Thu.Sep 12, 2024

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Debunking The Myths Around Outsourced Accounting Services

AccountingDepartment

Accurate accounting is at the heart of business success. Whether you're a budding startup or a seasoned enterprise, effective financial management significantly impacts your ability to make informed decisions, strategize for growth, and comply with regulatory requirements.

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IRS and Treasury propose guidance on CAMT

Accounting Today

The Internal Revenue Service and the Treasury Department issued proposed regulations Thursday offering guidance on the Corporate Alternative Minimum Tax.

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AICPA, NASBA Seek Input on Proposed New Pathway to CPA Licensure

CPA Practice

The AICPA and the National Association of State Boards of Accountancy (NASBA) said on Thursday they are asking the public for feedback on a proposed new option for CPA candidates to meet their initial licensure requirements. The CPA Competency-Based Experience Pathway would provide an additional way for candidates to demonstrate their professional and technical skills after earning a bachelor’s degree and meeting their state’s requirements for accounting and business courses.

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Accounting Seed Sponsors Dreamforce 2024, Following Major Product Launches, and Inc. 5000 Recognition

Accounting Seed

COLUMBIA, Md. – September 12, 2024 – Accounting Seed , a leading cloud-based accounting platform built on Salesforce, proudly announces its sponsorship of Dreamforce 2024. This prestigious event sponsorship comes on the heels of several significant product advancements for the company, including the launch of AP Automation , AR Automation and Multi-book Accounting.

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Business Travel Expense Strategies for Everybody

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Can Anyone Help This Eager Applicant Figure Out Why They Can’t Get an Interview at Deloitte?

Going Concern

It’s truly a mystery why this is happening. The post Can Anyone Help This Eager Applicant Figure Out Why They Can’t Get an Interview at Deloitte? appeared first on Going Concern.

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10 Steps To Creating A Successful Exit Plan For CEOs

GrowthForceBlog

8 min read September 12th, 2024 This year, the Baby Boomer generation is hitting what's being called "peak 65." This means that more people than ever before are reaching retirement age with over 11,200 Americans turning 65 every day in 2024. Baby Boomers are currently the CEOs of about 75% of all Fortune 500 companies, and according to the Exit Planning Institute's 2023 National State of Owner Readiness Report, Baby Boomers own 51% of businesses in the United States.

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AICPA News – Sept. 2024

CPA Practice

AICPA News is a round-up of recent announcements from the American Institute of CPAs. AICPA Submits Comments on Domestic Content Bonus Credit Requirements The American Institute of CPAs (AICPA) recently provided recommendations to the Department of the Treasury and the Internal Revenue Service (IRS) on interim guidance in Notice 2023-38 as updated by Notice 2024-41.

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PwC lays off 1,800 employees in U.S.

Accounting Today

The cutbacks are a sign of further retrenchment among the Big Four firms.

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Georgia Society of CPAs and Feeding Georgia’s Accounting Food Fight Raises $347,000 for Food Banks

CPA Practice

Marking its 11th anniversary, the 2024 Georgia Accounting Food Fight has concluded with resounding success, further cementing its commitment to ending hunger across the state. This annual fundraising campaign, a collaborative effort between Feeding Georgia and the Georgia Society of Certified Public Accountants, raised an impressive $347,591.16 — the equivalent of nearly 1.4 million meals.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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Thomson Reuters debuts AI audit suite

Accounting Today

Thomson Reuters unveiled its AI-powered Audit Intelligence suite, and its first solution, Audit Intelligence Analyze, to identify anomalies and generate documentation.

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Navigating cloud adoption: A conversation with Xero ambassador Scope Solutions

Xero

In today’s rapidly evolving accounting landscape, embracing cloud technology is no longer optional – it’s essential. But for many small firms, navigating the sea of available solutions can be overwhelming. That’s where Xero ambassadors like Scope Solutions come in, bridging the gap between cutting-edge technology and practical implementation.

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Tax Fraud Blotter: Mass misdeeds

Accounting Today

Noted; loan sharks; lowering the Boomer; and other highlights of recent tax cases.

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IRS Issues Proposed Regs for New Corporate Alternative Minimum Tax (CAMT)

CPA Practice

The Internal Revenue Service has issued proposed regulations to provide guidance on the Corporate Alternative Minimum Tax (CAMT). The Inflation Reduction Act created the CAMT, which imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years beginning after Dec. 31, 2022. The CAMT generally applies to large corporations with an average annual AFSI exceeding $1 billion.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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The family office: CAS for the wealthy

Accounting Today

Whether your firm has a vibrant wealth management division or not is irrelevant when it comes to offering family office services: Consider it outsourced CFO work, except for a family rather than an entity.

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From Startup to Maturity: How Outsourced Accounting Can Help Tech Companies Through Every Stage of Growth

Cherry Bekaert

The technology industry is one of the most dynamic and ever-changing sectors, with new innovations and advancements being added to the field every day. It should come as no surprise, then, that as a tech company grows, so do its accounting needs. Accounting presides over each growth stage. From the startup to the maturity stage, the need for accurate and timely financial reporting becomes increasingly important.

