Mon.Nov 13, 2023

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Tips for Managing Capacity During Tax Season

Canopy Accounting

It's that time again to begin exploring ways we can manage tax season, stay sane, and still be intentional about how we lead our firms. In this webinar we'll discuss some capacity management tips for those running a tax season with a virtual team (which is more difficult to do than brock and mortar!).

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IRS destruction of paper returns had little impact

Accounting Today

The service's decision to destroy around 30 million unprocessed paper information returns to reduce its backlog during the pandemic probably had little effect on taxpayers, according to a new report.

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Trending Sources

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Americans Received 4.6 Billion Robocalls in October

CPA Practice

U.S. consumers received just over 4.6 billion robocalls in October, representing a 7.9% increase from September’s volume, as robocall volumes continue to oscillate between roughly 4.5 billion and 5 billion robocalls/month. That’s according to a new survey. October averaged 148.7 million robocalls/day and 1,721 robocalls/second, up 4.4% from September’s average of 142.4 million robocalls/day and 1,648 robocalls/second.

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The Texas Board of Accountancy Slapped EY With a Huge Fine

Going Concern

A year and a half after the SEC announced a record $100 million fine against EY , the ghost of cheating past continues to haunt the firm. This time in the form of $3 million payable to the state of Texas. This is the largest administrative penalty the Texas Board has ever assessed against a CPA firm. This from a press release on Friday : EY was the subject of a Securities and Exchange Commission (SEC) order that included a number of professionals licensed as Texas CPAs who were found to have che

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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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Cohen & Co. to Move Into Buffalo After Acquiring CPA and Consulting Firms

CPA Practice

Top 50 accounting firm Cohen & Co. will be entering the Buffalo market when a deal to acquire Szymkowiak & Associates CPAs and its sister firm PEAR Consultants closes next month. All professionals of Szymkowiak and PEAR Consulting, which share an office in Buffalo, will join Cohen & Co. after the deal becomes final. This includes the firms’ five partners and approximately 30 team members.

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Philly’s Up and Coming Tech Entrepreneurs

Withum

In this episode of Founded in Tech, David Hansell sits down with Jake Coppen and Jacob Beaudin, to discuss the inception of NOW, the startup scene in Philadelphia, and their future plans.

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More Trending

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QuickBooks Connect Underway in Las Vegas

Insightful Accountant

The "show goes on," as the great 'Ring Master' said. QuickBooks Connect, is underway at the Aria Hotel & Convention facility, having narrowly averted a strike when MGM, Caesars and Winn Resorts all settled with the Food/Beverage/Hospitality workers.

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Art of Accounting: Managing strategic growth

Accounting Today

Strategic growth requires a plan, execution and something new to present to potential clients.

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What Investors Really Want From a Technology Company

Cherry Bekaert

How often are technology companies truly prepared when ready for an exit or to take on new funding? Cherry Bekaert’s Dixie McCurley sits down with investor and CEO Lauren Fernandez to get her take on the components that lead to business growth, success and eventual sale. Lauren shares the number one priority she has for assessing a company’s financial health, as well as thoughts on the future of AI and technology.

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Construction for accountants

Accounting Today

Kit Dickinson of ADP shares the latest issues in the construction industry, and what they need from their CPAs.

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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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The Key To Reporting on Multi-Year Grant For Your Nonprofit

GrowthForceBlog

7 min read Multi-year grants with unrestricted funds are incredibly valuable to nonprofits because they provide money upfront which allows for the confident hiring of staff and executing of program objectives.

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How higher 401(k) and IRA limits may change financial plans next year

Accounting Today

Planners and their clients can use the annual cost-of-living adjustments as a helpful reminder to consider tweaks to retirement savings and strategies, experts said.

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EY Gets $3 Million Penalty by Texas Board of Public Accountancy

CPA Practice

The Texas State Board of Public Accountancy approved an Agreed Consent Order assessing a reprimand and a $3,000,000 administrative penalty against Ernst & Young LLP (EY) on November 9, 2023. The penalty was the largest administrative penalty that the Texas Board has ever assessed against a CPA firm. EY was the subject of a Securities and Exchange Commission order that included a number of professionals licensed as Texas CPAs who were found to have cheated on ethics exams and on a variety of

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Federal Cannabis Rescheduling: How to Prepare Financially for an Uncertain Timeline

Anders CPA

The cannabis industry is accustomed to shockwaves, between voter referenda, congressional bills and state-wide policy shifts. But of all the cannabis news to break over the past few years, nothing has the power to change the landscape like the potential for the Drug Enforcement Agency (DEA) to reschedule cannabis from Schedule 1 to Schedule 3. Although the industry’s ultimate goal is for complete descheduling, the proposed shift would be a game-changer for cannabis operators because it would nul

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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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Jackson Hewitt launches hiring push

Accounting Today

The tax preparation chain expects to hire 18,000 people.

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The ABCs of AI in accounting

Accounting Insight

The potential of AI is only continuing to grow. It is rapidly making its way into a range of industries, transforming the way we work and helping us take on more of what we do best. This is particularly true of accountancy professionals, who have been freed up to work smarter and get more done with their newfound time, instead of spending hours completing manual tasks.

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How to revitalize a CPA firm while the business model stagnates

Accounting Today

Have you ever looked at the websites of the top five CPA firms in your market and observed what similar services they provide?

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Video Game Fever: Can Hollywood Grow Esports?

