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When analyzing a company’s financial statements, you’ll often come across two different measures of profitability: net profit and revenue. But here arises the next question: What is the difference between profit and revenue? These two key performance indicators (KPIs) are both included into standard accounting reporting and are often confused. While both metrics are useful in their own right, they provide very different insights into the performance of a company.
With the EY cheating scandal making headlines even outside of our precious little accountosphere we decided to take a look at the full SEC order to answer the question — how and why were EY auditors cheating on CPE exams? This post will be long so we’ll get deeper into the CPA ethics portion of the cheating debacle in another article. The long and short of it is, EY auditors trying to shortcut CPE took advantage of a software exploit.
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.
The hardworking human beings at Audit Analytics have released their analysis of initial public offering trends and IPO auditor market share for the first quarter of this year , a period in which the number of companies going public was minuscule compared to Q1 of 2021. All told there were 84 IPOs on the New York Stock Exchange and Nasdaq between Jan. 1 and March 31, raising a total of $11.3 billion, compared to the 407 IPOs in the first quarter of 2021 , which raised nearly $134.7 billion.
Russia’s invasion of Ukraine has people across the U.S. thinking of ways to donate to the Ukrainian people. Businesses giving charitable donations, like money and property, are common. But, there are other ways to contribute. Employees can make PTO donations to Ukrainian refugees to help raise money for those in need. Read on to learn […] READ MORE.
Russia’s invasion of Ukraine has people across the U.S. thinking of ways to donate to the Ukrainian people. Businesses giving charitable donations, like money and property, are common. But, there are other ways to contribute. Employees can make PTO donations to Ukrainian refugees to help raise money for those in need. Read on to learn […] READ MORE.
Over the past two years, challenges posed by the pandemic as well as the rising cost of living have not only made it increasingly difficult for small businesses to survive and thrive, they’ve also placed a huge strain on owners’ mental wellbeing. . According to our study with CEBR (Centre for Economics and Business Research), only around half (55%) of small business owners know where to turn to get the mental health support they need.
Summer is starting, so if you are planning to take the Certified Payroll Professional (CPP) exam during the Summer/Fall 2022 testing period, it would be a good idea to start working on those flashcards and find information for the seven main topics of the CPP test. According to the American Payroll Association (APA) website, core payroll concepts make up 24% of the exam.
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.
9 min read. In inflationary times, cash is king. History is known to repeat itself- and history tells us that improving your business’s cash flow is the weapon of choice to combat inflation. How you manage your cash flow can make or break your business. So, what steps and actions can you take today to prepare your organization?
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.
Payroll’s biggest event. We attended American Payroll Association’s (APA) annual Congress in Las Vegas, Nevada. APA’s Congress was one of the year’s highest attended payroll conferences with nearly 100 workshops and almost as many vendors spending five days in the desert to talk about a variety of payroll topics and network with other payroll professionals.
Beginning July 1st, we have local minimum wage increases taking effect in many of the cities that you operate in. In the cities of Santa Monica, Malibu, and unincorporated areas of Los Angeles County minimum wage is increasing from $15.00 to $15.96. In the City of Los Angeles, the new minimum wage will increase to Read the full article. The post Minimum Wage Increase – July 2022 appeared first on KROST.
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.
While most accounting teams use Excel for their spreadsheet needs, a growing number of teams and organizations are moving to Google Sheets. At time where remote teams are ubiquitous, collaboration and cost ( Google Sheets is a free tool), are driving greater adoption of Google applications. Here are three helpful formulas in Google Sheets that all accounting teams should know. .
As many as 23 million Californians will receive payments up to $1,050, thanks to that tax relief plan, which is estimated to be valued at about $17 billion. The state has a population of about 39.4 million.
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.
One of the most eye-opening experiences I ever had in my professional career was within the first two months of starting my public accounting journey. Let me set the stage. It was the end of busy season, everyone was tired and we saw a partner walking over. Immediately we thought we’d receive more work, but Read the full article. The post Making a Difference appeared first on KROST.
Without a doubt, the future of retail business relies on the internet. Therefore, every business owner is now trying to figure out how they can take advantage of the growing online shopping community to increase their sales. Fortunately, well-established and reliable e-commerce platforms like Shopify have made it possible for small and medium enterprises to have online stores without spending large amounts of money on creating e-commerce websites.
In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024 for unincorporated businesses and landlords with trading and property income of more than £10,000 the basis period rules are being reformed. At present, once an unincorporated business is established, it is taxed on the current year basis. This means that the profits which are taxed for a particular tax year are those for the accounting period that ends in that tax year.
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.
In the world of B2B payments, virtual cards now transmit money and data without plastic at all. Corpay's Keith Axelsen on how the technology is powering new digital business models.
There’s some new Deloitte research out this week and it is hi-lar-ious. It seems executives have absolutely no clue what their underlings are going through, mistakenly think they’re doing a good job of making said underlings think they care, oh and they too are stressed AF and thinking about quitting their jobs. Man, things are F *D. Deloitte partnered with independent research firm Workplace Intelligence to survey 2,100 employees and C-level executives across four countries: the Uni
In case you’ve been in a 24 hour coma and missed the news, we heard yesterday of an EY cheating scandal that led to the SEC slapping them with a $100 million penalty, the largest ever imposed by the SEC on an audit firm. Well Reddit certainly didn’t miss the story. Good luck to any incoming interns/first years trying to get serious answers to their career questions for the foreseeable future.
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.
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