Wed.Jan 15, 2025

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Lessons from the Bench Shutdown: How to Safeguard Your Business’s Financial Data

Accounting Department

When an accounting service provider unexpectedly closes, businesses may find themselves in a rush to retrieve their financial data and maintain operations. The recent closure of a major accounting platform highlights the essential need for businesses to protect their financial information proactively.

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Is it time to start your own firm?

Accounting Today

Whether you should hang out your shingle as an accountant depends on the answers to a number of questions.

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Xero wins IDC 2024 SaaS CSAT Award for Finance

Xero

We’re thrilled to share some exciting news! Xero has just been awarded the IDC 2024 SaaS CSAT Award for Finance. Xero placed in the highest scoring group for vendors serving the financial application market. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets.

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SEC chief accountant to retire

Accounting Today

The Securities and Exchange Commission's chief accountant, Paul Munter, plans to retire from federal service this month.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Mastering Cash Flow Management: Essential Accounting Tips

Nolan Accounting Center

Cash flow is frequently described as the lifeblood of business, and positive cash flow is critical to the success of every business. Cash flow management is an especially vital practice for every small business owner. As Nick Chandi, ForwardAI CEO, stated, The more a business owner knows about their cash flow, the more empowered they become. Author Robert Kiyosaki added, Making more money will not solve your problems if cash flow management is your problem.

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IRS proposes regs for corporate splits, reorgs

Accounting Today

The IRS and the Treasury Department issued proposed regs and reporting requirements for multi-year corporate separations and a draft form.

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KLR merges in Sullivan Bille

Accounting Today

KLR, a Top 100 Firm based in Boston, has added Sullivan Bille P.C., based in Andover, Massachusetts.

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Navigating the Latest Changes in Singapore’s Company Incorporation Laws for 2025

Counto

Navigating the Latest Changes in Singapore’s Company Incorporation Laws for 2025 As we approach 2025, entrepreneurs and small business owners in Singapore must stay informed about regulatory changes that could impact their company incorporation process. The legal landscape is continually evolving, and understanding these updates can help business owners avoid compliance pitfalls and ensure their businesses are set up for long-term success.

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Tax automation tools top firms' wishlists

Accounting Today

A survey from Wolters Kluwer found that accounting firms are planning major tech investments in 2025.

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The Questionable Certification Behind IRS Commissioner Nominee Billy Long

Blake Oliver

$4,997 for a three-day seminar - that's all it takes to become a " Certified Tax and Business Advisor " like IRS Commissioner Nominee Billy Long. As we discussed on The Accounting Podcast , this credential comes from a company called Excel Empire. The certification's promotional video isn't even aimed at tax professionalsit's marketed to insurance agents looking to "differentiate themselves from over 1 million other United States insurance agents.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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AI implementation at firms grows 34% in a year

Accounting Today

A recent survey from Wolters Kluwer found that implementation of AI search and productivity tools at firms went from 1% in 2023 to 35% in 2024.

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The Future of BillPay Payment Security in Singapore 

Counto

The Future of BillPay Payment Security in Singapore As Singapore’s digital economy expands, SME owners face increasing challenges in securing their billpay processes. Recent data from the Cyber Security Agency of Singapore (CSA) highlights the growing sophistication of payment-related cybercrimes, making robust security measures not just advantageous but essential for business continuity.

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QB on Amazon, and other tech stories you may have missed

Accounting Today

1-800Accountant and LegalZoom teamed up, accounts payable's AI-empowered glow-up, and other tech developments from the past month.

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Avoid Common Invoicing Mistakes in Taxation for Global Transactions

Invoicera

“Like mothers, taxes are often misunderstood, but seldom forgotten.” Lord Bramwell. This quote rings especially true when it comes to global invoice taxation. Taxes, while an unavoidable part of business, often leave companies tangled in confusion. A recent 2024 survey of over 1,000 global tax and finance executives revealed that 37% struggle to keep up with rapidly changing tax laws across different countries.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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IESBA plans standards for firm culture, governance

Accounting Today

The International Ethics Standards Board for Accountants plans a standard-setting project on accounting firm culture and governance in response to a new report.

