IgniteSpot
JUNE 14, 2023
Myth No. 1: Bookkeeping and accounting are the same. Fact: Bookkeeping shares some overlap with accounting but is a distinct role. In a perfect world, you should have both—plus a CFO and controller.
CPA Practice
JUNE 14, 2023
By Jeannie Ruesch. Imagine this: Your morning routine includes client consultations, processing a few bills for each of your clients via AP automation in just a couple of minutes, closing the books for one client, reconciling them for another. Then at lunch, you leave your home office behind and head out to Walt Disney World for the afternoon. And then imagine that this day is just one of many.
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Going Concern
JUNE 14, 2023
Some time back, KPMG UK released novel research that analyzed the career paths of more than 16,500 partners and employees at KPMG over a five-year period to discover that socioeconomic background, measured by parental occupation, had the strongest effect on how quickly an individual progressed through the firm. So if a KPMG employee’s highest earning parent was in a manual or blue-collar job when they were growing up, that person progressed more slowly through the ranks compared to peers w
CPA Practice
JUNE 14, 2023
Are you a small business owner who uses a personal vehicle—say, a passenger car, SUV or pickup truck—for extensive business driving during the year? If so, you may be entitled to favorable depreciation-related tax deductions, subject to certain special rules and limits, if you keep accurate and detailed records. It’s usually a good deal overall for taxpayers.
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.
Going Concern
JUNE 14, 2023
Indian media is reporting 25-year-old Prasad Navaneeth, formerly a senior associate at BDO USA’s growing India office BDO RISE, was detained for making a hoax bomb threat targeting his office at the RMZ Ecospace tech park in Bellandur. Several articles state that he’d been told to resign due to poor performance and that he refutes this claim, citing ‘office politics’ as the reason for his forced departure.
CPA Practice
JUNE 14, 2023
For many months, the American Institute of CPAs (AICPA) has expressed its concerns regarding the lowered Form 1099-K reporting threshold, which is in effect for 2023 but was originally set to take effect in 2022, noting that this change would lead to significant confusion in the tax system. With bipartisan concerns mounting about the $600 reporting threshold in effect for 2023, the AICPA has voiced strong support for House and Senate legislation that would raise the reporting threshold.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
JUNE 14, 2023
Transparency and accountability are the strongest indicators of ethical behavior by businesses, according to a new international survey conducted by Harris Poll on behalf of AICPA & CIMA. When it comes to specific business practices, however, the data reveals some generational differences. For example, Gen Z and Millennials say it’s even more crucial for companies to take meaningful, measurable action when faced with a dilemma.
Insightful Accountant
JUNE 14, 2023
Arc Business Management and National Xero Ambassador Tate Henshaw drills down on why it is time for you to open your mind up to new techniques to help your firm.
CPA Practice
JUNE 14, 2023
Summer is a wonderful time to update your firm’s recruiting marketing efforts because there are many opportunities to showcase employees, highlight your firm’s benefits, and demonstrate your firm’s community commitment through volunteerism. 7 Strategies to Prepare Your Recruiting Efforts However, taking the leap to find the staff you need requires preparation.
Withum
JUNE 14, 2023
Right now, there is probably no more frequently searched accounting topic by accounting and finance personnel in Fintech than CECL. What is CECL, you ask? (pronounced SEE-sil) CECL (Current Expected Credit Loss) is a new accounting standard that affects how companies account for credit losses. It requires companies to estimate the expected credit losses over the life of a loan or financial instrument at the time of origination or purchase and to reflect those losses in the financial statements.
Advertiser: Paycor
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.
CPA Practice
JUNE 14, 2023
The IRS and the Treasury Department on Wednesday issued proposed regulations and frequently asked questions regarding rules for applicable entities that earn certain clean energy credits and choose to make an elective payment election, as well as rules for eligible taxpayers that elect to transfer certain credits to unrelated parties. The Inflation Reduction Act, which became law in August, invests $369 billion toward tackling climate change through clean energy initiatives.
Withum
JUNE 14, 2023
The future of ESG disclosure reporting will no longer allow companies or consultants to cherry-pick or determine what ESG information is reported. Companies will have to disclose specific ESG information that regulators and accounting standards require. ESG reporting standards are transitioning from the wild west to ridged government and accounting-imposed standards.
CPA Practice
JUNE 14, 2023
While the FTC Safeguards rule designed to protect financial and PII (personally identifiable information) has been around for decades, as of June 9, 2023, compliance of various components including a Written Information Security Plan, or WISP, became mandatory! While primarily targeted at companies maintaining more than 5,000 client records (think tax returns), certain safeguard components are required for firms with less than 5,000 records, such as the use of multi-factor authentication, encry
Shay CPA
JUNE 14, 2023
Last summer, we talked about some best practices for a tech company’s expense policy. If you read it, it probably got your wheels turning. As it turns out, solid — and IRS-compliant — expense management means a lot more than cutting a check for the amount of the receipt your employee hands you. In last summer’s blog, we delved into how to build an expense report template, giving you a tool you can use with your team to track what they spend.
