Going Concern

OCTOBER 30, 2024

TLDR ChatGPT summary: BDO USA filed a lawsuit accusing a former leader, Phuoc Vin Phan, of leaving to join Ankura Consulting and taking BDO team members and confidential information with him. BDO claims this was part of an Ankura plan to poach its Healthcare TAS practice. Phan denies the allegations, stating BDO’s workplace environment pushed him and others to leave, and counters that BDO fostered a culture of secrecy and intimidation.

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GrowthForceBlog

OCTOBER 30, 2024

7 min read October 30th, 2024 At the top of a CEO's list of worries, you'll find economic uncertainty (especially concern over a potential recession) and inflation, according to the 4Q 2023 Business and Industry Economic Outlook Survey from the AICPA and CIMA Key Takeaways What Is a Virtual CFO: A virtual CFO serves a business remotely on an as-needed basis.

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AccountingDepartment

OCTOBER 30, 2024

In the current competitive environment, small and medium-sized businesses (SMBs) must leverage every possible advantage to succeed and expand. Forecasting is a powerful tool that can greatly influence a company's financial success.

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Accounting Today

OCTOBER 30, 2024

A potential recession is the biggest economic risk factor that audit partners foresee over the next 12 months, followed by regulations and geopolitical instability, according to a survey by the Center for Audit Quality.

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Speaker: David Warren

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

Sales

Xero

OCTOBER 30, 2024

There is a growing movement in the accounting industry towards new services and cloud-based tools, in large part due to the talent shortage crisis being felt across the US and Canada. The number of US accountants decreased by around 17% in the last couple of years, and this talent shortage crisis is causing pressure to evolve the role of the modern accountant.

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Accounting Today

OCTOBER 30, 2024

The proposed ASU would set more consistent requirements for determining the acquirer when a transaction is achieved by exchanging equity interests.

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accounting standards Account accountant accounted 70

Accounting Today

OCTOBER 30, 2024

The resignation comes after Department of Justice launched a probe into an ex-employee's claims that Super Micro violated accounting rules.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. A key theme of today’s budget was “Invest, Invest, Invest!” with the intention of driving economic growth. The chancellor has pledged over £100 billion of additional capital investment over the next five years which will be welcomed by this capital intensive sector. Sector representatives Make UK were specifically mentioned in the Chancellor’s speech, signalling the extent to which the budget intends to promote UK production and innovation. 7 K

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Accounting Today

OCTOBER 30, 2024

The sofamaker agreed to pay $1.5 million to settle allegations that two former executives devised a fraudulent accounting scheme to meet a key Wall Street metric.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. HMRC Recruitment Drive The Government has confirmed that 5,000 new HMRC compliance officers will be recruited, with the first 200 of these starting in November. This is expected to cost £1.4 billion over 5 years and raise £2.7 billion by 2029/30. The policy move is designed to close the ‘tax gap’ but this will take time to have an impact ‘on the ground’ as it can take several years before an HMRC compliance officer completes their t

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The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

Accounting Today

OCTOBER 30, 2024

Xero announced the winners of its annual Beautiful Business Fund competition, who each received a portion of $460,000 in prize money. Four were based in the US.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. The recent budget has imposed significant challenges on businesses across the board, with the retail sector being particularly affected. The Chancellor has announced several policy changes and tax increases that will impact retail. 1.2% increase in Employers National Insurance Rates A 1.2% increase in Employers National Insurance rates will be a substantial burden on profitability, especially when combined with the reduction in the threshold fo

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Canopy Accounting

OCTOBER 30, 2024

In this episode of Canopy’s Practice Success Podcast, we sit down with Hannah Smolinski, founder and CEO of Clara CFO Group. We discuss Hannah's experience building a fractional CFO firm, why she chose to focus on CFO services, and the evolving role of fractional CFOs. The conversation covers valuable advice for small businesses and accounting firms, including trends in financial advisory and hiring challenges.

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accounting firms accounted Account accountant 59

Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. The 2024 Autumn Budget introduces rising costs for tech employers through increased National Insurance and wage requirements, while offering targeted relief for smaller tech businesses and investing in digital infrastructure to support sector growth. No increase in taxes on ‘working people’ As promised, the Chancellor did not raise ‘taxes for working people’, i.e. income tax and employee’s National Insurance.

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Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Accounting Today

OCTOBER 30, 2024

Richard Chambers is seeing a neverending series of crises confronting internal auditors and posing risks to their organizations.

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Xero

OCTOBER 30, 2024

Supporting and championing small businesses is at the core of our purpose, which is why we launched the Xero Beautiful Business Fund last year. This initiative provides more than £350,000 in funding globally to our small business customers in the UK, South Africa, Australia, New Zealand, Singapore, Canada and the US. There were 28 winners overall, four in each country, who were awarded based on their 90 second video entry about how they would use the funding to support their future business goa

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Accounting Today

OCTOBER 30, 2024

Private sector employers added a robust 233,000 jobs in October as annual pay grew 4.6% year over year, payroll giant ADP reported.

