September, 2022

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.

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?

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Tax Fraud Blotter: Three times the fun

Accounting Today

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

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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.

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The CFO Playbook: How to Decrease Costs & Increase Engagement

Learn how to reduce costs while simultaneously increasing employee morale.

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.

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.

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More Trending

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.

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.

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.

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.

Virtual Cards — Everything You Need to Know

Speaker: Eoin Hession, Controller at Recharge

Even though virtual cards have been part of the payments system for over ten years, there remains a lack of clarity around how they work and their value to companies large and small. In this webinar, Eoin Hession, Controller at Recharge, talks about how his company uses virtual cards in their operations. Sign up today!

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

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.

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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.

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).

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How to Write OKRs: 45 Effective Examples

Many companies are embracing objectives and key results (OKRs) as the best practice for committing to goals and following through. Objectives are outcomes that reflect current company priorities. Each employee should write OKRs that roll up to larger company goals.

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.

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?

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What Contractors Should Know About Accounting

Jennifer Eubanks

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

IRS Audit & Appeals Help – How the Inflation Reduction Act Affects

MyIRSRelief

Although the 2022 Inflation Reduction Act (IRA) was touted as being a bill designed to reduce inflation, it carries with it considerably more baggage.

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Management Techniques for Offshore Employees

This whitepaper looks at the changes and challenges that stem from remote hiring and current HR trends that address them. Download this comprehensive guide to learn more!

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

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.

IRS says improperly forgiven PPP loans are taxable

Accounting Today

IRS Tax fraud Tax Paycheck Protection Program Charles Rettig

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.

Building Smart with Distributed Teams

Speaker: Sam Ross, General Counsel at Remote; Jenny Bloom, former CFO at Zapier & Darren Murph, Head of Remote at GitLab

It’s clear that distributed teams are here to stay in some form or another. Adapting to this reality means finding the right systems and processes that support remote workers — including international ones — while controlling for risks and communication challenges. Watch to find out more!

How Does FP&A Help Startups Scale?

BurklandAssociates

FP&A helps startups scale by leveraging the company’s data for decision making, including data that may be hidden beneath the surface. The post How Does FP&A Help Startups Scale? appeared first on Burkland. Accounting Financial Modeling Marketing Operations

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

Audit Partners and MDs Work Much, Much Harder Than Everyone Else at PwC

Going Concern

Saw this in PwC’s 2022 Audit Quality Report and wanted to get the peanut gallery’s opinion on this math: My first thought is imagine how much worse these numbers would be if you people didn’t eat as many hours as you do.

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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.

The First 90 Days: Onboarding Checklist

Connect with your people from day one with this development and engagement checklist.

IRS continued to delay business tax refunds from pandemic

Accounting Today

Tax refunds Tax credits TIGTA IRS Coronavirus Tax Tax relief

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.

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How People Operations Can Help Startups Succeed in a Down Economy

BurklandAssociates

People Operations can help your startup weather the tough times and emerge with a solid competitive edge when the economy begins to improve. The post How People Operations Can Help Startups Succeed in a Down Economy appeared first on Burkland. HR Operations

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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

The #1 Cloud ERP Software to Manage Your Small to Mid-size Business.

From startup to enterprise NetSuite offers an ERP solution to help businesses scale and grow. With visibility and control when adaptability has never been more important, you’ll be able to streamline the right process and make smarter decisions, faster.