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In a dynamic industry where change is the only constant, good cash flow management stands as one of the most critical factors for the success of e-commerce businesses. Navigating the online retail waters is often turbulent, with fast-paced transactions and a myriad of financial nuances that demand efficiency and foresight. Poor cash flow management could capsize even the most promising ventures, while a firm grasp on financial inflows and outflows can propel your e-commerce business forward, ens
The Illinois CPA Society (ICPAS)—one of the largest state societies serving the certified public accountant (CPA) community—has announced the honorees of its annual Outstanding Leadership Awards program, which celebrates distinguished leaders within the CPA profession through a variety of prestigious awards. “It’s an honor to formally recognize those who have gone above and beyond in their service to both our organization and the accounting profession,” says Geoffrey Brown, CAE, ICPAS president
Ed. note: By “salty” I mean in the experienced sailor/pirate way, not the modern definition of someone who’s just mad because they suck. Industry OG and commentator Gene Marks has written an opinion piece for The Hill about what audits actually are that is less opinion and more brutal fact: Why you should be very skeptical of that auditor’s report.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
The first pilot for the Making Tax Digital (MTD), Income Tax Self-Assessment (ITSA), begins on 22 April 2024. Here’s what businesses, landlords and accountants need to know, and how they can prepare for the upcoming changes. In the coming years, we’ll be stepping into a new era of tax filing, one marked by a shift from traditional paper-based processes to a digital-first approach.
Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. In Corona, CA, part of the Inland Empire, taxpayers and businesses often seek clarity on resolving these issues effectively. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. 1. What is Audit Representation and How Can It Help Me in Corona, CA?
The AICPA & CIMA have released their “Redefining Finance for a Sustainable World ” white paper, the latest iteration of their Future of Finance research program. Originally launched in 2019 as the Re-inventing finance for a digital world white paper, this extensive global research program explores the future of the accounting and finance profession in the age of disruption and its broader ecosystem, defining essential skills, competencies, and knowledge needed to succeed in an ever-changing
The AICPA & CIMA have released their “Redefining Finance for a Sustainable World ” white paper, the latest iteration of their Future of Finance research program. Originally launched in 2019 as the Re-inventing finance for a digital world white paper, this extensive global research program explores the future of the accounting and finance profession in the age of disruption and its broader ecosystem, defining essential skills, competencies, and knowledge needed to succeed in an ever-changing
If you haven’t learned to harness the power of the pivot, you’re missing out! Follow this detailed, step-by-step guide to create your own pivot tables in QBO and harness the full power of your financial data.
Deloitte auditors have been turning their attention to climate risks affecting clients who need to deal with a growing array of regulations and laws around the world as the pace of climate change accelerates.
As reported in IR-2024-46 Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the Internal Revenue Service announced on 2/21/24 plans to begin dozens of audits on business aircraft involving personal use. The audits will be focused on aircraft usage by large corporations, large partnerships and high-income taxpayers and whether for tax purposes the use of jets is being properly allocated between business and personal reasons.
There’s nothing like just walking down the hall of your office or clicking into a virtual team meeting to get an answer on something as complex and important as your company’s sales tax obligations. To handle sales tax in-house, you need someone on staff who understands evolving rules and regulations; can track a galaxy of filing deadlines and notices; and understands how your company growth changes tax obligations.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Many startup founders fail to realize that neglecting HR compliance can lead to significant red flags during investor due diligence. The post 3 Common HR “Gotchas” That Could Get You During Due Diligence appeared first on Burkland.
From: Entrepreneurs’ Organization | Inc. [Via TNS.] By Kent Lewis, an Entrepreneurs’ Organization (EO) member in Portland, Oregon, is the founder of pdxMindShare , an online career community focused on Portland professionals: I recently shared a presentation on increasing employee engagement and retention by fostering a Culture of Caring with a group of Silicon Valley entrepreneurs.
