CPA Practice

MAY 9, 2023

You may have heard that job openings in the United States dropped significantly in February, falling below 10 million for the first time since May 2021. But if you study the Bureau of Labor Statistics (BLS) data a little more closely, you’ll find that quits also edged up slightly that same month to 4 million. Further examination of BLS data shows monthly quit rates have been on a downward trend generally over the past year.

Account 115

Account accounted accountant cpa firm 115

Insightful Accountant

MAY 7, 2023

Cloud Accounting Podcast host David Leary shows you the secret to improving your workflows and saving time. Sign up for the Future Forward webinar today.

Account 98

Account accountant accounted 98

LSLCPAs

MAY 9, 2023

As a law firm your primary goal is focusing on your clients and cases. As a business you still need to be sure your financial statements are in order, bills are being paid, invoices are being collected, and your firm is in compliance with accounting principles and regulations. And, you want your firm moving in. The post How Outsourced Accounting Can Save Law Firms Time and Money appeared first on LSL CPAs.

accounting principles 52

accounting principles Account accounted accountant 52

Mark Lee

MAY 10, 2023

This personal list simply reflects my experience and views. None of these qualities are about efficiency vs inefficiency, nor about old-style vs new-style and it’s certainly not about qualified vs unqualified. You may think some of the qualities listed below are obvious – but you may also be surprised how easy it is to fall into the related traps. Or you may disagree of course.

Account 40

Account accounted accountant bookkeeping 40

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

Going Concern

MAY 9, 2023

In recent years, US firms have shifted heavily into offshoring and it seems it never crossed anyone’s mind that offshore talent might be a finite resource. So far it seems dwindling accounting graduate numbers in the Philippines are mostly affecting in-country businesses and firms, still something worth keeping an eye on. This is from CNN Philippines in March : The country is facing a shortage of accountants as college enrollment for this field of study dropped while those licensed chose t

cpas 122

cpas Account accounted accountant 122

CPA Practice

MAY 9, 2023

Small businesses will continue to face challenges accessing fresh capital, boosting profits, managing payroll costs, weathering supply chain difficulties, and hiring new employees over the next year as economic turmoil persists in the U.S., accountants predicted in a new survey. The survey of 536 accountants who represent 100,000 or so small businesses was conducted during tax season in March and April by tax compliance automation provider Avalara in partnership with accounting news and analysis

Account 64

Account accounted accountant payroll 64

Basis 365

MAY 11, 2023

Cost accounting is essential to running a business, as it helps companies identify and understand their costs, expenses, and profitability. By tracking costs, companies can make informed decisions about pricing, product development, and resource allocation. Let’s explore the importance of cost accounting and the key metrics businesses should track to optimize their operations.

cost accounting 52

cost accounting Account accounted accountant 52

CPA Practice

MAY 8, 2023

Shortly after Fortune released its ranking of the 100 best companies to work for in 2023, which included a smattering of public accounting firms , the business magazine came out with its inaugural ranking of the best online master’s degree programs in accounting. “Accounting is an essential component of any business today, and an online master’s degree program in accounting could ready graduates for CPA licensure or unlock job opportunities for those accountants seeking to boost their careers,”

North Carolina 111

North Carolina Account accounted accountant 111

inDinero Accounting

MAY 10, 2023

SAFE notes sound like an easy win. You issue a SAFE note to an investor and get financial support right when you need it. There is minimal back-and-forth negotiation and no debt obligations or loss of equity in the present. Sure, there are some strings attached. In exchange for their financing, the investor will own a certain percentage of your company at an unspecified future date.

accounting and finance 95

accounting and finance Finance Start-ups Legal 95

Going Concern

MAY 12, 2023

Have you ever been totally in the zone, grinding away at work oblivious to the world around you when you’re rudely interrupted by a *DING* that snaps you right out of your trance and back to the tedium of a seemingly infinite inbox? Or maybe you were cruising along on some project you’d been putting off when a calendar reminder pops up to tell you you’ve got ten minutes of focus remaining until you need to be in yet another useless meeting (this is me).

