New sustainability rules attacked for protecting profits over planet
Accounting Today
JULY 29, 2022
Fri.Jul 29, 2022
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Friday Footnotes: KPMG Accounts For Half of All Audit Fines; LGBT Accountants Dip; EY in Big Debt? | 7.29.22
Going Concern
JULY 29, 2022
Ed. note: fans of accounting news — all two of you — are encouraged to sign up for our newsletter to get headlines delivered to your inbox twice a week on Tuesday and Friday. Check out today’s newsletter here. U.K Audit Regulator Hands Down Record Fines for Audit Failures [ Wall Street Journal ] The Financial Reporting Council on Thursday said financial sanctions during the year ended March 31 totaled £46.5 million before settlement discounts, equivalent to $56.6 million and up
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Legislative Update
Withum
JULY 29, 2022
There are two significant developments coming out of Congress. First, on July 28, 2022, the House voted to approve “The CHIPS and Science Act of 2022,” which was passed by the Senate on July 27, 2022. This bill passed in the House on a bipartisan basis with a vote of 243 to 187. It includes a 25% advanced investment tax credit for certain investments in semiconductor manufacturing, and it will be sent to the President for signature, which is expected because the administration has already expres
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.
Xero partners with Lewes FC to help women thrive on and off the pitch
Xero
JULY 29, 2022
We believe, as Lewes FC do, that for women’s football to thrive, the financial viability of clubs at all levels is essential. Put simply, we believe that better numbers off the pitch will deliver better numbers on it. Today we’re incredibly excited to announce a three year partnership between Lewes FC and Xero to help the club on its mission to drive greater equality in the women’s game.
The PCAOB Hasn’t Done a Lot With Audit Standards in the Last 20 Years But They’re Getting Around to It Now
Going Concern
JULY 29, 2022
From remarks delivered yesterday by PCAOB Chair Erica Y. Williams at a virtual event hosted by Council on Institutional Investors (CII) on the 20th anniversary of Sarbanes-Oxley and the establishment of the PCAOB: When the PCAOB was first getting off the ground in 2003, it adopted existing standards that had been set by the auditing profession on what was intended to be an interim basis.
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Someone Thought Taking on a Full-Time Second Job at a Big 4 Firm Would Be Low Stress
Going Concern
JULY 29, 2022
Have you heard of overemployment? I really shouldn’t be talking about it but since I’m not in the club, screw it. The concept is: work multiple jobs at the same time, putting in just enough effort so you remain employed but not so much that you’re working too hard despite juggling several “full-time” jobs at once. The key is not to be lazy but rather precisely meet expectations, not exceed them.
GoTo Resolve – A Remote Support Software Synopsis
Intuitive Accountant
JULY 29, 2022
LogMeIn is now GoTo. And while I once used LogMeIn Rescue, I thought I'd cover GoTo Resolve, which may be a little more appropriate for the majority of our readers.
A Senior Partner Who Has Probably Been Burned Out Since 1997 Gives Tips on Avoiding Burnout
Going Concern
JULY 29, 2022
Why do I feel like this screenshot is going to end up on r/thanksimcured ? via r/accounting. Now this may be blasphemy to say this around these parts but he’s mostly right. Exercise? Hell yeah, great for you. Healthy eating? Also great for you, those takeout dinners can really take a toll on your health. Passion projects? Super important to find fulfillment in the otherwise boring and meaningless modern human existence. #3 though. #3. #3 great sounds good on paper — or rather, typed
Accountants vs. Business Advisors
Intuitive Accountant
JULY 29, 2022
Accounting firm or business advisor? HR analyst Fabian Sandoval explains why keying in on your client's financial and business issues while providing professional advice can set you apart.
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.
"Bank Letter Required" Message Opening QuickBooks Desktop
SchoolofBookkeeping
JULY 29, 2022
Nothing like waking up to a fire alarm, right?? Today when opening QB desktop, we were greeted with the above screenshot. Every company we opened gave the same message, even the ones that didn't have QB Payments. Googling the phone number didn't give much confidence. I called the number and it is indeed Intuit, but they were having higher than normal call volume.
Insightful Accountant is on YouTube
Intuitive Accountant
JULY 29, 2022
Become an Insightful Accountant YouTube page subsriber and open the door to a treasure trove of content for you and your team.
