AccountingDepartment

APRIL 10, 2024

In the competitive world of small business, every decision can determine the trajectory of success or failure. One concept that lies at the heart of strategic business decisions but is often overlooked is opportunity cost. It's not just an economic theory; it's a practical metric that every small business owner and entrepreneur should master to make better choices and drive competitive advantage.

NetSuite 83

NetSuite bookkeeping accountant accounted 83

Withum

APRIL 10, 2024

In a recent development that underscores the dynamic landscape of Artificial Intelligence (AI) within government, the U.S. House has blocked the utilization of Microsoft’s Copilot by its staff, representing a noteworthy chapter in the ongoing narrative of AI’s journey through the hype cycle. Just as AI approaches the summit of the Peak of Inflated Expectations, there emerges a concerted effort, notably from the media, to hasten its descent into the Trough of Disillusionment.

Government 131

Government 131

Accounting Today

APRIL 10, 2024

The board imposed its largest-ever penalty of $25 million against KPMG's firm in the Netherlands, in addition to $2 million in fines against Deloitte's firms in Indonesia and the Philippines.

audit 128

audit accountant accounted Account 128

CPA Practice

APRIL 10, 2024

The accounting profession is struggling to deal with a talent shortage. Fewer students are selecting accounting as a major, and those who do often opt for careers outside of public accounting. Compounding the problem, the AICPA estimates that roughly 75% of its members are at retirement age. This isn’t news to most firm leaders who are continually seeking innovative solutions to attract and retain talent.

Technology 106

Technology accounting and finance cpas accounting standards 106

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.

Finance

Accounting Today

APRIL 10, 2024

Plus, Google is making massive changes to Chrome, AI-powered tax chatbots aren't performing well, and seven other things that happened in technology this past month.

Technology 128

Technology Tax 128

CTP

APRIL 10, 2024

In a previous blog , we discussed the benefits of the 1031 exchange. This IRS rule allows property owners to defer capital gains taxes when they trade a property for a like-kind property. So if your client has a property that is used for business or held as an investment and exchanges it for another property that is used for business or held as an investment, they may qualify for 1031 treatment.

Real Estate 105

Real Estate Tax tax planning tax return 105

CPA Practice

APRIL 10, 2024

Professionals newly joining the workforce in 2024 can expect an active hiring market, according to research from talent solutions and business consulting firm Robert Half. In a recent Robert Half survey, 65% of companies said they plan to hire entry-level professionals, generally defined as individuals with 0-2 years of experience, in early 2024. The Outlook for Entry-Level Professionals Hiring Plans by Field Administrative and customer support 76 % Legal 75 % Marketing and creative 72 % Fi

auditor 98

auditor accounting and finance Legal Finance 98

Insightful Accountant

APRIL 10, 2024

Hotel Equities to implement NetSuite to help optimize business processes and improve visibility across its growing portfolio.

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NetSuite 105

CTP

APRIL 10, 2024

A common conversation with clients is how to minimize taxes on their investments. When it comes to business or investment properties, taxpayers may be hesitant to sell, even if the investment is turning out to be an unprofitable one, because doing so will mean paying a sizable capital gains tax. What other options are available? Taxpayers who are willing to stay in the real estate market could benefit from a 1031 exchange.

Real Estate 96

Real Estate Tax Maine Sales 96

CPA Practice

APRIL 10, 2024

By Gail Cole. Like a number of foodstuffs, dairy products can be full fat, reduced fat, or 0% fat. Sales taxes on groceries operate in a sort of similar way. A few states go the full-fat route, applying the full state and local sales tax rate to groceries. Some states provide a partial sales tax exemption — the sensible 1% or 2% milkfat choice. And in numerous states, groceries are fat free (aka, fully exempt from sales tax).

Oklahoma 85

Oklahoma Sales Tax 85

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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.

Technology

Accounting Today

APRIL 10, 2024

A new report shows that, increasingly, the respondents in Public Company Accounting Oversight Board enforcement actions are firms, rather than individuals.

Account 81

Account accountant accounted audit 81

SkagitCountyTaxServices

APRIL 10, 2024

Lots going on this week. Namely… The tax filing deadline is Monday, April 15th. For any of our Mount Vernon business clients who haven’t yet reached out to us, we can still take you on by filing an extension on your behalf and then managing the filing after. But, remember, you still have to pay what you owe Tax Day or else you’ll wrack up penalties and fees.

Non-Profits 75

Non-Profits Tax CPA Finance 75

Accounting Today

APRIL 10, 2024

An earlier postponement of the reapplication date has been rescinded.

Tax 80

Tax 80

Going Concern

APRIL 10, 2024

Some not so good news coming out of University of Warsaw this month: people who work remotely, even part-time, are less likely to get raises and promotions. And it’s male WFHers who miss out most. This research is the first of its kind post-COVID, surely academia will be investigating the matter further for many years to come. The study abstract : Work from home (WFH) has been a part of the professional landscape for over two decades, yet it was the COVID-19 pandemic that has substantially

accountant 69

accountant accounted Account 69

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.

payroll

Accounting Today

APRIL 10, 2024

The International Accounting Standards Board has completed a new standard to give investors more readily comparable information about companies operating profits in one of the biggest changes to International Financial Reporting Standards in decades.

