Fri.Oct 27, 2023

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Tech News: EY and AuditBoard release risk assessment tools

Accounting Today

Plus, Gusto and FreshBooks jointly release FreshBooks Payroll; and other accounting technology news.

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Carbon Accountants: What They Do and Why They Matter

CPA Practice

By Allison Arieff, MIT Technology Review (TNS) His official title is vice president of regulated reporting solutions. But really, Billy Scherba, CPA, is a carbon accountant. At Persefoni, a platform for climate management, Scherba works with companies to measure, manage, and disclose their contributions to climate change. Billy Scherba Carbon accountants help companies understand what data matters to their carbon footprint, how to collect that data in a consistent manner, and how to use it to ca

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Career sustainability: A super-skill for women in accounting

Accounting Today

The 2023 Accounting MOVE Project report focuses on how women can navigate the shifting workplace in the accounting profession.

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Essential Bookkeeping Practices For Construction Start-Ups

Randal DeHart

Starting a new construction business is exciting but has its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It's not just about keeping things tidy; it's about understanding the financial health of your business and meeting all your tax obligations.

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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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Small businesses see sales decline

Accounting Today

Small businesses are experiencing the weakest sales since 2020, according to a new report from Xero, despite signs of an improving economy.

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11 Best Movies Accountants Must Watch in 2024

Ace Cloud Hosting

In a world where numbers and spreadsheets often take center stage, it’s time for accountants and financial enthusiasts to let their hair down and embrace the cinematic side of life.

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IRS Outlines Withdrawal Process for Employee Retention Tax Credit Claims

Anders CPA

After announcing an immediate moratorium on processing new Employee Retention Tax Credit (ERTC) claims , the IRS has issued new guidelines on a special withdrawal process. If an employer filed an ERTC claim, the withdrawal process potentially allows them to withdraw their claim and avoid costly repayments compounded by interest and additional penalties.

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IRS Promotes E-Filing of Payroll Tax Forms

CPA Practice

The Internal Revenue Service is reminding employers that the best way to file their next quarterly payroll tax return by the Oct. 31, 2023, due date is electronically. While paper filing is available, the IRS strongly encourages e-filing. E-filing is the most secure, accurate method to file returns, and saves time. E-filing is easy with auto-populating forms and schedules and a step-by-step process that performs calculations for the user.

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The Art of Employee Recognition at a Growing Remote Company | Beyond the Books Podcast by AccountingDepartment.com

AccountingDepartment

Join your host, Kevin Drye, and Director of Marketing, Andrea Boccard, as they take a deep dive into the art of appreciating your workforce.

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What comes next in the IRS's ERC withdrawal process?

Accounting Today

The Internal Revenue Service is providing a way for businesses to withdraw incorrect claims for the Employee Retention Credit, but what about the claims that have been paid out already?

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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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Top 5 Stamp Duty Land Tax (SDLT) Reliefs for Property Investors and Developers

Menzies

Menzies LLP - A leading chartered accountancy firm. Stamp Duty Land Tax (SDLT) can be a significant expense for property investors and developers in England and Northern Ireland. However, by understanding and correctly applying the relevant tax reliefs, it is possible to significantly reduce the amount of SDLT that needs to be paid. In this article we outline the top 5 SDLT reliefs that you need to be familiar with.

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EY cuts U.K. partner payouts as Big Four face slowdown

Accounting Today

Partners at the Ernst & Young in the U.K. saw their share of profits drop for the first time in three years as the Big Four face economic uncertainty.

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Gordon James Realty Expands their Business with the Help of Automation and Custom Accounting Processes

Accounting Seed

With Accounting Seed on Salesforce, Gordon James Realty is making their mark in the property management business Whether you’re looking to buy your first home or you’re an experienced investor, Gordon James Realty has your back. Serving the Washington D.C., Virgina, and Maryland areas, Gordon James Realty was established in 2012 as a full-service property management company helping others maximize their investment in owning property.

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CPA services aren't keeping up with changing times

Accounting Today

The business model of a CPA firm has shifted, and many firms are still not acknowledging that.

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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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UK tax considerations for E-sports earnings

Menzies

Menzies LLP - A leading chartered accountancy firm. If you earn Esports income from activities such as streaming, sponsorship, or tournament winnings, did you know you may need to declare this to HMRC and you may have tax to pay? There are more and more opportunities to make money from Esports, whether as an individual or a team, and in some cases the cash at stake can be substantial.

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Carbon offset market faces chaos as mega-project collapses

Accounting Today

An investigation found significant flaws in accounting behind carbon credits from Zimbabwe-based Kariba.

