Wed.Aug 23, 2023

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Three Ways Outsourced Accounting Can Streamline Nonprofits

CPA Practice

By Jennifer Arbore. From perfecting the art of virtual fundraising and volunteering to implementing fresh social media strategies, creating innovative donor retention programs and driving their missions forward despite a myriad of ongoing global challenges, today’s nonprofits are dealing with a complicated and quickly evolving landscape. That’s why operations need to be as simple as possible.

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AI risk concerns don't stop people from trusting AI

Accounting Today

While people seem to have concerns about the rise of generative AI and the risks it presents, people are still using it and trusting its answers.

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CPA Exam Changes and Pipeline Woes Are a Perfect Storm of Problems For the Profession

Going Concern

Ed. note: The following is a guest post by Liz Kolar, EVP at Surgent. It is of particular interest to professors, accounting department chairs, other assorted academics, and any accounting profession meteorologists who are tracking the perfect storm of pipeline problems and a completely revamped CPA exam debuting in just a few months. Comments from all perspectives are welcome.

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New rules require audits for private equity and hedge funds

Accounting Today

The Securities and Exchange Commission adopted new rules and amendments aimed at tightening the regulation of private fund advisors.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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That’s a wrap! Xerocon Sydney highlights from day two

Xero

It was great to see so many new and familiar faces from Xero’s accounting and bookkeeping community at Xerocon Sydney 2023. As always, day one featured a packed agenda – and you better believe the pace didn’t let up on day two. Sharing insights and inspiration We had another busy morning on the main stage. The day kicked off with a moving welcome from Te Raranga Whanui Kapahaka group, followed by an insightful conversation between Xerocon host Julia Zimero and Xero CEO, Sukhinder Si

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What will it take for AI to transform accounting? Human intelligence

Accounting Today

There are several compelling reasons why the future of finance requires organizations to strike a balance between both human and machine-driven intelligence.

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The Technology Lab Podcast – Accounting Automation with Guest Jason Richelson of Bookkeep – August 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, discuss accounting automation tech with the co-founder of Bookkeep , Jason Richelson. Use the podcast player below to listen.

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FASB releases standard on joint ventures

Accounting Today

The board finalized a new standard aimed at providing more useful information on a venture's financial statements and curbing differences in reporting practice.

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PwC UK Partners Will Not Be Celebrating Record-Breaking Million Dollar Payouts This Year

Going Concern

Last year, 950 PwC UK equity partners were treated to record-breaking £1 million pound ($1.2 million) payouts, effortlessly beating the 2020 high of £868,000 and quite a leap from £765,000 in 2019. Sadly for them they won’t be cruising right past a million this year. Reports The Guardian : More than 1,000 partners at the UK division of the “big four” accounting firm PwC will be paid £906,000 this year, a slight fall on last year’s record payout as profits fell despite rising revenues.

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Vanguard's tax-busting fund design getting a revamp

Accounting Today

Distinct tax treatments have historically separated the ETF and mutual fund categories, with the former able to avoid capital-gains levies.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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SEC Announces New Anti-Money Laundering Requirements for Broker-Dealers in Risk Alert

Withum

On July 31, 2023, the U.S. Securities and Exchange Commission published a Risk Alert to their broker-dealer members regarding Anti-Money Laundering (AML) compliance examinations and related issues. The Division of Examinations’ Risk Alert reiterated the need for registered broker-dealers to establish and maintain sound AML programs for each firm designed to mitigate risks in the financial system.

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Tax Partner Matters More Than Firm on Business Taxes

CPA Practice

When it comes to a corporation’s relationship with its accounting firm, the firm itself is less important than the partner who leads its engagement team in lowering its tax rate, according to a new study from Iowa’s Tippie College of Business. The study found that the partner has twice as great an impact on the firm’s cash effective tax rate than did their firm.

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My 9 Favorite Ways to Prevent Scope Creep

Ryan Lazanis

As new ideas and features emerge, it’s all too easy for the initial project boundaries to expand far beyond their intended limits. In this episode, I discussed nine key strategies that I have tested in the field to effectively prevent scope creep. Listen Below. 0:43 Scope creep or out-of-scope work is defined as performing tasks not outlined in the client agreement.

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5 Ways to Optimize Your Resume for AI Tools Recruiters Use

CPA Practice

By Jeremy Schiff. New to the job market? Looking for your next gig after years at your most recent role? Or maybe you’re happy in your current position, yet you’re still open to other interesting opportunities and wouldn’t mind if a recruiter got in touch. Here’s something you need to know: These days, there’s almost always a robotic gatekeeper standing between your resume and an actual human’s eyeballs.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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Unlock Growth Potential: Virtual CFO Services for Scaling Businesses

IgniteSpot

Discover how virtual CFO services improve your business’s finances and deploy tactics to help you scale.

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SBA 8(a) Business Development Program Application Suspension: Updates & Changes

Cherry Bekaert

For decades the Federal Government has provided a nine-year Small Business Administration (SBA) 8(a) Business Development Program to assist socially and economically disadvantaged entrepreneurs access to the Federal marketplace. The 8(a) program allowed for disadvantaged businesses that qualify a specific set-aside to seek out government sole source contracts under $7 million for manufacturing requirements and $4.5 million for goods and services.

