Summit CPA
JULY 23, 2024
Operations professionals face countless decisions, especially around personnel: When is it time to hire? What position should we prioritize? How many contracts do we have to sign to justify the hire?
TaxConnex
JULY 23, 2024
The nature of sales tax audits has changed over the last several years, post-Wayfair. Prior to Wayfair, a significant component of sales tax audits was focused on use tax. Specifically, tax due on purchases that were not charged since the vendor did not have nexus in the state of the sale. Today, more and more companies have an obligation to charge sales tax, and use tax is less of an issue.
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BurklandAssociates
JULY 23, 2024
It’s not just hackers taking notice. Customers, partners, investors, regulators, and insurers are all keeping a close eye on your cybersecurity controls. The post Why Cybersecurity is an Essential Investment in Your Startup’s Future appeared first on Burkland.
Accounting Today
JULY 23, 2024
Individuals and businesses in the affected counties now have until next Feb. 3 to file various federal individual and business tax returns and make tax payments.
Speaker: Danny Gassaway and Wayne Richards
Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.
CPA Practice
JULY 23, 2024
Investors, accounting firms, and other stakeholders have until Oct. 21 to provide comments on a new proposed Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB) on Tuesday that aims to clarify rules on derivative accounting. Because of the broad interpretation of the definition of a derivative in Topic 815, Derivatives and Hedging , many types of contracts are being evaluated and potentially accounted for as derivatives, the FASB said.
Accounting Today
JULY 23, 2024
Preliminary results of a recent survey suggest that the location — and sources — of dissatisfaction in accounting firms may be surprising.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
JULY 23, 2024
The largest audit firms in the U.S. are using generative artificial intelligence mostly on administrative and research activities right now, but the likelihood for GenAI to be used down the road in certain aspects of planning and performing the audit is high, according to a report released by the Public Company Accounting Oversight Board (PCAOB) on July 22.
ThomsonReuters
JULY 23, 2024
A major global IT outage occurred on July 19, 2024, affecting numerous industries worldwide. The incident was attributed to a software update from cybersecurity firm CrowdStrike , which resulted in widespread system issues. Outage range and time to recover The outage had far-reaching consequences, affecting airlines, banks, healthcare providers, and other critical services.
CPA Practice
JULY 23, 2024
By Anna Helhoski, NerdWallet, via Paradise Post, Paradise, Calif. (TNS) Despite the prevalence of TikTok videos and recent articles detailing stories of individual college graduates struggling to find good jobs, the data tells a different story. After all, the overall labor market is stronger than it’s been in decades. And Zoomers who recently graduated from college are certainly better off, in most respects, than previous generations of new grads.
AccountingDepartment
JULY 23, 2024
In today's competitive business landscape, staying ahead of the competition requires more than just a great product or service. Entrepreneurs, small business owners, and financial analysts must focus on tracking key financial metrics to ensure their company's growth and financial health.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Accounting Today
JULY 23, 2024
Going concern opinions have slowly decreased over the last two decades, with the exception of spikes during the 2008 financial crisis and the years of the COVID-19 pandemic.
KROST
JULY 23, 2024
In the event of your death, a life insurance policy ensures that your family has the financial resources to maintain their standard of living. This is the number one reason why individuals consider life insurance. Although it’s the number one reason, it’s not the only reason. Life insurance can also be an essential estate planning Read the full article.
Xero
JULY 23, 2024
This guest blog was written by the team at GoCardless. Running a small business can mean moving between being a general manager to a customer services contact, marketing lead and, in some cases, debt collector. Without the proper processes in place, managing payments can take up too much time and even result in bigger problems. In fact, the Office of National Statistics shared that poor cash flow is responsible for up to 90% of new businesses failing.
Withum
JULY 23, 2024
In the ever-evolving landscape of technology, AI has emerged as a powerful tool, helping employees win back minutes, if not hours, in their workdays, and holding immense yet-to-be-realized potential for transforming industries. A current edge in AI at work is that it often encompasses the combined knowledge of multiple professionals, surpassing what a single human can retain.
Speaker: Jennifer Hill
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
Accounting Today
JULY 23, 2024
The Public Company Accounting Oversight Board has released the result of initial outreach efforts regarding auditors and generative AI.
CPA Practice
JULY 23, 2024
By Hallie Lauer, Pittsburgh Post-Gazette (TNS) The Pennsylvania Supreme Court will consider Pittsburgh’s reliance on a tax levied on out-of-town athletes and performing artists—the so-called “jock tax”—following a lower court’s ruling earlier this year that the tax is unconstitutional, a decision that could have lasting budgetary implications for the city.
