Canopy Accounting
APRIL 21, 2023
If you've spent any time near a screen lately, you’ve heard of ChatGPT — a language model trained by OpenAI. Every day, a new thread appears of someone who has figured out the next thing ChatGPT can do. With the evolution of AI and OpenAI-based architecture, almost every industry must decide how to incorporate AI into their work models, including ours.
SMBAccountant
APRIL 21, 2023
The past few years have forced many small businesses to face issues with the supply chain that they had previously never considered. Even the most prudent risk manager couldn’t have anticipated the far-reaching impact that the pandemic had on nearly every aspect of life. These new challenges have changed purchasing habits for many small businesses and as things start to return to normal, practices, such as inventory may need to be reevaluated.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
CPA Practice
APRIL 21, 2023
Rethinking Succession: The Unconventional Choice It’s human nature to surround ourselves with people who are similar to us, after all who could be better than you but another you? When tasked with choosing a successor for your current role, whether as a partner at a firm, running your own practice, CFO, or any other position, the idea of finding a Mini-Me might feel comforting.
Going Concern
APRIL 21, 2023
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. Big 4 EY Confronts Slowing Growth After Breakup Deal Fails [ Wall Street Journal ] Read this whole thing because it’s hilarous(ly awful for EY).
Advertiser: Paycor
There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.
CPA Practice
APRIL 21, 2023
By Kyle Stock, Bloomberg News (TNS) Americans love a Ford pickup truck; it’s one of the few constants of the car business. So it was a huge win on Tuesday when Ford’s F-150 Lightning became one of just 10 vehicles to qualify for the full $7,500 in tax breaks laid out by the Inflation Reduction Act. Dozens of other electric cars and trucks didn’t make the cut, either because they aren’t manufactured in the U.S. or don’t use American parts and pieces.
Going Concern
APRIL 21, 2023
The following tidbit of information about the aftermath of the Project Everest failure is going in Footnotes later today however we felt it important to call it out for those who skip the weekly linkwrap. Apologies for doubling down on EY news today. WSJ published an exclusive about the post-Everest mess at the crack of dawn yesterday and honestly the whole thing is worth a read, especially so if you have an EY.com email address.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Insightful Accountant
APRIL 21, 2023
The new function will be released in a beta mode with select customers on April 26 with the expectation of rolling it out to Canopy’s full customer base in May.
CPA Practice
APRIL 21, 2023
By Theresa Braine, New York Daily News (TNS) Death and taxes may both still be inevitable, but waiting to talk to the IRS soon won’t be, the agency claims. The IRS said Monday that its average wait times for phone calls is now 4 minutes, down from 27 last year. This year’s tax filing deadline is Tuesday. Thanks to last year’s Inflation Reduction Act, the IRS got a funding boost that enabled it to improve customer service all around for the 2023 tax season.
Going Concern
APRIL 21, 2023
Earlier this week WSJ’s CFO Journal posted a piece entitled “ Ernst & Young, After Its Failed Split, Could Find Itself Vulnerable to Staff Poaching.” They might as well have made the headline “Hey Big 4 Firms, There’s a Carcass Full of Meat Here For You to Pick Pieces Off Of” because the premise of the whole article is laying out in graphic terms just how exposed EY is right now and how easy it is to grab talent from them.
CPA Practice
APRIL 21, 2023
By John Graziano, CFP®. If you’re an accountant looking to improve your credibility and attract new clients, offering financial planning services can help. According to the American Institute of CPAs, the demand for financial planning services is at an all-time high. In fact, the U.S. Bureau of Labor Statistics predicts that the need for financial advisors will grow 15% between now and 2031.
Advertisement
Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
GrowthForceBlog
APRIL 21, 2023
6 min read In every workplace, people of different personalities, opinions, and experiences come together – and this kind of diversity can be of great benefit to businesses as everyone's different backgrounds and approaches can lead to incredible creativity, innovation, and problem-solving abilities. Differences, however, also tend to lead to conflict.
CPA Practice
APRIL 21, 2023
By Adedibu Adesokan. Accurate and timely financial reporting is critical for businesses. It provides a clear and concise picture of a business’s financial health, helping executives to make informed decisions and maintain the trust of investors, lenders, and other stakeholders by promoting transparency. By seeing exactly where money is being spent and potentially wasted, focus can be turned to more profitable endeavors.
Randal DeHart
APRIL 21, 2023
Many problems can be traced back to the "Halo Effect," which happens when a contractor thinks, "We are so good at (fill in the blank) we should expand into (fill in the blank)." The most common situation is when a residential remodel contractor with a reputation and a substantial company generating 15% or more profits decides to start building custom homes.
CPA Practice
APRIL 21, 2023
The Illinois CPA Society (ICPAS)—one of the largest state CPA societies in the nation—has announced the honorees of its annual Outstanding Leadership Awards program, which celebrates distinguished leaders within the CPA community through a variety of prestigious awards. “It’s such a privilege for us to be able to honor those who have gone above and beyond in their service to our organization and the accounting profession,” says Geoffrey Brown, CAE, ICPAS president and CEO.
Advertiser: Paycor
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.
Cherry Bekaert
APRIL 21, 2023
The Internal Revenue Service (IRS) made headlines this past year with the news that they would be receiving an additional $80 billion towards their budget over 10 years through the Inflation Reduction Act of 2022. With the IRS facing many of the same issues they have been dealing with for more than six decades, the question remains: what will be different this time?
