Thu.Sep 21, 2023

article thumbnail

Digital transformation beat expectations, but profits lag

Accounting Today

A KPMG poll found more than half of businesses say digital transformation initiatives have exceeded expectations for ROI but this may not necessarily translate into more profits.

article thumbnail

72% of U.S. Workers Have an Unhealthy Relationship with Their Jobs, Survey Finds

CPA Practice

By Shalene Gupta, Fast Company (TNS) If you work a traditional 9 to 5, you spend at least a quarter of your life at work, if not more. Ideally, these hours should be delightful, at worst tolerable, but that’s not always the case. HP surveyed 15,000 employees in 12 countries and asked them about their relationship with work. Overall, the picture is grim.

111
111
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Small businesses face new family leave and pay requirements

Accounting Today

Businesses have been dealing not only with inflation and rising interest rates, but also new requirements for family leave, minimum wage increases, and pay transparency rules.

payroll 113
article thumbnail

Survey: Two-Thirds of Gen Zers Never Fully Read Job Contracts

CPA Practice

By Michael Grothaus, Fast Company (TNS) Many members of Gen Z are entering their post-college years, and that will mean experiencing many firsts in their lives: getting their first professional job, renting their first apartment, applying for their first mortgage, and buying their first health insurance policy. And with all these firsts come legal contracts that should be read in full before signing.

Legal 111
article thumbnail

Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

article thumbnail

Positional Value and Its Impact on Saquon Barkley’s Contract

Withum

Withum has been analyzing the increasing wage gap in the NFL and how it affects various positions. The position that has been affected the most has been that of the running back, whose contracts have been declining over the years. We will look at the case of Saquon Barkley , New York Giants running back, whose contract situation was a microcosm of the entire running back ecosystem.

Sports 111
article thumbnail

The crucial role of document management in accounting firms

Accounting Today

In the complex world of finance and accounting, precision is paramount. Every transaction, every number, every document, and every piece of data holds immense value.

More Trending

article thumbnail

It’s a Bad Day For Your Firm When the Board of Accountancy Has to Publish Advice For Your Aggrieved Clients

Going Concern

On Tuesday the Tennessee Department of Commerce & Insurance (TDCI) published an alert for customers of Chattanooga-based “accounting firm” JD Frost & Company, also known as Croft & Frost , also known as a nuclear dumpster fire wearing a ratty T-shirt with the words “TOTALLY REAL ACCOUNTING FIRM” sloppily screen-printed on it.

Tennessee 109
article thumbnail

Most Americans Haven’t Had a Pay Raise in 3 Years

CPA Practice

By Kathryn Pomroy, Kiplinger Consumer News Service (TNS) The average American employee hasn’t received a raise in three years, a new survey shows , reflecting the disconnect between rising inflationary pressures and wage growth. The survey of 2,000 American adults was conducted by OnePoll, an international market research agency, on Aug. 31, 2023. Participants were asked when they last received a pay raise.

article thumbnail

Look What PwC Made the Australian Government Have to Do

Going Concern

The Australian government released exposure draft legislation yesterday in response to “the PwC matter” and the funniest part is the special email they made to receive comments: PwCResponse@treasury.gov.au. Not ConsultingReponse or Sept23TaxReform, specifically PwC Response. In four separate exposure drafts that amend the Taxation Administration Act 1953 (TAA) and/or the Tax Agent Services Act 2009 (TASA), the government is seeking stakeholder comments on proposals that would strongl

article thumbnail

IRS moratorium on new ERC claims puts spotlight on preparers

Accounting Today

The Internal Revenue Service is encouraging employers to work with qualified tax professionals rather than shady promoters.

Tax 125
article thumbnail

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.

article thumbnail

State Pass-Through Entity Tax Updates: September 2023

Cherry Bekaert

Colorado The Colorado Department of Revenue (DOR) recently created an informational section on its website specifically for the state’s pass-through entity (PTE) Tax election. This SALT Parity Act Election landing page contains guidance and links for current and future elections, as well as newly issued guidance for making retroactive 2018-2021 tax year elections.

Minnesota 101
article thumbnail

5 Essential KPIs to Track for Your Growing Business

AccountingDepartment

As a growing business, it's essential to monitor and track various key performance indicators (KPIs). This is crucial in assessing the performance of your business, determining the areas that need improvement, and making informed decisions.

100
100
article thumbnail

Revived Andersen accounting firm sees revenue up 19% this year

Accounting Today

The consultancy, created by former partners of Arthur Andersen, expects revenue to exceed $1.9 billion this year.

article thumbnail

Leadership and Empowerment for Business Owners: A Story

SkagitCountyTaxServices

Let me begin by noting, if you were looking to file for the Employee Retention Credit this year, heads up that the IRS isn’t processing any new claims through the end of the year. This is an effort to keep you out of hot water if you shouldn’t be claiming the ERC and to crack down on any questionable claims resulting from aggressive marketing for it.

CPA 82
article thumbnail

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.

article thumbnail

AI for accounting marketing: A SWOT analysis

Accounting Today

A look at the strengths, weaknesses, opportunities and threats of tools like ChatGPT in promoting professional services.

