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Featured….
Intuit Shows Off New Tech and Features at Intuit Connect Conference
Herbein Acquires Bumpers & Co. in Delaware
AI Unchained 2024 Celebrates a Groundbreaking Convergence of AI and Accounting
Leveraging AI: 6 Innovative Strategies for Accounting Firms
Contributors….
Randy Johnston
Brian Tankersley
Darren Root, CPA, CITP, CGMA
Becky Livingston
Ken Berry, JD
Webinars and CPE….
CPE Webcast Nov. 14. – Selecting the Right Payroll Partner for Your Business Growth
CPE Webcast Oct. 24. – Stop Resisting Change & Start Controlling It
Events….
Accounting
Intuit Connect 2024 – Oct. 28-30
Get inspired by influential speakers and expert-led sessions on topics such as QuickBooks tools and services, Mailchimp, firm growth, client advisory, and more.
SYNERGY 2024 Conference – Nov. 6-9, 2024
From AI-driven solutions to cutting-edge advancements in digital transformation, find out what’s next from Thomson Reuters at SYNERGY 2024
Intuit Shows Off New Tech and Features at Intuit Connect Conference
Intuit Connect event attendees were the first to get a close look at the company’s latest innovations for advancing accounting automation, payroll and workforce solutions for mid-market customers.
Nomination Period Closes Soon for 2024 “40 Under 40” and “20 Under 40” Awards
The 40 Under 40 Awards spotlight the top practicing public accountants, educators and thought leaders who are leading their profession by visibly and incrementally changing the accounting profession.
Accounting
Accounting MOVE Project Announces The 2024 Best Accounting Firms for Women
The Accounting and Financial Women’s Alliance and Accounting MOVE Project released its two lists of exemplary CPA firms based on the Accounting MOVE Project results: the 2024 Best Firms for Women and the 2024 Best Firms for Equity Leadership.
Small Business
Intuit Shows Off New Tech and Features at Intuit Connect Conference
Intuit Connect event attendees were the first to get a close look at the company’s latest innovations for advancing accounting automation, payroll and workforce solutions for mid-market customers.
Firm Management
Herbein Acquires Bumpers & Co. in Delaware
The top 200 firm has established its first location in Delaware after acquiring Bumpers, an accounting and advisory firm in Wilmington.
Accounting
AI Unchained 2024 Celebrates a Groundbreaking Convergence of AI and Accounting
Headlining the event was none other than actor, producer, and advocate Kal Penn, who brought a unique blend of humor and heart as the keynote speaker.
Firm Management
Leveraging AI: 6 Innovative Strategies for Accounting Firms
If you’re not using AI in your firm already, it’s time to analyze some of the time-consuming tasks that you or your team are performing all the time to see which ones can be assisted or fully offloaded to AI.
Firm Management
Professionals on the Move – Oct. 2024
Professionals on the Move is a round-up of recent hiring and staffing announcements from around the profession.
Accounting
FASB Tackles Plans to Update Software Cost Accounting Guidance
The updated rules would enhance the transparency of an entity’s cash flows related to internal-use software costs, the FASB says.
Firm Management
PwC’s Global Revenue Tops Out at $55.4 Billion in 2024
PwC’s 4.3% revenue growth is larger than the 3.8% and 3.6% year-over-year growth shown by EY and Deloitte, respectively, this year.
Taxes
New IRS LB&I Pass-Through Unit Hits the Ground Running
The new work group, which was formed last fall, has officially started work to more efficiently conduct audits of pass-throughs.
Accounting
Forvis Mazars Launches ProBank Advisor
ProBank Advisor offers assistance by connecting institutions with a robust team of compliance professionals, including former examiners, attorneys, and banking practitioners with more than 150 years of combined experience.
Accounting
FinQuery Launches Prepaid and Accrual Accounting, Helping Accountants Eliminate Errors and Accelerate Close
This solution empowers businesses to automate accounting for prepaid and accrued expenses stemming from contracts such as software, services, utilities, insurance and short-term leases.
Accounting
Lili Launches Lili Connect for Small Business Financial Management
Embedded finance will enable partner companies to grow faster and provide more tailored solutions to their small business customers.
