AccountingDepartment
JANUARY 4, 2023
Most business owners and managers are busy to the point that they overlook the signs that indicate it is time to outsource bookkeeping and/or accounting projects to outside specialists. Instead of attempting to do everything in-house, trust the bookkeeping services professionals to complete numbers-related projects on your behalf.
RogerRossmeisl
JANUARY 4, 2023
At the heart of every successful buy-sell agreement are well-reasoned business valuation provisions. By thinking through valuation matters and anticipating potential sticking points while the owners are on good terms, you can help facilitate future buyouts — when relations might be strained. Estimating value Several possible valuation approaches can be used to set the price in a buy-sell agreement.
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SMBAccountant
JANUARY 4, 2023
New rules are going into effect for lease accounting which may change how small businesses who follow Generally Accepted Accounting Principles (GAAP) think about and reporting leases. Under the old rules, financial reporting requirements were determined based on whether a contract was considered a capital or operating lease. Capital leases were leases of equipment or large assets.
RogerRossmeisl
JANUARY 4, 2023
If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using the last in, first out (LIFO) inventory method. That’s because of the LIFO recapture income that will be triggered by converting to S corporation status. Consider computing in advance what the tax on this recapture would be and to see what planning steps might be taken to minimize it.
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.
Withum
JANUARY 4, 2023
As we begin 2023, we are still seeing many businesses that have not yet claimed the employee retention credit (“ERC”) , and the potential benefit of this credit has attracted many inexperienced service providers making exaggerated promises in exchange for outsize contingency fees. In fact, these service providers have become so prevalent that the IRS, in a relatively unprecedented move, released a warning to taxpayers to be wary of third parties advising them to claim the ERC when they do not qu
RogerRossmeisl
JANUARY 4, 2023
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules Renting out a home or apartment that you own may result in a tax loss for you, even if the rental income is more than your operating costs. You’ll be entitled to a depreciation deduction for your cost of the house or apartment (except for the portion allocated to the land).
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Intuitive Accountant
JANUARY 4, 2023
ADP's David Palmieri explains how this powerful tool can help your clients manage their workforce.
Going Concern
JANUARY 4, 2023
The last of the 2021 Big 4 PCAOB inspection reports belongs to KPMG, which has had the highest audit deficiency rate of the four firms for six out of the previous seven years —the lone exception being 2019. Make that seven out of the last eight: In the 2021 inspection of KPMG LLP, the PCAOB assessed the firm’s compliance with laws, rules, and professional standards applicable to the audits of public companies.
Patriot Software
JANUARY 4, 2023
Forty-five states and Washington D.C. have some type of state sales tax. Some states might even have different sales tax rates or rules for local taxes or online sales. Chances are, your business is probably in a state with sales tax. To remain compliant, you must know sales tax laws by state. Read on to […] Read More.
Canopy Accounting
JANUARY 4, 2023
When you think of tax season, does burnout come to mind? I haven’t conducted a formal poll, but my guess is the answer would be “yes” for many CPAs and accountants. In preparing to write this blog, I did what I usually do – start with the definition.
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.
Patriot Software
JANUARY 4, 2023
Economic nexus has taken the nation by storm. With the majority of states establishing economic nexus laws (46 states to be exact), it can be hard to keep up with all of the rules and changes. Regardless of if you have in-person or online sales, you need to know whether the state you’re selling in […] Read More.
Intuitive Accountant
JANUARY 4, 2023
Avoiding common mistakes with critical, but simple questions, a lot of people get confused within the formal application for Top 100. Murph offers some tips and tricks to avoid those problems.
Patriot Software
JANUARY 4, 2023
You may have heard the phrase “If you have time to lean, you’ve got time to clean.” It’s a saying beloved by managers across the country and cuts to the core of the nonexempt employee/wage relationship. Nonexempt employees get paid because they work for a certain period of time. But what if an employee is […] Read More.
