TaxConnex

NOVEMBER 30, 2023

Blog authored by Scott Schwertner, National Director of Sales and Use Tax for Invoke Tax Partners. With extensive experience in both the industry and sales tax consulting side, Invoke Tax Partners National Director of Sales and Use Tax, Scott Schwertner, knows how difficult it can be for businesses to get sales tax right on every transaction. It is common for businesses across the United States to pay sales tax and accrue use tax on purchases that are not taxable, resulting in an unnecessary hit

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Withum

NOVEMBER 30, 2023

1099 filing season is approaching, and now is the time to review your vendor information to ensure everything is in order come January. Let’s break down what you need to know ahead of time. First, you want to familiarize yourself with the standard 1099 forms that most companies must file. 1099 NEC (Non-employee Compensation) reports payments of at least $600 or more in the calendar year to non-employees for services rendered. 1099 MISC (Miscellaneous) reports miscellaneous payments such as ren

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Accounting Today

NOVEMBER 30, 2023

Corporate audit committees have been providing investors with a greater number of disclosures about their activities and responsibilities over the past 10 years, but there's still room for improvement.

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Insightful Accountant

NOVEMBER 30, 2023

The Financial Crimes Enforcement Network, part of the U.S. Department of Treasury is set to begin Small Entity Compliance implementation and enforcement of provisions related to Beneficial Owners Reporting as of January 1, 2024.

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4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

Finance

Accounting Today

NOVEMBER 30, 2023

The Internal Revenue Service is warning taxpayers to be on the lookout for charity fraud as accountants look to advise clients on how to detect and avoid fraud.

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Accounting Today

NOVEMBER 30, 2023

A sizable proportion of businesses have yet to produce an emissions reduction plan and have no plans to do so, even as global temperatures have reached a record high this year, according to a new report.

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CPA Practice

NOVEMBER 30, 2023

By Sarah Bregel, Fast Company (TNS) How people feel about AI may still be a mixed bag, but there is certainly no shortage of chatter about the technology, especially among employers and job-seekers. On LinkedIn, conversations about AI have increased by 70% over the past year, according to a newly released report from the job-search platform —the site’s second on “AI in the workplace.

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Accounting Today

NOVEMBER 30, 2023

The Public Company Accounting Oversight Board levied penalties against three firms in China, including member firms of PricewaterhouseCoopers that it found were improperly sharing answers to exams.

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GrowthForceBlog

NOVEMBER 30, 2023

7 min read No matter the size of your company, tax planning can be a major headache because the process can be complex and stressful. Plus, if tax planning isn't done properly, it can end up costing your business dearly with you either paying taxes that could have been avoided or incurring tax penalties as a result of noncompliant financial reporting.

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Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

accounting and finance

Basis 365

NOVEMBER 30, 2023

The importance of efficient cash flow management cannot be overstated for small or rapidly growing businesses. One critical aspect is the management of accounts payable (AP). Effective accounts payable strategies not only streamline the payment process but also contribute significantly to better cash flow management. In this blog, we will delve into essential financial tactics that small businesses can adopt to optimize their accounts payable processes, with a focus on the solutions offered by B

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Going Concern

NOVEMBER 30, 2023

As reported by Financial Times and amplified by people with offers freaking out on Reddit, EY is pushing start dates back for new hires in advisory. Again. FT : The Big Four firm told recent graduates who had originally expected to start work this autumn that some of them would now not be required until July or August 2024, almost a year late. The decision was “based on emerging business conditions and our assessment of our business needs”, according to an email on Tuesday from EY’s campus recru

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ThomsonReuters

NOVEMBER 30, 2023

Jump to: What does “authentic” mean? How can embracing authenticity guide your firm’s client service initiatives? Making authenticity a priority in your client service strategy Earlier this week, Merriam-Webster announced its word of the year for 2023. The winner? Authentic. An NPR article on the announcement raises a number of interesting points on why “authentic” became popular this year.

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AccountingDepartment

NOVEMBER 30, 2023

As a business owner or CEO, have you ever felt frustrated when the budget you made at the beginning of the year has become irrelevant halfway through? Have you ever wished for a more flexible and agile way to manage your finances? If so, you might want to consider continuous planning.

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Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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CPA Practice

NOVEMBER 30, 2023

IRS Criminal Investigation special agents have seen an uptick in a specific type of scheme that couples cryptocurrency with romance, and they have a message for taxpayers: Don’t get butchered. The scam is known as “pig butchering”—flirtatious strangers use social media to lure unsuspecting romantic partners, who serve as the “pigs,” to invest in crypto trading platforms.

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MineralTree

NOVEMBER 30, 2023

Maintaining finance department efficiency is a constant challenge, especially for teams that rely on legacy technology and manual processes. The good news is that technological advancements have made it possible for finance departments to increase productivity and to do more with less. As the need to drive efficiency grows, many teams are looking to technology to digitize and automate their workflows.