Account 113
article thumbnail

Why Profits Don't Equal Cash Flow

GrowthForceBlog

8 min read When small business owners get their monthly financial statements, their eyes quickly focus on the bottom line of the income statement.

article thumbnail

Tax Fraud Blotter: Notable criminal histories

Accounting Today

Charity for none; Dr. Backdate; frivolous correspondence; and other highlights of recent tax cases.

Tax 110
article thumbnail

Canon imageFormula R40 Receipt Edition

Insightful Accountant

Murph checked out the Canon imageFormula R40 Receipt Edition for QuickBooks Online. See how it captures receipts, extracts key data, and sends the data and image to QuickBooks in a few clicks, and handles other documents just as well.

article thumbnail

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

article thumbnail

Juror who made race comments removed from $1.3B tax case

Accounting Today

A trial threatened to descend into chaos after 12 jurors clashed over race and class while weighing charges against a wealthy developer and two others accused of arranging $1.3 billion in phony tax deductions.

Tax 66
article thumbnail

Revived Andersen Accounting Firm Sees Revenue Up 19% This Year

CPA Practice

By Yinka Ibukun, Bloomberg News (TNS) Andersen Global, a professional services firm cobbled together from the remains of the collapsed accounting giant Arthur Andersen, is on track to generate a 19% increase in revenue this year. The consultancy, created by former partners of Arthur Andersen, expects revenue to exceed $1.9 billion this year, Chief Executive Officer Mark Vorsatz said in an interview.

article thumbnail

Mendlowitz establishes scholarship at Baruch

Accounting Today

The accounting icon has found yet another way to give back in addition to his teaching, mentoring, writing and many other contributions to the profession.

Account 66
article thumbnail

Eide Bailly to Merge in California CPA Firm Raimondo Pettit

CPA Practice

Top 20 accounting firm Eide Bailly is growing its presence in Southern California by combining with Torrance, CA-based Raimondo Pettit Group. The merger, which will bring six Raimondo Pettit partners and 55 staff into Eide Bailly, is expected to happen on Oct. 30, according to a press release. “RPG’s rich history and industry depth make them an ideal partner with Eide Bailly.

article thumbnail

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.

article thumbnail

People Management in Local Government Finance Departments

LSLCPAs

While it’s something that has always been important, managing people and the tools and ways in which we do that has become more important than ever. The where and how we are working has likely changed forever in this post-COVID world, and presented new opportunities and challenges when it comes to managing people. People Management. The post People Management in Local Government Finance Departments appeared first on LSL CPAs.

article thumbnail

6 Ways Email is Secretly Destroying Your Accounting Firm

Going Concern

Email: The word itself sounds innocent, doesn’t it? Kind of like “snail mail,” but faster, sleeker, and without the slimy trail. But don’t be fooled—email is secretly a sinister beast, hiding in the shadows as it plots to destroy businesses—including your accounting firm. If your accounting firm still relies heavily on email for client communication and document management, you’re not in the fast lane—you’re on the road to ruin.

article thumbnail

Roman Kepczyk | The Power of Cloud Solutions for Accounting Firms of All Sizes

Insightful Accountant

Gary DeHart and Roman Kepczyk, CPA, discuss the importance and advantages of hosted/remote/cloud based solutions for accounting firms of all sizes.

article thumbnail

How to recruit the next generation of CPAs

Accounting Today

Accounting firms need to be bolder with their recruiting, and these four strategies can help.

cpas 88
article thumbnail

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.

article thumbnail

Partners at PwC in Australia Brace for Pay Cut as Tax Scandal Hits Profit

CPA Practice

By Irina Anghel, Bloomberg News (TNS) PricewaterhouseCoopers Australia will cut partner pay by 30% next year following the tax document leaking scandal that wiped out profit for 2023. Kevin Burrowes, who was appointed chief executive officer in June after former boss Tom Seymour stepped down in the wake of the scandal, apologized for past failures in leadership.

Tax 52
article thumbnail

ARE YOU READY FOR BUDGET SEASON?

Basis 365

The budget season has begun, and now is the time to start planning your 2024 plans. Are you prepared? A business owner must recognize the importance of a well-defined budget for the new year. Budgeting involves identifying opportunities and setting goals that will help keep doors open in the coming year. It also includes accelerating growth. Budgeting for next year isn't as tricky.

article thumbnail

PwC Partner Pay Drops Below £1 Million as U.K. Profit Declines

CPA Practice

By Irina Anghel, Bloomberg News (TNS) Partners at the U.K. arm of accounting giant PricewaterhouseCoopers LLP will see their pay drop below £1 million ($1.27 million) this year, as it reported a decline in profit. PwC will pay its U.K. partners an average of £906,000 for the latest financial year, less than the record £1.02 million its partners received in 2022 after they shared profits worth £920,000 each, as well as a £100,000 bonus.

audit 52
article thumbnail

Four Tips to Connect Your Remote Team

Summit CPA

Just ten years ago, remote work was practically science fiction. (Actually, when I first brought up the idea to my team, they thought it was the “joke of the week.”) Today, it’s a part of the business landscape. There are lots of reasons why companies, employees and clients love remote work: flexibility, an expanded workforce, and a larger client-base, to name a few.

CPA 52
article thumbnail

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.