Wed.Aug 02, 2023

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Spend under management: The procurement KPI you should be tracking at any stage.

Airbase

For many mid-market companies, it’s a little early to staff a procurement department. At Airbase, I’m the controller of a 300-person tech company without a dedicated procurement professional, so the responsibility to ensure that the procurement function is being fulfilled (policy compliance and vendor management) falls to me. Even in the absence of full procurement teams and legacy solutions, there are still steps that can help us controllers adhere to procurement best practices.

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Streamlining Business Operations: A Deep Dive into Operational Planning

Acterys

In today’s ever-evolving business landscape, success hinges not only on visionary leadership but also on robust execution. To bridge the gap between lofty ambitions and tangible achievements lies the art of operational planning. This integral process serves as the foundation upon which businesses can thrive and surpass their goals, navigating complexities with precision and purpose.

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Due Diligence Checklist for Startups

BurklandAssociates

Build a file organization structure and be disciplined about saving your files to streamline future due diligence and seize the opportunity. The post Due Diligence Checklist for Startups appeared first on Burkland.

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Here’s How Much Audit Fees Have Increased in the Last Twenty Years Making Us Wonder Why Salaries Didn’t Do the Same

Going Concern

Audit Analytics has released “ A Twenty-Year Review of Audit Fees ,” an in-depth look at audit fee trends from 2002 to 2022 and there are some fun charts inside. Mainly we care about this one: In FY2003, average audit fees were $681,000; in FY2022, this number was $2,243,000. A few more factoids: The average audit fees paid by SEC registrants reached an all-time high in FY2022 at $2,242,980—representing an 11% increase from FY2021 Average total fees paid grew nearly 10% in FY2022 to

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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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Less than 1% of firms can find enough staff

Accounting Today

CPA firms are resorting to strategies like hiring workers abroad, raising starting salaries, offering fully remote jobs, and hiring staff who haven't graduated college.

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Can ChatGPT Comply with Accounting Rules?

Insightful Accountant

New Oracle NetSuite white paper not only provides a guide for CFOs about the topics of AI and Machine Learning, but also evaluates ChatGPT. Read our summary of how ChatGPT explained ASC 842 compliance.

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What to Know About Form CP-575 [IRS EIN Notice]

Patriot Software

Most businesses need—or will at some point need—an Employer Identification Number (EIN). You include your EIN on documents like Form W-2 and business tax returns. To get an EIN, you must apply with the IRS. In response, the IRS will send you an EIN confirmation notice called Form CP-575.

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Vendor Spotlight: Visual Lease

Accounting Today

In this week's vendor spotlight, we talk lease administration and management with Robert Michlewicz, CEO of Visual Lease.

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IRS Plans to Go Paperless by 2025 Tax Season

CPA Practice

Treasury Secretary Janet Yellen announced on Wednesday that the IRS has set a goal to go paperless by 2025. The new initiative “marks a significant step in our efforts to digitalize IRS operations,” Yellen said. “Today, we are announcing that, by the next filing season, taxpayers will be able to digitally submit all correspondence, non-tax forms, and notice responses to the IRS.

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Canopy Expands its AI-driven Capabilities

Insightful Accountant

With its new Canopy Insights, the account management software provider advances its practice management analytics with AI-Driven custom query and reporting capabilities.

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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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Top 10 tips for successful accounting firm recruitment

ThomsonReuters

It takes a combination of insight and determination to recruit the right talent for your accounting firm. Recently, respondents to the 2023 State of the Tax Professionals Report shared their top ten tips for a successful accounting firm recruitment strategy. If you also want to ensure that your firm is staffed with the most capable and experienced professionals, here are some priorities to keep in mind. 1.

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CAQ pushes back against PCAOB NOCLAR proposal

Accounting Today

The Center for Audit Quality is spearheading an effort to convince the Public Company Accounting Oversight Board to water down a proposed update in the standards for auditors to be on the lookout for fraud and other signs of noncompliance with laws and regulations.

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What are countries doing to implement OECD’s BEPS Pillar 2.0?

ThomsonReuters

As the Organization for Economic Co-Operation and Development’s (OECD) ground-breaking Base Erosion Profit Shifting (BEPS) framework for taxing the digital economy is being implemented, countries around the globe are beginning to roll out the second of the OECD’s two BEPS pillars—Pillar 2.0. Pillar 2.0 aims to end the ‘race to the bottom’ on tax rates by ensuring that multinational enterprises (MNEs) pay a minimum effective corporate tax rate of 15%.

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Streamlining Financial Processes: How Client Accounting Services Drive Efficiency

AccountingDepartment

Efficient financial processes are essential for the success and growth of any business. However, managing tasks like invoicing, payroll management, and financial reporting can be time-consuming and complex, diverting valuable resources from core operations.

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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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Simple money management moves for your side hustle!

Reckon

Guest post blog by Catherine Schwartz Today, having more than one income stream is completely feasible. With current economic uncertainties and inflation, it makes sense that individuals worldwide are increasingly seeking new ways to supplement their everyday earnings. But it’s not only extra cash that’s alluring, as more people embrace digital tools to monetise their creative hobbies, it’s clear that pursuits of passion are also very much driving the side hustle trend.

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Financial vs. Management Reports: What AEC Firms Need to Know

GrowthForceBlog

6 min read Reporting is the primary method of recording and communicating business performance with both internal and external stakeholders. It is the process of using a standardized bookkeeping and accounting system to collect financial data, organize it, and then record it within a set of standard reports.

