Fri.Jun 30, 2023

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2023 Not-for-Profit Speaker Series: Tax Considerations for Alternative Investments

Cherry Bekaert

In this course, we discuss tools for determining whether the institution has alternative investments, and if so, whether such investments require additional reporting on Form 990-T or foreign disclosure forms such as 926, 8865, and 5471. We explain how to analyze a Schedule K-1 for disclosures relating to unrelated business income and indirect ownership of foreign investments.

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Destination efficiency: Why effective business travel management is crucial today.

Airbase

Although personal travel is taking off this summer, business travel is having a more challenging time gaining altitude. Some industry analysts say that it could be well into 2025 before demand returns to pre-pandemic levels. Continued economic uncertainty has organizations carefully balancing budgets and benefits when it comes to corporate travel. But the cost of travel’s carbon footprint is an increasingly important factor in assessing corporate travel cost benefit.

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Citigroup is Holding Pay and Bonuses Hostage to Get People Back in the Office

Going Concern

It seems Citi is sick of WFH slackers and is getting the stick: Citigroup Inc. has begun telling managers to let staffers know they’ll face consequences if they don’t comply with policies for office attendance. While the vast majority of staffers are following the firm’s rules for hybrid work, the moves are focused on those employees with persistent, unexplained absences, according to a person with knowledge of the matter.

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Rising Cost of Living is Driving One in Four Employees Globally to Find New Jobs

CPA Practice

By Clarisa Diaz, Quartz (TNS) The rising cost of living is causing employed people to look for either higher pay with a new job or take on additional jobs, according to the recently released Global Workforce Hopes and Fears Survey by PwC. The survey shows that 26% of the global workforce is looking to change jobs in the next year, up from 19% in 2022.

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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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Friday Footnotes: Big 4 CEO Hype Songs; Tim Ryan Does Sit-Ups For Breakfast; SEC on SPAC | 6.30.23

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. The Market Accounting firms question the partnership model [ Financial Times ] Several US accounting firms have taken investments from private equity groups to pay for acquisitions.

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Deadline for MP Elite 2023 submissions extended

Accounting Today

Due to extensive interest, Accounting Today is extending the deadline for submissions for its annual Managing Partner Elite list to the end of the day on Monday, July 10.

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How the Automotive Industry Can Position Their Accounting and Finance Functions for Lasting Success

Cherry Bekaert

The automotive industry has been undergoing significant changes as it recovers from the global pandemic and adapts to emerging trends, new technologies and evolving consumer preferences. These changes can bring opportunities for companies to better align themselves within the market and their customers, but also can have implications for accounting and finance functions within the industry as well.

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Recruit, retain, repeat: Top tips for talent

Accounting Today

With the pipeline problem on everyone's mind, here are the most important strategies and approaches firms need to take to remain competitive.

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Environmental Considerations for Manufacturers: Minimizing Upstream and Downstream Waste Impacts

Withum

Manufacturers should embrace sustainable practices if they want to manage costs and prepare for the global challenges of climate change and environmental degradation. Waste represents a significant controllable cost to a company where the manufacturer buys expensive materials only to pay to have them disposed of in a landfill. With this in mind, manufacturers can also play a significant role in reducing their environmental footprint and mitigating the negative impacts of their operations while r

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New guidance on tax credits for clean energy projects

Accounting Today

The service posted a fact sheet Friday on tax credits for renewable energy projects under the Inflation Reduction Act.

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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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How To Manage Your Construction Company Payroll Effectively

Randal DeHart

Payroll is one of those things that starts simply enough. You start your construction business and hire a few employees, and things tick along. It's straightforward enough to keep everything in line at first, but what happens to most companies is… they grow! This is a great thing, but it also means that payroll becomes more complicated. As such an essential aspect of your business, payroll must run smoothly.

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The Technology Lab Podcast – Review of Audit Technology Trends – July 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, discuss technology trends for audits. Click here to visit the podcast page.

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Frequently Asked Questions About Salary and Dividends by Owners of Corporations

Ronika Khanna CPA,CA

As an accountant and small business financial consultant, one of the most common areas of confusion and questions by small business corporation owners revolves around how to pay themselves and if one way is preferable to another. I have addressed some of them in my blog posts on the factors to consider when choosing salary or dividends and the types of ways to structure your remuneration.

