Thu.Dec 12, 2024

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Financial Forecasting for the New Year: What Businesses Need to Know

GrowthForceBlog

8 min read December 12th, 2024 Every new year brings new challenges and opportunities in business. It's up to business owners to ensure they are prepared for what lies ahead in the coming year. The best business leaders keep a continuous eye on the future. Key Takeaways Types of Financial Forecasts: Business leaders can generate forecasts for just about any aspect of their business.

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Marketplace facilitators, holiday sales and tricky nexus

TaxConnex

Holiday shopping season offers probably the years best chance for your online business to score big, not only through sales on your own website but also through household-name marketplace facilitators like Amazon. Black Friday this year saw a record $10.8 billion in U.S. online sales up 10.2% over last year. Cyber Monday wasnt far behind, as consumers looked to spend $13.2 billion, up more than 6% over 2023.

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The best and worst states for corporate taxes

Accounting Today

From those with no corporate tax at all, to those that tax everything they can a guide to most and least competitive states when it comes to taxing businesses.

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We Have a New Website!

CPA Practice

Its been months in the works, and today we are excited to share our new site with you! Please click around, enjoy the new features, explore the site, and by all means please share your feedback with us in the Comment section below!

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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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How to Get Cost of Goods Sold for Your Business

Patriot Software

Before you can begin looking into your businesss profit, you need to understand and know how to calculate cost of goods sold (COGS). So, where do you begin? Start here by learning all about COGS, including how to get cost of goods sold using the cost of goods sold equation.

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Does Your Business Need an In-House Accountant or a CPA Firm?

Summit CPA

It takes a lot of hard work, time and skill to keep a small business running smoothly, day to day. There are so many tedious tasks that take time away from the important work that needs to be done. Even if you have all the brains and brawn to wear all those different hats, trying to take care of everything yourself could soon become very overwhelming.

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Top Tips on Cash Flow Management for Startups

inDinero Tax Tips

It finally happened investors saw your vision, you raised a Series A, and now you have the green light to grow as quickly as possible. Now what? Or perhaps youre building an MVP and scrapping for revenue. Your idea has potential, but you have to diligently manage resources until you can raise seed funding. Regardless of where you are in your journey, cash flow management for your startup will be crucial.

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From Data to Decisions: How CFO Support Services Enhance Strategic Financial Planning

AccountingDepartment

In today's rapidly evolving business landscape, the ability to turn raw data into actionable insights is paramount for sustainable growth and success. For many organizations, especially those without the resources to maintain a full-scale finance department, CFO support services offer a critical link between data and decision-making. These services transform complex financial information into strategic plans that drive business excellence.

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Firms Tell the PCAOB There’s an Offshoring Brain Drain

Going Concern

The PCAOB released a Spotlight the other day [ PDF ] and it seems large firms are just now recognizing that increased offshoring might have a negative effect on the foundational skills early-career auditors. By “negative effect” we mean a loud sucking sound as these tasks get pumped to distant corners of the world where offshore staff work for pennies on the dollar.

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Forensic Accounting for Construction Claims

FraudFiles

Tracy Coenen talks about the prevalence of fraud allegations related to construction projects and the work a forensic accountant can do in construction claims. She goes through the basics of the financial analysis performed on the numbers and documents related to the construction project. The construction analysis includes a comparison of the following numbers: Total [.

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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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Understanding Key Definitions and Reporting Requirements Under Regulation C for HMDA Reporting Purposes

Anders CPA

Navigating the complexities of Regulation C as it applies to HMDA reporting can be daunting, but understanding key definitions and reporting requirements can ensure your financial institution remains in compliance. Brad Stumpe, CPA, CRCM , partner and compliance and loan review practice leader, hosted a webinar, HMDA Refresher Including What Reporters Must Know Prior to Section 1071 Implementation , to inform financial institutions of their obligations under HMDA reporting requirements.

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Optimizing Sales and Efficiency in Chemical Manufacturing Through CRM Solutions 

Withum

Are you struggling to keep your chemical manufacturing operations efficient while driving sales? In this fast-paced industry, staying competitive is essential. The current sales process is complex and challenging to systematize. Lets explore how to rethink your sales process and offer simple CRM strategies that can enhance sales, minimize inefficiencies and optimize regulatory compliance.

