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Businesses must e-file Form 8300 for $10,000+ cash payments in 2024

August 31, 2023

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.

  • business and industry
  • practice management
  • federal tax

Hybrid Jobs Surge 29% YoY; Remote Jobs Decline

August 29, 2023

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.

  • business and industry
  • career resources
  • practice management

What New and Prospective Hires Are Demanding: CFO Peer Audit

August 25, 2023

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

  • business and industry
  • career resources
  • practice management

Thomson Reuters Future of Professionals Report Predicts AI will Have a Transformational Impact on Professional Work by 2028

August 23, 2023

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.

  • business and industry
  • career resources
  • practice management

Corporate Transparency Act/Beneficial Ownership Information Reporting — Risk Management Considerations for CPA Firms

August 22, 2023

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”).

  • accounting and auditing
  • business and industry
  • practice management
  • boi

Generative AI plays a role in everyday finance

August 21, 2023

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.

  • business and industry
  • practice management
  • technology and cybersecurity

Connecticut Adopts 30-Month CPA Exam Testing Window: FAQs on Timing and Implementation

August 17, 2023

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.

  • business and industry
  • career resources
  • practice management
  • advocacy - state
  • press room

More employers using counteroffers to retain staff, report finds

August 16, 2023

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.

  • business and industry
  • career resources
  • practice management

Accountants face up to the cost of cloud app stacks

August 15, 2023

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.

  • business and industry
  • practice management
  • technology and cybersecurity

ESG's Biggest Miss: Supply Chain Visibility

August 11, 2023

As ESG efforts gain traction, they may be distracting companies from other social impact issues, like the use of slave labor in supply chains.

  • accounting and auditing
  • business and industry

Flexibility and financial security are not negotiable, Gen Z says

August 11, 2023

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.

  • business and industry
  • career resources
  • practice management

Experiential Learning: An Evolution in How Knowledge Is Obtained by Prospective CPAs

August 10, 2023

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

  • business and industry
  • career resources
  • practice management

66% of Financial Services Leaders Would Quit If Forced to Return to Office

August 09, 2023

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

  • business and industry
  • career resources
  • practice management

Future C-suite leaders banking on continued hybrid work model

August 09, 2023

While the large majority of future C-suite executives at financial services institutions don't view a fully remote work model as ideal for their roles, most are opposed to a return to fully in-office work – something that C-suite leaders of today would be wise to keep in mind.

  • business and industry
  • career resources

Investing in generative AI is a balance between risk and reward

August 09, 2023

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.

  • business and industry
  • practice management
  • technology and cybersecurity

72% of Employees Say Productivity is Dependent On Good Data

August 07, 2023

Employees use data more than brainstorming or gut instinct when making decisions, according to a Slingshot survey.

  • business and industry
  • technology and cybersecurity

AICPA and NASBA to Launch Learning Program Designed to Ease Path to CPA Licensure

August 07, 2023

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.

  • business and industry
  • career resources
  • practice management
  • advocacy - federal

How to tackle the accounting recruitment crisis

August 07, 2023

So, what can accountants do to attract the best talent and convince more job hunters to apply for roles with them? In this article, we give you our take.

  • business and industry
  • career resources
  • practice management

Leaders split on whether AI will reduce headcount

August 03, 2023

Business decision makers believe generative AI models, such as the infamous talking bot ChatGPT, will either reduce the overall headcount at their organizations or increase it, depending on who is asked.

  • business and industry
  • practice management
  • technology and cybersecurity

Make your talent never want to leave

July 25, 2023

If you look after your team they will look after your clients. It will also stop them looking for jobs elsewhere.

  • business and industry
  • practice management