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How to avoid giving away advice for free to prospective clients? I’m reminded of the old sex education message: Just say ‘no’! As an accountant you are, I’m sure, well used to prospective clients seeking free advice. I think the most common reason accountants give themselves, when they give away advice for free to prospective clients, is that it helps evidence their credibility, style, approach, knowledge and willingness to help clients.
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. Inflation bites. The Urban Institute told news outlets that 25 states recently reported year-over-year declines in sales tax receipts, a jump of more than a third in just a month. Less consumer spending amid persistently higher prices apparently triggered a decline in revenues.
According to a CNBC survey of businesses in 2022, 74% of businesses are dealing with supply cost increases. It is not uncommon for businesses to utilize standard costing inventory in their internal ERP system and update the standard cost for products on an annual basis. Standard costing is based on the expected costs of material, labor and overhead (typically established at the inception of a year) instead of the current actual costs incurred months later.
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.
Financial Times is reporting that EY Israel is joining EY China in rejecting the proposed split of audit and consulting services. “From our point of view in the Israel business, the split will not create benefits,” said EY Israel Managing Partner Doron Sharabany to FT. EY China’s decision was based on regulatory hurdles that could not be overcome, not that anyone over there thought cashing out millions of dollars would not be beneficial to those doing the cashing out.
It’s easy to get lost in the day-to-day clamour of our working lives. Targets, KPIs, deadlines – these are the things that keep many people awake at night, and often distract from the bigger picture. Which is to try to do some good on this planet before we leave it. . The team at EOG Accounting , a solely Xero practice based in North Wales, understands the need to meet business targets, but also to make a positive impact whenever possible. .
It’s easy to get lost in the day-to-day clamour of our working lives. Targets, KPIs, deadlines – these are the things that keep many people awake at night, and often distract from the bigger picture. Which is to try to do some good on this planet before we leave it. . The team at EOG Accounting , a solely Xero practice based in North Wales, understands the need to meet business targets, but also to make a positive impact whenever possible. .
As a small business owner, you may find yourself struggling to keep up with your business’s books. As soon as you know it, another month has passed and you’ve fallen behind recording transactions. Sure, closing your books can be stressful and time-consuming. But if you have a monthly closing process and checklist in place, you’ll […] READ MORE.
Pay your third-party contractors using direct deposit without QBO accounting using the new QuickBooks Contractor Payments. It even tracks and prepares your end-of-year 1099s.
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.
Your business’s profitability plays a major role in whether your company succeeds or fails. And if you want to find out how profitable your business is, you need to look at your profit margin. But if you really want to see where your business stands, you have to do a little more digging and analyzing. […] READ MORE.
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.
To outsource or not outsource your accounting? That is the question. Suppose you are like most business owners and managers. In that case, you often ponder the idea of outsourcing some or all of your accounting projects yet remain somewhat indecisive as outsourcing requires a small leap of faith. However, such a leap of faith is worth considering, especially when a proven team of experienced accountants is ready and willing to tailor outsourced accounting services to your company's nuanced numbe
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.
Unbeknown to many companies outside of the United States, the US has reinstated a long-dormant environmental tax known as the Superfund Excise Tax , which impacts certain companies in the EU and UK — especially those involved in the chemical, gas, and petroleum industries. Reinstated as part of the (IIJA), the Superfund Excise Tax was originally part of a government-led effort to clean up toxic waste dump sites across the United States.
Well, there we have it – the 2022/23 Federal Budget has been dropped by Treasurer Jim Chalmers. As the Treasurer mentioned in his Budget speech to parliament , there were three main drivers behind the Budget, “In this same spirit, our Labor Government’s first Budget does three things: It provides cost of living relief, which is responsible, not reckless – to make life easier for Australians, without adding to inflation.
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.
LinkedIn recently came out with its latest Workforce Confidence Index survey , in which more than 32,000 U.S. professionals —including accountants—were asked if they felt well-compensated for the work they do. Fortunately for LinkedIn researchers, they conducted an online poll instead of having to wade through all the muck posts of accountants giving digital fellatio to their firms , patting themselves on the back for obtaining the CGMA , and posing with a pile of textbooks they can now burn aft
Forgetting to submit your tax return can be stressful. And even worse, the IRS can charge you a late filing penalty. Read on to learn about the penalty for late tax return and what you can do to avoid future penalties. Want to avoid a late tax return … and the penalties that come with […] READ MORE.
Introduction. Having been in accounting for the majority of my career, working both in-office and remotely, it’s fair to say that with some help, accountants can begin their own firm and do everything from taxes and payroll to personal finances. Our clients are all over the country, but they work with us and our staff online. It’s an exciting career and one that many accountants are flocking toward these days because it allows them to work remotely while still providing them with opp
Ransomware attacks remain an area of concern for businesses due to their constantly evolving and increasingly sophisticated methods of gaining access to vulnerable systems. With October being Cybersecurity Awareness Month, there’s never been a better time to reevaluate your security network. Keeping a ransomware attack from happening in the first place is the best line of defense, as recovering from an intrusion can be lengthy and costly.
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.
Asked to describe her personality using hashtags: #LovingLife #NeverMetAStranger #SmileOften. While these qualities have contributed to her BD/marketing success in start-ups and Fortune 500s, we're adding #PSICoOwner #WomanInIT #GoalChaser. Asked to describe her personality using hashtags: #LovingLife #NeverMetAStranger #SmileOften. While these qualities have contributed to her BD/marketing success in start-ups and Fortune 500s, we're adding #PSICoOwner #WomanInIT #GoalChaser.
What expenditures would have been capitalized versus expensed in converting a church building to Bell Tower Brewing Co.? The owners of Bell Tower Brewing Co. in Kent, Ohio, purchased a 150-year-old church a few years ago. Over a three-year period, they converted the church building into a two-story, 9,000-square foot brewery. Pews from the church […].
Describing her personality using hashtags, Monica favors #LovingLife #NeverMetAStranger #SmileOften. While these qualities have contributed to her success as a BD/marketing leader in start-ups and Fortune 500s, we're adding #PSICoOwner #WomanInIT #GoalChaser. Describing her personality using hashtags, Monica favors #LovingLife #NeverMetAStranger #SmileOften.
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.
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