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Accounting

Forensic AI Accounting: A New Era of Proactive Fraud Monitoring is Coming

Technology can put “eyes” on every transaction, empowering organizations of all sizes to catch fraud before it empties accounts.

Staffing

Professionals on the Move – Sept. 2024

Professionals on the Move is a highlight of recent staffing and promotion announcements from around the profession.

Mary Girsch-Bock

Accounting

AICPA News – Sept. 2024

AICPA News is a round-up of recent announcements from the American Institute of CPAs.

Mary Girsch-Bock

Technology

AI is Pushing the Boundaries of B2B Order-to-Cash Operations

83% of respondents indicate that digital transformation across their order-to-cash processes is critical to their organization’s survival vs. 77% in a 2023 survey.

Isaac M. O’Bannon

Firm Management

Georgia Society of CPAs and Feeding Georgia’s Accounting Food Fight Raises $347,000 for Food Banks

The Georgia Accounting Food Fight is timed each year to restock the food banks after the summer surge they experience due to the conclusion of the school year (and school lunch assistance programs).

Isaac M. O’Bannon

Firm Management

PwC to Give Pink Slips to 1,800 Employees Next Month

The Big Four firm is trimming about 2.5% of its U.S. workforce, primarily in its advisory practice and products and technology operations.

Jason Bramwell

Payroll

Teacher Pay Increased in 2023, But Still Lags Other College Graduate Professions

The average weekly wage of teachers has been falling behind that of other college graduates since 1996–when the teacher pay penalty was 6.1%–and more so since 2014.

Isaac M. O’Bannon

Taxes

IRS Issues Proposed Regs for New Corporate Alternative Minimum Tax (CAMT)

The proposed regulations provide definitions and general rules for determining and identifying AFSI. They also include rules regarding various statutory and regulatory adjustments in determining AFSI.

Isaac M. O’Bannon

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Accounting

M&A Professionals See an Increase in Deal Volume Coming

Despite high interest rates, M&A professionals say several factors are leading to their predictions of stronger deal activity in the later stages of this year.

Isaac M. O’Bannon

Payroll

AI is Reshaping the Hiring Process

While companies are hiring more, they’re also receiving a flood of applications, making it harder for employers to select the right candidate and for employees to stand out.

Isaac M. O’Bannon

Small Business

Program to Help California Cannabis Businesses Get Licensed

Delayed spending and a lack of oversight threaten to disrupt a $100 million grant program run by the Department of Cannabis Control intended to help businesses secure state licenses, a recent report by California State Auditor found.

Taxes

Colorado Set to Join IRS Direct File Program in 2026

Coloradans will soon be able to file their federal income taxes online for free under a program created by the Inflation Reduction Act.

Accounting

Prophix Adds Account Reconciliation to Prophix One Platform

The new solution provides relief from disjointed, manual processes that leave room for error and confusion, Prophix said.

Jason Bramwell

Accounting

Survey Results Are In: Charting the Future of Accounting

Explore the evolving landscape of the accounting profession with this comprehensive report from Canopy and CPA Practice Advisor.

Accounting

Global Demand for EVs Slows Due to Lack of Charging Locations

Global demand for electric vehicles (EVs) has slowed, and for prospective EV buyers, the main concern is a lack of charging infrastructure, according to the fifth annual EY Global Mobility Consumer Index report.

Isaac M. O’Bannon

ESG

Thomson Reuters Adds Integration with SAP for ESG Reporting Compliance

The integration plans include combining Thomson Reuters ONESOURCE Statutory Reporting and SAP Sustainability Control Tower, enabling customers to prepare, gather, and file ESG data seamlessly within a unified solution.

Isaac M. O’Bannon

Accounting

Why Your Accounting Firm Needs Managed IT Services

Firms can no longer overlook the benefits of this partnership as they can miss out on many efficiency gains.

Accounting

Paystand Expands Its Zero-Fee Payments Network into the Canadian Market

Paystand’s network supports the full suite of legacy payment options like credit cards and EFT, however Paystand customers benefit from a zero-fee B2B Payment Network

Isaac M. O’Bannon

Accounting

Charting the Future of Accounting – Sept. 12 Webcast

Canopy and CPA Practice Advisor partnered on a survey asking accountants how they saw the profession today and where they thought it would be in three to five years.

ESG

Workiva and Visual Lease Announce Partnership for Financial and Sustainability Reporting

The importance of dedicated sustainability management and reporting solutions is underscored by the significant role real estate and equipment leases play in many organizations’ overall budget and carbon footprint.

Isaac M. O’Bannon

Taxes

Bloomberg Tax Predicts 2025 Standard Tax Rates, Standard Deductions, and AMT

Bloomberg Tax’s annual Projected U.S. Tax Rates Report provides early, accurate notice of the potential tax savings that could be realized due to increases in deduction limitations, upward adjustments to tax brackets, and increases to numerous other key thresholds.

Isaac M. O’Bannon

Taxes

What Trump and Harris Said About Tariffs and Taxes During Debate

The two presidential candidates attacked each other on the economy, taxes, immigration, and abortion, among other issues.

State and Local Taxes

Some Solutions for State and Local Tax Deductibility

With elections approaching, it’s time for governors and mayors to offer some viable new policy options—and ways to pay for them.

Taxes

IRS Extends Some Tax Filings For New York, Connecticut Flood Victims

Impacted residents and business owners have until Feb. 3, 2025, to submit a variety of tax filings and payments.

Taxes

The Tax Blotter – Sept 10, 2024

The Tax Blotter is a collection of briefs of recent tax legislation and tax court decisions.

Ken Berry, JD

Auditing

SEC Green-Lights New PCAOB Quality Control Standard

Nearly three weeks after approving a batch of new PCAOB standards, the SEC Sept. 9 OK’d another new rule, this time on quality control.

Jason Bramwell

Firm Management

Landmark CPAs Adds Garland & Greenwood CPAs in Arkansas

After the merger closes on Jan. 1, 2025, Landmark CPA’s headcount will expand to 200 professionals across Arkansas and Arizona.

Jason Bramwell

Payroll

U.S. Household Income Rose 4 Percent in 2023, Median Level at $80,610

The U.S. Census Bureau has announced that real median household income increased by 4.0% between 2022 and 2023. At the same time, the official poverty rate fell 0.4 percentage points, to 11.1%, in 2023.

Isaac M. O’Bannon

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Small Business

September Retail Imports Forecast to Remain High Ahead of Possible Port Strike

The nation’s major container ports are expected to see another busy month in September ahead of a potential labor strike at East Coast and Gulf Coast ports.

Isaac M. O’Bannon

Accounting

Rising Cyber Threats Drive CFOs to Prioritize Data Security and Privacy, Increasing Focus on FP&A and Gen AI

The survey also found that generative AI is now being employed by one in three finance organizations, with process automation and financial forecasting representing the most common uses of the technology.

Isaac M. O’Bannon