Mon.May 13, 2024

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Your clients don't value what you do

Accounting Today

Joe Woodard makes the case that it's accountants who need to change their ideas around value, not clients.

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Avalara and Shopify Expand Partnership for Global Tax Compliance

CPA Practice

Avalara, Inc. , a provider of cloud-based tax compliance automation for businesses of all sizes, has expanded its partnership with Shopify Inc., a provider of essential internet infrastructure for commerce, by joining the Shopify Tax Platform. Through the expanded partnership, Shopify merchants of any size can easily manage and automate global tax compliance with Avalara.

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PCAOB OKs auditor responsibility and quality control standards

Accounting Today

The Public Company Accounting Oversight Board approved two new standards on a firm's system of quality control and the general responsibilities of the auditor in conducting an audit, albeit with pushback on the QC standard from one board member.

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Some Americans Plan a ‘Slow-Roll’ Into Retirement

CPA Practice

Tim Grant Pittsburgh Post-Gazette (TNS) Often when people aged 50 or older contact her, Pittsburgh financial coach Shay Port said the conversation starts with them declaring that they will never be able to retire. “They say things like, ‘I know I will have to work the rest of my life,'” Port said. “And that’s what I try to help them with — actually being able to retire at some point.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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Navigating Potential Changes to Corporate Tax Rates

Insightful Accountant

Small business owners and tax practitioners are debating whether to elect S corporation status before the potential corporate tax rate increase in 2025 due to the expiration of TCJA provisions.

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Bennett Thrasher grows beyond Atlanta roots

Accounting Today

The Top 100 Firm has been increasing its workforce and footprint despite talent shortages, growing 17% in the first quarter of the year.

More Trending

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Art of Accounting: Memoirs of a CPA

Accounting Today

The book tells the story of how Ed Mendowitz became a CPA, built his practice and shares many successes and some disappointments.

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Press Release: KROST Acts as the Exclusive Financial Advisor to United Filters International in its Sale to ENPRESS LLC.

KROST

Los Angeles, May 13, 2024 – United Filters International (UFI), a recognized leader in the design and manufacture of an expansive range of liquid filtration solutions, was recently sold to ENPRESS LLC, a leading manufacturer of composite pressure vessels and water filtration technologies. KROST was as the exclusive financial advisor and the terms of the Read the full article.

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Inadequate penalties incentivize malpractice in auditing

Accounting Today

Two recent cases show how a lack of rigorous oversight and real consequences is impacting the profession.

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Monday Morning Accounting News Brief: Details on Grant Thornton’s PE Deal; What Is ‘Presented Fairly’ Anyway? | 5.13.24

Going Concern

Hey, people. Monday! Woo. Let’s get this over with. Look out, Big 4. AT&T is coming for your recruits : AT&T Woos Accounting Students, Bypasses Big Four Training Ground AT&T Inc.’s top accountant is confronting a competitive job market by rethinking the company’s traditional reliance on large CPA firms as a training ground for new hires, taking her recruiting pitch on-campus instead.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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U.S. Office of Management and Budget Revises Uniform Grants Guidance

Cherry Bekaert

What it Means for Federal Agencies and How to Comply Before Implementation Date For the first time in more than 10 years, the U.S. Office of Management and Budget (OMB) released a long-awaited update to its Uniform Guidance, Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The intent of these updates, is to help grant recipients “focus more on the people they serve and to deliver results for their communities.

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The PCAOB Made Its Own Quality Control Standard and It Took Only 22 Years

Going Concern

The PCAOB announced today that after the more than 20 years since they were forged out of the ashes of the Enron debacle, they’ve finally developed their own quality control standards. Existing quality control standards were developed by the AICPA prior to 2002 and they just couldn’t have that. “Given the significant changes in the auditing environment since that time, QC has been a top modernization priority for the PCAOB,” reads the press release.

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Speaker Q&A: Dr Mhairi Aitken, The Alan Turing Institute

Accounting Insight

Accountex are excited to welcome Mhairi to the show for the very first time. Dr Mhairi Aitken is an Ethics Fellow at The Alan Turing Institute (the UK’s national institute for AI and data science), a Visiting Senior Lecturer at Queen Mary University of London and an Honorary Senior Fellow at the University of Wollongong, Australia. She is a Sociologist whose research examines social and ethical dimensions of digital innovation.

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App Aware: TrulySmall Accounting

Insightful Accountant

TrulySmall Accounting is a product of Kashoo, a software developer that also produces Kashoo Accounting. As the name suggests, TrulySmall is designed for truly small businesses.

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Digital Transformation in Accounting: Why It’s Essential for Modern Firms

Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

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The demand order is set aside as issued post cancellation of GST registration and opportunity of being heard was not given

VJM Global

As held by Hon’ble High Court of Madras In the matter of M/s. Thirumurugan Traders (Defunct) Vs The Deputy State Tax Officer – I, (WPW.P.No.8378 of 2024) The petitioner was registered under GST and got his GST registration cancelled with effect from 27th Feb, 2019. The order was issued against the petitioner in Form GST DRC-07 for the period of July, 2017 to March, 2018.

