Wed.Dec 06, 2023

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How to enhance the audit experience

Menzies

Menzies LLP - A leading chartered accountancy firm. Importance of an Audit A lot of business owners think audits are much of a muchness, however their quality can vary significantly. In some instances, the client relationships formed and the process itself can have a lasting impact; which enables the business to make choices which could lead them to a much more profitable future.

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Streamlining procurement processes: A case study with Airbase and Doximity.

Airbase

From controlling costs to ensuring compliance, the procurement function is crucial to an organization’s financial health. But despite procurement’s importance, many companies struggle to implement processes with the right balance between control and efficiency. This balance is especially challenging for companies who don’t have a dedicated procurement team, but still need strong control over and clear visibility into all spending.

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WHO calls for higher taxes on alcohol and sugary drinks

Accounting Today

The World Health Organization said raising excise taxes on alcohol and sweetened beverages is the most effective way to reduce consumption while generating revenue.

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Research: Big 4 Dads Still Aren’t Embracing Paternity Leave

Going Concern

TLDR summary of this article from ChatGPT: Big 4 accounting firms introduced paternity leave in 2006, but a recent study finds that many fathers, especially in high-pressure environments like audit firms, hesitate to take advantage of it. The study, based on interviews with 13 men in French audit firms, reveals that fathers view leaves as incompatible with their professional commitments and perceive less support compared to mothers.

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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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IRS disallows 20K Employee Retention Credit claims amid crackdown

Accounting Today

The Internal Revenue Service is continuing to combat scammers and promoters encouraging businesses to file claims for the pandemic tax credit.

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Investing in Crypto: A Conversation With Matthew Walsh of Castle Island Ventures

Withum

In this episode of Cryptonomix, Mark Eckerle and Matthew Walsh, Founding Partner at Castle Island Ventures, cover the developments in the crypto space over the past year, Castle Island's investment preferences, valuable insights for other venture capital firms, best practices for companies seeking financing, and a preview of the upcoming year.

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More Trending

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Economic trends to help your business plan for 2024

Xero

The past year has been a bumpy ride for many. Most owners have been focused on maintaining cash flow, as they deal with the combination of rising costs and a limited capacity to lift their prices as customers become increasingly scarce. As 2024 approaches, it’s a good time for small business owners to think about business planning for the next 12 months.

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Murph and Liz Together for Our December 13th QB Talks

Insightful Accountant

Murph will be hosting Liz Scott for December's QB Talks focusing on QuickBooks at Year-end on Wednesday December 13, 2023 at 2:00 PM Eastern time.

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Private sector added 103K jobs in November as wages grew

Accounting Today

Annual pay rose 5.6% year-over-year, payroll giant ADP reported, seeing signs of a hiring slowdown for next year.

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Murph and Liz Together for Our December 13th QB Talks

Insightful Accountant

Murph will be hosting Liz Scott for December's QB Talks focusing on QuickBooks at Year-end on Wednesday December 13, 2023 at 2:00 PM Eastern time.

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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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AICPA proposes framework for stablecoins

Accounting Today

The AICPA has proposed a framework for disclosures related to asset-backed cryptocurrencies, often called stablecoins, centered mainly on an issuer's assets versus outstanding tokens for them.

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Thanks for coming along to the New Zealand Roadshow 2023

Xero

As we wrap up the 2023 Xero New Zealand’s Roadshow , we want to reflect on the success of what was our largest Roadshow in the Asia-Pacific region. Starting in Dunedin this October, we travelled across Aotearoa New Zealand, making stops in Christchurch, Wellington, and Hamilton, before finishing in Auckland; amounting to 10 hours and 30 minutes travelled by each Roadshow member.

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Home Office Accountable Plan

Summit CPA

Dave Danic, Director of Tax at Summit Virtual CFO by Anders, has an update about home office accountable plans.

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Swiss bank Pictet to pay $123M to end US tax case

Accounting Today

Federal prosecutors charged Pictet with conspiring to help taxpayers use 1,637 accounts to conceal assets and income from the IRS between 2008 and 2014.

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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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Zoomers Have Figured Out Early That Being a Manager Sucks

Going Concern

It seems Gen Z wants nothing to do with the management hamster wheel. Good for them. Business Insider shares the story of a few young people who took one look at the management suite and said eff that. Including this young millennial who didn’t want her job to find out she was talking s**t to business rags about it: Wendy, 28, who isn’t sharing her surname to keep her workplace from identifying her, told Business Insider the apparent promotion was pitched to her as an opportunity.

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How to successfully adopt after-action reviews as a CPA

Accounting Today

Every service-based company — especially a CPA firm — needs to find a way to make after-action reviews a standard practice.

