Home
Featured….
Can AI Pass the CPA Exam? Groundbreaking Study Reveals Surprising Potential and Limitations
Expensify Targets Global Self-Employed Market With New Expense Tracking Features
8 Characteristics of a Well-Designed Root Cause Analysis Process, According to the PCAOB
Five Accounting Firms Among LinkedIn’s Top Companies to Grow Your Career in 2024
Contributors….
Becky Livingston
Garrett Wagner
Richard D. Alaniz
Randy Johnston
Webinars and CPE….
Webast: Valuation Considerations in Emerging Markets – July 11, 2024
Webinar: Effortless Tax Prep and Workflow: Say Goodbye to Client Frustrations
Events….
Accounting
Xerocon 2024 Nashville: Aug. 14-15, 2024
The event will be hosted at the Music City Center, allowing Xero’s community of accountants and bookkeepers from across the U.S., Canada and beyond the chance to connect, as well as options for earning CPE credit.
Accounting
RightNOW Conference 2024
Top influencer keynotes, transformative tech insights and AI innovators converge to elevate the accounting profession at RightNOW 2024. May 14-16, 2024 | Austin, TX.
IRS Offers Resources and Advice During National Small Business Week
The Internal Revenue Service is offering tax-related information to entrepreneurs in anticipation of the upcoming kick-off of National Small Business Week.
Three in Four Family Businesses Expect to Grow This Year
Family businesses are growing—and many expect that to continue this year, despite financial concerns, Family Enterprise USA says.
Firm Management
Fieldguide Launches Analytics Solution for CPA Firm Decision-Making
With the industry-wide talent shortage, firms are seeking to be smarter and more vigilant with their engagements, resources, and client metrics.
AICPA
Can AI Pass the CPA Exam? Groundbreaking Study Reveals Surprising Potential and Limitations
In a landmark experiment, researchers at AIGENCY have tested the limits of artificial intelligence (AI) by challenging state-of-the-art AI models with the rigorous Certified Public Accountant (CPA) exam.
Small Business
Expensify Targets Global Self-Employed Market With New Expense Tracking Features
tracking for self-employed professionals in its next-gen New Expensify platform.
The upgrade makes it easier than ever for self-employed professionals to track all types of business spend – as receipts, mileage, or manual amounts – in one place.
Auditing
8 Characteristics of a Well-Designed Root Cause Analysis Process, According to the PCAOB
In a staff report, the PCAOB discusses the importance of the root cause analysis process in firms’ efforts to improve audit quality.
Accounting
Five Accounting Firms Among LinkedIn’s Top Companies to Grow Your Career in 2024
The 50 companies included in the 2024 ranking offer their employees what LinkedIn says are eight pillars that lead to career growth.
Cloud Technology
One Cloud Platform, Endless Possibilities For Accountants
Cloud platforms unlock endless opportunities, prioritize security, and embrace cutting-edge technologies.
Accounting
Minnesota CPA Stole More Than $340,000 From Her Clients, Feds Say
Jeana Ann Lautigar of Edina, MN, was charged with making monetary transactions connected to the crime and failing to file taxes.
Taxes
Florida Tax Preparer Charged 5 Years Ago With Stealing Has Done It Again, Cops Say
Dennis Maxey was arrested in 2019 for grand theft and scheme to defraud, both first-degree felonies. He was arrested again on April 18.
Payroll
Majority of GenZ Workers Stressed Over Finances, Report Lost Productivity
While 76% of workers are not satisfied with their company’s financial benefits, 92% of leaders believe their company offers the financial support employees need.
Payroll
AI Will Help Some Plan for Summer Vacations
The survey found that families traveling with children are especially likely to use travel AI tools this summer, with 57.4% indicating a potential interest in using the technology.
Small Business
Manufacturers Optimistic on Growth
Two factors in the increase in optimism across the industry are an increase in customer demand and a decrease in labor challenges.
Accounting
LeaseCrunch to Share Expertise at Accounting Industry Events
As participants in the following events, LeaseCrunch will offer valuable insights, and promote best practices in lease accounting.
