Wed.Jul 19, 2023

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Beyond Financials: Boost Profitability and Transform Data

Summit CPA

The landscape for digital agencies has shifted. Over the last twenty years, there’s been a downward pressure on margins. People want to get paid more, clients want to pay less, and the 80-hour work week is a thing of the past (thank goodness). To protect margins, agencies end up developing more complex billing and staffing models: combinations of full-time employees and freelancers working together on the same projects.

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How the best procurement software fuels growth for unicorn companies.

Airbase

For most unicorns, the average time from initial concept to the coveted $1B+ valuation is about seven years. Over that time, these companies go through many rapid stages of evolution. In this often chaotic push for growth, the prime focus is on obvious revenue drivers, like product development and creating a scaled go-to-market motion. Unless they are a hardware company, having an optimum procurement system is not a typical priority in those early growth stages.

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Someone Tell Hong Kong There Is Not an Unlimited Supply of Offshore Accountants and Auditors

Going Concern

Hong Kong is suffering from “a serious talent shortage” according to an article today in South China Morning Post and The Hong Kong Association of Registered Public Interest Entity Auditors (PIEAA) says accounting firms should start looking overseas. Who knows, maybe they’ll find a hidden cache of accountants and auditors stashed away on North Sentinel Island.

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The clock is ticking on beneficial ownership reporting

Accounting Today

Starting Jan. 1, 2024, many small businesses will face a major new reporting requirement — and many of them are completely unaware of it.

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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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IRS Enforcement Sets Its Sights on Millionaires

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS allocated some of its funding from the Inflation Reduction Act to tax enforcement, and tax-evading millionaires and billionaires are targets. The agency has already closed approximately 175 delinquent tax cases, resulting in a $38 million payday for the U.S. government. With billions of dollars of potential IRS funding on the line (some of which Republican lawmakers have clawed back ), the agency is motivated to continue tax co

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The 259th Largest Accounting Firm Just Skipped the Line to Number 20 With Wipfli Merger

Going Concern

Milwaukee’s Wipfli — one of the only top 25 firms on Accounting Today’s 2023 Top 100 to have lost partners — announced on Monday it has entered into a merger agreement with Clayton & McKervey, the itty bitty Southfield, MI firm we mentioned in January for their partnership with Adrian College to help unlicensed staff pursue a master’s.

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Puerto Rico helps IRS investigate tax dodgers

Accounting Today

The island's top economic development official says he's actively cooperating with U.S. tax authorities as they investigate about 100 high-income individuals.

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FAFSA Changes Rules on 529 Plans, Making It Easier for Grandparents and Others to Help Students

CPA Practice

By Billie Jo Weis. The long-awaited changes under the FAFSA Simplification Act will finally see the light of day in December when the U.S. Department of Education releases the FAFSA (Free Application for Federal Student Aid) for the 2024-2025 academic year. One of those changes will be welcome news for grandparents who have the means and the desire to help pay for their grandchild’s college education.

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Q&A with England Football legend Karen Bardsley

Xero

Ahead of the FIFA Women’s World Cup 2023, we sat down with Karen Bardsley to find out her perspective on the growth of the women’s game. Karen was goalkeeper for the England Women’s team, and she played for and now oversees the women’s teams at Manchester City F.C. Q: When you were younger, did you dream of becoming a professional footballer or did you have another career in mind?

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Workers Have Multiple Home Office Options

CPA Practice

By Diana Melichar. The pandemic sent a lot of us, including our clients, scurrying to find work-from-home spaces in our houses. Even though companies are now pressuring employees to return to offices, remote work – whether full time or hybrid – is here to stay. Only 4 percent of high-paying jobs were remote before the pandemic. That rose to 9 percent by the end of 2020, and it’s more than 15 percent today.

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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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AI is not the enemy of accounting, but an enabler of progress

Accounting Today

While artificial intelligence does have the ability to take on some aspects of an accounting professional's role, there's no reason to fear the worst just yet.

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Wipfli Merges In Michigan CPA Firm Clayton & McKervey

CPA Practice

Top 20 accounting firm Wipfli is combining with Southfield, MI-based CPA firm Clayton & McKervey, effective Sept. 1. Clayton & McKervey is the 259th biggest accounting firm in the U.S. by revenue , reporting nearly $16.4 million during its most recent fiscal year, according to INSIDE Public Accounting. Once the transaction is completed, more than 90 shareholders and associates from Clayton & McKervey will join Milwaukee-based Wipfli’s workforce of approximately 3,200 professionals.

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Boomer's Blueprint: When change management isn't enough

Accounting Today

Accounting firms need to get ready for the surprises that lead to increased learning and knowledge.

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Top 8 Features of QuickBooks Enterprise for Manufacturing Businesses

Ace Cloud Hosting

Some aspects of accounting are universal to all businesses, such as recording transactions, collecting revenue, and paying bills. But accounting for a manufacturing business involves some unique ones. The manufacturing.