Download Whitepaper The impact of artificial intelligence on how we live, work and do business has been undeniable for over a decade. Its practical applications range from suggesting the next sentence when crafting emails to producing lifelike animations, from enabling smart and interconnected manufacturing robots to efficiently distribute workloads on assembly lines to predicting customers’ preferences or even helping land a plane.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
As of April 11 of this year, if a foreigner wants a Skilled Worker visa to work in the UK they must earn a minimum of £38,700 (about $48k USD), up from the prior minimum of £26,200, unless the work falls under a small category of jobs on the shortage occupation list like health and care workers, graphic designers (take that, Canva), and veterinarians.
The newly formed Alternative Dispute Resolution Program Management Office, an arm of the IRS Independent Office of Appeals, will work with the agency’s business operating divisions—Wage & Investment, Large Business & International, Small Business/Self-Employed, and Tax Exempt and Government Entities—to help taxpayers resolve tax disputes earlier and more efficiently, the IRS said on April 24.
Withum is proud to share that Forbes has named four team members to its inaugural Top 200 CPAs List. Jim Bourke is the Managing Director of Withum’s Advisory Services practice. Forbes recognized him for his former board and leadership positions at both NJCPA and the AICPA. Jim was also recently recognized by Accounting Today on their list of Top 100 Influential People in Accounting.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Tax technology is changing, and tax professionals are looking for reliable resources when it comes to the future of AI within tax tech. Today, Thomson Reuters is announcing their upcoming tax launch.
Firms must transform their business models to afford the cost of multilayered retention strategies, a new report by the Pennsylvania Institute of CPAs says.
By Chris Stephenson and Eric Hylton. The race to integrate Artificial Intelligence into the workflow of Certified Public Accountants is no longer a futuristic concept, but a current reality. Large accounting firms have made substantial strides in using AI to augment their services and deliver high quality outcomes. Yet, for many CPA firms, particularly small to mid-sized organizations, the current pace of technological advancement can seem dauting.
Intuit announced they are halting new subscriptions for several QuickBooks Desktop (QBD) products after July 31, 2024. It’s crucial to stay informed about these changes, which may impact your business in the short and long term. In our FAQ guide, we aim to clarify various aspects surrounding the sunsetting of QBD to ensure a smooth transition.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
Insightful Accountant proudly announces this year's Top 25 Up-n-Coming ProAdvisors. Congratulations to all being recognized as this year's award recipients.
By Melissa Angell, Inc. (TNS) The IRS is cautioning taxpayers to be aware of its so-called “Dirty Dozen” list. Each year, the IRS puts out a list that compiles prevalent schemes against taxpayers. The list serves as a reminder to remain vigilant about tax scams not only during tax season, but all year long. Taxpayers should take note, given the uptick in problems seen in recent years: The IRS received 294,138 cases of tax-related identity theft during fiscal year 2023, up from the 92,631 cases s
Last week PwC announced it is “aligning its organizational structure across three lines of service— Assurance, Tax and Advisory—to better serve client needs, their buying patterns and the market” and now Wall Street Journal is saying the incoming consulting partner class will be much smaller than last year’s. Should we be worried? WSJ: PricewaterhouseCoopers is looking to shrink its new class of U.S. consulting partners by more than 50% compared with last year as demand for adv
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.
A lot of ProAdvisors and Accountants voiced their opinions at the April 24th QuickBooks Live Strategy (briefing) webinar. a lot of those opinions were negative, but this might not be as bad as your thinking.
The IRS has long offered alternative dispute resolution, but says use has declined in recent years, and it hopes to make it more attractive and accessible.
By Sarah Lynch, Inc. (TNS) Family businesses are gearing up for growth. Seventy-four percent of U.S. family businesses are anticipating at least 10 percent growth this year, according to newly released data from Family Enterprise USA, a nonprofit and advocacy group that promotes family businesses. While the organization’s full report—the Annual Family Business Survey—has not yet been released, the organization shared that these growth expectations mark a “significant jump from the prior year.
With April 15 come and gone I figured now would be a good time to ask you how it went. I’ll tell you what I saw from my perspective (I stalk all of you on social media but it’s my job so it’s not creepy). Some time last year I noticed more and more practitioners and firm owners on #TaxTwitter expressing a desire to take a step back and sort out the problem clients before filing season hits.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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