Thu.Mar 14, 2024

article thumbnail

Best Practices for Managing High-Volume Accounts Payable

MineralTree

For scaling businesses, invoice payments rapidly grow in volume and complexity. However, many companies still rely on manual processes to manage accounts payable—and these outdated practices are causing problems across their financial operations. A manual approach slows down the payment process and increases the risk of errors and fraud while jeopardizing relationships with strategic vendors.

article thumbnail

Let’s Help Promote Collaboration With NJ Association of Community Providers

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post Let’s Help Promote Collaboration With NJ Association of Community Providers appeared first on Withum.

119
119
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Money Mule Networks Are on IRS Criminal Investigation’s Radar

CPA Practice

What are money mule networks, and why is the IRS Criminal Investigation (IRS-CI) unit warning taxpayers about them ? This month IRS-CI has joined forces with federal partners—including the Justice Department, the FBI, and the Department of Labor Office of Inspector General—to take part in an annual, multiweek effort deemed “The Money Mule Initiative” aimed at identifying and prosecuting facilitators of money mule schemes.

Legal 110
article thumbnail

Audit committees set priorities

Accounting Today

A majority of audit committee members are eyeing cybersecurity as a top priority in the next 12 months, followed by enterprise risk management and talent.

audit 115
article thumbnail

Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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.

article thumbnail

Russell Goldberg Inducted Into University of Central Florida College of Business Hall of Fame

Withum

Withum is proud to share that Russell Goldberg , Partner in Charge of Withum’s Orlando Office , has been inducted into the University of Central Florida College of Business Hall of Fame. Russell is a proud graduate of the University of Central Florida (UCF) Kenneth G. Dixon School of Accounting. In his illustrious career of nearly 35 years, he has always prioritized giving back to the organization and nurturing the next generation of accountants coming out of UCF.

Florida 105
article thumbnail

Top Trend Predictions for Not-for-Profits in 2024

Cherry Bekaert

Nonprofit organizations, from social services to trade associations and charter schools, play an essential role in supporting our communities. But these organizations often face several challenges and restrictions when it comes to fulfilling their missions. Throughout 2024, not-for-profit (NFP) organizations will have many opportunities to increase impact and streamline operations.

More Trending

article thumbnail

Inbound U.S. Tax Services

Cherry Bekaert

When expanding operations into the U.S. market, business owners must learn about the federal, state and local tax systems they will encounter. Sales tax in the U.S. is quite different from a value-added tax (VAT) or a goods and services tax (GST) assessed by many other countries. Companies selling goods and some services must comply with a sales tax system that can vary across thousands of taxing jurisdictions.

article thumbnail

Advisor Alliance: eTreem Partner Program

Insightful Accountant

With eTreem's Partner Program, you can grow your practice by helping clients simplify their accounts receivable while reducing the cost of inbound payments.

Account 101
article thumbnail

MassCPAs CEO aims to build accounting pipeline

Accounting Today

Zach Donah, the new CEO of the Massachusetts Society of CPAs has big plans for the organization.

article thumbnail

Unlocking Business Growth with ERP Systems for SMBs

AccountingDepartment

How an ERP system, such as Netsuite, tailored for the unique needs of SMBs, can be a pivotal tool in propelling small businesses to new heights.

article thumbnail

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.

article thumbnail

Professionals don't know what gen AI is, but plan to spend more on it

Accounting Today

A recent survey of professional service providers found that the majority aren't exactly sure what generative AI even is, but they still anticipate spending more for it in both the short and long term.

article thumbnail

AuditBoard and KPMG Partner for Risk Management

CPA Practice

AuditBoard , a loud-based platform transforming audit, risk, compliance, and ESG management, has partnered with KPMG LLP, the audit, tax, and advisory firm. Through this alliance, organizations will be able to leverage the combined power of AuditBoard’s award-winning connected risk platform and KPMG’s deep expertise to elevate audit, risk, IT security, and ESG programs, and help businesses better manage growing risk challenges.

audit 105
article thumbnail

Tax Fraud Blotter: A naughty streak

Accounting Today

Nothing sacred; on the Lamborghini; Empire lost; and other highlights of recent tax cases.

Tax 112
article thumbnail

February Retail Sales Saw Rebound

CPA Practice

Monthly data released by the U.S. Census Bureau shows retail sales expanded in February after a strong but flat January, National Retail Federation Chief Economist Jack Kleinhenz said. “Retail sales rebounded in a solid fashion in February, showing the consumer is still spending and pointing to underlying strength in the economy,” Kleinhenz said. “These results indicate that the economy is continuing to expand in the first quarter despite tight credit conditions and still-elevated inflation.

Sales 72
article thumbnail

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.

article thumbnail

The big 3 behind a healthy succession

Accounting Today

A healthy succession plan achieves three main objectives: continuity through client retention, client growth and fair financial treatment of all parties.

Maine 90
article thumbnail

Ex-IRS Commissioner Joins Tax Law Firm Chamberlain Hrdlicka

CPA Practice

Charles Rettig, who served as commissioner of the IRS during the Trump administration, joined tax-focused law firm Chamberlain Hrdlicka as a shareholder on March 4. He is the newest addition to the firm’s tax controversy and litigation practice, which is comprised of attorneys experienced in advising and representing taxpayers before federal, state, and local taxing authorities and in federal and state courts throughout the country.