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Finance AP Automation Approval Workflows Technology 91

Accounting Today

NOVEMBER 30, 2023

Ark Pro CPAs topped the league tables in the third quarter, with five new SEC clients, all in China.

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CPA Practice

NOVEMBER 30, 2023

By Reade Pickert, Bloomberg News (via TNS). The U.S. economy grew at an even faster pace in the third quarter than originally estimated, reflecting upward revisions to business investment and government spending. Gross domestic product rose at an upwardly revised 5.2% annualized pace in the third quarter, the fastest in nearly two years. Consumer spending advanced at a less-robust 3.6% rate, according to the government’s second estimate of the figures issued Wednesday.

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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Accounting Today

NOVEMBER 30, 2023

Windes, a Top 100 Firm, is teaming up with Integrated Partners, a financial planning and RIA firm, in a new wealth management venture.

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CPA Practice

NOVEMBER 30, 2023

By Alicia Clanton, Bloomberg News (via TNS). Home prices in the U.S. extended their climb, reaching a fresh record high. A national gauge of prices rose 0.7% in September from August, according to seasonally adjusted data from S&P CoreLogic Case-Shiller. It was the eighth straight month of gains for the index, which doesn’t provide a specific dollar figure for homes.

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Going Concern

NOVEMBER 30, 2023

Oh look, the PCAOB snagged more big fish: $7.9 million in total fines against three China-based firms and four individuals in “historic settlements.” Whoop-de-doo. Imposing $7.9 million in fines, the PCAOB has sanctioned three China-based firms and four individuals in historic settlements. [link] pic.twitter.com/g5oGPQU2mq — PCAOB_News (@PCAOB_News) November 30, 2023 So here’s what the PCAOB is celebrating today: Two disciplinary orders imposing a total of $7 million in p

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CPA Practice

NOVEMBER 30, 2023

High Plains Technology, a technology solutions company based in Sioux Falls, SD, will become part of top 20 accounting firm Eide Bailly on Jan. 8, 2024. The merger will bring four partners and 14 staff into Eide Bailly’s Sioux Falls and Fargo, ND, offices. Financial terms of the deal were not disclosed. Jeremy Hauk “High Plains Technology has an impressive track record of delivering high-quality service to clients for over 30 years,” Jeremy Hauk, CEO and managing partner of Fargo-based Eide Bail

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Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

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Withum

NOVEMBER 30, 2023

In today’s continually evolving business world, staying ahead of the competition requires efficient, integrated and scalable solutions. Microsoft Dynamics 365 CRM integrates with Microsoft Dynamics 365 Business Central (BC) to create a powerhouse combination that offers many benefits to small and midsize businesses (SMBs). Let’s delve into the reasons why this tech stack is a game-changer for these enterprises.

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Menzies

NOVEMBER 30, 2023

Menzies LLP - A leading chartered accountancy firm. If you are in the manufacturing sector, there is no escaping ESG (Environmental, Social and Governance). Producing products sustainably is no longer an optional benefit, but a necessity to remain competitive in the market and mitigate future risk. Manufacturing is responsible for 10-15% of the UK’s GHG emissions (Greenhouse gases), which necessitates significant environmental responsibility for the sector.

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Accounting Today

NOVEMBER 30, 2023

A dim bulb; morally bankrupt; 1st to jail; and other highlights of recent tax cases.

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Menzies

NOVEMBER 30, 2023

Menzies LLP - A leading chartered accountancy firm. What date does FRED 82 come into effect? The FRC published its exposure draft FRED 82 in December 2022, proposing several changes to UK GAAP. The consultation feedback on the exposure draft has since led to a delay in the expected implementation date, with the revised version expected to come into effect for periods commencing on or after 1 January 2026.

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Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

Expense Management

Insightful Accountant

NOVEMBER 30, 2023

Intuit will no longer sell new subscriptions of QuickBooks Desktop Pro or Premier Plus, QuickBooks Desktop Mac Plus, or QuickBooks Desktop Enhanced Payroll as of July 31, 2024.

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CPA Practice

NOVEMBER 30, 2023

By Jeff Ostrowski, Bankrate.com (via TNS). The average rate on 30-year fixed mortgages retreated to 7.41% this week, down from 7.55% the previous week, according to Bankrate’s weekly national survey of large lenders. The recent reprieve could signal a prolonged drop in mortgage rates, housing economists say. The average rate on 30-year home loans in October topped 8%, but that’s changing because of a number of factors, including a slowing job market and signs that the Federal Reserve’s ongoing w

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FraudFiles

NOVEMBER 30, 2023

While it is common for one spouse to have control over the money in a marriage—be the major breadwinner, manage spending, and maintain control of financial documentation—family lawyers and their clients can increase the chances of finding hidden assets during a divorce by being aware of some of the schemes …

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