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How often have you hired someone with the expectation that they know how construction works, and then you found out they did not know about it? You are a master in the construction industry, so you recognize what to look for in your particular field and quickly observe if someone has the skillsets, and you proceed accordingly. You know what happens when you send your best Rough Carpenter that you pay piece work for framing spec from the ground up in all kinds of weather and working conditions to
Are you worried your business won’t receive what a liquidating creditor owes it? In most cases, liquidating companies come by their financially distressed situations honestly. But there’s always a chance that a debtor has made fraudulent transfers or taken other steps to hide assets from creditors. A solvency expert can help you and your legal counsel determine whether a liquidating business is capable of meeting its interest and repayment obligations.
By Christina Luttrell, Chief Executive Officer for GBG Americas ( Acuant and IDology ). Tax season is always stressful. Hurried filers inundate tax preparers working furiously to help their clients file on time while the dreaded tax deadline looms. However, it’s important to pause and reflect on your data privacy standards, digital communication norms, and potential vulnerabilities this tax season.
It was only a couple days ago that the Journal of Accountancy published an interview with NASBA CEO and President Ken Bishop in which Bishop sternly warns states against even thinking about lowering the CPA licensure requirement to 120 units, something something mobility blah blah. To save you a click, here’s a relevant snip of that JofA article and his comments, published February 10: “Should any state or jurisdiction lower the licensure requirement to 120 hours, their CPAs would no longe
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.
By Gail Cole. Marketplace facilitators are being required to monitor and vet high-volume marketplace sellers in a growing number of states, including Arkansas , California , and Oklahoma. And with the December 2022 enactment of the Consolidated Appropriations Act, 2023 , Congress is setting similar requirements on online marketplaces nationwide.
Amanda Iacone has written a piece for Bloomberg Tax about the EY split and how it stands to shake up an already shaken industry, the whole thing is worth a read. We already know there is a talent war, and we also know that PwC in particular is eager to snap up unhappy EY talent (see: PwC Plans to Poach Unhappy Senior Managers From EY and PwC Declares a Poaching War on EY ), but now we know that despite countless potential new hires saying the split kinda freaks them out, the new recruits are so
I’m very proud to again be partnering with the National Society of Accountants for Cooperatives (NSAC) to offer an entertaining and educational upcoming webinar, “ Hippie Co-ops? Expanding Your Co-op Expertise to Other Cooperative Niches “, on Tuesday, February 21, 2023, at 2 PM ET/1 PM CT/ 12 PM MT/ 11 AM PT. The focus of this webinar is to teach existing accountants who are already familiar with co-op accounting about the similarities and differences between the types of clie
I’m very proud to again be partnering with the National Society of Accountants for Cooperatives (NSAC) to offer an entertaining and educational upcoming webinar, “ Hippie Co-ops? Expanding Your Co-op Expertise to Other Cooperative Niches “, on Tuesday, February 21, 2023, at 2 PM ET/1 PM CT/ 12 PM MT/ 11 AM PT. The focus of this webinar is to teach existing accountants who are already familiar with co-op accounting about the similarities and differences between the types of clie
Big 4 EY expects ‘massive approval’ in vote to split up company [ Reuters ] Partners in EY are expected to give approval for spinning off the company’s consulting arm and listing it on the stock market by the end of the year, a senior EY official said on Tuesday. Over 13,000 partners – out of EY’s 365,400 staff – are due to vote on the divestiture plan in April with the outcome known quickly, said Marie-Laure Delarue, EY’s global vice chair for assurance
It’s the dream of every person who owes back taxes—the IRS somehow ignores or forgets about a tax debt long enough that the debt simply expires. Nice as it sounds, the IRS is unlikely to let that happen. However, that doesn’t mean that tax pros can’t use the collections statute expiration date (CSED) to their advantage in helping their clients.
Recently, one of our clients wanted to know the rules for hiring their children in their business and using those funds to contribute to a retirement account. In the old days, allowances were used to teach our kiddos how to handle money. But as they grow up, it’s possible to teach them how to manage. The post Rules for Paying Your Kids to Work In Your Business appeared first on LSL CPAs.
