Accounting Today

SEPTEMBER 25, 2023

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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Ryan Lazanis

SEPTEMBER 27, 2023

If you’re a CPA firm looking to outsource your bookkeeping, you’ll want to check out this post on the 7 different options for outsourced bookkeeping for CPAs. In this article, I’ll run through some of the more modern options that might make the most sense for your firm at the moment. Check it out: Outsourced Bookkeeping for CPAs Terminology Before continuing, there are 3 terms that I want to briefly define which will have an impact on the option you select.

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BurklandAssociates

SEPTEMBER 25, 2023

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.

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TaxConnex

SEPTEMBER 26, 2023

The short answer: Maybe not. Let’s look at a few factors that could make relying solely on an eCommerce platform for your compliance risky for your company. A complex environment Economic nexus. The 2018 Supreme Court decision in South Dakota vs. Wayfair opened the floodgates for economic nexus throughout the U.S. In almost all states now, any derived revenue for your company will create nexus for the company making that revenue ($100,000 revenue or 200 transactions in a year, for instance).

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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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Acterys

SEPTEMBER 25, 2023

Most businesses would benefit from better financial planning and analysis (FP&A), whether it’s through extended planning horizons, more frequent updates or taking a different approach to planning. Over 60% of organizations plan to make changes to their FP&A , according to Deloitte’s global planning and budgeting survey. Microsoft Power BI can simplify the financial reporting process, but it’s not an out-of-the-box solution for every need.

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TaxConnex

SEPTEMBER 28, 2023

You’ve learned what states you have nexus in and you know where your products/services are taxable. Now it’s time to register with the states to collect and remit sales tax. Where to begin? You complete your sales tax registrations and file them with the departments of revenue or taxation in each state. These registrations are called sales tax permits, sometimes licenses.

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Cherry Bekaert

SEPTEMBER 26, 2023

The Federal Acquisition Regulation (FAR) doesn’t provide many details on the specifics related to an adequate timekeeping system. However, the Defense Contract Audit Agency (DCAA) does have some specific requirements they look for when performing accounting system audits and labor floor checks. In this episode of Cherry Bekaert’s GovCon Podcast, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa , a Senior Manager in the F

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Going Concern

SEPTEMBER 25, 2023

This stock photo is incredible. It really has nothing to do with the post, just needed an excuse to use it. It’s been a while since we’ve done an Accountants Behaving Badly megapost ( 381 days ago , actually), here’s some bad behavior you may have missed. As usual, it’s mostly terrible controls and the resulting embezzlement, this time there’s also a pervert in here so that’s something different.

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Accounting Today

SEPTEMBER 25, 2023

Good marketing ideas do not wither with age.

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Airbase

SEPTEMBER 27, 2023

Procurement plays a pivotal role in cost management, risk mitigation, and financial performance. But until recently, many organizations struggled to define their processes and find the right tools to manage procurement. Let’s take a look at the basic elements of procurement, and how different organizations and systems approach this vital function. What is procurement?

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Withum

SEPTEMBER 29, 2023

Did you know that 2023 marks the 20th year of Cybersecurity Awareness Month? Since 2003, we have seen the dramatic evolution of cyberattacks. Despite all the technological advances, the same cyber threats are still at play today. These include ransomware , phishing and business email compromise. Hackers are still trying to steal data, disrupt businesses and even harm physical safety.

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Going Concern

SEPTEMBER 29, 2023

Ed. note: enjoy some wisdom from a profession OG in this guest post from Blake Oliver. TLDR: Patience, intellectual curiosity, soft skills, and time management will take you far. Most importantly, advocate for yourself. Different generations in the workforce often struggle to understand each other. But experts say one thing that young professionals can do, including young accountants, is to be more patient.

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Accounting Today

SEPTEMBER 29, 2023

The Internal Revenue Service is allowing tax practitioners to see their client's tax information, including balance due amounts, as well as withdraw from their active authorizations online in real time.

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CPA Practice

SEPTEMBER 29, 2023

By Chelsea Hylton, Los Angeles Times (TNS) It seems like news about Shakira just doesn’t stop. This time the Grammy-winning artist is being charged by Spanish prosecutors for tax evasion. Prosecutors claim she failed to pay $7.1 million in taxes in 2018, according to the Associated Press. She is also being accused of using an offshore company to avoid paying taxes.

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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.

Withum

SEPTEMBER 28, 2023

Tax Planning Checklist for New Law Firm Partners Understanding the intricacies of tax planning is essential for optimizing your financial position and ensuring compliance with relevant regulations. Utilize this Tax Planning Checklist to help navigate the complex landscape and maximize your tax benefits. Download The post From Associate to Partner: How Do Lawyers’ Taxes Change?

