GrowthForceBlog
APRIL 13, 2023
6 min read With increasing recession fears, ongoing supply chain disruptions, soaring inflation rates, the hiring challenges of the Great Resignation, and the epidemic of quiet quitting, business leaders across industries are experiencing challenging times.
Mark Lee
APRIL 11, 2023
About 25 years ago a long-standing client told me that she had a new boyfriend who was a Russian. Could I give him some tax advice related to his business interests? He was willing pay thousands of pounds for tax advice. As a firm we didn’t have any Russian clients and I think the request took place just a few days after we had completed our in-house training on the anti-money laundering rules.
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xendoo
APRIL 13, 2023
Running a business is, without a doubt, a challenging task that requires a lot of commitment, effort, and attention to detail. Did you know 82% of small businesses fail due to cash flow management? Besides managing all aspects of the business, taking care of your books is crucial to achieving financial success while being tax ready all year round. At Xendoo, we know you didn’t start a business to do the accounting and taxes; but we did.
Menzies
APRIL 13, 2023
Menzies LLP - A leading chartered accountancy firm. More and more we are seeing businesses choose to – or be required to – include non-financial measures when they report to stakeholders or market themselves to the outside world. But why should businesses go to the trouble of considering such issues and presenting the information, and are there any benefits in doing so beyond compliance?
Speaker: Melissa Hurrington
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
Airbase
APRIL 12, 2023
Are you still getting value from the expense management or bill payment software you purchased a few years ago? Do your users actually use the software? Do they find it intuitive, pleasant to use, and efficient? Is your original business case holding up in this new era of high interest rates and a competitive labor market? If your answer is no to any or all of these questions, I have some very good news for you.
TaxConnex
APRIL 13, 2023
Our third annual survey of financial professionals across accounting, manufacturing, construction, software and technology, retail/eCommerce, telecom and others showed that many industries face sales tax challenges and that financial leaders continue to lean on internal resources to get the job done. With varying levels of comfort and success: Though showing more confidence than that in previous years’ surveys, more than half (58%) of respondents remain unsatisfied or only somewhat satisfied wit
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Menzies
APRIL 13, 2023
Menzies LLP - A leading chartered accountancy firm. Look around you. One in seven people at least are neurodiverse. Do you work in a profession? Increase that number. There is not enough space in this article to cover each of these conditions and how they might affect you but, rest assured, if you feel that you are a bit different to other people or, more likely, you believe other people are very different to you, then you might be neurodiverse.
Menzies
APRIL 12, 2023
Menzies LLP - A leading chartered accountancy firm. Hospitality and leisure businesses deliver experiences and the quality of those experiences will depend on the talent, skills and enthusiasm of their people. Ideally those employees will represent the cultural diversity of the location, business environment and clientele they are serving. But many business, not just in H&L, are grappling with the issue of diversity and inclusion in their workforce, especially now the challenge of finding an
Summit CPA
APRIL 12, 2023
The Virtual CPA Success Show: Episode 78 Are you a leader within your business or do you manage a leadership team? In today’s marketplace of in-person, remote, and hybrid business, the ability to be agile within a leadership position is more important than ever. But what does it mean to be an agile leader? In this episode, Chuck Mollor, author of The Rise of the Agile Leader: Can You Make the Shift?
RogerRossmeisl
APRIL 10, 2023
Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least you can claim a capital loss deduction on your tax return. Here are the rules that apply when a stock you own is sold at a loss or becomes completely worthless. Stock sales produce capital losses Stocks are capital assets and produce capital gains or losses when they’re sold.
Speaker: Yohan Lobo
In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.
MyIRSRelief
APRIL 14, 2023
Tax disputes can be a headache for individuals and businesses alike. If you are facing a tax dispute in Los Angeles, you need a skilled tax representative in your corner who can help you navigate the complex world of tax law and achieve a favorable outcome. One such representative is Mike Habib, EA, who has over 20 years of experience helping clients resolve their tax disputes with the IRS and state tax agencies and various state tax agencies such as FTB, EDD and CDTFA.
Xero
APRIL 13, 2023
Our team hit the ground running in 2023, introducing a number of exciting features to new reports that we know you’ve been waiting for — including the addition of foreign currency to new reports. Here are some of the highlights and a sneak peek into what’s coming next. Don’t forget, the older versions of our reports will be retired on 31 July 2023. We urge you to start using new reports now , so you have plenty of time to get used to them before the older versions are retired.
CPA Practice
APRIL 12, 2023
By Blake Oliver, CPA, and Chris Vanover, CPA. CPAs have always been passionate about numbers, using various metrics such as revenue, profit, headcount and realization to measure success. However, this focus on numerical indicators is contributing to the decline of the CPA profession itself. A talent shortage is affecting accounting firms across the demographic spectrum.
RogerRossmeisl
APRIL 10, 2023
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. You can save family income and payroll taxes by putting your child on the payroll. It’s a win-win! Here are four tax advantages. 1. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for services performed.
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Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.
BurklandAssociates
APRIL 14, 2023
Select the best banking partners for your needs and make a smooth transition with these two checklists. The post Choosing the Best Banking Partners for Your Startup appeared first on Burkland.
