Thu.Mar 14, 2024

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Best Practices for Managing High-Volume Accounts Payable

MineralTree

For scaling businesses, invoice payments rapidly grow in volume and complexity. However, many companies still rely on manual processes to manage accounts payable—and these outdated practices are causing problems across their financial operations. A manual approach slows down the payment process and increases the risk of errors and fraud while jeopardizing relationships with strategic vendors.

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MassCPAs CEO aims to build accounting pipeline

Accounting Today

Zach Donah, the new CEO of the Massachusetts Society of CPAs has big plans for the organization.

Insiders

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Let’s Help Promote Collaboration With NJ Association of Community Providers

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post Let’s Help Promote Collaboration With NJ Association of Community Providers appeared first on Withum.

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Audit committees set priorities

Accounting Today

A majority of audit committee members are eyeing cybersecurity as a top priority in the next 12 months, followed by enterprise risk management and talent.

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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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Money Mule Networks Are on IRS Criminal Investigation’s Radar

CPA Practice

What are money mule networks, and why is the IRS Criminal Investigation (IRS-CI) unit warning taxpayers about them ? This month IRS-CI has joined forces with federal partners—including the Justice Department, the FBI, and the Department of Labor Office of Inspector General—to take part in an annual, multiweek effort deemed “The Money Mule Initiative” aimed at identifying and prosecuting facilitators of money mule schemes.

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Tax Fraud Blotter: A naughty streak

Accounting Today

Nothing sacred; on the Lamborghini; Empire lost; and other highlights of recent tax cases.

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More Trending

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Robin Hall on Family, Tech Trends, and Personalized Accounting Services

Insightful Accountant

On this episode of Accounting Insiders, Gary talks to Robin Hall of VARC Solutions and her journey with Family, Tech Trends and Personalized Accounting.

Account 105
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Top Trend Predictions for Not-for-Profits in 2024

Cherry Bekaert

Nonprofit organizations, from social services to trade associations and charter schools, play an essential role in supporting our communities. But these organizations often face several challenges and restrictions when it comes to fulfilling their missions. Throughout 2024, not-for-profit (NFP) organizations will have many opportunities to increase impact and streamline operations.

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Advisor Alliance: eTreem Partner Program

Insightful Accountant

With eTreem's Partner Program, you can grow your practice by helping clients simplify their accounts receivable while reducing the cost of inbound payments.

Account 103
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Inbound U.S. Tax Services

Cherry Bekaert

When expanding operations into the U.S. market, business owners must learn about the federal, state and local tax systems they will encounter. Sales tax in the U.S. is quite different from a value-added tax (VAT) or a goods and services tax (GST) assessed by many other countries. Companies selling goods and some services must comply with a sales tax system that can vary across thousands of taxing jurisdictions.

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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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SAS 145 offers tech-powered audits for the future

Accounting Today

This new standard changes the game for auditors to make risk assessments even more effective.

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Unlocking Business Growth with ERP Systems for SMBs

AccountingDepartment

How an ERP system, such as Netsuite, tailored for the unique needs of SMBs, can be a pivotal tool in propelling small businesses to new heights.

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Professionals don't know what gen AI is, but plan to spend more on it

Accounting Today

A recent survey of professional service providers found that the majority aren't exactly sure what generative AI even is, but they still anticipate spending more for it in both the short and long term.

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AuditBoard and KPMG Partner for Risk Management

CPA Practice

AuditBoard , a loud-based platform transforming audit, risk, compliance, and ESG management, has partnered with KPMG LLP, the audit, tax, and advisory firm. Through this alliance, organizations will be able to leverage the combined power of AuditBoard’s award-winning connected risk platform and KPMG’s deep expertise to elevate audit, risk, IT security, and ESG programs, and help businesses better manage growing risk challenges.

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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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The big 3 behind a healthy succession

Accounting Today

A healthy succession plan achieves three main objectives: continuity through client retention, client growth and fair financial treatment of all parties.

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February Retail Sales Saw Rebound

CPA Practice

Monthly data released by the U.S. Census Bureau shows retail sales expanded in February after a strong but flat January, National Retail Federation Chief Economist Jack Kleinhenz said. “Retail sales rebounded in a solid fashion in February, showing the consumer is still spending and pointing to underlying strength in the economy,” Kleinhenz said. “These results indicate that the economy is continuing to expand in the first quarter despite tight credit conditions and still-elevated inflation.

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IASB proposes to improve acquisition reporting

Accounting Today

The International Accounting Standards Board hopes to enhance the information provided by companies to their investors about acquisitions under IFRS.

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QBO Now Auto-matches QuickBooks Paychecks

Insightful Accountant

QuickBooks can now automatically match each paycheck to the correct bank transaction. That means users will spend less time matching.

