Wed.Feb 14, 2024

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How accountants can make remote work work

Accounting Today

With almost 13% of full-time employees working remotely, and 28.2% in a hybrid arrangement, accounting firms are coming to see the importance of adapting to the new working environment.

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Voting Opens for 2024 Readers’ Choice Awards

CPA Practice

Voting in the 2024 Readers’ Choice Awards is now open. The CPA Practice Advisor Readers’ Choice Awards give our readers the opportunity to spotlight the technologies they most rely on and trust to manage their firms, provide client services, and help those clients run their businesses. From online tax and accounting systems, practice management, document automation and workflow tools, to apps for collaboration, mobile productivity and research.

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Jeff Bezos reaps Florida tax benefit with $4B Amazon share sale

Accounting Today

Leaving Washington state, which in 2022 introduced a 7% tax on capital gains, could have saved Bezos $288 million in taxes after he unloaded $4 billion of Amazon.com stock in the past week.

Florida 122
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Is PwC Cooking Up Another Big Rebranding?

Going Concern

TLDR: PwC has engaged McCann as global creative agency, their current logo is 14 years old, and the tax scandal that originated at PwC Australia has done real damage to the PwC brand worldwide. Plus they like debuting new logos when the economy sucks. There might be a new face of PwC on the horizon. Ad Age reported earlier this month that PwC has appointed Interpublic Group of Cos.

Start-ups 120
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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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80% of Employers Plan to Increase Investment in Workforce Development

CPA Practice

More than 80% of businesses are currently planning to increase overall investment in workforce development in 2024, according to a new survey from RGP, a global consulting firm. The survey explored the key market factors that are shaping workforce investment decisions for U.S. businesses in the year ahead. “There’s a lot of work out there, but the lingering labor market imbalance is causing employers to embrace new ways of finding the skills they need, and our latest research validates this shif

Finance 115
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IDC MarketScape Names NetSuite a Worldwide Leader in SaaS and Cloud-Enabled Finance and Accounting Applications

Insightful Accountant

NetSuite has been named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Mid-market Finance and Accounting Applications 2023–2024 Vendor Assessment.

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Cybersecurity for CPAs: Don't get complacent

Accounting Today

In this month's Cybersecurity for CPAs, a firm takes steps to make sure people still follow the safety rules they instituted during work for home.

cpas 101
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Sage Transform 2024 Headed Our Way

Insightful Accountant

Once again, Murph will be covering Sage Transform, the annual conference for the Sage Intacct community. This year, Sage Transform is being held in Las Vegas at the MGM Grand.

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Strengthen Your Bottom Line: Manufacturing Cost Management Explained

AccountingDepartment

In the fast-paced world of manufacturing, where efficiency and innovation reign, understanding and managing costs are paramount to success. Cost management isn't a mere back-office function; it's what ensures your products remain competitive, your operations sustainable, and your company profitable.

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How Do Outsourced Accounting Services Work?

GrowthForceBlog

8 min read Outsourcing is the practice of hiring a third-party provider to manage any aspect of a business. Of course, the most popular business functions to outsource are those that are not directly related to the core function of your business but that are still absolutely necessary for its operation.

Account 93
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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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GenAI in anti-fraud tech expected to triple

Accounting Today

Generative AI, which is already playing an outsized role in fraud, is also expected to play an at least equally large role in efforts to fight fraud.

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Skagit County Business Owners, A Big Gmail Update Is on the Way

SkagitCountyTaxServices

For a long time, the NFL was hands-off when it came to Las Vegas. They were unwilling to get anywhere close because of the long-time commissioner’s caution about the connections some big NFL names had with well-known mob connections. Commissioner Pete Rozelle and his successors were adamant about their anti-sports betting stance. Major changes in the NFL’s attitude toward Vegas came, slowly but steadily.

Sports 76
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IESBA proposes ethics changes for sustainability

Accounting Today

The International Ethics Standards Board for Accountants has proposed new rules to help auditors steer companies away from greenwashing.

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Improvements to Income Tax Disclosures in ASU 2023-09

Withum

Before the 2023 calendar year ended, a new Accounting Standards Update (ASU) was issued by the Financial Standards Account Board (FASB) to update the requirements for income tax disclosures under US GAAP. ASU 2023-09 applies to all entities that are subject to income taxes, but some disclosures are only required for public entities. Public business entities must adopt these amendments for annual periods beginning after December 15, 2024, while other entities will have an additional year for adop

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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M&A roundup: PKF O'Connor Davies, Mowery & Schoenfeld, and Davies expand

Accounting Today

PKF O'Connor Davies added SuárezBaldomero; Mowery & Schoenfeld merged in Hochfelder & Weber; and Davies acquired Matson, Driscoll & Damico.

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Deloitte’s Second Service Doggo Is All Grown Up

Going Concern

*Article image is of some other dogs found on a stock image site, I needed an excuse to scroll more dog pics this morning. Happened to see this on the propaganda factory that is the Life at Deloitte Xitter account yesterday and figured it would be good to share, it isn’t often we get feels from Big 4 initiatives. It seems Deloitte’s second service dog is heading off to the next chapter in his journey: And just like that, a new chapter begins for our #PuppyWithAPurpose , Kevin!

