September, 2022

article thumbnail

Reconciliation in Accounting: Difficulties in Reconciling the Accounts

Snyder

Financial statements provide a snapshot of a company’s financial health. They give a broad overview of a business and serve as an indication of its intercompany financial management, profitability, solvency, and liquidity.

article thumbnail

What Is a Furlough?

Patriot Software

When it comes to business, things don’t always go according to plan. At some point, you may find your company struggling to stay afloat financially. And if that time comes, you may need to furlough some workers to avoid drowning. So, what is furlough?

payroll 91
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Tax Fraud Blotter: Three times the fun

Accounting Today

Tax crimes Tax preparation Tax fraud Tax scams Embezzling Tax-related court cases

tax 79
article thumbnail

The Talent Shortage Has Gotten So Bad Clients Are Now Doing Their Own Audit Documentation

Going Concern

The Securities and Exchange Commission has charged Deloitte China with failing to comply with fundamental U.S. auditing requirements because in numerous audits over numerous years Deloitte China asked clients to select their own samples for testing and to prepare their own audit documentation.

audit 90
article thumbnail

The Power of Storytelling in Risk Management

Speaker: Dr. Karen Hardy, CEO and Chief Risk Officer of Strategic Leadership Advisors LLC

Join this exclusive webinar with Dr. Karen Hardy, where she will explore the power of storytelling in risk communication as a core component of a resilient organization's management framework!

article thumbnail

Putting a Price Tag on Intangible Assets

RogerRossmeisl

Intangible assets — such as patents, copyrights and trademarks — are essential to the operations of many companies, but they’re rarely reported on the balance sheet. And even when they are reported due to an acquisition, book value is often based on historical cost under U.S.

article thumbnail

But Who’s Counting? Episode 12: Should Businesses Consider Accepting Cryptocurrency?

Anders CPA

Some of the largest companies are now accepting bitcoin and other cryptocurrencies as payment, but how and when will this impact small and mid-size businesses? In this segment of But Who’s Counting?, David E. Hartley sits down with Anders tax partner and cryptocurrency guru Derek A.

cpa 98

More Trending

article thumbnail

What Is a Schedule H, and Are You Obligated to File One?

Patriot Software

Do you employ a household employee? Or, are you thinking about potentially hiring one? If so, you should know that hiring a household worker is not synonymous with hiring regular employees. When it comes to being a household employer, you must prepare for additional responsibilities.

payroll 84
article thumbnail

Risks of misunderstanding the impact of economic nexus

TaxConnex

By now most businesses that sell online have heard about nexus, the connection that a company has with a jurisdiction that ignites a sales tax obligation. Nexus can be economic and based on a threshold of sales volume in a given time.

article thumbnail

Your Accounting Inbox Needs a Workflow Overhaul: Productivity and Coverage

Lockstep

When scaling your business, email no longer becomes the “best” or “easiest” tool to use. This is why sales departments use Salesforce to manage account status, notes and communications.

article thumbnail

Council Post: Three Ways Today’s Accounting Professionals Can Increase Their Value

Jennifer Eubanks

As the profession undergoes digital transformation, traditional roles and activities of accountants must change and transform, as well

account 246
article thumbnail

Automating Vendor Bills: Solving Six Major Pain Points for Small Businesses

Small business owners are looking to reduce manual work and manage people more efficiently. Manually keying invoice data, approving invoices and losing or hiring staff are just some of the pain points they experience when managing vendor bills.

article thumbnail

Is Your Income Tax Withholding Adequate?

RogerRossmeisl

When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this doesn’t happen again next year. You might even want to adjust your withholding if you got a big refund.

article thumbnail

Gaining Customer Awareness for Your New Business

SMBAccountant

As a new business owner one of your first priorities is to get the word out about your company. Grassroots marketing can be a low-cost but effective way to gain a large amount of exposure to locally owned businesses or other specific audiences.

246
246
article thumbnail

Growing Pains: The Top 8 Accounting Issues We See at Startups

BurklandAssociates

Burkland’s Fintech Practice Leads Steven Lord and Smit Shukla share eight accounting gaps and issues to watch out for in the early days of scaling a startup. Startups are inherently Read More. The post Growing Pains: The Top 8 Accounting Issues We See at Startups appeared first on Burkland.

account 246
article thumbnail

How not to tank your sales tax audit (part 2)

TaxConnex

The sales tax audit can be one of the scariest – and costliest -- things an online business ever goes through. If you do get hit with an audit, it’s critical to handle the process correctly. Last time we looked at mistakes companies make leading up to an audit (Check out part 1 here).

audit 246
article thumbnail

Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

Join Wayne Spivak, experienced CFO and corporate finance expert, for an insightful discussion on managing cash flow and company profitability.

article thumbnail

Traditional Email Equals Time Wasted and Duplicated Efforts

Lockstep

Your Accounting Inbox Needs a Workflow Overhaul: Part 4. Email was never designed as an accounting tool.

article thumbnail

What Contractors Should Know About Accounting

Jennifer Eubanks

Government contractors are required to follow certain accounting guidelines to maintain their standing

account 246
article thumbnail

Is Your Business Required to Report Employee Health Coverage?

