CPA Practice

JULY 31, 2023

In today’s globalized world, offshoring and outsourcing have become prevalent strategies adopted by CPAs, accounting, and tax firms to optimize their operations, minimize expenses, and tap into specialized expertise. Here are the 20 essential offshoring and outsourcing best practices that accounting and tax firms should know and implement.

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Tax Account accountant accounted 98

CPA Practice

MAY 22, 2023

Have all your personnel participated in a focused firm security briefing in the past twelve months? If not, it’s time to conduct one as it is not only a good practice but is required for any individual or firm that electronically file tax returns. Good Firm Practices. First things first. ChatGPT, Bard).

tax preparation 105

tax preparation Technology Education accounting firms 105

ThomsonReuters

APRIL 5, 2024

Businesses that do not have sound tax provision processes are at an elevated risk of damaging their company’s financial health. By understanding the significance of interim tax reporting and following best practices, businesses can effectively navigate this process. Why is interim reporting important?

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Tax income tax financial statements accounting standards 68

Cherry Bekaert

APRIL 6, 2023

With SFFAS 54, Leases, effective for fiscal years beginning on or after October 1, 2023, federal agencies should consider their implementation process. Webinar: Introduction to the Federal Leasing Standard SFFAS 54 View All Podcasts in this Series Questions?

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Government Account accountant accounted 73

Cherry Bekaert

MAY 23, 2023

In today’s digital age, it’s imperative to manage your organization’s data for policies, procedures and best practices to maintain the system integrity and performance. Contact Us The post Data Management Best Practices for Financial Institutions appeared first on Cherry Bekaert.

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Government Technology Account accountant 52

Cherry Bekaert

APRIL 19, 2023

We guide contractors in developing and maintaining compliant Business Systems, performing systems assessments, providing audit support and preparing contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.

audit 74

audit Government accounting system Account 74

CPA Practice

APRIL 19, 2024

Unlike the old days when public practice CPAs rarely spoke to anyone but clients and other team members during tax season, it is evident that CPA firms have become year-round businesses. And yes, many say compliance work is going away, but ask if that is true for your practice. Further, extension season for some firms is busier.

Technology 72

Technology cpa firm CPA Non-Profits 72

Cherry Bekaert

NOVEMBER 17, 2023

GSP engaged Cherry Bekaert’s Digital Advisory and Risk & Accounting Advisory practice to be their reliable one-stop tech shop for all their technology needs. In addition, we employed best practices to improve their security posture and reduce risk, particularly for their U.S.

Manufacturing 52

Manufacturing Technology E-commerce accounting and finance 52

Withum

APRIL 27, 2022

The accounting system is the basis for reports that must be provided to grant agencies, prospective donors, lenders, its independent auditors, tax preparers, the Board of directors and management. . Training and adopting best practices will help alleviate these issues. .

general ledger 119

general ledger audit auditor accounting and finance 119

ThomsonReuters

JANUARY 12, 2023

Thanks to advancements in technology — such as cloud-based solutions, teleconferencing, data-sharing platforms, and drones with cameras — remote audits are possible as long as the right tools and policies are in place. . How do you develop a remote audit policy? When developing a remote audit policy , factors to consider include: .

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audit auditor Technology Account 52

Shay CPA

MARCH 13, 2024

Some spreadsheets and a few dedicated hours each month might be enough to keep your books sorted. More clients mean more to process in accounts receivable, and the vendors you need to serve them mean more accounts payable, too. Everything finance-related in your business falls on their desk.

accounting and finance 52

accounting and finance Finance payroll tax payroll 52

Withum

APRIL 2, 2021

Have a Shoplifting Policy and Procedures in place to provide guidance to employees on the following: How to identify suspicious customers or shoplifters? What procedure to follow if a shoplifting event occurs? Train new hires on all policies and provide annual training to existing employees. OWNER/ STORE MANAGER.

