Fri.Jul 05, 2024

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Preventing Corporate Fraud

FraudFiles

Executives have the means to commit and cover up the largest frauds. They have access to the information and computer systems, they have power over all employees and they have access to the money. The finance function is riddled with fraud risks and the company’s executives are in the best position to take advantage of [.

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Practice Profile: A hand up for young accountants

Accounting Today

Huselton, Morgan and Maultsby's Student Leadership Program aims to steer more students into accounting — and prepare them for other decisions down the line.

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Trending Sources

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Danny Werfel’s Cat Is the IRS’s New Social Media Darling

CPA Practice

IRS Commissioner Danny Werfel recently dropped by the studios of NBC10 in Boston to talk about tax scams, the agency’s Direct File tax-filing software, and how the IRS is trying to reach a younger audience via social media. That led to a discussion about Werfel’s cat, Emmett. Why? “We have just now started to put my cat Emmett out there as the expert on tax scams,” Werfel said during the interview.

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How to Complete a Market Analysis the Right Way

Patriot Software

When you start a business, do you just wing it? Or, do you take time to plan and research your strategies before you jump into the market? If you’re like most entrepreneurs, you probably prepare your business before taking the plunge.

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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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Fewer Workers Planning to Change Jobs

CPA Practice

Despite elevated job openings, the Big Stay is not going away, according to new research from talent solutions and business consulting firm Robert Half. In a recent survey, 35% of workers plan to look for a new job in the second half of 2024, down from 49% who had similar plans during the same period last year. Year-over-year, job search plans have declined across generations: Generation July 2023 June 2024 Gen Z 74 % 44 % Millennials 63 % 45 % Gen X 44 % 26 % Baby Boomers 23 % 13 % See job sear

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Ask what you can do for your profession

Accounting Today

Whether there will be a next generation of accountants is, in many ways, up to all of us.

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UK General Election: The tax implications of a new, Labour government?

Wellers Accounting

Chris Thompson speculates off the 2024 UK General Election result how the newly elected Labour government could raise taxes.

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California Gas Tax Increases

CPA Practice

Rob Nikolewski The San Diego Union-Tribune (TNS) As tensions mount between the petroleum industry in California and state policymakers, the cost of a gallon of gasoline just got a smidge more expensive this week. Monday marked the start of the new fiscal year and California’s state excise tax on gasoline increased 1.7 cents per gallon. That’s part of the annual adjustment for inflation that is part of Senate Bill 1, which the Legislature in Sacramento passed and then-Gov.

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Tech News: Avalara announces 49 new integrations

Accounting Today

Plus, io.finnet launches virtual signer feature for enhanced digital asset operations; Caseware to hold webcast on AI audits; and other accounting tech news.

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Activity-based Costing (ABC) System: Finding Where Your Money Goes

Patriot Software

Not sure what activities your overhead costs are going towards? With activity-based costing, product-focused businesses can get into the nitty-gritty details to better allocate expenses. That means you can more accurately analyze your spending—and price your products. Activity-based costing is a complex subject.

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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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How Accounting Can Impact Your Fundraising Strategies

GrowthForceBlog

6 min read July 5th, 2024 Beyond compliance and annual reporting, fundraising and accounting might not seem inextricably linked. Key Takeaways Maximize the Use of Restricted and Unrestricted Funds: The most valuable type of donation a nonprofit can receive is a contribution of unrestricted funds because this money can be used for any purpose, whether it be spent directly on the mission or on overhead expenses… Use Accounting Software and Organization-Wide Integrations: No nonprofit team has the

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How to Post Journal Entries to the General Ledger

Patriot Software

As a business owner, you juggle a number of tasks, including accounting. You’re responsible for creating journal entries after every transaction. But that’s not all. You also need to know how to post journal entries to the general ledger. Learn how here.

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On the move: MGO names new CIO

Accounting Today

New Plante Moran managing partner begins tenure; Withum promotes 20 to partner; and more news from across the profession.

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Oklahoma Taxpayers Get Extended Deadline Due to Storms

CPA Practice

The Internal Revenue Service is providing a tax relief extension for individuals and businesses in Oklahoma that were affected by severe storms, straight-line winds, tornadoes, and flooding that began on May 19, 2024. These taxpayers now have until Nov. 1, 2024, to file various federal individual and business tax returns and make tax payments. Following the disaster declaration issued by the Federal Emergency Management Agency (FEMA ), individuals and households that reside or have a business in

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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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Estate planning for divorcing couples

Accounting Today

When your clients are divorcing, you need to figure out two things: Which one is your client, and who is their attorney?

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Building On Solid Ground: Your Construction Bookkeeping Foundation

Randal DeHart

As a construction business owner, you must stay informed about your finances and financial situation. You do this through bookkeeping, the process of recording transactions in your business. This includes transactions, credit card charges, and any other economic activity within your company. Financial management can easily be overlooked when managing projects, dealing with subcontractors, and ensuring customer satisfaction.

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3 advantages of a corporate tax solution with premium certification from SAP

ThomsonReuters

Staying compliant with tax requirements is stressful enough when everything runs smoothly. However, managing tax compliance becomes increasingly complex as your company grows, making simplifying tax management a top priority. Evaluating your current corporate tax solutions As your business expands, so must your technology. Without careful planning, a corporation can end up with inefficient, disparate solutions that don’t integrate.

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Tax Implementation Guides: Income Shifting as a Tax Strategy

CTP

Any sophisticated tax strategy needs at least one thing to be successful: an implementation plan. While you may have a clear vision in mind for how things will unfold, if the taxpayer isn’t on the same page as you, the strategy will fall flat. Part of how you can contribute your expertise is by emphasizing the importance of assigning specific people to each step—even if that means hiring outside help—and creating a timeline for meeting deadlines.

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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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Plante Moran Appoints New Managing Partner

CPA Practice

Jason Drake has been named managing partner of Plante Moran, one of the nation’s largest audit, tax, consulting, and wealth management firms. As managing partner, Drake will focus on firm growth and investments in people and technology, while also maintaining Plante Moran’s rich culture and dedication to client service. Drake succeeds Jim Proppe, who held the position for the last seven years.

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How To Get Bookkeeping Clients Quickly: 19 Tips To Use In 2024

Ryan Lazanis

Discover how to get more bookkeeping clients fast with our comprehensive guide. Learn effective tips to quickly find and grow your business. The post How To Get Bookkeeping Clients Quickly: 19 Tips To Use In 2024 appeared first on Future Firm.

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Why Review Your UK Workplace Pension Scheme Provider

Menzies

Menzies LLP - A leading chartered accountancy firm. With offering a Workplace Pension Scheme a mandatory requirement since the introduction of Automatic Enrolment, many employers may feel that having set up a scheme, their job is done and dusted. In reality, employers have an obligation to ensure their pension scheme remains fit for purpose, both in its suitability for its members and how it’s being managed.

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U.S. Job Growth Slows

CPA Practice

Matthew Boesler Bloomberg News (TNS) U.S. hiring and wage growth stepped down in June while the jobless rate rose to the highest since late 2021, bolstering prospects that the Federal Reserve will begin cutting interest rates in coming months. Nonfarm payrolls rose by 206,000 and job growth in the prior two months was revised down by 111,000, the Bureau of Labor Statistics said Friday.

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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.