Tue.Nov 07, 2023

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Spend Management Principles and Strategies for SMB's

AccountingDepartment

One of the most important aspects of running a successful business is managing the money that comes in and goes out. However, this can be especially tricky for small to medium-sized businesses, which often have fewer resources and smaller budgets to work with.

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Your need-to-know: vendor compensations and discounts | TaxConnex

TaxConnex

Hard to believe if you’ve ever dealt with sales tax jurisdictions, but they will actually give you a break on paying your sales tax in the form of vendor compensations and discounts. These discounts can also add up for large businesses that pay a great deal in sales tax every month to states where they have nexus , sometimes even more than paying for the services these companies use for sales tax compliance.

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Meet the 2023 Best Firms for Young Accountants

Accounting Today

A look inside the 10 best places to start a career in accounting.

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Bring Home Your End-Of-Year Planning With Power BI

Acterys

The end of the year is often thought of as a time for celebration. But for finance teams, it’s also one of the busiest times of the year, and inefficient planning processes can lead to high levels of stress. Reviewing a business’s performance and financial situation, setting goals and developing a strategic plan requires a comprehensive view of business data.

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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20 states that burden taxpayers the least

Accounting Today

The best five states have an average total tax burden of 5.97%.

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Bring Home Your End-Of-Year Planning With Power BI

Acterys

The end of the year is often thought of as a time for celebration. But for finance teams, it’s also one of the busiest times of the year, and inefficient planning processes can lead to high levels of stress. Reviewing a business’s performance and financial situation, setting goals and developing a strategic plan requires a comprehensive view of business data.

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3 Benefits of Unified Analytics and Planning for the Enterprise

Acterys

Rising cost-control expectations and regulatory compliance pressures have led to an increasing shift toward turnkey analytics and planning solutions. Companies face increasing demands to accelerate decision-making and contingency planning to effectively manage risk as data volumes grow. According to the 2022 BPM Partners Pulse survey, key priorities include dashboards, timely reporting features and data visualization solutions to business problems.

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PwC to cut around 600 U.K. jobs

Accounting Today

The bulk of the cuts will be aimed at the advisory division.

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Academics Let AI Ruthlessly Slander Big 4 Firms, They’re Very Sorry They Didn’t Think to Fact Check

Going Concern

Generative AI is a powerful tool, most of all in the hands of people who know how to use it. Like all new technologies, things can also go awry when you let neophytes play around with it unsupervised. Particularly when you let the newbies play around with it unsupervised and then they take what the AI generated to a parliamentary inquiry and present it as fact.

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Nonprofits see revenue decline

Accounting Today

Not-for-profit organizations are putting more emphasis on cutting costs as they face the prospect of donors giving them less, according to a new survey.

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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Many Retired Americans Aren’t Returning to Work as Predicted After Covid

CPA Practice

By Alex Tanzi, Bloomberg News (via TNS). More than three-and-a-half years after COVID struck, the U.S. still has around 2 million more retirees than predicted, in one of the most striking and enduring changes to the nation’s labor force. The so-called Great Retirement induced by COVID-19 is evident in the divergence between the actual number of retirees and that predicted by a Federal Reserve economic model.

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Yellen defends IRS against cuts, plans ambitious tax season

Accounting Today

The Treasury secretary addressed a group of service employees as the agency fends off cuts pushed by House Republicans.

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Layoff Watch ’23: PwC UK Needs a Few Hundred People to GTFO

Going Concern

Financial Times reported late yesterday that the King’s PwC will cut up to 600 jobs but first they’re going to try to get that many people to leave voluntarily. The historically low attrition rate over there has dropped even further to a mere ten percent. Given that a much higher amount of churn is baked into the business model, people gotta go.

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10% of S&P 500 companies disclosed cybersecurity incidents

Accounting Today

Only four companies said the events were "material.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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New Ruling Clarifies Local Sales Tax Rates for Multi-Location Businesses in Missouri

Anders CPA

When a business operates in multiple locations in the same state, complex sales tax regulations can often present a challenge. Special local sales tax districts, such as a community improvement or transportation development district, can exacerbate the difference in sales tax rates for business locations in neighboring municipalities. The Missouri Private Letter Ruling No.

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Pillar Two tax concerns jump at large multinationals

Accounting Today

Many are considering extra hiring to handle the upcoming mandates, according to KPMG.

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Understanding the Uses and Limitations of Net Operating Losses

inDinero Tax Tips

If you know how to use net operating losses to your advantage, you can strategically time investments to save money on your taxes. You do this by using an unprofitable year to offset future profits, which may sound a bit complicated. Not to worry. In this guide, we’ll present the rules and limitations of net operating losses and demonstrate how to use them to save money and grow your business.

