Tue.Nov 01, 2022

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Document Management Best Practices Accountants Should Follow | Canopy

Canopy Accounting

Your document management system is a big part of your accounting firm’s success. At least you hope that it is. It could also be the weak spot that prevents your firm from growing. Stay organized, and you take care of the clients you have while winning new ones. Drop the ball on document management, and your entire workflow grinds to a halt.

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Sales tax concerns if you sell through multiple channels

TaxConnex

This article was originally featured in the Retailist on October 3rd, 2022. Businesses have new ways to sell today, as marketplaces such as Amazon and the business’s own website have joined established channels like direct retail sales and wholesale sales. Each brings different sales tax implications – and retail and ecommerce businesses aren’t always aware of their obligations.

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Tax planning in an unpredictable political and financial climate

Accounting Today

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Our Audits Sucked Because the Auditors Are Exhausted, Says Deloitte Australia

Going Concern

Last week the Australian Securities and Investments Commission (think Aussie PCAOB) informed us that Deloitte and KPMG need to take “continued deliberate and concerted action” to improve the quality of their audit work because apparently it is just that bad. Deloitte did not meet ASIC standards on half of audits inspected, KPMG came in at 48 percent.

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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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M&A roundup: Weaver, Rea, Gross Mendelsohn and Bowman expand

Accounting Today

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Baseball and Business Skills

Withum

Watching the World Series has me thinking about the importance of excellence in every skill a player needs. These include pitching, batting, catching, throwing, hitting the cutoff man, running, sliding, stealing a base, bunting, practicing, working out, training, loosening up, following signals, getting coached, making sure equipment is maintained, studying opposing players, planning for the game and teamwork.

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How to Open a Business Bank Account in 4 Steps

Patriot Software

Sixty-eight percent of businesses have separate bank accounts for personal and business finances. Separating accounts helps companies organize accounting records, avoid overspending, and accurately file taxes. You may decide to open a general business checking or savings account, payroll account, or business tax account. Regardless of the type, you need to know how to open […] READ MORE.

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BDO USA expands NetSuite capabilities with new collaboration

Accounting Today

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Learn All About Allowance for Doubtful Accounts (Aka Bad Debt Reserve)

Patriot Software

When it comes to your small business, you don’t want to be in the dark. Your accounting books should reflect how much money you have at your business. If you use double-entry accounting, you also record the amount of money customers owe you. But, what happens if they don’t pay? To protect your business, you […] READ MORE.

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How to fix the IRS

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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What Is Bad Debt?

Patriot Software

Extending credit to customers is a great way to encourage impromptu purchases, boost sales, and increase profits. But sometimes, customers don’t pay you, resulting in a bad debt. What is bad debt? What is bad debt? A bad debt occurs when someone owes you money but you are unable to collect it. The debt is […] READ MORE.

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Hybrid advisors charge clients the most — even more than brokers

Accounting Today

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Do You Know How to Find Net Income?

Patriot Software

Incoming revenue is vital to business growth, but it doesn’t paint the most accurate financial picture of your business. You must know whether your company is profiting after deducting business expenses. You need to determine your business’s net income. Calculating your business’s net income helps you determine your business’s profitability, decide whether to expand or […] READ MORE.

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Deloitte taps Ucuzoglu as next global CEO

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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9 Self-employment Tax Deductions You Should Be Taking

Patriot Software

If you are self-employed, you might be overwhelmed by the expenses you have, including your self-employment tax liabilities. However, you can claim self-employment tax deductions to reduce the amount you owe in taxes. See how you can take advantage of self-employed tax relief below. Who is self-employed? You are self-employed if your business is unincorporated. […] READ MORE.

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Personal Goodwill as a Tax Strategy: 3 Requirements for Using Personal Goodwill to Reduce Taxation

CTP

Tax planners can provide tremendous value in the sale of a business. Business owners and shareholders may not be aware of the tax consequences that will come with selling their shares or assets—and offsetting these costs requires a thoughtful tax strategy. This is especially true for the sale of a C corporation since this business type is taxed separately from its owners.

