GrowthForceBlog

MAY 1, 2023

8 min read Chief financial officers are sometimes thought of as behind-the-scenes, numbers people who can close themselves in an office with a stack of financial data and emerge with their jobs successfully completed. This picture, however, is dreadfully outdated, and the role of a modern CFO has been transformed. While CFOs are still financial experts, they must also be strategic visionaries who are directly involved in all aspects of business operations.

78

78

Dent Moses

MAY 4, 2023

Our firm works with hundreds of businesses of all shapes and sizes. Though there are many different business structures and industries, there are many commonalities. Our business clients are usually focused on sales, cash flow, and growth. Accounting needs are often considered a necessary evil rather than a priority. Oftentimes, one of the owners or a family member is tasked with handling the dreaded accounting responsibilities.

Account 52

Account accounted accountant tax return 52

MineralTree

MAY 4, 2023

How to Respond to Vendor Inquiries with AP Automation & Payment Services Not having enough time is the bane of every AP team. Too many are still burdened by the labor- and time-intensive tasks of manual invoice and payment processing, and are paying a heavy price for it. This creates a never-ending cycle of inputting and coding data, tracking down people for approvals and authorizations, and preparing checks – not to mention stuffing, sealing, and mailing payments.

AP Automation 82

AP Automation AP Processes Start-ups accounting and finance 82

CPA Practice

MAY 1, 2023

As firm leaders expand their firm’s footprint, account-based marketing (ABM) should be part of their plan. It can help you identify and cater to a specific market through the sales and marketing team’s efforts. What is account-based marketing? Gitnux summarizes (ABM) like this, “Account-based marketing (ABM) is an increasingly popular form of B2B marketing that focuses on targeting individual accounts instead of large groups or an entire market.

B2B 119

B2B Sales Education accounted 119

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

IgniteSpot

MAY 3, 2023

4 Essential CFO Functions Do you really need your CFO to be involved in the sales cycle? Yes, because their job is rapidly becoming about more than reporting. Some even dip their toes into HR! CFO services make your organization more valuable to shareholders, increase your ROI, and improve internal and external relationships.

Sales 92

Sales 92

Basis 365

MAY 4, 2023

Starting and running a business can be both exciting and challenging. As a business owner, you will face numerous decisions that can impact your venture's financial health and success. One key area that requires careful consideration is accounting. Proper accounting is crucial for managing your business finances effectively and making informed decisions.

business accounting 52

business accounting accrual accounting Account accounted 52

Airbase

MAY 2, 2023

If you’re like most finance professionals right now, you’re keeping a close eye on spending. But at the same time, you’re aware of research that shows companies that invest in technology to improve efficiency and productivity are more likely to survive economic downturns. You’re also busy adjusting budgets and forecasts in response to ever-changing market conditions.

Spend Management Platform 130

Spend Management Platform Spend Management accounting and finance Finance 130

Accounting Insight

MAY 3, 2023

As accountants and finance professionals, we need to play a critical role in the creation of sustainability strategies for the businesses we work in and currently the timing for ensuring we are up to speed with the latest thinking in sustainability is crucial. We need to be in a position to respond coherently to the upcoming IFRS Sustainability Disclosure standards, the first of which will be released at the end of June: IFRS S1 General Sustainability-related Disclosures and IFRS S2 Climate-rela

accounting and finance 69

accounting and finance accounting standards Education Finance 69

GrowthForceBlog

MAY 3, 2023

10 min read When running a business, the goal is to make money by providing valuable services or products to your customers. Before your business can thrive and make money, though, a business owner has to figure out how to help their business survive, and mere survival might be a bigger challenge than you realize. More than 20% of new businesses fail within the first year, and 90% of all businesses eventually fail.

