Tue.Nov 22, 2022

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How promoting the role of accountants and bookkeepers can drive small business growth

Xero

In the House of Lords last week, I watched as we launched our manifesto to support small business recovery. Surrounded by our amazing accounting and bookkeeping partners and small business customers, I understood the magnitude of what we are fighting for. . It was great to be able to connect many with their local MPs and take their issues directly to them during the event.

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Accounting firms and sales and use tax advising: Perfect together?

TaxConnex

In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. How can they go about making the move? Mark Friedlich, CPA, vice president of U.S. government affairs at Wolters Kluwer Tax & Accounting recently wrote that most CPA firms that have sales and use tax practices generally divide services offered into three categories: planning (nexus studies, taxability determinations, exemption certificate management and so on);

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What the IRS's $80 billion in funding means for your tax return

Accounting Today

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EY Survey Ironically Finds the Four-Day Workweek is the New Standard at Many Companies

Going Concern

According to the latest EY Future Workplace Index survey, many companies are moving toward a four-day workweek thanks in part to competition for talent. The survey reveals surprisingly optimistic attitudes from company leadership on real estate investment despite economic tightening, says the press release, a sign that employers want you back in the office at any cost.

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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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IRS warns about 1099-K compliance

Accounting Today

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Converting to a Roth IRA in 2022 Could Decrease Your Future Tax Burden

Anders CPA

Converting to a Roth IRA from a traditional IRA may result in an immediate tax liability but timing the conversion correctly can save on taxes in the long run. With the stock market’s instability and current income tax rates at a historical low, converting to a Roth IRA may be in your best interest, as long as you get the timing right. Key Takeaways: Roth IRA contributions are taxed up front, as opposed to traditional retirement accounts, which are taxed when you take distributions at retirement

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Free Yourself From Business Accounting by Outsourcing

AccountingDepartment

As the holidays approach, no business owner wants to be bogged down with accounting tasks, budgeting next year, or trying to prepare to close the books for 2022. Owning a business has many upsides to it, but one of the drawbacks for many is trying to keep track of the business's finances.

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Deducting gifts to charities requires strict compliance

Accounting Today

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How to Accelerate Your Financial Maturity (And How Virtual CFO Services Can Help)

IgniteSpot

Align Growth with Strategic Goals. To reach financial maturity, the best organizations stay goal-oriented. This can mean different things depending on your company.

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Reality TV stars Todd and Julie Chrisley sentenced to prison for tax evasion

Accounting Today

Tax 98
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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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The Value of the QuickBooks Desktop Unpaid Job Bills by Vendor Report

Intuitive Accountant

Use the Unpaid Job Bills by Vendor Report with slight modifications to find unpaid vendor bills either assigned to a job or not, and whether marked billable or not.

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New RIA acquirer makes second billion-dollar deal in a month

Accounting Today

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The Dos and Don'ts of Navigating Successful Mergers and Acquisitions

GrowthForceBlog

9 min read. Between 70- 90% percent of acquisitions fail. Key Takeaways. Remember You Can't Simply Sell (or Grow) Your Way to Profits: As Aldridge added more clients and took over more market share, their revenue kept increasing. Despite the top-line growth, they noticed that their profits were suffering…. Invest in Employee Development to Retain Employees: They're also investing in employee development and career training.

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Maner Costerisan celebrates its fifth annual volunteerism day

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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1099s – Why the Rush?

Dent Moses

While many would prefer to “think about that tomorrow” or in January, time spent now can significantly affect how hectic your January will be. The best practice is to have new vendors provide a completed W-9 before issuing a payment. We also recommend reviewing 1099 vendors a few times throughout the year and requesting any missing W-9s. Imagine skipping the frantic race to hunt down vendors to get information in time to prepare 1099s by late January.

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BNY Mellon's Frankfurt offices raided in German tax scandal probe

Accounting Today

Tax 98
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Holding a Large Position in One Stock? Know Your Options: Exchange Funds

KROST

Do you have a large position in a publicly held company? Are you concerned about having a concentration risk in your portfolio? If the answer is yes, then you should consider using an Exchange Fund, also known as a swap fund. An Exchange Fund provides the opportunity to diversify your stock holdings without triggering capital Read the full article. The post Holding a Large Position in One Stock?

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FASB proposes to add recognition, derecognition guidance to conceptual framework

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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Exposure Drafts: A Very Taxing Thanksgiving

Going Concern

Listen to Oh My Fraud , a podcast by Caleb Newquist and Greg Kyte, and get free CPE through Earmark. And Exposure Drafts holiday cards are now available for purchase through Rubook Creative. The post Exposure Drafts: A Very Taxing Thanksgiving appeared first on Going Concern.

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Sikich acquires O'Malley & Kwit

Accounting Today

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Maybe 2023 Will Be the Year You Get That Big Promotion

Going Concern

If 2023 is anything like 2022, the odds are stacked in your favor if you work in public accounting, according to a recent LinkedIn analysis. Professional services was among the five industries that doled out the most promotions this year: And at the top seven largest public accounting firms in the U.S., that big promotion came with a sizable pay bump in 2022.

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In the blogs: Numbers games

Accounting Today

Gaming 74
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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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How to Improve the Employee Workplace Experience

Intuitive Accountant

ADP's 'Voice of the Employee' survey to help predict employee behavior, simplifying results interpretation to help employers act on employee feedback and sentiment.

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PayPal and QuickBooks Accounting: How to Enter and Record PayPal Fees in QuickBooks

Snyder

Recently, PayPal has been a source of negative attention due to a $2,500 fine in its PayPal Misinformation Policy, and though the fine has subsequently been removed from the policy, the confusion among users remained. Today, we’ll turn to a different problem that also generates confusion: how to accurately and easily record PayPal fees in QuickBooks (QB).

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Comments on the AASB’s Tier 3 Standard for NFPs

Accounting for Good

The post Comments on the AASB’s Tier 3 Standard for NFPs first appeared on ACCOUNTING FOR GOOD.

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Are Your Restaurant and Retail Clients Overpaying Sales Tax?

Intuitive Accountant

Accountants and bookkeepers with restaurants, retailers and other service-based brick-and-mortar clients often are challenged to keep up with the needs of these clients. Here's what you can do.

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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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The Environmental Impact of Hybrid Work (Post-COVID)

Withum

Lawyers have the tendency to argue just about any topic, and today’s topic is remote and hybrid work. During the height of the pandemic, many firms were forced to go fully remote; however, as we move into the post-COVID era, there has been a significant tug-of-war between returning to the office or remaining remote. Those who advocate for a return to the office wish to go back to the way things were – arguing in-person work creates culture, trains staff and allows leaders to lead.

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What Is Quick Ratio? Learn How to Swiftly Calculate This Metric

Patriot Software

Does your business have enough liquid assets to cover short-term liabilities in a pinch? To find out, you can use the quick ratio. Keep reading to learn the quick ratio definition, how to calculate your ratio, and more. What is quick ratio? The quick ratio (aka liquidity ratio or acid test ratio) measures liquidity and […] READ MORE.

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An Essential Guide to Accounting and Basic Accounting Principles for Beginners

Snyder

It can be hard to keep up with new opportunities and technologies in our rapidly changing and evolving world, especially in a professional field such as accounting. Old tricks aren’t always relevant today, so whether they like it or not, people must adapt, whether it’s a business owner who needs to learn at least the basics, or a busy accountant who’s trying to find something new to help with their workflow.

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Behavioral Red Flags of Financial Fraud

FraudFiles

There are a number of common signs that we may see when someone is engaged in financial fraud within a company.

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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.