Payroll
Navigating Financial Transitions: Insights for Young Accountants
Financial literacy doesn’t just help you pay the bills and invest wisely – it can truly empower you, enabling you to make better decisions about your career and your life overall.
Technology
Propense.ai Secures Investment from Thomson Reuters Ventures to Accelerate AI Adoption and Innovation in Professional Services Sector
The investment enables Propense to continue advancing its proprietary cross-selling technology by developing innovative, human-centered AI solutions designed to help firms predict client needs and use the full breadth of their offerings to serve clients and maximize value.
Advisory
How Automation Helped a Firm Save Clients $500,000 on Lease Management
With the implementation of the new lease accounting standards under ASC 842, GBQ faced significant challenges in helping their construction clients navigate these complex changes.
2025 Budget Season: 3 Key Priorities
When kicking off the 2025 budgeting process, CFOs will need to revisit and pressure-test the scenarios, assumptions, and decisions that were employed for the previous year.
Firm Management
EY Adds Technology Consulting Firm Dignari
The woman-owned firm specializes in digital identity and access management solutions primarily for U.S. government clients.
Firm Management
RBSK Partners Acquires Hash CPA Group in Indiana
The move expands Greensburg, IN-based RBSK Partners’ client base and strengthens its position as a trusted advisor in the market.
Benefits
Finance & Insurance Tops All Industries in Employee Benefits
The Finance & Insurance industry has the best benefits, as the industry earned the highest overall score of 92.33 out of a possible 100.
Payroll
Two-Thirds of Americans Say Election Will Significantly Impact Unemployment, Survey Finds
American workers have growing fears about AI technology, the outcome of the election, and its impact on unemployment, according to a new survey by MarketWatch Guides.
Taxes
Tax Court Rules Against a Family Limited Partnership
As shown in a new case, Estate of Fields, TC Memo 2024-90, 9/26/24, there must be a legitimate transfer of business ownership. This can’t be merely a means to reduce or avoid tax liability.
Accounting
AICPA Women’s Global Leadership Summit Aims to Promote and Uplift Trailblazers and Allies
AICPA & CIMA will hold the thirteenth annual Women’s Global Leadership Summit from November 11-13 this year in the Seattle area, where attendees dedicated to advancing women in the profession will be inspired by trailblazing speakers, and participate in impactful sessions tailored to all career levels.
Accounting
UHY Unveils First Rebrand in 20 Years
The global network’s new brand identity includes a green color scheme and logo, as well as the new tagline “Connect to possibility.”
Small Business
2024 Intuit Connect Conference Kicks Off in Vegas
Conference activities centered around small business practices, advisory services, professional tax services, and accounting firm management will be held from October 28-30. 2024.
Accounting
Top 10 Technology Predictions for Accounting Firms in 2025
For the 10th item, I asked ChatGPT, Gemini, and Copilot what “their” top ten technology predictions impacting accounting firms in 2025 would be.
Small Business
How to Dissolve a Company in Bad Standing Before Year-End
Whether due to a failure to file reports, pay taxes, or meet regulatory obligations, there may be a time when a company falls into bad standing. When this occurs, dissolution may be a solution.
Firm Management
Grant Thornton US Strikes a Deal With … Grant Thornton in Ireland
Grant Thornton’s tax and advisory business, Grant Thornton Advisors, is merging with its counterparts at Grant Thornton Ireland.
Taxes
Florida Man Pleads Guilty to $1.7 Million Tax Evasion
A Florida man has pleaded guilty to evading the payment of more than $1.7 million he owed for tax years 2004 through 2014.
Accounting
Generational Change … I’m Getting Old
Change is inevitable. Every generation is different because the world they grow up in is different. But instead of viewing this as a strength, we tend to treat it as a problem.
PCAOB
PCAOB Chair Sworn in For Second Term
Erica Williams’ new five-year term as chair of the PCAOB officially began on Oct. 25 and lasts through Oct. 24, 2029.
Firm Management
Cohen & Co. Gets Private Equity Backing
The top 50 accounting firm said on Oct. 25 that it has received a strategic growth investment from Lovell Minnick Partners.
Technology
Review of Liscio – The Accounting Technology Lab Podcast – Oct. 2024
Hosts Brian Tankersley, CPA, and Randy Johnston review Liscio, a client experience platform that centralizes communication, document collection, and task management for accounting firms.