Wed.Apr 19, 2023

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New Talent Deployment Strategies for 2023

CPA Practice

As a leader in your firm, you likely have ambitious goals to impact your clients’ bottom lines and grow your firm. But to reach those objectives, you need a team, and that’s becoming increasingly difficult to find if you’re hiring accountants. According to Caseware’s 2023 State of Accounting Firms Trend Report , more than 90% of accountants and 95% of auditors find hiring skilled talent challenging.

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PwC Once Again Tops the Vault Accounting 25, EY Almost Didn’t Make the List

Going Concern

Vault has announced its much-loved Accounting 25 list today and it should come as no surprise that PwC has once again topped the list, making it 11 years in a row at the top for P. Dubs. Congrats to them for holding down the throne. While prestige is the most important factor in the Vault Accounting 25 ranking formula, the 11,000 accounting professionals surveyed also value the following factors: firm culture, type of work, location, work/life balance, compensation, business outlook, and trainin

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5 Steps for Healthy Practice Transitions

CPA Practice

By Rick Dennen. Leadership transitions in accounting practices happen for many reasons, including retirements, resignations, deaths, buyouts, or simply having a new partner leading the practice, yet owners often put off planning for these types of changes. The time for transition will come, though, and when it does, you’ll want to hand over the reins smoothly.

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4 questions to drive your audit firm’s evolution

ThomsonReuters

The accounting and audit profession is undergoing significant changes as a result of the rapid advancement of technology. While some have expressed concerns that automation may replace human auditors, the reality is that technology is here to enhance the profession rather than replace it. Automation tools can help streamline processes , reduce inefficiencies, and free up human auditors to focus on higher-value tasks.

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Planning Your Restaurants Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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U.S. Job Growth Slows, But Economists Say Recession Not Looming

CPA Practice

By Nate DiCamillo – Quartz (via TNS). The U.S. labor market grew at its slowest pace in two years in March, but it’s not signaling a recession. The U.S. added 236,000 jobs in March, almost right in line with expectations of economists polled by FactSet for 240,000 jobs added. “No recession in this data,” said George Pearkes, an investment analyst at Bespoke Investment Group.

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Having Payroll Problems Due to Business Verification Lock-out?

Insightful Accountant

QuickBooks Payroll customers are reporting being locked-out of QuickBooks Payroll Services, including Direct-deposit, even for do-it-yourself Desktop subscribers.

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Eved and SAP Announce New Pay and Vend Platform

Insightful Accountant

Eved and SAP partner to bring new Payment and Vendor Management Platform to Entertainment, Media and Production Companies.

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It’s Payback Time: How to Handle an Employee Expense Reimbursement in Payroll

Patriot Software

Does this sound familiar? You ask an employee to run a few errands for the office. They end up with a $10.79 coffee shop bill, $56.99 at the office supply store, and $25.28 at a local pizza joint. Sure, you plan to repay them. But how much do you know about employee expense reimbursement?

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California Department of Tax and Fee Administration Announces New Sales and Use Tax Rates

KROST

The California Department of Tax and Fee Administration (CDTFA) announced new tax rates, tax codes, and expiration dates that took effect on April 1, 2023. In the November election of 2022, California voters approved the latest district tax changes, which are now applied to specific cities and counties in California. If you would like to Read the full article.

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Contractor Business Systems Series: Part 6 – Property Management System

Cherry Bekaert

Government Property Management System is one of the six systems covered by the Department of Defense’s (DoD) Contractor Business Systems. In this sixth episode of Cherry Bekaert’s podcast mini-series on each of the six Contractor Business Systems, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, and Brendan Halloran , a Senior Manager in the Firm’s GovCon practice who previously was a Divisional Administrative Contracting Officer (DACO) at the De

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Intuit Launches QuickBooks Small Business Index

CPA Practice

Intuit Inc., the financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, recently launched the Intuit QuickBooks Small Business Index , a new monthly indicator of employment and hiring among small businesses in the U.S., Canada, and the UK developed in collaboration with leading global economist and University of Chicago professor Ufuk Akcigit.

