Fri.Jul 22, 2022

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Global economy set for weak growth as financial professionals’ confidence drops sharply

Accounting Insight

All the main global indicators fell in the Q2 Global Economic Conditions Survey (GECS), pointing to a decisive deterioration in the global economic outlook. . Weak growth looks the most likely outcome for the rest of 2022, according to the latest edition of the Global Economic Conditions Survey (GECS) from ACCA (the Association of Chartered Certified Accountants) and IMA ® (Institute of Management Accountants).

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Accounting for Payment Gateways: Shopify Payments vs Alternative Shopify Payment Methods

Snyder

What makes Shopify accounting special for thousands of e-commerce businesses? Firstly, it’s the option to connect several payment gateways to your online store. Secondly, the ability to accept Shopify POS and manual payments in addition to online orders. For customers, these features make paying for goods extremely convenient. But for merchants, using multiple Shopify payment methods at once becomes challenging in terms of bookkeeping. .

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Friday Footnotes: New Managers Share Wisdom; KPMG Praised??; PwC Creeps Leave | 7.22.22

Going Concern

What new managers wish they’d known [ Journal of Accountancy ] “Having responsibility doesn’t mean I can’t be a little firm with my team. I learned how to say ‘no.'” Three PwC staff leave firm after ‘rating women’ scandal [ Australian Financial Review ] Three PwC staff members who allegedly attended male-only events where they rated the attractiveness of women in their office have left the firm, with the firm’s leadership labelling the behaviour as “unacceptable” fo

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Common Construction Contractor Bookkeeping Issues With Accounts Payable

Randal DeHart

Accounts Payable keeps track of the bills owed to a supplier or subcontractor. A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track unpaid bills. The bank wants to get paid, and unlike the contractor who is embarrassed to call an old customer, the bank is very willing to call early and often for any outstanding payments due.

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How to Build the Ideal HR Team

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.

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Canadian Accounting Firms Are Getting Rid of Bonuses So They Can Pay More?

Going Concern

CPA Canada has shared some Canadian accounting firm hiring trends worth keeping an eye on. Among them? Ditching bonuses. Despite their longtime presence in the traditional CPA compensation package, bonuses are being abandoned in some firms, notes Adele Harraway, managing partner, Canadian Accounting Consultants, which specializes in CPA recruitment.

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Illinois Small Businesses: Upcoming Aug 5-14 Sales Tax “Holiday” Is Anything But One

Nancy McClelland, LLC

My inbox on June 27th. On June 27th I woke to find dozens of notifications from MyTax Illinois in my email inbox — one for each and every client of ours who files sales taxes. Just in case you got one or more of these yourself and haven’t logged in to check it out yet, here’s what it looks like — It doesn’t give you much to go on — just a sort of “hey we saw you’re registered to file sales taxes, so you should read these four bulletins which may or

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Documenting Data in Business Reports

Snyder

Business insights are crucial to e-commerce success. To make informed decisions, store owners need to use accounting insights solutions to track and analyze metrics on a regular basis. Producing business reports is one of the most effective ways to do this. It’s important you understand what to include in a business report and how to present data in a way that is both informative and easy to understand.

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Future of ESG – Why CPAs Will Dominate ESG 

Withum

ESG is the wild west of finance, but times are changing. The International Financial Reporting Standards (IFRS) formed the International Sustainability Standards Board (ISSB) to consolidate ESG standards and create new standards it hopes will be adopted worldwide. The European Union (EU) created the EU Taxonomy , a green classification scheme for specific economic activities – a de facto ESG dictionary.

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UK Audit Watchdog Says Deloitte Is Doing Some Good Auditing Across the Pond

Going Concern

Deloitte is doing a great job keeping the Financial Reporting Council happy these days, per the FRC’s recently released 2022 Audit Quality Inspection and Supervision Report they are pleased with the progress the firm has made and the absence of serious deficiencies: In the 2020/21 public report, we concluded that the firm had made progress on actions to address our previous findings and made improvements in relation to its audit execution and firm-wide procedures.

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IRS grilled over fake charity fraud schemes

Accounting Today

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Planning Your Restaurant's Path to Profitability

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.

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We've Got a Bigger Problem Now

Accounting Web

Practice Excellence We've Got a Bigger Problem Now.

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Revamped CPA exam will bring big changes

Accounting Today

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Speak to Students – Flashback Friday

RitaKeller

“Let us remember: One book, one pen, one child and one teacher can change the world.” – Malala Yousafzai. Profession leaders are urging CPAs to go into high schools and speak about the benefits of majoring in accounting in college and becoming a CPA. I have additional advice. Check out this flashback post. Have a great weekend!

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Tech News: Sage and Microsoft deepen partnership

Accounting Today

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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WorldRemit parent Zepz names Bill.com executive Lenhard next CEO

Accounting Today

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On the move: KPMG names chief economist

Accounting Today

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RSM named first Certified Implementer of Bloomberg tax tools

Accounting Today

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Businesses need better tech to keep up with tax changes

Accounting Today

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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8 questions to ask about a tax outsourcing partner

Accounting Today

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Senate’s bipartisan chips bill would add $79B to U.S. deficit

Accounting Today

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Senate Democrats introduce pot decriminalization bill against odds

Accounting Today