Thu.Nov 03, 2022

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A time for innovation, flexibility and compassion

Accounting Today

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Digital advertising tax blocked

TaxConnex

A new tax law in Maryland seemed ready to rattle every company that sold digital products in the U.S. But a court has now invalidated the Maryland Digital Advertising Tax. Earlier this month, an Anne Arundel County Circuit Court judge blocked the digital advertising tax, which was set to be levied on companies making more than $100 million. The judge ruled that the tax violates the Internet Tax Freedom Act and the U.S.

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Benefits of GAAP

SMBAccountant

The benefits of following GAAP for Small Business: Many small business owners shy away from anything associated with Generally Accepted Accounting Principles (otherwise known as GAAP) thinking they apply only to large publicly held organizations. This thinking is far from true, however. GAAP was created to be a standard "rule book" for organizations to follow, and was intended to be used by all businesses -- small and large, private and public.

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Profit vs. Profitability

Patriot Software

As a business owner, you need more incoming than outgoing money to keep your company afloat. How much money you have left over after you pay expenses is known as profit. You should measure your business’s profits, which is known as profitability. Understand profit vs. profitability to analyze your company and make financial decisions. Profit […] READ MORE.

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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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Ransomware attacks doubled from 2020 to 2021

Accounting Today

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This NASBA Tweet Is Going to Disappoint A LOT of People Today

Going Concern

On Thursdays the official NASBA Twitter account publishes #ThursdayThoughts, usually some kind of tip or trick like last week’s advice on what to do if you are having trouble matching to your NASBA Dashboard’s CPA Portal account ( here’s the link for that if you need it). But today’s thought is less a tip and more of an abject dream-crusher.

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How you can protect yourself as fraudsters target UK taxpayers

Xero

‘Tis the season for, well, lots of things. Get trick or treating out of the way, and then it’s time for the holidays. Finish unwrapping your presents, and get ready for New Year’s Eve. Once you’ve caught up on your sleep, it’s arguably the most exciting time of all – that’s right, tax season. . In all seriousness, tax season can be an extremely stressful time for taxpayers and accountants alike – perhaps even more so this year, with HMRC’s monumental change, Making Tax Digital (MTD) for VAT , fu

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Withum grants $95K to assist employees with student loans repayment 

Accounting Today

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P&L Management for Small Businesses

Patriot Software

Being able to effectively manage your incoming and outgoing money ensures you have a healthy business. To do so, you need accurate financial records. Make necessary changes to your business through P&L management. Profit and loss statement Before talking about P&L management, you need to understand a P&L statement. A profit and loss statement for […] READ MORE.

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Indiana updates CPA exam rules

Accounting Today

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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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Cash-only Businesses: Are They Worth It, How to Run, and More

Patriot Software

You know the old saying—money makes the world go ‘round. Today, there are many different payment options to keep the world spinning. But, some businesses prefer to limit customer payments to cash. Do cash-only businesses clog cash flow? What are cash-only businesses? A cash-only business operates on cash transactions. Cash-only businesses only accept cash from […] READ MORE.

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M&A roundup: Baker Tilly and EisnerAmper expand

Accounting Today

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Get the Lowdown on Different Types of Equity for Your Small Business

Patriot Software

There are many different accounts you can use to record equity in your business accounting books. Before you can begin tracking equity, you must learn about the different types of equity that can apply to your company. Different types of equity Before jumping into different forms of equity, let’s quickly review what business equity is. […] READ MORE.

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IRS criminal investigators ramped up probes this year

Accounting Today

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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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Accounts Payable vs. Accounts Receivable

Patriot Software

As a small business owner, setting up your accounting books and maintaining accurate records is essential. To make that happen, you need to be familiar with accounts payable and accounts receivable. Both accounting entries are part of double-entry bookkeeping, but what is the difference between accounts payable vs. accounts receivable? What is the difference between […] READ MORE.

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Super-rich Americans paid 97% more estate tax during pandemic

Accounting Today

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Future Forward 2020: The New CAS Niche

Intuitive Accountant

CurioHaus' Sonia Dumas provides an actionable plan on how you can create a cryptocurrency advisory service revenue stream. Sign up for the Nov. 30 webinar now.

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FBAR fines questioned in Supreme Court clash

Accounting Today

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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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Getting Ready for Top 100 – Training Part 2

Intuitive Accountant

Murph is back for Part 2 of his series on training and how it can impact your Top 100 ProAdvisor score. Here, he gives you some reasons to remember 'where you were' and 'what you took' when it's time to complete your application.

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IRS looks for more feedback on green energy tax credit rules

Accounting Today

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Gone Are The Days of Messy Financial Reports

AccountingDepartment

One of the most important aspects of successful accounting for a business is organization. Transaction records, tracking and reporting on areas of the business all fundamentally revolve around organized data and information.

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Companies face tougher net-zero validation requirements

Accounting Today

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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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Understanding the Disabled Access Credit

Patriot Software

As a small business owner, it’s your responsibility to make your company more accommodating for employees, customers, and other individuals with disabilities. And, did you know that qualifying small businesses can claim a tax credit for doing so? Learn about the disabled access credit to find out if you’re eligible. What is the disabled access […] READ MORE.

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Tax Fraud Blotter: Getting a bad Rep

Accounting Today

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What Is Burden Rate?

Patriot Software

Running a business has some indirect costs. These costs aren’t always apparent, which is why they’re the hidden costs of running a business. It’s important to keep track of your business’s indirect costs. And, you should know how your indirect costs compare to your direct costs. To do this, you’ll need to find your burden […] READ MORE.

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Accountants and financial advisors can partner for success

Accounting Today

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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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Your 3-Step Plan for Building Your Firm Online

Intuitive Accountant

Ratio CPA’s Paulina Szuszkiewics shows you why a strong web presence is ideal for putting yourself in front of potential clients.

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How to Change from Cash to Accrual Accounting

Patriot Software

When you started your business, you might have chosen to use cash-basis accounting. Cash basis is the simplest way to record your books. It is good for new businesses with few transactions. You might consider switching to the accrual accounting method as your business grows. Accrual accounting offers several perks for financial management. And if […] READ MORE.

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Keith Hamasaki Named a Top 100 Accountant by Los Angeles Business Journal

KROST

Pasadena, California – KROST’s Assurance & Advisory Principal, Keith Hamasaki, CPA, has made the Los Angeles Business Journal’s Top 100 Accountants list. In addition, he is also in the running for the specialty awards that will soon be announced. We will be supporting Keith at the 2022 Top 100 Accountants event on November 9, 2022, Read the full article.

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20 Days to a Better Firm: Explore new benefits

Accounting Today

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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.