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How to talk with your boss about taking climate action

Accounting Insight

It’s time to take the initiative and start that conversation with your boss. How do you start making your business more climate conscious if you’re not the head honcho? Well, it should all start with a (maybe) awkward but (definitely) necessary conversation with your boss. It just so happens that this juicy topic is the subject of the final episode of ’1.5 degrees of Confusion’ – our new three-part mini-series, produced in partnership with WaterBear and narrated by BBC climate presenter Ade Adep

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You Are Not Charging Enough

Going Concern

Psst. Hey, you. Yeah, you. We are speaking on behalf of the universe with a message for you: You are not charging enough. Honestly, we could just end the article here but there are minimum word counts to hit so in a moment we’re going to give you a few reasons why you need to raise your fees, though you don’t need them. Crazy concept, right? You can just raise your fees.

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Intuit QuickBooks Launches Rest-of-World App Store

CPA Practice

To help create a more robust platform that serves accountants and small business owners globally, Intuit QuickBooks has launched a dedicated rest-of-world app store that allows developers to build apps that seamlessly integrate with the QuickBooks platform. By launching the rest-of-world app store, Intuit says it is encouraging developers to create niche solutions, effectively increasing the power of the platform.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Managing inheritance tax

Inform Accounting

Like many other taxes, inheritance tax (or IHT) allowances have been frozen. This sounds generous of the chancellor at a time when the government is strapped for cash. But it actually means that we are paying more in the long run. Data from HMRC has revealed that Inheritance tax collected between April 2022 and February 2023 totalled £6.4bn, which is £900m higher than the same period last year.

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Revised ISA (UK) 315

Menzies

Menzies LLP - A leading chartered accountancy firm. Identifying and Assessing the Risk of Material Misstatement: ISA 315 has been revised for periods commencing on or after 15 December 2021. The key changes are highlighted in this document. Objective: The objective of revisions to this ISA is to increase quality and drive more consistent and robust risk assessments, as well as promote the exercise of professional scepticism.

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Leadership Development in Your Skagit County Business

SkagitCountyTaxServices

Unless you’ve been living in a cave like this woman , you know that business ownership is a tough gig right now — it’s nearly an Olympic sport to keep things running and moving ahead. But, despite all that, being a business owner is also pretty great. And I’d make a guess that a big part of that for YOU is getting to be your own boss. You get to build something that has impact and move it any way you feel is the right way forward.

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Podcast: Deep dive into statistics and what to expect from 2023

Menzies

Menzies LLP - A leading chartered accountancy firm. This podcast was hosted for CICM (Chartered Institute of Credit Management), with Giuseppe Parla, Director, Menzies, and Craig Evans, CEO, Company Watch. The podcast looks at a deeper dive behind statistics and what’s in store for 2023. Giuseppe Parla – MIPA, MABRP Director View profile The post Podcast: Deep dive into statistics and what to expect from 2023 was written by Menzies Demi Fossitt and appeared first on Menzies LLP.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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A Curated Toolkit for Growth

Summit CPA

How a Business Operating System Benefits Digital Agencies When you’re trying to grow your business, or even solve a management issue, there are a few serious ways you can go about it. If you’re a DIY kind of leader, you can read a book (and there are some great ones out there). Or if you’re looking for outside expertise, you can hire a consultant (and there are some great ones out there).

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New product launches for Accountex London

Accounting Insight

With Accountex London around the corner, thousands of accounting and finance professionals will be returning to ExCeL London on 10-11 May 2022. 275+ exhibitors including industry giants and up and coming start-ups will be showcasing the best new products, tech, software, services and solutions in the world of accounting. With this year’s show bigger than ever, we thought we would highlight some new product launches at the event… Training and Education All in Place (Stand 16

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It’s Over

RitaKeller

“Don’t dwell on what went wrong. Instead, focus on what to do next. Spend your energy moving forward together towards an answer.” – Denis Waitley It’s over. I’m talking about tax season, although in a public accounting firm, “it’s” never over. If you are a successful, profitable, growing CPA firm, you are busy all the time.

