Accounting Insight

AUGUST 15, 2024

New data from the Chartered Institute of Payroll Professionals (CIPP) and its annual Payslips Statistics Report reveals that employees are keen to have more financial wellbeing support from payroll. This year, the report features two questions from the Money and Pensions Service (MaPS), including the key question on employee financial wellbeing. Financial wellbeing has received increased attention in recent years, compounded by the cost-of-living crisis and inflation pressures.

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TaxConnex

AUGUST 15, 2024

General tax laws are strange. Maybe sales tax laws make more sense? You can be the judge of that. In Florida, you can get a tax break for displaying a cow on your property. You can get a big tax break in New Mexico if you just live to 100. Louisiana lets small private aircrafts soar tax-free, and Connecticut extends that to bigger planes. Some taxes are used to benefit specific groups.

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Accounting Today

AUGUST 15, 2024

The timing came months before the reports have been released in recent years thanks to ongoing efforts to accelerate the release of reports.

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Going Concern

AUGUST 15, 2024

Well, at least it’s not Employee Retention Credits or PPP fraud. Courtesy Chicago’s WGN , the food service director for Harvey School District 152 in the southern burbs pleaded guilty last Friday to stealing $1.5 million of food — mostly chicken wings — under the cover of providing meals to students learning remotely at the height of COVID.

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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.

Account

CPA Practice

AUGUST 15, 2024

For a limited time, businesses that incorrectly claimed the pandemic-era Employee Retention Credit (ERC) can voluntarily return the refunds they received without having to pay any penalties or interest—or worry about being audited. The IRS announced on Aug. 15 that it’s reopening the voluntary disclosure program through Nov. 22, and those businesses that apply for and are accepted into the program have to repay 85% of the tax credit back to the agency.

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Summit CPA

AUGUST 15, 2024

As a business owner , you probably have a destination in mind – a certain revenue number, a certain exit date, a certain percentage of growth. That’s the first step in creating a dynamic forecast : to decide where you want to go and how fast you want to get there.

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Accounting Today

AUGUST 15, 2024

Host of problems; comp it; plan to fail; and other highlights of recent tax cases.

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SkagitCountyTaxServices

AUGUST 15, 2024

Adieu, Summer Olympics 2024. Paris 2024 didn’t disappoint. Were you like most of the world in watching? It seems like Americans were glued to all 13 days of nonstop competition both on live TV and through the ever-entertaining athlete social media streams. And speaking of social media, thanks, Olympic committee, for relaxing rules around social media posting which brought us this.

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Accounting Today

AUGUST 15, 2024

Three-quarters of business leaders expect increased return on investment for generative AI will increase in the next three years, according to a new KPMG survey.

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GrowthForceBlog

AUGUST 15, 2024

8 min read August 15th, 2024 Over the past few years, there has been a major shakeup in the C-suite, as businesses have increasingly replaced their in-house chief financial officers (CFOs) with outsourced CFO services (also called fractional CFO, interim CFO, virtual CFO, or vCFO services). Between 2021 and 2022 Google searches for "fractional CFO" grew by 535%.

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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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Withum

AUGUST 15, 2024

The 2024 ACFE Report to the Nations represents the 13th edition of the most extensive global study on occupational fraud. Drawing from 1,921 real cases of occupational fraud across 138 countries and territories, this comprehensive report delves into the intricate web of costs, schemes, victims, and perpetrators associated with fraud. Let’s explore how the pandemic influenced fraud trends and what organizations must consider moving forward.

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Accounting Today

AUGUST 15, 2024

Diya Jolly, chief product and technology officer with Xero, touted its proprietary gen AI assistant JAX, which she said controls hallucinations for enhanced accuracy.

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Cherry Bekaert

AUGUST 15, 2024

Contributors: Artan Ivezaj and John Ford Purchasing (subcontracting) systems are an essential aspect of government contracting that contractors need to pay attention to. With the increasing number of solicitations and requests for proposals (RFPs), including business system requirements or providing additional points for an offeror with an approved purchasing system, it is crucial for companies to develop a system that complies with the regulations and adequately documents procurements on govern

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Accounting Today

AUGUST 15, 2024

Organizations looking to claim elective pay for 2023 projects should complete the process in advance, the agency recommends.

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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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Going Concern

AUGUST 15, 2024

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. ACCOUNTING CANDIDATES FTE Accounting | Candidate ID #22164769 Certifications: EA in process Education: BS BA, MBA, MS Accountancy Experience (years): 5+ ye

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Withum

AUGUST 15, 2024

As a sector, manufacturing has one of the highest environmental impacts globally. The industry is responsible for about 20% of global emissions and significantly affects other biodiversity, water use, deforestation, and waste, as well as social issues like labor rights and modern slavery. Because of its vast environmental and social impact, the manufacturing industry is more heavily regulated than most other sectors.