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.
CPA Practice
JUNE 14, 2023
The IRS and the Treasury Department proposed guidance on Wednesday for companies that elect to receive a direct payment in lieu of the tax credit for the manufacturing of semiconductor chips in the U.S. The Creating Helpful Incentives to Produce Semiconductors Act of 2022, commonly known as the CHIPS Act, allocated $52.7 billion in grants over the next five years to increase American semiconductor chip manufacturing, promote the building of new semiconductor manufacturing facilities in the U.S
Dent Moses
JUNE 14, 2023
The Alabama Legislature recently passed HB217 which was signed into law by Governor Ivy. The bill eliminates the 5% tax on overtime pay for a fixed period of time. Lawmakers believe the bill helps hourly workers and also employers by enticing employees to work overtime. Key Provisions: The bill exempts Alabama state tax withholding on overtime from January 2024 through June of 2025 – extension will require a renewal by lawmakers.
CPA Practice
JUNE 14, 2023
On June 21, 2023, at 1:00 p.m. CDT, LeaseCrunch LLC , will host a webinar called, “GASB 96 Survival Guide: Navigating the Maze of Compliance with Confidence.” This webinar taking place will offer an implementation road map to help participants navigate the complexities of GASB 96. Led by Jess Vento, senior director of accounting at LeaseCrunch, attendees will gain a deep understanding of the GASB 96 requirements and their impact on accounting for software through a combination of expert analysis
Withum
JUNE 14, 2023
Withum is proud to share that Robert Fried , Partner and co-founder of the Firm’s Theatre Industry Services Team, was awarded a Tony Honors for Excellence in the Theatre, celebrating his lifelong contributions to Broadway. Robert’s career spans over 30 years, in which he has served as an accountant, tax consultant and advisor to countless shows. He and his partner Karen Kowigos started their own firm in 2002, where they built a reputation of trust and excellence, providing the highest caliber
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
Cherry Bekaert
JUNE 14, 2023
In this episode, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contractor Industry practice, is joined by Brian Kirk , Senior Manager in the Firm’s Information Assurance & Cybersecurity practice, to discuss the impact of the Draft NIST Special Publication (SP) 800-171 Revision 3 on the Department of Defense’s (DoD) Cybersecurity Maturity Model Certification (CMMC) 2.0 program.
Summit CPA
JUNE 14, 2023
The Virtual CPA Success Show: Episode 82 Our host and Summit’s Director + VCFO, Jamie Nau, Adam Hale, Partner at Anders CPAs + Advisors, and Paul Rhea, Director + Strategic Growth at Anders CPAs + Advisors, debrief a trending topic in banking news, Silicon Valley Bank (SVB). They discuss the importance for businesses to remember the value of safety and diversification and the importance of diversifying funds and understanding the risk versus return.
Insightful Accountant
JUNE 14, 2023
How Rewind helped the Executive Geek make data loss a non-event for its non-profit clients.
CPA Practice
JUNE 14, 2023
The contribution limit for IRAs has been inching up in recent years. As a result, you may want to contribute to an IRA if your career is just getting off the ground or to supplement your 401(k) or other employer plan. However, be forewarned: You may not be able to—and probably can’t—deduct all of your IRA contributions for 2023. Nevertheless, you might decide to contribute to an IRA on a nondeductible basis.
Advertiser: Paycor
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.
Insightful Accountant
JUNE 14, 2023
NetSuite Account Reconciliation is built on Oracle technology to improve financial statement accuracy and expedite accounting period close.
Cherry Bekaert
JUNE 14, 2023
Contributors: Jennifer Moran, Manager, Audit & Attestation The Office of Management and Budget (OMB) released the 2023 Compliance Supplement (Supplement) in May of 2023. This version of the Supplement is effective date for fiscal years beginning after June 30, 2022. Below we highlight the most impactful federal program specific changes and changes in submission of your single audit results.
Insightful Accountant
JUNE 14, 2023
Murph takes you step by step through repairing the QuickBooks Application in the first part of his two-part series.
CPA Practice
JUNE 14, 2023
Import cargo volume at the nation’s major container ports is expected to be 22% lower during the first half of 2023 than the same time last year despite increased consumer spending, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates. The report comes amid disruptions at West Coast ports but the incidents have not yet been widespread enough to be reflected in nationwide data.
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