Wed.Dec 06, 2023

article thumbnail

How to enhance the audit experience

Menzies

Menzies LLP - A leading chartered accountancy firm. Importance of an Audit A lot of business owners think audits are much of a muchness, however their quality can vary significantly. In some instances, the client relationships formed and the process itself can have a lasting impact; which enables the business to make choices which could lead them to a much more profitable future.

audit 52
article thumbnail

IRS disallows 20K Employee Retention Credit claims amid crackdown

Accounting Today

The Internal Revenue Service is continuing to combat scammers and promoters encouraging businesses to file claims for the pandemic tax credit.

Tax 132
Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

Streamlining procurement processes: A case study with Airbase and Doximity.

Airbase

From controlling costs to ensuring compliance, the procurement function is crucial to an organization’s financial health. But despite procurement’s importance, many companies struggle to implement processes with the right balance between control and efficiency. This balance is especially challenging for companies who don’t have a dedicated procurement team, but still need strong control over and clear visibility into all spending.

NetSuite 130
article thumbnail

WHO calls for higher taxes on alcohol and sugary drinks

Accounting Today

The World Health Organization said raising excise taxes on alcohol and sweetened beverages is the most effective way to reduce consumption while generating revenue.

Tax 125
article thumbnail

Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

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.

article thumbnail

Economic trends to help your business plan for 2024

Xero

The past year has been a bumpy ride for many. Most owners have been focused on maintaining cash flow, as they deal with the combination of rising costs and a limited capacity to lift their prices as customers become increasingly scarce. As 2024 approaches, it’s a good time for small business owners to think about business planning for the next 12 months.

article thumbnail

Private sector added 103K jobs in November as wages grew

Accounting Today

Annual pay rose 5.6% year-over-year, payroll giant ADP reported, seeing signs of a hiring slowdown for next year.

payroll 118

More Trending

article thumbnail

How the “Wild West” of Tax Preparation Led to Massive ERC Issues

ThomsonReuters

The Employee Retention Credit (ERC) emerged as a lifeline for many companies during the COVID-19 pandemic, incentivizing them to retain their employees and navigate through the financial turmoil. However, while the ERC served as a valuable support mechanism, it has also raised concerns about abuse when it comes to accurate claims for the credit. James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, explained that the origin of the current issues with the ERC

article thumbnail

Murph and Liz Together for Our December 13th QB Talks

Insightful Accountant

Murph will be hosting Liz Scott for December's QB Talks focusing on QuickBooks at Year-end on Wednesday December 13, 2023 at 2:00 PM Eastern time.

article thumbnail

Home Office Accountable Plan

Summit CPA

Dave Danic, Director of Tax at Summit Virtual CFO by Anders, has an update about home office accountable plans.

Account 94
article thumbnail

Murph and Liz Together for Our December 13th QB Talks

Insightful Accountant

Murph will be hosting Liz Scott for December's QB Talks focusing on QuickBooks at Year-end on Wednesday December 13, 2023 at 2:00 PM Eastern time.

article thumbnail

The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

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.

article thumbnail

How to successfully adopt after-action reviews as a CPA

Accounting Today

Every service-based company — especially a CPA firm — needs to find a way to make after-action reviews a standard practice.

CPA 92
article thumbnail

Highlights from Sage Intacct Release Notes: 2023 Release

Withum

Sage Intacct’s Release 4 for 2023 took place on November 10th, making it the last release for this year. The R4 release includes various updates and features to improve your Sage Intacct user experience. To stay updated with these changes, you can conveniently access the Intacct release notes via your Intacct Home Page dashboard. The R4 Release comprises of many product enhancements and introduces various Early Adopter Programs.

article thumbnail

AICPA proposes framework for stablecoins

Accounting Today

The AICPA has proposed a framework for disclosures related to asset-backed cryptocurrencies, often called stablecoins, centered mainly on an issuer's assets versus outstanding tokens for them.

Maine 89
article thumbnail

Zoomers Have Figured Out Early That Being a Manager Sucks

Going Concern

It seems Gen Z wants nothing to do with the management hamster wheel. Good for them. Business Insider shares the story of a few young people who took one look at the management suite and said eff that. Including this young millennial who didn’t want her job to find out she was talking s**t to business rags about it: Wendy, 28, who isn’t sharing her surname to keep her workplace from identifying her, told Business Insider the apparent promotion was pitched to her as an opportunity.

article thumbnail

Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

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.

article thumbnail

Bonus Vendor Spotlight: TaxBit

Accounting Today

In this truly last Vendor Spotlight of 2023, we talk to Aaron Jacob, head of accounting solutions at TaxBit.

Account 84
article thumbnail

Exploring the drawbacks of Limited Company status for landlords

Menzies

Menzies LLP - A leading chartered accountancy firm. Landlords have been significantly impacted by the implementation of Section 24 of the Finance Act 2015 and this has prompted a search for effective ways to mitigate the increased tax burden that many landlords now face. As landlords navigate ongoing tax challenges, there has been an increase in tax-saving schemes, such as the “Less Tax for Landlords” hybrid partnership scheme and similar solutions suggested by advisors.

article thumbnail

Taxpayers in Swiss City can settle bills with Bitcoin, Tether

Accounting Today

The Swiss city of Lugano started to accept cryptocurrencies for paying taxes, fines and all other invoices from the municipality.