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CPA Practice

AUGUST 15, 2024

There are now 16 public accounting firms in the U.S. that surpassed the billion-dollar mark in revenue during their most recent fiscal year, according to the newly released top 500 firms ranking for 2024 from INSIDE Public Accounting. New York City-based CohnReznick joined the “billion-dollar club” with revenue of $1.05 billion. There were 15 firms that surpassed $1 billion of revenue last year.

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Withum

AUGUST 15, 2024

Net working capital (NWC) plays a critical role in executing M&A transactions, as it influences the closing purchase price and the transition of operations from seller to buyer. NWC represents the difference between a company’s current assets (e.g., cash, accounts receivable, and inventory) and its current liabilities (e.g., accounts payable, accrued expenses, and short-term debt).

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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

Sales

CPA Practice

AUGUST 15, 2024

By Charles E. Ramirez The Detroit News (TNS) A Detroit woman convicted of being an unlicensed accountant and unlicensed real estate agent has been sentenced to two years of probation, officials said. Krystal Davis, 37, was sentenced Tuesday in Wayne County Circuit Court for accounting violations—being an unlicensed certified public accountant and two counts of violating the state occupational code-being an unlicensed real estate agent, the Michigan Attorney General’s Office said.

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LSLCPAs

AUGUST 15, 2024

As a business owner, you must continuously monitor your business’s financial health. As part of your ongoing profitmaking endeavors, you will work closely with banks and lending institutions who will need to see your financial statements occasionally. A robust, ongoing relationship with your banker will be beneficial when you seek a loan or an independent.

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CPA Practice

AUGUST 15, 2024

London-based accounting and payroll solutions company IRIS Software Group has teamed up with fellow London company AccountsIQ, a provider of fully cloud-based accounting software, on an integrated suite of cloud-based payroll, human resources, and finance solutions that enable businesses to streamline operations, facilitate cross-departmental collaboration, and help make data-driven decisions.

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Accounting Insight

AUGUST 15, 2024

Introducing Karen Eckstein (LLB, CTA, Cert IRM), a specialist in risk for tax and accountancy professionals and is the founder of Karen Eckstein Ltd. With over 30 years’ experience of defending claims against the profession, Karen works with firms to prevent claims arising and helps them have happy healthy relationships with their clients and to be more profitable.

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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.

CPA Practice

AUGUST 15, 2024

A strategic collaboration between small business financial platform Lili and business decisioning and analytics firm Dun & Bradstreet is centered around helping businesses overcome barriers to accessing credit and capital. “ More than three quarters of small business owners are concerned about their ability to access capital, and hurdles in accessing credit can significantly curtail business growth,” Lili said in a media release about the partnership.

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KROST

AUGUST 15, 2024

Living and working overseas presents many opportunities and challenges, including navigating the complexities of U.S. tax laws. The IRS Form 2555 is a critical tool that allows U.S. citizens or resident aliens (“green card” holders) living and earning income abroad to manage their tax obligations effectively. This form enables eligible taxpayers to claim the Foreign Read the full article.

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CPA Practice

AUGUST 15, 2024

Top 50 CPA firm Schellman & Co. has added INSYTE CPAs, a Birmingham, AL-based firm whose professionals specialize in risk management, internal control, and business performance. As part of the transaction, INSYTE’s clients and personnel will transition to Tampa, FL-based Schellman. Led by founder and Managing Partner Cindy Wyatt, INSYTE CPAs’ clients include both public and private companies from a variety of industries, including healthcare, banking, insurance, government contractors, and o

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Anders CPA

AUGUST 15, 2024

How does a 70-year-old PBS station evolve new approaches to public media to remain relevant and impactful even as the media environment around it changes? Through innovative new approaches and a commitment to its community. Nine PBS is a St. Louis cornerstone with a long history of adapting to fit the changing times, and that constant evolution helped it become the most watched PBS station in the country, as a percentage of households watching.

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Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Menzies

AUGUST 15, 2024

Menzies LLP - A leading chartered accountancy firm. Overview HMRC have advised they are currently targeting dog and cat breeders who may have undisclosed income from the breeding and sale of animals. But it’s not just breeding that might cause a tax problem, as pet sitters will also fall onto HMRC’s radar with the introduction of the online platform reporting rules.

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Accounting Today

AUGUST 15, 2024

Two years after a landmark climate law promised to kick-start green hydrogen production with tax credits, companies still don't know who will qualify.

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Canopy Accounting

AUGUST 15, 2024

Join industry leaders John Mitchell and Darren Root in this exclusive video series as they discuss the evolution of accounting firm management.

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Insightful Accountant

AUGUST 15, 2024

Thanks to our readers, we can now share actual stories of good and bad migrations from QuickBooks Desktop to QuickBooks Online.

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quickbooks 52

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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.