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Highlights from Sage Intacct Release Notes: 2023 Release

Withum

Sage Intacct’s Release 4 for 2023 took place on November 10th, making it the last release for this year. The R4 release includes various updates and features to improve your Sage Intacct user experience. To stay updated with these changes, you can conveniently access the Intacct release notes via your Intacct Home Page dashboard. The R4 Release comprises of many product enhancements and introduces various Early Adopter Programs.

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Taxpayers in Swiss City can settle bills with Bitcoin, Tether

Accounting Today

The Swiss city of Lugano started to accept cryptocurrencies for paying taxes, fines and all other invoices from the municipality.

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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

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Exploring the drawbacks of Limited Company status for landlords

Menzies

Menzies LLP - A leading chartered accountancy firm. Landlords have been significantly impacted by the implementation of Section 24 of the Finance Act 2015 and this has prompted a search for effective ways to mitigate the increased tax burden that many landlords now face. As landlords navigate ongoing tax challenges, there has been an increase in tax-saving schemes, such as the “Less Tax for Landlords” hybrid partnership scheme and similar solutions suggested by advisors.

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Bonus Vendor Spotlight: TaxBit

Accounting Today

In this truly last Vendor Spotlight of 2023, we talk to Aaron Jacob, head of accounting solutions at TaxBit.

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On-Demand Webinar: Microsoft Ignite 2023: Big News and Key Takeaways

Withum

Are you in the know about all the groundbreaking new products and important updates to Microsoft Cloud technology announced at this year’s Microsoft Ignite conference? Join us for a post-Microsoft Ignite debrief webinar, where we unpack the latest developments, innovations and strategic insights unveiled during this year’s most anticipated technology event.

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M&A roundup: BDO, Sikich and other firms expand

Accounting Today

BDO USA adds Flintech Holdings and Dynamics Beyond; Sikich acquires Golden Trail Advisers; BMSS Advisors & CPAs merges in Haddox Reid Eubank Betts PLLC; REDW adds Grove, Mueller & Swank; Dean Dorton merges in VonLehman; Eide Bailly adds RBTK; Savant Wealth Management acquires Peay & Associates and SwaimBrown Wealth Management; LGA merges in Sullivan; Ryan acquires Morrison & Head; and Hannis T.

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Harness the Potential of Your Enterprise Knowledge

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

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Standardizing Workflows for Improved Team Performance

IgniteSpot

Often, companies only look to new software to improve team performance and efficiency. While technology can help streamline operations, standardized workflows and processes are critical for organization-wide alignment. Before implementing new software, document and optimize your team’s workflows first.

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What is FRS 101?

Menzies

Menzies LLP - A leading chartered accountancy firm. FRS 101 is a framework that allows qualifying subsidiaries to benefit from a reduced disclosure requirement in their individual financial statements. This means that these entities can provide less information in their financial statements, while still complying with accounting standards. The reduced disclosure framework is available to subsidiaries that meet certain criteria, and it can help to simplify the financial reporting process for thes

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California’s Climate Disclosure Laws Are Coming: What it Means for Your Company and How it Can Be a Competitive Advantage

Cherry Bekaert

Our Cherry Bekaert leaders will discuss the new California laws that force carbon emissions disclosures upon national and international firms. Although reporting isn’t set to begin until 2025, companies should begin planning for this now. Join us as we discuss the details of the reporting requirements, key challenges, and what is yet to be defined. We’ll also compare these requirements to other public and private regulatory bodies, identifying efficiencies and opportunities for your organization

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How to Raise Prices on Legacy Clients

Ryan Lazanis

One of the most challenging moves in any business is raising prices for legacy clients. Find out why and how to navigate this tricky aspect.

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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Introduction to Alteryx Designer for Data Preparation & Analytics

Cherry Bekaert

Alteryx allows users to model disparate data sources to support firm-wide analytics and decision making. The Alteryx Designer provides users a powerful drag and drop canvas environment to easily connect to and shape data together while documenting each step in the process for further automation and reusability. Questions? Contact Us The post Introduction to Alteryx Designer for Data Preparation & Analytics appeared first on Cherry Bekaert.

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Live CPE Conference Underway – Ensuring Success

CPA Practice

The 10th annual Ensuring Success CPE conference is now underway at www.ensuringsuccess.com/watch-2023. Accounting and tax pros can view this live, streaming CPE conference from their own office. Today’s 7 CPE sessions include tax ethics, firm management, small firm strategies for tax credits, 2023-24 tax season issues, digital assets, firm branding/marketing, and AI for accountants.

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People In The News This Week

Insightful Accountant

Both Centri Business Consulting and Docyt have announced major leadership enhancements this week.

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Hiring Employees and Contractors in the U.S. and Abroad: Tax Considerations & Software Solutions

Shay CPA

A good team is the backbone of any thriving company. And the rise of technology has made it easier than ever before to expand your hiring pool well outside the boundaries of your city or even your state. Before you seek out the best and the brightest, though, make sure you have a payment plan. That, of course, means paying the employee or contractor.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.