Wed.Nov 08, 2023

article thumbnail

Cybersecurity for CPAs: Don't empower imposters

Accounting Today

By clicking on malicious links and then entering your login information, you risk letting cybercriminals pretend to be you and send out $250,000 worth of fake invoices.

cpas 135
article thumbnail

2023 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

RogerRossmeisl

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have businesses in federally declared disaster areas.

Tax 264
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

The Benefits of Combining FP&A and Power BI

Acterys

Financial planning and analysis (FP&A) teams are critical for a business’ strategic foresight and its ability to navigate evolving market conditions. These teams are essential in parsing business performance data and crafting informed strategies. However, outdated systems and manual workflows can hinder their effectiveness, leading to issues with data access, accuracy and responsiveness.

article thumbnail

What Types of Expenses Can’t be Written Off by Your Business?

RogerRossmeisl

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses are detailed in the tax code, but the general rule is contained in the first sentence of §162, which states you can write off “all the ordinary and necessary expenses paid or incurred during the taxable year in c

CPA 246
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

Grant Thornton lays off 200 more employees

Accounting Today

The move comes after the firm cut 300 jobs earlier this year, despite reaching record levels of revenue.

136
136
article thumbnail

What are the Tax Implications of Winning Money or Valuable Prizes?

RogerRossmeisl

If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! After you celebrate, be aware that there are tax consequences attached to your good fortune. Winning at gambling For tax purposes, it doesn’t matter if you win at the casino, a bingo hall or elsewhere. You must report 100% of your winnings as taxable income. They’re reported on an “Other income” line of your 1040 tax return.

Gambling 242

More Trending

article thumbnail

Don’t Let Your Industry Be Your Fraud Risk

RogerRossmeisl

Occupational fraud risk isn’t necessarily shared evenly by all business sectors. Certain industries — for example, construction, real estate, manufacturing and transportation — are usually more vulnerable to employee theft, according to the Association of Certified Fraud Examiners (ACFE). Other industries may not have greater fraud exposure but face specific threats.

article thumbnail

Annual Financial Planning for Startups: Part-Three, Executing on Your Plan

BurklandAssociates

The final installment of a three-part series focused on helping growing startups budget and plan for success in the new year. The post Annual Financial Planning for Startups: Part-Three, Executing on Your Plan appeared first on Burkland.

130
130
article thumbnail

What is vendor management and why is it important?

Airbase

Vendor management is an integral part of financial management, enabling companies to control costs, mitigate risks, streamline operations, and maintain a healthy supply chain. Finance teams play a crucial role in vendor management, providing expertise in contract negotiation, payment processing, performance evaluation, and relationship building. By effectively managing vendors, finance teams can significantly contribute to the overall financial success of their organizations.

article thumbnail

IFAC taps its next CEO

Accounting Today

The IFRS Foundation's Lee White will succeed Kevin Dancey at the International Federation of Accountants in March.

Account 128
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

Our Profession Really Has Abused Those at the Entry Level, Says Managing Partner to the Local News

Going Concern

KTVN in Reno has covered the CPA shortage and in order to do so because local news reporters rarely even think about accountants much less report on them, the news spoke to the incredibly candid Mark Bailey, managing partner and founder of Excelsis Accounting Group. In a sea of talent shortage articles quoting boomers who think 70-hour weeks build character, it’s refreshing to see someone speak so openly about the profession’s biggest issue. 2News : “I think that our profession

article thumbnail

IPSASB unveils accounting standard for retirement benefit plans

Accounting Today

The International Public Sector Accounting Standards Board has issued an accounting standard for governments around the world to use for reporting on retirement plans.

article thumbnail

AI Website Chatbots: A Double-Edged Sword for Firms

CPA Practice

The rise of artificial intelligence has touched virtually every facet of business operations, and accounting firms are no exception. These intelligent systems promise increased efficiency and a transformative approach to client services. However, this cutting-edge technology also brings unique challenges, acting as a double-edged sword for those who wield it.

article thumbnail

Xero’s H1 FY24 financial results: Evolving Xero to deliver on our global aspirations

Xero

Today we announced Xero’s half year financial and operating results to 30 September 2023 (H1 FY24). The results highlight our continued strong revenue growth, which contributed to Xero’s emerging profitability. The strong operating results saw operating revenue up 21% (20% in constant currency (CC)) to $799.5 million. This, along with disciplined cost management and restructuring outcomes, supported a 90% increase in EBITDA compared to H1 FY23, to $206.1 million.

105
105
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

Shawn Slavin Leaves a Legacy at ITA

CPA Practice

By Gail Perry. This past week, the Information Technology Alliance (ITA) welcomed its new president, Geni Whitehouse , who will hold the reins of this prestigious member-only organization as it heads into the new frontier of AI and improved technology. But before we look forward, let’s take a moment to recap the story of ITA’s most recent president, Shawn Slavin, who stepped down from his leadership role this year.

