Wed.Sep 13, 2023

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PwC Is Suddenly Scared of Making Money

Going Concern

First reported by Financial Times on Sunday , it seems PwC is now overly cognizant of conflicts of interest, even just the perceived ones. PwC is planning to give up tens of millions of dollars of consulting work for its US audit clients to reduce the risk of conflicts of interest, challenging its rival Big Four firms to follow suit. The accounting firm has begun to tell clients it will stop offering them some advisory services, even though they are permitted under US rules, as part of a wider

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AICPA offers help with disaster preparedness and ESG

Accounting Today

The American Institute of CPAs is teaming up with other groups to help accountants cope with natural disasters, as well as learn more about the environmental, social and governance area.

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Here’s the Projected Pay Range for Seven Accounting and Tax Roles in 2024

CPA Practice

Salaries for an accountant are expected to range, depending on experience, from $57,719 to $104,788 in 2024, as the balance of power tilts slightly back toward employers with the Great Resignation winding down , according to the 2024 Salary Guide from staffing agency Randstad USA. “Recent years have seen a talent market dominated by rising salaries, candidate scarcity, and the vast majority of power sitting with the candidates themselves, rather than employers.

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No more shared EDGAR accounts under SEC proposal

Accounting Today

The Securities and Exchange Commission has proposed upgrading the EDGAR system to, among other things, shift from a per-company login system to a per-individual one.

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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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Layoff Watch ’23: Deloitte UK Cuts More Than 800 People Because Business is Slow and People Aren’t Quitting

Going Concern

Reported earlier today by Financial News , Deloitte UK is cutting approximately 3 percent of its workforce or more than 800 people. The cuts are concentrated in consulting, financial advisory, and risk advisory though a few audit and business services folks also got the axe. FN cites slowing demand in the second half of the year and low attrition as the drivers behind today’s cutting of fat.

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IRS cracks down on illegal sports betting

Accounting Today

The Internal Revenue Service's Criminal Investigation division is targeting illegal activity tied to sports betting as the pro football season gets underway.

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More Trending

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EY sees global revenue grow 14.2% to $49.4B

Accounting Today

Ernst & Young saw one of the biggest revenue increases in its history despite the cancellation of its plan to spin off its consulting practice.

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Georgia Taxpayers in 28 Counties Get Extension Due to Hurricane Idalia

CPA Practice

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in 28 of the state’s 159 counties in Georgia. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments. This is similar to relief already being provided in Florida and South Carolina.

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Building Customer Centricity and Supply Chain Efficiencies With Continuous Improvement

Cherry Bekaert

A leading medical supplies manufacturer offering an extensive range of intravenous (IV) kits, surgical tools and hospital equipment sought to reimagine its business model for process improvement. In 2022, the organization was acquired by a middle-market private equity firm to drive value through digital transformation and operational efficiencies. The Challenge With the organization’s expansion, supply chain management and order fulfillment became increasingly difficult, as the customer service

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Avalara AvaTax for SAP Solutions Are Now SAP Endorsed Apps Available on SAP Store

CPA Practice

Avalara , a leading provider of tax compliance automation software for businesses of all sizes, announced that its Avalara AvaTax solutions for SAP Business One and SAP S/4HANA & SAP ERP are now SAP Endorsed Apps, available for purchase on SAP Store. Avalara AvaTax for SAP Business One is an SAP Endorsed App in the ERP for Small and Midsize Enterprises category.

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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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The Moore Case: Section 965 Tax on Foreign Earnings

Cherry Bekaert

Earlier this summer, the US Supreme Court announced that it will review the decision in Moore v. United States to determine the constitutionality of Internal Revenue Code (IRC) Section 965, the transition tax on the earnings and profits of foreign subsidiaries. This review hinges on whether such a tax aligns with the Sixteenth Amendment to the US Constitution.

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Economists Say Economy Making Progress, While Businesses Slow on Hiring

CPA Practice

By Reade Pickert and Augusta Saraiva. Bloomberg News (via TNS). The U.S. economy made more limited progress in the second quarter than initially estimated while separate data showed employment growth is moderating. Gross domestic product rose at a 2.1% annualized pace in the second quarter, representing a markdown from the government’s previous estimate as business investment in equipment and inventories were revised lower.

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4 Scalable Features to Increase Your Tax Prep Prices

Ryan Lazanis

As I shared numerous times before, I love the idea of presenting clients with Gold, Silver, and Bronze options for personal tax preparation services. However, in this episode, our focus will be on highlighting some of the additional features you can provide and discussing how to present them, rather than demonstrating how to bundle them together. Listen Below. 0:51 – Out of all the services I offer, standalone personal tax preparation services are probably the ones I like the least.

