Mon.Sep 25, 2023

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Financial Reporting for Newly Funded Startups

BurklandAssociates

New investment brings new financial reporting requirements to keep your investors and board of directors updated and informed. The post Financial Reporting for Newly Funded Startups appeared first on Burkland.

Account 147
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Your Firm and Your Fall Game Plan

CPA Practice

A Top Technology Initiative Article. We had the good fortune of celebrating my Mum’s 100 th birthday recently. We asked about the changes she had seen and her key learning over those 100 years of life. She replied that she had learned so many things that it was hard to summarize just one. That’s when I realized what we needed to speak about in this month’s column.

Gaming 119
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Lee victims in two states get tax relief

Accounting Today

The IRS says taxpayers in Maine and Massachusetts who were hit by the hurricane now have until Feb. 15 to file and pay some taxes.

Tax 124
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Office Jargon No-Nos: Avoid Using These Nine Business Phrases

CPA Practice

By Christopher Zara, Fast Company (TNS) If you’re out of pocket, circling back, getting your ducks in a row, or worried about too many cooks in the kitchen, it might be time to stop drinking the Kool-Aid. Or to put it another way, please consider reducing your use of professional jargon around the office, as such language tends to annoy your colleagues and may have a negative impact on workplace inclusivity.

Start-ups 116
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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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How AI can help tax and accounting professionals attain their goals

ThomsonReuters

Jump to: AI for firms: operational improvements and new services AI for in-house departments: protect the business and enable growth Client communication benefits through AI AI for firms: operational improvements and new services One of the main benefits of AI is the potential to improve productivity and efficiency. According to the new report, “Future of Professionals”, 59% of tax and accounting professionals working at firms cited productivity as their top priority, and 55% selecte

Tax 104
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AICPA & CIMA Launch AI-Guided Tool for Students Pursuing Careers in Accounting and Finance

CPA Practice

AICPA & CIMA, which together form the Association of International Certified Professional Accountants, are rolling out Career Launchpad , an artificial intelligence-guided program for students interested in accounting and finance. The global offering provides valuable insights and guidance to kickstart careers within the profession. Career Launchpad offers AICPA & CIMA student members an opportunity to access real-world career stories, expert advice, and behind-the-scenes information fro

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Generational Slang Divide at Work Makes Communication More Difficult, Survey Finds

CPA Practice

By Michael Grothaus, Fast Company (TNS) If you sometimes feel like your older or younger co-workers are speaking another language, that’s because, well, they are. No matter your age, the generation you belong to has unique vocabulary—slang—that makes perfect sense to you but can leave others scratching their heads. And this generational slang divide is causing communication confusion in the workplace, according to a new report from the online tutoring company Preply.

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The state of accounting technology

Accounting Today

Technology expert Randy Johnston shines a spotlight on what accounting tech can do for you now — and what it's going to do for you in the future.

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IRS Gives Tax Relief to Those Affected by Hurricane Lee in Massachusetts and Maine

CPA Practice

The IRS on Monday announced that all individuals and business owners in Maine and Massachusetts now have until Feb. 15, 2024, to file their tax returns and make tax payments because of Hurricane Lee’s impact. The IRS is offering tax relief to any area designated by the Federal Emergency Management Agency (FEMA) , and all 16 counties in Maine and all 14 counties in Massachusetts qualify.

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Managing your firm's technology

Accounting Today

What are the absolutely essential considerations to bear in mind when building out an accounting firm's tech stack?

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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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7 Steps to Create a Culture that Attracts A-Players

CPA Practice

Building high-performing teams in a variety of industries has been the highlight of my career. I have learned plenty along the way about finding the perfect candidate for each unique role in each specific company that I’ve worked for. During my time as an executive recruiter, I have successfully placed hundreds of mid-level to C-level executives. However, it is building my own companies that has taught me the most about culture.

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Optimizing Timesheet Management for Your Business

Patriot Software

Time is money, and for small businesses, effective timesheet management can make all the difference. In this comprehensive guide, we’ll walk you through the strategies and tools that can help you take control of your timesheets and propel your business to new heights.

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How to Accurately Price Advisory Services

CPA Practice

By Sandy Petty, CPA, CGMA, PHR, SHRM-CP Determining the right pricing strategy for advisory services is a science and an art. It involves an understanding of your clients’ unique needs, the complexities of their business, the value your firm is offering and bringing to the table, and the competitive landscape. I want to dive into the essential aspects of pricing advisory services to help my tax and accounting peers navigate this crucial aspect of their practice.

audit 113
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Three payment trends accountants need to know

Xero

This guest blog was written by the team at the leading bank payment solution, GoCardless. With interest rates at the highest level since 2012 in Australia and costs rising across the board, it can feel like the macro environment is designed to dent you and your clients’ businesses. But it’s not all doom and gloom. As you’re at the centre of your customers’ financial processes, you’re in the perfect position to make strategic recommendations and add greater value to their businesses.

Account 88
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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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Xero Partners with PrimeGlobal

CPA Practice

Xero , the global small business platform, has signed a new three-year global agreement with PrimeGlobal to empower its member firms to adopt and use Xero’s cloud accounting solutions to help their clients grow and succeed. PrimeGlobal is an association of independent accounting and business advisory firms comprising more than 300 highly successful independent member firms across 112 countries.