Technology
More Than a Tech Upgrade: How AI Investments Can Sharpen a CPA Firm’s Competitive Edge
Here are some ways that AI tools can help your CPA firm be more effective and competitive today by allowing you to make the best use of your people and their skills.
Sales Tax
Sovos Launches Indirect Tax Suite to Meet Complexities of Global Compliance
Part of the Sovos Compliance Cloud, the Indirect Tax Suite empowers enterprises to manage all of their indirect tax obligations with governments, buyers, suppliers and consumers.
Accounting Standards
State CPA Societies in Action: Oklahoma Society of CPAs
State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S.
Accounting
FASB Names Three New Members to Its Small Business Advisory Committee
The Financial Accounting Standards Board (FASB) has added three new members to its Small Business Advisory Committee (SBAC), effective immediately.
Taxes
IRS Opens Second Allocation Round For Advanced Energy Tax Credit
Beginning May 28, the IRS will accept applications from taxpayers seeking tax credits from the pool of $6 billion allocated in Round 2.
Advisory
Digital Workflow in Intuit ProConnect Tax
During the Intuit Accountants “Better Together” event in New York City, the Intuit ProTax Group brought together tax professionals and industry thought leaders.
Auditing
PCAOB Group Seeks Input On the Most Decision-Useful CAMs or KAMs
The Investor Advisory Group is looking to identify the top three critical audit matters or key audit matters for 2023.
Payroll
AICPA Asks Treasury for Clarification of Long-Term and Part-Time Employee Rules
The recommendations touch on points made in the November 2023 proposed regulations related to the changes to LTPT employees made by SECURE 2.0.
Taxes
Worst States For Investors With Long-Term Capital Gains
These nine states, plus the District of Columbia, have high long-term capital gains tax rates that could eat a chunk of your earnings.
Accounting
Daniel Dustin to Take the Reins of NASBA in August
Dustin, who currently is NASBA’s vice president of state board relations, will succeed Ken Bishop as president and CEO Aug. 1.
Firm Management
Women Are More Stressed at Work—But Hybrid Has Helped, Deloitte Says
A new report found that women still face many challenges at work, such as high stress, microaggressions, and poor work-life balance.
Advisory
Marketing for Growth – 4 Tips for Firms
One core strategy for doing this will be marketing new and consistently in-demand services – from CAS and CFO advisory, to AP and financial statement preparation.
Accounting
Internal Audit Foundation Report Finds Changing Risk Landscape Will Require Shift in Hiring Trends
According to the report, hiring managers tend to seek recent college graduates who have studied accounting (80%), followed by those from auditing (53%) and business (44%).
Small Business
FreshBooks Updates Digital Payment Options with Stripe Connect
FreshBooks is one of the first to adopt Stripe Connect’s new and innovative features that will help business owners onboard faster, track their payouts, and facilitate improved cash flow.
Small Business
IRS Offers Resources and Advice During National Small Business Week
The Internal Revenue Service is offering tax-related information to entrepreneurs in anticipation of the upcoming kick-off of National Small Business Week.
Small Business
Americans Plan to Spend Nearly $33.5 Billion for Mother’s Day
The figure is the second highest in the history of the survey, following last year’s record $35.7 billion.
Firm Management
PKF O’Connor Davies Establishes PKF O’Connor Davies University to Enhance Team Members’ Continuing Education
PKF O’Connor Davies University provides team members with an array of industry-specific training, coaching and certification opportunities that are foundational for career advancement.
Accounting Standards
FASB Private Company Council Meeting Recap
The Private Company Council (PCC) met on Thursday, April 18, 2024. This is a summary of topics discussed by PCC and FASB members at the meeting.
Taxes
IRS Says It Saw ‘Strong Response’ From Direct File Pilot Users This Tax Season
About 140,800 taxpayers in 12 states filed their federal tax returns through the new service, but its future is up in the air.
Firm Management
Ryan Leads Charge Against Biden’s Ban on Noncompete Clauses
The Dallas-based global tax services firm filed the first of what would soon be a slew of lawsuits against the ban on noncompetes.