SMBAccountant
JANUARY 5, 2024
Beyond the mere transition in dates, New Year's marks a universal opportunity for change. It can serve as a catalyst for reflection, inspiring individuals to set resolutions, for themselves and their businesses. The beginning of a new year also means a fresh start for your Income Statement; which is why now is the perfect time to review your accounting software needs.
CPA Practice
OCTOBER 17, 2024
By Mike Varney, Vice President, Finance and Operations at Extend. The alarm bells in accounting have been ringing for years: fewer people want to join – or stay – in the profession. The American Institute of Certified Public Accountants (AICPA) said in its “2023 Trends” report that the percentage of accounting graduates fell 7.8% between 2021 and 2022, after steady decreases of 1-3% since 2015-16.
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TaxConnex
SEPTEMBER 17, 2024
Getting the right sales tax on your invoice is a pivotal step in managing your sales and use tax obligation. Sales and use tax is a tax imposed on the use or consumption of a product or service and meant to be paid by the end consumer. In certain situations (when you have sales tax nexus), it is your obligation to collect and remit it. Unfortunately, this is easier said than done.
Acterys
DECEMBER 20, 2024
If the term “AI” catches your eye, it’s highly likely that ChatGPT comes to mind. And you would be absolutely correct in making that association. The launch of ChatGPT has taken the world by storm. Its success has kickstarted an AI race that has compelled almost every company to embed artificial intelligence and machine learning algorithms into their software architecture to mirror the same level of agility and productivity.
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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.
RogerRossmeisl
DECEMBER 28, 2024
Job applicants must work hard to stand out in a crowded marketplace. For some, that means bending the truth or outright lying about their experience, skills and education. According to a survey performed by resum-writing service StandOut CV, a staggering 64.2% of Americans have lied on their resum at least once. Bad hires can generate direct and indirect costs, including lost productivity, customer dissatisfaction and wasted training time.
Withum
NOVEMBER 5, 2024
A recent alert from Maryland-based cybersecurity firm Huntress highlights a concerning vulnerability for construction companies using on-premise accounting and project management software with default login credentials. According to their report last month, a brute-force attack targeted users of a major construction accounting software vendor, exposing sensitive data due to default usernames and passwords being left unchanged.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
FEBRUARY 13, 2024
To help financial leaders better understand what their peers are doing when it comes to sales and use tax in 2024, TaxConnex® conducted its fourth annual sales tax survey in November of 2023. More than 100 financial leaders from different industries and from a wide range of sizes responded. Their responses are included in the following blog. For the vast majority of organizations, managing the minutia of sales tax obligations can be described as clunky, cumbersome, and risky, with each state hav
RogerRossmeisl
FEBRUARY 4, 2024
Sometimes divorcing spouses or sparring former business partners illegally hide assets to prevent their fair division. And fraud perpetrators almost always try to hide their ill-gotten gains. In such cases, sociological information — gathered as part of a lifestyle analysis — can be almost as revealing as financial data. Here’s what forensic accountants examine when they’re on the hunt for hidden assets.
SMBAccountant
FEBRUARY 19, 2024
Understanding the basics of government contracts is essential when engaging in contractual agreements with government entities. When reviewing such contracts, key considerations include a thorough examination of the scope of work, payment terms, performance metrics, and compliance with regulations. Utilizing tools like Suppl-O contract briefs can significantly aid in the efficient review process by highlighting changes, facilitating quick reference, and ensuring transparency.
ThomsonReuters
DECEMBER 19, 2024
Jump to Automating digital asset compliance workflows What can cryptocurrency tax software do? Strategic digital asset reporting implementation for tax professionals Act now and gain a competitive edge The tax landscape is evolving rapidly, especially with the emergence of digital assets like cryptocurrencies. As part of this evolution, the IRS has introduced new digital asset reporting regulations.
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.
Basis 365
NOVEMBER 25, 2024
Whether you’re a startup or an established company, outsourced accounting can provide the financial expertise you need to grow your business. Many businesses of all sizes have been turning to outsourced accounting services as an essential part of their competitive strategy. However, making sure you have the right accounting service provider is essential.
CPA Practice
NOVEMBER 19, 2024
By Jeff Gramlich, CPA, CITP In today’s audit landscape, we’re witnessing the early stages of an AI revolution. But what happens when AI meets truly free-flowing, real-time, standardized financial data? Let’s look beyond the current buzz and explore what’s actually possible when we solve the data problem first. The missing piece: Data that flows While everyone’s talking about AI, there’s a crucial element that often gets overlooked: the quality and accessibility of the underlying data.
Accounting Seed
NOVEMBER 15, 2024
How to trust your numbers and know your business is providing a reliable picture of performance You stare at last month’s recurring revenue numbers and wonder if you can justify a major investment in new product development. But the rows and rows of data aren’t giving you what you need. For one, the report came in late, which leaves you little time for analysis.
Acterys
NOVEMBER 7, 2024
Excel is a powerful, flexible tool, but for growing companies, it’s no substitute for robust FFP&A software. The drawbacks of spreadsheets are numerous and can lead to tremendous financial losses for an organization. Take, for example, the Excel-related Value-at-Risk (VaR) model error that caused JP Morgan to lose $2 billion. The model couldn’t help the bank accurately predict potential losses, masking the true risk exposure of their synthetic credit portfolio.
Speaker: Gerald Ratigan
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.
