Thu.Aug 04, 2022

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The recovery loan scheme returns! What you need to know

Wellers Accounting

Ben Brookes FCCA , details the return of the government recovery loan scheme.

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Marketplace facilitators: Your latest Q. and A.

TaxConnex

We talk a lot about nexus and compliance processes in our content, but what about marketplace facilitators? In this blog we answer your top questions about marketplace facilitators. What is a marketplace facilitator? This is a business or organization that contracts with third-party businesses to sell goods and services on its platform and facilitates retail sales.?

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Mistakes Happen

Withum

Yesterday there was a bruhaha over a politician’s misstep followed by a bungled apology. If you follow New York City politics, you likely know what I am referring to. If you do not, then the details and who said it are not important. What is important is that someone misspoke, and when confronted with it, she gave an apology that made it worse. Everyone makes mistakes.

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VNC Connect – A Remote Support Software Synopsis

Intuitive Accountant

VNC Connect lets you accelerate your business with secure remote desktop access and support for a connected world. It offers a free personal version and inexpensive business subscription plans.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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FRC Head Tells Firms to Stop B g About Audit Fines and Just Git Gud, Scrubs

Going Concern

FT reports that Financial Reporting Council CEO Sir Jon Thompson has a strong message to firms upset about getting hit with fines for bad auditing: git gud. Accountants should stop complaining about extra scrutiny and fines for audit failures and improve the quality of their work, said the head of the sector’s UK watchdog, which imposed record financial sanctions on the industry last year.

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5 Ways to Get More Qualified Leads

Intuitive Accountant

To cold call or not to cold call? DOCUDavit Solutions' Sid Soil answers the question with how you generate quality engagements the right way.

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Accounting Automation Should Be A Top Priority - Here's Why

AccountingDepartment

The GDP fell another 0.9% (annual rate) in the 2nd quarter, signally the economy is now heading toward full recession, as the economic conditions continue slowing. Businesses are struggling to fill vacancies and supply chain disruptions are still the norm. With diverse challenges today, automation is a more valuable tool than ever before.

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Has Your Business Been Hit Hard? 8 Tips on How to Solve Supply Chain Problems

Patriot Software

First it was COVID shutdowns. Then it was the Ever Green wedged in the Suez Canal (remember that?). Now, it’s a national shortage of truck drivers, warehouse space, and shipping containers … and it’s impacting businesses nationwide. Close to 96% of small business owners report that supply chain disruptions have impacted their business. Has it […] READ MORE.

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Compensation Watch ’22: Did RSM US Share the Wealth with Employees?

Going Concern

The 2022 comp thread for RSM US is out on r/accounting, and it ’s pretty meaty—just like the Omaha Steaks the firm’s been giving to employees. Also meaty was RSM ’s revenue for its 2022 fiscal year, which according to Accounting Today’ s 2022 Top 100 Firms ranking, was $3.13 billion, up nearly 11% from 2021’s result of $2.87 billion. Many RSMers already benefited a bit from the firm ’ s record-setting revenue by getting a mid-year pay bump.

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How to Prepare Your Company for Ongoing Change

GrowthForceBlog

8 min read. Coming out of the pandemic and global lockdowns, businesses have faced no shortage of unexpected challenges that started with not only copious adjustments to meet new public health and safety standards but also fears of war with Russia's invasion of Ukraine, supply chain issues, and worker shortages.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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The Six Weapons of Influence

Intuitive Accountant

Internationally renowned ProAdvisor Esther Friedberg Karp takes a deep dive into how adopting these tactics will help navigate life's inherent complexities.

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Recession-Proof Your Business with These 5 Strategies

LSLCPAs

There will always be peaks and valleys while building a business. Sometimes, world events can impact your bottom line—like gas prices and consumer spending. While these may feel beyond your control, there are a few actions that can mitigate the long-term effects of these short-term realities. The positives can be difficult to see during challenging.

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Bank of England raises interest rates… again.

Inform Accounting

New just in - the Bank of England has announced the largest increase in interest rates in 25 years, from 1.25% to 1.75%. This is the highest rate since the global financial crisis in December 2008 when interest rates reached 2%. With initial predictions estimating inflation to increase 11% by the end of the year, and other forecasts suggesting this could be as high as 15%, this increase comes as an attempt to slow the rate of inflation down.