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Is AI Development and Adoption Outpacing Regulation?

Insightful Accountant

According to a new Xero survey, there are calls among small business owners for greater data protection and education, with 77% believing AI will have an impact on their business in the next five years.

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INSIDE Public Accounting Ranks KROST Among Top 100 Firms in the US in 2023

KROST

PASADENA, CA– INSIDE Public Accounting (IPA) has named KROST CPAs & Consultants Top 100 Firm in 2023. The firm ranked 73rd on the prestigious Top 100 list. KROST along with other recipients of these distinguished awards are highlighted in IPA’s monthly newsletter. KROST has been named Top 100 firm for the third year in a Read the full article. The post INSIDE Public Accounting Ranks KROST Among Top 100 Firms in the US in 2023 appeared first on KROST.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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Compensation Is Just the Start, Skagit County Business Owners

SkagitCountyTaxServices

We’re just over a month away from the MLB playoffs, and this year (like every year) has had its share of sketchy calls that fans and players have been unhappy about. While not everyone’s favorite summer pastime (the sports season that never ends still has more than two months of games to go), this summer there are seemingly more strike calls than ever happening beyond the diamond.

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Productivity in accounting: Is technology the problem?

Accounting Today

Technology saves us a lot of time and effort — but it also requires a lot of time and effort. Are we really coming out ahead?

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State CPA Societies in Action: Tennessee Society of CPAs

CPA Practice

State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S. The mission of the Tennessee Society of CPAs is to drive the success of its members and the communities they serve through connections, professional development, and advocacy.

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Xero Expands Relationship with US PKF firm & Related Entity

Insightful Accountant

PKF Mueller and Mueller dotKonnect sign up to global agreement, making Xero the preferred accounting software for their clients.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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Accounting Seed Announces Strategic Partnership with Cloudteam Company

Accounting Seed

Columbia, Md. [August 24, 2023] – Accounting Seed, the #1 accounting solution built natively on the Salesforce Platform, announces a new partnership with Cloudteam Company. Cloudteam Company aims to drive change by providing customers with an entire end-to-end CRM and ERP landscape that helps customers work better, faster and smarter. As a Value-Added Reseller of Accounting Seed, Cloudteam Company brings Salesforce implementation expertise and years of accounting experience to Accounting S

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Translucent Accounting Platform Raises £5M Seed-round

Insightful Accountant

The accounting platform Translucent has raised £5M seed-round led by Europe's No. 1 seed investor, LocalGlobe.

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3 Factors to Consider When Hiring a Power Platform Consultant 

Withum

During our Power Minute video series , my colleague Jeff Willinger and I have spent the last few months making a case for Power Platform as a fantastic Microsoft modern workplace tool for organizations of all sizes to unleash the innovation potential within their teams. Whether you’re already convinced that low-code/no-code with the Power Platform is part of your organization’s future, or the Power Minute helped you get ready to make that decision, your next step is deciding whether or not you n

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Xero Beautiful Business Fund Submissions Now Open

Insightful Accountant

Xero has opened applications for its inaugural Xero Beautiful Business Fund.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

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Understanding the Inflation Reduction Act and Other Energy Incentives

Cherry Bekaert

The Inflation Reduction Act (IRA) of 2022 introduced monumental updates and additions to energy tax credits and incentives available to qualifying businesses. Deciphering how these incentives work and can benefit you can be complicated. Learning how to use and apply for these credits and how it can result in significant tax savings. Learning Objectives: Gain an understanding of the IRA’s purpose and impact Explore available energy credits and incentives Discover how to take advantage of availabl

Tax 52
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Crowe Strengthens Private Equity, Venture Capital and Hedge Funds Services

CPA Practice

Crowe LLP , a public accounting, consulting and technology firm in the U.S. with offices around the world, has expanded its tax service capabilities serving clients in the private equity, venture capital (VC) and hedge fund space with the recent addition of two new partners to the firm, Gev Khan , CPA, MBA, and Eric Evans , CPA. These new hires build on the firm’s recently announced expansion of private equity service offerings in Los Angeles and Boston.

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Maximize Tax Savings Through Cost Segregation, Section 179D, and Section 45L Approach and Client Success Stories

Cherry Bekaert

Watch our video to learn more about the cost segregation study and how to take advantage of Section 179D and Section 45L energy tax credits. Commercial and domestic property owners and developers have a multitude of tax-saving opportunities available to your business to help your business reach its financial goals and increase cash flow. Determining which opportunities you can take advantage of can be challenging.

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Forbes Recognizes Six Top Accounting Firms That Also Have Management Consulting Chops

CPA Practice

Six of the top seven public accounting firms in the U.S. by revenue were lauded by Forbes for having excellent management consulting practices. Forbes unveiled its eighth annual list of America’s best management consulting firms , which is accumulated through a survey of industry insiders and clients. Companies were evaluated within different consulting sectors (such as automotive, insurance, and health care) and the expertise in which they offer services (including leadership, sustainability, a

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.