Retail 94

Retail general ledger accounts payable payroll 94

Airbase

OCTOBER 25, 2023

If any finance process is overdue for innovation, it’s procurement. But what do these recent innovations mean for mid-market companies on a practical level? Schedule a demo Learn how Airbase can transform your entire purchasing process. This left this segment underserved and exposed to risk and unnecessary costs.

accounts payable 130

accounts payable AP Automation Approval Workflows Technology 130

MineralTree

MARCH 14, 2024

However, many companies still rely on manual processes to manage accounts payable—and these outdated practices are causing problems across their financial operations. A manual approach slows down the payment process and increases the risk of errors and fraud while jeopardizing relationships with strategic vendors.

accounts payable 52

accounts payable AP Automation AP Processes Account 52

Accounting Insight

AUGUST 3, 2022

This assesses how their anti-money laundering programme is functioning in practice and how the policies, procedures and controls in place are mitigating the money laundering and financing terrorism risks identified by that business. With that said, here are the common pitfalls accountants face when undergoing an AML audit.

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audit accounting and finance Education Finance 52

CPA Practice

MARCH 5, 2024

Unlike the old days when public practice CPAs rarely spoke to anyone but clients and other team members during tax season, it is evident that CPA firms have become year-round businesses. And yes, many say compliance work is going away, but ask if that is true for your practice. Further, extension season for some firms is busier.

Technology 64

Technology cpa firm CPA Non-Profits 64

Snyder

JUNE 22, 2022

As your online store grows and attracts more customers, so does the risk of facing Stripe disputes. Disputes can lead to discrepancies and add more challenges to your accounting routine. This article will help you get prepared for Stripe disputes and keep your business losses to a minimum in a worst-case scenario.

E-commerce 96

E-commerce accounting system Account accountant 96

Withum

MARCH 29, 2023

Whether you are pursuing a new contract or have extensive experience in the industry, having the proper contractor business systems in place can ensure that your business is on the path to profitability and compliance. Furthermore, it is critical to consider how management assesses and monitors potential risks.

Non-Profits 69

Non-Profits Government accounting system accounting standards 69

inDinero Accounting

APRIL 6, 2023

“Cash is king,” as the saying goes, and accounts receivable turnover plays an essential role in keeping the cash flowing. Knowing how to measure and monitor your accounts receivable turnover ratio can help you ensure that you’re getting paid on time and improving your cash flow.

Account 52

Account accountant accounted Sales 52

Withum

FEBRUARY 7, 2022

An effective Risk Management Plan ideally considers multiple controls and intertwining processes that produce a system that doesn’t stop learning. Ideally, risk management is an iterative process that follows a framework that establishes best practices at all seniority levels.

Management Consulting 100

Management Consulting Technology Account accountant 100

ThomsonReuters

FEBRUARY 1, 2024

Jump to: What are the GAAP accounting rules? Therefore, it is critical that organizations use standardize d accounting practices when reporting financial information to ensure the information is transparent, consistent, and comparable. Enter Generally Accepted Accounting Principles, more commonly known as GAAP.

Non-Profits 52

Non-Profits accounting standards Maine accounting and finance 52

Snyder

NOVEMBER 14, 2022

This article will discuss some ways how your company can take advantage of tools to make expense management simple and easy. This article will discuss some ways how your company can take advantage of tools to make expense management simple and easy. If you’re unfamiliar with tools and practices, then let’s jump right into it!

Expense Management 52

Expense Management bookkeeping Technology accounting and finance 52

Going Concern

DECEMBER 15, 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. million over its failure to prevent cheating on internal exams.

audit 98

audit Technology accounting and finance Legal 98

ThomsonReuters

APRIL 18, 2023

Therefore, preparing financial statements that are in compliance with generally accepted accounting principles (GAAP or U.S. GAAP) is paramount for accounting professionals and all of those involved in financial reporting. GAAP) is paramount for accounting professionals and all of those involved in financial reporting.

accounting principles 52

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inDinero Accounting

APRIL 6, 2023

“Cash is king,” as the saying goes, and accounts receivable turnover plays an essential role in keeping the cash flowing. Knowing how to measure and monitor your accounts receivable turnover ratio can help you ensure that you’re getting paid on time and improving your cash flow.

