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8 min read December 12th, 2024 Every new year brings new challenges and opportunities in business. It's up to business owners to ensure they are prepared for what lies ahead in the coming year. The best business leaders keep a continuous eye on the future. Key Takeaways Types of Financial Forecasts: Business leaders can generate forecasts for just about any aspect of their business.
Holiday shopping season offers probably the years best chance for your online business to score big, not only through sales on your own website but also through household-name marketplace facilitators like Amazon. Black Friday this year saw a record $10.8 billion in U.S. online sales up 10.2% over last year. Cyber Monday wasnt far behind, as consumers looked to spend $13.2 billion, up more than 6% over 2023.
It finally happened investors saw your vision, you raised a Series A, and now you have the green light to grow as quickly as possible. Now what? Or perhaps youre building an MVP and scrapping for revenue. Your idea has potential, but you have to diligently manage resources until you can raise seed funding. Regardless of where you are in your journey, cash flow management for your startup will be crucial.
Tracy Coenen talks about the prevalence of fraud allegations related to construction projects and the work a forensic accountant can do in construction claims. She goes through the basics of the financial analysis performed on the numbers and documents related to the construction project. The construction analysis includes a comparison of the following numbers: Total [.
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
Navigating the complexities of Regulation C as it applies to HMDA reporting can be daunting, but understanding key definitions and reporting requirements can ensure your financial institution remains in compliance. Brad Stumpe, CPA, CRCM , partner and compliance and loan review practice leader, hosted a webinar, HMDA Refresher Including What Reporters Must Know Prior to Section 1071 Implementation , to inform financial institutions of their obligations under HMDA reporting requirements.
The Internal Revenue Service is adding more features to the Tax Pro Account, Business Tax Account and Individual Online Account, and starting a new enforcement campaign.
Delaware Statutory Trusts (DSTs): A Strategic Option for 1031 Exchange Investors For many real estate investors, the desire to defer taxes on a property sale through a 1031 exchange has proven invaluable. But when it comes to selecting a replacement property, the complexities of property management and compliance can be a deterrent. That’s where a Delaware Statutory Trust (DST) comes into play as a promising, hands-off investment option.
Delaware Statutory Trusts (DSTs): A Strategic Option for 1031 Exchange Investors For many real estate investors, the desire to defer taxes on a property sale through a 1031 exchange has proven invaluable. But when it comes to selecting a replacement property, the complexities of property management and compliance can be a deterrent. That’s where a Delaware Statutory Trust (DST) comes into play as a promising, hands-off investment option.
63%* of people admit they find filing tax returns stressful Over a fifth (22%) admit losing sleep as the deadline looms The crunch is also affecting family time, with over a quarter (27%) of people saying they spent less time with friends and family due to the demands of filing their tax returns Incredibly, more than 25,000 people filed tax returns on Christmas Eve, Christmas Day and Boxing Day last year Executive Coach, Jessica Rogers offers top tips for staying financially and mentally healthy
From those with no corporate tax at all, to those that tax everything they can a guide to most and least competitive states when it comes to taxing businesses.
The PCAOB released a Spotlight the other day [ PDF ] and it seems large firms are just now recognizing that increased offshoring might have a negative effect on the foundational skills early-career auditors. By “negative effect” we mean a loud sucking sound as these tasks get pumped to distant corners of the world where offshore staff work for pennies on the dollar.
Its been months in the works, and today we are excited to share our new site with you! Please click around, enjoy the new features, explore the site, and by all means please share your feedback with us in the Comment section below!
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
Before you can begin looking into your businesss profit, you need to understand and know how to calculate cost of goods sold (COGS). So, where do you begin? Start here by learning all about COGS, including how to get cost of goods sold using the cost of goods sold equation.
According to SCORE, 82% of small businesses fail due to issues managing cash flow. If money has not been set aside for taxes, an unexpected rise in expenses can cause their business to fail. As a result, personal savings can be wiped out, and those with small business loans can go into debt.
Zoho announced the US release of its end-to-end payroll solution, Zoho Payroll, on top of enhancements to its existing suite of finance products, which include Zoho Books, Zoho Inventory, and Zoho Practice.
In today's rapidly evolving business landscape, the ability to turn raw data into actionable insights is paramount for sustainable growth and success. For many organizations, especially those without the resources to maintain a full-scale finance department, CFO support services offer a critical link between data and decision-making. These services transform complex financial information into strategic plans that drive business excellence.
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.
While 70% of hiring managers believe employees should feel comfortable discussing personal issues with their manager if they impact their work, nearly 39% find it challenging to help employees navigate these issues (e.g., health, relationships, finances) to improve productivity.
It takes a lot of hard work, time and skill to keep a small business running smoothly, day to day. There are so many tedious tasks that take time away from the important work that needs to be done. Even if you have all the brains and brawn to wear all those different hats, trying to take care of everything yourself could soon become very overwhelming.
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.
Two of their top eight stressors include finances. Cost of living is the second-most common stressor (35%), followed by paying for college/student loan debt (29%).
Menzies LLP - A leading chartered accountancy firm. Join Giuseppe Parla , Bethan Evans , and Alexandra Davies for an insightful discussion on the fundamentals of administrations, the concept of pre-packed administrations, and how the profession has worked to enhance perceptions of these arrangements. If you’re a creditor, discover the key factors to watch for when a company enters administration.
The report concluded that Generative AI has the potential to reduce the burden of human interaction for many types of tasks, freeing up a workforce for higher productivity and space for more ambitious strategies.
Whether you are an individual or a business in Canada, taxes are an inescapable part of your existence. All sources of income need to be calculated, tax returns needs to be filed and taxes owing must be paid. This is somewhat easier if you are an employee as your employer tends to take care of the majority of remittances. Self-employed individuals, sole proprietorships , partnerships and corporations on the other hand, must account for their income and expenses , determine taxes payable and remi
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.
Even though 3rd-party nominations of ProAdvisors for the 2025 Awards have closed, ProAdvisors can still Apply (or complete their applications) until February 11, 2025.
Are you struggling to keep your chemical manufacturing operations efficient while driving sales? In this fast-paced industry, staying competitive is essential. The current sales process is complex and challenging to systematize. Lets explore how to rethink your sales process and offer simple CRM strategies that can enhance sales, minimize inefficiencies and optimize regulatory compliance.
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.
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.
The Committee of Sponsoring Organizations of the Treadway Commission published a framework for imposing internal controls over robotic process automation.
This month, a new record-high share of consumers indicated that they expect mortgage rates to decline over the next 12 months, while fewer respondents said they expect home prices to rise.
Payment solutions provider Bill released a tool that lets users manage their AP needs and 1099-NEC and 1099-MISC forms together from a single platform.
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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