CPA Practice
APRIL 21, 2023
By Lucas Siegel. As record-high inflation saps wealth and purchasing power, your high-net-worth clients may be interested in strategies to restructure their finances. For some, that restructure could involve liquidating life insurance via a life settlement , which would come with tax implications. Life settlement taxation is governed by the Tax Cuts and Jobs Act of 2017 (TCJA), signed into law by former President Trump in early-2018.
Accounting Insight
APRIL 21, 2023
In light of the recent Spring Budget announcement, the Chancellor presented his proposals to reduce inflation by 50%, boost economic growth, and reduce debt. Despite the persistent challenges facing our economy, there is a growing inclination towards implementing digital reforms. Once more, the current economic climate poses a significant challenge for presenting a Budget.
CPA Practice
APRIL 21, 2023
Canopy , a provider of practice management software for accounting firms, has added ChatGPT AI to its all-in-one accounting practice management software. The new ChatGPT functionality in Canopy allows users to craft an email simply by adding keywords and adjusting the level of formality of the message with one click. It also allows for rephrasing messages, or quickly correcting spelling and grammar.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Cherry Bekaert
APRIL 21, 2023
The Internal Revenue Service (IRS) recently released Notice 2023-21 clarifying how the postponed tax return filing deadlines in 2020 and 2021 affect amended return filings. In April 2020, the IRS issued Notice 2020-23 , which postponed certain 2019 federal tax return filing and payment deadlines until July 15, 2020. Similarly, in April 2021, the IRS published Notice 2021-21 , which postponed certain 2020 federal tax return filing and payment deadlines to May 17, 2022.
CPA Practice
APRIL 21, 2023
The American Institute of CPAs (AICPA) has expressed its support of H.R. 1477, the Freedom to Invest in Tomorrow’s Workforce Act. The bipartisan bill – sponsored by Representatives Abigail Spanberger (D-VA) and Rob Wittman (R-VA) – -, including professional credentials and certifications. It would provide accounting professionals with greater financial flexibility as they enter the workforce and seek to further their education.
FraudFiles
APRIL 21, 2023
Education is a highly effective fraud prevention technique for companies. Studies have shown that companies with anti-fraud educational programs in place can cut their fraud losses in half. By educating employees, management is giving them the tools to help look for and stop fraud.
DMCL
APRIL 21, 2023
The recently released 2023 federal budget made significant commitments and offered significant incentives to encourage Canadians to go green. If you haven’t already, it’s time that each of us pause and take a serious look at how we can support a greener Earth. DMCL is no exception and, this Earth Day, we’re proud to share our journey towards becoming net-zero.
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.
Dent Moses
APRIL 21, 2023
Our firm works with hundreds of businesses of all shapes and sizes. Though there are many different business structures and industries, there are many commonalities. Our business clients are usually focused on sales, cash flow, and growth. Accounting needs are often considered a necessary evil rather than a priority. Oftentimes, one of the owners or a family member is tasked with handling the dreaded accounting responsibilities.
Withum
APRIL 21, 2023
As you may know from my first blog, How to Use Power Automate , Power Automate is a series of different tools that allow you to automate repetitive, tedious, or time-consuming tasks that can help increase the productivity of your business and its employees. With April finally here, Microsoft has announced what Power Automate users can expect in the upcoming months all the way until September 2023.
Canopy Accounting
APRIL 21, 2023
April 21, 2023 (Draper, UT): Canopy , provider of industry-leading practice management software, announced today the integration of ChatGPT AI in its all-in-one accounting practice management software.
CPA Practice
APRIL 21, 2023
The American Institute of CPAs (AICPA) has submitted suggestions for improvements to the Internal Revenue Service on the current section 645 final regulations election to treat a trust as part of an estate ( TD 9032 ). These recommendations will simplify filing for taxpayers and practitioners and will reduce the administrative burden on the IRS as well.
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
Accounting Insight
APRIL 21, 2023
Introducing Streem Connect, first time exhibitors at Accountex London. Spend a couple of minutes getting to know them and what they’ve got in store for the show. What do Streem Connect do? Streem Connect provide comprehensive bank statement analysis, reconciliation, and financial management tools for accountants and other financial professionals.
CPA Practice
APRIL 21, 2023
In a recent letter, the American Institute of CPAs (AICPA) provided comments on the need for guidance from the Department of the Treasury and the Internal Revenue Service (IRS) that can be used to assist taxpayers in properly calculating their losses on digital assets. The AICPA is asking that the IRS provide guidance that will clarify how digital asset losses are handled in various scenarios.
Withum
APRIL 21, 2023
Explore Other Episodes #CivicWarriors #WithumImpact The post Fighting and Surviving Cancer With Amanda Ferraro appeared first on Withum.
CPA Practice
APRIL 21, 2023
BPM LLP , one of the 40 largest public accounting and advisory firms in the country, has launched the BPM Business Lifecycle Center, a new, interactive resource for entrepreneurs, founders, business owners and executives, offering critical support to navigate the current market environment and pave the future. The multichannel platform delves into the three primary phases of organizational growth – Startup, Growth & Expansion, and Liquidity– as well as the potential challenges and opportunit
Advertiser: Paycor
Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.
Expert insights. Personalized for you.
105 
Let's personalize your content