Fri.Sep 27, 2024

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The Fraud Factor: How Outsourced Bookkeeping Can Safeguard Your Company

Randal DeHart

Fraud can be a significant threat to businesses of all sizes in any industry. Construction companies are not spared and are even more vulnerable to various fraudulent activities, from bid rigging and inflated costs to payroll fraud and misuse of funds. Many small business owners have become increasingly concerned about fraud after the pandemic. According to SAP Concur (An expense management solutions company), a staggering 85% of businesses surveyed expect the risk of fraud to continue.

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IRS debuts new process for third parties with bad ERC claims

Accounting Today

Third-party payers like payroll providers can now withdraw claims for individual clients.

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IRS Reveals New Process For Third-Party Payers to Fix Erroneous ERC Claims

CPA Practice

The IRS is opening a supplemental claim process to help payroll companies and third-party payers and their clients resolve incorrect claims for the Employee Retention Credit (ERC), the agency announced on Sept. 26. The move comes more than a month after the IRS announced it has once again opened the ERC voluntary disclosure program through Nov. 22. Businesses that incorrectly claimed and received the pandemic-era tax credit can voluntarily repay 85% of it back to the agency without having to pay

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Data shows there is room for both advisory and compliance

Accounting Today

Recent data has found that successful firms maintain a balance of both advisory and compliance engagements.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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Remote Tax Roles Disappear as Job Seeker Demand Soars

CPA Practice

The number of candidates looking for remote tax roles in the accounting sector is significantly outweighing the number of remote jobs available, according to a new analysis. The research , led by specialist staffing agency, Distinct, compares job post and seeker volumes from July 2023 to July 2024. It reveals a growing disconnect as accounting employers pull back on remote positions as demand for them continues to rise.

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On the move: MACPA names 2024 Women to Watch

Accounting Today

Your Part-Time Controller appoints chief growth officer; LBMC launches family law support services practice; and more news from across the profession.

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Tech news: Schellman becomes first certification body for ISO AI standard

Accounting Today

Plus, AuditBoard announces new analytics features; Airbase launches 'Touchless AP' capacities; and other accounting technology news.

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Executive Roundtable Meets in New York City

CPA Practice

The place to be this week is New York City where many leaders of the accounting technology community are talking about the issue of responsible AI. The annual meeting of the AICPA/CPA.com Executive Roundtable featured presentations by 47 technology vendors serving the accounting profession as well as in-depth discussions about the future of the profession, an update from AICPA President and CEO Barry Melancon and CPA.com President and CEO Erik Asgeirsson, the latest news about private equity and

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Kirsch CPA announces ESOP

Accounting Today

Kirsch CPA Group in Hamilton, Ohio, is one of the first small firms to transition to an employee stock ownership program.

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Weaver’s Upgrading to a Whole Floor in NYC

Going Concern

Cue The Jeffersons theme song, Weaver’s movin’ on up in Manhattan. According to The Real Deal , Weaver (#31 IPA 100, $328,276,610 in revenue) is taking 36,500 square feet at the Penn 1 building in Midtown. The move comes after they merged with Buchbinder Tunick & Company who already had 8,000 square feet at the tower. A source tells TRD asking rent for the entire 28th floor was $105 per square foot and the lease duration is 11 years.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Welcome the whip-crackers

Accounting Today

Private equity may bring valuable, if not entirely welcome, changes to the accounting profession.

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Top 3 Takeaways from Dreamforce 2024

Accounting Seed

Dreamforce 2024 was nothing short of extraordinary! As Salesforce’s flagship event, it provided unparalleled insights into the future of business technology, innovation, and customer success. Having been to the annual user conference for over 12 years, the Accounting Seed team remains inspired by all that Salesforce brings to San Francisco during a fantastic action-packed three days.

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Are AI and Automation the Same? FAQs to Guide Your Company’s Technology Strategy

Anders CPA

Many businesses are exploring the advantages offered by automation and AI, but with so many options to choose from, it’s difficult to know where to start. Understanding the different types of automation and the various case uses of AI are the first step to learning how these technologies can impact your business. Julia Deien , Anders partner and technology practice lead, answered some frequently asked questions business leaders want to know before they take on AI and automation in an article for

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Commercial Property Tax Savings: Know the Methods for Property Valuation

CTP

The latest property tax bills are giving property owners a severe case of sticker shock—especially if they are still in the process of getting a new income-producing property to actually produce income! If you own a commercial property, you may find yourself hustling to cover the cost of your recent tax bill. Before the next bill is issued, one of the best uses of your time may be to learn how to appeal your property tax assessment.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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Enhancing IDT compliance in 2024 and beyond: Strategic collaboration for e-invoicing success

ThomsonReuters

← Blog home In 2024, Poland, Romania, Denmark, and Malaysia are implementing electronic invoicing (e-invoicing) mandates that demand more tax data in real-time. They are not alone in this trend: More than 30 jurisdictions have enforced some form of e-invoicing mandates. Countries such as Poland, Belgium, Germany, Spain, and China, among others, have announced mandates to begin within a two-year period amidst a global surge in continuous transaction control (CTC) systems.

