Wed.Sep 18, 2024

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Accounting by the numbers: September

Accounting Today

Accountants weigh in on which groups are most affected by the economy, the importance of certifications, and other key metrics.

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Cybersecurity in Accounting: 4 Industry Experts Share Their Insights

Ace Cloud Hosting

“It takes 20 years to build a reputation and a few minutes of cyber-incident to ruin it.” ― Stephane Nappo As technology is rapidly evolving, so is the dependency on.

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The case for consolidating your tech stack

Accounting Today

Pruning your technology from time to time will make sure its better serving you and your clients.

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Federal Reserve Cuts Interest Rates by Half a Point

CPA Practice

The U.S. Federal Reserve announced on Wednesday that it will lower the federal funds rate by half a point. The rate is the amount it charges banks to borrow funds, which in turn affects the rates consumers and businesses see for loans, mortgages, credit cards and other finances, and can impact the economy as a whole. The Federal Reserve said the decrease will help decrease inflation, and was justified due to the economy achieving a better balance with employment levels.

Finance 115
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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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Fed cuts rates by half point

Accounting Today

The Federal Reserve lowered its benchmark interest rate by a half percentage point Wednesday, an aggressive shift aimed at bolstering the U.S. labor market.

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Executives Expect More Deepfake Attacks on Accounting and Financial Data

CPA Practice

More than half of C-suite and other executives (51.6%) expect an increase in the number and size of deepfake attacks targeting their organizations’ financial and accounting data – otherwise known as deepfake financial fraud – during the next 12 months, according to a new Deloitte poll. That increase could impact more than one-quarter of executives in the year ahead, as those polled report that their organizations experienced at least one (15.1%) or multiple (10.8%) deepfake financial fraud incid

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Top 10 Internal Controls to Prevent And Detect Fraud!

GrowthForceBlog

7 min read September 18th, 2024 The Association of Certified Fraud Examiners (ACFE) has released its latest internal business fraud findings in its Occupational Fraud 2024: A Report to the Nations study. It is the largest global study on occupational fraud and examines nearly 2,000 cases that resulted in more than $3.1 billion in monetary losses. Key Takeaways What Are Internal Controls: Internal controls are guidelines, policies, and procedures that are designed and implemented to protect a bus

Account 108
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Intuit debuts enterprise suite

Accounting Today

Intuit announced the release of Intuit Enterprise Suite, an all-in-one solution that is meant for larger, more complex businesses.

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Beyond automation: How AI can transform the human side of accounting

Xero

I was excited to sit down at Xerocon Nashville recently with Ashley Francis, a CPA with almost 25 years of experience, who has become an accounting expert on using artificial intelligence. Based in the US, Ashley is a well-known speaker, teacher and writer in the accounting industry on the value of incorporating generative AI (GenAI) and automation into practices.

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Small Businesses Bracing For Challenging Holiday Season, Study Shows

CPA Practice

Many small businesses rely on a strong holiday season to make ends meet, and while inflation has cooled from previous highs, its longtail impact is being felt by both SMBs and their customers. The latest Small Business New report from Constant Contact shows that 89 percent of SMBs globally have been impacted by inflation, and 52 percent of consumers have reduced their spending at SMBs due to inflationary pressures.

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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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How to File Employee Taxes (Federal Income, Social Security, & More) 

Patriot Software

You’re part business owner, part marketer, and part … payroll tax filing extraordinaire. And being a payroll tax filing extraordinaire requires that you know how to file employee taxes. Filing payroll taxes takes time and an understanding of the process. Read on to learn more about filing employee taxes.

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Improving Advisory Firm Services for Hispanic and Latin-American Entrepreneurs Drives U.S. Economic Growth

CPA Practice

By Vanessa Piedrahita. Hispanic- and Latino-owned businesses are an economic powerhouse in the U.S., driving growth, innovation, and job creation. Nearly 5 million Hispanic-owned companies generate about $2.8 trillion in economic output and $800 billion in annual revenue, outpacing the overall growth of U.S. businesses. Understanding and addressing the unique needs of these businesses is crucial for advisory firms seeking to make a meaningful impact in this sector and foster growth.

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EY Responds to the Viral Letter From Bereaved Mother of a Deceased Auditor, Social Media Calls BS

Going Concern

EY has issued a statement addressing the now-viral email written to EY India Chairman and Regional Managing Partner Rajiv Memani by a mother who tragically lost her daughter, an EY employee for just four months, in July. Anita Augustine’s scathing letter details how her 26 year old daughter Anna Sebastian Perayil “worked tirelessly at EY, ” giving in to unreasonable demands placed upon her day after day because she was new and wanted to impress. “However, the workload, ne

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Prosperity Partners acquires CCA

Accounting Today

Prosperity Partners, a private equity-backed firm in Chicago, has completed the acquisition of Detroit-based Cendrowski Corporate Advisors.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

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.

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Cloud in Legal Industry – Benefits and Use Cases

Ace Cloud Hosting

There has been a significant shift to cloud-based solutions across the legal industry in the last several years. The adoption of cloud technology in law firms is on the rise.

