Mon.Mar 10, 2025

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What’s new in Xero – March 2025 & Quarterly Wrap

Xero

Its been a massive start to 2025! In February , we shared enhancements weve made to invoicing. We also heard your feedback, and so now you can automatically prepare partnership annual accounts and tax returns using Xero data and seamlessly file them with HMRC (read more in the previous edition of Whats New). Check out more in our quarterly wrap video below.

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BPM expands in Canada

Accounting Today

The Top 50 Firm is expanding further in Canada by adding locations in the greater Toronto area and Calgary.

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JAX expands beta access and introduces new features to save you time and effort

Xero

A year ago, we shared our vision to reimagine accounting using AI and mobile , recognizing the transformative potential for small businesses and the industry. As part of delivering on that vision, we launched Just Ask Xero (JAX), our smart and reliable generative-AI business companion, to make accounting tasks easier and save you time through simple conversation within everyday apps.

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An inside look at the alternative practice structure

Accounting Today

Firms everywhere are adopting alternative practice structures -- but who knows what an APS really is? William Kelly, chief counsel at Ascend, dives into the details.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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A Guide to the Procurement Act 2023 -What It Means for Your School or Trust

Compleatable

Posted on March 07, 2025 If youre involved in managing a school or academy trust in the UK, youve likely heard whispers about the Procurement Act 2023. Despite its name suggesting its been around for a while, this piece of legislation only came into force a couple of weeks ago, on February 24, 2025. Its a big deal for anyone handling purchasing decisions, and its shaking up how schools and trusts buy goods, services, and works.

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AICPA proposes independence changes for PE

Accounting Today

The possible rule changes would affect the alternative practice structures set up by accounting firms receiving private equity financing.

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CohnReznick makes plans after scoring PE funding

Accounting Today

The Apax Partners deal will add more capabilities for the firm to expand geographically in its existing areas as well as new territory.

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March Hiring Prep: Strengthen Your Tax Team for Post-Busy Season Success

accountingfly

As the peak busy season ends in April, its time for accounting firms to shift their focus to whats nexttax team hiring. While your team is still in all-hands-on-deck mode, March is the ideal time to start preparing for the post-busy season transition. Laying the groundwork now ensures youre ready to bring in the right talent when the time comes. Assess Your Teams Workload As March progresses, its important to step back and evaluate your teams workload, even during the busiest time of the year.

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Financial empathy for CPAs isn't an oxymoron

Accounting Today

Deep in the heart of busy season, you may not be feeling much empathy for clients who have been procrastinating and are so disorganized, but you should.

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What Is Prime Cost? Formula + Free Calculator

Fit Small Business

The prime cost is the total direct material and labor costs of producing a product or delivering a service. It helps you analyze how much these costs reduce your gross profit, making it easier to determine whether your expenses are within a healthy range. The formula for computing prime costs is as follows: Prime cost. The post What Is Prime Cost? Formula + Free Calculator appeared first on Fit Small Business.

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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.

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Art of Accounting: 5 reasons for failing to grow and how to change them

Accounting Today

Part of growing is for your staff to also grow. That growth comes when they are empowered to take charge, supervise and make decisions.

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Top 10 Invoicing Software for Freelancers for Simplified Billing

Invoicera

Invoicing for freelancers is the most boring task! But technology has made it easy to handle complex billing with automation and in very little time. There are around 1.75 billion freelancers all over the world, and everyone has to send bills to clients in order to receive timely payments. This blog discusses 10 invoicing software for freelancers that will help them create and send invoices faster than before.

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UBS found guilty in France of harassing two tax whistleblowers

Accounting Today

UBS France retaliated against its former auditor by sidelining him and refusing to promote him to executive director after he disclosed information to bosses.

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Voting Continues for the 2025 ProAdvisor Awards

Insightful Accountant

More than 700 Ballots for the 2025 ProAdvisor Awards have already been cast. Have you cast yours?

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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.

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How Can Small Businesses Compete Successfully With Larger Businesses? Our Top 6 Tips

CSI Accounting & Payroll

Larger businesses often have many advantages. Tons of locations, customer loyalty, brand recognition, cheaper bulk purchases from suppliers, bigger budgets you name it.

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Tax Season Update: IRS Layoffs, Scam Alerts, and CTA Enforcement Changes

Insightful Accountant

The 2025 tax season continues to evolve with significant changes at the IRS, new scam alerts, and updates to Corporate Transparency Act enforcement. Here's what tax practitioners need to know.

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Green Screens and Pink Slips: An IRS Agent's Layoff Story

Cloud Accounting Podcast

What happens when political changes collide with tax enforcement? In this revealing conversation, former IRS revenue agent Jeff Johnson shares his firsthand account of being caught in the recent mass layoffs at the IRS. Having just completed seven months of intensive training, Jeff was among 7,000 probationary employees suddenly terminated as part of a broader federal workforce reduction initiative.

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House unveils Trump-backed bill to avert government shutdown

Accounting Today

The bill would claw back $20.2 billion in spending for the IRS passed as part of President Joe Biden's signature green-energy Inflation Reduction Act.

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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.