Education 130

Education Spend Management payroll Technology 130

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Technology

Airbase

MAY 12, 2023

You’ve made certain that every operating unit has clear policies to control the risks that are created when employees engage a vendor and agree to pay for products and services. Some examples of these policies might include: Finance has clear expense policies in place, including what documentation is required and who needs to approve new purchases. IT requires SOC reports for new software vendors.

Approval Workflows 130

Approval Workflows Modern Spend Management Legal Spend Management Platform 130

CPA Practice

MAY 10, 2023

By Jelani Gibson, nj.com – (via TNS). New Jersey Governor Phil Murphy has signed a bill into law that makes it possible for New Jersey cannabis businesses to deduct some expenses on state tax returns by decoupling them from federal rules. Since cannabis is federally prohibited, cannabis businesses were not allowed to deduct expenses like normal businesses would (Section 280E of the IRS Tax Code).

New Jersey 135

New Jersey Tax income tax Legal 135

TaxConnex

MAY 11, 2023

A state has not added a statewide sales tax since Richard Nixon was in the White House. Vermont was the last to due so in 1969. There are five remaining states with no state level sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware – often referred to as the NOMAD states. Businesses based in these states still have the obligation to track their nexus footprint outside of their state and manage sales tax where they’ve determined they have an obligation.

Montana 130

Montana Alaska New Hampshire Oregon 130

BurklandAssociates

MAY 9, 2023

In addition to helping startups manage short-term cash and extend runway, FP&A provides the data for a strong future game plan. The post Pre-Revenue Startups Are Looking to FP&A to Manage & Preserve Cash appeared first on Burkland.

Gaming 130

Gaming 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

Insightful Accountant

MAY 10, 2023

Zamp's team includes former state auditors, sales tax experts, research specialists and first employees of Stripe-acquired TaxJar & Vista-acquired Avalara.

Sales 119

Sales auditor Tax 119

CPA Practice

MAY 11, 2023

By George Kelly, Silicon Valley, San Jose, CA (TNS) A 58-year-old Oakland man and five others have been charged with various crimes related to a multimillion-dollar COVID-loan fraud scheme, a U.S. Justice Department spokesman said Wednesday. At the center of the scheme, according to federal prosecutors, is former IRS agent Frank Mosley, who was also identified as a “current city of Oakland tax enforcement officer.

payroll 127

payroll tax return payroll tax Tax 127

TaxConnex

MAY 9, 2023

Losing an important member of your finance team can leave a big hole in many business processes, especially if most of your accounting functions are managed in-house. But what happens when you lose the person managing your sales tax obligations? For most businesses in this scenario – there are three options: Re-hire for the position Distribute tasks among other members of the team Outsource In this blog, we’ll look at the potential to distribute tasks to current team members.

Sales 130

Sales Tax accounting and finance audit 130

Going Concern

MAY 8, 2023

While most of us were sleeping, PwC Australia was starting its Monday minus one CEO. Tom Seymour has stepped down following a board of partners discussion after it was revealed last week he was one of several partners who received confidential government intel that was then used to advise clients on tax matters. “We have agreed with Tom that it is in the best interests of the firm and our stakeholders,” said PwC in a statement.

Non-Profits 114

Non-Profits Tax Government corporation tax 114

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

Insightful Accountant

MAY 11, 2023

W-9 and Contractor Payment options are among the QuickBooks Online updates inspired by accountants.

quickbooks 119

quickbooks Account accountant accounted 119

CPA Practice

MAY 8, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Given the economy, many people are looking to save money where they can. Reducing taxes is one way to cut costs, and sometimes moving from a high-tax state to a low-tax state can eliminate thousands of dollars in expenses year after year. After all, if $3,729 of your annual salary goes to state income tax, moving to a state that doesn’t tax income could potentially save you nearly $75,000 over 20 years.

