4 days ago · The latest accounting news & information for the public accounting profession, along with practice management advice.

Apr 5, 2024 · Consulting accounts for a plurality of the Top 100's revenue, but that's largely because that's the case among the billion-dollar firms, where it accounts for 46%; the smaller cohorts are much less interested, with consulting representing only 23% of revenue at firms with between $100 million and $1 billion in revenue, and a mere 15% at firms with less than $100 million; they much prefer tax ...

Jan 2, 2025 · Reshaping the pyramid. Article by Daniel Hood. Consider the pyramid. For much of its modern history, the public accounting profession has relied on the pyramid — at least metaphorically — in building both the ownership and management structures of CPA firms, and it has proven a remarkably enduring model, to the point where it was effectively the only model from the 1930s up until the late ...

This annual ranking of the leading national and local firms also includes data analysis, as well as their chief executives' take on the major issues facing their firms, and their strategies for success for 2024 and beyond.

Dec 24, 2024 · On Monday, a panel of the U.S. Court of Appeals for the Fifth Circuit granted a stay of a preliminary injunction by a federal district court in Texas that had temporarily paused a requirement for filing BOI reports with FinCEN under the Corporate Transparency Act of 2019 in the case of Texas Top Cop Shop Inc. v. Garland.That means most companies are once again subject to the requirement for ...

Jan 2, 2025 · In the Justice Department's application for a stay of the injunction, which was issued by a federal district court in Texas last month, the DOJ explains the rationale for the beneficial ownership requirement. "Congress found that malign actors often conceal their ownership of corporations and other entities to facilitate illicit activities such as money laundering, tax fraud, human and drug ...

A recent search through the archives reminded us that Accounting Today has been ranking the top firms in the profession for almost 30 years. And just a quick glance through the names on those old lists — many of them long vanished, or surviving only as an initial in a much larger conglomeration of firms — is enough to prove that change is a constant.

Jan 2, 2025 · As the first CEO of color for NYSSCPA (and a past national president of NABA), I suspect much of my legacy will focus on that. But, while I am quite proud of that, I also would like my legacy to be that I was a staunch advocate for the accounting professional and the public, and that I helped transform the profession for the best and provided opportunities for future generations of accountants.

Nov 7, 2024 · The report presents the IRS's current financial position and discusses other financial topics, including the programs, accomplishments, challenges and management's accountability for the resources entrusted to the IRS. "I am proud of the transformation work we have done in FY 2024, and I am committed to completing the additional work that remains on many fronts: maintaining the outstanding ...

Jan 6, 2025 · FASB released the standard on disaggregation of income statement expenses in November, requiring public companies to disclose, in their interim and annual reporting periods, more information about certain expenses in the notes to financial statements in response to demand from investors for more detailed information.. The update originally said that the amendments are effective for public ...