CPA Practice

APRIL 3, 2023

By Cameron White. Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. Deloitte ranks the talent shortage among the top challenges that are expected to influence or disrupt businesses this year. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.

accounting firms 135

accounting firms CPA Technology Account 135

AccountingDepartment

APRIL 4, 2023

Cash flow is the lifeblood of any business, and managing it properly is crucial for success. While many businesses focus on generating revenue, it's equally important to maintain positive cash flow to ensure that operations can continue smoothly. In this article, we'll discuss some cash flow best practices that businesses should consider implementing to be more successful.

accountant 80

accountant accounted Account 80

Menzies

APRIL 5, 2023

Menzies LLP - A leading chartered accountancy firm. As we settle into the first quarter of 2023 businesses are feeling the pressure, and some owner managers may have to face a cashflow crisis. Due to the significant increase in the cost of living, in addition to the higher interest rates and inflation many consumers have had to tighten their purse strings, which is resulting in a negative knock-on effect on businesses.

chartered accountant 52

chartered accountant Maine accounting firms accountant 52

Insightful Accountant

APRIL 2, 2023

Tipalti's Paul Henderson examines some of the initiatives today's CFOs should prioritize this tax season.

Tax 101

Tax 101

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

Mark Lee

APRIL 4, 2023

One of the accountants I mentor has long been proud of how efficiently they look after their own business affairs. Others though are embarrassed at their inefficiencies. And there are some who do not appear to give any thought as to how they are perceived. Some of the accountants in this category may, unintentionally, be undermining their credibility.

Account 40

Account accounted accountant tax return 40

IgniteSpot

APRIL 4, 2023

What is the difference between a CFO and a controller? CFO, controller. potato, po-tah-to.

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GrowthForceBlog

APRIL 5, 2023

7 min read Automation is one of the biggest disruptors in any industry, and it would seem that artificial intelligence (AI) sy stems like ChatGPT are setting out to automate everything from painting portraits, writing poems, and composing hit songs to writing computer programs, giving financial management advice, and filing your taxes.

Account 75

Account accounted accountant Tax 75

Shay CPA

APRIL 5, 2023

‘Tis the season. As the days get longer and the weather gets warmer, it’s time to undertake the annual chore of spring cleaning. This doesn’t just apply to your abode. Employing a spring cleaning mentality at your startup — especially when it comes to your books — can do a lot to help you thrive in the rest of 2023 and beyond. In fact, giving your bookkeeping a spring clean could be the key that unlocks success in your next rounds of fundraising.

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bookkeeping accounting principles accounting standards bookkeeping services 59

Insightful Accountant

APRIL 3, 2023

FloQast's Mike Whitmire takes a deep dive into why automation just may be your secret weapon come the vaunted tax season.

Tax 98

Tax 98

RogerRossmeisl

APRIL 2, 2023

As appearing in IRS Newswire IR-2023-64 The Internal Revenue Service just issued a proposed regulation related to certain requirements that must be met for critical minerals and battery components for the new clean vehicle credit. The Inflation Reduction Act (IRA) allows a maximum credit of $7,500 per vehicle, consisting of $3,750 in the case of a vehicle that meets certain requirements relating to critical minerals and $3,750 in the case of a vehicle that meets certain requirements relating to

CPA 190

CPA Tax 190

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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

BurklandAssociates

APRIL 4, 2023

Accrual accounting generates a more accurate long-term financial picture, is required for GAAP, and is what prospective investors and lenders expect to see. The post Cash vs. Accrual Accounting for Startups: Which is Best? appeared first on Burkland.

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accrual accounting Account accounted accountant 147

CPA Practice

APRIL 7, 2023

By Cameron White. Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. Deloitte ranks the talent shortage among the top challenges that are expected to influence or disrupt businesses this year. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.

accounting firms 139

accounting firms CPA Technology Account 139

TaxConnex

APRIL 6, 2023

The 2018 Supreme Court Wayfair decision gave us a bright line standard for determining sales tax nexus: Generate a set amount of revenue in a state in a set amount of time and your company has to collect and remit the applicable sales tax. Seems clear. However, companies still must deal with the ambiguous physical presence standards as well as the varying taxability rules from state to state.

Technology 130

Technology Sales Tax tax return 130

RogerRossmeisl

APRIL 4, 2023

Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut their taxes. However, in order to be deductible, advertising and marketing expenses must be “ordinary and necessary.” As one taxpayer recently learned in U.S. Tax Court, not all expenses are eligible.

CPA 130

CPA Tax business tax 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

Airbase

APRIL 4, 2023

TL;DR: In the wake of a banking crisis, cyberattacks are on the rise, especially relating to change of accounts. Vigilance and careful practices are the first and most important lines of defense. The transaction software you use for payables is key to identifying and thwarting attacks. Airbase provides additional levels of security that can be especially helpful in this environment.

