Tue.Oct 17, 2023

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Measuring Your Startup’s CAC Payback Period

BurklandAssociates

VCs and growth-oriented startups are focusing on CAC payback period as one of the best measures of growth efficiency and potential profitability. The post Measuring Your Startup’s CAC Payback Period appeared first on Burkland.

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IRS to offer free direct file online tax system in 13 states

Accounting Today

The Internal Revenue Service plans to run a limited pilot test of its free online tax system in 13 states next tax season, but it will only support certain tax credits.

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The 2023 AICPA Trends Report Shows Things Are Looking Up For Accounting Grad Numbers! JK They Suck

Going Concern

The 2023 AICPA Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report (short: Trends report) was released last week and spoiler alert, it’s dark. There’s a ton to dig into, while we’re doing that here’s a taste. This is all anyone cares about anyway right? Says the AICPA, bachelor’s degree completions in accounting dropped 7.8% from 2021–2022 after steady decline of 1-3% per year since 2015–16.

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Younger accountants more likely to leave employers

Accounting Today

Young accounting and finance professionals have been seeing the highest turnover over the past two years and are most likely to leave their current jobs over the next year, according to a new report.

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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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NetSuite Extends Analytics Warehouse

Insightful Accountant

By extending Analytics Warehouse, NetSuite hopes to help customers gain greater and faster value from their data. Companies are using the newly enhanced AI-powered features of NSAW to simplify data management and access greater insights.

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New IRS group intensifies enforcement efforts

Accounting Today

The wealthiest 1% of taxpayers may soon find themselves in the crosshairs of an expert group of agents.

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More Trending

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IRS proposes to change rules for sales of seized property

Accounting Today

IRS proposes to change tax rules for sales of seized property

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Cost Accounting Standards (CAS): A Comprehensive Overview for Government Contractors

Cherry Bekaert

Cost Accounting Standards (CAS) are 19 standards and rules promulgated by 41 U.S.C. 422. These standards impact emerging small and large businesses alike. They are designed to achieve uniformity and consistency in cost accounting practices and to improve the accuracy of cost data by ensuring its basis on consistent definitions and principles. Ultimately, the Federal government wants a reliable basis for cost comparison and decision making.

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U.S. companies to face digital services taxes, Yellen says

Accounting Today

Treasury Secretary Janet Yellen indicated the U.S. will be unable to sign a treaty on global tax rules in time to uphold a deal that prevents other countries from imposing new levies on some of the largest American tech companies.

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IRS to Try Out Its Free E-Filing Tax Return Program in 13 States Next Year

CPA Practice

Thirteen states have agreed to participate in a trial run of the IRS’s free online return filing system, called Direct File, during the 2024 tax season, the agency said on Tuesday. Danny Werfel “This is a critical step forward for this innovative effort that will test the feasibility of providing taxpayers a new option to file their returns for free directly with the IRS,” IRS Commissioner Danny Werfel said in a statement on Oct. 17.

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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.

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The Future of Legal Workforce: Human Talent, AI and New Technology

Cherry Bekaert

How AI & New Technologies Are Changing the Game As legal technology advances, law firms are becoming more efficient and improving client experiences. However, this also raises concerns about the future role of human talent in law firms. The legal workforce’s roles are changing due to established systems like cloud storage and newer innovations like generative AI.

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How Accounting and Tax Pros Can Help Clients Strategize on Social Security

CPA Practice

By Bhairavi Parikh, CPA. Social Security is a program designed to offer retirement benefits and disability income to eligible individuals, as well as their spouses, children, and survivors. In 2023, an average of almost 67 million Americans per month will receive a Social Security benefit totaling about $1.4 trillion in benefits paid. Out of 67 million, 52 million are retired, 8.7 million are disabled, and 5.8 million are survivors.

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2023 Xero Awards Canada Winners

Xero

Back in July, we announced the launch of the first-ever Xero Awards in Canada. This initiative celebrates Xero’s valued accountants, bookkeepers, and app partners by putting them in the spotlight and recognizing their commitment to excellence and ongoing support of the small business sector. Thank you to each and every one of you who took the time and commitment to submit an entry.

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Taxpayer Interest in IRS’s Direct File Program May Have Been Exaggerated

CPA Practice

Last May the IRS announced that it would be piloting a free, government-provided online tax filing option called Direct File next year after a feasibility study concluded that the agency was technically capable of providing this type of tool to taxpayers and that there was interest among taxpayers in using an IRS-provided program to prepare and file their taxes.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Client gifts that always deliver

Accounting Today

Don't underestimate the power of sending something that's tangible in this digital age — something that someone can hold and touch.

