Fri.Jul 05, 2024

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Preventing Corporate Fraud

FraudFiles

Executives have the means to commit and cover up the largest frauds. They have access to the information and computer systems, they have power over all employees and they have access to the money. The finance function is riddled with fraud risks and the company’s executives are in the best position to take advantage of [.

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Ask what you can do for your profession

Accounting Today

Whether there will be a next generation of accountants is, in many ways, up to all of us.

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Danny Werfel’s Cat Is the IRS’s New Social Media Darling

CPA Practice

IRS Commissioner Danny Werfel recently dropped by the studios of NBC10 in Boston to talk about tax scams, the agency’s Direct File tax-filing software, and how the IRS is trying to reach a younger audience via social media. That led to a discussion about Werfel’s cat, Emmett. Why? “We have just now started to put my cat Emmett out there as the expert on tax scams,” Werfel said during the interview.

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Practice Profile: A hand up for young accountants

Accounting Today

Huselton, Morgan and Maultsby's Student Leadership Program aims to steer more students into accounting — and prepare them for other decisions down the line.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

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

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Fewer Workers Planning to Change Jobs

CPA Practice

Despite elevated job openings, the Big Stay is not going away, according to new research from talent solutions and business consulting firm Robert Half. In a recent survey, 35% of workers plan to look for a new job in the second half of 2024, down from 49% who had similar plans during the same period last year. Year-over-year, job search plans have declined across generations: Generation July 2023 June 2024 Gen Z 74 % 44 % Millennials 63 % 45 % Gen X 44 % 26 % Baby Boomers 23 % 13 % See job sear

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How Accounting Can Impact Your Fundraising Strategies

GrowthForceBlog

6 min read July 5th, 2024 Beyond compliance and annual reporting, fundraising and accounting might not seem inextricably linked. Key Takeaways Maximize the Use of Restricted and Unrestricted Funds: The most valuable type of donation a nonprofit can receive is a contribution of unrestricted funds because this money can be used for any purpose, whether it be spent directly on the mission or on overhead expenses… Use Accounting Software and Organization-Wide Integrations: No nonprofit team has the

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UK General Election: The tax implications of a new, Labour government?

Wellers Accounting

Chris Thompson speculates off the 2024 UK General Election result how the newly elected Labour government could raise taxes.

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How to Complete a Market Analysis the Right Way

Patriot Software

When you start a business, do you just wing it? Or, do you take time to plan and research your strategies before you jump into the market? If you’re like most entrepreneurs, you probably prepare your business before taking the plunge.

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Tech News: Avalara announces 49 new integrations

Accounting Today

Plus, io.finnet launches virtual signer feature for enhanced digital asset operations; Caseware to hold webcast on AI audits; and other accounting tech news.

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Activity-based Costing (ABC) System: Finding Where Your Money Goes

Patriot Software

Not sure what activities your overhead costs are going towards? With activity-based costing, product-focused businesses can get into the nitty-gritty details to better allocate expenses. That means you can more accurately analyze your spending—and price your products. Activity-based costing is a complex subject.

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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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On the move: MGO names new CIO

Accounting Today

New Plante Moran managing partner begins tenure; Withum promotes 20 to partner; and more news from across the profession.

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How to Post Journal Entries to the General Ledger

Patriot Software

As a business owner, you juggle a number of tasks, including accounting. You’re responsible for creating journal entries after every transaction. But that’s not all. You also need to know how to post journal entries to the general ledger. Learn how here.

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Estate planning for divorcing couples

Accounting Today

When your clients are divorcing, you need to figure out two things: Which one is your client, and who is their attorney?

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Building On Solid Ground: Your Construction Bookkeeping Foundation

Randal DeHart

As a construction business owner, you must stay informed about your finances and financial situation. You do this through bookkeeping, the process of recording transactions in your business. This includes transactions, credit card charges, and any other economic activity within your company. Financial management can easily be overlooked when managing projects, dealing with subcontractors, and ensuring customer satisfaction.

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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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Oklahoma Taxpayers Get Extended Deadline Due to Storms

CPA Practice

The Internal Revenue Service is providing a tax relief extension for individuals and businesses in Oklahoma that were affected by severe storms, straight-line winds, tornadoes, and flooding that began on May 19, 2024. These taxpayers now have until Nov. 1, 2024, to file various federal individual and business tax returns and make tax payments. Following the disaster declaration issued by the Federal Emergency Management Agency (FEMA ), individuals and households that reside or have a business in

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3 advantages of a corporate tax solution with premium certification from SAP

ThomsonReuters

Staying compliant with tax requirements is stressful enough when everything runs smoothly. However, managing tax compliance becomes increasingly complex as your company grows, making simplifying tax management a top priority. Evaluating your current corporate tax solutions As your business expands, so must your technology. Without careful planning, a corporation can end up with inefficient, disparate solutions that don’t integrate.

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Tax Implementation Guides: Income Shifting as a Tax Strategy

CTP

Any sophisticated tax strategy needs at least one thing to be successful: an implementation plan. While you may have a clear vision in mind for how things will unfold, if the taxpayer isn’t on the same page as you, the strategy will fall flat. Part of how you can contribute your expertise is by emphasizing the importance of assigning specific people to each step—even if that means hiring outside help—and creating a timeline for meeting deadlines.

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Plante Moran Appoints New Managing Partner

CPA Practice

Jason Drake has been named managing partner of Plante Moran, one of the nation’s largest audit, tax, consulting, and wealth management firms. As managing partner, Drake will focus on firm growth and investments in people and technology, while also maintaining Plante Moran’s rich culture and dedication to client service. Drake succeeds Jim Proppe, who held the position for the last seven years.

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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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How To Get Bookkeeping Clients Quickly: 19 Tips To Use In 2024

Ryan Lazanis

Discover how to get more bookkeeping clients fast with our comprehensive guide. Learn effective tips to quickly find and grow your business. The post How To Get Bookkeeping Clients Quickly: 19 Tips To Use In 2024 appeared first on Future Firm.

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California Gas Tax Increases

CPA Practice

Rob Nikolewski The San Diego Union-Tribune (TNS) As tensions mount between the petroleum industry in California and state policymakers, the cost of a gallon of gasoline just got a smidge more expensive this week. Monday marked the start of the new fiscal year and California’s state excise tax on gasoline increased 1.7 cents per gallon. That’s part of the annual adjustment for inflation that is part of Senate Bill 1, which the Legislature in Sacramento passed and then-Gov.

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Why Review Your UK Workplace Pension Scheme Provider

Menzies

Menzies LLP - A leading chartered accountancy firm. With offering a Workplace Pension Scheme a mandatory requirement since the introduction of Automatic Enrolment, many employers may feel that having set up a scheme, their job is done and dusted. In reality, employers have an obligation to ensure their pension scheme remains fit for purpose, both in its suitability for its members and how it’s being managed.

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U.S. Job Growth Slows

CPA Practice

Matthew Boesler Bloomberg News (TNS) U.S. hiring and wage growth stepped down in June while the jobless rate rose to the highest since late 2021, bolstering prospects that the Federal Reserve will begin cutting interest rates in coming months. Nonfarm payrolls rose by 206,000 and job growth in the prior two months was revised down by 111,000, the Bureau of Labor Statistics said Friday.

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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.