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Congressional panel advances repeal of 1099-K threshold change

Accounting Today

The House Ways and Means Committee voted to advance a set of five tax-related bills, including one that would eliminate a twice-delayed requirement to report payments of at least $600 received through third-party networks like Venmo.

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Top Remote Accountants of the Week | September 12, 2024

Going Concern

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #22480782 Certifications: CPA in process Education: BA Accounting, MS Accounting / Tax

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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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Reckon Community spotlight: what’s new at Reckon

Reckon

Ever had a question about Reckon? Chances are Rav Singh has an answer for you. Rav moderates the Reckon Community, a forum where members can discuss and discover all things Reckon. This week, we sat down with him to get the inside scoop on what makes the Reckon Community tick. This interview has been edited for clarity 1) To start things off, Rav, what is the Reckon community?

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Professionals on the Move – Sept. 2024

CPA Practice

Professionals on the Move is a highlight of recent staffing and promotion announcements from around the profession. James Burke Joins Herbein + Company, Inc.’s HR Consulting Practice Award-winning CPA advisory firm Herbein + Company, Inc. recently announced James Burke has joined the firm as a Senior HR Consultant in its HR consulting practice. In his new role, Burke will be instrumental in identifying and engaging potential clients, nurturing relationships—particularly in the financial service

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Understanding the Impact Around the Tax Cuts and Jobs Act’s Potential Sunset for Investment Partnerships

Withum

The Tax Cuts and Jobs Act (TCJA), enacted on December 22, 2017, indeed stands as one of the most significant overhauls of the U.S. tax code in the last 30+ years. Many of the tax changes in the 2017 TCJA, however, may not be here to stay and are scheduled to sunset between 2025 and 2028, if not extended by Congress. With this, it is crucial for businesses and individuals to be aware of these upcoming changes and plan accordingly.

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AI is Pushing the Boundaries of B2B Order-to-Cash Operations

CPA Practice

Global economic uncertainty is positively impacting how B2B order-to-cash processes are viewed by finance leaders, and generative artificial intelligence (AI) is optimistically viewed by a majority of CFOs as having a major impact on day-to-day financial activities, according to a new IDC InfoBrief study* commissioned by B2B order-to-cash software and digital payments market leader, Billtrust.

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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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Xerocon 2024: Win $5K with Be Insightful & Travel Tips from Gina Allard

Insightful Accountant

In this episode of the Accounting Insiders Podcast, hosted by Gary DeHart, we preview Xerocon 2024 in Nashville, and the exciting Be Insightful premium content program. Travel expert Gina Allard joins us with tips on how to maximize a travel budget.

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Teacher Pay Increased in 2023, But Still Lags Other College Graduate Professions

CPA Practice

The pay penalty for teachers—the gap between the weekly wages of teachers and other college graduates—grew to a record 26.6% in 2023, according to a new report from the Economic Policy Institute and the Center for Economic and Policy Research. This relative pay penalty—which is adjusted for education, experience, and demographic characteristics—increased despite a small improvement of 1.7% in teachers’ average weekly wages in 2023, from $1,384 to $1,408.

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Shay CPA’s 3rd Annual Company NYC Retreat Recap

Shay CPA

This year, Shay CPA hosted its third annual company retreat in the heart of New York City, an event packed with learning, connection, and celebration. From engaging presentations to immersive team-building workshops and a fun-filled final day, the retreat offered our mostly remote team the chance to bond, reflect, and look ahead. Day 1: Reflecting on Growth and Celebrating Milestones The Shay CPA Team (from left to right) Jay, Grace, Surendra, Nina, Kimberly, Akshay, and Dhelis The retreat kicke

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Unlock Your Business Profits: A Webinar on Making Better Business Decisions with Simple Numbers

Insightful Accountant

Join FuseCFO and Finatical Software for an insightful session where you’ll learn about the core principles and how to implement Greg Crabtree’s Simple Numbers methodology - a powerful approach to simplifying financial metrics.

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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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How does Chipotle’s 50-to-1 stock split impact its stockholders’ equity?

Wendy Tietz

Chipotle Mexican Grill announced a 50-to-1 stock split in June of 2024. This was the first time that Chipotle split its stock since going public in 2006. It was also one of the biggest stock splits ever among S&P 500 firms.

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AI is Reshaping the Hiring Process

CPA Practice

It’s an employers’ market, with the number of job applications growing four times faster than job openings. Despite these odds, top performing employees are quitting their jobs to look for better opportunities elsewhere. That’s according to the new semi-annual Global Workforce Report from Workday, Inc. At the same time, organizations are turning to AI to transform how they find and keep their best people.

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Why Hire a Forensic Accountant in a Family Law Case?

FraudFiles

Some family law attorneys are reluctant to retain forensic accountants in their cases. Money may be a factor, but sometimes the need for an outside expert is not clear. While law firms may have paralegals or attorneys on staff who are very knowledgeable about financial issues, the outside forensic accountant offers several advantages: Experience in [.