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.

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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.

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Building a Business Case for Finance Automation

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.

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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

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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.

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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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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.

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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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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.

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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.

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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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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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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!

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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.

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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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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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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?

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Retail: Spring Budget 2024 Predictions & Wish List

Menzies

Menzies LLP - A leading chartered accountancy firm. Martin Hamilton highlights what we could expect from the Chancellor’s Spring Budget 2024 this year, and what could benefit the Manufacturing sector. Business rates Modify the scheduled business rates increase in April by transitioning from the Consumer Price Index (CPI) of September 2023 to the projected CPI of April 2024.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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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.

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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.

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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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Profit in the Details: Rethinking Spend for Monumental Impact

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

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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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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.

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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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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

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.