Mon.Jul 25, 2022

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Letter to the Editor: Small Firms Are Suffering in This Market, Does Anyone Care?

Going Concern

We received the following from a small firm owner who is suffering under the weight of talent shortages, massive workloads, and hoards of would-be clients shopping around because their accountant (rightly) raised their fees. What’s a small firm to do? I have a small firm in [redacted]. I have been reading constantly about how the large firms are merging, paying more for top talent, taking people away from other firms, etc. due to the natures of the current accounting marketplace.

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Orange County Business Journal Names Withum a Best Place to Work

Withum

Orange County Business Journal named Withum as a 2022 Best Place to Work in Orange County. Ranking at #19 on the list of large companies, Withum’s Irvine office was praised for its unique office culture and fun team member perks. The list was designed to identify, recognize and honor the best places of employment in Orange County, California, benefiting the county’s economy, workforce and businesses.

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A Holistic Approach to Diversity | Canopy

Canopy Accounting

Diversity and inclusion (D&I) efforts in many organizations are starting to lose momentum. The reasons vary widely—from narrowly defined strategies, unclear goals, or emphasizing training over systemic inequities. Since the death of George Floyd , companies have made meaningful strides in acknowledging the importance of and expressing a commitment to diversity and inclusion.

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Withum Earns 100 on Disability Equality Index® (DEI)

Withum

Withum is proud to share that Disability:IN, a global organization driving disability inclusion and equality in business, in partnership with the American Association of People with Disabilities (AAPD), awarded Withum a score of 100 on their annual index. The Disability Equality Index® (DEI) is the world’s most comprehensive benchmarking tool for the Fortune 1000 and Am Law 2001 to measure disability workplace inclusion.

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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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Monday Morning Accounting News Brief: EY Sucks at Auditing; Accounting Headaches; KPMG Partner Banned | 7.25.22

Going Concern

Some headlines to get you started on this fine Monday: KPMG partner banned from accounting after misleading regulator over Carillion. KPMG fined £14.4 million after the firm admitted to providing false and misleading information to its regulator during spot checks on audits of construction firm Carillion and outsourcing firm Regenersis. The spread of ESG labels into the $55 trillion market for short-term debt is creating new accounting challenges for those keeping track of how much good green fi

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My Cotton Mill Work Ethic

Intuitive Accountant

Insightful Accountant Top 100 ProAdvisor Susan Pruskin explains how some valuable lessons from her upbringing are still helping her succeed today.

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More Trending

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Qvinci – A July 2022 Analytics/Report App Synopsis

Intuitive Accountant

When it comes to analytics, reporting, consolidation, data access and supporting data-centric professionals, Qvinci just keeps getting better. So, why would you not expect to see them in our July 2022 series?

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How we’re improving employee and off payroll workers profiles in UK Payroll

Xero

If you’ve set up an off-payroll worker in UK Payroll, you might have noticed that it looks different from employee setup. To provide you with the best possible experience and deliver a more consistent look and feel across our platform, we’re rolling out an updated design of employee profiles in a few weeks’ tim e. . This is all part of our work to upgrade the technology that underpins our platform , so we can build new features faster than ever before.

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Can a Tip Reporting Sheet Simplify Your Life? Yes! Here’s How.

Patriot Software

Do some or all of your staff make a good deal of their income off of tips? Wait staff, bartenders, and taxi drivers depend on tip income. Just like wages, tips have a few tax-related requirements that come with them. If your employees make more than $30 per month in tips, you may wonder how […] READ MORE.

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Paren Knadjian to Guest Speak at Ask the Experts

KROST

Our M&A and Capital Markets Principal, Paren Knadjian, will be a guest speaker at the upcoming Ask the Experts event hosted by SBA Orange County / Inland Empire District Office. The event will take place online on Tuesday, August 2, 2022, from 2pm-3pm PDT. There will be a live Q&A session for all attendees to Read the full article. The post Paren Knadjian to Guest Speak at Ask the Experts appeared first on KROST.

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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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COVID-19 Grants and Credits Still Available for NY Businesses

Withum

Although most federal funds related to the COVID-19 pandemic have been exhausted, small businesses in New York are still eligible to receive sizeable grants and credits created by Governor Hochul’s Executive Budget. Specifically, two NY small business programs currently offer small business owners upwards of $75,000 in grants and credits. NY COVID-19 Capital Costs Tax Credit Program.

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QBO Monday Minute: Your Mid-year Accountant Tips

Intuitive Accountant

Don't look now, but we have moved past the mid-year point. To help stay on top of your game, Liz Scott is offering 5 nuggets you can put into place right now.

