Tue.Jul 18, 2023

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Key Financial Controls for Startups

BurklandAssociates

Mitigate the risk of fraud and embezzlement at your startup with these easy to implement financial controls. The post Key Financial Controls for Startups appeared first on Burkland.

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Understanding situs for sales tax

TaxConnex

We hear a lot about nexus and various thresholds but not as much as about tax situs. The situs is the location in which a taxing event occurs. It’s easy to determine when the entire transaction occurs at the point-of-sale but is more difficult when the transaction involves numerous sites. In direct retail, for instance, situs can influence sales tax obligations depending on where the tangible personal property is shipped from in origin states or where it’s shipped to in destination states (learn

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Another QuickBooks Email – "Final Reminder"

Insightful Accountant

The newest email from Intuit QuickBooks is a Final Reminder to Become PCI Compliant Today. I have one and don't even have an active Payments Account.

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How Small Retailers Can Handle Sales Tax on Shipping: State-by-State Guide

CPA Practice

Worldwide retail ecommerce sales could reach $6.169 trillion in 2023 and comprise 22.3% of total retail sales. If you’re part of that rising tide, you need to know how to tax shipping and delivery charges. Is shipping taxable? Just as there’s no one way to get products into the hands of customers, there’s no one way to tax delivery charges: Taxability varies by state and is influenced by the delivery method, whether the products being shipped are taxable or exempt, and other factors.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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The top tax developments of 2023 — so far

Accounting Today

Forty of the most important court cases, revenue rulings, laws, regs and other guidance in the world of tax.

Tax 98
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Google Searches For the Word ‘Delayering’ Up 558% Since Today’s EY Global All-Hands Call

Going Concern

Apparently there was an EY Global all-hands today and at some point during it, leadership mentioned an important tidbit of information and then promptly breezed right past it. A tipster tells us: EY all hands, people do not seem happy. Staff on the call were told the firm will be focused on ‘delayering’ in fiscal 2024. And then little more was said, leaving the non-consultants to have to Google what that even means.

More Trending

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Back-to-School Spending Expected to Hit Record of $41 Billion

CPA Practice

As summer winds down, retailers are ramping up for what economic forecasters expect to be a big year. According to a new survey by the National Retail Federation, back-to-school spending in the U.S. is expected to reach a record $41.5 billion, up from $36.9 billion last year and the previous high of $37.1 billion in 2021. Back-to-college spending is expected to hit $94 billion, about $20 billion more than last year’s record.

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IRS encourages tax pros to adopt a written security plan

Accounting Today

The Internal Revenue Service wants practitioners, particularly in smaller tax practices, to use a new template to create a data security plan.

Tax 98
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What is UK Inheritance Tax? Guidance on the thresholds and gifting

Wellers Accounting

Tom Biggs answers the question, what is UK Inheritance Tax, and the potential strategies that can be implemented to help reduce this tax liability.

Tax 98
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Crypto scam losses soared in U.S., fell in rest of world

Accounting Today

Cryptocurrency fraud losses nearly doubled last year in this country, a marked contrast with the rest of the world, where they actually fell by around half.

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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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SOC 2 Compliance and Why It Matters | Canopy

Canopy Accounting

With reports of data breaches appearing on the news more frequently than ever, companies across the country are seeking increased security measures to protect the highly sensitive private information of their clients.

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Forensic accountants aid suspicious spouses in divorces

Accounting Today

These experts aren't only helping businesses and investors uncover fraud — they also can help people who are going through a divorce trace assets.

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New U.S. “Cyber Trust Mark” Label Intended to Show Security of Connected Tech

CPA Practice

By Michael Grothaus – Fast Company Fast Company Magazine (via TNS) Several technology companies and the White House have announced a new cybersecurity labeling program that aims to easily let consumers see which Internet of Things (IoT) devices have an acceptable level of security protection against cyberattacks. The U.S. Cyber Trust Mark will be applied to products that meet cybersecurity requirements, and major tech firms including Amazon, Google, and Samsung have already signed on.

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Study finds Great Recession increased physical pain as well as economic

Accounting Today

A recent study said that the Great Recession caused not just economic pain but long term physical pain in certain individuals as well, an effect that persists well into the present day.

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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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Survey Shows Top Reasons for Employee Turnover and the Impact of Pay Transparency

CPA Practice

A recent study shows that, while pay transparency can increase retention, other variables such as a company’s future outlook, fair pay perception, workplace culture, and manager relationships have a greater impact on why employees consider quitting their jobs. That’s according to data from the Retention Report , commissioned by Payscale Inc. , a provider of compensation data, software and services.

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Top KPIs for Manufacturing Businesses

AccountingDepartment

In the competitive world of manufacturing, success hinges on the ability to measure and improve crucial metrics that drive operational efficiency, quality, and profitability. Key performance indicators (KPIs) provide valuable insights into the performance of various aspects within a manufacturing company, enabling data-driven decision-making and fostering continuous improvement.