Anders CPA
NOVEMBER 18, 2024
John Scott, Virtual CFO and Partner at Anders CPAs + Advisors, joins Hannah and Joey to discuss strategies for young accounting professionals to establish themselves as subject matter experts within their firms. They emphasize the importance of demonstrating interest in a niche, seeking mentorship, and mastering effective communication. Key takeaways include building strong client relationships, asking questions, and learning from mistakes.
Withum
DECEMBER 2, 2024
When it comes to accounting methods, businesses primarily choose between two approaches: cash basis accounting and accrual basis accounting. Understanding the key differences between cash vs. accrual accounting is essential as this decision impacts financial reporting, cash flow management and long-term planning. What Is Cash Basis Accounting? Cash basis accounting is a straightforward method in which revenue and expenses are recorded only when cash is exchanged.
Going Concern
NOVEMBER 8, 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 Insight
DECEMBER 18, 2024
Why accurate, connected financial data drives business success The growing importance of data confidence in finance Accurate, real-time financial data has become essential to making sound decisions and driving strategic growth in the economic landscape of 2024. Yet, many finance leaders face significant challenges in achieving data confidence, due to outdated processes and fragmented systems.
Speaker: Sean Yoder
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.
RogerRossmeisl
DECEMBER 15, 2024
As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax deductible can significantly affect your bottom line. Properly managing travel costs can help ensure compliance and maximize your tax savings. Your tax home Eligible taxpayers can deduct the ordinary and necessary expenses of business travel when away from their tax homes.
Nancy McClelland, LLC
NOVEMBER 27, 2024
I’m still a little confused as to how it became a thing for accounting and bookkeeping services to advertise Black Friday or Cyber Monday specials… does that feel weird to anyone else? Just me? Hmm. Regardless, there are some really good ones out there. I’ve rounded up a few that I’m most excited about, and if you decide to spend your weekend shopping online for good deals to match your career goals for the next year, consider this a shortcut.
ThomsonReuters
OCTOBER 24, 2024
← Blog home Jump to ↓ How to communicate with clients effectively What should an advisory consulting proposal include? Writing an advisory services proposal with a template An easier way to write advisory proposals The shift toward providing more higher-value advisory services continues to gain momentum as accounting firms increasingly look for ways to better serve clients, sharpen their competitive edge, and drive greater profitability.
Patriot Software
AUGUST 14, 2024
HR compliance can be a nightmare for overwhelmed small business owners. You need buttoned-up HR processes to avoid compliance-related penalties and lawsuits. This takes time—a commodity most business owners don’t have. Is it possible to streamline your HR processes to stay compliant with federal, state, and local regulations? Yes.
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
CPA Practice
NOVEMBER 12, 2024
CPA Practice Advisor has opened the nomination period for one of its most prestigious awards. The Most Powerful Women in Accounting Awards , now in their 12th year, were created by CPA Practice Advisor to promote and support the success of women leaders as part of its broader mission of sustaining the profession. There are no costs associated with nominations or award recognition.
Xero
DECEMBER 4, 2024
From January 2025, new climate reporting legislation will be introduced. It will require big businesses in Australia to track their carbon emissions and include the results in sustainability reports , which they’ll need to submit alongside their other annual reporting obligations. While this law directly targets businesses with more than 100 employees, the impact will inevitably trickle down to their suppliers, who may need to provide emissions data to them.
MyIRSRelief
NOVEMBER 1, 2024
S Corporations: Tax Preparation, Tax Planning, and the Benefits of Professional Tax Help S Corporations , often referred to as S Corps, are a popular business structure in the United States, particularly among small to medium-sized businesses. They offer a unique blend of benefits, including pass-through taxation and limited liability protection. However, navigating the tax landscape for S Corps can be complex.
inDinero Tax Tips
DECEMBER 12, 2024
It finally happened investors saw your vision, you raised a Series A, and now you have the green light to grow as quickly as possible. Now what? Or perhaps youre building an MVP and scrapping for revenue. Your idea has potential, but you have to diligently manage resources until you can raise seed funding. Regardless of where you are in your journey, cash flow management for your startup will be crucial.
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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.
Withum
NOVEMBER 21, 2024
As the year winds down, it’s essential for businesses to take a proactive approach to their year-end accounting and financial reporting processes. A well-executed year-end close process ensures that accounting records present the most accurate picture for the end user, whether it be internal management, investors or your accounting firm. Closing the books in a timely and systematic way will allow a business to wrap up the previous year and set a strong foundation for the upcoming year.
GrowthForceBlog
OCTOBER 15, 2024
7 min read October 15th, 2024 All business expenses represent money out the door, but the way you categorize these expenses has greater implications than reduced net income. Key Takeaways How to Calculate and Identify a Capital Expenditure: CapEx = (Prior Period PP&E - Current Period PP&E) + Current Period Depreciation. The Key Differences Between CapEx and OpEx: For most businesses, both capital expenditures and operational expenditures are necessary for success, and finding the right b
Accounting Insight
NOVEMBER 7, 2024
An overwhelming majority (86%) of CFOs and finance leaders feel that decisions about their organisation’s financial strategy are made without sufficient data or insight, according to a new survey by AccountsIQ , an award-winning provider of cloud-native accounting software for mid-sized businesses. The survey of 260 CFOs across the UK and Ireland highlights the increasing pressures facing finance leaders, with many reporting a growing sense of stress and instability as they navigate economic vol
Going Concern
NOVEMBER 22, 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.
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