Tue.Sep 24, 2024

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How Outsourced CFO Services Boost Financial Performance for Smaller Investment Firms

BurklandAssociates

Outsourced CFO services provide firms with expert financial support, helping partners stay focused on smart investments and strategic growth. The post How Outsourced CFO Services Boost Financial Performance for Smaller Investment Firms appeared first on Burkland.

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EY UK Partners Warned Again Pay Will Suck This Year

Going Concern

Poor EY partners, ever since Project Everest fell apart they’ve really been struggling. While we await EY revenue numbers that should drop some time next month, sources inside EY are running to The Times to say partners are being warned of a second year of pay cuts ahead. Partner pay at EY is set to fall for the second year in a row while senior staff will forgo a pay rise, in a sign that professional services firms are still battling a downturn.

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IRS Revises FAQs on Premium Tax Credit

CPA Practice

The IRS has updated a section in its frequently asked questions about the Premium Tax Credit, a refundable credit that helps low- and moderate-income individuals and families afford health insurance premiums. These FAQs supersede earlier ones that were posted in Fact Sheet 2024-04 on Feb. 9, 2024. In Fact Sheet 2024-30 , which was released by the IRS on Sept. 19, a revision was made under the “Affordability of Employer Coverage for Employees and for Family Members of Employees” section, specifi

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Building an AI-ready firm: Strategies for responsible integration and growth

ThomsonReuters

Jump to ↓ Understanding AI’s impact Step 1: Cultivating an AI-savvy culture Step 2: Developing an AI roadmap Step 3: Implementing AI responsibly Are you ready to become an AI-ready firm? As AI becomes an integral piece of everyday workflow for professionals across all industries, many accounting firms are finding ways to leverage this game-changing technology for increased efficiencies, deeper insights, and a competitive edge.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Consumer Confidence Fell Most in Three Years in September

CPA Practice

By Jarrell Dillard Bloomberg News (TNS) U.S. consumer confidence unexpectedly fell in September by the most in three years on concerns about the labor market and the outlook for the broader economy. The Conference Board’s gauge of sentiment decreased 6.9 points to 98.7, the biggest drop since August 2021, data out Tuesday showed. The figure was below all estimates in a Bloomberg survey of economists.

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More Trending

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Report Says Digital Disruption and Climate Change Are Fastest-Growing Risks for Organizations Worldwide

CPA Practice

Digital disruption and climate change have emerged as the two fasting-growing risk areas for organizations across industries, according to The IIA’s Internal Audit Foundation’s latest Risk in Focus research. Based on feedback from more than 3,500 internal audit leaders around the world, global risk levels for digital disruption and climate change are projected to increase 20 percentage points and 16 percentage points, respectively, over the next three years – far outpacing other risk areas.

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PCAOB sanctions five firms

Accounting Today

The sanctions against Accell, Crowe MacKay, EY Switzerland, Grant Thornton Canada and Halpern 7 Associates come following an ongoing enforcement sweep.

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Why Your Business Needs a Sales Tax Software Tune-Up

Cherry Bekaert

Contributor: Tiffany Rodi, Sales & Use Tax Senior Manager Keeping Up With the Ever-Changing Sales Tax Landscape Sales tax compliance is a complex and dynamic area that requires constant attention. Collecting and remitting sales tax can be time-consuming and confusing, especially if you operate in multiple states. Failing to do so can lead to errors, audits and fines that can be costly for businesses.

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The art and science of M&A and technology

Accounting Today

When an accounting firm merges into a larger one, what should they expect regarding their technology?

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Business Travel Expense Strategies for Everybody

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Celebrating Xero success with sixth consecutive Canstar award

Xero

It’s an absolute honour to share that Xero has been awarded Canstar’s Most Satisfied Customer Award in the small business accounting software category, for the sixth consecutive year. This recognition is a testament to the support and trust we’ve earned from small and medium enterprises (SMEs) across Aotearoa New Zealand. We don’t take for granted the support we get from our small business customers, and I’d like to thank everyone who rated us number one.

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Murph's "Scoring Your Best" is Today

Insightful Accountant

If you are even thinking about participating in the 2025 ProAdvisor Awards you won't want to miss this session where Murph provides tips on how you can 'score your best' based on the behind the scenes scoring factors the awards use.

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Grants from A-Z: Preparing for Audit

LSLCPAs

LSL Webinar ‘Back to Basics | Grants from A-Z’ presented by LSL Senior Manager, Krystal Cabrera, CPA, and Supervisor Keili Gonzalez outlined how local government finance departments can navigate the complexities of grant reporting from A-Z. In case you missed it – as grant funding becomes a vital part of many organizations’ financial strategies, understanding.

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Warehouse Wednesday: Acumatica In-depth Part 6

Insightful Accountant

This is a prologue to Murph's 6th part of his in-depth series on Acumatica… a deep-dive into the functionalities designed to meet the needs of Distributors and Warehouse businesses.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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The Complete SEFA Checklist for Grants from A-Z

LSLCPAs

LSL Webinar ‘Back to Basics | Grants from A-Z’ presented by LSL Senior Manager, Krystal Cabrera, CPA, and Supervisor, Keili Gonzalez outlined how local government finance departments can navigate the complexities of grant reporting from A-Z. In case you missed it – when it comes to preparing for year-end, local government finance departments must ensure.

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Here Are the Biggest Gripes HR Hears From Employees

CPA Practice

Those who work in human resources have their finger on the pulse of the frustrations of their firm’s employees, and a new survey from human capital management technology provider isolved reveals the biggest complaints they hear. isolved partnered with Talker Research to survey 1,000 HR professionals across the U.S. about the challenges they face navigating technological advancements, rising employee expectations, and a work culture that can sometimes feel less than civil.

