Wed.May 08, 2024

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After five years in an accounting career, what's next?

Accounting Today

Here are some suggestions to help you take your job, your career — and our profession — to the next level.

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Next Generation FP&A with Acterys: 5 takeaways from the Workshop

Acterys

Acterys’ esteemed Italian partner, Bi Factory , recently hosted the “Next Generation FP&A” workshop on April 11, 2024. This event was specifically arranged for Italian organizations aiming to refine their planning and analytics processes. Featuring profound insights from industry experts at Bi Factory, including Franco Perduca (CEO and CTO), Sara Bozzo (CEO and Team Lead), and Walter Gabetta (Head of Global Business Relationship), the workshop attracted numerous companies a

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Let’s Brainstorm Shopping Ideas For Underwear Strong Enough to Accommodate This PwC CEO’s Massive Balls

Going Concern

It’s been a little over a year since Australian Financial Review uncovered a scandal when it peered underneath the rug PwC Australia was trying to hide its dirty business under, a scandal that saw a trusted partner using his position on a government tax panel to monetize confidential information that clients could use to get ahead of an upcoming change in tax law.

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95% of Small Biz Owners Happy with Company They Started

CPA Practice

Although many small business owners face continued economic uncertainty, their personal drive and long-term aspirations are buoying their optimism. That’s according to data from the third Amex Trendex: Small Business Edition, an annual survey commissioned by American Express. “Small business owners are concerned about issues like pricing and cash flow, but they are overwhelmingly happy that they chose their career path as an entrepreneur, and most intend to be small business owners for the long

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Real Accounts: What to Know About These Permanent Accounts

Patriot Software

In accounting, you deal with a variety of accounts to balance and organize your books. One type of account you will likely run into is a real account. But, what are real accounts exactly? And, how does it differ from other accounts in accounting?

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Canopy Raises $35M in New Funding Round

Canopy Accounting

South Jordan, UT – [May 8, 2024] – Canopy, the firm-wide operating system that helps accountants build the firm they’ve always wanted , is thrilled to announce the successful raising of $35 million in an oversubscribed round. The round was led by Ten Coves Capital and Ankona Capital, with participation from Pelion Venture Partners, Tenaya Capital, and NewView Capital.

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AuditBoard Adds InfoSec Solution Enhancements for Cyber Risks

CPA Practice

AuditBoard, the leading cloud-based platform transforming audit, risk, compliance, and ESG management, today announced powerful enhancements for its InfoSec Solutions to help organizations meet their IT compliance, cyber risk, and vendor risk management needs in the face of rising risks and increased regulatory requirements. With these new capabilities, including enhanced AI automation, customizable automated workflows, and real-time analytics, teams can better manage and communicate InfoSec ris

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Payroll Cutoffs: Best Practices to Pay Your Employees on Time

Patriot Software

Paying your employees on time is essential, especially because 62% of Americans live paycheck to paycheck. Plus, many state pay frequency requirements regulate when you pay employees. Understand payroll cutoffs to pay your team on time, every time. So, what is a “payroll cutoff?” What is a payroll cutoff?

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Patriot Software Launches 1099 Contractor Portal Feature

CPA Practice

Patriot Software, a provider of online accounting and payroll software for American businesses, announced the launch of the 1099 contractor portal to streamline information between clients and their independent contractors. The 1099 contractor portal is a secure self-service platform for 1099 contract workers granting them access to view and edit their personal and direct deposit information, and their payment history from clients.”The 1099 contractor portal was a highly requested feature,” said

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Forensic accountants help elder fraud victims

Accounting Today

Senior citizens often fall victim to elder financial abuse, even at the hands of their closest relatives, but accountants can help protect them.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Eide Bailly Adds 24 New Partners for 2024

CPA Practice

Top 20 accounting firm Eide Bailly has promoted 24 individuals to partner or principal, according to a post on its LinkedIn page. The new partners and principals in the class of 2024 “have a diverse range of skills, backgrounds, and expertise that will further strengthen our firm’s capabilities and bring value to the many clients we serve,” the firm said.

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SEC climate rule has wide implications

Accounting Today

The SEC's guidance is a part of a much broader movement as the U.S. strives to catch up with Europe.

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How CPAs Are Evolving Into Strategic Advisors

CPA Practice

By Dr. Sangeeta Chhabra There is no question about how CPAs have evolved in their role over the past couple of decades, but what has really been behind it and, more importantly, how do you they get there? As the business world sees a paradigm shift in the form of technological innovations, global operations, and government regulations, traditional roles and responsibilities of professionals are evolving for the better.

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Flexible Scheduling Proposal for Skagit County Small Businesses

SkagitCountyTaxServices

This is how I often feel about the government’s decision-making with taxes: Q: What’s the difference between death and taxes? A: Congress doesn’t meet every year to make death worse. Honestly, as a small business owner, you most likely feel that pain. Take this for example: The U.S. Department of Labor (DOL) just introduced a new overtime rule. Beginning July 1, salaried workers earning less than 43,888 a year will qualify for 1.5 times pay if they work more than 40 hours a week.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Citrin Cooperman Adds Maier Markey & Justic

CPA Practice

Top 25 accounting firm Citrin Cooperman has acquired Maier Markey & Justic (MMJ), a White Plains, NY-based CPA firm, expanding the firm’s presence in the New York City metro area. Financial terms of the deal weren’t disclosed. As a result of the acquisition, four MMJ partners and more than 40 employees have joined Citrin Cooperman. “MMJ is fantastically aligned with our firm in both service offerings and industry expertise,” Alan Badey, CEO of Citrin Cooperman, and Mike Zyborowicz, managing

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Do You Even Need Any Marketing?

