Acterys

FEBRUARY 22, 2023

To deal with economic and market turbulence, businesses must create well-rounded financial plans and monitor business performance against targets regularly. Luckily, the board of directors and C-level executives can rely on the expertise of FP&A professionals. FP&A teams play a key role in ensuring the financial stability of a business. They monitor past data, understand the present financial position, and prepare for the future accordingly.

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financial statements accounting and finance Sales Finance 130

Accounting Insight

FEBRUARY 20, 2023

If you’ve followed financial news over the past several months, chances are you’ve seen at least one headline about the ongoing accountant shortage. Maybe you’ve even experienced the pains of struggling to hire candidates at your firm. Several factors contribute to the shortage, like mid-career CPAs changing professions, or early retirements spurred by the pandemic.

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cpa firm CPA accounting careers Technology 52

Snyder

FEBRUARY 22, 2023

Moving away from a paper-based office has been welcomed by accountants worldwide. Working online has allowed accountants to take on more clients, save hours of time every day, automate many of the repetitive tasks, and enjoy unprecedented freedom that comes with having a digital office. However, there’s a price to pay – it all comes down to accounting cybersecurity, or, in broader terms, making sure that your clients’ data is well-protected from cyber-threats, such as personal data theft, ident

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RogerRossmeisl

FEBRUARY 20, 2023

Two techniques fall under the income approach umbrella when valuing a private business interest: the discounted cash flow (DCF) method and the capitalization of earnings method. How do these two commonly used methods compare — and which one is appropriate for a specific investment? Fundamentals of discounting The DCF method estimates the present value of future expected net cash flows using a discount rate.

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CPA cpa firm 207

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

Finance

BurklandAssociates

FEBRUARY 21, 2023

A client asked me recently what they should do about an underperforming employee. This employee was entry-level, had been with the company for less than 90 days, and wasn’t performing Read More The post Why Hiring Slow and Firing Fast Still Works appeared first on Burkland.

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inDinero Tax Tips

FEBRUARY 22, 2023

For an executive or business owner, keeping up to date with accounting regulations is low on the to-do list. However, you should make an exception for “Accounting Standards Codification Topic 606: Revenue from Contracts with Customer” often referred to as ‘ASC 606’ or ‘FASB ASC 606’ What Is ASC 606? Developed by the International Accounting Standards Board (IASB), ASC 606 establishes new rules for recognizing revenue in contracts with customers.

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Accounting for Good

FEBRUARY 22, 2023

The post When not-for-profit accounting meets NFP law first appeared on ACCOUNTING FOR GOOD.

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Account accounted accountant 52

RogerRossmeisl

FEBRUARY 20, 2023

An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be important to you and your business. Social Security tax The amount of employees’ earnings that are subject to Social Security tax is capped for 2023 at $160,200 (up from $147,000 for 2022).

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Tax CPA business tax 183

Going Concern

FEBRUARY 22, 2023

Listen to Oh My Fraud , a podcast by Caleb Newquist and Greg Kyte, and get free CPE through Earmark. The post Exposure Drafts: It’s Busy Season, But Don’t Be Too Busy For Money appeared first on Going Concern.

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Airbase

FEBRUARY 23, 2023

“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” — Lao Tzu Predictions about the state of the economy are notoriously difficult. In fact, one study by the International Monetary Fund concluded that economists are uniformly unsuccessful at predicting recessions. In the words of Prakash Loungani, one of the study’s authors, “the failure of economists to forecast recessions is virtually unblemished.

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Technology

CPA Practice

FEBRUARY 21, 2023

Nearly 30 of the most influential consultants, practitioners and accounting technology visionaries convened in New York City Feb. 20-22, 2023, for CPA Practice Advisor ‘s 13th annual Accounting Thought Leader Symposium. CPA Practice Advisor editor-in-chief Gail Perry, CPA, leads discussion with attendees at the 2023 Accounting Thought Leader Symposium.

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RogerRossmeisl

FEBRUARY 20, 2023

According to various sources, around 10% of all insurance claims involve fraud. Insurance companies generally pass along the cost of these fraud losses to policyholders in the form of higher premiums. Unfortunately, small businesses, which are generally less able to pay premium hikes, are particularly vulnerable to insurance fraud. To protect your company from losses and minimize the likelihood of increased premiums, learn how to identify insurance fraud.

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TaxConnex

FEBRUARY 23, 2023

All hail sales tax! Taxing certain goods dates back as far as 4,000 years. Ancient Egypt taxed cooking oil, for instance. The tax was levied on a product people had to buy and were forbidden to reuse (coincidentally, the Pharaoh had a monopoly on production). Imperial Rome’s Julius Caesar is considered to have implemented a proper sales tax, a 1% flat rate across his entire Empire.

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Airbase

FEBRUARY 23, 2023

Procure-to-pay (P2P) software originated from the need to oversee the process of acquiring supplies for manufacturing and other industries, and to manage inventory in the retail sector. Procurement has faced numerous challenges in recent years: transportation issues, inflation, labor shortfalls along the supply chain. But organizations can overcome those difficulties and position themselves to grow and thrive — with the help of the right technology.

