Thu.Jul 13, 2023

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How to Forecast Accounts Payable Accurately

MineralTree

Accounts payable forecasting is a lot like gazing into a crystal ball — it enables businesses to predict and plan for upcoming financial obligations. By understanding how to forecast accounts payable accurately, organizations gain valuable insights into their data, which in return helps them make smarter financial decisions and avoid unforecasted expenses.

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Sales tax holidays and taxability of clothing/back to school (part 2)

TaxConnex

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. Here are the back-to-school and clothing holidays that start in August. Iowa , Aug. 4-5: Any article of wearing apparel and typical footwear intended to be worn on or about the human body. “Clothing” does not include watches, watchbands, jewelry, umbrellas, handkerchiefs, sporting equipment, skis, swim fins, roller blades, skates and any special clothing or footwear designed primarily for athletic activity or pro

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Trending Sources

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Senate report confirms data leakage from tax software

Accounting Today

A Senate investigation has concluded that major tax software providers have been sending sensitive personal information to tech companies like Meta and Google.

Tax 98
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Business as usual for Xero Mid-Size Firm of the Year winners: Sempar Accountancy and Tax

Xero

Sempar Accountancy and Tax have been crowned the Xero Mid-size Firm of the Year at the 2023 Xero Awards for UK and Ireland. This award recognises their innovative practice and unwavering commitment to delivering exceptional client service. We take a look at what sets Sempar apart, and how the firm has helped their clients achieve their business goals.

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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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Congress proposes tax relief to spur U.S-Taiwan trade

Accounting Today

A draft of legislation aims at reducing double taxation for employees and businesses involved in cross-border investment between the two countries

Tax 98
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Understanding the Important Roles of Inventory Management in E-Commerce Accounting

AccountingDepartment

This article recaps the important role of inventory management in e-commerce and the vital ways it helps businesses control costs and improve customer relationships.

More Trending

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FICPA Names Harrell as Chief External Affairs Officer

CPA Practice

The Florida Institute of Certified Public Accountants (FICPA) has announced that Jason Harrell will join the FICPA as Chief External Affairs Officer, effective July 17, 2023. Harrell will be stationed at the FICPA Governmental Affairs office in Tallahassee and will direct all aspects of the FICPA’s public policy, advocacy, governmental affairs and regulatory efforts.

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Boston offers tax breaks to turn empty offices into housing

Accounting Today

Mayor Michelle Wu's proposal is the latest example of a city seeking to address the challenges of remote work hitting downtowns and a lack of affordable residences.

Tax 98
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CohnReznick Gets Fined For Not Reporting an Earlier Fine to the PCAOB in a Timely Fashion

Going Concern

Yo dawg, I heard you like fines. The diligent paper-pushers at the PCAOB (the “P” stands for both paper and pushing) have sanctioned CohnReznick for failing to report key information on PCAOB Form 3 within the required timeframe. PCAOB Rule 2203, Special Reports requires any registered public accounting firm to file a special report on Form 3 to report information to the Board no later than thirty days after the occurrence of the event.

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Internet Marketing – It’s Not Just for Celebs, But Accounting Firms, Too

CPA Practice

If you think influencer marketing is not for your brand, you might miss exciting opportunities to create unique and engaging content for your followers, leads, and prospects. True or False: An influencer needs to be a celebrity. False! I’m here to tell you this is not the case. Nano-influencers, local influencers, and macro-influencers can be more effective than leveraging celebrity status as a social media initiative.

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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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Three ways AI can elevate your tax workflow

ThomsonReuters

If you’re part of a small or medium-sized tax and accounting firm, you may think artificial intelligence (AI) solutions are solely designed for large organizations – but think again. To succeed in an increasingly competitive landscape, forward-thinking accounting firms of all sizes are harnessing the power of AI to automate their tax workflows, thus boosting efficiency, empowering staff, and wowing clients.

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Client That Fired Marcum Over Audit Quality Compares the Firm to a Doctor Killing 25-50% of His Patients

Going Concern

It may be called The Westerly Sun but this paper is throwing nothing but shade at Marcum. Concerns over the reputation and legal troubles surrounding the audit firm Marcum LLP have led members of the Chariho School Committee to terminate its contract, moving in a different direction for the first time in 18 years. Members of the School Committee voted 11-0 on Tuesday, with Donna Chambers abstaining, to terminate the contract with James Wilkinson of Marcum LLP.

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Diagnose Your Apps from 'My Apps'

Insightful Accountant

This new app dashboard keeps you better informed regarding app-related connection issues.

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Maximizing Success: Advice for Marketing Agencies on Developing and Implementing a Budget

Basis 365

As a marketing agency, your success depends on your ability to deliver exceptional client results. But to achieve those results, you need to have a solid understanding of your financials and the resources available. That's where budgeting comes in. In this post, we'll explore some advice for marketing agencies on developing and implementing a budget to help you achieve your goals. 1.

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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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Bridging the Gap: Between the Generations

Insightful Accountant

'The Unique CPA Conference 2023' unites accounting professionals seeking to enhance their careers and contribute to the advancement of the accounting profession.