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Investing in a Massachusetts Life Sciences Company and Want To Save Taxes?

Withum

Investors funding early-stage life sciences companies in Massachusetts may be eligible for generous tax incentives under M.G.L. c. 62, § 6(t). Learn about the Angel Investor Tax Credit and who qualifies, potential tax savings, and how to monetize those savings. Which Investors Qualify? Investors must be “accredited” investors. Accredited investors are defined as such by the U.S.

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Taking Back Purchase Control as Inflation Soars

Accounting Insight

Already exceeding 9% in the UK, inflation is set to hit an eye-watering 11% before the end of the year, according to the Bank of England. That’s due to the huge hike in fuel, energy, food and raw material costs, in the wake of the pandemic, Brexit and the war in Ukraine. Producer output prices , which measure the cost of goods leaving factories, were up nearly 16% over the year to May – the steepest rise in 45 years, ONS notes.

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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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4 Invoicing Tips for Small Businesses

Intuitive Accountant

If invoicing is the basic building block of revenue, why can it be so challenging? Here are 4 tips for streamlining your process and helping make it the foundation of your business growth.

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How Synder helped American Hospital Supply categorize and sync transactions with Synder Sync and Smart Rules

Snyder

American Hospital Supply. American Hospital Supply sells equipment and products that are related to medical, surgical, point-of-care, laboratories, orthopedics, and veterinarian products. They have served the Caribbean region for over 50 years, and are viewed as an expert source for all things medical. Selling supplies on multiple platforms, they had a challenging time entering their sales to their books with accurate inventory, SKUs, and tracking fees.

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6 advantages of outsourcing your Ecommerce accounting

Basis 365

Many eCommerce business owners are afraid to mention the term "outsourcing" because of how often they hear it. It is not uncommon for outsourcing work to be stigmatized. As many people fear they will need to downsize or lose control of the company, they have built. However, you can enjoy many advantages by outsourcing your eCommerce accounting. Reason #1 - It saves you time Everyone could use a little more of our time.

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Integration with E-commerce Platforms: a Short Feature Overview

Snyder

Why is integration with e-commerce platforms so important? Accounting software is a major part of the operations for many businesses. It helps track expenses, manage books, and maintain financial records with ease. These technologies make it easier for businesses to manage their finances. With the integration with the right accounting software, you can reduce the accounting workload and save time by automating many tasks.

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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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Withum’s Pete McGuigan Named New Jersey’s Big Brother of the Year

Withum

Withum is delighted to share that Pete McGuigan , Partner in the Red Bank office, has been honored as Big Brother of the Year by Big Brothers Big Sisters State Association of New Jersey. Pete was matched with his Little Brother, Daniel, over 12 years ago. Since Daniel was six, he and Pete would adventure locally together, enjoying fun, active activities like playing sports and sledding in the wintertime.

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Tax-efficient finance for your company

Inform Accounting

HMRC have recently updated their guidance for companies looking to attract investors to buy shares in their company. If structured correctly, and if the company qualifies under the Enterprise Investment Scheme (EIS) or the Seed EIS rules, the investors can potentially take advantage of a number of generous tax breaks. Under the EIS, the company can raise up to £5 million each year, with a maximum of £12 million raised in the company’s lifetime.

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Foster a Culture of Integrity in Your Company

FraudFiles

The average business loses approximately 5% of revenues to employee fraud. The employees are running off with money, fixed assets, and business opportunities. They are taking kickbacks from suppliers who overcharge for their products and services, and pushing contracts toward friends and relatives. Executives are manipulating financial statements to increase stock prices and impress lending institutions.

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Tesla’s Bitcoin dump leaves accounting mystery in its wake

Accounting Today

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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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E-Commerce Analytics Tools

Snyder

Today’s world is driven by data. Businesses that are able to effectively collect and analyze data have a significant advantage over their competitors, and the e-commerce industry is no different. In order to be successful, e-commerce businesses need to use the best business analytics tools available. There are many different business analytics tools on the market, and it can be overwhelming to try to figure out which ones are the best for your business.

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Inside CAS 2.0

Accounting Today

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SEC insider trading case against Coinbase holds larger implications

Accounting Today

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Companies unsure of leasing costs and accounting transition

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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Larry Summers says raise taxes ‘right now’ to help battle inflation

Accounting Today

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Competing interests in financial planning

Accounting Today

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KPMG U.K. sanctioned over Carillion and Regenersis audits

Accounting Today

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Art of Accounting: The 1/20th marketing rule

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.