Fri.Dec 23, 2022

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Financial Statement Fraud: Overstatement of Revenue

FraudFiles

By far the most common way that executives manipulate financial statements is through the overstatement of revenue. The reason is simple: It’s the easiest way to improve the appearance of the company’s financial condition.

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What is a WISP for Accounting and How To Get One | Canopy

Canopy Accounting

In accounting, WISP stands for Written Information Security Plan. A WISP is a document that accountants are required by law to create. A WISP is your strategy or game plan for keeping your client’s personal and financial information safe. If you get paid to do someone’s accounting, then yes! You’re going to need a WISP.

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Reclaiming Your Time And Switching Off During The Holidays

Randal DeHart

Small construction company owners like you already have a time-consuming and challenging job running your business. If you're working on weekdays, you usually need the weekend to catch up on paperwork, pay bills, and manage any tasks you didn't get to during the week. But this weekend is Christmas, and with it comes time to relax, focus on family and friends and take stock of what is essential in life.

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Los Angeles Business Journal Names KROST Top 100 Fastest Growing Private Companies 2022

KROST

PASADENA, CA – KROST CPAs & Consultants was recognized as the Top Fastest Growing Private Companies by the Los Angeles Business Journal in 2022. Based on revenue from 2020 to 2021, KROST was ranked among the fastest-growing private companies in the greater L.A. area. The fastest-growing private companies exhibit tremendous gains, measured not only in Read the full article.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Rejoice! IRS Delays Challenging 1099-K Reporting Changes Until Next Year

Nancy McClelland, LLC

Accountants, small business owners, IRS representatives, bookkeepers, and tax attorneys everywhere are breathing a sigh of relief today as the IRS — awaiting relief from Congress that never came — finally made the decision to push off the confusing and troublesome changes to 1099-K reporting for another year. The change in law requires Payment Servicing Entities (PSEs) and Third-Party Settlement Organizations (TPSOs) such as PayPal, CashApp, Venmo, Etsy, Poshmark, and eBay to lower t

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Los Angeles Business Journal Names KROST Top 100 Fastest Growing Private Companies 2022

KROST

PASADENA, CA – KROST CPAs & Consultants was recognized as the Top Fastest Growing Private Companies by the Los Angeles Business Journal in 2022. Based on revenue from 2020 to 2021, KROST was ranked among the fastest-growing private companies in the greater L.A. area. The fastest-growing private companies exhibit tremendous gains, measured not only in Read the full article.

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IRS Adopts Administrative Procedure Establishing Calendar Year 2022 as Transition Period for TPSO Compliance

Intuitive Accountant

IRS action delays $600 threshold for 1099-K reporting for most entities.

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IRS delays $600 threshold for 1099-K reporting

Accounting Today

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6 Bookkeeping Habits to Help Landscaping Company Manage Cash Flow

Steve Feinberg

Landscaping professionals to provide a valuable service to the public and private property alike, with skills that take years to learn and even longer to master. With all of this work, it’s understandable that strict bookkeeping and daily accounting aren’t at the top of your priority list, but without them, even the best landscapers can find themselves in a bind when it comes to their cash flow.

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How to network as an accountant in 2023

Accounting Today

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Friday Footnotes: EY Cancels Christmas; A Very Sucky PwC Report; Should We Tax Robots? | 12.23.22

Going Concern

Welcome to the last Footnotes of 2022! We appreciate you stopping by as always and hope you get a chance to recharge over the holidays. We will be out of office next week but have scheduled some things to run while we’re gone for those individuals who are severely addicted to accounting shitposts and simply cannot go without. We’ll be checking the tipline during this time so feel free to text if anything of note happens while we’re feasting, resting, and putting in way, way too

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IESBA advances sustainability and ethics standards for accountants

Accounting Today

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Brokers get reprieve on expanded reporting of digital assets

Accounting Today

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The SEC's crypto crackdown is just getting started after FTX blowup

Accounting Today

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Omnibus spending package passes without tax extenders

Accounting Today

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SEC OKs PCAOB budget and accounting fee

Accounting Today

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Tech News: Looking for the top new products of the year

Accounting Today

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Satisfying prevailing wage requirements to maximize energy efficiency tax credits

Accounting Today

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Trump's tax returns will be released after Christmas, panel says

Accounting Today