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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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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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 However, on my LAST DAY at EY, the new company rescinded their offer for reasons that I won’t get into here but were ridiculous (even the third-party recruiter agreed it was ridiculous).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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More Trending

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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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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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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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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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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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ConvergenceCoaching opens up 2022 remote work survey

Accounting Today

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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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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Five questions for accounting firms

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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Boomer's Blueprint: Partner attributes determine culture

Accounting Today

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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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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Pathways to Growth: ESG is a golden opportunity

Accounting Today

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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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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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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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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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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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