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ERP Implementation Planning: Key Steps to Success  

Withum

Implementing a new Enterprise Resource Planning (ERP) system is a transformative decision for your organization and marks a significant milestone in its growth trajectory. As with any major initiative, the journey begins with a strong foundation and strategic approach. This article provides a deep dive into the initiation and ERP implementation planning phases of your ERP implementation project, offering strategic steps to ensure your organization is set up for success from the very beginning.

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The Importance of an Accurate Income Statement

Basis 365

An income statement, also known as a profit and loss (P&L) statement, is a crucial financial document that provides a detailed summary of a company's revenues, expenses, and profits or losses over a specific period. While many business owners focus on revenue growth, an accurate income statement offers deeper insights into the financial health of a business.

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Court Rules Against Coca-Cola Israel in Tax Dispute

CPA Practice

Ela Levi-Weinrib Globes, Tel Aviv, Israel (TNS) The Central Bottling Co. (Coca-Cola Israel), which exclusively markets Coca-Cola products in Israel, has been dealt a major blow and will have to pay hundreds of millions of shekels to the Israel Tax Authority. The Tel Aviv District Court has dismissed appeals filed by the company against the tax assessment issued by the Tax Authority on the Central Bottling Company’s tax liability for royalties it paid for using the intellectual property rights of

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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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Andrew Lassise on Building a Successful Tech Stack

Canopy Accounting

In this episode, Andrew Lassise, founder of Tech for Accountants, shares his career journey, from entering the financial planning world during the 2009 recession to transitioning into IT and tech consulting for accountants. He discusses the importance of leveraging technology in accounting firms, integrating AI, and building a robust tech stack that can scale with business growth.

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ProAdvisor CRM Survey Request

Insightful Accountant

Insightful Accountant wants your input on CRMs that you may use, refer to your clients, implement for your clients, or you are certified in. Please take 5 minutes to complete a very brief 3 question survey.

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You Only Need These 4 Things to Have a Great Firm

Ryan Lazanis

Discover the 4 crucial elements to focus on for business growth. Nail these, and you'll likely become a super happy firm owner—find out how! The post You Only Need These 4 Things to Have a Great Firm appeared first on Future Firm.

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Limited Partners Can No Longer Avoid Self Employment Tax

Insightful Accountant

The Tax Court's recent ruling in Soroban Capital Partners has significant implications for determining whether a limited partner's distributive share qualifies for the self-employment tax exception under Section 1402(a)(13).

Tax 52
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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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Creative Agency Podcast Deep-Dive: Secrets of Successful Agencies

Summit CPA

How does an accidental agency owner attract prospects, convert them into clients, and then scale their business to a point that selling is a realistic possibility? What are the factors that separate an ordinary agency from one that thrives?

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New NetSuite SuiteProjects Pro

Insightful Accountant

NetSuite has Introduced new AI-Powered Project Management Capabilities to bolster the 'suiteness' of SuiteProjects and anticipate risk, accelerate planning, and increase productivity.

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Amazon to Require Workers to Return to Office 5 Days a Week

CPA Practice

Lauren Rosenblatt The Seattle Times (TNS) Amazon will require employees to work from the office five days a week, starting in January, the tech giant has announced. It’s a shift from the current three-day-a-week return to office mandate, which Amazon has had in place since May 2023. In a note to employees Monday, CEO Andy Jassy wrote that the company is going to return to being in the office the way we were before the onset of COVID.

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Streamline Your E-commerce Bookkeeping with MyWorks Software with Peter Leonard

Insightful Accountant

In this episode of the Accounting Insiders Podcast, host Peter Leonard introduces MyWorks Software, an innovative tool designed to automate e-commerce bookkeeping for online businesses.

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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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Modern Tipping Has Changed: How Much Does the Worker Actually Receive?

CPA Practice

By Izzy Kharasch. Sometimes you tip at a restaurant, sometimes you give a gratuity and more and more you’re paying a service charge. What happens to that money? All of those may equal 20 percent, but how much goes to the server depends on which one you are paying. How Much of Your Tip Does the Server Get? My bill is $300 and I like to tip 20 percent, which means I am giving the server $60.

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How could Ford’s expansion of its Avon Lake plant to manufacture electric commercial vans impact its balance sheet, cash flows, and profitability?

Wendy Tietz

Ford Motor Company (NYSE: F) is moving ahead with a $1.5 billion expansion of its Ohio Assembly Plant in Avon Lake to start producing a new electric commercial van by 2026. This investment is part of Ford’s strategy to shift towards more electric and hybrid vehicles that are cost-efficient and offer better value to customers.

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ATA Lands Private Equity Investment From Copley Equity Partners

CPA Practice

Top 200 accounting firm ATA has joined the private equity party, announcing this week that it’s receiving a minority investment from Boston-based Copley Equity Partners. ATA partners will maintain majority control of the firm, and its executive and leadership teams will stay intact, including managing partner John Whybrew, who has led Jackson, TN-based ATA since 2016.

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The CannaBiz Success Show: A Journey Through Cannabis Regulations and Market Dynamics

Anders CPA

The CannaBiz Success Show is excited to announce its new co-host, Brett Adams! For Brett’s first episode, he and Guillermo explore the New Jersey cannabis market with Brian Dowling, CEO of Sussex Cultivation, and Joe Bellantoni, CFO of Sussex Cultivation. Brian shares his transition from college athlete to cannabis entrepreneur, influenced by his family’s healthcare business.

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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.