New York 125

New York California North Carolina South Carolina 125

Xero

MAY 9, 2023

Xero wouldn’t be where it is today without the support of our partner community, and that includes our Xero Partner Advisory Council (XPAC). That’s why we’re thrilled to announce our latest XPAC cohort for Australia. The XPAC team is a group of experts connecting Xero to the community and industry alike. They both challenge and champion the needs of the accounting and bookkeeping sector by engaging in open discussion, sharing industry insights, and providing actionable feedback.

bookkeeping 105

bookkeeping Start-ups accounted Account 105

Going Concern

MAY 12, 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. Talent Why Graduates Aren’t Hot on Accounting Careers: Low Starting Pay, Onerous Testing [ Wall Street Journal ] For Connor Verrett, an economics major and entrepreneurship minor at Washington & Lee University who ex

CPA 111

CPA Account accounted accountant 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

Insightful Accountant

MAY 9, 2023

Murph travels back to a series he wrote on measuring manufacturing performance by providing a list of manufacturing KPIs and the related links to the articles with definitions and uses.

Manufacturing 22

Manufacturing 22

CPA Practice

MAY 7, 2023

In the not-so-distant past, working primarily from a remote location like your home was a somewhat unusual occurrence. Not anymore. Due to the pandemic, having employees work from home became standard operating procedure. This included small business owners who regularly burn the midnight oil. And the trend has continued even though the pandemic has abated.

payroll tax 124

payroll tax income tax payroll Tax 124

Withum

MAY 8, 2023

Explore Other Episodes The post The March Banking Crisis: Expert Analysis from Withum Wealth’s Adam Armstrong appeared first on Withum.

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105

Going Concern

MAY 11, 2023

Article image is a still from Armanino’s 2019 recruiting video ‘The Perfect Taco’ Armanino is getting into the marketing business. In recent years, there’s been a push for CPA firms to serve as one-stop shops for more than just tax expertise and audits. And why not? Deloitte Digital has been doing it (and exceptionally well as evidenced by their many, many awards) for years.

cpa firm 110

cpa firm Technology audit CPA 110

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

Insightful Accountant

MAY 9, 2023

NetSuite helps award-winning hand sanitizer business drive efficiencies and sustain its rapid growth.

NetSuite 114

NetSuite 114

CPA Practice

MAY 11, 2023

By James Paille, CPP. Accounting firms have faced a volatile profession in the past year as teams struggled with burnout while staff shortages increased, regulatory changes caught firms off guard – increasing compliance and security concerns – and tax laws became increasingly more confusing for clients and CPAs alike. Evolving client demands rank among the top drivers influencing recent shifts in accounting and firms must find new ways to deliver exceptional service.

Account 119

Account accounted accountant payroll 119

SchoolofBookkeeping

MAY 12, 2023

If you're a QuickBooks accounting professional, you may have noticed a recent change in how new subscriptions to QuickBooks Online are handled. Well actually, you probably haven't noticed it because the process is part of the setup interview that most people may not even realize what's happening. Intuit, the company behind QuickBooks, has started automatically creating QB Payments accounts for all new subscriptions.

quickbooks 98

quickbooks Account accounted accountant 98

Going Concern

MAY 10, 2023

For those of you short on time and/or attention span, here’s Public Company Accounting Oversight Board Erica Y. Williams on Bloomberg today discussing the long-awaited inspection results for two firms inspected in 2022: KPMG Huazhen LLP in mainland China [ PDF ] and PricewaterhouseCoopers in Hong Kong [ PDF ]. PCAOB inspectors found Part I.A deficiencies in 100% (4/4) of the audit engagements reviewed at KPMG Huazhen and 75% (3/4) of the audit engagements reviewed for PwC Hong Kong.

audit 105

audit auditor financial statements accounted 105

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