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Why your firm needs a Finance Director and why ESG is likely to be their responsibility

Menzies

Menzies LLP - A leading chartered accountancy firm. In a legal firm, the Finance Director would be responsible for overseeing the firm’s financial operations, including budgeting, forecasting, and reporting. They would also be responsible for ensuring that the firm is in compliance with all applicable financial regulations. Smaller firms may not have the need for a full-time FD but here are some specific examples of how an FD can benefit any legal firm: An FD can help a legal firm to devel

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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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Free CPE Webcast: Small Business, Big Benefits: Navigate Upcoming Retirement Plan Deadlines and New Tax Advantages

CPA Practice

Receive 1 hour of free CPE credit for participating in this live webinar Host: Patriot Software and Vestwell Date: July 12, 2023 Time: 2 p.m. (ET) Description: With the recent passage of new legislation known as “ SECURE 2.0 ,” tax credits for small business owners are significantly larger, meaning they can essentially start their company retirement plan for free.

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5 key challenges with RPA

Accounting Today

Robotic process automation carries many rewards, but a recent study has identified a handful of key risks that professionals must account for.

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Inflation Eases But Economy “Losing Steam”

CPA Practice

By Reade Pickert – Bloomberg News (via TNS). The Federal Reserve’s preferred measures of U.S. inflation cooled in May and consumer spending stagnated, suggesting the economy’s main engine is starting to lose some momentum. The personal consumption expenditures price index rose 0.1% in May, Commerce Department figures showed Friday. From a year ago, the measure eased to the slowest pace in more than two years.

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Why your company would benefit from an outsourced Finance Director

Menzies

Menzies LLP - A leading chartered accountancy firm. Most business owners have an accountant which they trust and rely on for advice, however sometimes that doesn’t give them the closer support they sometimes need. An experienced FD (financial director) will help them make better-informed decisions, drive efficiency and increase responsibility and accountability in the business.

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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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AuditFile Announces Integration With Microsoft Azure OpenAI Service

CPA Practice

AuditFile, Inc., developer of the award-winning cloud-based audit automation platform, has announced that an integration with Microsoft Azure OpenAI is generally available to AuditFile users. Tailored specifically for accounting professionals, this technology assists users in all attest areas. The integration enables auditors to leverage the power of AI to complete attest procedures, analyze large amounts of financial data, prepare financial statements, and aid in the assessment of risk.

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Cherry Bekaert Launches Employee-Led Non-Profit Foundation

CPA Practice

Cherry Bekaert has launched the Cherry Bekaert Foundation , a 501(c)(3) volunteer-based, employee-led philanthropic organization. The foundation was created last December with the mission of supporting and collaborating with organizations that align with the firm’s shared values, contributing impactful resources, and inspiring firm professionals to engage in their communities.

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IASB Seeks Input for Review of Accounting Standard on Revenue

CPA Practice

The accounting standard was developed jointly with the U.S. Financial Accounting Standards Board and came into effect in 2018. It was created to improve the quality and comparability of revenue information provided to investors globally. IFRS 15 introduced a comprehensive and robust framework for the recognition, measurement and disclosure of revenue that applies to a wide range of transactions and industries.

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Businesses Could Save Lots in Taxes Under House GOP Plan

CPA Practice

By Joy Taylor, Kiplinger Consumer News Service (TNS) Now that a debt default has been diverted, Republicans in the House of Representatives are turning toward taxes. They’ve laid down their opening marker. It can pass the House, but not the Senate. GOPers’ decision to pay for the cost of their plan by nixing some key green-energy tax breaks in last year’s Inflation Reduction Act is a nonstarter with Congressional Democrats.

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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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Southeast U.S. Sees Increase in Business and Wealth

CPA Practice

By Michael Sasso and Alexandre Tanzi – Bloomberg News (via TNS). Drive along the 240-mile stretch of the Atlantic coast from Charleston, South Carolina, through the grassy marsh land of southern Georgia and down into northern Florida, and you’ll see one of the most profound economic shifts in the U.S. today. Welcome to the New New South. Electric-vehicle factories and battery plants are overtaking pine forests in this region of antebellum architecture and shrimp and grits.

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Supreme Court Strikes Down Student Loan Forgiveness Plan

CPA Practice

By David G. Savage – Los Angeles Times (via TNS). The Supreme Court on Friday rejected President Biden’s plan to forgive millions of student loans, ruling the nation’s chief executive did not have legal authority to waive more than $400 billion owed to the government. The Biden administration had asserted its right to cancel the loans as part of its emergency response to the COVID-19 pandemic.