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Author: Fred Nitting, Managing Director, Risk & Accounting Advisory Services Identifying the right internal auditor is a crucial business decision and professional CPA firms vary widely in terms of capabilities, resource availability, qualifications and much more. Establishing a relationship is important, as your internal auditor provides business insights and becomes an integral part of your organization’s long-term success.
In the past several decades, few topics have driven as much conversation among accounting professionals and firm leaders as has ongoing private equity investment in firms. This phenomenon has caused the profession to rethink the very model of firm ownership, success, partnership and hierarchy. It’s definitely not the model of firm management that your mother or father experienced or envisioned, if they were an accounting professional.
The IRS issued a press release with a renewed warning to taxpayers regarding claims for the Employee Retention Credit (ERC) on March 7, 2023. This marks the third time in six months the IRS has issued a written warning to taxpayers – the first two were issued in October and November of 2022, and we wrote about the October notice here. If your business plans to claim or already has claimed the ERC, it is imperative that you substantiate your claim because the IRS is signaling significant enforcem
As a trucker, filing taxes can be a daunting task. The paperwork, deadlines, and complex tax laws can leave you feeling overwhelmed and uncertain about your tax obligations. However, failing to file your taxes can have severe consequences, including back taxes, penalties, and even legal action. If you are struggling with back taxes, it is essential to seek professional help to avoid further financial hardship.
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.
This sample can be customized for adoption by a Board of Directors and implementation by a startup's management team. The post A Sample Investment / Treasury Policy Template for Startups appeared first on Burkland.
Today is the day that PwC ushered in a new era for professional services : a global partnership with AI startup Harvey, offering PwC’s legal professionals “exclusive access” (that is, they are the only Big 4 firm who has it) to the platform. It’s a shame we had to scroll all the way to the bottom of this celebratory news release to find this disclaimer: AI will not be used to provide legal advice to clients and AI will not replace lawyers, nor be a substitute for professi
Anders has been recognized as one of Accounting Today’s Top 100 Firms for the third year in a row. After breaking into the Top 100 Firms in 2021, Anders continued to gain momentum in 2022, moving up six spots from #100 to #94. The firm merged in Summit CPA Group last year and combined with organic growth they climbed 16 spots up the list to #78 in 2023.
Anders has been recognized as one of Accounting Today’s Top 100 Firms for the third year in a row. After breaking into the Top 100 Firms in 2021, Anders continued to gain momentum in 2022, moving up six spots from #100 to #94. The firm merged in Summit CPA Group last year and combined with organic growth they climbed 16 spots up the list to #78 in 2023.
Oracle NetSuite is releasing the first ERP functionality updates for 2023 on March 16. Not sure what to expect? Here is your ultimate guide to the top 9 new NetSuite 2023.1 features and how they work. Top 9 NetSuite 2023.1 Features 1. Automating Period Close Revenue Recognition Entries Existing NetSuite users already understand the tremendous benefits of automating complicated revenue recognition rules.
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.
All employers are responsible for reporting employee wage and tax information to the IRS. Many employers use Form 941 to report this information each quarter. But, some eligible small business owners use Form 944 to report wages and taxes annually instead. Are you one of them?
The IRS has scanned more than 120,000 paper forms 940 since the start of this year, a 20-fold increase compared to all of 2022, the agency said on March 8. The scanning effort is part of a multiform, multisolution initiative known as Digital Intake, which will soon expand to include scanning of forms 1040 and forms 941. “Technology powers tax administration, and we have completed important work over the last year to help people get the assistance they need and reduce paper, in addition to improv
Closely held businesses present special challenges in the family law setting. Typically, only one spouse is actively involved in the business. Therefore, not only does the spouse control the family’s finances, he or she also controls all of the records of the business.
Your company sold a product or service to a customer on credit, and now it's time for the customer to pay their dues. In a traditional workplace, an invoice would be manually generated and issued to the customer, and then the customer would issue payment in return via cash, check, etc. It ultimately makes for a long, drawn-out process that leaves room for error and delays, not to mention that handling business that way is now a thing of the past.
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.
If you’re an accountant, then you are probably familiar with QuickBooks Online. But what happens when you need to manage your accounts receivable and accounts payable workflows? That’s where Lockstep Inbox comes in. Lockstep Inbox syncs with QuickBooks Online and your email, allowing you a single application to manage both workflows. This saves time, money, and improves collaboration.
The development of technology and its impact on our personal and business lives never ceases to amaze. From the first transistor in the 1940s to personal computers in the 1970s, the Internet in the 1990s (following its predecessor, ARPAnet in the 1960s), to the smartphone in the early 2000s, virtually every aspect of modern life Read the full article.
If you’re an accountant, then you are probably familiar with QuickBooks Online. But what happens when you need to manage your accounts receivable and accounts payable workflows? That’s where Lockstep Inbox comes in. Lockstep Inbox syncs with QuickBooks Online and your email, allowing you a single application to manage both workflows. This saves time, money, and improves collaboration.
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.
U.S. business executives still have grave concerns about the economy but have grown more optimistic about revenue and profit expectations and other key indicators for the coming year, according to the first-quarter AICPA & CIMA Economic Outlook Survey. The survey polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles.
Keeping pace with the latest innovations in technology is important for any firm looking to remain competitive and better serve clients in today’s challenging environment. This is especially true for firms eyeing a capital infusion from private equity investor s. While such investments may not have been much of a consideration in prior years, times have changed.
Alongside the expected announcements on extending energy support and inflation reduction, the chancellor’s budget focused heavily on getting people back in to work to fill the over 1 million vacancies in the economy. While many of these measures are welcome, they may not be enough or come soon enough to have a major impact on the economy in the short term.
The Ides of March (March 15 th ) are beginning words in Shakespeare’s Julius Caesar. Here are some pithy quotes from Shakespeare. Shakespeare Quotes Small things make base men proud. Having nothing, nothing can he lose. Every why hath a wherefore. For slander lives upon succession, forever housed where it gets possession. What you cannot as you would achieve, you must perforce accomplish as you may.
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.
Portfolio Valuation and Alternative Asset Advisory Due to increasing regulatory scrutiny, asset mangers, fund managers and alternative asset managers are often required to perform thorough and unbiased valuation analysis for an array of financial and accounting reporting purposes. The valuation specialists at Cherry Bekaert are exceptionally well-qualified in the valuation of illiquid debt, equity and derivative securities of private companies, private debt funds, private equity funds, business
Profitability varies depending on your client. So, what would a sudden rise in fees do to your relationship with them? Here are four ways to approach your strategy.
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.
Have you wondered about the importance of client retention for your accounting firm? In this episode, I discussed about customer churn and presented a 5-pronged strategy that firms can adopt to keep their clients. Listen Below. 0:34 – A student in my Future Firm Accelerate program asked about retaining clients and gaining referrals, which sparked this episode regarding customer churn and client retention. 1:14 – I shared an easy 5-pronged approach that firms can easily and effectivel
Check out the accounting software financial technology business that provides accounts payable, procurement and global payments automation software for businesses.
The Chancellor announced his March budget today. Similar to the budgets, autumn statements and ‘non-budget’ statements of the last few years we knew most of the details in advance. What we did find out yesterday is that UK PLC is in a better position than feared. It is believed that inflation will fall to 2.9% by the end of 2023. However, finding staff is a problem faced by most small businesses.
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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