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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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Murph Presents: "Tales from the Niche"

Insightful Accountant

Continuing his series on clues for Top 100 2024 candidates from this year's award winners, Murph presents 'Tales from the Niche.

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Xero’s D&I commitment and support of the Indigenous Voice to Parliament in Australia

Xero

Xero’s commitment to diversity and inclusion (D&I) across our global business extends to championing D&I in the communities in which we operate, including Indigenous communities globally. We believe driving better D&I outcomes can help amplify our positive impact on the world. This commitment aligns with our values and our purpose to make life better for people in small business, their advisors and communities around the world.

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How I Created a Hyper-Scalable Professional Services Business

Ryan Lazanis

I am able to scale my Future Firm business over the years, with over 700 active paying customers while having a consistent 30-hour workweek. In this podcast episode, I shared my insights and strategies that allowed me to accomplish such feat, and hopefully inspire you when you want to create a scalable business model. Listen Below. 0:57 – My firm excelled in scalability due to our selective client approach, streamlined workflow, predefined package offerings, and a highly effective team. 1:

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Former Wirecard COO sends sign of life three years after vanishing

Accounting Today

Jan Marsalek was a key figure at Wirecard before its implosion in an accounting scandal in June 2020.

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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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Microsoft Inspire 2023: Top News in AI, Copilot, Bing Chat 

Withum

It’s one of our favorite times of the year! Microsoft’s annual partner-focused event, Inspire, took place this week with no shortage of updates and announcements about Microsoft 365 and its collaboration and productivity tools. Big theme this year? Artificial Intelligence, of course. Although the event is designed to provide insights and strategies for Microsoft partners, there are a few exciting releases to share that will empower everyone to work in a new AI-powered way.

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FBI raids posh wine retailer

Accounting Today

The store faces lawsuits from customers for alleged failure to deliver prepaid wine, is delinquent on $2.8 million in taxes, and reportedly could be evicted from its midtown home.

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Common Challenges: Brewery Research and Development Tax Credit

Withum

The Brewery R&D (Research and Development) Tax Credit is a government incentive program designed to encourage innovation and technological advancements in the brewing industry. While it offers significant benefits to breweries engaged in qualifying research activities, some challenges can be associated with claiming and maximizing the R&D Tax Credit.

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Baker Tilly global CEO sees growth across network

Accounting Today

Baker Tilly International CEO Francesca Lagerberg has been presiding over the accounting firm network for over a year and overseeing growth at a time when some of its Big Four rivals seem to be retrenching on their staff numbers.

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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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British businesses turning to accountants for help with economic hardship

Accounting Insight

New research from payroll, employment and HR platform Employment Hero shows British businesses are increasingly asking their accountants for help with economic hardship. The survey asked 313 UK accountancy, payroll, and other professional service firms what had changed in their clients’ needs and expectations in the last 12 months. The most popular answer was “clients wanted greater discounts/price flexibility” which 29% of respondents selected.

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KPMG launches summer internship program

Accounting Today

This summer, KPMG launched the inaugural KPMG U.S. Empower High School Experience, a three-week paid internship focused on introducing high school students to accounting careers.

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What are the risks of extending more credit?

Menzies

Menzies LLP - A leading chartered accountancy firm. In every business cash is an important factor; therefore managing cashflow properly is crucial. Making sales on credit terms is a normal and expected component of doing business in many sectors. However, situations may arise where customers want to place orders above the agreed levels of credit. This can occur for various reasons, so how should business owners respond?

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Vendor Spotlight: OneStream Software

Accounting Today

OneStream Software CEO Tom Shea discusses the corporate performance management platform's growth and future plans.

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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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Financial Expert’s Role in a Family Law Case

FraudFiles

A financial expert’s assistance with the discovery process can be invaluable to the family law attorney. By virtue of the expert’s familiarity with personal and business financial documents, the financial expert can play an important role in the discovery process.

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Data Advocacy With Dance Data Project

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post Data Advocacy With Dance Data Project appeared first on Withum.

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PCAOB unveils new filters for inspections database

Accounting Today

The board unveiled six new search filters for its inspection report database, allowing new ways to compare and analyze reports.

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HubSync Unveils Gateway: Redefining Client Experience for Audit and Tax Professionals

CPA Practice

HubSync Co., a SaaS software company with a next-generation tax and accounting automation platform , has launched Gateway. The centralized dashboard empowers CPA firms of all sizes, providing seamless navigation across the audit and tax landscape. With access to HubSync’s end-to-end audit and tax platform, Gateway offers real-time status reporting and customizable set-ups for internal, corporate, and individual clients, ensuring 360-degree visibility regardless of size, complexity, or location.

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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.