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Isaac M. O'Bannon

Managing Editor

isaac.obannon@cpapracticeadvisor.com

Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies. Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran. Email: isaac.obannon - @ - cpapracticeadvisor.com

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AICPA

Accounting Firms Saw 9.1% Median Growth in Revenue in 2022

The 1,117 firms participating in the survey reported a fiscal year 2022 median growth rate of 9.1% in net revenue over the previous year, according to the 2023 National Management of an Accounting Practice (MAP) Survey.

Artificial Intelligence

Xero Adds GenAI-Driven Search Function

The use of GenAI-driven search in Xero Central leverages Coveo’s platform and works by integrating generative answers.

Firm Management

IT Auditors See Cyber Risks, Data Privacy and Talent Shortages as Top Challenges

A new survey conducted by Protiviti and The Institute of Internal Auditors (IIA) reveals which risks are keeping IT auditors up at night.

Advisory

Grant Thornton Sees Record $2.4 Billion in Revenue in FY 2023

The firm realized revenues of $2.4 billion for the fiscal year ending July 31, 2023, up from approximately $2.3 billion in revenue in 2022.

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Small Business

Retail Group Sees Slowdown in Import Cargo

Consumer spending grew 1.8% year over year in the second quarter rather than the 2.3% originally estimated, and NRF said last month that retail sales for the year could come in at the low end of its forecast.

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Accounting

SYSPRO ERP and SugarCRM Partner to Optimize Operations and Revenue Growth

The joint SYSPRO ERP and SugarCRM offering delivers two-way sharing of information from both platforms.

Accounting

Paystand Adds Integration with Microsoft Dynamics 365 Business Central

This integration gives Microsoft Dynamics 365 Business Central customers a modern Payments-as-a-Service mode that is fully digital and intuitive.

Accounting

FASB Issues Disclosure Improvements in Response to the SEC’s Disclosure Update and Simplification Initiative

The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics.

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Advisory

Financial Service Leaders Confident in Digital Fitness of Sector, But Worry Over AI

The study defines “tech anxiety” as the feeling senior leaders have as a result of the rapid pace of advancements in technology that are causing concern when it comes to how their business operates.

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Accounting

Thomson Reuters Launches ONESOURCE E-Invoicing for Multinationals

The platform is designed to streamline electronic invoicing management for multinational businesses who are being mandated to comply with e-invoicing regulations around the world.

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Small Business

U.S. Home Prices Surge in 2023

The four most valuable metro areas have remained largely unchanged over the past five years: New York, Los Angeles, San Francisco and Boston.

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Small Business

U.S. Economy is Resilient, Says Retail Economist

The U.S. economy is continuing to grow even as labor disputes across the country and uncertainty created by Congress add to the ongoing challenges of inflation and high interest rates