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Barnes Dennig and Greenwalt CPAs to Join Forces

CPA Practice

Top 200 accounting firm Barnes Dennig and Indianapolis-based Greenwalt CPAs are combining, effective Jan. 1, 2025, expanding services for clients of both organizations. The combined firm will have about 215 employees and five offices in three states: Ohio, Indiana, and Kentucky. All locations will maintain their current offices and employees, with two locations in Indianapolis, as well as offices in Cincinnati and Dayton, OH, and in Crestview Hills, KY.

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Case Study: From Pain Points to Progress – Union Pension Fund Optimizes Operations

Withum

Operational Process Mapping and Optimization Opportunities for Improvement Download a PDF of this case study. Executive Summary A client in the union pension fund space offers various services including healthcare benefits, retirement and pension plans, disability and life insurance and advocacy support. The company faced challenges with its business systems – expressing a need for comprehensive and holistic general organizational process improvements.

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AuditBoard Adds New Features to Risk Management Platform

CPA Practice

Audit, risk, and compliance software provider AuditBoard has expanded its cloud-based risk management platform with new features to help audit teams improve efficiency and foster collaboration. Available immediately, the new functionalities include: AuditBoard Analytics Enhancements: Nine new out-of-the-box workflows to automate testing and analysis to help audit and internal controls teams uncover risks faster, minimize routine tasks, and enable focus on higher-value initiatives.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Forethought on Exiting Your Business – The Transaction Accountant’s Perspective

Withum

A vast majority of lower middle market business owners have not taken the time to plan for their future exit from the business. There are a number of steps that can and should be taken in the years leading up to this event. The topics discussed below are certainly not all inclusive but meant to give an overview of areas to start with when the eventual exit is likely to be a sale.

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[CPE] Stop Resisting Change & Start Controlling It

CPA Practice

This webinar will be held on Thursday, October 24, 2024 at 3:00pm ET Sponsor: Canopy Software Duration: 1 Hour Register Now This session will delve into the frequent challenges and roadblocks that professionals encounter when initiating change within their firms and with clients. By analyzing real-world case studies and fostering thoughtful discussions, participants will walk away equipped with a comprehensive understanding of change management essentials and their practical application in acco

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Formats for Financial Data in Fraud Investigations

FraudFiles

How should your accounting records be provided to your forensic accountant? Tracy talks about how she wants to receive the general ledger and related data. (Hint: Digital is preferred over paper.

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Accountex Summit Manchester increases attendees by 50% in two years 

Accounting Insight

The sun was shining in Manchester for the sixth edition of Accountex Summit Manchester, which took place on 17 September 2024. The show has continued to break records, welcoming over a thousand more attendees through its doors since 2022. Portfolio Director, Caroline Hobden commented “We are thrilled with the overwhelming feedback from Accountex Summit Manchester this year!

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Investors' relief - a guide to how it works

Wellers Accounting

Tom Walker explains Investors' Relief, how it works, the qualifying conditions, the tax benefits, and compares it to other related tax breaks.

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Friday Footnotes: Private Equity DGAF; Controllers Reflect on Their Future Skill Set; PCAOB Does Something | 9.27.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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E-Invoicing for UK Business Owners: What You Need to Know

Menzies

Menzies LLP - A leading chartered accountancy firm. There has been a clear shift – in Europe and Globally – regarding the adoption of E-Invoicing, with many governments targeting a mandated shift over the coming years. Here we look at what E-Invoicing really means, the drivers of change, and the current state of play for UK businesses. Understanding Real E-Invoicing When we are talking about E-Invoicing in this respect, it is not simply an invoice in electronic format (a pdf, word file or png) w

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What is E-Invoicing, and do I need to worry as a UK business owner?

Menzies

Menzies LLP - A leading chartered accountancy firm. There has been a clear shift – in Europe and Globally – regarding the adoption of E-Invoicing, with many governments targeting a mandated shift over the coming years. Here we look at what E-Invoicing really means, the drivers of change, and the current state of play for UK businesses. Understanding Real E-Invoicing When we are talking about E-Invoicing in this respect, it is not simply an invoice in electronic format (a pdf, word file or png) w

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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What is E-Invoicing, and do I need to worry about it as a UK business owner?

Menzies

Menzies LLP - A leading chartered accountancy firm. There has been a clear shift – in Europe and Globally – regarding the adoption of E-Invoicing, with many governments targeting a mandated shift over the coming years. Here we look at what E-Invoicing really means, the drivers of change, and the current state of play for UK businesses. Definitions When we are talking about E-Invoicing in this respect, it is not simply an invoice in electronic format (a pdf, word file or png) which can be unstruc