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IRS offers tax relief to Vermont flood victims

Accounting Today

Victims will now have until Nov. 15, 2023, to file their individual and business tax returns and make tax payments, pushing back the Oct. 16 deadline.

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Leveraging Materiality Assessments to Prioritize ESG Topics

Withum

Environmental, Social, and Governance (ESG) issues have become increasingly important for businesses in recent years. Stakeholders, including investors, regulators, customers, and employees, demand that companies address environmental sustainability and social responsibility concerns in all manner. However, with so many potential ESG topics to consider, it can be challenging for companies to determine which ones to prioritize.

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There's no excuse for ignorance: Tax tools from the IRS

Accounting Today

The service offers a wealth of resources that can be enormously useful to tax practitioners.

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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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Jirav Announces $20M Series B Round Led By Cota Capital

CPA Practice

Jirav , an all-in-one financial planning and analysis (FP&A) solution, and the preferred budgeting and forecasting partner of CPA.com, has announced $20M in Series B funding led by Cota Capital. Jirav will use the funds to further accelerate product development, broaden its customer base across small-medium businesses (SMBs), mid-market companies, and accounting firms while hiring exceptional talent to support its growth.

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Common Misconceptions of the Employee Retention Credit

Canopy Accounting

The Employee Retention Credit (ERC) is a valuable resource that can help businesses navigate the complex world of employee retention, but understanding its complexities and maximizing its benefits can be a daunting task. That's where Tri-Merit comes in. With their expertise in tax incentives and credits, Tri-Merit is well-positioned to guide businesses through the complexities of ERC.

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Eide Bailly Adds Seattle CPA Firm King & Oliason

CPA Practice

Top 20 accounting firm Eide Bailly has acquired Seattle-based CPA firm King & Oliason, the firms announced on June 26. Financial terms of the deal, which goes into effect on July 17, were not disclosed. As part of the acquisition, Eide Bailly picks up its first office in Seattle and adds six partners and 33 staff from King & Oliason. “By joining Eide Bailly, we can provide our clients expanded advisory services and industry-leading thought leadership to help provide the essential tools n

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How to Best Prepare for Your Single Audit in Local Governments

LSLCPAs

INTRODUCTION In this post, we will outline steps that might help you experience a stress-free Single Audit. Even if you did not pass the $750,000 expenditure threshold for all of your federal grants last year, you might pass it this year. And you never know… funding agencies may also perform an audit over activity funded. The post How to Best Prepare for Your Single Audit in Local Governments appeared first on LSL CPAs.

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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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IRS and Security Partners Announce Special Summer Series

CPA Practice

The Internal Revenue Service joins its Security Summit partners today to announce the start of a special summer “ Protect Your Clients; Protect Yourself ” campaign aimed at ensuring tax professionals stay alert against new and ongoing threats of tax-related identity theft. “The Security Summit plays a key role in protecting federal and state tax filings from identity thieves.

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Changes in the S&P 500 and NASDAQ Indexes

Withum

Changes are being made in two of the major stock market indexes– the S&P 500 and NASDAQ indexes. These changes will also affect the portfolio composition of mutual funds that track these indexes. I do not think these changes will substantially affect the portfolios of anyone that owns funds tracking these indexes. The changes will be to realign the weights in the indexes so it would somewhat reduce the significance of a few of the very large market cap companies that seem to drive these inde

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How accountants can prepare for the onslaught of employment legislation

Accounting Insight

We are not in a stable time for employment law. To be fair, Governments at the best of times rarely resist the temptation to tinker with the law that governs how employees are treated and work and get paid. Add Brexit and three separate prime ministers over the last year into the mix and you see even more. Here’s a rundown of how we got here and some ideas of how you can prepare for all the change coming.

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On-Demand Webinar: 2023 Cannabis Economics- Attracting Capital in A Myriad of State Regulatory Frameworks

Withum

“Can I make money investing in cannabis?” The question on many entrepreneurs’ and investors’ minds continues to be prevalent as cannabis legalization continues to move forward in the United States. Although each state has its unique approach to the industry, investors can profit from predicting the outcome of experiences from more mature cannabis-adopted State frameworks of similar characteristics.

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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.

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Exploring Leadership Styles with Robert Jordan

Summit CPA

The Virtual CPA Success Show: Episode 86 What kind of leader are you? Today’s guest, Robert Jordan, Founder and CEO of Interim Executives , discusses his recent book (co-authored by Olivia Wagner), Right Leader, Right Time, which is based on research of leadership styles of exceptional leaders. Jamie Nau and Joey Kinney take a deep drive into the book with Robert to learn the goal and research behind the book and what Robert identifies as four distinct leadership styles, which he labeled as fixe

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Curating your client base

Accounting Today

Seven ways to attract the right clients — and let go of the rest.

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The Technology Lab Podcast – Outsourcing for Tax and Accounting Firms – July 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the pros and cons, as well as the technologies and liabilities, of outsourcing tax and accounting tasking. Click here to visit the podcast page.

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How a £10B tax trade unraveled for a commodities house

Accounting Today

The Cum-Ex strategy ultimately landed ED&F Man in the middle of one of the biggest financial scandals in modern European history.

Tax 52
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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

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.