Thu.Nov 02, 2023

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Key considerations for internal auditors in post-transformation integrations

Accounting Today

These audits are essential to ensure that integration processes are executed correctly, risks are identified and mitigated, and controls are in place to safeguard the organization's assets and financial reporting.

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Virtual card payments and their benefits for accounts payable departments.

Airbase

Virtual cards are a game-changer for accounts payable departments. They’re an efficient solution for any business looking to streamline their expense management and procurement processes. In addition to greater control, security, and flexibility, virtual card payments can save finance teams hours of tedious work. David Coffman, VP Finance at Doximity, says Airbase virtual cards play an integral role in cutting the company’s time-to-close in half.

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IRS criminal investigators team up with other countries to tackle cybercrime

Accounting Today

Officials from the IRS's Criminal Investigation division met with tax officials from four other countries to uncover tax evasion and money laundering schemes through data mining.

Tax 124
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Clean Energy and Climate Action Offer Tax Benefits

CPA Practice

By Diana Crawford, CPA. One of the topics the minds of many tax and accounting professionals is the environment. ESG, as the movement is known, includes the aspects considered when companies invest in environmental, social, and corporate governance policies. Legislation is playing a role in this. The Inflation Reduction Act of 2022 (Act) was visioned to encourage clean energy solutions, manufacturing, and innovation.

Tax 115
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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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Uber, Lyft agree to $328M in back pay for NY drivers

Accounting Today

Attorney General Letitia James says Uber from 2014 to 2017 improperly deducted sales tax and other fees from driver paychecks that should have been paid by passengers.

Tax 117
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Alzheimer’s & Caregiver’s Awareness With the Alzheimer’s Association

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post Alzheimer’s & Caregiver’s Awareness With the Alzheimer’s Association appeared first on Withum.

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Withum Successfully Completes Its First SOC 2 Examination

Withum

Withum is pleased to share that it has successfully completed a System and Organization Control (SOC) 2 Type 1 examination in accordance with the standards set forth by the Association of International Certified Professional Accountants (AICPA). The SOC 2 Type 1 report deems Withum’s design of internal controls in its systems in line with the AICPA Trust Service Criteria.

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Tax Planning for Retirement Income: Strategies for Generating Cash

CTP

As people plan for retirement, they rarely take into consideration the tax implications. What taxpayers may not realize is that the amount of retirement income that goes toward taxes can considerably lower the funds available to sustain the type of life they imagined for themselves. This is where offering your assistance as a Certified Tax Planner can be invaluable.

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Impact of Section 6417: IRA Domestic Content Requirements

Cherry Bekaert

What Is Section 6417? 2023 has been an exciting year for clean energy investments as more guidance has been issued surrounding the Inflation Reduction Act (IRA). One of the most anticipated new provisions of the IRA is Internal Revenue Code Section 6417 , known as the elective pay regime. This allows non-profits and certain governmental entities to receive credits in the form of cash payment rather than as nonrefundable credits.

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NASBA CEO Ken Bishop plans to retire

Accounting Today

The longtime leader of the National Association of State Boards of Accountancy plans to retire at the end of July.

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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 Ins and Outs of DCAA Accounting for Government Contractors

AccountingDepartment

When it comes to compliance with government regulations, navigating the intricacies and nuances of DCAA accounting is essential for any government contractor. DCAA stands for Defense Contract Audit Agency, a branch of the Department of Defense that is tasked with auditing and evaluating proposal and contract costs for the government.

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Thomson Reuters Unveils Generative AI Strategy Designed to Transform the Future of Professionals

Insightful Accountant

Thomson Reuters, a global content and technology company, today announced updates on its multi-year global investment strategy in generative artificial intelligence. These include integrating generative AI skills through product, Westlaw Precision.

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Intuit to Close Down Mint, Shift Users to Credit Karma

CPA Practice

Intuit Inc. will be closing down Mint, its personal financial management app it acquired in 2009, starting in 2024. Intuit has stated that it will encourage a shift of these users to the similar Credit Karma, which Intuit acquired in 2020. Both systems offer similar features for tracking credit scores, spending, and income, and are often ad supported with credit offers based on anonymized user financial data.

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How to Effectively Audit Accounts Payable

MineralTree

Accounts payable is a foundational function that ensures organizations maintain accurate invoices, payments, and vendor relationships, while making bill payments on time. However, amidst today’s rapid and intricate business transactions, particularly in high volumes, managing accounts payable processes can pose significant challenges. Without proper oversight and regular checks, accounts payable can turn into a source of financial complexity and risk.

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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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Senior Associates Ask: ‘Why Should I Work So Hard Only to Get Permission to Work Even Harder?’

Going Concern

The Institute of Chartered Accountants in England and Wales has written about the talent shortage , more specifically how accounting firms can retain talent in a world where sticking it out until partner is no longer something staff are interested in doing. For “Broader career paths attract accountancy talent” ICAEW spoke to Michael Smets, Professor of Management at University of Oxford’s Saïd Business School , an expert of sorts who’s dedicated two decades of his life to obser

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Grassi announces ESOP

Accounting Today

The New York-based Top 100 Firm is also adopting an alternative practice structure.