87

87

RogerRossmeisl

MAY 5, 2023

The starting point for a business valuation is generally the subject company’s financial statements. Here’s an overview of how historical financial statements can serve as the basis for a valuation professional’s conclusion under the cost, income and market approaches. Cost (or asset-based) approach Because the balance sheet identifies a company’s assets and liabilities, it can be a reliable source of financial information, especially for companies that rely heavily on tangible assets (such as m

financial statements 182

financial statements Real Estate accounting principles Manufacturing 182

Advertisement

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Technology

CPA Practice

MAY 1, 2023

By Brit Morse, Inc. (TNS) If your small business doesn’t offer a retirement account to your employees, now may be a good time to change that. More small businesses across the country are taking advantage of new tax credits to offer 401(k) programs , according to a report from the Wall Street Journal. The new tax credits are widely available now thanks to the Setting Every Community Up for Retirement Enhancement (Secure) Act , which went into effect on Dec. 29, 2022.

Oregon 134

Oregon Nebraska Colorado Illinois 134

TaxConnex

MAY 4, 2023

When your customers shop with you online, they provide a physical billing or shipping address. Whether they know it or not, they also give you another bit of location information: an Internet Protocol (IP) address. Many tech companies consider themselves service providers, exempt from sales and use tax. But in light of the 2018 Wayfair decision and an expanded definition of nexus, more of these businesses are now subject to sales and use tax collection on these services, including but not limite

Sales 130

Sales Tax Maryland Technology 130

BurklandAssociates

MAY 3, 2023

For mid- to late-stage SaaS startups with IPO plans, there can be material benefits to closing outside of December. The post Should I Move My SaaS Startup’s Fiscal Year-End from December? appeared first on Burkland.

accountant 130

accountant accounted Account 130

RogerRossmeisl

MAY 5, 2023

Fraud perpetrated by employees, management, vendors or customers can happen to any business. And if it does, it can take years to recover from the financial losses and reputational damage. In some cases — especially those involving small companies that lack the cash reserves to cushion the blow — a fraud incident can shut down a business. If your business suspects fraud, engaging a forensic accountant to investigate, zero in on a perpetrator and gather evidence that can be used in court, is gene

forensic accounting 167

forensic accounting Account accounted accountant 167

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

MAY 4, 2023

Matthew Rissell, a serial entrepreneur known widely for founding the small business time tracking app TSheets, was found dead at his home in Eagle, Idaho, early Thursday morning. Ada County coroner Richard D. Riffle’s report noted that Rissell died from a bullet wound to the head, and was likely suicide. Rissell was 46. After reports of gunshots, county sheriff’s deputies responded to a residence in the Wedgwood subdivision of Eagle in the pre-dawn hours on Thursday.

Idaho 26

Idaho Hospitality Transportation 26

TaxConnex

MAY 2, 2023

Alaska Gov. Mike Dunleavy is reportedly preparing to introduce a sales tax as part of a long-term budget plan for the state. Five states don’t have a statewide sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware (aka the “NOMAD” states). Vermont was the last state to adopt a sales tax, in 1969. Alaska is furthest along of the five in instituting a statewide sale tax.

Alaska 130

Alaska Sales Tax New Hampshire 130

MyIRSRelief

MAY 1, 2023

If you’re facing an IRS audit or dispute in Los Angeles, you need a fierce tax representative who can protect your rights and defend your interests. One such representative is Mike Habib, EA, a tax professional based in Los Angeles who has a track record of success in helping clients achieve the best possible outcome in their tax matters. Mike Habib is an enrolled agent with over 20 years of experience in tax representation.

Tax 26

Tax audit tax preparation Education 26

RogerRossmeisl

MAY 5, 2023

If your business occupies substantial space and needs to increase or move from that space in the future, you should keep the rehabilitation tax credit in mind. This is especially true if you favor historic buildings. The credit is equal to 20% of the qualified rehabilitation expenditures (QREs) for a qualified rehabilitated building that’s also a certified historic structure.

Tax 154

Tax CPA Sales business tax 154

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

MAY 1, 2023

By Brittany Leitner, Kiplinger Consumer News Service (TNS) Although men remain in the lead as breadwinners in heterosexual marriages in the United States, the earnings gap is decreasing at a record pace. According to new research from Pew, the “share of women who earn as much as or significantly more than their husband has roughly tripled over the past 50 years.

