Going Concern
MARCH 15, 2023
While the general investing public is asking “where were the auditors?” in regards to the recent collapse of Silicon Valley Bank and Signature Bank, the banks’ auditors are insisting that, having exercised requisite due professional care, their unqualified opinions were based on the information available to them at the time and as such, the firm stands behind them.
Canopy Accounting
MARCH 3, 2023
We know accounting can be a tough field full of numbers and serious work. And sometimes, that work can be taxing (pun intended.) But seriously, we all experience problems with clients, coworkers and bosses. Once in awhile, it's a good idea to poke fun at your job and have a laugh. With that in mind, take a look at these 20 hilarious accounting memes and see which ones you relate to the most.
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Snyder
MARCH 2, 2023
As a business owner, understanding the differences between new and returning customers is paramount to driving growth and success. While new customers represent opportunities for growth and expansion, returning customers are the backbone of your business, providing steady revenue streams and brand loyalty. To effectively market to both types of customers, you need to understand their differences and how to use financial data to influence your marketing strategy.
Accounting Insight
MARCH 10, 2023
A lot has been written about OpenAI’s unveiling of ChatGPT. It’s garnered a very excited response. To summarise, it’s a chatbot. By responding to prompts, it can answer questions, create stories, and it remembers its previous responses. Its core function is to mimic a human conversation. What separates it from other chatbots is the absurd amount of data behind it – 300 billion words’ worth.
Advertiser: Paycor
Choosing an HCM partner is one of the most important decisions you’ll make because time is one of your company’s most strategic assets. How do you want to spend your time?
Canopy Accounting
MARCH 8, 2023
Women make up nearly 60% of the accounting service industry according to 2022 data. In honor of International Women's Day, we rounded up a list of the Top 10 Innovative Women in Accounting and Tax. From the future of accounting to tax policy, these women are experts across the industry. Check it out!
Going Concern
MARCH 16, 2023
Accounting Today has published “ The 20 biggest problems for firms in 2023 ” and no one will be surprised to find out that the war for talent ranks #1 among the firms AT surveyed. Talent actually has its tentacles in a number of problems on AT’s list and spills over into several items–capacity issues, burnout, retention. Hell, half the list is related to talent.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
MARCH 30, 2023
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory awards and judgments for “personal physical injuries or physical sickness” are free from federal income tax under the tax code. This includes amounts received in a lawsuit or a settlement and in a lump sum or in installments.
CPA Practice
MARCH 27, 2023
By Faustine Ngila, Quartz (TNS) Côte d’Ivoire citizens pay the highest income taxes in the world according to this year’s survey findings by World Population Review. While both its sales and corporate tax regimes may be considerably lower than those of other countries globally, at 60%, Côte d’Ivoire’s income tax rates are markedly higher compared to developed countries.
Withum
MARCH 15, 2023
The IRS issued a press release with a renewed warning to taxpayers regarding claims for the Employee Retention Credit (ERC) on March 7, 2023. This marks the third time in six months the IRS has issued a written warning to taxpayers – the first two were issued in October and November of 2022, and we wrote about the October notice here. If your business plans to claim or already has claimed the ERC, it is imperative that you substantiate your claim because the IRS is signaling significant enforcem
Patriot Software
MARCH 12, 2023
To Whom It May Concern, I am Mike Kappel, CEO of Patriot Software in Canton, OH. I am calling on our government and lawmakers to step in and put their full weight behind SVB immediately in order to make tens of thousands of hardworking American businesses and their families whole again.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Ready to automate the month-end close process but don't know where to start? We got you covered. Join us in this informative webinar where we will walk you through the main consideration areas when it comes to evaluating and selecting a month-end close solution. We will cover everything from sponsor champion identification, vendor evaluation, pitfalls during contracting, IT requirements, termination considerations, and more.
Xero
MARCH 8, 2023
Below is the message shared with all Xero employees today Dear Xeros Over the past few weeks, as I have stepped into the CEO seat, we have had several conversations about Xero’s strengths and significant market opportunities. We have also talked candidly about our challenges following the rapid scaling of the company. As we look to the next phase of Xero’s growth, many of you have asked me what change is needed for us to simplify focus, strengthen our execution and balance growth with profitabi
Insightful Accountant
MARCH 20, 2023
Murph takes you through the basic steps to use QuickBooks Online-Advanced Spreadsheet Sync. Preliminary results of our Top 100 Applicants specializing in QBO-Adv show not many of their clients are using this feature.
Going Concern
MARCH 24, 2023
TW: TurboTax bashing Before you get all bent out of shape over an anime dating sim that asks for your Social Security number for the purposes of helping you complete your federal tax return, know two things: Steam yeeted the game you’re about to see off the platform in a mere 24 hours and Tax Heaven 3000 is a project of Brooklyn art collective MSCHF not a legitimate tax prep alternative.
CPA Practice
MARCH 29, 2023
The Internal Revenue Service warns that trusting tax advice found on social media can lure otherwise honest taxpayers and tax professionals into compromising tax situations. Social media can circulate inaccurate or misleading tax information, and the IRS has recently seen several examples. These can involve common tax documents like Form W-2 or more obscure ones, like Form 8944 that’s aimed at a very limited, specialized group.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Withum
MARCH 30, 2023
As of March 29, 2023, the IRS has published five documents expressing that the employee retention credit (ERC) is rife with fraud because of unscrupulous tax credit shops. See October 19, 2022 (press release); November 7, 2022 (COVID Tax Tip); March 7, 2023 (press release); March 7, 2023 (OPR Memo); March 20, 2023 (IRS adds promoter claims involving the ERC to its Dirty Dozen list of tax scams).
