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Valuing a private business requires a custom approach. One size doesn’t fit all companies, especially when it comes to the appropriate standard of value. Applying the wrong one can lead to disputes, unfavorable tax and accounting consequences, litigation exposure, and inequitable outcomes. Here’s a breakdown of the three main standards of value, including when they might apply and how a valuation professional’s analyses and assumptions might differ under each option. 1.
Accounts Payable (AP) automation is the use of technology to digitize and optimize the invoice-to-payment process within an organization. Software that automates AP can capture invoice data automatically, route bills through approval workflows, process payments electronically, and reconcile transactions—all while maintaining human oversight at key decision points.
Starting January 1, 2026, the 12th Edition of the USALI ( Uniform System of Accounts for the Lodging Industry ) will mandate several key updates to the chart of accounts for hotels, which aim to enhance transparency, data accuracy, and operational efficiency and align with the evolving needs of the hospitality industry. These changes include improved energy reporting, sustainability reporting improvements, and streamlined multi-property consolidation.
Most CFOs recognize NetSuite as a robust Enterprise Resource Planning (ERP) platform. It streamlines financial processes, enhances reporting, and supports strategic decision-making. But are you leveraging its full potential? Many of NetSuite's features remain untapped, even by seasoned finance professionals. These overlooked tools can transform your financial operations, saving time, improving accuracy, and uncovering insights you might otherwise miss.
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.
Docyt, a leader in AI-powered accounting automation, has unveiled Docyt High Precision Accounting Intelligence (HpAI), a next-generation AI engine purpose-built to automate complex accounting workflows with unmatched precision.
Estimating a company’s value requires more than just reading its income statement or balance sheet. Valuation professionals look beyond historical results to assess future potential. To do that, your expert may make targeted financial statement adjustments to more accurately reflect the economic reality of the business. Here are four types of adjustments valuators may consider: Nonrecurring adjustments.
Estimating a company’s value requires more than just reading its income statement or balance sheet. Valuation professionals look beyond historical results to assess future potential. To do that, your expert may make targeted financial statement adjustments to more accurately reflect the economic reality of the business. Here are four types of adjustments valuators may consider: Nonrecurring adjustments.
The seventh edition of Accountex Summit Manchester is taking place on 23 September at Manchester Central. The 30+ session CPD accredited education programme has just been released, with sessions covering everything from anti money-laundering and AI accounting to tax issues for SMEs and compliance. With HMRC’s Making Tax Digital for Income Tax Self-Assessment deadline set for 6 April 2026, there are sessions covering every aspect of it, from an MTD playbook to HMRC’s digital future.
The company’s new Generative AI addresses the remaining 20% - the “last mile” of the accounting process - reducing or eliminating human interaction to an almost nonexistent level.
With the passage of the One Big Beautiful Bill Act on July 4, 2025, Congress made long-awaited and significant updates to the federal Form 1099 information reporting rules. These changes adjust long-standing reporting thresholds and reduce paperwork for businesses. Here’s what’s new, how it compares to the old rules and why it’s a win for your business.
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.
It seems that most people would rather hear inaccurate advice that makes them feel good rather than accurate advice they don’t like. And that seems to hold regarding sales tax, a constantly changing yet critical business process. We keep hearing so many stubborn misconceptions and myths about sales tax. Companies that believe those without doing their homework risk a hard path of non-compliance, back-tax payments, interests and penalties.
If you’re claiming deductions for business meals or vehicle expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions and errors in taxpayers’ records, as illustrated by one recent U.S.
Outsourcing finance and accounting can bring significant benefits to small businesses – streamlining operations, improving accuracy, and freeing up time for growth. However, without proper planning, it can lead to costly errors. Here are five key mistakes to avoid in 2025 and how to stay on track: 1. Choosing Based on Price, Not Experience Opting for the cheapest provider may seem appealing, especially for startups.
William Arthur Clawson—who defrauded clients by using their cash payments, which were intended to pay their income taxes, for his own personal expenses—was given a 24-month prison sentence on July 31.
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.
As businesses evaluate capital investments in production facilities, understanding the tax implications is crucial. A key opportunity introduced by the One Big Beautiful Bill Act (OBBBA) is the 100% bonus depreciation allowance for Qualified Production Property (QPP). This provision allows businesses to immediately deduct the cost of real property in the year it is placed in service, provided it meets specific criteria.
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.
The One, Big, Beautiful Bill Act (OBBBA) was signed into law on July 4. The new law includes a number of favorable changes that will affect small business taxpayers, and some unfavorable changes too. Here’s a quick summary of some of the most important provisions. First-year bonus depreciation The OBBBA permanently restores the 100% first-year depreciation deduction for eligible assets acquired after January 19, 2025.
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.
With compliance pressure rising and manual processes prone to error, finance leaders need more than spreadsheets to stay in control. When finance teams can’t trust their data, every move feels like a risk. Inaccurate reports, poor forecasting and misinformed decisions can all undermine an organisation’s stability. In 2025, these challenges are being compounded as HMRC ramps up its scrutiny of audits and compliance.
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It is common for developers of condominium projects to sell units prior to the completion of construction. Usually, the purchaser of the condominium secures the purchase with a deposit that is subject to forfeiture if the purchaser defaults. The amount of the deposit depends upon market conditions. There is uncertainty in determining when the deposit is included in the taxable income of the condo developer.
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
AI has transformed various industries over the past few years, and accounting is no exception. Accountants use AI in many online activities, including emails, payments, and making important decisions.
Several provisions of the One, Big, Beautiful Bill Act (OBBBA) — enacted on July 4, 2025 — alter the tax rules for businesses. The new law generally extends and expands many provisions of the Tax Cuts and Jobs Act of 2018 (TCJA). If Congress hadn’t passed the OBBBA, many temporary TCJA provisions would have expired. Not all the OBBBA changes are favorable to business owners, and the effects of the new law will vary from business to business.
Karbon for Clients gives firms and clients a single place to manage tasks, documents, and messages, reducing admin work and improving firm-client collaboration. Karbon , the leader in accounting practice management software, today announced the global launch of Karbon for Clients , a secure, modern client portal designed to help accounting professionals streamline collaboration, accelerate response times, and reduce administrative burden.
Global indirect tax challenges Indirect tax professionals in multinational corporations know one thing for certain: change is constant, and the demands on tax teams are growing. Over the past two years, tax professionals have faced persistent challenges—regulatory pressures, technology shifts, and resource constraints—while charting a bold course toward innovation and resilience. 2024 and 2025 survey data from several Thomson Reuters Institute reports for indirect tax professionals provide an in
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.
The latest NetSuite 2025.2 release brings a wave of enhancements designed to streamline operations, improve user experience and ensure compliance across industries. NetSuite typically begins rolling out each release over several weeks; for the 2025.2 update, customers can expect provisioning to begin in late August and continue through September, though exact timing may vary by account.
The One, Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement. Beginning with payments made in 2026, the new law raises the threshold for information reporting on certain business payments from $600 to $2,000. Beginning in 2027, the threshold amount will be adjusted for inflation. The current requirement: $600 threshold For decades, the IRS has required that businesses file Form 1099-NEC (previously 1099-MISC) for payments made to independent contractors that e
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.
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