Accounting and finance employment is projected to grow 4% from 2022 to 2032, with about 126,500 openings for accountants and auditors each year on average.1 But attracting and retaining talent is proving difficult for several accounting recruiters and accounting talent acquisition specialists. Many of these openings are expected to result from the need to replace talented employees who have either switched occupations or exited the labor force (e.g., retirement). Further adding to the issue, fewer CPA examinations are taken each year as the appeal to a career in accounting declines among colle ..read more

Second Round of Section 48C Applications Have Opened The Internal Revenue Services (IRS) has released Notice 2024-36, which provides taxpayers the timeline for beginning the second round of the Section 48C Advanced Energy Project Credit (Section 48C) allocations. The Section 48C program is an allocation-based credit, funded with $10 billion of tax credit allocation by the Inflation Reduction Act (IRA). The tax credits were set to be awarded in two tranches with the first $4 billion being made available for concept paper review last summer and allocations made in March of this year. The IRS has ..read more

As the saying goes, everyone makes mistakes. Just ask the Los Angeles Lakers, who recently unveiled the Kobe Bryant statue, which featured several easily avoidable spelling errors and mistakes at the base of the statue. While the Lakers are currently working to correct the typos, in the accounting world, the price of these unintentional errors and lack of oversight (due to talent shortages and/or strained capacity at the senior management or executive level) can be especially costly — financially, operationally and reputationally. Over the past two years, we have seen companies, including some ..read more

Join the Cherry Bekaert Energy Tax Credits & Incentives Advisory team as we provide details on tax credits and incentives that are rewarding to not-for-profit organizations. In 2023, the Inflation Reduction Act (IRA) allowed tax exempt and governmental entities to take monetize clean energy tax credits and incentives, even if your organization does not pay federal taxes. These tax credits and incentives aid to encourage growth and development of clean and efficient energy and practices. Activities that can qualify include: Investments in alternative energy technologies such as solar, wind ..read more

Over the past four decades, enterprise resource planning (ERP) solutions have evolved to incorporate new technologies and have expanded their reach to support back-end business processes as well as front-office functions, driving massive efficiencies across business operations enterprise-wide. By 2025, the ERP market is expected to exceed $49.5 billion, with defense and aerospace, retail, and government utility sectors driving its growth.1 With the rapid adoption of AI, cloud technology, and advanced integrations, ERP systems will continue to broaden their capabilities, representing 50% of glo ..read more

The Financial Accounting Standards Board (FASB) issued two Accounting Standard Updates (ASUs) in the first quarter of 2024. The Government Accounting Standards Board (GASB) did not issue any new GASB Statements in the first quarter of 2024. The latest issue of the Rundown features a summary of the new standards issued in the first quarter 2024. For summaries of standards issued in previous periods, view our previous rundowns here. In addition, we’ve got a comprehensive listing of all standards newly effective for calendar year-end December 31, 2024 broken down by public business entities and p ..read more

This video will focus on Microsoft tools that will help you streamline processes, make data-driven decisions and realize efficiencies using powerful automation capabilities. Utilize generative artificial intelligence (AI) to enhance workflows in your organization using Microsoft Office 365 tools. Streamline your business processes and automate repetitive tasks in the cloud with Microsoft’s Power Platform. Discover how Microsoft Azure Data Lake can help you analyze all of your data in a single place with no artificial constraints. Learn how you can get your modern applications on the Azure Mar ..read more

The German Mittelstand and U.S. companies are being urged to take action on sustainability and carbon reporting laws. In both countries, the laws require companies to disclose their carbon footprint, energy consumption and other environmental impacts. Failure to comply could result in fines and reputational damage. Watch this video to learn more about what actions companies can take now to avoid potential legal and financial consequences.  We’ll also discuss ways to embrace sustainability as a key driver of innovation and competitiveness. Learning Objectives: Understand the sustainabilit ..read more

Download Whitepaper The impact of artificial intelligence on how we live, work and do business has been undeniable for over a decade. Its practical applications range from suggesting the next sen­tence when crafting emails to producing lifelike animations, from enabling smart and interconnect­ed manufacturing robots to efficiently distribute workloads on assembly lines to predicting customers’ preferences or even helping land a plane. Artificial intelligence is a broad term for technology that builds upon pattern recognition to make pre­dictions, which are the foundation of robotic process aut ..read more

What Does Transferable Value Really Mean? For a closely held business, transferable value is simply what a business is worth to someone else without its original owner. It is important to not confuse it with profit−your company may bring in millions of dollars of profit each year, but this does not necessarily mean it has transferable value. True transferable value for a business is determined not by how well you run the business, but by how well the business runs without you. Business owners are not always aware that transferable value is more than a formula involving multiples of earnings or ..read more