking the propane, Washington’s busy too (and not just with party planning).
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.
Receiving notice that you are being audited by the IRS is stressful, but losing an IRS audit that you should have won is far worse. That’s what happened to the Shleifers. They made procedural errors in their refund claim and subsequent audit that later prevented them from asserting a valid argument in court. The mistake – they failed to comply with an esoteric tax rule known as the variance doctrine.
Menzies LLP - A leading chartered accountancy firm. The Financial Reporting Council (FRC) has announced significant amendments to FRS 102, the UK’s principal accounting standard for small and medium-sized entities. These changes, effective for periods beginning on or after 1 January 2026, aim to align UK GAAP more closely with international standards such as IFRS 15 (Revenue) and IFRS 16 (Leases).
Search for: Home About Us Log In Subscribe for Free My Account Log Out Accounting & Auditing Accounting ESG Financial Reporting Nonprofit Small Business Auditing Audit Standards PCAOB SEC Tax Taxes Income Tax IRS Legislation Sales Tax State Local Taxes Tax Planning Payroll Payroll Benefits Human Resources Payroll Software Payroll Taxes Tech Technology Artificial Intelligence Automation Cloud Technology Digital Currency Hardware Security Software Advisory Advisory CAS Financial Planning Risk
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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