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EY U.K. Cuts Partner Payouts by £40,000 as Big Four Accounting Firms Face Slowdown

CPA Practice

By Irina Anghel, Bloomberg News (TNS) Ernst & Young LLP partners in the U.K. saw their share of profits drop for the first time in three years as the Big Four audit firms face economic uncertainty. Partners at the accounting firm’s U.K. arm pocketed an average of £761,000 ($923,000) last year, compared with £803,000 the year before. The firm also cut its pay rise and bonus pool by about 30% to £155 million.

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On the move: Traphagen CPAs raises $1K for American Cancer Society

Accounting Today

REDW relocates Albuquerque office; Eide Bailly names nonprofit Project Chimps winner of its annual Resourcefullness Award; and more news from across the profession.

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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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How to successfully offer pro bono accounting services

ThomsonReuters

Doing good things for the right people for the right reasons can be very rewarding. But, many accounting firms offering pro bono services fail to take a strategic and organized approach, opening themselves up to a host of potential challenges. One reason firms fail to plan is that it’s difficult to decide how much to give away and to whom. Another challenge is that some clients don’t appreciate the value you’re giving them when you do offer pro bono services.

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What CPAs can learn from Turo

Accounting Today

Your competitors of the future are probably not who you think they are.

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Focusing on Sustainability for UK Hospitality & Leisure Businesses

Menzies

Menzies LLP - A leading chartered accountancy firm. The UK hospitality and leisure sector has faced a number of challenging circumstances over recent years, which have distracted operators away from tackling the sustainability issue. With the UK Hospitality Sustainability Conference last week, there is renewed focus on this important issue. This article highlights the importance of setting clear sustainability KPI’s that align with goals, which once agreed need to be communicated to all stakehol

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Patriot Software Teams Up With Stripe to Streamline Online Payments 

Patriot Software

Canton, Ohio Patriot Software, a leading online accounting software provider, and Stripe, a financial infrastructure platform for businesses, have joined in a partnership to offer a new era of enhanced and frictionless payment experiences for customers.

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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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Intrastat Guide: Reporting, Numbers, Thresholds

Accounting Insight

Intrastat is an obligation created in 1993 that applies to certain businesses that trade internationally in the European Union. Specifically, it relates to the movement of goods – arrivals and dispatches – across EU Member States. The requirements of Intrastat remain similar across the EU, though certain Member States have implemented rules differently.

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Incorporations, LLCs, and Business Filings – Made Easy for Accountants with MyCorporation

Insightful Accountant

MyCorporation has been a reliable resource for accountants looking to complete business filings for their clients for more than 25 years.

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Withum’s Annual Law Firm Leadership Survey Indicates Future of Firm Management Facing Slowing Demand

Withum

Princeton, NJ—Withum, a Top 25 advisory and accounting firm, released its 2023 Law Firm Leadership Annual Trend Report with data from this year’s Law Firm Leadership Survey. Firm Managing Partners, Chief Executive Officers and others in leadership roles were surveyed on their perspectives on AI, cybersecurity, succession planning and more in a market that has cooled in recent years.

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Patriot Software Partners with Stripe

CPA Practice

Online accounting software provider Patriot Software has partnered with online payments system Stripe to offer frictionless payment experiences for customers. Under this partnership, Patriot Software accounting customers can now effortlessly accept credit card payments on customer invoices, significantly enhancing the efficiency and convenience of their financial operations.

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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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Getting Ahead of Foreign Exchange Exposure and Leveraging Accounting Practices to Manage Risk

Cherry Bekaert

Contributors: Brandon Goodwyn, Senior Associate, Accounting Advisory Global businesses operating in multiple countries or investing in foreign currencies must have a thorough understanding of foreign exchange principles to manage risks (exposure). To operate at peak performance, management should understand the types of exposure present, available foreign exchange instruments, hedge accounting practices and accounting for foreign exchange transactions.

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Friday Footnotes: IRS Chief Hoping for ‘Financial Sacrifice’; PwC Spin-Off Layoff; KPMG Unites Deals and Other Deals | 10.27.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. Tax IRS chief confident tax experts will make the ‘financial sacrifice’ necessary to work for his agency [ Government Executive ] While IRS’ answer rate at its call centers has skyrocketed and dozens of Taxpa

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The Technology Lab Podcast – Should You Upgrade Your Firm? – Oct. 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, have a chat about firm technologies, and which upgrades they see as beneficial to firms, allowing them to accomplish more even if facing talent shortages. Use the podcast player below to listen. Transcript (Note: There may be typos due to automated transcription errors. Also, due to the intro to the podcast, add apx. 10 seconds to the time stamps below.

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Break Out the Violin for the Poor EY UK Partners Taking a Pay Cut This Year

Going Concern

Although EY had “one of the most successful years in the history of the organization with record global revenues and continued significant growth” according to their own revenue announcement in September , the firm also had a $500 million hole bored into its collective pockets by Project Everest (maybe less depending on who does the accounting and what level of wizard they are ).

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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.