Education 129

Education Washington payroll 129

Withum

MAY 4, 2023

There has been a notable increase in companies moving their manufacturing operations back to the United States, a phenomenon known as reshoring. Private equity firms have played a crucial role in this trend, investing in businesses shifting their manufacturing base. Reshoring Process in Private Equity The reshoring process in private equity encompasses three primary phases: Assessment Planning and Strategy Development Implementation and Integration Firms initially assess the viability and advant

Manufacturing 126

Manufacturing Transportation 126

Going Concern

MAY 1, 2023

Las Vegas Review-Journal has reported that Deloitte will be one of the first tenants for the second phase of mixed-use development UnCommons in southeast Las Vegas. Developer Matter Real Estate Group announced last week that the firm will occupy 14,000 square feet on the third floor of the fourth UnCommons office building, due to be completed this summer.

Real Estate 124

Real Estate Sports accounting firms Retail 124

RogerRossmeisl

MAY 5, 2023

If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments. Therefore, if funds are paid as dividends, they’re taxed twice, once to the corporation and once to the recipient.

CPA 149

CPA Tax cpa firm business tax 149

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

MAY 2, 2023

By Michael Grothaus, Fast Company (TNS) The World Economic Forum (WEF) has released its annual Future of Jobs Report for 2023 and it makes for some interesting reading, not only for employers but for younger people who have yet to decide upon a career path. One of the most interesting parts of the report looks at the jobs market outlook for the next five years (2023-2027).

accounts jobs 125

accounts jobs accounting jobs accountant jobs Agriculture 125

Withum

MAY 2, 2023

Implementing an ERP system requires a cross-functional team of individuals with diverse skill sets, including business process experts, project managers, IT professionals, and end-users. Each team member brings unique perspectives, experiences, and expertise to the table, which helps avoid ERP implementation failure and ensures the deployment is successful.

NetSuite 118

NetSuite Technology Start-ups Government 118

Going Concern

MAY 4, 2023

The rumor mill has been worked into a lather about a reduction in force at Marcum (someone in the comments says that’s BS though we did get confirmation of some kind of private equity deal coming down the pipe), lots of performance discussions at Deloitte after promotions were unexpectedly delayed for many , and possible silent layoffs at EY by way of liberal PIP distribution.

Account 116

Account accounted accountant 116

RogerRossmeisl

MAY 5, 2023

A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is an important area and is too often overlooked when families start to put their affairs in order. Under the fair market value basis rules (also known as the “step-up and step-down” rules), an heir receives a basis in inherited property that’s equal to its date-of-death value.

CPA 145

CPA Start-ups Tax 145

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

MAY 3, 2023

By Edward E. Fernandez, Kiplinger Consumer News Service (TNS) For investors looking for a way to defer capital gains taxes when selling a real estate investment property, there are a variety of strategies to leverage depending on circumstances. Usually, a 1031 exchange comes to mind; however, an often-underutilized tool that helps investors achieve a similar result is a 721 exchange, or umbrella partnership real estate investment trust (UPREIT).

Real Estate 124

Real Estate Tax Delaware Washington 124

Insightful Accountant

MAY 2, 2023

In today's business landscape, being a thought leader is everything. Otter PR's Amanda Reseburg spins you through some of the fine points of honing your content writing craft.

109

109

ThomsonReuters

MAY 4, 2023

QUESTION: During the COVID-19 pandemic, we established a telehealth-only plan to provide benefits to individuals who were not eligible for coverage under our regular group health plan. Can we continue to offer this benefit? ANSWER: During the COVID-19 pandemic, telehealth-only benefits have been exempt from certain requirements that otherwise apply to group health plans.

Tax 105

Tax accountant accounted Account 105

RogerRossmeisl

MAY 5, 2023

Mergers and acquisitions can be stressful for entrepreneurs who have invested blood, sweat and tears in their businesses — or second-generation owners who are selling their parents’ legacies. Setting the asking price and understanding the deal terms, including complex tax matters, can be overwhelming. Fortunately, a business valuation professional has the financial knowledge and real-world experience to help maximize the selling price and minimize the guesswork.

financial statements 137

financial statements audit CPA Tax 137

Advertisement

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.