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Financial Preparedness Guide Available from AICPA & CIMA

CPA Practice

Thunderstorms, hurricanes, droughts, wildfires, and earthquakes are wreaking havoc worldwide, in 2023, there have already been 15 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect the United States according to the National Centers for Environmental Information. However, the financial impact is only the tip of the iceberg; close to 113 people have tragically lost their lives, leaving behind a trail of heartache, and thousands more are desperately trying to

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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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Taking advantage of the shrinking middle tier of CPA firms

Accounting Today

The bevy of CPA firm M&A in recent years has changed the size and composition of firms in the market.

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State CPA Societies in Action: Arizona Society of CPAs

CPA Practice

Celebrating its 100 th birthday in 2023, the Arizona Society of CPAs works to create opportunities for its members, while working to promote the interests of Arizona CPAs with governments and regulatory agencies and organizations. [ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S. ] The ASCPAs mission is to create professional opportunities for members and prospec

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Clients Can Have Peace of Mind with Rewind

AccountingDepartment

Since its establishment in 2015, Rewind has been dedicated to empowering businesses to safeguard their valuable SaaS and cloud data. With an impressive customer base of over 100,000 across 100 countries, Rewind's highly acclaimed apps and unwavering support have become the go-to solution for ensuring the uninterrupted operation of software-as-a-service applications.

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New Markets Tax Credit Case Study for Williams Adult Day Center

Cherry Bekaert

Community Facility in Winston-Salem, NC The Project Focusing on the establishment of an intergenerational share site of child and elderly care, Senior Services transformed the Williams Adult Day Center (ADC) into a 60,000 square foot community facility, introducing several valuable additions. This expansion housed a new head start program and preschool learning center, providing services to 150 students.

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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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SECURE Act 2.0: Understanding the Expanded Small Business Tax Incentives

inDinero Tax Tips

The SECURE Act 2.0 was recently passed, ushering in significant changes to retirement planning incentives. Understanding these new provisions is critical for maximizing potential tax benefits as a small business owner. You’ll have more flexibility with distributions, and your part-time employees can now participate too. Let’s dive in and understand how these expanded financial incentives can significantly benefit you.

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Xero Beautiful Business Fund: Apply now to help your business achieve its sustainability goals

Xero

There’s all sorts of great ways to help make your business more sustainable and have a positive impact. Some businesses might have a sustainability purpose core to what they do, like reducing food waste, wildlife conservation, or waterway restoration. Others might want to become more sustainable, through initiatives like reducing waste or consumption, shifting to a green fleet of vehicles, transitioning to a more sustainable business model, such as circular economy or regenerative agriculture, o

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Inflation expected to drive up tax bracket limits in 2024

Accounting Today

Inflation-adjusted amounts in the Tax Code are predicted to increase 5.4% in 2024, according to a new report from Bloomberg Tax.

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8 Steps to Improving Cash Flow Forecasting

Insightful Accountant

MineralTree's Jose Garcia explains how accurately projecting future cash inflows and outflows can help you anticipate short- and long-term financial circumstances.

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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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Cybersecurity for CPAs: Beware the inside threat

Accounting Today

Not looking out for insider threats can cost a company dearly.

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Padgett & Padgett, PLLC CPA on What “Open For Business” Means To The IRS

SkagitCountyTaxServices

We’re seeing businesses across the nation acknowledge this week’s 9/11 day of remembrance in really special ways. It’s been 22 years already. Looking back, 2001 and 2020 are similar as stand-out turning points for America, albeit in different ways and for different reasons. As it relates to business, 2020 marked a new era of how Americans think about work.

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Idalia victims in Georgia get tax relief

Accounting Today

The IRS is pushing back filing and payment deadlines for those impacted by the storm.

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IRIS Software Group acquires payroll industry stalwart Bridgehead

Accounting Insight

I RIS Software Group (IRIS) is today announcing it has acquired Bridgehead, also known as Harper Morris Payroll , Bridgehead Europe and Bridgehead UK. Founded in 1984, the business is a stalwart of the payroll industry, delivering exceptional care and attention to customers of all sizes in the UK. Bridgehead provides an extensive range of fully managed payroll services and employee benefits with a close-knit team of experienced specialists dedicated to providing a friendly, responsive and

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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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Cherry Bekaert acquires Cordia Partners

Accounting Today

The Top 30 Firm has acquired a provider of outsourced accounting, business advisory, technology and business process consulting services, plus its executive recruiting arm.

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Demystifying Private Equity and Transactions With Physician Practices

Withum

Steve Brady, Market Leader of Transaction Advisory at Withum, and Sidney Welch, Partner in the Healthcare practice at Bradley, take a deep dive into demystifying private equity and transactions with physician practices.

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California gets ahead of SEC in forcing firms' carbon disclosure

Accounting Today

State legislators passed a bill that would leapfrog the Securities and Exchange Commission's efforts to require companies to disclose their greenhouse gases and climate-related financial risks.

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Future Forward 2023: The Problem to Solve, Your Key in Technology

Insightful Accountant

Will Hill Consults' Will Hill will show you everything you need to know about sifting through today's technology opportunities. Sign up for the 'Future Forward' webinar today.

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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.