Wed.Dec 06, 2023

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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.

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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.

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Investing in Crypto: A Conversation With Matthew Walsh of Castle Island Ventures

Withum

In this episode of Cryptonomix, Mark Eckerle and Matthew Walsh, Founding Partner at Castle Island Ventures, cover the developments in the crypto space over the past year, Castle Island's investment preferences, valuable insights for other venture capital firms, best practices for companies seeking financing, and a preview of the upcoming year.

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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.

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5 Steps to Shield Your Business: The Ultimate Guide to Avoiding Payment Fraud

As scams grow more sophisticated, it's crucial to stay proactive in defending against these threats. This guide equips CFOs, accountants, and business leaders with five essential steps—from fundamental safeguards to advanced security measures to strengthen your financial defenses. From enhancing data security to implementing fraud detection tools and safeguarding financial transactions, this guide provides expert advice that could save your company millions.

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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.

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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.

More Trending

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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

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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.

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Thanks for coming along to the New Zealand Roadshow 2023

Xero

As we wrap up the 2023 Xero New Zealand’s Roadshow , we want to reflect on the success of what was our largest Roadshow in the Asia-Pacific region. Starting in Dunedin this October, we travelled across Aotearoa New Zealand, making stops in Christchurch, Wellington, and Hamilton, before finishing in Auckland; amounting to 10 hours and 30 minutes travelled by each Roadshow member.

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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.

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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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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.

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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.

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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.

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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.

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3 Must-Have Reports to Help Financial and Accounting Firms Become More Profitable

Bizinta highlights three crucial reports for financial and accounting consultancies to enhance profitability: Utilization Reporting maximizes billable hours Profitability by Consultant identifies top performers Contribution by Client prioritizes high-value clients These reports provide accurate insights, replacing guesswork with data-driven decisions.

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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.

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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.

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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.

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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.

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How To Streamline Finance Operations Through Automation

Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

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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.

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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.

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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.

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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

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How to Elevate Your CPA Services and Grow Your Business

As a CPA, your expertise is invaluable to your clients. By partnering with Fincent, you can enhance your service offerings and streamline financial management for your clients. Our platform provides real-time financial reports, cash flow tracking, automated posting of banking transactions to reduce errors, and powerful search capabilities. With Fincent, you can focus on high-value services while we handle the day-to-day bookkeeping tasks.

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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.

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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

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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.

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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.

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Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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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.

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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.

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People In The News This Week

Insightful Accountant

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

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Five Charitable Giving Strategies

CPA Practice

By Marguerita M. Cheng, CFP, RICP, Kiplinger Consumer News Service (TNS) Millions of people give to charity to support various causes that have had a positive effect on their lives, their loved ones and their communities. According to the National Philanthropic Trust, Americans donated $499.33 billion in 2022. Individuals formed the largest source of charitable giving, which amounted to $319.04 billion, representing 64% of the overall donations.

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Simplify Your Business Finances with Dedicated Bookkeeping Services

Managing bookkeeping and tax can be challenging for businesses of all sizes. Fincent’s services offer a comprehensive solution to streamline your financial operations. With personalized, dedicated bookkeepers and controllers, our platform ensures accurate monthly books and financial statements delivered by the 10th business day of each month. Open monthly communication and an easy-to-use online chat with your bookkeeper provide consistent support and seamless management.