Wed.Jun 19, 2024

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What is a 13-Week Cash Flow Forecast?

Shay CPA

When you’re getting into financial forecasting, you want to find the balance. Long-term forecasting is key, but if you only focus on the future, you risk burning through your runway too quickly and never making it there. Managing your weekly cash flow matters, too, but you need to zoom out to power your strategy. When money’s tight, striking that balance gets extra critical.

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Balancing crypto's volatility with fair value accounting principles

Accounting Today

The unpredictable nature of digital assets stands out as both a defining characteristic and a significant challenge for investors and accounting professionals alike.

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How Government Contractors Can Master the Art of Timekeeping

CPA Practice

By Jim Wesloh U.S. government contracts account for over $700 billion annually , a significant portion of which hinges on the ability for contractors to “establish and maintain an acceptable accounting system” which includes “timekeeping” and “labor distribution.” Failure to maintain an acceptable accounting system may result in the withholding of payments from the government to a contractor.

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Readying for Hockey-Stick Growth, Patriot Software Unleashes New CEO

Patriot Software

Canton, OH Patriot Software’s founder and former CEO, Mike Kappel has introduced that Kyle Dreger is the new CEO of Patriot Software, effective immediately.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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The IRS’ New Use of AI

Insightful Accountant

The IRS is turning to AI to help select tax returns for audits, aiming to narrow the tax gap. A recent GAO report emphasizes the need for consistent and transparent use of this technology.

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The 20 best states to be poor

Accounting Today

Residents with low income in these 20 states pay a smaller percentage of their income in tax.

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We’re answering your questions about new invoicing

Xero

Earlier this year we communicated that we’ll be retiring the older version of our invoicing product – classic invoicing – on 2 September 2024. You may have questions about this change, so we thought we’d answer a few of the most common ones people have been asking. Does new invoicing support repeating invoices? Yes, new invoicing supports repeating invoices.

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Private equity in M&A looking at revenues, but not just any revenues

Accounting Today

A panelist during the Scaling New Heights conference in Orlando said that private equity firms are looking for firms with good revenue, but numbers alone don't tell the whole story.

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Mid-Year Business Goals Check-in For Skagit County Owners

SkagitCountyTaxServices

The IRS is in a crackdown year. Checking and rejecting ERC claims, getting what’s owed from millionaires that weren’t paying their part, and now locking down tax strategies that were being exploited by those with complex partnerships. If any of these apply to you, then we should definitely sit down and talk about how to keep you on the right side of things, especially if the IRS is coming after you… app.acuityscheduling.com/schedule.php?

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Founder Files: Going deeper, not wider

Accounting Today

Patrick Camuso's firm, Camuso CPA, specializes in digital asset investors and Web3 companies.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Corpay Acquires Cross-Border Payments Company GPS Capital Markets

CPA Practice

Corpay, Inc. , a global corporate payments company, has signed a definitive agreement to acquire GPS Capital Markets, LLC. GPS provides business-to-business cross-border and treasury management solutions to upper middle market companies, primarily in the U.S. The transaction is expected to close in early 2025, subject to regulatory approval and standard closing conditions.

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What you need to do now to prep for EOFY!

Reckon

Hear that? It’s the end of financial year screaming down the road in your general direction. It’s coming for you and it’s coming quick. What you shouldn’t be doing at this juncture is taking your sweet time and listlessly awaiting its imminent arrival. Get ready now and brace yourself. Insulate yourself from last minute stress by shaking a tail feather now, then you can chill come 1 July!

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The Partner Email Swap Marketing Tactic

Ryan Lazanis

Effective marketing doesn't always have to be complex. Discover a simple yet effective strategy overlooked by most firms. The post The Partner Email Swap Marketing Tactic appeared first on Future Firm.

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June 2024 Summit VCFO Employee Spotlight: Jacob Bernsen

Summit CPA

As a hybrid firm , not only do we serve our clients remotely, but our team members are often distributed as well. We understand the accounting, bookkeeping, cash flow management, and tax nuances of running a distributed company. We pride ourselves on our ability to provide the highest quality Virtual CFO services while being hybrid, and we couldn't do any of it without our amazing team.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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As Prophesied, the IRS Is Struggling to Hire All Those New Agents

Going Concern

Guess what? Those 87,000 armed goons new agents the IRS was authorized to hire thanks to the Inflation Reduction Act? They can’t find them. (Side note: apparently the “87,000 agents” thing was an initial Treasury estimate and IRS Commissioner Danny Werfel is annoyed people continue to repeat it as fact so we’ll cease doing so immediately except when referring back to past articles) Hate to say we told you so but…scratch that, we do enjoy saying that.

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How to Recruit the Best Junior Financial Staff

CPA Practice

Competition for top talent is tough across all sectors. This is particularly true in finance, given the number of opportunities for recent graduates, spanning fintech, wealth management, accounting and financial analysis. Here’s a snapshot of 2024 finance graduates and some strategies on how to attract the best talent. Finance graduate job market trends Even though traditional careers in finance like analysts and advisors are always in high demand, the graduate job market in this profession is u

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Why’s There a Talent Shortage and How Firms Can Do Their Part to Fix It

Going Concern

Buckle up because we’re about to dive headfirst into the fiery pit of despair known as the accounting talent crunch. And who better to guide us through this treacherous terrain than Jeff Phillips, CEO of Padgett and Co-Founder of Accountingfly. Jeff recently spilled the beans (not an accounting joke) on how to survive – and yes, thrive – in the cutthroat world of talent acquisition in this must-hear episode of Accounting Talent Podcast with Rob Brown: Reasons for the Acute Talent Shortage

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Biden budget proposal resurrects business tax rate debate

Accounting Today

This year's Greenbook proposals some greatest hits, including a higher corporate minimum tax.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

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