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Why small CPA firms should care about fraud

ThomsonReuters

With the recent rash of public company fraud issues that were missed both internally and by external auditors, there has been a lot of negative news coverage for the accounting industry. But what does this mean for small CPA firms who don’t perform audits? In this episode of Pulse of Practice “Should a Small Firm Care?”,

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Australia is overhauling its payments systems – what does it mean for small businesses?

Reckon

Guest post blog by Novatti “Managing payments is at the heart of every small business, and the good news is that Australia is finally getting a makeover in modernising the country’s payment infrastructure and setting it up for the future,” says Kian Jackson, GM of Merchant Acquiring, Novatti.

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Top accounting issues in 2023

ThomsonReuters

The accounting profession has faced a profound shift in recent years: from significant regulatory changes to an influx of innovative technologies, to reimagined business models, to an increase in client expectations. What are the current issues in accounting? but there are several common hurdles that often run industry wide.

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Auditing in Accounting: What it is and how it works

ThomsonReuters

In addition to helping businesses and individuals follow the required accounting standards and tax laws, accountants are increasingly capitalizing on new ways to utilize their knowledge and experience to make a positive impact on the clients they serve. . How does it compare to traditional accounting services? Financial statements (i.e.,

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

A sales tax audit determines whether a business has collected and paid the correct amount of sales tax owed to the state for taxable transactions. If your business has been selected for an audit, consider using a specialist, such as a CPA, a sales tax expert, or a tax professional who specializes in state and local taxes (SALT).

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K-2 & K-3 Requirement Issues For Small Businesses

Nancy McClelland, LLC

Our original blog post is below, for context and reference.). In all seriousness, here’s the story: 1) The IRS, in an attempt to deter fraud, for 2021 began requiring all pass-through entities to disclose foreign transactions as part of the tax returns and the K-1 package to shareholders and partners. 1.861-9(g)(3)).

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Accounts payable automation: the ultimate game changer for accounting firms

Accounting Insight

Accounts payable automation, also known as AP automation or invoicing automation, is the process of automating accounts payable processes and activities while collecting the critical data required to make smart decisions, improve efficiency, and grow your business. How can AP automation streamline your accounting firm’s processes?