Education 111
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The fundamentals of firm technology

Accounting Today

Thought leaders on accounting tech share just what tools and systems a practice has to have today.

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Five Tips for Giving Employees Gifts That Will Make a Difference

CPA Practice

By David Leeds. The holiday season provides an opportunity for companies to express gratitude and appreciation to their employees and customers. It’s a time to end the year on a positive note, strengthen relationships, and lay the foundation for a promising new year. However, as the saying goes, “It’s the thought that counts.” A poorly chosen gift can have unintended consequences, like leaving employees disappointed.

Education 111
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CPA Mobility: Separating fact from fiction

Accounting Today

Innovation is possible within the current framework, contends Blake Oliver.

CPA 118
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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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FTC Warns Five Tax Prep Giants About Possible Fines for Misusing Client Data

CPA Practice

The Federal Trade Commission (FTC) said on Sept. 18 it warned five tax preparation companies that they could face thousands of dollars in fines for using clients’ confidential data for purposes other than tax preparation, such as advertising. According to an FTC document , the five tax prep companies that were warned are: H&R Block Intuit TaxAct Tax Slayer The Lampo Group LLC d/b/a Ramsey Solutions “Consumers trust tax preparers with sensitive information about their finances, marital status

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R&D Tax Credit Proposed Major Changes for 2024

Withum

Major changes to the Research & Development (R&D) tax credit could be coming for tax years starting in 2024, as the IRS has proposed adjustments to Form 6765, “Credit for Increasing Research Activities”. Form 6765 is the form taxpayers attach to an original or amended federal tax return to report qualifying research expenditures (QREs) and their associated claim for the R&D tax credit.

Tax 76
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Professionals on the Move: Sept 2023

CPA Practice

Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession. TAG Alliances Welcomes Ray Polantz of Cohen & Company as New Advisory Board Member TAG Alliances, a leading multidisciplinary alliance of independent professional services firms, recently appointed Raymond Polantz, Tax Partner at Cohen & Company as its newest Advisory Board member.

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Art of Accounting: Your marketing sucks

Accounting Today

Good marketing ideas do not wither with age.

Account 122
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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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Monday Morning Accounting News Brief: UK Big 4 Firms Overhired, Dump Staff; KPMG Bracing For (Another) Big Fine | 9.25.23

Going Concern

Happy Monday, here we are again. Let’s dispense with the pleasantries and get to it. ICYMI: There’s more fresh news crammed into last Friday’s Footnotes. It’s a miracle we have so much going on this time of year. Financial Times writes about Big 4 firms dumping staff in the UK , “they’ve overhired”: When Deloitte cautioned staff earlier this month that it planned to cut about 800 jobs in the UK, it blamed slowing growth and economic uncertainty.

Account 62
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Boomer's Blueprint: Visioning lays the foundation for transformation

Accounting Today

The process requires time to think, plan and grow individually and as a firm.

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Constitutional Validity of Section 16(4) of CGST Act, 2017 is upheld

VJM Global

By Hon’ble Patna High Court In the matter of Gobinda Construction Vs Union of India through the Secretary (Patna High Court) (Civil Writ Jurisdiction Case No. 9108 of 2021) The Petitioner filed GSTR-3B for the month of Feb, 2019 and March, 2019 on 23.10.2019 and 07.11.2019 respectively. The respondent disllowerd the ITC claimed in GSTR-3B due to condition given under Section 16(4) of CGST Act, i.e., ITC can’t be claimed beyond the due date of filing of return for the month of September of follow

Tax 52
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SEC charges telecoms co. over disclosure failures

Accounting Today

GTT Communications self-reported that it has difficulty reconciling data from two different systems, and overreported its income as a result.

Account 68
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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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Completing a consumer law compliance checklist for your business

Reckon

Whether you’re starting out in the business world or find regular compliance confusing – everyone can deal with a solid self-assessment to take out the guesswork. No, we’re not talking about ATO compliance, such as taxes and payroll, we’re talking about consumer regulations and Australian Consumer Law (ACL) Without further ado – here’s a simple checklist, adapted from The Australian Consumer Law (ACL), (which applies to all States, Territories, and Australian businesses), to help you stay on top

Legal 52
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The Future of Professionals: How AI is the catalyst for reshaping every aspect of tax and accounting work

ThomsonReuters

Jump to: Key findings for tax professionals AI and internal efficiencies AI and role evolution AI and the tax profession The new Future of Professionals report examines how the combination of AI and human expertise will shape the roles, skills, and work of tax professionals in the future. The report is based on a survey of 1,200 professionals from North and South America and the UK.

Tax 52
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Case Study: Growing Healthcare Management Firm Implements Sage Intacct ERP to Optimize Scalability

Withum

Learn how Withum helped a healthcare client optimize realtime reporting, internal controls, scalability and automation while improving efficiencies within their finance department. Download a PDF of this case study. Executive Summary Withum’s CRM and ERP Consulting Services Team was engaged by a thriving radiology and vascular care business facing challenges associated with rapid growth.

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How AI can empower tax professionals to enhance their work-life and well-being

ThomsonReuters

Jump to: Building responsibly with intentionality and purpose Driving productivity and efficiency with AI Enhancing well-being and work-life balance with AI The new report “Future of Professionals” , evaluates how tax professionals perceive the current and future role of AI in their work, and how they plan to adapt and thrive in the era of generative AI.

Tax 52
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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.