Indiana 111
article thumbnail

It's 'Suite Success' for Brazilian Manufacturer MogiGlass

Insightful Accountant

This week in our 'International coverage,' Insightful Accountant is featuring MogiGlass of São Paulo, Brazil, which is using NetSuite to make its processes more efficient and provide a platform for continued growth.

article thumbnail

Keith Hamasaki, Steve Chhuor, & Aric Wong Named Top 100 Accountants by Los Angeles Business Journal

KROST

LOS ANGELES, CA — Keith Hamasaki, CPA, Steve Chhuor, CPA, and Aric Wong, CPA, MBT, have been recognized as Top 100 Accountants by the Los Angeles Business Journal. In partnership with CalCPA, the LABJ will be hosting the second annual Top 100 Accountants event on November 8th, 2023, at the Intercontinental Los Angeles Downtown from Read the full article.

CPA 105
article thumbnail

Unlocking the Power of Client-Centric CFO Services for Mid-Market Companies

GrowthForceBlog

6 min read With the rise in inflation and subsequent rise in interest rates, operating costs and the cost of capital have increased across the board in every industry. The decreased purchasing power of the dollar and increased cost of borrowing have put a squeeze on many mid-market companies in the United States, shrinking profit margins and diminishing the bottom line.

104
104
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

Expert Tips For Attending QuickBooks Connect 2023

Nancy McClelland, LLC

One of my favorite books when I was a kid was “ Hail, Hail, Camp Timberwood ,” about a girl who goes to summer camp for her first time. She’s standing around, feeling (and probably looking) uncomfortable as all the return campers are running around, hugging each other, excited to be reunited. All of a sudden, someone runs up to her and gives her a big hug and says how happy she is to see her again.

article thumbnail

Vendor Spotlight: Puzzle

Accounting Today

In this Vendor Spotlight we catch up with Sasha Orloff, co-founder and CEO of AI-based accounting solution Puzzle, which launched this past July.

Account 81
article thumbnail

How Big Data Is Impacting Accounting Firms in 2023

Ace Cloud Hosting

In the world of numbers, a silent revolution is underway. Imagine your accounting processes not just keeping numbers but predicting the future. That’s the magic of Big Data in accounting!

article thumbnail

Set your firm apart with advisory services

Accounting Today

How to offer advisory services the right way

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

The Impact of Client Accounting Services and Empowering Businesses

KROST

As the season starts to turn and we begin to plan for the upcoming holidays, now is the best time to prepare for the end of the year and the start of 2024. Individuals and businesses that are growing or in the start-up phase should review and evaluate the specific needs and goals for the Read the full article. The post The Impact of Client Accounting Services and Empowering Businesses appeared first on KROST.

Account 80
article thumbnail

Trader loses last fight to kick out $1.8B U.K. tax fraud case

Accounting Today

The U.K. Supreme Court rejected lawyers' claims that London isn't the proper place for the Danish tax agency to bring its claim.

Tax 80
article thumbnail

Partnership Income Tax Returns & More Skagit County IRS Targets

SkagitCountyTaxServices

Though the days are getting shorter and the weather is taking a turn, there are some great revenue reasons to get excited about the next two months. As we round the bend into Black Friday territory (which for many began at the end of October), it’s time to get nimble with your business plans. We all know the power of the holiday season for boosting sales — revenue-increasing opportunities abound.

article thumbnail

What items are exempt from VAT?

Accounting Insight

It’s essential to stay on top of your company’s VAT requirements. This requires sound knowledge of the rules and what authorities expect of businesses. This includes dealing with supplies of goods and services outside standard VAT obligations. Not every product or service incurs VAT. This is VAT exemption. VAT exempt supplies of goods and services – what are they?

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

Layoff Watch ’23: PwC Australia Is Cutting 4 Percent of the Workforce

Going Concern

We received a tip this morning: Australia getting cucked [link] The link leads us to Financial Review where we find : The nation’s once dominant consulting firm, PwC Australia, will cut 344 roles, or more than 4 per cent of its 8000-strong workforce, as fallout from its tax leaks scandal and the economic slowdown reduce demand for its services. Affected staff were told on Wednesday they were being made redundant.

article thumbnail

With Bankman-Fried Convicted, Investors Now Looking into Tom Brady and Other FTX Promoters

CPA Practice

By Malathi Nayak, Bloomberg News (via TNS). Sam Bankman-Fried’s criminal fraud conviction came just as the FTX implosion was approaching its first anniversary. But for others who helped promote the cryptocurrency exchange, the legal fallout will continue for years. Attention now turns to a sweeping class-action suit in Miami federal court by investors who claim they lost billions in the collapse of FTX and seek to pin blame not just on Bankman-Fried and his inner circle, but also on celebrities

Legal 59
article thumbnail

Let’s talk about the ‘S’ in ESG.

Menzies

Menzies LLP - A leading chartered accountancy firm. When people talk about ESG or Sustainability, often it is the Environmental aspect that gets the focus. However, the Social piece is arguably the largest and most evolving part of the equation. The S in ESG stands for social, and it is important because it encompasses a wide range of factors that affect a company’s relationship with its employees, customers, suppliers, and the communities in which it operates.

article thumbnail

How the ‘E’ in Esports Increases Criminal Threats

Withum

As we’ve covered previously , there are threats to Collegiate venues and game developers that are unique to the Esport industry. However, the largest growing segment of victims is the athletes and streamers themselves. Aside from the issues common to competitive sport – such as doping – athletes and streamers are at additional risk of online criminal exploits; brute force password attacks, phishing, and ransomware, to name a few.

Sports 59
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.