News

https://www.journalofaccountancy.com/news/2023/jun/historic-global-standards-sustainability-reporting-released.html

A few clicks of the mouse could save practitioners a ton of time by assisting them in determining whether they need to apply the requirements of AR-C Section 70, Preparation of Financial Statements, when their bookkeeping or accounting services result in financial statements.

Today's workforce is made up of four distinct generations. Understanding what motivates each of them can help companies more effectively recruit, manage and retain strong teams.

Whittlesey continues its long‐standing tradition of community service through a range of projects across Connecticut and Western Massachusetts. For over a decade, Whittlesey volunteers have stepped away from their desks to participate in various projects that directly affect the communities where they live and work. This year, more than 100 Whittlesey team members collaborated with the Bushnell Park Foundation, the Diaper Bank of Connecticut, and the Boys and Girls Club of Greater Holyoke in a day dedicated to creating positive and tangible impacts within our local communities. At Bushnell Park and the Boys and Girls Club of Greater Holyoke, teams engaged in general park clean‐ up efforts, including spreading mulch, planting new flower beds, and repairing and painting fences. Meanwhile, volunteers at the Diaper Bank of Connecticut assisted in sorting and repackaging diapers before distributing them to families in need. "Our commitment to service extends far beyond our professional obligations," says Drew Andrews, CEO and Managing Partner at Whittlesey. "We believe in giving back to the communities we are part of, and our annual Community Day is a testament to this belief. We are honored to partner with these remarkable organizations this year and look forward to the impact we can make together." Whittlesey's Community Day is part of a series of initiatives the firm undertakes throughout the year, emphasizing its core belief in the power of community engagement. The firm takes pride in its enduring partnerships with diverse nonprofit organizations and the real‐world impacts they create together.

Whittlesey announced the promotion of Greg LaCasse, CPA, to Partner. Greg is the newest member to join the growing leadership team.

Despite interest in AI by business leaders, CFOs have bigger concerns, according to new data from Deloitte.

The 150-hour education requirement for CPA licensure has become a target for some who see it as an easy way to ease the talent pipeline issues facing the profession.

Failure to plan is planning for failure. That adage rings especially true for accounting firms in these modern times. Buffeted by hurricane force winds of change, firms must ponder how to proceed through uncharted, unsettled waters.

A good website that meets client expectations is fundamental for accountants and bookkeepers in 2023. It’s a way to generate and convert leads, a place for existing clients to access knowledge and support, and a modern-day equivalent to ‘word of mouth’.

Passing your practice on to the next generation sounds easy, but far too often, accountants bury their heads in the sand rather than planning for the future of their firm and their colleagues.

Mark Pires, CPA and senior manager at CironeFriedberg, LLP, joins the prestigious list of accomplished awardees of the 2023 Fairfield County 40 Under Forty award. The award recipients were announced and celebrated on June 14 at The Point at Norwalk Cove, in Norwalk, Conn.

A new or growing business may need to devise creative recruitment strategies to reach the most qualified individuals. In today's labor market, many small and medium-sized businesses face additional hiring challenges thanks to recent inflation and economic fluctuations, which have created uncertainty for both employers and job seekers.

From the great resignation to quiet quitting and the lost generation of talent, a perfect storm has capsized the profession’s attempts to solve the skills shortage. While there is hope, it’s not going to be easy.

Very often life transitions trigger in people a desire to seek more fulfillment in their lives. Such transitions can be the beginning of a new year or entering the second half of life. Starting a new career can represent an overwhelming task, one that is filled with uncertainty and requires a lot of time and effort.

With just minutes left in the 2023 Connecticut legislative session, Connecticut officially joined the first states to adopt the 30-month CPA Exam testing window recommended by NASBA.

Here’s how CFOs can use their unique skill set to play an active role in strengthening company culture.

ChatGPT is the latest in a very long line of artificial intelligence (AI) advancements to result in much scaremongering.

Framing conversations, using emotional intelligence, and bringing in a mediator if needed can help resolve business workplace conflict.

Thanks to the hoopla surrounding ChatGPT and other generative artificial intelligence (AI) tools, private and public investors are caught up in a funding frenzy recently characterised by the FT as “the latest Californian gold rush”.

Carlton Helming, founding principal of Helming & Company, P.C., recently wrote the cover story "Finding Profit in a Failing Business Requires Dedication to Change" for the Turnaround Management Association's Journal of Corporate Renewal. The organization has 57,000 members internationally.