Account 65
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Navigating new terrain with multinational tax compliance

Accounting Today

The OECD's Pillar Two international corporate tax rules will impose significant new compliance obligations on midsize multinational enterprises.

Tax 64
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E-Commerce Warehouse Location: The Most Advantageous States for Your Business

Withum

Selecting the optimal state to locate your e-commerce business’s warehouse is a critical decision that can significantly impact operational efficiency, cost-effectiveness, and customer satisfaction. It is important to review both the logistical considerations of getting goods in and out of a particular state and the plusses and minuses of the state tax and business regulatory environment.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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The Federal Data Transparency Act and Your Local Government Agency

LSLCPAs

What is the Federal Data Transparency Act? The Federal Data Transparency Act (FDTA or the Act) was passed by Congress on December 23, 2022, as part of the National Defense Authorization Act. It is another step in digitizing data coming on top of the Federal Funding Accountability and Transparency Act (FFATA) of 2006, the Data. The post The Federal Data Transparency Act and Your Local Government Agency appeared first on LSL CPAs.

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Hospitality & Leisure: Spring Budget 2024 Predictions & Wish list

Menzies

Menzies LLP - A leading chartered accountancy firm. As we approach the Spring Budget on 6 March 2024, the UK Hospitality and Leisure sector faces ongoing challenges. Despite some positive outcomes from the Autumn Statement, such as the freeze on the small business rates multiplier for 2024/25 and an extension of the business rates relief scheme, businesses in this sector continue to grapple with ongoing pressure.

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What I Love About Accounting

Withum

There is no better time to share what I love about public accounting than on Valentine’s Day. Following is a list of 14 things I love about public accounting. 14 Reasons Why I Love Public Accounting I love tax season. What profession can you get to interact with every client you have, get updated on their goings on, share their dreams and goals (since most of these have a financial element) and also get paid for it?

Account 59
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Terrell Turner on Building a Firm, Finding a Niche, and Creating Success

Canopy Accounting

Terrell Turner, co-founder of TLTurner Group and co-host of the Things Your Accountant Isn't Telling You Podcast, shares tips for building a firm from scratch, how to find your niche, and unique ways to create success. Three Main Ideas: Developing a niche : Terrell emphasizes the importance of identifying a specific target market within the accounting industry.

Maine 59
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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Leave Your Ego at the Door

Ryan Lazanis

Ego can lead many firm owners away from their ultimate objectives. Check out how I was able to manage my ego and why you should too. The post Leave Your Ego at the Door appeared first on Future Firm.

Account 52
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How to Find and Develop Your Niche

Summit CPA

Finding and developing your niche can help you grow your business. Marketing to potential clients operating in a specific industry can help you increase your profit margins as you gain more experience servicing clients in your chosen niche and ultimately charge more money for your expertise. Chances are you'll even streamline your operations as you become more accustomed to offering your services to your choice clientele.

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Mowery & Schoenfeld Merges in Chicago Firm Hochfelder & Weber

CPA Practice

Top 200 accounting firm Mowery & Schoenfeld has merged with Hochfelder & Weber, a CPA firm with a 91-year history in Chicago. Financial terms of the deal weren’t disclosed. The combined firm will continue as Mowery & Schoenfeld, with Robert Olson, managing partner of Hochfelder & Weber, becoming a partner at Lincolnshire, IL-based Mowery & Schoenfeld.

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Kyle Turriff On Demystifying Digital Transformation: Key Components & Continuous Improvement

Insightful Accountant

Join Gary and Kyle in this insightful episode as they delve into Kyle's recent LinkedIn post, "Demystifying Digital Transformation.

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AP Automation: The Competitive Advantage Your Business Needs

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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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IRS Seeks More Than $1 Billion From SVB for Taxes

CPA Practice

By Sabrina Willmer, Bloomberg News (TNS) The IRS is seeking to recover about $1.4 billion in taxes it claims are owed by Silicon Valley Bank, the regional lender that failed last year. The federal tax agency claims the California-based lender owes both corporate income and employment taxes spanning a four-year period ending in 2023, according to a lawsuit filed Tuesday in Washington federal court.

Tax 52
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2024 Tech Company Tax Tips

Shay CPA

Does thinking about filing your taxes put some tension on your shoulders? If so, it’s probably because you’ve had a less-than-ideal filing experience in the past. And in most cases, those unwelcome filing instances come from surprises. Or you might be feeling stressed because you don’t know what to expect. Either way, we can help. By giving you a heads-up in some key areas, we can make filing your tech company’s 2024 taxes a whole lot easier — and less stressful.

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PKF O’Connor Davies Picks Up a Boutique Firm in New Jersey

CPA Practice

Top 30 accounting firm PKF O’Connor Davies acquired Little Falls, NJ-based SuárezBaldomero, a boutique CPA firm with a growing international clientele, on Jan. 1. Financial terms of the deal weren’t disclosed. Belarmino A. Suárez, shareholder at SuárezBaldomero, and all of the firm’s employees have joined PKF O’Connor Davies and remain in their current office in Little Falls.

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UK Budget 2024 predictions - are tax cuts feasible?

Wellers Accounting

A loot forward to the Budget 2024, and the tax and spending policies the Chancellor of the Exchequer is likely to announce.

Tax 52
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Fall In Love With the Month-End Close

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.