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Approval Workflows Technology general ledger AP Processes 130

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

payroll

CPA Practice

FEBRUARY 24, 2023

By Erin Bendig, Kiplinger Consumer News Service (TNS) Maybe you had a child change their mind and not go to college or you saved more than necessary, and now you’re wondering what to do with the cash locked away in your 529 plan. Thanks to the SECURE 2.0 Act, you’ll soon be able to roll over funds from your 529 plan into a Roth IRA, as long as certain conditions are met.

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Tax Education income tax Washington 132

RogerRossmeisl

FEBRUARY 20, 2023

Many people are more concerned about their 2022 tax bills right now than they are about their 2023 tax situations. That’s understandable because your 2022 individual tax return is due to be filed in 10 weeks (unless you file an extension). However, it’s a good time to familiarize yourself with tax amounts that may have changed for 2023. Due to inflation, many amounts have been raised more than in past years.

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Tax tax return CPA 196

BurklandAssociates

FEBRUARY 21, 2023

New pay transparency compliance laws make this responsibility all the more daunting, with real fines as a repercussion. The post Teaming Finance and People Ops to Manage Pay Transparency appeared first on Burkland.

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Finance 130

TaxConnex

FEBRUARY 21, 2023

We are excited to share in that we closed out 2022 breaking our annual new business revenue goal! We saw a 40% increase in new sales as compared to the prior year and are set for a great 2023. “Many businesses continue to try and manage sales tax in-house, but this past year showed that the economic un-certainty along with a lot of turnover and layoffs has left compliance in the hands of those that don’t have the bandwidth or expertise,” explained Brian Greer, CRO of TaxConnex.

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Sales Tax Technology 130

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Finance

CPA Practice

FEBRUARY 23, 2023

What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90% point to hiring and retaining skilled accountants and auditors. Some are even turning away business due to a shortage of staff. That’s the finding of two newly released reports by leading software provider Caseware International , which surveyed more than 6,000 accountants and auditors globally.

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audit auditor Account accounted 132

RogerRossmeisl

FEBRUARY 20, 2023

Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of M&A transactions in North America in 2022 was down 41.4% from 2021, according to S&P Global Market Intelligence. But some analysts expect 2023 to see increased M&A activity in certain industries. If you’re considering buying or selling a business, it’s important to understand the tax implications.

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Tax CPA business tax 194

BurklandAssociates

FEBRUARY 21, 2023

“Could your team benefit from some soft skills training?” Read why your answer should always be yes! The post The Importance of “Soft Skills” for Organizations appeared first on Burkland.

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Withum

FEBRUARY 21, 2023

The salary cap in the NFL is up to $208 million per team for 2022 and continues to rise each year by about $20 million. This salary cap sets a maximum budget that each team can pay their entire player roster. Even with this rise, the wage gap between the minimum salary and the highest individual salary for NFL players has continued to widen. The current minimum salary for a first-year player is $705,000 meanwhile, the highest average salary is over $50 million (Aaron Rodgers, Quarterback, Green

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Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

CPA

CPA Practice

FEBRUARY 24, 2023

Technology has made significant contributions to the practice of accounting and is on the verge of another evolution with the advent of artificial intelligence tools coming into the mainstream. In the past four months there has been a frenzy around Open Ai’s ChatGPT, which is a natural language application where you can type in questions and get comprehensive answers in a format that is almost impossible to distinguish from that which you would expect from another educated human.

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Technology Account accounted accountant 131

RogerRossmeisl

FEBRUARY 20, 2023

If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC). The rules and credit amounts have changed significantly over the last six years. This tax break became more generous in 2018 than it was under prior law — and it became even better in 2021 for eligible parents. Even though the enhancements that were available for 2021 have expired, the CTC is still valuable for parents.

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Tax CPA 193

BurklandAssociates

FEBRUARY 21, 2023

If you are a new manager, or if you plan on promoting an individual contributor to a management role, here are some core areas to offer training. The post The ROI of Investing in New People Leaders appeared first on Burkland.

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Xero

FEBRUARY 19, 2023

The moment is here; the final step of Xero’s Single Touch Payroll Phase 2 roll out is now available to all customers. Once your payroll data is updated and you’ve marked each step as complete in the STP2 Portal, you’ll be able to enrol in Phase 2 reporting – step four of the transition. This will see your business share more information with the ATO and other government agencies whenever you process a pay run.

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payroll Government bookkeeping 111

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Spend Management

CPA Practice

FEBRUARY 24, 2023

By Kristin F. Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. As of Feb. 3, the IRS said it has processed more than 16.7 million tax returns—29% more than in 2022, nearly four million more.

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tax return Tax income tax 130

RogerRossmeisl

FEBRUARY 20, 2023

Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take an early withdrawal. What’s considered early? In general, it’s when participants take money out of a traditional IRA or other qualified retirement plan before age 59½. Such distributions are generally taxable and may be subject to a 10% penalty tax.

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income tax CPA Tax 189

BurklandAssociates

FEBRUARY 21, 2023

Despite a growing number of large company job cuts, the layoff rate as a whole in the US is at about 1%. There is also about 1.8 jobs for every Read More The post Maximizing Benefits with PEOs: A Solution for Small Employers’ Labor Challenges appeared first on Burkland.

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Going Concern

FEBRUARY 21, 2023

I don’t know how I didn’t see this a week ago when it was posted but…enjoy. via r/accounting It’s the Comic Sans for me. The post Some Crazy SOB Got Debit and Credit Tattoos appeared first on Going Concern.

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Account accountant accounted 108

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