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Healthcare “Micro Deals Experience” for Private Equity and Dental Support Organizations

Cherry Bekaert

The rollup strategy is a common business model for healthcare services growth companies. At Cherry Bekaert we call these high volume, small practice acquisitions “Micro-deals.” The rollup strategy presents several unique challenges for platform companies in comparison to traditional acquisition models. First, most small add-on practices (targets) usually do not have sophisticated or professionalized financial functions.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Auditors’ Tricks Can Help Find Academic Fraud, New Study Says

CPA Practice

Auditing practices from the accounting profession can be adapted to identify academic fraud, according to new research by the University of St Andrews. In a paper published in the journal Research Integrity and Peer Review , the authors show how effective statistical tools can be employed by those who review scientific studies to help detect and investigate suspect data.

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VAT Claim available for local authorities

Menzies

Menzies LLP - A leading chartered accountancy firm. Local authorities have been given the go ahead by HMRC to stop charging VAT on their leisure services, including those already supplied. Following the outcome of VAT tribunal cases brought by three local authorities, HMRC have allowed a change to the VAT treatment of leisure services they provide. To date, admission to a Local Authority provided leisure centre has been subject to VAT at 20%.

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Can Your Spreadsheet Do This? Tips on How To Use Power Automate

Withum

Excel has long been a staple for small businesses, but it’s time to step into the future with Power Automate. In this article, we’ll dive into concrete examples of how to use Power Automate and its processes to revolutionize your business operations, leaving traditional Excel spreadsheets in the dust. If you’ve ever wondered if there is an alternative to Excel (and maybe even a better one), this is your article.

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Things to consider when building an AppStack for your organisation

Accounting Insight

It’s a temptation for an organisation to invest a lot of time collecting the perfect combination of apps for your needs. However, there is a risk that the hunt for the perfect “app stack” can leave you with a system that is unnecessarily complex and at risk of failure. Whether you’re responsible for your own organisation’s finances, or are an accountant handling someone else’s, it’s worth considering whether the right accounting software could do the work of many applications.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Private Equity and Dental Support Organizations (DSO) Transactions

Cherry Bekaert

Cherry Bekaert’s Healthcare Deal Advisory practice is uniquely positioned at the intersection of our Private Equity and Healthcare & Life Sciences practices. This means your Cherry Bekaert Healthcare Transactions team not only has extensive deal experience, but also possesses in-depth expertise of the healthcare segment. As a result, we enhance the efficiency and value of every healthcare transaction at each stage of the deal with our industry-unique 100% healthcare/private equity led team!

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Biden Taxes Show Income of $580,000 in 2022

CPA Practice

By Evan Rosen, New York Daily News (TNS) The White House released President Biden’s tax returns on Tuesday, showing he and the first lady recorded an income of about $580,000 in 2022, just below their total from 2021. The release came Tuesday, the deadline for Americans to file their taxes with the IRS. Biden restored the federal government’s practice of sharing the president and vice president’s tax returns , in an effort to bring more transparency to the White House after his predecessor Dona

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Trump CFO Allen Weisselberg Released From Jail After 100 Days For Tax Fraud

CPA Practice

By Graham Rayman and Molly Crane-Newman, New York Daily News (TNS) The Trump Organization’s convicted finance chief Allen Weisselberg was sprung from Rikers Island on Wednesday. Donald Trump’s longtime moneyman, convicted of criminal tax fraud last August, had been behind bars for 100 days, the minimum he was required to serve with good behavior. A city Department of Correction source said Weisselberg wasn’t given special treatment.

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