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Protect Your Startup’s Finances: 12 Proactive Risk Management Tips

BurklandAssociates

Mitigate financial risks at your startup and help ensure a smooth path towards sustainable growth and long-term success with these tips. The post Protect Your Startup’s Finances: 12 Proactive Risk Management Tips appeared first on Burkland.

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Next Generation FP&A with Acterys: 5 takeaways from the Workshop

Acterys

Acterys’ esteemed Italian partner, Bi Factory , recently hosted the “Next Generation FP&A” workshop on April 11, 2024. This event was specifically arranged for Italian organizations aiming to refine their planning and analytics processes. Featuring profound insights from industry experts at Bi Factory, including Franco Perduca (CEO and CTO), Sara Bozzo (CEO and Team Lead), and Walter Gabetta (Head of Global Business Relationship), the workshop attracted numerous companies a

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Sales Tax Updates: What’s new in sales tax for April?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Leveling the field. A bill that would raise the online sales tax in Alabama is progressing with state lawmakers. The current Alabama sales tax is 8% for online purchases, the same as for purchases at the state’s brick-and-mortar stores.

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95% of Small Biz Owners Happy with Company They Started

CPA Practice

Although many small business owners face continued economic uncertainty, their personal drive and long-term aspirations are buoying their optimism. That’s according to data from the third Amex Trendex: Small Business Edition, an annual survey commissioned by American Express. “Small business owners are concerned about issues like pricing and cash flow, but they are overwhelmingly happy that they chose their career path as an entrepreneur, and most intend to be small business owners for the long

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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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Let’s Brainstorm Shopping Ideas For Underwear Strong Enough to Accommodate This PwC CEO’s Massive Balls

Going Concern

It’s been a little over a year since Australian Financial Review uncovered a scandal when it peered underneath the rug PwC Australia was trying to hide its dirty business under, a scandal that saw a trusted partner using his position on a government tax panel to monetize confidential information that clients could use to get ahead of an upcoming change in tax law.

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Sikich gets $250M PE funding from Bain

Accounting Today

Sikich LLC, a Top 50 Firm based in Chicago, has snagged a $250 million minority investment from private equity firm Bain Capital to fund further acquisitions and growth, becoming the latest in a series of firms to score PE money.

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Insightful Accountant's Top 50 International ProAdvisors for 2024

Insightful Accountant

Insightful Accountant is proud to announce our Top 50 International ProAdvisors for 2024. Congratulations to this year's International award recipients.

Account 105
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How CPAs Are Evolving Into Strategic Advisors

CPA Practice

By Dr. Sangeeta Chhabra There is no question about how CPAs have evolved in their role over the past couple of decades, but what has really been behind it and, more importantly, how do you they get there? As the business world sees a paradigm shift in the form of technological innovations, global operations, and government regulations, traditional roles and responsibilities of professionals are evolving for the better.

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Note to Partners: Make Sure Your Interns and Associates Know How to Avoid Sus Links and Phishing

Going Concern

Remember the Deloitte survey a while back that found Gen Zers were more than twice as likely as boomers to have their social media account hacked * (17% vs. 8%) and three times more likely than boomers to fall for an online scam (16% vs. 5%)? A refresher: Deloitte Survey Finds Zoomers Are 3x More Likely to Fall For Scams Than Boomers So Why Don’t More of Them Work at Deloitte Today EY released the results of its 2024 Human Risk in Cybersecurity Survey and Gen Z workers who use work-issued

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PCAOB sanctions auditors over audit evidence

Accounting Today

The Public Company Accounting Oversight Board sanctioned three auditors from Florida accounting firm Liggett & Webb for violations involving audit evidence, professional skepticism, and other matters.

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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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How to Calculate Total Revenue in Accounting [With Examples]

Patriot Software

Keeping an eye on your business’s finances is oh-so-important if you want your company to thrive and grow. This includes monitoring your financial statements and calculating financial figures, such as total revenue. Get the lowdown on how to calculate total revenue and ways to use it to benefit your business. What is total revenue?

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May is Military Appreciation Month

Insightful Accountant

May is Military Appreciation month in the US and we at Insightful Accountant want to say "Thank You" to those who are serving or have served, and to their families for their service.

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IRS Issues FAQs on Disaster Relief For Retirement Plans and IRAs

CPA Practice

The IRS on May 3 issued frequently asked questions in Fact Sheet 2024-19 about a provision in SECURE 2.0 that provides special rules relating to distributions from retirement plans and IRAs and for retirement plan loans for taxpayers impacted by federally declared major disasters. Prior to the changes made by SECURE 2.0, which was enacted in December 2022, there was no disaster relief allowing these distributions and loans that applied generally for all major disasters.

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4 Accounting Transactions that Use Journal Entries and How to Enter them in QBO

Ronika Khanna CPA,CA

Accounting software has come a long way in the past few years. Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax. When using accounting software such as Quickbooks Online , the majority of transactions relate to invoicing customers, supplier bills and categorizing expenses that ha

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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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CLA acquires AI company Engine B

Accounting Today

CliftonLarsonAllen, a Top 10 Firm, has acquired Engine B, a London-based company that helps accounting firms get more insights from their clients' data, effective May 1.

