AccountingDepartment
OCTOBER 8, 2024
Budgeting is crucial for any business that wants to succeed in the long term. As a business owner of a small to medium-sized business, you may have experienced the challenges of creating and implementing a budget.
Canopy Accounting
OCTOBER 9, 2024
Accounting firms have a unique relationship with their clients, including their fiscal responsibilities and dedication to accuracy and transparency in their work. But, providing excellent service also comes with the challenge of managing client needs, individualized preferences, and their widely diverse business structures.
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CPA Practice
OCTOBER 9, 2024
By Amanda Tickel. The administration of tax is undergoing a significant transformation, driven by the rapid digitalization of processes and the integration of advanced technologies such as Generative Artificial Intelligence (GenAI). This evolution is not just a fleeting trend but a critical long-term priority for tax authorities and businesses alike.
Accounting Today
OCTOBER 7, 2024
The Center for Audit Quality and the Anti-Fraud Collaboration released a new publication on the role of the auditor in assessing and responding to fraud risk.
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
RogerRossmeisl
OCTOBER 6, 2024
Businesses face uncertain conditions today, including geopolitical and cybersecurity risks, inflation concerns, environmental issues, and a lack of clarity about future tax laws and interest rates. Here’s an overview of how business valuation professionals factor these kinds of issues into their value conclusions. Market analysis Before crunching the numbers, valuators must fully understand the market conditions in which the subject company currently operates.
Accounting Today
OCTOBER 8, 2024
A survey of internal audit and IT leaders found that while they identity AI as a growing technology risk, they have the least confidence in their ability to evaluate and handle its risks versus other technologies.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
OCTOBER 10, 2024
The Governmental Accounting Standards Board is considering changes in the financial reporting rules for infrastructure assets and is looking for feedback.
Accounting Today
OCTOBER 7, 2024
Communications between you and your clients can contain sensitive information that neither of you would want distributed to others.
Going Concern
OCTOBER 8, 2024
Another small accounting firm has reported a data breach involving the protected health information of a whole lotta people. On October 7, Dohman, Akerlund & Eddy, LLC (or DA&E as we’ll refer to them for the remainder of this article) of Aurora, Nebraska sent out letters to 82,207 people whose data — including name, address, date of birth, Social Security number, medical treatment/diagnosis information, dates of service, health insurance provider name, health insurance claim
Acterys
OCTOBER 11, 2024
Acterys has been named a Champion in the 2024 Enterprise Performance Management (EPM) Quadrant by SoftwareReviews. For the second consecutive year, Acterys has been voted into the top spot by its customers. Each year, SoftwareReviews presents the Data Quadrant Awards to top-performing software products based solely on authentic user reviews, without any paid placements or analyst opinions.
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MyIRSRelief
OCTOBER 11, 2024
Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S. Department of the Treasury to represent taxpayers before the Internal Revenue Service (IRS) for tax issues including audits, collections, and appeals.
ThomsonReuters
OCTOBER 11, 2024
Jump to ↓ Why tax season resources matter How to make the most of these resources Tax season success starts here Tax season is here, and with it comes the familiar rush of deadlines, complex returns, and endless questions from clients. You know the drill all too well. But what if you had a comprehensive place with tools, guides, and expertise to help you navigate the chaos and stay ahead of the curve?
RogerRossmeisl
OCTOBER 6, 2024
Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply, and if so, what must you do? Here are some answers to questions you may have.
Going Concern
OCTOBER 11, 2024
PE Hub is reporting that according to three sources, CohnReznick is in talks with William Blair — the Patty Stanger of private equity investments — to “gauge new capital sources of investment” in the next few months. CohnReznick has $150 million of EBITDA, they said. The firm is currently sitting at #16 on the INSIDE Public Accounting Top 100 with $1,052,365,413 in revenue.
Advertiser: Paycor
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Summit CPA
OCTOBER 10, 2024
Every year there are thousands of investigations launched by the IRS in their fraud prevention campaign. IRS criminal investigations during the 2023 tax filing year identified potentially $37.1 billion in tax fraud and the conviction rate was 88.4%. While these statistics might make business owners like you sweat a bit, the IRS knows that not everyone is out to commit fraud and that mistakes can happen to anyone.
