News

Deciding if employees should return to the office is a decision CFOs should weigh with consideration for both employee and company needs.

Executives and employees believe artificial intelligence is good for business, but employees say some companies are not clear about how they intend to use AI.

Most CPA firms are steeped in the partner model of ownership, but one of the country's largest firms recently opted to break with that model by establishing an employee stock ownership plan (ESOP).

Certain businesses that receive payments of over $10,000 in cash must file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, electronically starting in 2024, the IRS said Wednesday in a news release (IR-2023-157). This new requirement applies to businesses that are required to file at least 10 information returns of one or more types other than Form 8300 in 2024.

All too often, accounting firms are run on the default model, with new owners simply recapitulating the business practices and structures of the firms where they started their careers — but it doesn't have to be that way.

Most companies require or encourage employees to work from the office, but 80% of staff continue to work from home or keep a hybrid schedule.

New initiatives will be supported by individuals across the CTCPA membership. Looking for member engagement!

With labor issues continuing to be top of mind, we asked CFOs what new hires have requested lately.

Thomson Reuters (NYSE/TSX: TRI), a global content and technology company, today released its Future of Professionals Report. The survey of more than 1,200 individuals working internationally shares the predicted impact that generative AI will have on the future of professional work. The survey showed 67% of respondents believe AI will have a transformational or high impact on their profession in the next five years.

The Corporate Transparency Act (“CTA”) was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act. The CTA is intended to address and guard against money laundering, terrorism financing, and other forms of illegal financing by mandating certain entities (primarily small and medium size businesses) to report “beneficial owner” information to the Financial Crimes Enforcement Network (“FinCEN”).

Generative AI technologies like ChatGPT and Bard aren't the end of the world, as sci-fi antagonists may make them out to be. But they're not demure wallflowers, either. The truth exists somewhere in between, leaving CFOs with many questions but few answers on how to integrate these game-changing tools to maximize efficiency, accuracy and insight into everyday finance and accounting.

This spring the National Association of State Boards of Accountancy (NASBA) announced an amendment to the Uniform Accountancy Act Model Rules that extends the CPA Exam testing window from 18 months to 30 months. This means that individuals will now have 30 months from receiving their first CPA Exam section passing score to successfully pass the remaining sections.

The summer Labour Market Outlook found that employers are increasingly using counteroffers in response to skill shortages, with some planning pay reviews over the next year.

A recent rise in software fees has sparked debate among practice owners about how the cost of multiple, interconnecting cloud applications should be packaged and presented to clients, whether price hikes should be passed on and when this should happen.

BDO USA, citing a desire to strengthen its business model in part to retain and attract talent, is preparing to become the first large public accounting firm to establish an employee stock ownership plan (ESOP).

Work/life balance is imperative to attract and retain younger workers. New research shows business leaders aren’t as enthusiastic about flexible working as employees are.

No policy issue has dominated the accounting profession over the past several decades as much as accountant education – specifically, the 150-hour education requirement.

Companies that mandate full-time office commitments are likely to experience turnover among leadership, data suggests.

A recent global survey from McKinsey found that leaders are looking to increase AI-related investments, but less than half have planned for the organisational risks involved.

The American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy (NASBA) will launch an innovative post-graduate program this fall in collaboration with the Tulane School of Professional Advancement (SoPA). The program blends rigorous online learning with on-the-job professional experience for college accounting graduates, offering a less costly and more flexible way to complete the 150-hour course credit requirement to become a licensed CPA.