Accounting Today
JULY 23, 2024
The landscape of talent acquisition is rapidly shifting due to intense competition for top talent and the rise of the gig economy.
Withum
JULY 23, 2024
Last Friday over 5,000 flights across the world had to be cancelled because of an alleged single computer misstep by a single company. A few weeks ago, I left my house to run errands in my neighborhood. After a few minutes, I realized I had forgotten my iPhone, and a deep feeling of dread came upon me should I have an accident and need to call someone.
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
Menzies
JULY 23, 2024
Menzies LLP - A leading chartered accountancy firm. Very few would have predicted the implausible combination of Brexit and COVID, and the momentous impact they would have in recent years. Since March 2020, food and drink manufacturers, producers and distributors have been forced to continually adapt to the ever-changing landscape. That remains true to this day, especially surrounding sustainability.
Withum
JULY 23, 2024
The Defense Federal Acquisition Regulation Supplement (DFARS) outlines specific requirements for contractors’ accounting systems. These systems play a crucial role in ensuring accurate financial reporting, compliance with regulations, and effective cost management. Let’s delve into the key aspects of DFARS accounting systems and their significance.
Cherry Bekaert
JULY 23, 2024
Safe Harbor Domestic Violence Agency – Greenville, SC Escaping Domestic Violence Individuals and families impacted by domestic violence have inherently been exposed to traumatic events in their lives. Safe Harbor is committed to providing programs and services that are designed with an understanding of the impact of trauma on individuals and families, as well as a recognition of a survivor’s resiliency and ability to heal.
Accounting Today
JULY 23, 2024
AitM; IRS strategies after Chevron; the taxman's jackpot; and other highlights from our favorite tax bloggers.
Speaker: Debra L. Robinson
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
Insightful Accountant
JULY 23, 2024
The Internal Revenue Service and the Security Summit partners today urged tax professionals to learn the signs of data theft so they can respond quickly to protect their business and their clients.
Anders CPA
JULY 23, 2024
Real estate developers in Missouri have access to dozens of state and federal tax credits that can help you maximize profitability and minimize costs. Some programs, like the Low Income Housing Tax Credit (LIHTC) and Historic Preservation Tax Credit Program (HTC), are available as both federal and state credits. Other programs, such as the Business Use Incentives for Large-Scale Development (BUILD) and the Missouri Affordable Housing Assistance Program, are only available as tax credits in Misso
Insightful Accountant
JULY 23, 2024
Murph shares how you can be a 'code-breaker' in the 2025 U.S. ProAdvisor Awards and potentially score more points by ensuring you get ranked in every applicable category for your practice.
CPA Practice
JULY 23, 2024
Of the 54 companies that went public in the second quarter of 2024, PwC and Withum audited 16 of them—eight each—more than any other audit firm, according to a new analysis from Ideagen Audit Analytics. Overall, 18 different firms audited the 54 new initial public offerings, which raised a combined total of $10.5 billion. Coming in behind PwC and Withum was Marcum, which had seven new clients—the same total as in Q1.
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
ThomsonReuters
JULY 23, 2024
Jump to: Strategic preparation: The key to AI integration Understanding business needs and cultivating partnerships that prepare for AI Key considerations for implementing AI in tax and finance business processes Next steps for businesses to prepare for AI For more than a decade, artificial intelligence (AI) has been weaving its way into tax and finance business processes, yet its expansion has accelerated dramatically in recent years.
Cherry Bekaert
JULY 23, 2024
Contributors: John Heagy, Manager, Risk & Accounting Advisory Services Sarbanes-Oxley (SOX) 404 compliance is widely perceived to be a highly burdensome requirement for U.S. Securities and Exchange Commission (SEC) filers large enough to have the compliance apply. The SOX mandate requires a company to obtain an auditor’s opinion on the financial statements (404a) and their opinion on the internal controls over the financial reporting process (404b).
Mark Lee
JULY 23, 2024
You have probably heard the suggestion that it’s important to help people get to ‘know, like and trust’ you. Only then will they buy from you. Only then will they even consider becoming your client. This idea originated in the book ‘Endless Referrals’, written by Bob Burg, who said: “All things being equal, people do business with, and refer business to people they Know, Like and Trust.
Cherry Bekaert
JULY 23, 2024
Contributor: Michael Wallach, Senior Manager In 2019, a qualified opportunity fund (QOF) within a large real estate holding company (the Company) invested in a qualified opportunity zone business (QOZB), which purchased land for development opportunities. With the disruption of COVID-19, and the various obstacles the pandemic brought to the construction industry, the business decided to sell the property in 2022.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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