Randal DeHart
OCTOBER 11, 2024
External factors, such as economic changes or technological advances, can significantly impact whether a business will thrive or fail. The rise of sharing and gig economy apps is an excellent example. These apps gave consumers more affordable options for daily tasks and errands and provided individuals with a new way to earn money on their schedules.
BurklandAssociates
OCTOBER 9, 2024
California’s new tax laws limit NOL deductions and tax credits for startups, raising potential tax burdens. Here’s what founders need to know to stay ahead. The post Significant Tax Changes for California Startups Beginning in Tax Year 2024 appeared first on Burkland.
Going Concern
OCTOBER 10, 2024
In a post published on October 7th by Montclair State University titled “ Top 5 Reasons to Transition to an Accounting Career ” that can be best described as a thinly veiled advertisement for their Master’s program, the university explains “why making the leap into accounting might be the best move you ever make.” This should be good.
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.
RogerRossmeisl
OCTOBER 6, 2024
The recent drop in interest rates has created a buzz in the real estate market. Potential homebuyers may now have an opportunity to attain their dreams of purchasing property. “The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” said National Association of Realtors Chief Economist Lawrence Yun.
CPA Practice
OCTOBER 8, 2024
According to a new report from top six accounting firm BDO USA, company finance leaders are expecting technology like artificial intelligence to be used by their external auditors now to enhance their audit engagement and consider it the second-most important factor when choosing an audit firm. In fact, according to the inaugural 2024 BDO Audit Innovation Survey , released on Oct. 7, the ability to leverage new technologies was a slightly more important factor that influences audit firm selecti
Withum
OCTOBER 10, 2024
In today’s rapidly evolving digital landscape, organizations are constantly seeking innovative solutions to streamline operations, enhance productivity and drive growth. As a consultant for Withum, a Microsoft Partner, I have witnessed firsthand the transformative power of Microsoft Copilot for business and Copilot Studio chatbots in achieving these goals.
Going Concern
OCTOBER 10, 2024
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Accounting Today
OCTOBER 9, 2024
To help build the accounting pipeline, the Big Four firm is publicly supporting other ways to earn a license.
CPA Practice
OCTOBER 11, 2024
Mergers and acquisitions (M&A) activity in the accounting profession has been vigorous in the past year and all signs point to that trend continuing—especially if the Federal Reserve lowers interest rates over the next few months. Whether you are on the buyer or seller end and whether the transaction is driven by a desire to grow your market share, develop your team, or offer more specialized expertise, you want both sides to operate seamlessly from day one.
Acterys
OCTOBER 8, 2024
Grappling with rising labor costs, ongoing talent shortages, and the increased complexity of aligning human capital investments with business goals? You need HR strategy and workforce planning systems that support a more strategic, data-driven approach. Only one-third of HR leaders feel confident in their organization’s ability to effectively use data in the workforce planning process, according to Gartner.
Going Concern
OCTOBER 11, 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.
Speaker: Mark Gilham, FCCA, CPP
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
Accounting Today
OCTOBER 9, 2024
Disagreements with the IRS, while business as usual for CPAs, can be terrifying to the taxpayer.
CPA Practice
OCTOBER 8, 2024
As the rapid adoption of artificial intelligence (AI) transforms industries, organizations are becoming increasingly aware of the elevated risks it brings—particularly in the areas of cybersecurity and data privacy. The 12th Annual Global Technology Audit Risks Survey by Protiviti and The Institute of Internal Auditors (IIA) highlights how AI is reshaping the perception of existing risks, with 59% of IT audit leaders identifying AI as a significant threat over the next two to three years.
TaxConnex
OCTOBER 8, 2024
Search engines have conditioned all of us to find what we need to know with a few clicks. But not all search engines – or state tax websites – are created equal. What it’s like typing “sales tax” into that little rectangle with the magnifying glass on each state’s website? Which states are up front from the first click with what you need and who seems to almost delight in hiding their information?
Withum
OCTOBER 11, 2024
Effective July 2019, the AICPA Auditing Standards Board issued the Statement on Auditing Standards (SAS) No. 136, Forming an Opinion on Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. The SAS works on enhancing the reporting requirements for the audit and changes the form and content of the auditor’s report, therefore upgrading the name of a limited scope vs. full scope audit to the newly named ERISA 103(a)(3)(c) audit and ERISA non 103(a)(3)(C) audit.
Advertiser: Paycor
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