Do we need accounting firms?
Accounting Today
AUGUST 26, 2022
Fri.Aug 26, 2022
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Anyone Looking Forward to a Highly Militarized IRS SWAT Team is Going to Be Sorely Disappointed
Going Concern
AUGUST 26, 2022
Because the IRS SWAT team memes your crazy aunt Kathy is spreading on Facebook are getting out of control, the AICPA has stepped forward to clarify: no, there will not be 87,000 armed IRS agents deployed to bang down the doors of American taxpayers. From the Journal of Accountancy : Reaction to increased funding for IRS operations in the Inflation Reduction Act, P.L. 117-169, enacted Aug. 16, has featured “heated rhetoric,” but the act has also prompted real concerns regarding how th
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For Payroll Adjustments, There’s Retro Pay
Patriot Software
AUGUST 26, 2022
Sometimes, payroll mistakes happen. If you pay an employee less money than you should have during a pay period, you owe them retro pay. What is retro pay? What is retro pay? Retro pay, or retroactive pay, is the compensation you owe an employee for work performed during a previous pay period. The difference between […] READ MORE.
Avoiding Stock Market Ups and Downs
Withum
AUGUST 26, 2022
You cannot avoid stock market ups and downs. There will always be volatility and changes. Actually, the stock market is a vast auction, and for every seller, there is a buyer. When more people are selling, prices drift downward. When more want to buy, prices increase. Buyers see opportunities where sellers see threats. There are many situations reported in the financial news of some hotshot investors selling stocks that then increase greatly soon afterward.
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Xero Sponsors 3 Diversity Scholarships
Intuitive Accountant
AUGUST 26, 2022
Inaugural NABA Inc. 'Mary T. Washington Award' and ALPFA scholarships presented at Xerocon New Orleans.
The Dangers of Doing Payroll by Hand and How to Avoid Them
Patriot Software
AUGUST 26, 2022
Doing payroll by hand can save your business money—if you do it correctly. There are all sorts of laws, calculations, and taxes that you have to implement with precision. But, small business owners are busy, and many who do payroll by hand often make costly mistakes. If you make a mistake, you may owe back […] READ MORE.
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.
Friday Footnotes: KPMG Downsizes (Office Space); CPA CPA CPA; Some Good News on Diversity | 8.26.22
Going Concern
AUGUST 26, 2022
Ed. note: apologies to the individual who criticized last week’s Footnotes headline for being too clickbaity and scary, our bad. This week’s consciously informative headline is just for you, buddy. While you’re here, allow us to pester you to sign up for our newsletter to get accounting headlines twice a week. Happy weekend! Big 4.
Xero, Pinion IO win 'AgTech Finance Solution of the Year'
Intuitive Accountant
AUGUST 26, 2022
The partnership helps farmers and agribusiness owners make more profitable choices.
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.
The Million Dollar Question: What Are Payroll Taxes Used For?
Patriot Software
AUGUST 26, 2022
With each payroll, you and your employees have to pay taxes. You collect and remit the money, but what are payroll taxes used for? What does the government do with that money? If you’re curious, read on. We’ve got a list of each employment tax you withhold and/or contribute and where the money goes. Psst […] READ MORE.
U.S., China reach preliminary audit inspection deal in push to avoid delistings
Accounting Today
AUGUST 26, 2022
Are You Charging Enough? Why You Should Raise Your Prices
Randal DeHart
AUGUST 26, 2022
There comes a time for every small business to raise its prices. While it may seem scary, remember that it's your job to keep costs fair for you and your customers. That means you have to charge prices that work for you and allow you to remain in business. Am I Not Charging Enough? Knowledge leads to profits and cash flow. What makes knowledge powerful?
Two data-driven strategies to mitigate geopolitical risk
ThomsonReuters
AUGUST 26, 2022
Using a risk-based approach grounded in comprehensive data, companies can better manage supply chains in an unpredictable world. Businesses involved in importing and exporting have been subject to changing global regulations, geopolitical upheaval, and logistical disruptions, are now looking for ways to build resilience in their supply chains and even gain a competitive advantage in the face of such rapid change.
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.
How to Improve Your Cash Flow During Inflationary Times
GrowthForceBlog
AUGUST 26, 2022
7 min read. In inflationary times, cash is king.
Donna Bateman Nominated for Los Angeles Business Journal’s 2022 CFO Awards
KROST
AUGUST 26, 2022
Pasadena, California – KROST’s Chief Financial Officer, Donna Bateman, CPA, has been nominated for the Los Angeles Business Journal 2022 CFO Awards. We will be supporting Donna at the 16th annual CFO Awards event on Thursday, September 22nd, at the Millennium Biltmore in Los Angeles. The event will be hosted in the evening and will Read the full article.
8 Pillars of Leadership Development
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.
The Unit Economics of a T-Shirt
Snyder
AUGUST 26, 2022
How do you measure the wellbeing of your business? I bet that in most cases you’re looking at and analyzing your company’s financial statements – P&L , cash flow statement and balance sheet. And you’re right to do so, as P&L shows your company’s growth and profitability over time, the cash flow statement demonstrates liquidity, and the balance sheet gives you a snapshot of assets.
The PCAOB Has a New Five-Year Plan For You Guys to Critique
Going Concern
AUGUST 26, 2022
Nearly three weeks after getting reamed out publicly by SEC Chair Gary Gensler for being way too slow to update auditing standards that had been in effect BEFORE the PCAOB was created by the Sarbanes-Oxley Act, everyone ’s favorite audit regulator released a draft of its five-year strategic plan , which includes four goals they hope to accomplish from 2022 to 2026.
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.
Student debt forgiveness may be taxable in more than a dozen states
Accounting Today
AUGUST 26, 2022
Could IRS Funding from the Inflation Reduction Act Be The Help Needed to Reduce the Increasing Form 941 Processing Backlog?
ThomsonReuters
AUGUST 26, 2022
The IRS backlog for processing Forms 941 (Employer’s Quarterly Federal Tax Return) is increasing, according to the Service’s webpage on mission-critical functions. Mission-critical. The IRS’s webpage on mission critical functions notes that while the Service is open and processing mail, tax returns, payments, refunds and correspondence, the effects of the coronavirus (COVID-19) health emergency continue to cause delays in some of its services.
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