Recently, an AccountingWeb reader asked, “What are the main differences between a for-profit and a not-for-profit company business structure?” First, it’s helpful to know that there are different varieties of for-profit and nonprofit companies. For example, a for-profit might operate as a sole proprietorship or general partnership. Or, it might
How well did your firm’s accounting technology support your team and clients during the pandemic? In many accounting firms, the technology plan quickly shifted to what can best be described as “snatch and grab” in March of 2020. Of course, doing the best you can during a worldwide pandemic isn’t
IRIS Software Group (IRIS), a global accounting software provider, has acquired Conarc, a US document management software provider for CPA firms. Financial terms of the deal were not disclosed. Founded in 1996, Conarc’s iChannel software solutions were designed to enable CPA firms to connect all information in one place, allowing
MYOB is an online application that includes a variety of features. The software is developed to assist various start-ups and big enterprises. One could have their GST returns filed, PAYG reports created, gets customized invoices, track one’s expenses, and avail payroll services. It can save a lot of time for
Client advisory services (CAS) and virtual CFO services have been around for years, but an awareness of the benefits of both has grown tremendously over the past few years, especially in the early days of the COVID-19 pandemic. In times of economic uncertainty, clients want and need guidance from their trusted advisors,
Intuit the global technology platform that makes TurboTax, QuickBooks, Mint, and Credit Karma, has agreed to acquire Mailchimp, a global customer engagement and marketing platform for growing small and mid-market businesses. The planned acquisition of Mailchimp is valued at approximately $12 billion in cash and stock. With the acquisition of
As tax exemptions are targeted, life insurance policies could offer high-net-worth individuals a different means for protecting their estates. We’ve been warned about what’s to come for our clients—and maybe even ourselves. While on the campaign trail, now Pres. Joe Biden proposed reducing the estate tax exemption to $3.5 million
QuickBooks is a packaged deal that offers you advanced tools and features that manage the finances of your business. While creating a new account with QuickBooks Desktop, you will need to enter several details to track your daily transactions. This also includes your real-time account balance for the current day.
Do you provide information technology services for your attest clients? Or does the firm that performs your attest work also provide information technology services? Those services may now cause independence concerns. This article highlights the changes and how to approach the new guidance. The ET Section 1.295.145 of the AICPA Code
For decades, accounting firms have generated organic growth and profits by offering essential services such as bookkeeping, tax and audit. However, the services that got your firm where it is today won’t necessarily get you to where you want to be in the future. To remain relevant and meet client
