Thu.Jun 13, 2024

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Accounting Today accepting 2024 MP Elite submissions

Accounting Today

The annual list recognizes top leaders from accounting firms across the country.

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Navigating DCAA Accounting: A Comprehensive Guide for Government Contractors

Accounting Department

When it comes to compliance with government regulations, navigating the intricacies and nuances of DCAA accounting is essential for any government contractor. DCAA stands for Defense Contract Audit Agency, a branch of the Department of Defense that is tasked with auditing and evaluating proposal and contract costs for the government.

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Tax scams are targeting seniors

Accounting Today

In advance of World Elder Abuse Awareness Day, the Internal Revenue Service is highlighting how criminals target older citizens.

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2025 ProAdvisor Awards Prep: Traits of a Top ProAdvisor

Insightful Accountant

The 2025 ProAdvisor Awards process will launch earlier than ever, so I can think of nothing to help motivate and prepare you than Matt Fulton's article setting forth the "right stuff" to becoming the 'Best of the Best.

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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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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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CTA opens door to new kinds of scams

Accounting Today

The Corporate Transparency Act, ostensibly meant to address scams and other crimes, has ironically opened the door to new kinds of scams directed at small-business owners.

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Hitting $800K in Year 1, Building Culture, and more w/ Randy Crabtree

Jetpack Workflow

Podcast Summary In this episode of Growing Your Firm, host David Cristello interviews Randy Crabtree , a top influencer in the accounting industry. Randy, co-founder of Tri-Merit , discusses R&D, tax credits, and cost segregation, sharing insights on the success of his firm. Tune in for a valuable conversation on creating a culture of value and importance in the workplace.

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How to Tackle Procure-to-Pay Challenges: Key Strategies for Success?

Outsourced Bookeeping

Are you searching for ways to overcome P2P challenges ? Well, your search ends here! It is essential to note that every business firm faces difficulties with Procure-to-Pay activities. From poor processes in procurement to uncontrolled spending, or supplier relations management, organizations must master the Procure-to-Pay process. In this article, we will explore several important ways to overcome P2P challenges and enhance procurement and payment operations.

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Growth challenges for CPA firms

Accounting Today

These eight hurdles stand between you and a thriving accounting practice — and they can all be overcome.

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Proposed Cannabis Rescheduling: Tax Implications and the Need for IRS Guidance

Insightful Accountant

The cannabis industry anticipates a major change with the DEA's expected rescheduling of cannabis from Schedule I to Schedule III. This shift could have significant tax implications for businesses, potentially impacting IRC section 280E.

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Tax Strategy: Continuing uncertainty over IRS authority to assess certain penalties

Accounting Today

The Tax Court approach in a recent case may produce a split among the circuit courts, and the Supreme Court may take a case to resolve the split.

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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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Will Intuit Go Red in the 2024 Election?

Cloud Accounting Podcast

Blake and David get brutally honest about why pricey accounting conferences are a no-go and how the industry sidelines neurodivergent professionals. You'll also get a rundown of the rebranded Intuit Connect event's new direction, the political firestorm around IRS Direct File, and a Google Sheets update that will blow your mind. From the mailbag, don't miss one reader's incredible story of passing the CPA exam in record time and our take on why firms need to rethink degree requirements.

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Ditch the hourly grind: Unlock the power of value pricing

Accounting Today

Charge your clients based on the outcomes you achieve for them, not your inputs.

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The Essentials of Bookkeeping For Nonprofits

Remote Quality Bookkeeping

Nonprofit organizations drive positive change through charity drives, volunteerism, and other heroic efforts. Yet, the financial hurdles these organizations navigate often go unnoticed, especially to those outside of the organization. Unfortunately, even skilled bookkeepers aren’t fully familiar with the rules and regulations the nonprofit sector must follow.

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Most-read mortgage news you might have missed

Accounting Today

From updates in mortgage-related court cases, to developments in AI and policy, here are the most-read stories from National Mortgage News over the past week.

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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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Improve Operational Flexibility with Automatic AP Software

NextProcess

In the modern business world, operational flexibility is more than a luxury—it’s a necessity. In the accounts payable (AP) department, offering flexible payment options, enabling employees to work from a variety of locations, and the ability to adapt to internal or external changes can make a huge difference to the success of your company. And that means the sooner you switch to an automatic AP system the better.

