Fri.Jul 21, 2023

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CPA Exam Candidates: Save These Dates

Going Concern

Inspired by @profjackc who shared some very important CPA Evolution dates and motivated by our undying sympathy for CPA exam candidates, we’re putting his reminder in picture form to make sure you have these dates. CPA Evolution is bringing big changes with it next year, most notably it’s killing off BEC and replacing it with disciplines.

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IRS warns of summertime tax scams

Accounting Today

The Internal Revenue Service is seeing a surge of tax scams this summer hitting taxpayers via email and text messages touting tax refunds and quick fixes to their tax problems.

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Changing Work-Life Balance Into Work-Life Harmony

Canopy Accounting

As the accounting industry evolves rapidly, so do the demands on accountants. The relentless pressure to meet deadlines, manage financial complexities, and adapt to technological advancements often takes a toll on their work-life balance. Enduring that imbalance is what often can lead to burnout — which, to the surprise of no one in accounting, 99% of accountants suffer from burnout.

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Siegel Solutions Partners with NE Paradigm, Full-Service Marketing Team

CPA Practice

Siegel Solutions, a provider of outsourced accounting, and a QuickBooks Solutions Provider, has partnered with NE Paradigm, full-service marketing solutions team. NE Paradigm has been selected as the trusted marketing partner to further enhance Siegel Solutions’ brand presence and expand its reach in the market. By joining forces with NE Paradigm, Siegel Solutions aims to leverage their expertise in strategic marketing, digital advertising, content creation, and brand development.

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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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IRS Severely Limits Supply Chain Disruptions

Withum

The IRS released a general legal advice memorandum, or GLAM, addressing the employee retention credit (ERC) and supply chain disruptions on July 20, 2023. The GLAM discusses five scenarios where taxpayers might qualify for the ERC on the basis of a supply chain disruption, and then it dismisses each of the claims in order. While the specific principles that can be distilled from the GLAM are discussed below, we believe it is telling that the IRS issued a pronouncement on supply chain disruptions

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Friday Footnotes: Ex-Deloitte Partner Stole Military Documents on His Way Out; KPMG Reveals Its Partnership Deed | 7.21.23

Going Concern

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. News Battle accountancy firm urges others to offer opportunities to Ukrainian professionals after successful placement [ SussexWorld via Yahoo!

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ESG due diligence affects M&A deals

Accounting Today

With increasing demands from regulators and investors to provide some form of sustainability reporting and climate-related disclosures, companies pursuing mergers and acquisitions need to vet their potential targets more closely.

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Pop Star Shakira to Face Second Tax Fraud Probe in Spain

CPA Practice

By Muri Assunção, New York Daily News (TNS) Shakira could potentially face additional fraud charges in Spain, a court near Barcelona said Thursday. The Colombian-born pop superstar—who will soon stand trial for allegedly failing to pay 14.5 million euros ($13.9 million) in taxes between 2012 and 2014—will now be investigated for two possible cases of tax evasion from 2018.

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Tech News: Intuit releases QB Workforce app

Accounting Today

Plus Datarails announces FP&A Genius, touted as "ChatGPT for the CFO's office;" and other accounting technology news and updates.

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Don’t Create Your Maternity Leave Policy Until You Understand Employee Rights

Patriot Software

At some point, one of your employees may need to take time off before and after giving birth. You must create and implement a maternity leave policy before that happens. But before you can establish your policy, familiarize yourself with and comply with maternity leave laws. What is maternity leave?

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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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Why CFOs should spearhead finance and accounting automation and digital transformation

Accounting Today

The CFO must play a crucial role in determining the strategy and tactics to automate and standardize key processes throughout the organization.

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Finding The Right Construction Talent And Common Onboarding Mistakes

Randal DeHart

As a business owner, you know the right people are crucial to your construction company's success. The best employees can help you achieve your business goals, improve productivity, and drive growth. But finding the people best suited to your team can be daunting, and sometimes it's easy to hire someone who seems okay rather than taking the time to find the best fit.

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Minnesota Paid Family Leave to Launch in 2026

Patriot Software

The Land of 10,000 Lakes is the latest state to launch a paid family and medical leave program. Beginning in 2026, Minnesota employers will be responsible for handling payroll deductions for the new Minnesota paid family leave program. The upcoming MN paid family leave means employers and employees pay into a state fund.