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IRS Announces Indexing Adjustments for 2023 ACA Affordability and Premium Tax Credit Determinations

ThomsonReuters

Rev. Proc. 2022-34, 2022-33 I.R.B. (Aug. 15, 2022). Available at [link]. The IRS has announced 2023 indexing adjustments for important percentages under the Affordable Care Act (ACA). The required contribution percentage is used to determine whether employer-sponsored health coverage is “affordable” for purposes of employer shared responsibility under Code § 4980H.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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But Who’s Counting? Episode 10: Identifying and Preventing Fraud to Keep Your Profits Out of the Wrong Pockets

Anders CPA

It’s estimated that companies will lose about 5% of annual revenue to fraud or $4.7 trillion globally. While we dug into how the pandemic created opportunities for fraud in a previous episode, there is so much more business leaders and owners need to be aware of to prevent fraud before it’s too late. In this episode of the But Who’s Counting?

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Accounting “Irregularities” Can Signal Fraud

FraudFiles

Numerous signs can point to the possibility of fraud. Literally hundreds of different types of fraud schemes exist, so the number of possible red flags of fraud is huge. Today we’ll talk about one area where you may see some red flags: irregularities in the accounting records and procedures. Irregularities that point to the possibility of fraud can range from simple things like unreconciled accounts and unusual account balances to more complex problems like “on top entries,” which are made

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How an Accountant Future-Proofed His Firm

Accounting Web

Practice Excellence How an Accountant Future-Proofed His Firm.

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Taxpayer advocate appeals IRS decision to delay scanning tech

Accounting Today

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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What professional accounting certifications might an accountant earn?

Wendy Tietz

In the United Stated, accountants have a variety of certifications from which to choose to enhance their skill sets and further their career prospects. Some of these certifications are: Certified Public Accountant (CPA) Certified Management Accountant (CMA) Chartered Global Management Accountant (CGMA) Certified Internal Auditor (CIA) Certified Fraud Examiner (CFE) View a quick tutorial video […].

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High school students explore accounting careers at MassCPAs summer program

Accounting Today

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Acterys Power BI App Contest: The Dashboard Challenge Begins!

Acterys

Calling all Acterys partners! It is time to unleash the Power BI wizard in you – wield your magic staff to build and showcase outstanding dashboards. Acterys is bringing you, the first of many to come, the Acterys Power BI App Contest. Use this opportunity to boast your skills and expertise in building stunning reporting and analytic solutions using Power BI.

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Limits of cloud tax solutions driving decision makers to edge

Accounting Today

Tax 101
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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Acterys Hackathon: The Power BI Dashboard Contest Begins!

Acterys

Calling all Acterys partners! It is time to unleash the Power BI wizard in you – wield your magic staff to build and showcase outstanding dashboards. Acterys is bringing you, the first of many to come, Acterys Hackathon. Use this opportunity to boast your skills and expertise in building stunning reporting and analytic solutions using Power BI. About Acterys Hackathon.

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Tax Fraud Blotter: Quit while you're ahead

Accounting Today

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Bank of England: Bank Rate increased to 1.75%

Accounting Insight

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 3 August 2022, the MPC voted by a majority of 8-1 to increase Bank Rate by 0.5 percentage points, to 1.75%. One member preferred to increase Bank Rate by 0.25 percentage points, to 1.5%.

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FASB reports on investor outreach efforts

Accounting Today

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Agencies Issue More FAQ Guidance (Part 54) on Contraceptive Coverage

ThomsonReuters

FAQs About Affordable Care Act Implementation Part 54 (July 28, 2022). FAQs. News Release. The DOL, IRS, and HHS have jointly issued FAQs Part 54, addressing required coverage of contraceptives by non-grandfathered health plans and insurers. The FAQs, which are the latest in the Biden administration’s effort to bolster access to contraceptives after the U.S.

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Transforming tax for two: Spin-offs and the tax function

Accounting Today

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A Petition to Fire SEC Chair Gary Gensler Has Almost 25,000 Signatures

Going Concern

“Al from Boston” and 23,919 other individuals would like to see SEC Chairman Gary Gensler gone, namely for obstruction of justice, incompetence, and screwing over retail investors. From the change.org petition : SEC Chairman Gary Gensler is complicit in criminal activities perpetrated by Citadel Securities, Citadel the Market Maker in naked short selling and dark pool abuse.

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'Don't panic!' What tax pros are telling clients about recession

Accounting Today

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.