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Real Accounts: What to Know About These Permanent Accounts

Patriot Software

In accounting, you deal with a variety of accounts to balance and organize your books. One type of account you will likely run into is a real account. But, what are real accounts exactly? And, how does it differ from other accounts in accounting?

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"Thank You" Intuit Trainer/Writer Network Members

Insightful Accountant

While Intuit has sunset the Trainer/Writer network and gone back to the drawing board on how to provide training and education for the QuickBooks Community, Insightful Accountant wants to thank all Trainer/Writer Network members.

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Three Workarounds for the Cap on SALT Deductions

CTP

When the Tax Cuts and Jobs Act of 2018 introduced a new $10,000 cap on state and local tax (SALT) deductions, taxpayers living in areas with high state-level taxes felt the hit. Highly-impacted states like California, Connecticut, Illinois, New Jersey, New York, or Pennsylvania quickly began searching for ways to provide relief to their taxpayers. Only individual taxpayers filing itemized deductions Schedule A are affected by this limitation.

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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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How to Change Your Personal Tax Return After It Has Been Filed

Ronika Khanna CPA,CA

Despite your (and/or your accountants’)best efforts , occasional errors or omissions relating to your personal tax return are unavoidable. It is possible that you forgot to include a tax slip, overstated your expenses or was unaware of a specific tax credit. Luckily there is fairly simple mechanism that allows you to change your tax return, which can either be done online or by filling out a form and mailing it in.

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6 ways to use AI in your firm

Accounting Today

They say artificial intelligence will change the world, and in many ways, it already has. But AI's rapid advancements have been a source of stress for professionals like accountants. Will you be automated out of a job?

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Types of Audits: Breaking Down 9 Different Audits

Patriot Software

As a small business owner, you need to conduct regular audits to ensure your records are accurate. Although many business owners dislike the idea of auditing, audits can be beneficial to your company. Learn more about the different types of audit below.

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Getting to Know QuickBooks Desktop Alternatives

Insightful Accountant

During the upcoming Insightful Accountant Future Forward Event Murph will be presenting two sessions on Migrating from QuickBooks Desktop. One focuses on apps suitable for QBD Pro users, and the other QBD Premier users.

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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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Wolters Kluwer to Add New AI Features to Tax and Accounting Systems

CPA Practice

Wolters Kluwer Tax & Accounting (TAA), a global leader in professional information, software solutions, and services, today announced plans to deliver new AI-enabled capabilities to tax and accounting professionals, as part of its innovation strategy centered on firm intelligence. TAA’s leveraging of advanced, proprietary technologies that incorporate AI and GenAI will equip tax and accounting professionals with the efficiency, information, and insights needed to drive value for their clien

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Deloitte’s New Olympics Campaign Inadvertently Reminds Everyone They’re First in Revenue

Going Concern

h/t Consulting.com.au Deloitte Digital, in partnership with the International Olympic Committee (IOC), has produced a video to get everyone excited about the 2024 Summer Olympics in Paris and remind us why Deloitte was chosen to be Flavor Flav to the IOC’s Public Enemy. GET HYPED. Highlighted in the video are Sarah Attar, Saudi Arabia’s first female Olympic athlete; Natalie Du Toit of South Africa, the first amputee to compete in Olympic swimming; Abdellatif Baka, a visually impaired

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Making the (use) case for AI

Accounting Today

Accounting firms that have embraced artificial intelligence are primarily using it to analyze documents, automate tasks and bolster client communication.

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How to Create a Prepaid Expenses Journal Entry

Patriot Software

Do you ever pay for business goods and services before you use them? If so, these types of prepaid expenses require special attention in your books. You need to create a prepaid expenses journal entry. So, do you know how to record a journal entry for prepaid expenses? Don’t panic if you don’t.

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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.

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What Auditors Do

Withum

In two weeks, I will be teaching a graduate course on audit concepts and methods to accounting students at Fairleigh Dickinson University. I’ve taught this previously and certainly know the material. However, my role is not just to teach the material but to excite them about accounting as a profession and auditing in particular and share my pride in the vital role auditors play in our ecosystem.

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How to Get Things Done When You Feel Overwhelmed

Insightful Accountant

Tax pros post-tax season: vacation or dive into to-do list? Heavy workload can overwhelm, hindering productivity. Strategic techniques help navigate overwhelm efficiently and reduce stress.

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Imagine the Chaos If the PCAOB Starts Naming and Shaming Audit Deficiency Clients

Going Concern

In its desperate quest to appear as though it does something of value to capital markets, the PCAOB is considering putting company names to inspection report deficiencies according to a recent story by Wall Street Journal. Currently, the PCAOB refers to clients as Issuer A, B, C etc. and includes only the client’s industry. Here’s an example from KPMG’s sketchy 2022 PCAOB inspection report : A Part IA deficiency like the one in the screenshot above is of such significance that

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A CPA's day in Tax Court

Accounting Today

For CPAs who aspire to practice in Tax Court, the ability to review a case that has been litigated by a fellow CPA is a useful educational tool.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.