Thu.Jun 23, 2022

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Streamlining The Monthly Close With a Few Easy Steps

AccountingDepartment

The month-end is coming up and that means it is time to close. A monthly close can be a laborious process that is dreaded by some accounting and finance departments, but it doesn't have to be that hard!

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IRS adds options for electronically amending 1040s

Accounting Today

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KPMG’s New Metaverse Space is Like the First-Person Shooters You Played in 1999 But Worse

Going Concern

14 or 15 years ago I trolled Bill Sheridan of the Maryland Association of CPAs on Twitter about uncovering a weapons cache they’d stashed on CPA Island, a then-revolutionary virtual space in the game Second Life MACPA had set up for…accounting things. Back in 2008 CPA Island was the first (only? It never really caught on IIRC) of its kind and promised to be an exciting hub of pixels for accounting professionals.

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Firms step up recruiting amid talent shortage

Accounting Today

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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.

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EY Throws a Fit When Your Job Circumstances Change

Going Concern

I got an offer in a corporate role and turned in my two week notice at EY. Everything was fine: HR treated me well and wished me luck in the next chapter of my career. However, on my LAST DAY at EY, the new company rescinded their offer for reasons that I won’t get into here but were ridiculous (even the third-party recruiter agreed it was ridiculous).

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Clients benefit when auditors specialize in complex accounts and transactions

Accounting Today

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Tax Fraud Blotter: Frauds uprooted

Accounting Today

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QuickBooks Bank Feeds Enhancements

Intuitive Accountant

QuickBooks Online Bank Feeds now import available check images and make them available in Accountant View or Business View.

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HHS Announces New Version of Security Risk Assessment Tool to Help With HIPAA Security Rule Compliance

ThomsonReuters

Security Risk Assessment Tool; Security Risk Assessment Tool v3.3 User Guide (May 5, 2022). Webpage. User Guide. HHS’s Office of the National Coordinator for Health Information Technology, in collaboration with its Office for Civil Rights, has announced an updated version of the interactive Security Risk Assessment (SRA) Tool. The SRA Tool, first developed in 2014 (see our Checkpoint article ), is designed to help healthcare providers conduct a security risk assessment as required by the HIPAA

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Tech News: Accounting Seed deploys new release

Accounting Today

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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.

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Must a Health Plan’s TPA Honor a Provider’s Request to Use HIPAA Electronic Transaction Standards?

ThomsonReuters

QUESTION: We are a TPA that administers claims for self-insured group health plans. If a health care provider asks us, acting on a health plan client’s behalf, to reimburse the provider for health care services using HIPAA’s electronic transaction standards, are we obligated to honor the request? ANSWER: If a health care provider requests that a health plan conduct a transaction subject to HIPAA’s electronic transaction standards as a standard transaction, then the health plan must do so.

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ConvergenceCoaching opens up 2022 remote work survey

Accounting Today

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HHS Chart Summarizes Applicability of State and Other Surprise Billing IDR Processes

ThomsonReuters

Chart for Determining the Applicability for the Federal Independent Dispute Resolution (IDR) Process. Available at [link]. HHS has provided a variety of resources relating to the surprise medical billing protections of the No Surprises Act (enacted as part of the Consolidated Appropriations Act, 2021 (CAA)), including a chart summarizing when a state or other independent dispute resolution (IDR) process applies rather than the federal process.

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Five questions for accounting firms

Accounting Today

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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.

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U.S. Supreme Court: MSP Rules Do Not Preclude Limited Coverage for Outpatient Dialysis

ThomsonReuters

Marietta Mem’l Hosp. Emp. Health Benefit Plan v. DaVita Inc., 2022 WL 2203328 (U.S. 2022). Available at [link]. The U.S. Supreme Court has ruled that a group health plan does not violate the Medicare Secondary Payer (MSP) rules by limiting coverage for outpatient dialysis—a treatment used almost exclusively for patients with end-stage renal disease (ESRD).

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Balancing the Top and Bottom Lines in a High-Growth Company

GrowthForceBlog

7 min read. How do you measure growth in your business? Are you focusing on your top line or the bottom line growth?

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Boomer's Blueprint: Partner attributes determine culture

Accounting Today

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Network Security Experts Found a Way Into Moss Adams’ Cloud Network

Going Concern

We’ve learned this week that benevolent hackers found a vulnerability over at Moss Adams a few months ago and detailed their findings in a blog post on Tuesday. Via VPNOverview : VPNOverview’s security team in April discovered an improperly stored virtual machine (VM) image that belongs to Moss Adams, one of the largest public accounting firms in the U.S.

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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.

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Pathways to Growth: ESG is a golden opportunity

Accounting Today

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End of financial year NFP director responsibilities

Accounting for Good

The post End of financial year NFP director responsibilities first appeared on ACCOUNTING FOR GOOD.

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How to Set Business-Driving Goals with Your Clients

Intuitive Accountant

Starting and growing a business is an incredible undertaking. That's why CPAs can be important teammates in this endeavor. Reach Reporting's Justin Hatch shows you why.

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Paid diagnostic review: Every bookkeeper’s weapon for taking on a big QuickBooks Online cleanup

5 Minute Bookkeeping

Knocking out a big QuickBooks Online cleanup project requires the right preparation, tools, and strategy. Imagine if a boxer were to walk into the ring unprepared, without a strategy or the tools to take on their opponent – they would most likely lose the fight. Are you facing the challenge of a messy QuickBooks Online cleanup project, and want to triumph?

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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.

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Research & Development Tax Credit (RDTC) payment delays – an update

Inform Accounting

If you’ve made an R&D claim and are wondering where the payment is, HMRC has recently released this statement on the delay. Message from HMRC. We previously notified agents that we have paused some Research & Development Tax Credit (RDTC) payments while we investigate an increase in irregular claims. Our investigations are continuing, but we are now able to provide an update.

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The Top Reason You’re Having Trouble Hiring (And What To Do About It)

Ryan Lazanis

When it comes to finding high-quality talent, your job isn’t just to say the right things. In this podcast episode, we’ll discuss the reason why you’re having trouble hiring the right people and what to do about it. Listen below. 0:25 – The most difficult part about scaling a business is finding high-quality talent to join your team as you grow. 0:58 – I get messages from firm owners that they can’t find the people they need to add to their team. 1:37 – The reason

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Keeping Forensic Reports Simple

FraudFiles

Making complex transactions easy to understand is no small task, but it is part of the job of any good fraud investigator. You can find the most earth-shattering proof of fraud, but if you cannot articulate your findings in a report that others can understand, your investigation results are not worth much. Use graphs, charts, and tables to help illustrate your points.

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Contribution

RitaKeller

“Replace your pursuit of success with the pursuit of contribution.” – Peter F. Drucker. Management guru, Peter Drucker, stressed the importance of contribution. To be a great leader you need to ask yourself how you can contribute to the success of your firm and your people. What more can you do? What more can you contribute? From Drucker: “What is the most important contribution I can make to the performance of this organization?

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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.

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Biden’s gas tax holiday may not lower prices at the pump

Accounting Today

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What Exactly Is an Error of Omission? Getting to Know This Common Accounting Mistake

Patriot Software

Your business lives and dies by your ability to buy and sell products on a competitive margin. But, you may take for granted why bookkeeping is important to the health of your business. Several mistakes—like errors of omission—can get in the way of keeping accurate books Inaccurate financial records make measuring profitability and filing small […] READ MORE.

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Manchin opposing energy payments seen blunting value of tax credits

Accounting Today

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