Acterys
APRIL 11, 2023
Persistent inflation and slowing economic growth have led to a code-red situation for businesses globally. Market dynamics are in a constant state of flux; from a sudden shortage of raw materials to the risk of violating regulatory standards, just to name a few. As a CFO, you need to rely on complex financial models and contingency scenarios to make decisions that better mitigate risk and ensure optimal business performance.
CPA Practice
APRIL 11, 2023
Suppose your small business will be short-staffed this summer. You may decide to hire someone from the outside who may or may not work out. Alternatively, however, you might look instead at the person already familiar with your operation sitting right across from you at the kitchen table. In other words, you can hire your spouse. Frequently, the spouse of a small business owner pitches in when needed, but without any pay.
RogerRossmeisl
APRIL 10, 2023
Fair market value is the appropriate standard of value in most business valuation assignments. But when valuing an asset for financial reporting purposes, fair value is generally used. Here’s an overview of what fair value is and how it differs from fair market value. Eyes on GAAP The terms “fair value” and “fair market value” are sometimes used interchangeably.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
TaxConnex
APRIL 11, 2023
If you are a business that must collect and remit sales tax, an audit is probably one of your biggest fears. In fact, our annual survey of financial professionals on sales tax trends has ranked sales tax audits as a top worry for the third year in a row. Yet, when asked if they’ve seen audits increased, they’ve continually said the amount of audits they’ve seen has remained the same (66%).
Withum
APRIL 11, 2023
Having discussed fraud schemes , trends , and fraudster characteristics identified in the ACFE’s Occupational Fraud 2022: Report to the Nations , let’s shift our focus to the industries with the highest fraud risk and how all organizations can safeguard themselves from fraud or investigate actual or suspected incidents of fraud. It is essential for organizations to prioritize fraud awareness and internal controls to minimize the risk of fraud.
CPA Practice
APRIL 10, 2023
Even the Tooth Fairy can’t escape inflation. According to new Delta Dental findings from its 2023 Original Tooth Fairy Poll, the average value of a single lost tooth during the past year increased 16% from $5.36 to $6.23. The new value not only has children beaming with gap-toothed smiles but also represents a record high in the 25-year history of the poll.
Going Concern
APRIL 11, 2023
Called it ! Financial Times reported moments ago : EY has called off the plan to break up its audit and consulting businesses after months of internal disagreement. The decision is set to be communicated to partners in a note on Tuesday, said people with knowledge of the matter. More to come shortly. The post The EY Split Is Officially DEAD appeared first on Going Concern.
Speaker: Susan Richards
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Insightful Accountant
APRIL 9, 2023
Check out some of the cool customization features you can use with the icon bar, complements of internationally renowned ProAdvisor Esther Friedberg Karp.
Withum
APRIL 11, 2023
Business email compromise (BEC) is one of the most financially damaging cyber crimes currently facing businesses. Organizations often experience losses in the hundreds of thousands, if not millions, of dollars before this exploit is discovered. According to the FBI Internet Crimes Complaint Center, there were almost 22,000 complaints of BEC, resulting in over $2.7 billion in losses in 2022, which was over 25% of total financial losses due to cyberattacks. 1 Google and Facebook collectively lost
CPA Practice
APRIL 12, 2023
Suppose you’re in the midst of divorce proceedings and trying to divvy up assets in a reasonable manner. Some are easily divided, but others can cause more complications. For instance, how does one spouse gain access to the vested benefits in the other spouse’s 401(k) plan? In this case, a qualified domestic relations order, QDRO for short, may do the trick.
Going Concern
APRIL 12, 2023
We knew this was coming. Bloomberg has reported that Silicon Valley Bank auditors KPMG have been sued — along with underwriters Goldman Sachs, Bank of America, and Morgan Stanley — after SVB’s spectacular collapse on March 10. KPMG audited the bank for nearly 30 years. Similar to previous suits, a complaint filed Friday in the federal court in San Francisco names Silicon Valley Bank Chief Executive Officer Greg Becker and other bank directors and officers as defendants.
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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?
Xero
APRIL 12, 2023
It wasn’t that long ago that you needed to take out a credit card and enter the number every time you wanted to pay for something online. Today, you can instantly complete purchases in a few clicks, like Amazon’s ‘buy now’ express button. This is an early example of embedded finance — one of the top fintech trends that is changing the way people use and move money.
Insightful Accountant
APRIL 11, 2023
RCReports' Paul S. Hamann takes a deep dive into calculating Reasonable Compensation for today's growing cannabis businesses.
CPA Practice
APRIL 13, 2023
Deloitte has launched a new practice designed to help clients harness the power of Generative AI and Foundation Models to exponentially enhance productivity and accelerate the pace of business innovation. The new practice combines the world-class services, AI talent and deep industry experience that enterprise leaders need as they design their Generative AI strategies and leverage the disruptive new technology to create innovative AI-fueled applications.
Going Concern
APRIL 13, 2023
We are still working on a more detailed post-mortem of the Project Everest collapse and our guesses for what comes next but in the meantime, check out what The Guardian ran this morning. EY has reportedly told UK staff to brace for a wave of cuts, after the business spent $600m (£480m) globally preparing for a now-scrapped breakup of its operations.
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.
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