Withum

Hollywood has a gaming fascination. From award-winning shows like Cyberpunk: Edgerunners (2022), Arcane (2021), and The Last of Us (2023) to movies like The Super Mario Brothers Movie (2023), and Sonic the Hedgehog (2020, sequel in 2022) and the upcoming Legend of Zelda movie studios can’t get enough of video games. This is part of a larger trend toward multimedia storytelling, often called cross-media, which aims to tell related narratives across varied mediums.

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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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Financial execs need to staff up for SEC climate disclosures

Accounting Today

Companies are finding it difficult to hire enough qualified people in the relatively new field of sustainability reporting.

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Exempt vs Non Exempt Employee: What’s the Difference?  

inDinero Accounting

In August 2023, the Department of Labor proposed changing pay thresholds governing exempt vs. non exempt employees from protections under the Fair Labor Standards Act (FLSA). Should the change proceed, 3.4 million additional employees could be entitled to overtime pay. This change is not something for startups and small businesses to take lightly. Misclassifying employees as exempt can be an expensive headache for business owners.

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AICPA Tax Executive Committee Approves Revised Tax Standards

CPA Practice

In August 2022, the American Institute of CPAs (AICPA) released proposed revisions to the Statements on Standards for Tax Services (SSTSs) for public comment. The AICPA’s Tax Executive Committee (TEC) reviewed and adopted the updates to the SSTSs on May 18, 2023; the updated standards will be effective on January 1, 2024. The AICPA SSTSs serve as the ethical framework for tax professionals and are enforceable tax standards for AICPA members.

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Unlock the Full Potential of Caseware Working Papers: Supercharge Your Workflow with Cloud Hybrid, PBC and Accomplish

LSLCPAs

In a previous blog post, we explored the exciting world of Caseware’s Cloud Hybrid and its potential to revolutionize your workflow. Today, we’re taking it up a notch by introducing you to the world of Cloud integrations that will supercharge your Cloud Hybrid experience. Say Goodbye to Data Collection Hassles Ask any auditor, and they’ll.

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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.

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Corporate Boards Grow in Diversity

CPA Practice

Corporate boards have become significantly more diverse over the past five years, according to a new report from The Conference Board and ESGAUGE. The share of female directors in the S&P 500 increased from 23% in 2018 to 32% in 2023, while the reported share of racially/ethnically diverse directors grew from 20% in 2018 to 25% in 2023. As the report points out, however, the reported growth in both racial and gender diversity has slowed in the past year.

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What accountants and payroll teams need to know about a potential Labour Government

Accounting Insight

We don’t have an election date yet, but it is overwhelmingly likely that there will be one next year. And the polls and recent by-elections results suggest the most probable outcome is a Labour Government. Nothing in politics is ever a sure bet, but it does make sense for accountants to start getting an idea about what changes Labour is keen to make should it win the election.

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Feds Charge Bitwise Founders with $100 Million Fraud Scheme

CPA Practice

By Jaimie Ding. Los Angeles Times (TNS) Federal authorities have charged the co-founders of Fresno startup Bitwise Industries with fraud months after the company laid off all of its employees and shut down without explanation. Irma Olguin Jr. and Jake Soberal surrendered to authorities Thursday after being charged in a federal complaint with conspiring to commit wire fraud and taking more than $100 million, U.S.

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Exempt vs Non Exempt Employee: What’s the Difference?  

inDinero Accounting

In August 2023, the Department of Labor proposed changing pay thresholds governing exempt vs. non exempt employees from protections under the Fair Labor Standards Act (FLSA). Should the change proceed, 3.4 million additional employees could be entitled to overtime pay. This change is not something for startups and small businesses to take lightly. Misclassifying employees as exempt can be an expensive headache for business owners.

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Solve Your Firm's Automation Complexities Once and For All

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.

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We’re introducing eInvoicing to Xero in the UK

Xero

Many governments around the world are introducing eInvoicing as a way to drive digitisation of the small business economy, with some regions even mandating its use. While it’s still early days in the UK, we expect that eInvoicing will eventually become a global best practice standard and a natural part of the cloud accounting process. Today, we’re excited to share that we are the first major small business accounting software company to launch eInvoicing in the UK.

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Case Study: Revamping Cybersecurity – U.S. Regional Bank Enhances Cyber Defense Strategy

Withum

Download a PDF of this case study. Contact Us Executive Summary A mid-western regional bank recognized that its cybersecurity initiatives were inconsistent with industry standards and sought third-party expertise to improve its cyber defense strategy. Withum’s Cyber and Information Security Services Team partnered with the bank to revamp its cybersecurity program.

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Jason Drake to Take Over as Managing Partner of Plante Moran

CPA Practice

Southfield, MI-based Plante Moran will have a new managing partner come July 1, 2024, as Jason Drake will succeed Jim Proppe, who has held the position for the last seven years at the top 15 accounting firm. Drake will be the eighth managing partner in the firm’s 100-year history. Jim Proppe (left) and Jason Drake “I’m honored that the firm has entrusted me with this important role,” said Drake, who currently is group managing partner of the firm’s Chicagoland, Ohio, and international offices.

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Leaders view Biden EO on AI positive first step but more work remains

Accounting Today

Accounting technology leaders generally approve of Biden's executive order on artificial intelligence, provided the government can actually implement it.

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It Takes Two to Tango

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.