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Top Remote Accountants of the Week | December 12, 2024

Going Concern

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.

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Tax Fraud Blotter: Chips have fallen

Accounting Today

Dutch treat; for the record; last Resort; and other highlights of recent tax cases.

Tax 52
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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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54% of Hiring Managers Warn Against Too Much Honesty at Work

CPA Practice

While 70% of hiring managers believe employees should feel comfortable discussing personal issues with their manager if they impact their work, nearly 39% find it challenging to help employees navigate these issues (e.g., health, relationships, finances) to improve productivity.

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COSO offers governance framework for RPA

Accounting Today

The Committee of Sponsoring Organizations of the Treadway Commission published a framework for imposing internal controls over robotic process automation.

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Students Stressed and Anxious While Higher Education Funding Questions Loom

CPA Practice

Two of their top eight stressors include finances. Cost of living is the second-most common stressor (35%), followed by paying for college/student loan debt (29%).

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Bill announces 1099 filing tool

Accounting Today

Payment solutions provider Bill released a tool that lets users manage their AP needs and 1099-NEC and 1099-MISC forms together from a single platform.

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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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Retirement Regrets Spark Financial Resolutions for the New Year

CPA Practice

82% of employees over the age of 45 wish they had sought advice or guidance on retirement savings when they were younger.

payroll 52
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Zoho announces payroll solution, plus other enhancements

Accounting Today

Zoho announced the US release of its end-to-end payroll solution, Zoho Payroll, on top of enhancements to its existing suite of finance products, which include Zoho Books, Zoho Inventory, and Zoho Practice.

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Survey Emphasizes the Importance of AI in the Future of the Controllership Function

CPA Practice

The report concluded that Generative AI has the potential to reduce the burden of human interaction for many types of tasks, freeing up a workforce for higher productivity and space for more ambitious strategies.

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The strategic value of a background in accounting

Accounting Today

Accountants' skill sets can help them navigate leadership, foster innovation and drive successful financial operations in any organization.

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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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Every Season is Tax Season for Small Businesses. Better Financial Tools Can Reduce the Burden

CPA Practice

According to SCORE, 82% of small businesses fail due to issues managing cash flow. If money has not been set aside for taxes, an unexpected rise in expenses can cause their business to fail. As a result, personal savings can be wiped out, and those with small business loans can go into debt.

Tax 52
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Ted on Tech: Last-minute gift ideas

Accounting Today

Stumped on gifts for friends, family or even coworkers? How about some tech?

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Tax Filers Face the Festive Pinch As Many Struggle to Down Tools 

Accounting Insight

63%* of people admit they find filing tax returns stressful Over a fifth (22%) admit losing sleep as the deadline looms The crunch is also affecting family time, with over a quarter (27%) of people saying they spent less time with friends and family due to the demands of filing their tax returns Incredibly, more than 25,000 people filed tax returns on Christmas Eve, Christmas Day and Boxing Day last year Executive Coach, Jessica Rogers offers top tips for staying financially and mentally healthy

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Wolters Kluwer brings multi-year audit planning, business rules engine to TeamMate+

Accounting Today

The features automates audit planning over multiple periods and provide in-context guidance for end users of the audit management platform.

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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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Consumer Housing Sentiment Up Significantly Year over Year

CPA Practice

This month, a new record-high share of consumers indicated that they expect mortgage rates to decline over the next 12 months, while fewer respondents said they expect home prices to rise.

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CPA firm M&A continues to be all about money and advantage

Accounting Today

Acquirers and successors, especially private equity-infused ones, are going to place an emphasis out of the box on high-performing firms.

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Podcast: A Snapshot into Pre-Pack Administrations

Menzies

Menzies LLP - A leading chartered accountancy firm. Join Giuseppe Parla , Bethan Evans , and Alexandra Davies for an insightful discussion on the fundamentals of administrations, the concept of pre-packed administrations, and how the profession has worked to enhance perceptions of these arrangements. If you’re a creditor, discover the key factors to watch for when a company enters administration.

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Tax Pros: use AI to simplify and elevate your work

Accounting Today

The writing is on the wall, and the potential benefits of AI are astounding. So, it's important for tax professionals to talk about generative AI, and to use it at work.

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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.