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PCAOB updates strengthen auditor accountability

Accounting Today

The Public Company Accounting Oversight Board's amendments will make it easier to hold auditors accountable for violations, among other things.

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Jun 13, FLSA vs IRS Independent Contractor Rules

Bookkeeping Essentials

The DOL and the IRS have frameworks to determine whether an individual is an employee or an independent contractor, but they serve different purposes.

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Due dates for W. Va., Kentucky storm victims pushed to Nov. 1

Accounting Today

The Internal Revenue Service is postponing both filing and payment deadlines.

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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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Best Reconciliation Software

Nanonets

Best Reconciliation Software Tools Reconciliation software is a tool specifically designed to compare financial data from different sources such as invoices, bank statements, general ledgers, and other financial records. Financial teams often face challenges while performing reconciliations internally, as it involves a significant amount of manual work.

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Businesses In The News - Near and Far

Insightful Accountant

We've got some business news for you from around the world.

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Top Remote Accounting Candidates for Hire | June 13, 2024

accountingfly

Top Remote Accounting Candidates This Week Looking for remote accountants? Accountingfly can help! With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accounting candidates with no upfront cost. These are just a few of our top candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

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What is Source to Pay? Process, Steps, Automation

Nanonets

If you run an office supply store and need to stock up on notebooks, you'll aim to find the best quality notebooks at the most affordable price in bulk. This involves researching various notebook suppliers, comparing costs, evaluating product quality, and deciding which supplier to choose.  When completing these actions, you’re starting the source to pay (S2P) process , which is something every business goes through when working with suppliers.

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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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8 Most Common IT Issues QuickBooks Users Get Stuck With

Ace Cloud Hosting

In today’s digital age, accounting and bookkeeping have become more manageable than ever, thanks to technological advancement. QuickBooks is one such software that has revolutionized the accounting and bookkeeping industry.

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GCP’s CUDs vs SUDs – Comparing Savings on Discounts Pricing

Economize

When it comes to managing cloud costs, Google Cloud Platform’s pricing models can seem a bit complex. GCP offers two strategic pricing models to help with this: Committed Use Discounts (GCP CUD) and Sustained Use Discounts (GCP SUD). Each model can accommodate different types of cloud usage and budgetary constraints.

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Benefits of Using Automated Payment Systems

oAppsNet

Maintaining efficient and secure financial transactions is crucial for business success in today’s digital era. Automated payment systems are pivotal in enhancing transaction efficiency, reducing costs, and improving customer satisfaction. Let’s examine each of these systems’ multifaceted benefits for businesses in detail. 1. Increased Efficiency Automated payment systems streamline the transaction process, significantly reducing the time and labor traditionally required to man

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What Is the Accounts Receivable Process?

Gaviti

Many businesses rely on manual spreadsheets to manage their accounts receivables process, often with each individual collector only having information about his or her own accounts. This makes the process cumbersome, prone to human errors and challenging when collaboration is necessary between different collections agents, A/R roles or departments within your business.

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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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Companies aren't ready for CSRD reporting but say they will be

Accounting Today

Sixty-three percent of companies say they will be ready to report under the EU's Corporate Sustainability Reporting Directive, but many don't know how, a new PwC survey says.

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Intuit to Acquire Technology from Zendrive

Intuit

Today, Intuit announced that we’ve signed an agreement to acquire technology from leading mobility risk intelligence provider Zendrive. Certain Zendrive employees, including CEO Dennis Ellis and Co-founder and CTO Pankaj Risbood, will join Credit Karma to accelerate innovation and adoption of its usage-based auto insurance product, Karma Drive.

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White House downplays hopes for SALT cap hike

Accounting Today

The SALT cap is one of several tax issues to be confronted next year, with key portions of Trump's 2017 tax cuts expiring at the end of 2025.

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Intuit to acquire technology from Zendrive

Intuit

Today, Intuit announced that we’ve signed an agreement to acquire technology from leading mobility risk intelligence provider Zendrive. Certain Zendrive employees, including CEO Dennis Ellis and Co-founder and CTO Pankaj Risbood, will join Credit Karma to accelerate innovation and adoption of its usage-based auto insurance product, Karma Drive.

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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.