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Xero

OCTOBER 30, 2024

Cuts to official interest rates and income taxes have begun in some countries, with some hoping the changes would help boost consumer spending. Unfortunately, this doesn’t seem to be the case yet for small businesses, according to the latest Xero Small Business Insights (XSBI) data. What cuts have happened? Central banks have been busy in the past few months, switching their focus from raising interest rates in an attempt to fight inflation, to cutting interest rates to boost growth.

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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

Insightful Accountant

OCTOBER 30, 2024

Intuit showcases innovation's to fuel accountant success and drive business grown by powering prosperity with AI-driven insights, staffing solutions for scaling businesses, and features that engage and grow your business.

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Ryan Lazanis

OCTOBER 30, 2024

Are you struggling to add advisory services without taking on all the work yourself? Learn how to delegate and make advisory work scalable. The post How to Delegate Advisory Work to Your Team appeared first on Future Firm.

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CPA Practice

OCTOBER 30, 2024

Using thousands of real-world engagements, we explore how firms are achieving up to 23% time savings by leveraging Fieldguide’s AI and automation , ultimately turning reclaimed time into a strategic advantage. With Fieldguide, you’re not just adapting to change—you’re shaping the future of your firm. Gain Actionable Insights: Understand how Fieldguide’s solutions deliver measurable efficiency improvements and time savings based on real customer data.

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ThomsonReuters

OCTOBER 30, 2024

← Blog home The 2024 State of the Corporate Tax Department report by the Thomson Reuters Institute, in collaboration with tax executives, highlights the challenges and opportunities facing tax departments today. With talent shortages looming and technological advancements accelerating, tax departments are at a pivotal juncture. This post delves into the key findings of the report, providing valuable insights and strategies to address these challenges.

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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

IgniteSpot

OCTOBER 30, 2024

Raising prices as a business owner may seem daunting and scary, but it doesn't have to be. This might be the last item on your list for this year because you're unsure how your customers will react or if there’s a magic formula for successfully increasing your rates. As an accountant, I’ve had the privilege of looking under the hoods of hundreds of businesses across the country, and today, I want to share a framework that can help you navigate price increases without spooking your customers.

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CPA Practice

OCTOBER 30, 2024

Top 20 accounting firm EisnerAmper has launched a new CFO advisory service line that it says supports the highly specialized needs of the energy sector. EisnerAmper’s advisory group has established a team within its Emerging Sectors Services group, Energy Sector CFO Advisory , led by partner Julie Munn-Sims and managing director Candice Wilson. Munn-Sims and Wilson bring decades of experience helping CFOs and other business leaders focus on transformational excellence and strategic innovation,

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Xero

OCTOBER 30, 2024

As outlined in the autumn Budget, the UK government is committed to delivering Making Tax Digital (MTD) for income tax Self Assessment, which will be mandated in April 2026. We’re pleased that this gives accountants and bookkeepers more certainty on timings as they prepare for this deadline. At Xero, we’re ready for MTD for IT and will be participating in HMRC’s public testing phase from April 2025.

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CPA Practice

OCTOBER 30, 2024

Xero , the global small business platform, has announced the U.S. winners of the 2024 Xero Beautiful Business Fund. Four small businesses in the U.S. were selected as winners, along with businesses from regions around the world, each receiving a portion of a $460,000 global prize pool. The winners for this fund represent a diverse group of organizations committed to driving meaningful change and redefining what’s possible in the field they operate in.

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Speaker: Michael Mansard and Katherine Shealy

Generative AI is no longer just an exciting technological advancement––it’s a seismic shift in the SaaS landscape. Companies today are grappling with how to not only integrate AI into their products but how to do so in a way that makes financial sense. With the cost of developing AI capabilities growing, finding a flexible monetization strategy has become mission critical.

Gaming

Dent Moses

OCTOBER 30, 2024

Just like your primary residence, a second home may have significant appreciation over the last several years. If it’s time to sell, it’s important to understand the tax consequences. Let’s look at a couple of examples: Sale of second home – 100% personal use Unlike your primary residence, no gain exclusion is available if you sell a vacation home.

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CPA Practice

OCTOBER 30, 2024

The Bonadio Group , a nationally ranked IPA Top 50 CPA firm and the largest independent provider of professional services in Upstate New York, will expand into the Mid-Atlantic region with today’s announcement that it will join with award-winning CPA advisory firm Cover & Rossiter (C&R). The merger is expected to close on December 1, 2024, when all employees of the Delaware-based CPA firm will join The Bonadio Group and C&R will begin to operate under The Bonadio Group brand.

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Anders CPA

OCTOBER 30, 2024

Guillermo Rodriguez welcomes Samuel Fisher, Co-founder of Green Dispensary Marketing , to discuss effective marketing and SEO strategies for cannabis dispensaries. Samuel emphasizes the importance of building a dispensary’s own digital assets, such as a well-optimized website and strong Google “My Business” profile, rather than relying solely on third-party platforms like Weedmaps and Leafly.

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CPA Practice

OCTOBER 30, 2024

According to the results of a survey released today by the Center for Audit Quality (CAQ), concerns about a potential recession, ongoing inflation, and the U.S. election are fresh on the minds of audit firm partners as the start of 2025 nears. Now in its third year, the CAQ’s Audit Partner Survey asked 1,128 audit partners at the country’s leading public company audit firms about their views on the current business environment in the U.S.

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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.

accounting and finance