Wed.Jul 03, 2024

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How Technology Can Address Two Big Problems at Accounting Firms

CPA Practice

By Brad Barkin Small accounting and financial services firms are facing escalating operation threats and vulnerabilities. Cybercrime is on the rise, with PwC reporting a 30% higher risk of cybersecurity attacks for financial firms. Additionally, accounting, tax preparation, and bookkeeping firms are navigating a growing staffing shortage. Technology can address both of these problems, from improved cybersecurity platforms to artificial intelligence-based tools to take over the routine processes

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Legal expert discusses federal labor ramifications of overturning Chevron Doctrine

ThomsonReuters

In a landmark decision, the Supreme Court overturned the longstanding Chevron doctrine, significantly altering the landscape of federal agency authority. The ruling, known as the Loper decision , marks a seismic shift in how federal agencies interpret and enforce statutes. Checkpoint Payroll Update recently spoke with Alexander T. MacDonald, Shareholder and member of the Workplace Policy Institute at Littler, to understand how the Loper decision may affect federal labor and employment law.

Legal 97
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How to Boost Your Bottom Line With Forecasting

GrowthForceBlog

7 min read July 3rd, 2024 Most commonly associated with weather, forecasting is also an essential business tool; it can be used to predict whether your business will experience a dry spell or a windfall and help you develop an effective strategy and boost the bottom line of your business. Key Takeaways How Forecasting Can Boost Your Bottom Line: So, forecasting is just one of several bottom-line-improvement strategies.

Account 88
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IRS offers relief on reporting renewable energy tax credits

Accounting Today

The IRS's Large Business and International Division is providing companies that claim tax credits for renewable energy and electricity projects an expedited way to report them.

Tax 94
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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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Update on California Senate Bill 478: Exemption for Restaurants and Bars

KROST

Following up on our article from last Thursday, there has been a major update for restaurants in the wake of California Senate Bill 478. The Bill, which went into effect on Monday, was set to outlaw surcharges or “hidden junk fees” from businesses, including food and beverage vendors in the state of California. However, last-minute Read the full article.

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Founder Files: The accountant who hates accounting

Accounting Today

Louie Vazquez says he has all the characteristics of a bad employee and a good business owner.

Account 117

More Trending

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IRS warns of clean energy tax credit scam

Accounting Today

The Internal Revenue Service issued a warning cautioning taxpayers to beware of a new scam involving the purchase of clean energy tax credits.

Tax 100
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Overtime Pay Changes Seriously Affecting Your Mount Vernon Business

SkagitCountyTaxServices

The barcode is so commonplace you kind of forget that it was the cutting edge of retail technology once upon a time. Now, you probably only think about it when you scan it at the register (BEEP). But this year is, in fact, its 50th anniversary. But, as commonplace as the barcode is, it’s facing an upgrade, aka the QR code — the more sophisticated, more informative, and more interactive improvement on the everyday barcode.

payroll 74
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Private sector added 150K jobs in June as annual pay rose 4.9%

Accounting Today

The job market continued to grow last month, but wage growth slowed, ADP reported.

payroll 122
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Challenges and Solutions: Restoring Dealership Accounting Post CDK Hack

Withum

Car dealers nationwide continue to feel the impact of last week’s CDK Global cyberattack. Many U.S. dealerships’ operations were halted, and this ransomware attack’s impact is still ongoing. Slowly, dealerships are coming “back online.” CDK Global has stated that systems restoration will continue through the end of the month.

Account 59
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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

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States that rely the most on sales taxes

Accounting Today

Where does sales tax drive the most local revenue?

Sales 138
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Payroll Software Buyer’s Guide

CPA Practice

If you’re thinking about offering payroll services or switching from your current payroll software, this guide can help you decide if it’s time for a change. It will also highlight the essential features your new payroll solution should have. Effective payroll software ensures accuracy, compliance, and operational efficiency, providing a competitive edge.

payroll 52
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Fly the "Grand Old Flag" Proudly this 4th of July

Insightful Accountant

From Murph and all of us at Insightful Accountant, have a happy and safe holiday, and proudly remember the liberty and independence this holiday celebrates by flying the American Flag.

Account 52
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Process Improvement is Not a Top Priority

Ryan Lazanis

If your goal is to systematize your firm, improving processes shouldn't be your top priority. Find out why in this episode. The post Process Improvement is Not a Top Priority appeared first on Future Firm.

Account 52
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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Cybersecurity Checklist: Response and Mitigation Strategies Post-CDK Global Cyberattack

Withum

Since June 19 th , car dealerships have been negatively impacted by the CDK Global cyberattack. Many U.S. dealerships’ operations shifted to manual processes after their Dealer Management System (DMS) was taken offline by a ransomware incident linked to Blacksuit. As dealer operations are now slowly coming back online (as many have reported over the weekend), here are some things to work through as you recover.

Legal 52
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Increasing Efficiency and Client Engagement: Alpine Mar CPA and Advisors' Success with Canopy

Canopy Accounting

Profile Alpine Mar CPA and Advisors , founded by Pablo Martell , is a full-service CPA firm based in South Florida. The firm provides comprehensive tax services, accounting and bookkeeping, fractional CFO services, and transaction advisory services. They cater to a diverse clientele, including small business owners, high-net-worth individuals, and corporations.

CPA 52
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3 Minutes with Christine Nicholson

Accounting Insight

Christine is a multi-award-winning Business Mentor, speaker and author. She has authored 4 business books and is a regular keynote speaker on Succession and Exit Planning. As a businesswoman who has built multi-million turnover businesses over the last 30 years, she has worked with many business owners in all sectors including taking one from bankruptcy to 8-figure exit in 18 months.

Account 52
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Yet another deepfake scam, and other tech stories you may have missed

Accounting Today

Plus, unbundling Office and Teams, Apple and on-device AI, and more.

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Navigating Corporate Travel Changes Post-Pandemic

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Accountex Summit Manchester opens free registration 

Accounting Insight

On 17 September, thousands of attendees are expected to return to Manchester Central for the sixth edition of Accountex Summit Manchester. “Last year’s show was a huge success, we welcomed a 35% increase in attendees!” said Accountex Portfolio Director, Caroline Hobden. “This year we’re excited to deliver an even better show with new exhibitors, speakers and features.

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Recap of the Accounting Thought Leader Think Tank – The Accounting Technology Lab Podcast – July 2024

CPA Practice

Hosts Randy Johnston and Brian Tankersley, CPA, discuss the invitation-only Accounting Thought Leader Think Tank Symposium, which gathered dozens of the most influential accounting technologists, practitioners, advisors, and policy makers in the profession. The event was held just prior to the 2024 AICPA Engage Conference. A podcast link is below if you just want to listen.

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Wave vs. QuickBooks Online: Comparing Two Leading Accounting Softwares

Shay CPA

There’s absolutely no reason to manually manage your accounting. Today’s accounting software can do a lot of the heavy lifting for you, from compiling all of your transactions into a single place to creating key financial reports. In fact, the focus shouldn’t be on whether or not to leverage accounting software. (You should.) Instead, the priority should be finding the right software solution for your specific tech company.

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3 Reasons It May Look Like You Love the IRS More Than Your Family

CPA Practice

By Scott Phillips, RIA, LUTCF, Kiplinger Consumer News Service (TNS) If you’re like many people getting ready to retire, you’re concerned about the prospect of running out of money before you die. That puts you in good company, because a recent survey found that 63% of Americans are more afraid of running out of money than they are of death. Unfortunately, this concern may be preventing you from focusing on an equally important issue, which is overpaying taxes.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

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