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Leveraging Subscription Models: A Smart Strategy for Small Business Growth

Counto

Leveraging Subscription Models: A Smart Strategy for Small Business Growth In recent years, subscription-based business models have gained traction across various industries. These models provide businesses with a way to generate predictable, recurring revenue, improve customer retention, and foster long-term relationships. For small businesses in Singapore, adopting a subscription model, along with a streamlined company incorporation process, could unlock numerous growth opportunities.

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AICPA updates digital assets practice aid

Accounting Today

The American Institute of CPAs updated its aid on accounting for and auditing digital assets in response to changes in accounting standards.

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Work Smarter This Tax Season: Strategies for Remote Accounting Success

accountingfly

For tax accountants, January marks the start of the busiest and most critical time of the year: tax season. Traditionally, this has meant long hours at the office, in-person client meetings, and a flurry of paper files and spreadsheets. But as the accounting profession evolves, so does the way tax season is managed. One of the most significant shifts?

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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IRS Advisory Council names 18 new members

Accounting Today

The newly appointed council members will serve three-year terms.

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Dark Horse CPAs is Reinventing the Accounting Firm Model

Blake Oliver

The model for ownership in accounting firms is undergoing a transformation. Firms that offer alternatives to the standard partner track see dramatically better retention and employee satisfaction. Dark Horse CPAs has created a solution - their Principal Accelerator Program lets CPAs build their own book of business without the usual sacrifices. Their principals typically earn 40-50% of revenue versus the industry standard 33%.

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Navigating the accounting technology landscape in 2025

Accounting Today

The accounting profession is on the brink of a significant evolution, driven by technological innovation, regulatory shifts and demands for transparency.

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Top 10 Benefits of Using Online Accounting Software for Small Businesses

Outsourced Bookeeping

Managing finances effectively is a cornerstone of establishing a successful small business. The advancement in technology has significantly altered the way accounts are maintained in the contemporary business environment. Spreadsheets and paper-based recording systems are time-consuming and error-prone. Enter online accounting software , a game-changer that simplifies bookkeeping, enhances accuracy, and streamlines financial management.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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FTC says CVS, Cigna and UnitedHealth abuse middleman role

Accounting Today

The companies brought in more than $7.3 billion in "excess" revenue over six years, the Federal Trade Commission said in a report on the drug middlemen.

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Atlas Salt spices up Project Management with Oracle Solutions

Insightful Accountant

North American mineral development company "Atlas Salt" has taken their project, information management and financial efficiency to the next level with Oracle Primavera Cloud, Aconex, and NetSuite.

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Developing a growth mindset culture

Accounting Today

These nine steps can help you transform your firm's culture by starting with small, intentional changes that challenge fixed thinking patterns.

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Input Needed: ProAdvisor 'Inventory/Manufacturing' App Survey

Insightful Accountant

Insightful Accountant needs your help updating ProAdvisor preferences for Inventory/Manufacturing Apps working with QuickBooks. Please answer this short survey.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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5 Steps to Delegate More at Your Firm

Future Firm

Learn how to delegate the right way so you can hand off tasks you dont enjoy, free up your time, and focus on what matters most. The post 5 Steps to Delegate More at Your Firm appeared first on Future Firm.

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How to Intuit Enterprise Suite: Dimensionalization

Insightful Accountant

Murph takes you through the steps to 'Dimensionalize' your accounting using Intuit Enterprise Suite.

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Why Accuracy and Timeliness Matter in Payroll

Counto

Why Accuracy and Timeliness Matter in Payroll For small businesses in Singapore, managing payroll effectively is critical to ensuring smooth operations and maintaining a satisfied workforce. Payroll processing isn’t just about paying employees on time; its also about ensuring that all payments are accurate and compliant with regulations. Effective payroll management, as part of your broader accounting services , is key to achieving this.

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Key Changes Coming to Circular 230: What Tax Preparers Need to Know

Insightful Accountant

The Treasury Department and IRS are proposing significant amendments to Circular 230, marking the most substantial changes since 2014. Here's what you need to know.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.