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Rea Associates, a Top 100 Firm based in New Philadelphia, Ohio, plans to add Kennedy Cottrell Richards, a firm based in Gahanna, Ohio, effective Sept. 1. The combined firm will include more than 300 professionals serving clients throughout Ohio. Financial terms of the deal were not disclosed. Rea ranked 86th on Accounting Today’s 2020 list […]
The Financial Accounting Standards Board has released a new guide to a feature of Extensible Business Reporting Language known as extensible lists FASB’s Proposed Taxonomy Implementation Guide, Extensible Lists: A Guide for Preparers explains an XBRL design feature known as extensible lists. The lists permit the definition of concepts from a predefined list of values. […]
The National Conference of CPA Practitioners has endorsed legislation to give the Treasury and the Internal Revenue Service the authority to regulate tax preparers. In a letter to Sens. Chuck Grassley, R-Iowa, and Ron Wyden, D-Oregon, and Reps. Kevin Brady, R-Texas, and Richard Neal, D-Massachusetts, the organization urged them to pass S.1192/H.R.3330, “The Taxpayer Protection […]
Gusto, a provider of payroll, benefits and human resources for small businesses, is rolling out a certification program Thursday for accountants who want to be certified in providing the company’s services to their clients. The People Advisory Certification will enable accountants to combine their financial advisory expertise with new services for clients in areas such […]
Financial planning is a well-defined process that takes time and attention to detail to do right. Most CPA firms still don’t take this responsibility seriously, and look to put in as little time as possible to maximize their realization rate. This is unfortunate for the profession as a whole, and even more unfortunate for the […]
Intuit has introduced QuickBooks Cash, a business bank account with a high-yield interest rate. There are no account opening fees, maintenance fees, minimum balances, overdraft fees, or other recurring fees associated with the account. QuickBooks Cash, accessible out of the QuickBooks suite of business service, includes a machine-learning powered finance planner, 90-day cash flow projections, […]
Digital transformation is certainly not a new concept. But has COVID-19 effectively scrapped slower plans for integration and accelerated any and all initiatives on how to make a workplace more automated, efficient and productive? Undoubtedly. The need for AI and predictive analytics, as well enhanced processes across the board, has been highlighted within nearly every […]
In response to the coronavirus pandemic, the Internal Revenue Service is implementing a new temporary procedure for faxing the duplicate copy of Form 3115, “Application for Change in Accounting Method,” for companies applying for an automatic change in accounting method. Since the start of the pandemic, the IRS has loosened some of its rules for […]
Tax technology provider Vertex Inc. went public Wednesday on the Nasdaq and plans to use the extra capital to expand abroad and develop new sales and use tax software and services. Despite the ongoing coronavirus pandemic, the company decided to move forward with the IPO. “We’re very fortunate the company has continued to grow through […]
Accountants are critical to the economy’s recovery from the devastating effects of the coronavirus pandemic, according to leaders at the American Institute of CPAs — and that central role is also opening up some very specific business opportunities for them. “Our profession today is the equivalent of the medical profession for the economy, not just […]
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