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??Some helpful crypto info! ??Industry experts Randy Johnston and Brian Tankersley, CPA, CITP, CGMA explore the implications of the Crypto Summit held at the White House on March 7, 2025. ??Their podcast discussion focuses on the event’s potential impact on accounting, reporting, taxes, and accounting firms. From CPA Practice Advisor: "Welcome to today’s Accounting Technology Lab. We want to talk to you about the strategic cryptocurrency reserve, the new announcement and executive order creating the US digital asset stockpile. Now Brian and I have had the good fortune of teaching you about cryptocurrency and smart contracts and blockchain in prior Accounting Technology Labs. Today’s episode is not to teach you those things, but to give you a little bit of background on what’s going on now…" Hear the podcast, watch the video, or read the full transcript here: https://lnkd.in/eqMPSReE #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #Technology #Tech #Cryptocurrency #Crypto #Blockchain

??Accountant demand increasing? ?The departure of accountants and auditors from the Internal Revenue Service is creating opportunities in a labor market eager for their expertise in corporate and international tax. ????????Employers such as state regulators, public accounting firms, and Fortune 500 companies are seeking the skills these former IRS staffers offer (potentially benefiting the accounting industry, which has faced challenges in talent training and retention). From Bloomberg Tax: "As many as 12,000 IRS workers have been forced out through Trump administration adviser Elon Musk’s 'deferred resignation' plan and the removal of federal probationary employees. Thousands more could join them. As many as half of all IRS workers could be cut under a Trump administration plan, flooding the jobs market with tax and accounting professionals." Read the full article here: https://lnkd.in/ehfUt4bs #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #InternalRevenueService #IRS #Corporate #International #Challenges #Skills #Labor #Talent #Opportunity

??COVID-19 shutdowns impacted University of North Carolina at Chapel Hill grad Melody Z.'s musical ambitions, but accounting helped her find a way forward. ?????Here's how Zhuo went from performing Puccini operas in Italy to working at EY—and how accounting enables her to continue exploring her passion for singing. From The University of North Carolina at Chapel Hill: "'There was this built-in enthusiasm that people at UNC Kenan-Flagler had to learn about other experiences and views that made it all worthwhile,' says Zhuo. 'There was willingness and open hearts brought to the table.'" Read the full article here: https://lnkd.in/eP8SYigF #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #NorthCarolina #UNC #EY #Flexibility #Music #Passion #Singing #Performance

??Accounting Today released their 2025 Top 100 Firms and Regional Leaders report. ???Find out which firms claimed top 25 status by achieving the fastest growth rates over the past year. ????Did your firm make the cut? ????Spoiler Alert: One firm experienced 310% growth! From Accounting Today: "The five fastest-growing firms firms [sic] are all backed by private equity; three of them are firms that acquire[d] individual CPA firms and allow[ed] them to operate to a certain degree independently (Crete PA, Ascend and Springline), while the No. 2 firm, Prosperity Partners, has used PE money to accelerate its growth." Read the full article here: https://lnkd.in/eGhpWutD #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #Fast #Growth #Success #PrivateEquity #PE

??The tax and accounting industry is quickly evolving due to advancements in technology and AI.???This has created a gap between conventional academic training and practical needs.?????Nick Boscia, CPA, EA, and co-owner of Boscia & Boscia PC, identifies five critical areas to align education with industry demands, ensuring students are equipped for a successful career in the changing landscape. From CPA Practice Advisor: "Remember, accounting is more than just numbers—it’s about helping people and businesses thrive. By embracing technology, building relationships, and staying adaptable, future accountants can create fulfilling careers that blend growth, balance, and purpose." Read the full article here: https://lnkd.in/eMTeWd-q #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #ArtificialIntelligence #AI #Innovation #Academic #Training #Education #Industry #Change

??At some universities, earning an accounting degree is gaining extra paths.???California State University, Fullerton recently launched a new master's degree program in accountancy that can be completed in as little as 10 months.?????Assistant professor Megan Grady says the program is designed to give students the time and flexibility to learn in the field via internships. From CSUF News: "'The idea behind the program is to allow students to ‘learn and earn’ in an out-of-classroom experience,' Grady said. 'Additionally, the cohort model offers students the opportunity to easily build a network among peers as they go through the program together.'" Read the full article here: https://lnkd.in/e5NrQvDi #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #Education #Program #Internship #CSUF

???New standards????Until recently, generally accepted accounting principles didn’t offer guidance on environmental credits, but the Financial Accounting Standards Board (FASB) is trying to change that.???If accepted, their newly proposed Accounting Standards Update (ASU) would add definitions of both environmental credits and related environmental credit obligations. From RSM: "An environmental credit obligation would be defined as a regulatory compliance obligation arising from existing or enacted laws, statutes, or ordinances represented to prevent, control, reduce or remove emissions or other pollution that may be settled with environmental credits. Obligations within the scope of ASC Subtopic 410-30 would not be environmental credit obligations." Read the full article here: https://lnkd.in/eTDuYNg7 #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #Standards #Definitions #Environmental #Credits #Obligations #Guidance

????Busy, busy, busy season’s in full swing! ????We hope your teams are shining during crunch time this year. ?Onward, tax pros! ???Deloitte acquired #SaaS #technology company SimplrOps, Inc.???Thomson Reuters won the first major #AI #copyright case in the U.S. ??The AICPA is preparing to potentially become part of the U.S. Securities and Exchange Commission. Despite return-to-office #trends, the #BigFour are sticking with #hybrid work. #Accounting enrollment is rising at universities. And firms are still trying to maximize the #benefits of AI adoption. Brigham Young University won Deloitte’s 2025 FanTAXtic national case study #competition. Internal Revenue Service layoffs are taking place and #compliance challenges are emerging per various #tariff proposals. ??As always, we’re wishing the accounting community well, especially while getting #TY2024 out the door. ???If you need some coffee break distractions, you can always scroll the #financial #headlines in February’s Tax Pro Roundup!

??Got a few minutes to spare? ????Thomson Reuters has five time management tips to save you tons of time this busy season. ??See how automation, the Eisenhower Matrix, and the Pomodoro Technique can help your team work faster. From Thomson Reuters: "One of the most effective time management tips for tax professionals is to prioritize tasks using the Eisenhower Matrix. This framework helps you categorize your tasks into four distinct quadrants based on their urgency and importance. By understanding these categories, you can make more informed decisions about where to focus your time and energy." Read the full article here: https://lnkd.in/eu9FHyeH #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #ArtificialIntelligence #AI #Innovation #Automation #Efficiency #Teamwork

??Is accounting’s role too small in today’s financial landscape? ??Industry experts Garry Carnegie, Lee D. Parker, and Erin Twyford examine what applications accounting could have beyond its narrow definition. ??Their collective work makes the case for reframing accounting as a more dynamic discipline with functions that expand its value in the world. From The CPA Journal: "For accounting to retain its social and community legitimacy and maintain the trust of stakeholders, it needs to reflect and account for organizations not only in their economic contexts but also in their social contexts. Accounting is not solely the technical calculative execution of accounting processes." Read the full article here: https://lnkd.in/e5UFYDf2 #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance?#Advisory #Audit #Auditing #Academia #Educators #Social #Moral #Change