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Are Skagit County Consumers Exhausted by Tip Screens?

SkagitCountyTaxServices

You might remember this little story from last year when an ex-IRS contractor pleaded guilty to leaking President Trump’s private taxpayer information along with many other wealthy individuals. It brought the IRS’s ability to secure taxpayer data into question along with a demand for better security measures as they continue to hire and train a new workforce in their walls.

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The Employer and Employee Tax Benefits of Group Term Life Insurance

CPA Practice

Employers are often searching for the “latest and greatest” ways to reward employees with fringe benefits, but one of the best options has been around for seemingly forever: employer-paid group-term life insurance coverage. Not only can it provide tax-favored coverage for employees across-the-board, an employer can carve out extra benefits for certain higher-ups.

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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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Majority of organizations now use AI in financial reporting

Accounting Today

A recent poll of finance leaders has found that the majority of organizations now use AI in at least some of their financial reporting process.

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Accounting Marketing Firm Wins Two Awards

CPA Practice

Edge Marketing, Inc. (formerly Edge Legal Marketing and Accounting Edge Marketing), a Minneapolis-based public relations and marketing firm serving the needs of organizations in the legal and accounting industries, has been named a gold winner in two categories of the prestigious MarCom Awards. The agency was named a gold winner for a company launch publicity campaign in the categories of strategic communications, media relations and publicity campaign.

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TGI Fridays' Global Expansion Sizzles with NetSuite

Insightful Accountant

NetSuite helps TGI Friday’s global chain automate financial processes, improve decision-making, and expand revenue streams.

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The Accounting Firm’s Guide to Preparing for the Tech Stack of the Future

CPA Practice

The accounting industry has been changing rapidly—and there are a number of factors at play that are causing those changes. Firms that want to succeed will have to quickly adapt to this moving landscape by adopting new strategies. Our new ebook “The Accounting Firm’s Guide to Preparing for the Tech Stack of the Future” discusses what these changes are, how they are affecting your firm, and what your firm can do to successfully adapt.

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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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Citrin Cooperman acquires Gettry Marcus

Accounting Today

The Top 30 Firm is expanding its presence in the New York area, the latest in a series of deals after receiving private equity funding.

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Optimizing Payroll Management for Staffing Businesses

Withum

In this digital age, efficient payroll processes are not just about cutting checks; they are a strategic tool that can drive business growth. Payroll management is a driver of client satisfaction for staffing businesses due to its direct impact on worker retention, efficiency of temporary workforce management, accuracy of employee benefits and deductions, financial stability and more.

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Texas Society of CPAs Hosts Accounting Opportunities Month

CPA Practice

The Texas Society of CPAs is collaborating with the American Institute of CPAs and other state CPA societies throughout the U.S. for a unique career awareness event aimed at inspiring and educating students about career opportunities in accounting. Accounting Opportunities Month will bring Certified Public Accountants into middle school, high school and college classrooms to share their career journeys, debunk common myths, and provide valuable insights into the accounting profession.

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Responding to the evolving Transport & Logistics Landscape

Menzies

Menzies LLP - A leading chartered accountancy firm. Menzies’ Scott Bright has a unique insight into businesses operating in the evolving Transport and Logistics sector, which is having to respond to changing market pressures. In this article Scott throws light on some of the common financial reporting challenges business owners face as well as some strategies for improving decision making.

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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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Cryptobros Celebrate the GAO Shooting Down a Sneaky SEC Staff Accounting Bulletin

Going Concern

Call them worthless bureaucrats if you must but the US Government Accountability Office (GAO) just made a bunch of friends in the crypto space this week with its decision on Staff Accounting Bulletin No. 121 issued by the SEC in March of last year. Without getting too deep into it, said bulletin provided interpretive guidance on how covered entities should account for and disclose their custodial obligations to safeguard cryptoassets held for their platform users.

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New Xero Data Shows US Small Businesses are Getting Paid Faster, Despite Weak Sales Numbers

Insightful Accountant

Xero, the global small business platform, released new findings as part of its Xero Small Business Insights (XSBI) program, which aggregates and anonymizes data from tens of thousands of Xero small business subscribers in North America.

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How to address the persistent skills gap in global trade management

ThomsonReuters

Multinational companies the world over face an increasingly common problem —namely, they are finding it difficult to hire people with the skills and experience needed to fill many key global trade management positions. This fact was revealed in the Thomson Reuters® Institute (TRI) Global Trade Report 2023 , where 33% of the companies surveyed continue to be understaffed and 53% have plans to actively recruit for new roles in global supply chain management. 37% of respondents also said they are c

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Maximising productivity in remote work: the essential tips you need

Reckon

Guest post by Erika Witt Remote work has revolutionised the way we approach our professional lives. It offers the freedom to work from the comforts of our homes or any corner of the world. And the comfort of working remotely has many other benefits to enjoy. But, from juggling household chores and family responsibilities to maintaining a clear boundary between work and home life, this freedom does have several challenges to overcome.

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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.