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Featured….
AICPA, NASBA Seek Input on Proposed New Pathway to CPA Licensure
Forensic AI Accounting: A New Era of Proactive Fraud Monitoring is Coming
Professionals on the Move – Sept. 2024
AICPA News – Sept. 2024
Contributors….
Randy Johnston
Darren Root, CPA, CITP, CGMA
Becky Livingston
Garrett Wagner
Richard D. Alaniz, JD
Webinars and CPE….
Charting the Future of Accounting – Sept. 12 Webcast
CPE Webcast – Unlocking Success: Building Your Small Firm’s Ideal Tech Stack
Events….
Technology
K2 Artificial Intelligence Conference – June 20 – 8 Hours CPE Available
K2 Enterprises will host the Accountant’s Artificial Intelligence Conference, a new virtual event that is set to make an indelible mark on your professional skill set.
Taxes
Tax In Motion 2024 Federal Tax Forum – June 25-26, 2024
Join RSM’s highly anticipated two-day federal tax forum for comprehensive sessions covering crucial updates in federal tax regulations and practices.
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.
Focus & Flow: The ADHD Accountant’s Survival Guide
There’s a growing number of accountants admitting they have ADHD and their struggles with the neurological condition. This Reddit thread asking if there were ADHD accountants has over 140 comments, with people sharing their experiences of living with ADHD in accounting.
2024InnovationAwards
The 2024 Tax and Accounting Technology Innovation Awards Announced
CPA Practice Advisor has announced the 2024 Tax and Technology Innovation Award winners and finalists. Now in their 21st year, the awards highlight technologies that advance the profession.
Nominations Open for 2024 “40 Under 40” and “20 Under 40” Awards
You have until Oct. 11, 2024, to nominate a professional for CPA Practice Advisor’s 2024 40 Under 40 or 20 Under 40 awards.
Accounting
AICPA, NASBA Seek Input on Proposed New Pathway to CPA Licensure
The two groups are asking the public for feedback on a proposed competency-based experience option for licensure.
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.
Accounting
AICPA News – Sept. 2024
AICPA News is a round-up of recent announcements from the American Institute of CPAs.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.