If you’re a leader within an accounting firm, you’ve likely heard of advisory services and their lucrative impact. This trend is picking up pace as traditional accounting firms seek more strategic and meaningful work that goes beyond just tax returns. Offering your clients proactive advice through accounting advisory services is especially important as the regulatory…
If you’re a high-income and global high-net-worth individual or a principal in a multitiered pass-through entity, partnership, or multinational company, you’re a priority for the IRS Criminal Investigation division. You’re also a priority if you’re a medical professional, operate in the political arena, or work in the legal profession. We’ve seen a marked increase in…
The accounting profession is reaching a crisis point. The industry hemorrhaged 334,000 accountants and auditors from 2019 to 2021, including CPAs, and just 22,000 accountants and auditors joined the workforce last year. The shortfall has led to questions about the requirement for US accountants to have 150 hours of education to receive a CPA license….
Seven years and three controversial proposals later, US accounting standard-setters voted Wednesday to require companies to tell the public more about the taxes they pay. Starting as soon as 2025, company annual financial reports will have to include the year-to-date amount of income tax paid, net of refunds received, to state, federal, and foreign taxing…
Crypto companies and other businesses with significant holdings of digital currencies will get long-awaited accounting rules to measure the value of the Bitcoin, Ethereum, and other crypto in their coffers, US accounting standard-setters unanimously voted Wednesday. The cryptocurrency landscape witnesses a seismic shift as long-awaited Bitcoin accounting rules come into play. Designed to capture the…
AI could make the accounting profession more appealing via technology and innovation. Some accountants worry that AI will replace them, but the real opportunity is that accountants who know how to leverage AI software may someday replace those who don’t, observes Jeff Dernavich, VP of product at LeaseQuery. Unless you’re truly living off the grid,…