Tax 64
article thumbnail

IASB proposes to improve acquisition reporting

Accounting Today

The International Accounting Standards Board hopes to enhance the information provided by companies to their investors about acquisitions under IFRS.

article thumbnail

Pi Day and Ides Day

Withum

Today, March 14, is Pi Day and tomorrow is the Ides of March (March 15th,) which was made famous by Shakespeare’s opening words in his play Julius Caesar. The play is not really about Julius Caesar but about the people who assassinated him and their plotting and later misfortunes. Would we ever think about the Ides of March if Shakespeare did not include those words in this popular and ageless play?

Tax 59
article thumbnail

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

article thumbnail

SAS 145 offers tech-powered audits for the future

Accounting Today

This new standard changes the game for auditors to make risk assessments even more effective.

audit 92
article thumbnail

Spending on Easter Forecast to Top $22 Billion

CPA Practice

Consumer spending is expected to reach a total of $22.4 billion this Easter, according to the annual survey from the National Retail Federation and Prosper Insights & Analytics. The total figure is the second highest in the survey’s history, after last year’s record-setting $24 billion when the holiday fell nine days later in the year. “Each year, Americans look forward to the celebration of Easter and the renewal of time and traditions with loved ones,” NRF President and CEO Matthew Shay s

Retail 59
article thumbnail

The Pros and Cons of Waterfall Project Management Methodology

Withum

The Waterfall project management methodology is a sequential project management approach that is utilized across various projects. This method is a linear, step-by-step process with a strong emphasis on the documentation that requires the completion of each phase before moving to the next. It offers advantages such as clear milestones, well-defined scope and structured planning, but also possesses certain limitations, including an inflexibility to handle change and limited client involvement.

article thumbnail

Grant Thornton Poaches a Partner From a Law Firm and Issues a Press Release

Going Concern

Grant Thornton’s asset management practice is moving up in the world as the firm announces they’ve stolen a partner from Philadelphia’s Stradley Ronon Stevens & Young, LLP. Grant Thornton LLP has welcomed Chris Scarpa to the firm’s Asset Management industry practice in Philadelphia. Scarpa joins Grant Thornton as a Tax principal, and he will use his nearly 30 years of experience to further strengthen the firm’s service offerings within the asset management sector.

article thumbnail

Recruit and Retain New Blue-Collar Talent

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.

article thumbnail

Oracle Fusion Cloud Application Suite adds dozens of gen AI features

Accounting Today

Oracle announced the addition of more than 50 generative AI features in its Oracle Fusion Cloud Application Suite.

article thumbnail

‘The Accountant 2’ Is a Go

Going Concern

According to an exclusive from Deadline , a sequel to the 2016 film The Accountant is for sure in the works. If anyone cares. Ben Affleck, Jon Bernthal, J.K. Simmons, and Cynthia Addai-Robinson have locked deals to return for The Accountant 2, the sequel to the Gavin O’Connor-directed action thriller The Accountant, on which Amazon MGM Studios has teamed with Affleck and Matt Damon’s Artists Equity.

Account 56
article thumbnail

On-Demand Webinar: Generating Actionable PortCo Benchmarks for GPs – ESG Data Convergence Initiative

Withum

The ESG Data Convergence Initiative (EDCI) is a collaborative initiative between Limited Partners (LPs) and General Partners (GPs) based around a set of core ESG metrics designed to create meaningful comparable PortCo benchmarks for private markets. With over 375 GPs and LPs actively involved, this collaborative effort is paving the way for a more transparent, resilient and socially responsible investment landscape.

article thumbnail

Oracle Adds Generative AI Capabilities to Oracle Fusion Cloud Suite 

CPA Practice

Oracle has added new generative AI capabilities within the Oracle Fusion Cloud Applications Suite that will help customers improve decision making and enhance the employee and customer experience. The latest AI additions include new generative AI capabilities embedded in existing business workflows across finance, supply chain, HR, sales, marketing, and service, as well as an expansion of the Oracle Guided Journeys’ extensibility framework to enable customers and partners to incorporate more g

article thumbnail

Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

article thumbnail

QSBS Quick Bites

Withum

Qualified Small Business Stock (QSBS) is one of the most advantageous provisions in the tax code. It refers to stock issued by a qualified small business that meets specific criteria outlined in Sec. 1202 of the Internal Revenue Code. Withum’s Founders and Tech Executives Services Team is here to help you and your company understand the eligibility requirements for QSBS as well as different strategies you can employ to maximize your tax savings.

Tax 52
article thumbnail

XeroCon 2024 Nashville: Aug. 14-15, 2024

CPA Practice

Affectionately nicknamed the “Coachella for accountants,” Xerocon will return to the US and be held in Nashville, Tennessee, from August 14-15, 2024. The event will be hosted at the Music City Center, allowing Xero’s community of accountants and bookkeepers from across the U.S., Canada and beyond the chance to connect, as well as options for earning CPE credit.

article thumbnail

The Core Services of a Modern CPA Firm

Summit CPA

Modern CPA firms have moved beyond the repetitive bookkeeping that characterized their work in the past. Programs like QuickBooks and Intuit have made it possible for non-accountants to do basic bookkeeping. However, as Roger Knecht of the Universal Accounting Center explains in an interview on the Modern CPA Success Show , “accounting is the analysis.

article thumbnail

Business Lifestyle Analysis

FraudFiles

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. When a spouse is attempting to quantify the income from the business [.

Finance 52
article thumbnail

How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.