6 min read According to a Harvard study of MBAs, the individuals who set written goals earned 10x more after graduation than their fellow graduates who did not write down their goals [1].
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.
Every two weeks Avalara releases the latest #AccountingTop100 Social Media Leaderboard, the growing online community where participating accounting professionals can see how they stack up against their friends on social media. Accounting professionals are invited to apply to join the leaderboard and also check out Avalara’s Partner Program , which provides accountants with the tools they need to help support their clients.
Digital asset exchanges could soon face new challenges for assets held by hedge funds or private equity firms in the United States. On February 15, 2023, the Securities and Exchange Commission Voted 4 to 1 in favor of proposing a new requirement for registered investment advisers to hold digital assets through a qualified custodian. The proposal would also require these custodians to abide by specific regulations.
UHY Advisors has released its 2023 Middle Market Survey Trends Report. Polling over 250 executives across the public and private middle market, the report looks into the key trends, challenges and successes that businesses are set to experience throughout 2023. Key findings in this year’s report include: Middle market shows resilience but believe 2023 will upend current growth Despite ongoing recovery fears throughout the business world, 72 percent of middle market executives say they have at le
States eye workforce as a legislative priority On February 5, 2023, the U.S. Department of Labor (DOL) announced its efforts to celebrate the 30th anniversary of the Family and Medical Leave Act (FMLA) with nationwide events that included interagency outreach and collaboration and the launch of a dedicated webpage with new and updated resources [ DOL News Release, 23-3-NAT, 02/06/2023 ].
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.
In your time as a business owner you’ve probably heard the terms “margin” and “markup” used interchangeably. The truth is they’re two closely related but very different things. So how do you understand the difference and determine when it’s appropriate to use one or the other? Knowing how to calculate margin and markup is a good start.
Trends constantly come and go in the accounting world. At one point in time, managing books by hand was all the rage (and the only way to do it). Now, cloud-based accounting is on the rise. So, what does the future of accounting look like?
Thomson Reuters has announced the release of Checkpoint Engage Single Audit, the only web-based application that automates the entire single audit process. “Each year, U.S. accounting firms perform approximately 40,000 single audits for clients who receive federal grants. The single audit process is very complex, specific, and ever-changing,” said Piritta van Rijin, Global Head of Product, Accounting, Tax & Practice, Thomson Reuters.
This webinar, presented by Ryan Miller, and Sienna Richert of Withum’s Healthcare Services Group, will provide an accounting and auditing update applicable to healthcare organizations. The team will go through recently issued Accounting Standard Updates, with an in-depth look at pronouncements applicable to the industry, including AICPA and FASB updates, and new accounting standards.
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.
Do you need investors to start a business? During the early stages of your startup, you may struggle to attract venture capitalists and angel investors. While working with investors provides a fast and sustainable way to raise money and scale your business, there are other available routes.
In your time as a business owner you’ve probably heard the terms “margin” and “markup” used interchangeably. The truth is they’re two closely related but very different things. So how do you understand the difference and determine when it’s appropriate to use one or the other? Knowing how to calculate margin and markup is a good start.
Companies typically have a standard way of initiating cash disbursements like payments to vendors or employees. Often this involves entering an invoice into the accounting system, ensuring proper approval for payments, and then generating the electronic transfer or check.
Money laundering is a serious and widespread issue in the United Kingdom. One recent example of this is Santander Bank being fined £108m for anti-money laundering failures at the end of 2022. It’s one of a number of high-profile examples showcasing anti-money laundering (AML) processes not matching up to the threat. Accountancy services, in particular, remain an attractive target for money launderers, who are looking to find ways of making their funds legitimate.
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.
By Ira Rosenbloom, The Merger Master. CPA firms, like all businesses, must know how to assess success and identify areas in need of improvement. Strong success provides firms with more options to recruit and train talent, promote leaders, add services, and complete transactions that it wants to close. The better the business, the greater the potential for happiness.
Menzies LLP - A leading chartered accountancy firm. Businesses considering exporting goods for the first time should take care when planning ahead, as when it comes to managing cash, things can become a lot more complicated while trading internationally. While many first-time exporters will be drawn in by the revenue opportunities that new geographies may offer, the decision to expand overseas should not be taken light heartedly.
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