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Going Concern

SEPTEMBER 27, 2023

Once again @profjackc has tweeted a very important reminder for current CPA exam candidates and once again we’re here signal boosting said reminder because it’s important information. If you are a first time BEC section exam candidate most states will stop processing your NTS after next Monday, Oct. 1. Do not delay! Get in your BEC NTS ASAP.

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Accounting Today

SEPTEMBER 26, 2023

In the context of accounts payable, generative AI can create text-based documents, such as invoices or purchase orders, by analyzing patterns and information from historical data.

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accounts payable Account accountant accounted 120

CPA Practice

SEPTEMBER 27, 2023

For accounting firms, automation gathers scattered information and turns it into valuable insights. It increases productivity and empowers firms to better advise their clients by putting the right data into the right hands at the right time. So, it should come as no surprise that firms using technology and software to streamline certain practices and processes are reaping the growth and financial benefits of automation.

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accounting firms Technology Gaming accounts payable 122

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

Technology

Cherry Bekaert

SEPTEMBER 29, 2023

The Employee Retention Credit (ERC) was created to reward companies that continued paying employees when operations were negatively impacted by the COVID-19 pandemic. It is a proven program that helps companies recover from the negative impacts of the pandemic on their business, even when ERC refund claims are filed today. The Internal Revenue Service (IRS) released new guidance for how employers may or may not have been impacted by supply chain disruptions during the pandemic.

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audit Tax Government 110

Going Concern

SEPTEMBER 29, 2023

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. CPA Exam Friendly reminder, deadlines to apply for BEC before the new exam in 2024 are quickly approaching.

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Accounting Today

SEPTEMBER 27, 2023

The American Institute of CPAs expressed strong support for bipartisan legislation that would establish the accounting profession as a STEM career pathway.

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CPA Practice

SEPTEMBER 26, 2023

By Dave Charest. Small businesses (SMBs) are a busy bunch. On any given day, they might be fulfilling orders, engaging with customers in-person, managing staff, doing their books — plus dozens of other tasks. Most would relish an opportunity to gain back an extra hour, or save some extra money. Luckily, those goals (and others) are attainable thanks to artificial intelligence (AI) and marketing automation.

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Finance

Cherry Bekaert

SEPTEMBER 27, 2023

Continuous improvement can be defined as organizational efforts to enhance systems, processes, products or services. It involves identifying inefficiencies, assessing existing methods and transforming business strategies to achieve better outcomes. In this episode of Cherry Bekaert’s Digital Journeys podcast series, Jim Holman , Director and Strategy & Operations Leader, and Steve Holliday , Director of Digital Advisory, discuss the importance of implementing a practice of continuous impro

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Going Concern

SEPTEMBER 26, 2023

Fresh off the PCAOB’s published naughty list, BDO USA and partners Kevin Olvera and Michael Musick got sent to the punishment corner for violations of PCAOB rules and audit standards in connection with the audit of AAC Holdings, Inc. (“AAC”) for 2017. Specifically, audit partner Olvera failed to properly evaluate three significant estimates that AAC used to value substantially all of its client-related revenue and accounts receivable and Musick, who was not the engagement partner but someh

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Accounting Today

SEPTEMBER 27, 2023

The Internal Revenue Service and the Treasury Department released information on two energy-related tax breaks under the Inflation Reduction Act.

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CPA Practice

SEPTEMBER 28, 2023

Many accountants begin as solopreneurs but eventually want a reliable team. So, how can you make this transition smoothly without overwhelming yourself or your clients? On a recent Grow & Scale webinar, I spoke with Nicole Davis, CPA , who went through this process building her firm, Butler-Davis Tax & Accounting. She shared strategies with our audience that helped her go from solo to having a team.

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Advertiser: Paycor

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Cherry Bekaert

SEPTEMBER 29, 2023

No matter the industry, your daily job is important. You deliver valuable products and services to your market, impacting those who depend on you. Whether you offer a broad range of services to the worldwide community or specific programs to a targeted local group, clarity of your true costs on a unit-by-unit basis is critical to ensure sustainability, maximize impact and create internal efficiencies.

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Canopy Accounting

SEPTEMBER 24, 2023

If you are looking to start offering tax resolution services, there’s a few things you’ll need to take care of first. One of those things is getting a CAF Number. We’ll walk you through that process here.

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Accounting Today

SEPTEMBER 28, 2023

The standard reflects the many changes in technology, communications and business practices since an interim standard was first adopted decades ago.

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CPA Practice

SEPTEMBER 25, 2023

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.

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"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.

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