Tax 78
article thumbnail

How to Raise Prices on Legacy Clients

Ryan Lazanis

One of the most challenging moves in any business is raising prices for legacy clients. Find out why and how to navigate this tricky aspect.

article thumbnail

8 Pillars of Leadership Development

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.

article thumbnail

Swiss bank Pictet to pay $123M to end US tax case

Accounting Today

Federal prosecutors charged Pictet with conspiring to help taxpayers use 1,637 accounts to conceal assets and income from the IRS between 2008 and 2014.

Tax 78
article thumbnail

People In The News This Week

Insightful Accountant

Both Centri Business Consulting and Docyt have announced major leadership enhancements this week.

52
article thumbnail

M&A roundup: BDO, Sikich and other firms expand

Accounting Today

BDO USA adds Flintech Holdings and Dynamics Beyond; Sikich acquires Golden Trail Advisers; BMSS Advisors & CPAs merges in Haddox Reid Eubank Betts PLLC; REDW adds Grove, Mueller & Swank; Dean Dorton merges in VonLehman; Eide Bailly adds RBTK; Savant Wealth Management acquires Peay & Associates and SwaimBrown Wealth Management; LGA merges in Sullivan; Ryan acquires Morrison & Head; and Hannis T.

cpas 63
article thumbnail

On-Demand Webinar: Microsoft Ignite 2023: Big News and Key Takeaways

Withum

Are you in the know about all the groundbreaking new products and important updates to Microsoft Cloud technology announced at this year’s Microsoft Ignite conference? Join us for a post-Microsoft Ignite debrief webinar, where we unpack the latest developments, innovations and strategic insights unveiled during this year’s most anticipated technology event.

article thumbnail

Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

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.

article thumbnail

Standardizing Workflows for Improved Team Performance

IgniteSpot

Often, companies only look to new software to improve team performance and efficiency. While technology can help streamline operations, standardized workflows and processes are critical for organization-wide alignment. Before implementing new software, document and optimize your team’s workflows first.

article thumbnail

What is FRS 101?

Menzies

Menzies LLP - A leading chartered accountancy firm. FRS 101 is a framework that allows qualifying subsidiaries to benefit from a reduced disclosure requirement in their individual financial statements. This means that these entities can provide less information in their financial statements, while still complying with accounting standards. The reduced disclosure framework is available to subsidiaries that meet certain criteria, and it can help to simplify the financial reporting process for thes

article thumbnail

Hiring Employees and Contractors in the U.S. and Abroad: Tax Considerations & Software Solutions

Shay CPA

A good team is the backbone of any thriving company. And the rise of technology has made it easier than ever before to expand your hiring pool well outside the boundaries of your city or even your state. Before you seek out the best and the brightest, though, make sure you have a payment plan. That, of course, means paying the employee or contractor.

Tax 52
article thumbnail

House Ways and Means Backs Release of Hunter Biden Tax Probe Information

CPA Practice

By Laura Weiss, CQ-Roll Call (TNS) The House Ways and Means Committee huddled behind closed doors on Tuesday in a daylong session that ended with it publicly releasing additional documents as part of its probe into the investigation of Hunter Biden’s taxes. Two IRS agents who have provided testimony to the panel sat with lawmakers in a rare shuttered hearing because they were set to discuss private taxpayer information.

Tax 52
article thumbnail

How to Set Better OKRs and Drive Results

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.

article thumbnail

California’s Climate Disclosure Laws Are Coming: What it Means for Your Company and How it Can Be a Competitive Advantage

Cherry Bekaert

Our Cherry Bekaert leaders will discuss the new California laws that force carbon emissions disclosures upon national and international firms. Although reporting isn’t set to begin until 2025, companies should begin planning for this now. Join us as we discuss the details of the reporting requirements, key challenges, and what is yet to be defined. We’ll also compare these requirements to other public and private regulatory bodies, identifying efficiencies and opportunities for your organization

article thumbnail

Live CPE Conference Underway – Ensuring Success

CPA Practice

The 10th annual Ensuring Success CPE conference is now underway at www.ensuringsuccess.com/watch-2023. Accounting and tax pros can view this live, streaming CPE conference from their own office. Today’s 7 CPE sessions include tax ethics, firm management, small firm strategies for tax credits, 2023-24 tax season issues, digital assets, firm branding/marketing, and AI for accountants.

Tax 45
article thumbnail

Introduction to Alteryx Designer for Data Preparation & Analytics

Cherry Bekaert

Alteryx allows users to model disparate data sources to support firm-wide analytics and decision making. The Alteryx Designer provides users a powerful drag and drop canvas environment to easily connect to and shape data together while documenting each step in the process for further automation and reusability. Questions? Contact Us The post Introduction to Alteryx Designer for Data Preparation & Analytics appeared first on Cherry Bekaert.

52
article thumbnail

Research: Big 4 Dads Still Aren’t Embracing Paternity Leave

Going Concern

TLDR summary of this article from ChatGPT: Big 4 accounting firms introduced paternity leave in 2006, but a recent study finds that many fathers, especially in high-pressure environments like audit firms, hesitate to take advantage of it. The study, based on interviews with 13 men in French audit firms, reveals that fathers view leaves as incompatible with their professional commitments and perceive less support compared to mothers.

audit 116
article thumbnail

Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

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.