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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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Oracle Fusion Cloud Application Suite adds dozens of gen AI features

Accounting Today

Oracle announced the addition of more than 50 generative AI features in its Oracle Fusion Cloud Application Suite.

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Grant Thornton Poaches a Partner From a Law Firm and Issues a Press Release

Going Concern

Grant Thornton’s asset management practice is moving up in the world as the firm announces they’ve stolen a partner from Philadelphia’s Stradley Ronon Stevens & Young, LLP. Grant Thornton LLP has welcomed Chris Scarpa to the firm’s Asset Management industry practice in Philadelphia. Scarpa joins Grant Thornton as a Tax principal, and he will use his nearly 30 years of experience to further strengthen the firm’s service offerings within the asset management sector.

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Pi Day and Ides Day

Withum

Today, March 14, is Pi Day and tomorrow is the Ides of March (March 15th,) which was made famous by Shakespeare’s opening words in his play Julius Caesar. The play is not really about Julius Caesar but about the people who assassinated him and their plotting and later misfortunes. Would we ever think about the Ides of March if Shakespeare did not include those words in this popular and ageless play?

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‘The Accountant 2’ Is a Go

Going Concern

According to an exclusive from Deadline , a sequel to the 2016 film The Accountant is for sure in the works. If anyone cares. Ben Affleck, Jon Bernthal, J.K. Simmons, and Cynthia Addai-Robinson have locked deals to return for The Accountant 2, the sequel to the Gavin O’Connor-directed action thriller The Accountant, on which Amazon MGM Studios has teamed with Affleck and Matt Damon’s Artists Equity.

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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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Spending on Easter Forecast to Top $22 Billion

CPA Practice

Consumer spending is expected to reach a total of $22.4 billion this Easter, according to the annual survey from the National Retail Federation and Prosper Insights & Analytics. The total figure is the second highest in the survey’s history, after last year’s record-setting $24 billion when the holiday fell nine days later in the year. “Each year, Americans look forward to the celebration of Easter and the renewal of time and traditions with loved ones,” NRF President and CEO Matthew Shay s

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The Pros and Cons of Waterfall Project Management Methodology

Withum

The Waterfall project management methodology is a sequential project management approach that is utilized across various projects. This method is a linear, step-by-step process with a strong emphasis on the documentation that requires the completion of each phase before moving to the next. It offers advantages such as clear milestones, well-defined scope and structured planning, but also possesses certain limitations, including an inflexibility to handle change and limited client involvement.

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Oracle Adds Generative AI Capabilities to Oracle Fusion Cloud Suite 

CPA Practice

Oracle has added new generative AI capabilities within the Oracle Fusion Cloud Applications Suite that will help customers improve decision making and enhance the employee and customer experience. The latest AI additions include new generative AI capabilities embedded in existing business workflows across finance, supply chain, HR, sales, marketing, and service, as well as an expansion of the Oracle Guided Journeys’ extensibility framework to enable customers and partners to incorporate more g

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On-Demand Webinar: Generating Actionable PortCo Benchmarks for GPs – ESG Data Convergence Initiative

Withum

The ESG Data Convergence Initiative (EDCI) is a collaborative initiative between Limited Partners (LPs) and General Partners (GPs) based around a set of core ESG metrics designed to create meaningful comparable PortCo benchmarks for private markets. With over 375 GPs and LPs actively involved, this collaborative effort is paving the way for a more transparent, resilient and socially responsible investment landscape.

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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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Job Losses Continue According to Intuit QuickBooks Small Business Index

Insightful Accountant

The Intuit QuickBooks Small Business Index just issued reports an additional 7600 jobs lost during February, 2024.

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QSBS Quick Bites

Withum

Qualified Small Business Stock (QSBS) is one of the most advantageous provisions in the tax code. It refers to stock issued by a qualified small business that meets specific criteria outlined in Sec. 1202 of the Internal Revenue Code. Withum’s Founders and Tech Executives Services Team is here to help you and your company understand the eligibility requirements for QSBS as well as different strategies you can employ to maximize your tax savings.

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The Core Services of a Modern CPA Firm

Summit CPA

Modern CPA firms have moved beyond the repetitive bookkeeping that characterized their work in the past. Programs like QuickBooks and Intuit have made it possible for non-accountants to do basic bookkeeping. However, as Roger Knecht of the Universal Accounting Center explains in an interview on the Modern CPA Success Show , “accounting is the analysis.

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Business Lifestyle Analysis

FraudFiles

Closely held businesses present special challenges in the family law setting. Typically, only one spouse is actively involved in the business. Therefore, not only does the spouse control the family’s finances, he or she also controls all of the records of the business. When a spouse is attempting to quantify the income from the business [.

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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.