Jan Rowell

Register for our webcast discussing 2024 Revisions to OMB Uniform Guidance. https://lnkd.in/g8N_Qqhh Anita Shah and Matthew Dinsdale share tips on how to prepare for and make the most of higher thresholds and reduced complexity in grant management. #mossadams #omb #notforprofits #nonprofits #highereducation #singleaudits #federalregulations #uniformgudiance

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It’s not uncommon for companies to have their financial statements prepared externally. The AICPA has just issued an exposure draft to better cover this area when your financials are done externally. For those companies who perform those services, heads up. If you are considering contracting a service to do your financial statements, then you may want to review this before contracting?As C-Suite Support, we do several members financial statements, as well as provide accounting services depending on the client’s needs. Paul Whitley Taber Wetz Chris Gauvin Jayson Potts, MBA C-Suite Support

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We are one week into our pilot with DAS at AAFCPAs! During the month of May, our pilot teams are focused on planning parties. The AICPA methodology behind Caseware’s DAS audit software requires a thorough and intelligent planning process before you can move forward with audit steps. 💡 Of course this thinking process ties perfectly with adopting a risk based audit approach! 🎁 We are half way through our planning process and getting used to how it feels to be working in a cloud based product. Navigating a cloud based product takes some time to get used to but being able to work from anywhere is 🔥. We also structured our planning parties to have the entire team work through planning together. Our seniors have enjoyed the knowledge transfer from managers and partners and coming together to think about risks and our audit response has benefited the entire team. We are connecting the dots together, and seniors aren’t moving ahead to do substantive work without the partner’s approval of the audit procedures. This product will change ⏱️How much time we spend in each audit phase 📆How we manage our resources and schedule audits 📞How often we communicate with clients during the year ✅When review of the audit work occurs 🌟I’m really impressed and feel like this product helps all auditors connect the dots between the risk and why we do the audit procedures.

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Benchmarking your audit plans has never been easier! 💪 JW's "annual report helps me ensure that I don't overlook anything in my audit planning & risk assessment" -- CAE at publicly traded healthcare company 🏥

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I mentioned this in my ethics session today. Such an important step to addressing the pipeline!

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Accountant Shortage Impacting Accounting Standards? The accountant shortage is now affecting state and local government standard setting processes. Joel Black, Chair of the Government Accounting Standards Board (GASB), recently highlighted this issue: "Our agenda is smaller; we have established a really high bar that it needs to have the potential to result in a significant improvement to the financial report," Black told the Financial Accounting Foundation (FAF) on August 13, 2024. Facing a supply-demand gap, impending retirements, and lengthy hiring processes, state and local governmental agencies are struggling. In response, GASB has: 1. Raised the bar for new projects 2. Focused on changes that significantly improve financial reporting 3. Reduced its agenda to about half its size from four years ago The interesting question: Will the Financial Accounting Standards Board (FASB), the accounting standard setting body for for-profit and not-for-profit organizations, follow suit?

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The IRS has finalized regulations on consistent-basis and basis-reporting rules for property acquired from a decedent. Learn more via the Journal of Accountancy. https://bdo-usa.co/3MLg4Ue

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Every few months someone writes a piece about the dying accounting industry. But it's not dying, the accounting profession has just decided that they want students to take a random 30-credit hours to sit for the CPA. With the addition of SOX, the industry continues to become more complex. Someone how accountants are supposed to be the front line of ESG, which has nothing to do with debits and credits. Most accountants I know are pretty smart, but the industry cannot get out of its own way.

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The Governmental Accounting Standards Board’s (GASB) seminal Statement No. 34 spans over 400 pages, with the “standards section” alone covering 56 detailed pages. This statement provides essential guidelines for Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments. Beyond the standards, the rest of the document is rich with additional insights and valuable information that complement the core guidelines, underscoring the importance of a thorough examination. #GASB #GovernmentAccounting #StatementNo34

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⚡Take Charge of Your Year-End Tax Planning.⚡ Get ahead of the curve to take full advantage of potential deductions, tax credits and incentives. Join our upcoming webinar on Tuesday, December 3 at 11 AM PT / 2 PM ET, where our experts will share essential year-end tax planning strategies tailored for privately held businesses and corporations. Ensure your tax strategy aligns with your financial goals for 2025 and is ready for any changes in the tax landscape with the new presidential administration. 🎫 Limited spaces available—reserve your spot today! https://ow.ly/J5qH50U5cEe #TaxPlanning #CorporateTaxes #TaxPolicy

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On April 25, 2024, the Tennessee General Assembly passed HB 1893/SB 2103, repealing the property base component of the franchise tax. This change allows taxpayers who have paid Franchise taxes based on the property tax base for the preceding three years to file a refund claim for the difference between the property tax base assessment and the calculated net worth base. Time is limited for affected taxpayers to file claims, with the deadline ending November 30, 2024, for returns filed since January 1, 2021. #TaxReform #Tennessee #FranchiseTax

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Many new accounting standard updates and SEC regulations are going into effect in 2024. Learn more in RSM’s annual effective date reminder. https://rsm.buzz/41do7Bz

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Uncover why local engineering firms are diving into sales tactics in this eye-opening read. Get a peek into their thought process and stay in the loop with market trends. Dive in here: https://okt.to/sLdmwC

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We are excited to share Wolf & Company, P.C. 2024 Annual Report, highlighting a year dedicated to investing in our people, clients, and communities. Key Milestones: First Acquisition: We welcomed our Data Solutions team and the InsightOut business intelligence platform, enhancing our data-driven service capabilities. Service Expansion: We broadened our offerings in Data Solutions, Fintech, Cybersecurity, Digital Assets, Outsourced Accounting Solutions, and International Tax to better serve our clients' evolving needs. Global Growth: Our team in the Philippines expanded, fostering increased collaboration and capacity while maintaining our commitment to quality client service. Employee Development: We invested in professional growth through training and leadership programs, building a strong foundation for our firm's future leaders. These achievements reflect our unwavering dedication to innovation, collaboration, and delivering exceptional value to our clients. #WolfandCo #AnnualReport2024 #Innovation #ClientSuccess #ProfessionalGrowth

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2024’s best firms to work for woman in the U.S……. The Accounting MOVE Project has released its 2024 report, highlighting firms that excel in advancing women within the accounting profession. The "Best CPA Firms for Women" list recognizes organizations committed to fostering inclusive environments and promoting female leadership. 2024 Best CPA Firms for Women: Abbott Stringham & Lynch Armanino BeachFleischman PLLC BerryDunn Bland & Associates P.C. The Bonadio Group BPM LLP Clark Nuber Eide Bailly Frazier & Deeter James Moore & Co. Moss Adams Rehmann LLC Schellman These firms have demonstrated a dedication to creating equitable workplaces, offering mentorship, and providing growth opportunities for women in accounting. For more details on the Accounting MOVE Project and its findings, visit the full report here: It's encouraging to see such progress in our industry. Let's continue to support and celebrate organizations that prioritize diversity and inclusion.

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Interesting read.

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