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Your Daily Accounting Briefing – 2024-06-19

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Let’s see what’s in the news today.

How Business Accounting Can Benefit from ChatGPT’s Latest Upgrade

JustPaid co-founder Anelya Grant gives her first impressions of GPT-4o and its potential for financial and other applications.

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Taking Account of Sustainability Efforts

Traditional accounting involves analyzing and reporting financial capital through a company’s balance sheets and income statements. But in the last decade, a new subset of accounting has emerged in…

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GGC EXTRA: Rebecca Hamm, CPA and Senior Lecturer in Accounting at the University of North Alabama

Watch our full interview!

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IRS cracks down on basis shifting by partnerships

The Internal Revenue Service is targeting the use of basis shifting between related parties as a way for partnerships to avoid paying taxes, setting up a new unit within the Office of Chief Counsel to develop guidance aimed at closing tax loopholes.

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INSIDE Public Accounting Monthly – June Issue Now Available

Want more great content like this? Subscribe to the IPA Monthly. For over a century, the pyramid model has been the foundation of accounting firm structures, leveraging a large base of entry-level staff who ascend to the top over many years. However, experts now argue that this model is becoming unsustainable. Demographic shifts, a shrinking […]

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