A Cutting Expenses How-to for Skagit County Businesses
SkagitCountyTaxServices
JULY 29, 2022
As a small business owner, you’re battling on a lot of different fronts right now. You’re doing your best to keep employees happy, raise prices without driving away customers, pivot to alternative supply options as your current ones dry up, adjust for changing tax laws, etc, etc, etc. We small business owners always seem to bear the brunt during economic downturns.
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.
How To Prevent Employee Theft In Your Construction Company
Randal DeHart
JULY 29, 2022
Recent employee theft statistics are increasing, and small business owners are more vulnerable to the problem. The most common embezzlement methods include billing fraud, cash on hand, and check tampering. You may not know how employees can steal from you as a construction business owner. Some standard methods include: redirecting company checks to personal accounts and altering entries to cover up the theft. undercounting change to customers and keeping the balance. seeking reimbursement for no
The Top CEO Books for Executives to Read in 2022
GrowthForceBlog
JULY 29, 2022
7 min read. Being a successful business leader requires much more than good instincts.
8 Pillars of Leadership Development
Advertiser: Paycor
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.
Vendor Negotiation Tips for Skagit County Business Owners
SkagitCountyTaxServices
JULY 29, 2022
Is your hustle muscle feeling strong right now? I hope so because if your business is going to make it moving forward, it’s going to have to be – at least for somebody on your business team. This inflationary environment virtually demands it (as does a likely recession — are you planning for it?). Besides juggling all of the economic and cultural changes the last few years have put on your plate, you must set aside time to think about how to adjust for new market forces around your Skagit County
Why going Net Zero is vital for accountancy practices large and small
Accounting Insight
JULY 29, 2022
As the recent record-breaking temperatures have shown, climate change remains a global crisis which is only getting more severe with every passing year. The government has put in place a legally binding target for the UK to reach Net Zero carbon emissions by 2050 (and cut them 78% by 2035, when compared to 1990 levels). This essentially means that, as a country, the amount of greenhouse gas emissions we produce will have to be balanced against the amount that we remove from the atmosphere.
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.
Window to Make Portability Election is Extended to Five Years
KROST
JULY 29, 2022
Since lifetime gift exemption has drastically increased by the Tax Cuts and Jobs Act (TCJA), which went into effect in 2018, considerably fewer people are subject to estate tax filing. According to the TCJA, for 2022, decedents with an estate valued less than $12,060,000 are not required to file an estate tax return. However, to Read the full article.
Be A Know-it-all: The solution to the £61 billion late payment problem has launched
Accounting Insight
JULY 29, 2022
First of its kind cloud-based platform streamlines the approach to the credit management process, helping businesses mitigate credit risk, reduce debtor days and boost cash flow! Know-it , a Scottish fintech start-up, has officially today launched their cloud-based credit management platform. Founded by Lynne Darcey Quigley, the new platform gives businesses the tools and intelligence to automate and simplify the way they manage credit risk and the credit control process, helping save time, redu
How to Set Better OKRs and Drive Results
Advertiser: Paycor
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.
Reporting (P&L and Balance Sheet): A Feature Overview
Snyder
JULY 29, 2022
The financial world of any business revolves around accounting – a complex system of recording and summarizing financial transactions, as well as analyzing, verifying and presenting the results in the form of various reports. Today we’d like to focus on two pillars of financial reporting – the profit and loss (P&L) statement and the balance sheet, and explain what these reports are, how to calculate them and why they matter.
Badges of Fraud
Withum
JULY 29, 2022
Proving intent is difficult, if not impossible, as it requires an understanding of what the taxpayer was thinking when he understated his tax bill. To address that situation, the IRS has developed a list of factors it calls Badges of Fraud. . While no one factor is determinative, a combination of factors or totality of circumstances points to intent.
How To Raise Capital For Your Small Business Start-Up — FREE Webinar 8/10/22
Nancy McClelland, LLC
JULY 29, 2022
This excellent series of free webinars designed to help small business owners succeed in a challenging world — offered by the Chicago Department of Business Affairs and Consumer Protection (BACP) — is back with a can’t-miss Business Education Workshop Webinar on Wednesday, August 10th at 3 pm Central. All their webinars are free and open to the public, and many are offered online, which means that anyone can attend — they’re not restricted to Chicago small business
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.
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