RogerRossmeisl

As you’re aware, certain employers are required to report information related to their employees’ health coverage. Does your business have to comply, and if so, what must be done?

cpa 207
article thumbnail

Boeing Starts Layoffs in Finance and Accounting, Will Outsource the Work to India

Going Concern

The post Boeing Starts Layoffs in Finance and Accounting, Will Outsource the Work to India appeared first on Going Concern. Industry Boeing Layoffs Outsourcing

article thumbnail

Everything You Need to Know About Crypto

Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy

This exclusive webinar with Ryan McInerny will teach you all about cryptocurrency and NFTs! Register to learn more about identifying crypto transactions, crypto asset market trends, managing risk and compliance, and supporting customers and partners using crypto-based payments.

article thumbnail

IRS says improperly forgiven PPP loans are taxable

Accounting Today

IRS Tax fraud Tax Paycheck Protection Program Charles Rettig

account 132
article thumbnail

Colorado: Fee or tax?

TaxConnex

Remote retail sales just got rockier in Colorado, which has begun imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state.

Colorado 246
article thumbnail

IRS Notice of Deficiency – Help Rights &Options

MyIRSRelief

Receiving an IRS Notice of Deficiency, also known as a “90-day letter,” is a serious matter that requires prompt attention.

cpa 130
article thumbnail

10 Cash Flow Questions Every Business Should Ask - ForwardAI

ForwardAI

Ideally, as a small business owner, you’ll know a lot about your company’s financials. But no matter how much time you spend deep in the books, there are some cash flow questions that you should Read more

account 130
article thumbnail

Exploring the Overlap: Cost Optimization and Digital Transformation

Speaker: Alex Jiménez, Managing Principal, Financial Service Consulting for EPAM

The largest banks have increased reserves for protection against deteriorating economic conditions. Should banks delay their digital transformation investments and focus on cost reductions? In this webinar, Alex Jiménez will walk us through that question and examine the prudent course of action.

article thumbnail

Inflation Reduction Act Provisions of Interest to Small Businesses

RogerRossmeisl

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy and taxes. There has been a lot of media coverage about the law’s impact on large corporations.

article thumbnail

The 5 Most Common Small Business Accounting Mistakes

VetCPA

Small businesses make accounting errors and oversights regularly. Here, we cover five of the most common small business accounting mistakes. Read on to see if you’re making any of these mistakes and how to avoid them in the future. You don’t take bookkeeping as seriously as you should.

article thumbnail

IRS continued to delay business tax refunds from pandemic

Accounting Today

Tax refunds Tax credits TIGTA IRS Coronavirus Tax Tax relief

article thumbnail

Don't forget physical nexus!

TaxConnex

Businesses who sell over the internet must pay a lot of attention to far-flung economic tax thresholds – all states with a state wide sales tax and more than a few localities enforce them now – so it’s easy to overlook a more-obvious tripwire like physical presence.

article thumbnail

The Anti-Money Laundering Act of 2020: Initial Catalysts, Current Implications, and Future Impacts

Speaker: Elizabeth "Paige" Baumann, Founder and CEO of Paige Baumann Advisory, LLC

In this session, Elizabeth “Paige” Baumann will cover the Anti-Money Laundering Act of 2020, which also includes the Corporate Transparency Act. She'll take a deep dive into the catalysts that brought on the act, the current implications of the act, and what impacts the act has on the future of banking and finance.

article thumbnail

IRS Notice of Deficiency – Rights & Options

MyIRSRelief

Receiving an IRS Notice of Deficiency, also known as a “90-day letter,” is a serious matter that requires prompt attention.

cpa 130
article thumbnail

What Small Business Owners Want From Accountants - ForwardAI

ForwardAI

This month Accounting Today released the results of its inaugural Small Business Accounting Insights Survey. This survey of more than 1,000 small business owners includes some positive news and some positively startling observations on what small business owners Read more

article thumbnail

Inflation Reduction Act Provisions of Interest to Individuals

RogerRossmeisl

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, extends and modifies many climate and energy-related tax credits that may be of interest to individuals.

cpa 198
article thumbnail

KPMG’s ‘Do As We Say Not As We Do’ Tips to Prevent Employee Turnover

Going Concern

KPMG has some sponsored content in Harvard Business Review about how to keep employees from defecting (defecting? Really? It’s a job, not the Sandinistas) and in it, the firm offers some suggestions to encourage employee loyalty.

108
108
article thumbnail

How Automation Can Streamline Your Month-End Close Process

Start the new year with powerful automation for your month-end close and reconciliation process. See how automation can change the trajectory of the close, buy back time, instill more confidence in the results, eliminate administrative headaches and be audit ready.