Approval Workflows 130

Approval Workflows accounting and finance accounts payable payroll 130

CPA Practice

APRIL 5, 2023

By Andrew Antos, Co-founder and CEO of Klarity. If you’ve been following recent news in even the most cursory fashion there’s a good chance you’ve heard about ChatGPT, the Large Language Model (LLM) technology that’s primed to revolutionize business operations. It’s an innovation that holds such disruptive promise that it has already begun to impact long-standing industries and left more than a few big incumbents spinning.

accounting firms 135

accounting firms Account accounted accountant 135

TaxConnex

APRIL 4, 2023

You just got notice of a sales tax audit. What now? Ideally, you’ve done your homework and put in place processes to comply in those jurisdictions where you have nexus for sales tax purposes. And not ideally? Wherever you are in your sales tax compliance, these steps will help your audit process run smoother. Don’t take it personally Our third annual survey of financial professionals showed that although most companies (67%) reported that state sales tax audits have remained at the same level ov

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audit Sales auditor Tax 130

MyIRSRelief

APRIL 3, 2023

Small business owners often find themselves juggling multiple responsibilities, from managing employees to overseeing operations to marketing and sales. Amidst all these demands, managing finances can easily become overwhelming, especially for those who lack a strong financial background. That’s where an accountant (EA or CPA) can help. A Los Angeles, CA accountant can provide essential financial expertise and support to small business owners, helping them make informed decisions and manag

Account 130

Account accounted accountant accounting and finance 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

Xero

APRIL 4, 2023

If you ever worked with Office 97, you’ll remember Microsoft’s iconic assistant Clippy. The animated AI-based paperclip would pop up in your document and offer to help you format whatever you were working on. Clippy would analyse and structure words in your document and help you format it according to what you were working on. For example, if anything vaguely resembled a resume, you would be prompted with: “It looks like you’re writing a resume!

Technology 116

Technology Gaming Start-ups 116

CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest. “Taxpayers should choose their return preparer wisely and remain vigilant against unscrupulous preparers, who often present clients with refunds that are too good to be true,” said Deputy Assista

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tax preparation Tax tax return income tax 132

Going Concern

APRIL 4, 2023

Last August, Australian Financial Review reported that eleven people had been “exited” (tossed, kicked out, told to F off, however you prefer to phrase it) from KPMG Australia for misconduct including bullying, sexual harassment and policy breaches in the past year; during the same period, internal misconduct complaints doubled to 88. This may have been due in part to the firm purposely Before that, AFR dug deeper into misconduct complaints at the firm from 2014 and 2019 and reveal

New York 115

New York Legal accounted Account 115

Withum

APRIL 4, 2023

Explore Other Episodes #CivicWarriors #WithumImpact The post Volunteering and Campaigning for a Great Cause With The Leukemia & Lymphoma Society appeared first on Withum.

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111

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

Xero

APRIL 2, 2023

Reports: We’ve introduced a new Journal report that has the features you love from the older version, with additional functionality including convenience dates, customised columns, filters and more. Reports: A new version of the General Ledger Summary report is now available. You can drill down into the General Ledger Detail report , choose which accounts to show, customise columns and more.

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general ledger tax return payroll accounting apps 110

CPA Practice

APRIL 3, 2023

By Richard Tribou, Orlando Sentinel (via TNS). Humans haven’t traveled beyond low-Earth orbit in more than 50 years, but that’s set to change with the launch of the Artemis II mission to orbit the moon next year with four passengers on board. Just who will be flying was revealed today. NASA and the Canadian Space Agency named the four astronauts that will climb aboard the Orion spacecraft to be launched atop the Space Launch System rocket from Kennedy Space Center as early as November 2024.

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Utah Michigan California 122

Going Concern

APRIL 7, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. AI Cranium launches out of KPMG’s venture studio to tackle AI security [ TechCrunch ] Several years ago, Jonathan Dambrot, a partner at KPMG, was helping customers deploy and develop AI systems when he started to notice

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auditor chartered accountant audit accounting and finance 105

Insightful Accountant

APRIL 3, 2023

The Dancing Accountant, Nancy McClelland, gives you the lowdown on the IRS account transcript, a tool you can download for free to check your finances. Jump over to our sister site, Tax Practice News, to learn more.

Tax 105

Tax Finance Account accountant 105

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

Basis 365

APRIL 3, 2023

As an e-commerce business owner, it's essential to understand your financials and where your money is going. One of the most significant expenses for any Shopify store is the fees charged by the platform. However, many Shopify store owners need to fully understand these fees and how they can affect their financial statements. In this blog post, we'll discuss how to break out Shopify fees for accurate financials and the benefits of outsourced e-commerce accounting.

E-commerce 102

E-commerce financial statements Sales accounting system 102

CPA Practice

APRIL 6, 2023

The Internal Revenue Service has unveiled its Strategic Operating Plan , an effort the agency says will to transform the IRS and dramatically improve service to taxpayers and the nation during the next decade. The 150-page report to the Secretary of the Treasury outlines the agency’s historic plans to make fundamental changes following funding from last year’s Inflation Reduction Act.

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audit Tax Education tax accountant 113

Going Concern

APRIL 6, 2023

A few weeks back we wrote up EY Australia’s Space Hub and its impressive new ex-NASA hire. This week, we’ve learned that Deloitte has its own big plans for space. In an April 4 press release , Deloitte announced a formal space practice “to connect organizations in rapidly growing global space ecosystem.” That’s obviously a direct quote from the release.

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Nevada Government 105

Insightful Accountant

APRIL 6, 2023

Shopify now is Intuit's Preferred Solution for a POS solution that integrates with QuickBooks Desktop. Learn more about the solution and the special bonus bundle available to migrating QB-POS customers.

quickbooks 105

quickbooks 105

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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.