Financial year end reporting is a legal requirement for limited companies. If you run a limited company, then at the end of your financial year you must send certain information to HMRC and Companies House. Financial year-end reporting is a legal requirement, both to ensure that the company pays the right amount of tax, and to provide the…
If you are an accounting professional who has been contemplating a change in career path, you’re not alone. Accountants have the knowledge and experience necessary to work as trusted advisors to the public or within a company, so your certification qualifies you for a variety of career paths. From financial planner to investment banker to…
Tax and accounting firms are increasingly embracing generative artificial intelligence for some of their operations, but regulatory and ethical hurdles are slowing adoption. VIDEO: Can laws and regulations keep up with generative AI? The list of obstacles is long—data privacy concerns, an uncertain regulatory climate, a need for skills training and better internal systems, plus…
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…
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…