Patriot Software
MARCH 16, 2023
Dear Patriot Software Customers, As I mentioned in my March 14th timeline update to you, your payroll and payroll-tax dollars are securely flowing again at Silicon Valley Bank (SVB). Patriot is in good shape, and our Customer Support staff is here to help you.
Xero
MARCH 22, 2023
Over a decade ago, Xero acquired the WorkflowMax (WFM) product to build out Xero’s practice tool offering globally, and ultimately help us to create a more seamless experience for accountants and bookkeepers to run their practice in the cloud. We followed with the launch of Xero Practice Manager (XPM), bringing to fruition the early vision we had for the WorkflowMax product.
Accounting Insight
MARCH 30, 2023
With 2023 now well underway, we’re beginning to see changes in how practices approach their use of cloud, as they navigate past historic challenges to take advantage of the opportunities the cloud offers. The cloud was once viewed as mainly a cost-savings-focused technology model, allowing businesses to control and even optimise expenditures to get more out of their IT budgets.
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The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.
Going Concern
MARCH 29, 2023
Ed. note: I asked ChatGPT to write about automation in accounting from the perspective of an accountant losing his or her job to AI. Here’s what it said. Note: Going Concern does not publish AI-generated content unless it’s clearly labeled as in this case. Believe it or not, humans write most of this crap. As an accountant, I have always known that my job was at risk of being automated.
CPA Practice
MARCH 7, 2023
By Gail Cole. The Uniform Certified Public Accountant Examination (CPA Exam) is regularly updated to reflect enhancements to accounting and auditing standards as well as tax laws and regulations — and to improve the efficiency of the exam. The next update goes into effect January 1, 2024 , and places new emphasis on the role of emerging technology in delivering accounting services.
Withum
MARCH 27, 2023
In March of 2022, after President Biden’s State of the Union Address, we summarized increased efforts specifically related to the Paycheck Protection Program (“PPP”) and other pandemic relief fraud. Now a year later, President Biden has doubled down on the government’s efforts to fight PPP Fraud. President Biden’s Proposal to Greatly Expand Resources President Biden has announced a Pandemic Anti-Fraud proposal which increases the funding by $600 million and increases the statute of limitations a
Patriot Software
MARCH 10, 2023
Canton, Ohio Patriot Software, an online payroll and accounting company, announced today that some employee direct deposits were affected by the abrupt Silicon Valley Bank closure.
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
Xero
MARCH 26, 2023
It’s safe to say that artificial intelligence (AI) is now part of common language and everyday life. But while we’ve all heard of the term, not everyone really knows what it is or how to use it (or rather, whether it can be useful for them). Believe it or not, the term ‘artificial intelligence’ has been with us since as far back as 1955, when a number of academics and professionals in the field of technology first proposed a study of the term.
Anders CPA
MARCH 15, 2023
Anders has been recognized as one of Accounting Today’s Top 100 Firms for the third year in a row. After breaking into the Top 100 Firms in 2021, Anders continued to gain momentum in 2022, moving up six spots from #100 to #94. The firm merged in Summit CPA Group last year and combined with organic growth they climbed 16 spots up the list to #78 in 2023.
ThomsonReuters
MARCH 16, 2023
Rev. Proc. 2023-17 (Mar. 9, 2023) Available at [link] The IRS has announced 2024 indexing adjustments to the applicable dollar amount used to calculate employer shared responsibility payments under the Affordable Care Act. As background, applicable large employers (ALEs) may be liable for an employer shared responsibility penalty under Code § 4980H(a) if they fail to offer minimum essential coverage to a sufficient number of full-time employees.
CPA Practice
MARCH 31, 2023
Tim Fernholz, Quartz (via TNS). Sometimes it seems like billionaires can dominate our lives—or at least the news. A mystery in U.S. tax data, however, suggests at least one super-wealthy individual flew under the radar until the very end. The U.S. Treasury’s daily reports of government financial transactions turned up a surprising data point on Feb. 28, 2023: The deposit of $7 billion in the category of “estate and gift” taxes.
Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker
If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!
Withum
MARCH 29, 2023
It was the best of times; it was the worst of times for New York Met Fans. On December 2nd, 2022, long-time Met’s pitcher Jacob deGrom signed a 5-year contract worth $185 million with the Texas Rangers. The ace of the Mets pitching staff, who had been a lifelong Met, had decided to head to Texas for what he called a “winning culture” and likely tax savings.
Insightful Accountant
MARCH 5, 2023
Our spotlight of the Insightful Accountant 2022 Top 100 ProAdvisors continues with a spotlight on Leah's Insights' Leah Berger. See what she says it takes to stay on top of your game.
Going Concern
MARCH 30, 2023
McKinsey & Co. is joining KPMG , BDO USA , and Accenture in culling the consulting herd. Like Accenture, McKinsey doesn’t get much lip service on this website but it is worth talking about here because cuts from non-Big 4 consulting firms reflect the overall health of the consulting market which therefore effects the firms we do write about.
Basis 365
MARCH 1, 2023
Somewhere on your road to $1M in revenue, your eCommerce business’s financial workflow will start to break down. Manual processes and bad data will start to obscure what your true financial position actually is. Common issues are issues with your inventory balance on the Balance Sheet, your Cost of Goods and Gross Margin on the Income Statement, Sales Tax filings, reconciling the fees taken out of your Amazon settlements, just to name a few.
Advertiser: Paycor
Why are HR leaders so important to business success? Because leaders across the organization, from the C-suite to frontline managers, disproportionately affect employee engagement. It goes back to the old saying: “A boss has the title, but a leader has the people.” Learn more and discover the 3 steps to driving loyalty and engagement: The true power of intentional coaching The secret to optimizing performance The best ways to reward employees & retain top talent Don't miss out, download now!
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