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How is GenAI reshaping the auditor’s skill set?

ThomsonReuters

← Blog home In the evolving landscape of auditing, the integration of Generative AI (GenAI) is reshaping the skill set required for audit professionals. As we delve into this transformation, it’s crucial to understand the new competencies that will keep professionals ahead in their field. Highlights: GenAI is reshaping the auditor’s skill set, requiring professionals to develop critical thinking, technical knowledge, and regulatory compliance expertise.

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Bridging Insights: A Conversation with Catherine Perka, Manager

DMCL

Welcome back to Bridging Insights—a series of candid conversations with DMCL hiring managers, where they provide real insights into life at DMCL and what you can expect when you join our firm. For this edition, we’re chatting with Catherine Perka. Catherine is a Manager at DMCL’s Surrey office, where she provides advisory, accounting, and tax services to a variety of private enterprise and individual clients.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Majority of CEOs Think Offices Will Be Filled Again Five Days a Week By 2027

CPA Practice

The traditional corporate office is expected to be back in full force in about three years, according to a new KPMG report , as 79% of CEOs in the U.S. believe employees “whose roles were traditionally based in-office” will be working again in-person five days a week by 2027. That’s up dramatically from 34% who said the same in the Big Four accounting firm’s U.S.

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Bridging Trust in AI Systems: The Importance of Explainability and Thinking Traces

Withum

The Quest for Explainability and Thinking Traces in OpenAI’s New O1 Model and Beyond We’ve posted a lot on the new OpenAI O1 / Strawberry / Q* model in the past 24 hours. Generally, we avoid using marketing-sounding phrases like “evolutionary” or “qualitatively different,” but this release does stand apart from everything that came before it in the last 12 months.

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AICPA Looks to Amend Standard on Financial Statement Preparation

CPA Practice

The AICPA is seeking to amend its standard related to financial statement preparation, which would clarify that a CPA wouldn’t be required to apply AR-C Section 70, Preparation of Financial Statements, when financial statements are prepared as a byproduct of a client advisory services (CAS) engagement. The exposure draft of the proposed Statement on Standards for Accounting and Review Services (SSARS) can be reviewed here.

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RECs vs. Carbon Offsets: The Difference in Environmental Credits and How They Apply to SBTi Targets 

Withum

In the sustainability sector, two key instruments have emerged: Renewable Energy Certificates (RECs) and carbon offsets. While both are market-based tools that are designed to support environmental initiatives, they serve distinct purposes and are treated differently when setting Science Based Targets (SBTi) emission targets. Understanding RECs vs. carbon offsets is important for companies as they navigate corporate sustainability efforts and set SBTi targets.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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CFO for the Not-Quite-Ready: Exploring Parallel’s AI Solution

IgniteSpot

You’re a business owner eager to elevate your financial strategy — and who wouldn’t be? But before you dive headfirst into hiring a live CFO, let’s explore an exciting alternative that might be just right for you. Enter Parallel , an AI-powered CFO tool designed for entrepreneurs who are interested in what a CFO can do for their company but not quite ready to pay the salary.

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The Road to Commercial Property Tax Savings: Preparing to Appeal an Assessment

CTP

Want information on residential property assessment appeals instead? Read here. Working with property owners can be a lucrative investment—both for your client and for you as a tax professional. To ensure that their income-producing property isn’t losing a huge chunk of its income to taxes, property owners need the support of someone who knows where the tax savings opportunities lie.

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The Changing Landscape of Tax Work

Insightful Accountant

In an era of rapid technological advancement, small tax practitioners find themselves at a crossroads, pondering the potential impact of artificial intelligence (AI) on their profession.

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How to Combat High Commercial Property Taxes: Appeal Your Assessment

CTP

Want information on residential property assessment appeals instead? R ead here. Purchasing an income-producing property may seem like a great financial investment—until you get your property tax bill. How can you offset a substantial tax bill as you simultaneously work to make your property as lucrative as possible? One way is to simply appeal your property tax assessment.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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How to Avoid Scams While Job Hunting

CPA Practice

Kimberly Palmer NerdWallet The Oakland Press, Sterling Heights, Mich. (TNS) When you’re hunting for work, a text alerting you to a new listing that sounds like your dream job could be your big break. But it could also be a scam designed to steal your personal information and money. “Employment scams have been around for awhile, but as technology like AI advances, we’ve seen more scammers try to take advantage of job seekers,” says Toni Frana, lead career expert at FlexJobs, an online platform fo

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How Geospatial Startups Can Capitalize on BioTech and Health Care Success in St. Louis

Anders CPA

To keep St. Louis growing as a startup hub, the region must concentrate on the industry clusters already succeeding in the region and look ahead to future growth opportunities. Take the geospatial industry cluster, which is still in its early stages. In industry clusters like biotech and health care , there’s a hint of what could lie in store for the geospatial industry, granted it’s given the same time and attention.

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54th GST Council Meetings| Amendments and Clarification for Facilitation of Trade

VJM Global

The 54th GST Council meeting was held on 9th September 2024 under the chairpersonship of the union minister for Finance & Corporate Affairs and was also attended by the union minister of finance of some states. During the meeting many of the issues faced by the industries were addressed such as clarification on the applicability of GST rate on some goods and services, recommended issuance of circulars on amnesty scheme for demand notice issued under section 73, implementation of section 16(5

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