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Federal Reserve launches instant payment system

Accounting Today

The US Federal Reserve announced the launch of its new instant payments system, FedNow

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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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Top Outsourced CFO Services for Engineering Firms- 2023 Review

GrowthForceBlog

7 min read As the saying goes, "Money makes the world go 'round," and it also keeps your engineering firm operational.

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The role of AI in accounting education

Accounting Today

ChatGPT provides an opening for educators to use artificial intelligence to help address the pipeline problem.

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July ERC Update: Industry Insights

Cherry Bekaert

The impacts of COVID-19 greatly affected nearly every industry and the ERC was designed to help these industries emerge strong from the pandemic. Our ERC team has worked with a variety of industries and government mandates that caused their businesses to shut down and qualify for ERC. Industries covered during this video include: Auto Dealerships Educational Institutions Churches and Religious Organizations Technology Companies Industrial Manufacturing Healthcare and Medicine Learning Objectives

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PwC Australia Spammed Government Offices to Sell Solutions to Problems They Weren’t Supposed to Know About

Going Concern

The fallout from the PwC tax leak saga continues, this time it’s public servants complaining that PwC pursued and pestered them with unsolicited emails trying to sell them solutions based on information they weren’t supposed to have. Internal emails released by the Aussie agriculture department show one partner had no problem revealing they had insider information passed along from a colleague about the department’s outdated technology, a problem that PwC was eager to fix.

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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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Grant Thornton Names 75 New Partners, Principals and Managing Directors

CPA Practice

Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has admitted 43 new partners and principals and promoted 32 professionals to managing director. These appointments and promotions are effective August 1. Seth Siegel , CEO of Grant Thornton, says the newly promoted leaders represent the firm’s commitment to advancing diverse and highly skilled professionals who can support its business strategy and continue its strong momentum.

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On-Demand Webinar: Cybersecurity 101: Understanding Cyber Risk – What to Know for Your Practice

Withum

Hackers, malware and viruses are a growing concern for medical practices and health systems alike with cybersecurity attacks increasing daily. Join the cybersecurity experts of Withum and HUB International for a roundtable discussion on what to know to keep your medical practice safe and simple steps to avoid security breaches for you and your patients.

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Key Accounting Challenges Facing Professional Services Businesses

Basis 365

Service-based businesses, such as marketing agencies or management consultants, face several accounting issues that are unique to their industry. These challenges may require a perticular way to input the information in the accounting system to generate the output management needs to run their business or the implementation of a system that sits on top of the accounting system for the team to use in their day-to-day.

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Thailand taps Interpol to apprehend fugitive Stark ex-chairman

Accounting Today

The former head of a Thai industrial cable maker at the center of an accounting scandal and debt defaults has been flagged by local authorities seeking to arrest him.

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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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Cash Flow Tips for Professional Services Businesses

Basis 365

Cash flow-related issues are significant concerns for service-based businesses. While cash flow is vital for all businesses, service-based businesses often face specific challenges that can impact their cash flow management. Ensuring there’s enough cash to cover payroll, flow-through entity taxes for owners, or adequate cash flow to hire a sales team now that won’t deliver results for six months are all common discussions we have with service-based businesses.

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The Technology Lab Podcast – Recap of Scaling New Heights Conference 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the recent Scaling New Heights accounting conference. Click here to visit the podcast page.

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On the move: HCJ hires CAS leader

Accounting Today

Centri Business Consulting hosts first Community Collaboration Day; Grant Thornton adds 75 partners; and more news from across the profession.

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UK joins Indo-Pacific trade bloc

Menzies

Menzies LLP - A leading chartered accountancy firm. At the end of last week, the Business and Trade Secretary signed the treaty for the UK to accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in New Zealand. In summary, the Indo-Pacific trade bloc is now worth £12 trillion in GDP, spanning 12 economies and the Government published figures to show that CPTPP-owned businesses employed one in 100 UK workers, equating to 400,000 jobs and membership is now e

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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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Pathways to Growth: The private equity/CPA cultural divide

Accounting Today

For private equity organizations crafting acquisition strategies, and for the firms they are eyeing, it's essential to understand these distinctions.

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House Republicans push for new crypto rules after Ripple decision

Accounting Today

The legislation would make clear when and how crypto firms should register with the SEC or the CFTC, which would gain new powers to directly oversee trading in certain tokens.

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