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What Is Payroll Tax? A Breakdown for Business Owners

inDinero Tax Tips

What is payroll tax? It’s money collected from employee wages and used to fund Social Security, Medicare, unemployment insurance, and other government programs. Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself.

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The Inflation Storm: How It Affects Your Small Businesses and 5 Survival Tips

IgniteSpot

Inflation, the silent beast that lurks in the shadows of economic landscapes, can wield significant impacts, particularly on small businesses. As prices rise, budgets strain, and margins tighten, the challenges become more pronounced. Here, we uncover the top five ways inflation impacts small businesses and offer five survival tips to weather the storm.

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What to wear to the office in 2024?

Reckon

There’s no doubt that the fashion trends for office and professional workwear has shifted dramatically over the last 20 years. Many young office workers in junior roles used to don suits just to sit in a cubicle and wear out the seats of their overpriced pants. Generally speaking, this is no longer the case. So, in post-pandemic world where we’ve become accustomed to working from home in our jim-jams and have billionaire CEOs trotting around in hoodies, what should you be wearing to work now?

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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What Is Payroll Tax? A Breakdown for Business Owners

inDinero Tax Tips

What is payroll tax? It’s money collected from employee wages and used to fund Social Security, Medicare, unemployment insurance, and other government programs. Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself.

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The demand order is set aside as issued post cancellation of GST registration and opportunity of being heard was not given

VJM Global

As held by Hon’ble High Court of Madras In the matter of M/s. Thirumurugan Traders (Defunct) Vs The Deputy State Tax Officer – I, (WPW.P.No.8378 of 2024) The petitioner was registered under GST and got his GST registration cancelled with effect from 27th Feb, 2019. The order was issued against the petitioner in Form GST DRC-07 for the period of July, 2017 to March, 2018.

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Apple Pay

Canopy Accounting

What's new: We are excited to announce that Apple Pay is now available as a payment option in the Canopy Client Portal App, in addition to ACH and credit card payments. With this update, clients using iPhones or iPads can enjoy the seamless convenience of Apple Pay for settling their invoices directly within the app. This feature is powered by Canopy Payments and is available for one-time payments.

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Menzies recognised as Sunday Times’ Best Places to Work 2024

Menzies

Menzies LLP - A leading chartered accountancy firm. Menzies LLP were listed as one of Sunday Times’ Best Places to Work 2024, in the ‘Big Organisation’ category. Over 70,000 businesses who entered Sunday Times’ Best Places to Work 2024 were reviewed, so Menzies are delighted to have been listed, and to have been named amongst the top 1% of companies who entered.

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Unlock The Power Of The CFO Toolkit

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

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Where’s Your GAAP: Transportation and Logistics Companies Need Clean Financials to Grow and Sell

Anders CPA

When I open a new client’s books to look at net income, I usually see a rollercoaster. Huge profits on some months, alternating with huge losses on others. “I thought it was a great month,” the CEO will tell me. “I don’t know how we lost that much.” It’s always a relief when I can explain to them: “You probably didn’t.” A net income sheet that has more ups and downs than an amusement park usually means one thing: The company’s bookkeeper is not using GAAP – generally accepted accounting principl

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ConvergenceCoaching launches 2024 'Anytime, Anywhere Work' survey

Accounting Today

The 2024 ATAWW survey is fielding responses from both firm team members and firm leadership about remote, hybrid and flexible work practices.

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Better off on Xero: Steps to process and finalise payroll

Xero

With just over six weeks remaining in FY24, now is a great time to think about your EOFY preparation. A good place to start? Preparing your payroll to make finalisation as easy as possible come July. Completing your EOFY is better off on Xero. To help you get you through from start to finish, we’ve included some handy steps to guide you through the process. 1.

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Trump pledges across-the-board tax cuts if he returns to office

Accounting Today

Whichever candidate wins the White House in November will have to contend with tax negotiations in 2025 with the personal income tax cuts in Trump's 2017 law set to expire unless Congress acts.

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Pricing for Profit: How to Set, Negotiate, and Succeed

Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

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Trump Pledges ‘Upper Class’ Tax Cut If He Returns to White House

CPA Practice

By Ranjeetha Pakiam, Laura Davison and Hadriana Lowenkron, Bloomberg News (TNS) Donald Trump pledged to double down on tax cuts if he wins a second term as president, drawing a distinction with President Joe Biden who has called for tax hikes on businesses and the richest Americans. “Instead of a Biden tax hike, I’ll give you a Trump middle class, upper class, lower class, business class big tax cut,” Trump said at a rally Saturday in Wildwood on the New Jersey shore.

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