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American Living in Monaco Pleads Guilty to $5.1 Million IRS Tax Evasion

CPA Practice

A U.S. citizen residing in the Principality of Monaco has pleaded guilty to tax evasion for concealing from the IRS over $5,130,000 in income derived from a real estate transaction and securities investments in offshore bank accounts. According to court documents and statements made in court, Stephen L. Schechter was a licensed U.S. investment banker, U.K. corporate finance advisor and owner and operator of a U.S.

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Layoff Watch ’23: KPMG UK Is Laying Off 6 Percent of Its Deal Advisory People

Going Concern

Media across the pond is reporting this morning that KPMG UK is laying off about 6% of its deal advisory people, 110 employees according to City A.M. The remaining 1700 or so deals folks have been informed not to expect any raises this year. Said a KPMG spokesperson to City A.M. : “A challenging economic environment has driven a softening in a number of markets, including the deals market.

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Retail Sales Grew in September, But Core Year-Over-Year Gains Are Slowing

CPA Practice

Retail sales continued to grow in September even as consumers faced continuing economic pressures, according to the National Retail Federation. “September retail sales show that consumers have retained the ability and willingness to spend despite accumulating economic headwinds from higher interest rates and slowing growth,” NRF President and CEO Matthew Shay said.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Adler finds small auditor to vet results after long search

Accounting Today

The real estate company has been trying to hire a new auditor since its previous one, KPMG, quit in May last year.

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What type of service guarantees do accountants offer?

Mark Lee

Let’s be realistic. If you did some work for a client but they weren’t happy because you made a big mess of it, would you insist on charging them extra to correct your mistake? I hope you wouldn’t even consider trying to charge extra to resolve a mistake of your own making. To my mind this is the start of a service guarantee. And it’s the sort of thing, which, if promised up front, can help generate confidence from prospective clients.

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Prepare Your Practice: Key Considerations for the Impact of Upcoming 2024 Time-Based Split Billing

Withum

On November 1, 2022, the Centers for Medicare & Medicaid Services (CMS) released its finalized 2023 Medicare Physician Fee Schedule (MPFS) final rule. Among other critical updates summarized by CMS, the 2023 MPFS includes a reduction in the conversion factor from $34.6062 to $33.0607, reflecting the expiration of the temporary 3% supplemental increase in fee schedule payments for CY 2022.

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How controllers expect talent needs to change in the next five years

Accounting Today

As more technology becomes embedded in the controllership, corporate controllers must rethink the talent composition of their teams.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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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What’s New from Microsoft Power Platform Conference 2023? Power Automate: Copilot and Other Updates 

Withum

Last week, I had the privilege of attending the 2023 Microsoft Power Platform Conference in Las Vegas, Nevada. The conference was a huge event that brought the Power Platform community together from across the globe to discuss upcoming news and the future of the Power Platform. This year, the event’s overall theme focused heavily on Microsoft Copilot, which will be generally available for enterprise customers on November 1, 2023.

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In the blogs: Totally unacceptable

Accounting Today

War and relief; the gap; partner pay; and other highlights from our favorite tax bloggers.

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Benefits of Matching Financial and Non-Financial Data

Withum

Healthcare-related not-for-profits have a myriad of different funding sources that support operations. These can come in the form of contributions, program service revenue, and governmental grants. With all these different funding sources, it is imperative that healthcare-related not-for-profits have a general ledger system that can support both financial reporting and operational efficiency.

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Stick with high standards — and 150 hours

Accounting Today

Dropping the bar to entry isn't the answer to accounting's pipeline problem, writes Rick David.

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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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Menopause at Work

Menzies

Menzies LLP - A leading chartered accountancy firm. Nicky Purnell , Marketing Director, Jodie Watling , Director, Wealth Management, and Penny Hitch , Manager discuss all things menopause and how to cope in the workplace. The speakers discuss multiple topics such as personal top tips and small changes your workplace could make to create a huge difference.

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Avalara Expands Partnership with Oracle NetSuite to Deliver Integrated E-Invoicing Solution

CPA Practice

Avalara, Inc. , a provider of cloud-based tax compliance automation for organizations of all sizes, is partnering with Oracle NetSuite to help customers to streamline invoicing even more within NetSuite. NetSuite Electronic Invoicing, which is powered by Avalara, will allow organizations to increase efficiency, reduce costs, and address compliance with global e-invoicing mandates.

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Outsourced Accounting Services: A Game-Changer for Your Business

LSLCPAs

Outsourcing accounting services has proven to be a game-changer for many companies. Beyond streamlining accounting processes, it offers numerous benefits that go beyond having an in-house person or a small team managing everything. Let’s delve into what you can expect from outsourced accounting services at the CFO and Controller level, along with specific examples of.

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Public Companies and Cyber Breaches

Insightful Accountant

FoxPointe Solutions' Christopher Salone explains what your public company clients should know about the new SEC cyber material rules

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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