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IRIS 1099: What to Know About the Information Returns Intake System

Patriot Software

Do you need to file Form 1099-NEC, Nonemployee Compensation, Form 1099-MISC, Miscellaneous Information, or another 1099 type? You can use the IRS’s Information Returns Intake System (IRIS) to e-file 1099s. Here’s what to know about IRIS 1099 filing. What is IRIS 1099?

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Register For the #IgnitionPrecon at QB Connect

Insightful Accountant

Insightful Accountant is thrilled to be kicking off QuickBooks Connect 2023 as a Silver Media partner for Ignition’s highly anticipated Precon party!

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3 Minutes with Francesca Tricarico

Accounting Insight

Francesca decided 11 years ago that she wanted to create a better life for herself and her children, so went back into education. She’d always had a passion for accountancy, so she worked hard and focused her efforts on joining a top practice. As well as studying, she did voluntary work in the industry to become fully immersed in the subject. After graduating in 2014 she joined a top local accounting firm (after applying twice), learning about all areas of the business before falling in love wit

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Why QB Desktop File Optimization May Fail

Insightful Accountant

Returning to his old ‘Desktop tech tinkering,’ Murph tips you off on how to prevent ‘file optimization’ failures.

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Krulak's Law: How frontline staff reflects your brand

Accounting Today

Very few firms are asking themselves how they can make sure their client service associates are doing the very best job they can.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Master Year-End Close: 9 Tips for Seamless Financial Reporting 

Withum

As the year winds down, it’s essential for businesses to take a proactive approach to their year-end accounting and financial reporting processes. Year-end close is about wrapping up the past and setting the foundation for the upcoming year. To ensure your business closes its books accurately and is well-prepared for the year ahead, we’ve compiled the considerations below to guide you in your year-end close process. 1.

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3 questions you must answer before spending time and money seeking out new clients

Mark Lee

l am regularly approached by accountants who want to know how they can get more clients. And many more accountants are asking each other similar questions in groups on facebook. Invariably they want to know if social media is worthwhile, where to advertise, what marketing activities to pursue, what networking activities might be worthwhile, how to get more traffic to their website and much more – all in a similar vein.

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iplicit offers benefits of accounts payable automation to all its customers

Accounting Insight

The finance platform iplicit is offering the time-saving advantages of accounts payable (AP) automation to its full range of customers in the latest update to its product. iplicit’s own AP automation features will sit alongside the system’s ability to integrate with third-party applications such as Lightyear, offering a choice of ways to increase accuracy and digitise previously manual processes.

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AICPA Honors 11 Forensic and Valuation Professionals

CPA Practice

The AICPA recently recognized the contributions of 11 finance professionals during the 2023 AICPA & CIMA Forensic and Valuation Services Conference held in Las Vegas in November. AICPA, as part of the Association of International Certified Professional Accountants, hosts this annual conference to provide the profession with cutting-edge information on new technology and quality networking opportunities.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

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AI will only work if ethics and transparency are at the core, says leading global accountancy body

Accounting Insight

ACCA says benefits of AI can be realised as it pledges to ensure its members have the skills and ethical knowledge necessary ACCA (the Association of Chartered Certified Accountants) is urging the UK government to put ethics, transparency and governance at the heart of its AI (artificial intelligence) policy. As the UK government’s AI Safety Summit meets at Bletchley Park – one of the birthplaces of computer science – to discuss how AI benefits can be realised, ACCA says that the only way to ens

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Black Ore Launches with $60 Million in Funding to Bring AI to Financial Services

CPA Practice

Black Ore , an AI platform for financial services, has launched and announced $60 million in financing led by a16z and Oak HC/FT. The company plans to use the funds to onboard new customers, grow its team, and accelerate the development of additional AI-products across financial services. Black Ore offers an AI and automation platform that accelerates core workflows for financial services businesses and simplifies the experience for their clients.

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Empowering Your B2B E-Commerce Customers With Self-Service

Withum

Self-service is becoming increasingly preferred in B2B e-commerce, with 99% of buyers willing to make a purchase in an end-to-end digital self-service model. This allows customers to place orders and manage their accounts without human interaction – giving them the flexibility and convenience to order anytime, anywhere. Without a doubt, customer behavior is changing.

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In the blogs: Minimum standards

Accounting Today

CPAs' real pay; crypto data released; factoring receivables; and other highlights from our favorite tax bloggers.

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How To Overcome Change Fatigue In Finance With Neuroscience-Backed Strategies

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.