Account 52

Account accountant accounted Sales 52

ThomsonReuters

JANUARY 12, 2023

Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. While ESG audits are not consistently practiced within and across jurisdictions, various audit standards are being used on engagements. One of these specialties is ESG audits. .

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audit auditor Technology Government 52

ThomsonReuters

MARCH 16, 2023

Compliance audit: T his type of audit is most often conducted within regulated industries and educational institutions and is an examination of the policies and procedures of an entity or specific department, to see if it follows internal or regulatory standards. There are two forces within an audit team: senior staff and junior staff.

Technology 59

Technology audit auditor Maine 59

PYMNTS

FEBRUARY 4, 2019

FIs have made strides in establishing know your customer (KYC) and anti money laundering (AML) policies, but these changes are routinely challenged by emerging technology and cross-border transaction costs. One of the problems that AML/KYC procedures face is lack of standardization. A DIY Approach To AML/KYC.

Technology 64

Technology Government Account accountant 64

ThomsonReuters

JANUARY 16, 2024

How mobile apps meet client expectations Streamlining your 1040 source document collection According to a recent survey by Protiviti and The Institute of Internal Auditors (IIA) , almost 75% of respondents, including 82% of technology audit leaders, view cybersecurity as a high-risk area, and with good reason.

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audit auditor Technology Construction 64

ThomsonReuters

FEBRUARY 23, 2024

Broadly speaking, proactively preparing for a sales tax audit means implementing a series of best-practices to reduce (if not eliminate) errors in the first place. The best audit defense is to make sure all taxes have been accurately reported and paid on time. How can tax technology help when defending an audit?

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audit Sales Tax auditor 52

ThomsonReuters

SEPTEMBER 18, 2023

Jump to: Laying the foundation for remote audit work Tools that enable remote audit work Maximizing remote audit capabilities Like many facets of tax and accounting, auditing has undergone a significant transformation in recent years driven by rapid advancements in technology. But, if done well, the benefits certainly outweigh the costs.

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audit auditor Technology financial statements 52

Anders CPA

JUNE 29, 2023

Ignorance of security vulnerabilities in your plan is no excuse if the worst-case scenario occurs and plan participants have funds stolen from them. Even if it takes a hacker 500 attempts, a single success is all it takes to clean out a participant’s account of all the funds they accumulated.

audit 52

audit CPA accounting and finance payroll 52

ThomsonReuters

NOVEMBER 17, 2022

It takes time, dedication, expertise, and technology—and, done correctly, is an ongoing, ever-evolving practice, not an occasional check-in. But maintaining effective due diligence in a complex supply-chain is no easy task. A few key factors are driving this trend: In June 2022, the U.S. The challenge of visibility.

Technology 59

Technology Government Manufacturing audit 59

Snyder

DECEMBER 16, 2022

Since the company’s beginning, we’ve been focusing on implementing the best data security practices to ensure that your data is safe with us. In the current landscape, sensitive customer information is exchanged in every digital interaction across your organization and third parties. What is a SOC report? What is SOC 2?

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audit auditor public accounting Maine 52

Cherry Bekaert

APRIL 3, 2023

Growing Your Business Starts With Evaluating, Governing and Managing Risk Author: Brian Murrow, Managing Partner – Risk & Accounting Advisory Services Naturally, after unfortunate incidents, risk governance and security are on top of mind for many. Addition of risk protection through other regulators, such as the U.S.

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financial statements audit accounting and finance auditor 75

Menzies

NOVEMBER 2, 2023

Menzies LLP - A leading chartered accountancy firm. This article explores 4 common challenges and discusses practical suggestions for how these might be navigated. Valuations included in annual statutory accounts can be left open to challenge. Challenge No. Challenge No.

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audit Non-Profits Technology payroll 59

CPA Practice

APRIL 11, 2024

Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab sponsored by CPA practice advisor with your hosts, Randy Johnston, and Brian Tankersley. Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab sponsored by CPA practice advisor with your hosts, Randy Johnston, and Brian Tankersley.

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Technology Account accountant accounted 64