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How to Achieve a Zero Accounts Receivable Business

Insightful Accountant

Ignition's Matt Kanas explains how firm owners can build or transition their business to have zero AR.

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Unincorporated businesses overlap relief

Inform Accounting

From 6 April 2024, all unincorporated businesses will be taxed on their profit or loss arising in the tax year, regardless of their accounting end date. The current tax year (6 April 2023 to 5 April 2024) is a transitional year for businesses whose year-end is not coterminous with the tax year or not deemed to be, i.e. they have a year-end earlier than 31 March.

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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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HubSync Unveils Gateway

Insightful Accountant

The integrated and centralized dashboard helps enhance client engagement and provides CPA firms of all sizes with 360-degree visibility across operations.

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Statutory Lease Accounting: Much Ado About Nothing

Withum

Lease accounting for lessees has been a hot and widely discussed topic for several years and the new standard under generally accepted accounting principles (“GAAP”), Accounting Standards Codification (“ASC”) 842, Leases , became effective for private companies with fiscal years beginning January 1, 2022, and later. The relative lack of buzz in the insurance industry resulted from the National Association of Insurance Commissioners’ (“NAIC”) decision not to adopt the significant elements of ASC

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Why we Support the Greater Vancouver Food Bank

DMCL

DMCL is proud to announce we are returning for our third year as the Presenting Sponsor for the 2023 Greater Vancouver Food Bank ‘s (GVFB) Fore for Food annual fundraising tournament on July 19, 2023 at Northview Golf and Country Club. At the heart of our firm, we’re a group of people who live, work and play in our communities. To build healthy communities, you need to build a solid foundation that includes access to basic necessities like food.

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In Memory of James D. Huber 

Anders CPA

James D. Huber, retired tax partner at Anders CPAs + Advisors, passed away on July 13, 2023 surrounded by his loving family. He is survived by his adoring wife, children and 13 beloved grandchildren. Jim started his public accounting career in 1974 working at the firm his father, William Huber, founded in 1965, Huber, Ring, Wolling & Co. He went on to lead the firm and in 1989 merged with Helm & Co.

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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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Canada to stick with planned tax on big tech the U.S. opposes

Accounting Today

Ottawa has pledged to implement a new digital services tax in early 2024, unless a global tax agreement is ratified by OECD countries.

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Overcoming the Top 5 Challenges Faced by CPA Firms

Analytix Finance & Accounting

CPA firms play a critical role in today’s complex financial landscape. They provide essential services ranging from audits and tax preparation to consulting and advisory services. However, operating a successful CPA firm comes with its fair share of challenges. From constantly changing regulatory requirements to fierce competition, CPA firms often face obstacles that can hinder their growth and profitability.

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Carve-out Transactions: How They Differ from a Typical Acquisition

Cherry Bekaert

  What is a carve-out transaction? And what makes it different from a typical acquisition? As persistently higher interest rates and inflation pressure dampen the earnings outlook, corporations have begun to focus on opportunities to raise cash from divestiture of non-core business segments. On the surface, these carve-out transactions may present a compelling opportunity to acquire a mature business, but there are often hidden challenges below the surface that can impact the buyer’s ability t

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Just How Many People Left Big 4 Firms Last Year?

Going Concern

Just how many people left Big 4 firms — voluntarily or not — in 2022? About 56,600 according to this CFO Journal piece published on WSJ this morning. For this year, the number is about 21,400 through June, a 11.6% drop from the same period the year prior. That’s from workplace data analyzed by Revelio Labs. This year marks the first year the number of leavers has decreased rather than increased since 2019.

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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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Preserving the personal allowance

Inform Accounting

The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from the personal allowance. A taper applies which gradually reduces the personal allowance until it is lost. The taper applies when adjusted net income exceeds £100,000. It operates by reducing the personal allowance by £1 for every £2 by which adjusted net income exceeds £100,000.

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3 Ways Businesses Accidentally Create More Cybersecurity Risks

Anders CPA

Cybercriminals grow bolder by the day, forcing businesses to develop creative tactics to combat hackers’ increasingly sophisticated attacks. Unfortunately, some businesses may be inadvertently increasing their cybersecurity risks and leaving their operations open to network and systems intruders. Businesses that understaff, underbudget and fail to plan for inevitable cybersecurity attacks leave themselves in poor shape to properly respond to one, let alone prevent it from happening in the first

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NetSuite Gives Business Users Tools for Guided Learning

CPA Practice

To help customers maximize the value of the suite and accelerate adoption, Oracle NetSuite today announced NetSuite Guided Learning. NetSuite Guided Learning provides step-by-step guidance embedded in NetSuite to help educate users about system functionality and features. Available to all NetSuite licensed customers at no additional cost, the contextual learning guides help businesses leverage the full capabilities of the suite and reduce time spent on training.

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In the blogs: Good intentions

Accounting Today

Green is costing green; Moore to come; disaster disbelief; and other highlights from our favorite tax bloggers.

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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.