Fri.Nov 01, 2024

article thumbnail

IRS increases 401(k) limit for 2025 but keeps IRA limit the same

Accounting Today

The amount individuals can contribute to their 401(k) plans in 2025 has increased by $500 to $23,500, up from $23,000 for 2024, but the IRA limit remains $7,000.

Tax 306
article thumbnail

Effective Year-End Business Budgeting Strategies for Financial Success

Enterprise Recovery: Accounts Receivable

With just a few months left of the year, it's time to ensure that your business is well-prepared. Careful planning and allocation of financial resources can help your business seize new opportunities, overcome potential challenges, and achieve its growth objectives. By creating a financial roadmap that supports sustainable development and long-term success, you're positioning your business to thrive in the coming year.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Personality screenings may improve audit quality

Accounting Today

Researchers found that auditors with greater honesty-humility are more likely to prioritize professional integrity and report financial infractions.

Auditing 299
article thumbnail

Essential Standards for Your AR Team

oAppsNet

Your Accounts Receivable (AR) team is your business’s critical cash flow driver. With a high-performing AR team, your business can expect accelerated payments, improved cash flow, and a reduced risk of falling behind on bills, payroll, and growth opportunities. But what separates an average AR team from a high-performing one? It all comes down to standards—the essential practices, guidelines, and expectations that every team member follows to ensure a smooth and efficient process.

AR 52
article thumbnail

Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

article thumbnail

Accounting firms should follow Wall Street's lead on work-life balance

Accounting Today

The accounting profession is grappling with both a shortage of talent and a generational shift in workplace expectations.

article thumbnail

What Is Total Contract Value, and How Does It Differ From Annual Contract Value?

Billing Platform

As a software-as-a-service (SaaS) organization, you’re likely familiar with terms like total contract value (TCV) and annual contract value (ACV). For ease though, let’s define them. Sometimes referred to as contract value, total contact value (TCV) measures the total revenue of a contract, including both recurring revenue, as well as other fees such as onboarding, professional services, training, over-use charges, implementation fees, etc.

Billing 108

More Trending

article thumbnail

Director definition

Accounting Tools

What is a Director? A director is a member of an entity's board of directors , who has responsibility for creating policy-level decisions, as well as the overall direction and allocation of funding within an organization. A director is typically approved for a one-year term in office by an entity's shareholders at the annual shareholders' meeting, though the duration of the term can vary.

article thumbnail

M&A roundup: Forvis Mazars, Blue, LGA and RBSK expand

Accounting Today

Forvis Mazars acquires MSL; Blue & Co. merges in Mellen, Smith, and Pivoz; LGA adds Comolli; RBSK Partners acquires Hash CPA Group.

CPA 162
article thumbnail

Deficit definition

Accounting Tools

What is a Deficit? A deficit is the negative balance in retained earnings that is caused by cumulative losses exceeding the amount of equity. A deficit can be the result of a large amount of startup costs for a new business, which will (hopefully) be offset by profits in future reporting periods. A deficit may also be the result of the ongoing inability of a more established organization to generate a profit on a consistent basis.

article thumbnail

On the move: PwC appoints CTIO

Accounting Today

UHY launches global rebrand; IRS selects first associate chief counsel for the newly created passthroughs, trusts and estates office; and more news from across the profession.

162
162
article thumbnail

The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

article thumbnail

The ProAdvisor Training & Certification Refresh You’ve Been Waiting For

Insightful Accountant

Recently, Intuit’s ProAdvisor program was reimagined to deliver additional value to accountant partners through refreshed points and benefits. Intuit is now taking the transformation a step further by reimagining the ProAdvisor certification journey.

article thumbnail

Who will be in charge here?

Accounting Today

As private equity floods in, accounting is at the beginning of a great experiment around money and control.

article thumbnail

Why Spreadsheets Remain the Backbone of SMB Accounting

Insightful Accountant

Small and midsize businesses (SMBs) are turning to cloud accounting platforms for automation and streamlined accounting. But many find them insufficient for advanced reporting and data analysis.

article thumbnail

CBIZ completes Marcum acquisition

Accounting Today

The megadeal creates a combined firm with approximately $2.8 billion in annual revenue.

162
162
article thumbnail

Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

article thumbnail

Erase Client Frustration with Automated Tax Return Delivery They'll Adopt

Blake Oliver

Ever had a client say "I never got the email" about their tax return? Tired of chasing clients for signatures and document approvals? Learn how to cure this headache with SafeSend’s first CPE course on Earmark. In "Erase Client Frustration with Automated Tax Return Delivery," David Bozynski breaks down how to solve this common headache once and for all.

Tax 52
article thumbnail

Building a $200K Accounting Firm in Just 15 Hours a Week

Earmark Accounting Podcast

Erica Goode, CPA, reveals how she built a thriving $200K accounting firm working just 15 hours a week. Discover the power of niching, efficient processes, and work-life balance in this candid discussion. Erica will share her journey from corporate burnout to entrepreneurial success, offering practical insights on pricing strategies, time management, and building authority in your niche.

CPA 45
article thumbnail

Direct materials inventory definition

Accounting Tools

What is Direct Materials Inventory? Direct materials inventory is the total amount of components on hand that have not yet been included in products. This is one of the three main classifications of inventory; the other two classifications are work-in-process inventory and finished goods inventory. The ending value of direct materials inventory may be stated in a separate line item on an entity's balance sheet , or it may be aggregated into a single inventory line item with the other two invento

article thumbnail

T-shirts for accountants

Accounting Fun

Perhaps the original here was the T-shirt that offered a definition of an accountant: "Someone who does precision guesswork, based on unreliable data, provided by those of questionable knowledge - See also wizard, magician" If you know me, you'll know why this has always appealed. Others you might prefer include: "Life’s a balance sheet – assets, liabilities, and too much depreciation.

article thumbnail

8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.