Fri.Jul 14, 2023

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Accountancy websites don’t stand out from the competition

Accounting Insight

Almost three quarters of accountancy firms’ websites (72%) do not stand out positively from the competition, according to new research from Moneypenny and specialist marketing agency PracticeWeb. In a study of 50 accountancy websites belonging to large top tier, mid-sized and boutique accountancy firms, Moneypenny and PracticeWeb set out to understand the quality of the digital customer experience and where website improvements are required regarding findability, branding, the user experience

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Deloitte Just Admitted to Misusing Government Information à la PwC Tax Scandal

Going Concern

So the firms are up against the Australian Senate this week, answering uncomfortable questions about their inner workings all because one PwC partner couldn’t keep his mouth shut and blabbed confidential government tax intel back to the firm so PwC could make some money off of it. While that situation continues to destroy PwC’s reputation like a wrecking ball made out of solid gold dicks, it has also called into question the consulting industry’s grip on governments hence why t

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State Income Tax Challenges in a Technology World

Cherry Bekaert

Over the last few decades, the technology industry has been booming with new technology startups. Many of these startups are set up as pass-through entities (PTEs), which provide an easy conduit for one layer of flow-through taxation and often retain favorable exit opportunities from a tax perspective. As these startups grow and take on investors, it’s important that financial managers understand the state tax ramifications of growth.

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Tech News: KPMG to invest $2B in AI

Accounting Today

Plus, AuditFile relaunches Advantage Audit as AuditFile Advantage Audit AI; JustWorks releases JustPayroll; and other accounting technology news.

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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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Overcoming Cyber Risks of Financial Data Silos

Cherry Bekaert

Today, finance teams are faced with increasing pressure to protect financial data from cyberattacks and comply with evolving regulations. However, many businesses are still using outdated financial management tools and processes that create unnecessary risks. In this episode of Cherry Bekaert’s Digital Journeys podcast series, John Bartz , Strategic Alliances Director for Cherry Bekaert, and David Appel , Head of the SaaS Vertical for Sage, will discuss how to better protect financial data by

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IRS offers transition relief for RMDs

Accounting Today

The service plans to issue final regs related to required minimum distributions from retirement accounts in light of the SECURE 2.0 Act.

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More Trending

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Tax advisor to famous DJs charged with hiding $100M from IRS

Accounting Today

A Dutch tax advisor who had a client list of top DJs and fashion industry figures was arrested in Italy and extradited to the U.S.

Tax 98
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How to customize a Chart of Accounts for optimal financial reporting

Ronika Khanna CPA,CA

A chart of accounts is the structural framework for any business accounting system. It is analogous to a filing system. If you wanted to, you could dump all your documents into one giant file in your filing cabinet (or a file folder on your computer). Of course, if you did do it this way, you would likely have a hard time locating your documents. Alternatively, you could create a series of folders, based on an organization system that makes sense for you and your business.

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IRS plans improvements in tax pro accounts and new business online accounts

Accounting Today

The Internal Revenue Service is making progress on its modernization efforts after receiving billions in extra funding.

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Are you impacted by Pillar 2 and what should you do?

Menzies

Menzies LLP - A leading chartered accountancy firm. Groups that file annual Country by County Reporting (“CBCR”) returns or notifications should expect a letter from HMRC outlining an introduction to the new OECD Pillar 2 rules. What does this mean and how can businesses get ready? RECAP ON OECD PILLAR 2 The UK’s adoption of the OECD Pillar 2 rules, the Multinational Top-up Tax (MTT) and Domestic Top-up Tax (DTT), will apply to companies with accounting periods beginning on or after 31 December

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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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IRS expands assistance centers

Accounting Today

The agency is also planning in-person visits to help taxpayers in underserved areas.

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Minimising your business risk with ESG

Menzies

Menzies LLP - A leading chartered accountancy firm. With ESG strategies growing in significance, businesses can no longer ignore the importance of ESG to their business growth. Although there’s no necessity for SMEs to report on their ESG metrics like larger organisations, any business that embarks on an ESG journey could reap early benefits, such as increased staff retention, improved customer loyalty and reputation, and even a rise in profits.

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Case Study: Professional Services Firm Leverages AI and Automation to Streamline Contract Management Process

Withum

Learn how Withum helped a professional services firm leverage AI and automation to streamline their contract management process. Download a PDF of this case study. The Client A professional services firm based in the Northeast, with a strong nation-wide presence with a growing client-base. Background and Challenge The professional services organization received an overwhelming number of signed contracts and needed a way to approve and process them for invoicing.

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The Common Reporting Standard (CRS) and the J5

Menzies

Menzies LLP - A leading chartered accountancy firm. HMRC receives a vast amount of information from tax authorities around the world and then uses its supercomputer, Connect, to process that information and identify who to target with a tax investigation. The information received from HMRC’s global partners are the reason so many enquiry and compliance checks are opened.

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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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Spreading the cost of tax through pay arrangements with HMRC

Inform Accounting

Tax payments for the self-employed or those who declare their income under self-assessment are payable by 31 January and 31 July every year. Taxpayers who cannot pay by those dates have the opportunity to pay via HMRC's 'Time to Pay' scheme whereby HMRC agrees to a payment plan for unpaid tax spread over a longer period than would otherwise be available.

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Forensic accountants and a soap star's guardianship drama

Accounting Today

An actor alleged his sister misspent his money on herself while he was under her guardianship. She's hired an accountant.

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Friday Footnotes: EY Pulls Out of Winston-Salem; Clients Exposed in Data Breach; Deloitte Olympians | 7.14.23

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 Office Ernst & Young out of Triad market after closing Winston-Salem office [ Triad Business Journal ] The Triad now has offices for only two of the Big Four global accounting firms.

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On the move: FICPA appoints chief external affairs officer

Accounting Today

IIA appoints global board chair; Schneider Downs adds seven shareholders; and more news from across the profession.

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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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5 essential steps for scaling your firm

Accounting Today

To scale a firm, you have to rethink the way you offer your services.

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