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2024 Accounting Startup Accelerator Seeks Applicants with Artificial Intelligence Focus

CPA Practice

The American Institute of CPAs (AICPA) and CPA.com are seeking applicants for the 2024 Startup Accelerator program, which promotes the growth of early-stage companies to help advance the accounting and finance ecosystem. Recognizing the profound impact that artificial intelligence (AI) is poised to have on the accounting and finance profession, this year’s program is exclusively targeting companies that are leveraging the technology within their solutions.

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How To Optimize Processes Within Your Technology Company

Cherry Bekaert

You may have heard it said, it’s the “Year of Efficiency,” as technology companies seek solutions that save on costs, drive faster innovation and better manage processes. While accounting may not be every entrepreneur’s favorite topic, it is ours! Listen to Chase Wright , leader of our Accounting Advisory practice, and Graham Michitsch , Accounting Advisory Senior Manager, as they discuss how the accounting and finance back office is an essential function of a company, and why awareness of the

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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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A Note from CPA Practice Advisor

CPA Practice

Dear CPA Practice Advisor reader, We appreciate that you enjoy reading our free content, and we are committed to keeping it free. In order to do so, and to be able to expand content and add customization features, we will start requiring registration. Rest assured, the process and the content will still be free and unlimited. As you access content on cpapracticeadvisor.com , you may notice that you are being asked to either log in or sign up for an account.

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The AICPA Has Cooked Up Yet Another Plan to Do F*ck All to Solve the Accountant Shortage

Going Concern

I know you’re as sick of hearing about the accountant shortage as I am writing about it, alas here we are. One group that isn’t sick of discussing it is the AICPA. While all their schemes up until now have done approximately f**k all to fix the issue, there’s now a Pipeline Advisory Group that will surely get to the bottom of this at long last.

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Yellen touts next phase of IRS upgrade with 'paperless' push

Accounting Today

The Treasury Department is trying to modernize the badly outdated agency in a bid to improve customer service and ramp up enforcement.

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IRS Hosts Webinar Addressing Employee Retention Credit Fraud and Response

Withum

On July 25, 2023, the Office of Fraud Enforcement and National Fraud Counsel of the IRS hosted a webinar on the Employee Retention Credit (ERC) and discussed the current landscape of enforcement for tax professionals. This followed the release on July 24, 2023, of another warning by the IRS to taxpayers not to fall prey to unscrupulous tax credit providers who “wildly misrepresent and exaggerate who can qualify for the ERC.

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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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2023 NCGFOA Summer Conference Recap

Cherry Bekaert

Contributor: Jennifer Moran , Manager, Assurance Services This year’s North Carolina Government Finance Officers Association (NCGFOA) provided our Government & Public Sector professionals with ample networking and relationship building opportunities, timely updates on GASB and the North Carolina legislative session, and informative sessions about the current state of the economy and winning the talent war.

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8 Benefits of Online Bookkeeping

xendoo

You’ve put your heart and soul into your business. So why does it feel like you’re spinning your wheels, trying to keep up with your core business and your administrative overhead at the same time? When you first started your company, it might have made sense to try to handle your own bookkeeping and accounting needs. After all, it kept costs down.

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Save On Back To School Supplies During Missouri’s Tax Free Holiday August 4-6

Anders CPA

The Missouri Back to School Sales Tax Holiday is a great time to stock up on supplies needed for the upcoming school year. In Missouri, the tax-free holiday starts at 12:01 a.m. on Friday, August 4th and lasts through Sunday, August 6th. During this period, qualified purchases are exempt from sales tax. Be aware not all cities and counties in Missouri observe this holiday.

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LLC vs. S corp: Which is right for your business and taxes? 

xendoo

One of the most important decisions for business owners is which type of business entity to form. Your business structure impacts your tax savings, accounting practices, and how you pay yourself. Examples of business structures include: Sole proprietorship Partnership Limited liability company (LLC) S corporation (S corp) C corporation (C corp) Businesses often weigh the pros and cons of forming an LLC vs.

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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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AvidXchange Announces Key Executive Additions

Insightful Accountant

The accounts payable automation software and payment solutions provider names John Feldman Chief Operating Officer and appoints Doug Anderson as Chief Product Officer.

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Accounting Firm Names: 1000+ Ideas for Modern Firms

Ryan Lazanis

In this article, you’re going to get a ton of inspiration plus a whole bunch of tips for picking amazing accounting firm names. Let’s get right into it. Table of Contents How to Choose a CPA Firm Name? Characteristics of a Good Business Name Accounting Firm Names To Avoid 1,013 Accounting Firm Name Ideas Professional Names Fun Names Catchy Names Forward-thinking Names Cool Names Trendy Names Niche Names Animal-Inspired Names Symbolic Names Innovative Names Elegant Names Nature-Inspir

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Charles McKissick on Mastering Outsourced Accounting

Insightful Accountant

Insightful Accountant's Gary DeHart sits down with Unison Globus' Charles McKissick to discuss the benefits, tips and must-haves for outsourced accounting. Catch the latest edition of Accounting Insiders.

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How to Unlock Freedom & Flexibility in Your Firm

Ryan Lazanis

Many of us desire a business that not only offers financial independence but also grants us the means to live life on our terms. In this podcast episode, I shared tips and strategies to help you break barriers that unlock more freedom and flexibility for your firm. Listen Below. 0:25 – The majority of us built our firms with the primary purpose of aiding our clients and customers but above all, we also want a business that can support our dream lifestyle. 0:59 – Among the various asp

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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.