Ryan Lazanis

Marketing is arguably the practice that most firms use to attract new clients. But, do you really need it? Find out in this episode. The post Do You Even Need Any Marketing? appeared first on Future Firm.

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Bridging the Audit Talent Gap: Audit Outsourcing Solutions

CPA Practice

Given the severe auditor shortage in the USA, many CPA firms have expanded their adoption of outsourced auditors, increasing from 6% pre-pandemic to more than 40% at present. May 02, 2024 CPA firms are facing the twin challenges of managing a high volume of audit engagements and coping with the industry-wide talent shortage. Amidst this landscape, the value of an experienced audit team becomes even more significant.

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Enhancing Claims Processing Oversight: Key Aspects of User Entity Controls

Withum

In the context of claims processing for self-insured plans, Third Party Administrators (TPAs) play a critical role in designing internal controls to ensure accuracy and timeliness. However, relying solely on the TPA’s internal control structure may not be sufficient for a plan sponsor. This is where User Entity Controls (UECs) come into play, providing essential oversight to ensure the proper functioning of the system.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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2024 Grads Actually Want to Work in the Office, Gusto Finds

CPA Practice

By Sarah Lynch, Inc. (TNS) The class of 2024 graduates this month—and soon, many will be swiping in at the office. Full-time salaried employees between the ages of 20 and 24 are less likely to work fully remotely than other age groups, according to a new analysis from the payroll provider Gusto of more than 300,000 small and midsize businesses. These recent graduates are 27 percent less likely to be fully remote than workers in their 30s.

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Sidestepping the SALT Cap with the Pass-Through Entity Tax

CTP

The Tax Cuts and Jobs Acts (TCJA) of 2018 stirred up mixed responses by introducing a $10,000 cap on state and local tax (SALT) deductions for individual taxpayers. However, since the legislation did not include a limit for businesses, the states most impacted by the SALT cap have leveraged this as a workaround for their constituents. This led to the introduction of a pass-through entity (PTE) tax , which allows S corporations, LLCs, partnerships, and sole proprietorships to pay their state tax

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Shohei Ohtani’s Former Interpreter Agrees to Plead Guilty to Stealing $17 Million

CPA Practice

By Connor Sheets, Los Angeles Times (TNS) Ippei Mizuhara, the former interpreter for Dodgers superstar Shohei Ohtani, has agreed to plead guilty in federal court to stealing millions of dollars from Ohtani to cover gambling debts, according to the U.S. Department of Justice. The 39-year-old Japanese-language interpreter has reached a plea deal for one count each of bank fraud and subscribing to a federal tax return, the Justice Department said.

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Reconciling Payroll Liabilities in Local Government Agencies: Accounts That Always Seem Wrong and Everyone Avoids

LSLCPAs

Is the balance in your payroll liability accounts ever-increasing, with no explanation why? Do you have liability accounts with large debit balances? In this article, we will discuss how to tackle those problem accounts that keep you up at night. Most organizations have too much to do, with inadequate staffing, resulting in certain reconciliations falling.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Ledgible Program Assesses a Company’s Readiness for 1099-DA Reporting

CPA Practice

Crypto tax and accounting platform Ledgible recently launched its Digital Asset Assessment program following the release of the draft Form 1099-DA for digital asset transaction reporting by the IRS in April. Ledgible’s new readiness assessment program is designed to examine and assess a company’s existing compliance, data, and reporting infrastructure for upcoming digital asset reporting requirements.

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AI’s Rapidly Evolving Landscape and Its Impact on the Hospitality Industry

Withum

AI, or Artificial Intelligence, has been around for decades and can be defined in one way as the simulation of human intelligence, specifically by machines. The first discussions regarding artificial intelligence originated back in 1956, the first chatbot went live in 1964, and college students were commonly studying this concept by the late 1980`s.

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Wipro and Kognitos Collaborate to Deploy GenAI-Based Business Automation Solutions

CPA Practice

Wipro, a technology services and consulting company and Kognitos Inc., a provider of generative Al automation, are collaborating to deploy enterprise-ready GenAI-based Business Automation Solutions. In addition to this, Wipro Ventures, Wipro’s corporate investment arm, invested in Kognitos as part of the firm’s Series A funding round. Wipro’s Digital Operations and Platforms business line will leverage Kognitos’ platform to drive productivity in large transformation engagements.

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Patriot Software Launches 1099 Contractor Portal Feature

Patriot Software

Canton, Ohio Patriot Software, a provider of online accounting and payroll software for American businesses, announced the launch of the 1099 contractor portal to streamline information between clients and their independent contractors.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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SBIR/STTR Grant Funding 101: How to secure non-dilutive funding for science & tech start-ups

Shay CPA

In the competitive world of startups, finding money that lets you keep full control of your creative business is like finding a hidden gem. The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs represent such a treasure, offering up to $2 million in non-dilutive funding! Understanding SBIR and STTR: A Lifeline for Startups At their core, SBIR and STTR are prestigious federal programs aimed at supporting science and technology startups.

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Data Cleanup: Balancing the Balance Sheet

Insightful Accountant

In preparation for next week's QB Talks about Finding and Cleaning Up Bad Data, I thought I'd talk about one of my favorite issues. Failure to Balance the Balance Sheet.

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KROST Named America’s Most Recommended Tax Firm 2024 by USA TODAY & Statista

KROST

USA TODAY and Statista have named KROST one of America’s Most Recommended Tax Firms 2024! The recent collaboration between USA TODAY and Statista marks the first year the recognition is being presented. Statista conducted extensive research by surveying tax and accounting professionals and their clients. They were asked to recommend up to ten tax or Read the full article.

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Citrin Cooperman acquires Maier Markey & Justic

Accounting Today

The Top 25 Firm bolstered its business process outsourcing practice with the latest M&A deal.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.