Going Concern
JANUARY 4, 2023
Ed. note: I couldn’t find a good image to go with this post so I’m using this dog. Dogs are always good. According to the AICPA , a traditional four-year undergraduate program is not adequate for obtaining the requisite knowledge and skills to become a CPA. The reasons offered for this center around the increasing complexity of public accounting practice; there are more rules and regulations, the knowledge base has greatly expanded, the CPA’s toolkit is expected to be more vari
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.
Lockstep
JANUARY 4, 2023
If you manage accounts receivable (AR) and accounts payable (AP) for your business, you know how important it is to have a system in place to keep track of all incoming and outgoing payments. A shared accounting inbox can be a great way to do this, as it allows both AR and AP managers to see all payments in one place. In this blog post, we’ll explore the benefits of using a shared inbox for AR and AP management.
Basis 365
JANUARY 4, 2023
Business owners should consider outsourcing their accounting to a third-party service provider. These points will help you narrow down the options to find the right one. These include the service's price, the provider's reputation, and company size. In addition, it is essential to review the accounting procedures that the outsourcing company uses. Although outsourcing accounting can give business owners greater control and a better understanding of their finances, it is crucial to choose the rig
Withum
JANUARY 4, 2023
We are rapidly entering a bright new era of food culture. The food of tomorrow will be markedly different from the food of the past. The topic of food sustainability is perhaps the hottest trend in the food and beverage industry. Consumer preferences have radically changed the landscape of the food ecosystem from an industrial-scale supply and affordability paradigm to a trend toward a more individualized approach that prioritizes planet-friendly production techniques.
Advertiser: Paycor
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.
Accounting Today
JANUARY 4, 2023
KROST
JANUARY 4, 2023
This is one of the articles in the KROST Quarterly Hospitality Issue, titled “KROST HR Solutions For Restaurants & Other Small To Medium-sized Businesses” by Lisa Arangua Did you know that KROST offers Human Resource Solutions to companies that do not have access to, or resources for full-time HR personnel? We recently spoke to Lisa Read the full article.
Accounting Seed
JANUARY 4, 2023
Even in the 21st century, it’s still possible to do your bookkeeping with paper spreadsheets or account books. If manual accounting works for you, nobody can force you to change. Accounting standards are the same whether you use ledgers or laptops. Though as your business grows, the number of transactions you need to record grows too. Manual bookkeeping becomes a drain on your time, and the odds of making serious errors go up.
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.
Accounting Today
JANUARY 4, 2023
Intuitive Accountant
JANUARY 4, 2023
Internationally renowned ProAdvisor Esther Friedberg Karp shares tips for working with foreign currency in QBO and QuickBooks Desktop Charts of Accounts.
Reckon
JANUARY 4, 2023
When trying to be found online, there’s been a shift in consumer behavior you need to be aware of. More than ever, potential customers will find your business by searching ‘near me’ on Google Maps instead of a regular Google search. Furthermore, an increasing number of customers will also filter out their options by only considering businesses with 4 stars or above.
Advertiser: Paycor
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.
DMCL
JANUARY 4, 2023
We’re excited to announce two new additions to our partnership effective January 1, 2023. Our private enterprise services team is proud to welcome Ellen Tran as a partner. Ellen started with DMCL in 2016 after spending the early days of her career at two other comparable local mid-size firms. Her wealth of knowledge and breadth of experience make her a valued resource for all her clients.
Going Concern
JANUARY 4, 2023
Listen to Oh My Fraud , a podcast by Caleb Newquist and Greg Kyte, and get free CPE through Earmark. . The post Exposure Drafts: Happy Same As Last Year! appeared first on Going Concern.
Accounting Insight
JANUARY 4, 2023
Progress in developing routes into the accountancy profession, but recruitment and retention a challenge. The global professional body, the Association of Chartered Certified Accountants (ACCA), which trains and supports around 10,000 students and members working in accountancy and finance across Scotland, has highlighted the unprecedented scale and pace of employment flux in its response to the Scottish Government’s review of skills.
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.
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