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international accounting standards accounting standards accounted Account 78

Basis 365

APRIL 10, 2024

A business’s ability to remain agile will ensure it can quickly adapt to emerging trends and opportunities. Agility is not only a mindset of the team but the infrastructure the business has built over the years. Bogging your business down with layers upon layers of employees and middle management can prevent you from seizing an opportunity faster than your competitors.

bookkeeping 59

bookkeeping accounts payable financial statements bookkeeping services 59

Accounting Today

APRIL 10, 2024

The firm may pursue its claims through an administrative office at the agency after agreeing with the federal government to dismiss its case.

Tax 75

Tax Government 75

Accounting Insight

APRIL 10, 2024

Chaser, the leading credit management automation platform, announces a new integration with Microsoft Dynamics 365 Business Central (MS Dynamics), an all-in-one business management solution for small to midsize companies, empowering businesses to effortlessly manage their accounts receivable process, by using automation and AI. MS Dynamics is designed for small-medium enterprises to help them manage their finances, operations, sales, and customer service and is popular worldwide.

accounting and finance 59

accounting and finance Finance accountant accounted 59

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.

Finance

Accounting Today

APRIL 10, 2024

Failure to maintain an acceptable accounting system may result in the withholding of payments from the government to a contractor.

Government 75

Government accounting system accounted Account 75

Summit CPA

APRIL 10, 2024

Jody hosts operators of Own Your Category, Russ Sorrells and Doug Tenpas, to discover how a business coach could transform agency success.

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59

Accounting Today

APRIL 10, 2024

Crete Professionals Alliance added Reid Tax & Advisory Services; and Financial Independence joined Level Four Financial.

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Tax 61

CPA Practice

APRIL 10, 2024

The American Institute of CPAs has submitted a letter to the Internal Revenue Service requesting simplified procedures for when taxpayers either fail to make a timely election out of automatic allocation of Generation-Skipping Tax (GST) exemption or make a section 2632(c) election inadvertently. These recommendations will simplify filing for taxpayers and practitioners and will reduce the administrative burden on the IRS as well.

Tax 59

Tax cpas Legal 59

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.

CPA

Withum

APRIL 10, 2024

Intuit recently announced the QuickBooks (QB) Desktop discontinuation, halting new subscriptions for several QB Desktop products after July 31, 2024. What does this mean for your business? In this on-demand webinar, we delve into the recent announcement and share the necessary knowledge and strategies to navigate this transition smoothly and effectively.

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quickbooks accounting software accounted Account 52

Ryan Lazanis

APRIL 10, 2024

A lot of firms struggle with their marketing. In this episode, I shared a marketing strategy that might be inefficient but works. The post The Inefficient Marketing Strategy That Works appeared first on Future Firm.

accountant 52

accountant accounted Account 52

Accounting for Good

APRIL 10, 2024

NFPs require specialist accounting services with a firm focusing only on the NFP sector. Accounting For Good is that firm.

Account 52

Account accounted accountant 52

CPA Practice

APRIL 10, 2024

This webinar will be held on Thursday, May 16, 2024 Sponsor: SafeSend Duration: 1 Hour Register Now With many technological and AI-powered advances coming to the tax and accounting profession, firms are looking to provide the best service for their clients, all while staying up to date, saving time, and cutting costs. Firms are looking for a solution that standardizes the tax workflow experience easily.

Tax 52

Tax Indiana Technology tax return 52

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

Spend Management

LSLCPAs

APRIL 10, 2024

Transitioning to a new Enterprise Resource Planning (ERP) system can be a transformative experience for your local government agency. It can create efficiencies that most times were thought not possible. New accounting rules seem to be coming out of the woodwork that changes how our systems from 20 years ago were implemented to be used. The post Cleaning Up Your Records in Preparation for a New ERP System…Where to Start?

cpas 52

cpas Government Account accountant 52

CPA Practice

APRIL 10, 2024

A fine of $25 million to the Netherlands arm of Big Four firm KPMG for systemic exam cheating over a five-year period is the largest financial penalty doled out thus far by the Public Company Accounting Oversight Board (PCAOB), the U.S. audit regulator said on April 10. The PCAOB found that widespread improper answer sharing occurred in the firm’s internal training program and that KPMG Netherlands lied to the PCAOB about its knowledge of the rampant cheating.

audit 52

audit accounted Account accountant 52

Withum

APRIL 10, 2024

The surge in supply chain ESG data requests marks a critical shift in sustainability reporting. More than ever, companies are being asked to share their ESG data with business partners. While navigating this scenario may seem daunting and complex, it presents a substantial opportunity to strengthen relationships with customers, enhance brand reputation, and unlock various ancillary benefits by setting the stage for sustained success.

Real Estate 52

Real Estate CPA audit Sales 52

CPA Practice

APRIL 10, 2024

The Public Company Accounting Oversight Board (PCAOB) issued a pair of proposals on April 9, one of which would require audit firms to publicly disclose several metrics —including the involvement of partners and managers on an audit, auditor workload, and auditor turnover—on a new form that would be accessible to investors. Erica Williams “Sound and consistent information bolsters confidence in our capital markets, and can drive audit quality,” PCAOB Chair Erica Williams said in a statement on T

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audit auditor public accounting accounting firms 52

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