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Understanding the Remote/Hybrid Workforce

Intuitive Accountant

Whether it's your firm or your clients, there are things to know about working remotely. ADP is offering critical insights and strategies on key compliance considerations. Sign up for the Nov. 3 event here.

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What Is Escrow, and Why Should a Small Business Owner Know About It?

Patriot Software

Transactions between two parties can be tricky business. As a small business owner, you need to make sure that things like selling tangible and intangible assets goes smoothly. You might consider using an escrow agent to help. So, what is escrow? What is escrow? Escrow is the safekeeping of monetary items by a neutral party. […] READ MORE.

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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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Is Your Sales Team Using LinkedIn To Its Full Potential? Most Likely Not…

GrowthForceBlog

8 min read. How much time do you spend on LinkedIn? How much time do your sales team and human resources department spend on LinkedIn? Key Takeaways. Building a Personal Brand Is Essential: In addition to your professional posts, personal content can help you…. Focus on Proactive Recruiting: She sees many businesses missing out on a major opportunity for recruiting and building pools of potential candidates through….

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The Low-Down on Key Performance Indicators

AccountingDepartment

Clickthrough rates for web content, production efficiency, and average resolution time have one major commonality. These are all examples of key performance indicators, better known as KPIs.

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IRS Announces Annual Inflation Adjustments for 2023

Dent Moses

The IRS recently announced the 2023 annual inflation adjustments for over 60 tax provisions. Most of these changes will apply to the calendar year 2023 tax returns that will be filed in 2024. Income Tax Brackets. For married couples filing a joint return and single individuals, the chart below shows the marginal ordinary tax rate for each bracket of taxable income.

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St. Louis Inno Partnership: How to Find a Cofounder for Your Startup

Anders CPA

Adding the right cofounder to your startup team can open several doors, from bringing in a unique perspective to improving the quality of your product or service, to establishing credibility with prospective investors. Senior tax manager Josh Snyder detailed the benefits of recruiting a cofounder, how to choose the right fit for your startup and more in a recent article for the St.

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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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Getting Ready for Top 100 – Training Part 1

Intuitive Accountant

Murph is offering pointers (literally) about training for the 2023 Top 100 process in this new series. Part 1 focuses on the training ProAdvisors can find on the Intuit ProAdvisor website.

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Accounting Software for Accountants and Bookkeepers

Snyder

Accounting software is the primary operational tool for bookkeepers and accountants. With a large selection of products available on the market, it’s possible to pick the one that best addresses the unique needs of your accounting firm and your clients. . In this article, we’ve compiled a list of reliable software, paying attention to the most important features for accounting professionals.

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Future Forward: Trends for 2023 – Nov 30

Intuitive Accountant

Is your firm ready to seize the latest opportunities and benefit from the latest accounting tech trends? See what four industry thought leaders have to say in this conference kick-off session. Sign up for the Nov. 30 webinar now.

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From rearview to future view: FP&A services

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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eSports Industry Trends

Withum

There have been few industries that have seen surges in popularity and demand since the start of the pandemic in early 2020. Among the most dramatic has been in the eSports and online gaming arenas which boasted a market value, for the first time in its short history, of over $1 billion at the end of 2020 and is expected to double to just over $2.1 billion by 2025, and then to almost $4 billion by 2030.

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In the blogs: All the news

Accounting Today

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How to Make Your Small Business Dreams a Reality

MazumaBusinessAccounting

Starting a business is a dream that many people have. The idea of creating something that is your own, being your own boss, and being able to turn your passion into a full-time job is compelling. In order to be successful and make your small business idea come to life, you have to take time to figure out all aspects of your business to see if it has potential.

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IFRS Foundation completes IRCC roster

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.