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Accounting is evolving along with the rest of the world, and it's definitely one of those industries that will keep expanding. However, there are certain trends you should pay attention to if you want to succeed more quickly.
By prioritizing backups, startups can protect their data, ensure compliance, maintain business continuity, and build trust with stakeholders. The post Data Backup Essentials: Safeguarding Your Startup’s Success appeared first on Burkland.
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
Hourly earnings growth for workers at small businesses dropped to 2.89% in August, Paychex reported Tuesday, the first time growth has been under 3% since January 2021.
A Top Technology Initiative Article For those in public practice dealing with tax extension season, ask yourself: Did our tax software work correctly and quickly? If not, perhaps you have a software issue, a configuration problem, or something else to resolve. While there used to be over 100 tax software products, there are only around a dozen options today.
Although only five named tropical storms and hurricanes have developed in the Atlantic Ocean this year, the National Hurricane Center is still expecting a significant risk of dangerous storms in the coming months. As the peak of hurricane season is on tap, and an elevated wildfire risk now exists across much of the West, the Internal Revenue Service is reminding businesses and individual taxpayers to develop an emergency preparedness plan or, if they already have one, to update it for 2024.
It has been said that human capital is an organization's most valuable asset in today's climate. However, managing your financial assets is the ultimate responsibility of the company leadership. Without sound financial planning and asset management, a business can't thrive. And, ultimately, your human assets will suffer. Forecasting is an essential part of the equation.
By Christian M. Wade Gloucester Daily Times, Mass. (TNS) BOSTON — Main Street employers are getting hammered by taxes, health care expenses, lingering high inflation and other costs, according to a new report by a national business group, which calls on Beacon Hill policymakers to focus their attention on helping small businesses stay afloat. The report by the National Federation of Independent Business found that despite the 2018 Tax Cuts and Jobs Act, which reduced the corporate tax rate from
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
By Chantal Allam The News & Observer (Raleigh, NC) (TNS) High-earning millennials—those with annual incomes above $200,000—are exiting states like New York and California in droves, according to new analysis by SmartAsset. And a large percentage of them are ending up in the Old North State. North Carolina ranked No. 3 for the nation’s highest net migration of well-heeled millennials, ages 26 to 45, posting a net gain of 1,970, the study found.
A recent survey has found that while small businesses still primarily use accounting software to record and manage transactions, usage dropped from 85% to 68% from April 2023 to July 2024.
Top 15 accounting firm Marcum has promoted 15 individuals to partner in eight states, effective Sept. 1. “These individuals represent Marcum’s dedication to excellence. They bring a wealth of experience, skill, and an entrepreneurial spirit. In a rapidly evolving world, they have shown adaptability and dedication to understanding and exceeding our clients’ expectations,” Chairman and CEO Jeffrey Weiner said in a statement.
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.
Value Added Tax (VAT) is an increasingly complex area of tax. Many of the VAT rules have been determined by court cases and, as a result, important questions such as “is a Jaffa Cake a biscuit or cake?” have been addressed by HMRC. Jaffa Cakes The importance of whether a Jaffa Cake is a biscuit or cake was taken to the courts back in 1991. The debate was significant for McVitie’s as cakes are zero-rated for VAT purposes while chocolate covered biscuits are standard rated (20%) for VAT purposes.
The 2024 Generative AI in Professional Services research conducted by the Thomson Reuters Institute provides a comprehensive overview of the burgeoning role of GenAI across various professional sectors, including legal, tax, accounting, risk, and government. This study captures the complex spectrum of emotions surrounding GenAI, from hope and excitement to hesitancy and concern.
Microsoft researchers believe they have found a way to overcome the traditional challenges generative AI large language models have had with using spreadsheets.
In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.
Questions? Contact Us Private Equity Dealmaking Shows Improvement but Falls Short of Expectations Key Observations Banks have returned to the M&A lending market and are recapturing market share from nonbank lenders who moved in during their absence. While the U.S. Federal Reserve (Fed) has not instituted any rate reductions, the competition in leveraged finance sector is resulting in more favorable terms—both in terms of rates and covenants—than what was in place 12 months ago.
Twenty-five percent of accounting professionals want to increase their roles in implementing diversity, equity and inclusion initiatives, per the Center for Accounting Transformation.
“Market slowdown” On Saturday, Financial Times reported that due to a “market slowdown,” EY UK has gotten rid of a small number of partners and given out annual salary increases of 2.2% to its 4,400-person tax advisory business. It was six percent in 2023 and 10 percent in 2022. FT said bonuses would be smaller as well (£500 for junior staff — that’s $655 USD — to £4,000 for directors) and explained the math thusly: Bonuses for EY employees are calculate
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.
Under the Goods and Service Tax (GST) , the Refund is a key component in the case of export of goods or services. The following two mechanisms of claiming a refund in case of export are: Claiming refund of Input Tax Credit about goods exported without payment of IGST; Claiming refund of IGST paid on export of goods CBIC has received various representations from the industry seeking clarification on how to claim a refund where goods were exported on payment of IGST and additional IGST is paid pos
This is a prologue to Murph's next part of his in-depth series on Acumatica. a summary of Acumatica ERP's Wholesale and Distribution businesses that simply can't get the job done with smaller accounting solutions.
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.
Small and medium-sized businesses (SMBs) are facing new cash flow challenges. Caught between advancing technologies and tighter lending standards, many of your SMB clients could be struggling to find the comprehensive financial advice they need for success. This is where you come in. In “Be the Financial Hero for SMB Clients (Without Being Their Bank),” you’ll learn top strategies to become a more trusted advisor – just by helping your clients overcome their financial constraints and objections.
Calling all local government finance departments! Let’s talk about your financial statements, which can be your Annual Comprehensive Financial Report (ACFR), Popular Annual Financial Report (PAFR), budget book, or even a small monthly report. Does your team still use manual processes to create these financial statement reports with Word and Excel? Maybe you’d like to.
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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