CPA Practice
APRIL 12, 2023
By Blake Oliver, CPA, and Chris Vanover, CPA. CPAs have always been passionate about numbers, using various metrics such as revenue, profit, headcount and realization to measure success. However, this focus on numerical indicators is contributing to the decline of the CPA profession itself. A talent shortage is affecting accounting firms across the demographic spectrum.
Ryan Lazanis
APRIL 12, 2023
Ready to set your accounting firm apart from the rest? In today’s episode, learn how you can stand out from other accounting firms and charge more while providing added value to your clients. Listen below. 0:34 – In this episode, I discussed how labeling and monthly packages devalue accounting services and create competition among firms. 1:15 – Many accounting firms use a 3-tiered approach with Gold, Silver, and Bronze plans, but the issue lies in labeling services as a list of
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Insightful Accountant
APRIL 12, 2023
The seventh annual "401(k) Plan Benchmark Report" shows the leading industries for 401(k) plans, with accounting professionals at the top of the list.
RogerRossmeisl
APRIL 24, 2023
Business valuation experts will usually provide formal written reports that explain how they arrived at their conclusions. Asking seven questions can help you determine whether an expert’s report is comprehensive and on-point. (1) Did the expert properly define the engagement? Most valuation reports start with a detailed description of the assignment.
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?
Withum
APRIL 11, 2023
Business email compromise (BEC) is one of the most financially damaging cyber crimes currently facing businesses. Organizations often experience losses in the hundreds of thousands, if not millions, of dollars before this exploit is discovered. According to the FBI Internet Crimes Complaint Center, there were almost 22,000 complaints of BEC, resulting in over $2.7 billion in losses in 2022, which was over 25% of total financial losses due to cyberattacks. 1 Google and Facebook collectively lost
Going Concern
APRIL 24, 2023
As aspiring lawyers everywhere learned with horror that GPT-4 is capable of passing the bar exam (in the 90th percentile of test-takers, no less) a whole bunch of academics were not-so-quietly putting GPT-3 to the test on accounting. Literally. Published in Issues in Accounting Education, a total of 328 authors from 186 different institutions in 14 countries sought to answer the question: how well does ChatGPT answer accounting assessment questions?
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
APRIL 7, 2023
By Cameron White. Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. Deloitte ranks the talent shortage among the top challenges that are expected to influence or disrupt businesses this year. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.
Insightful Accountant
APRIL 13, 2023
The bi-annual 'Global Crisis and Resilience Survey' takes a deep dive into why you need to anticipate and respond to disruption proactively—not only to survive, but to thrive.
ThomsonReuters
APRIL 19, 2023
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.
RogerRossmeisl
APRIL 25, 2023
Recently, the Financial Crimes Enforcement Network (FinCEN) told U.S. financial institutions to exercise caution when processing paper checks because they might be fake. Paper checks? Didn’t those go the way of the dodo? Jokes aside, electronic transfers have indeed replaced paper checks for many consumer and business payments. Yet paper checks are still used at many businesses and check fraud has been increasing.
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
APRIL 13, 2023
Our team hit the ground running in 2023, introducing a number of exciting features to new reports that we know you’ve been waiting for — including the addition of foreign currency to new reports. Here are some of the highlights and a sneak peek into what’s coming next. Don’t forget, the older versions of our reports will be retired on 31 July 2023. We urge you to start using new reports now , so you have plenty of time to get used to them before the older versions are retired.
Withum
APRIL 11, 2023
Having discussed fraud schemes , trends , and fraudster characteristics identified in the ACFE’s Occupational Fraud 2022: Report to the Nations , let’s shift our focus to the industries with the highest fraud risk and how all organizations can safeguard themselves from fraud or investigate actual or suspected incidents of fraud. It is essential for organizations to prioritize fraud awareness and internal controls to minimize the risk of fraud.
CPA Practice
APRIL 3, 2023
By Cameron White. Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. Deloitte ranks the talent shortage among the top challenges that are expected to influence or disrupt businesses this year. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.
Insightful Accountant
APRIL 9, 2023
Check out some of the cool customization features you can use with the icon bar, complements of internationally renowned ProAdvisor Esther Friedberg Karp.
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.
Going Concern
APRIL 11, 2023
Called it ! Financial Times reported moments ago : EY has called off the plan to break up its audit and consulting businesses after months of internal disagreement. The decision is set to be communicated to partners in a note on Tuesday, said people with knowledge of the matter. More to come shortly. The post The EY Split Is Officially DEAD appeared first on Going Concern.
RogerRossmeisl
APRIL 25, 2023
When preparing your tax return, we’ll check one of the following statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Filing a return as a head of household is more favorable than filing as a single taxpayer. For example, the 2023 standard deduction for a single taxpayer is $13,850 while it’s $20,800 for a head of household taxpayer.
Xero
APRIL 4, 2023
If you ever worked with Office 97, you’ll remember Microsoft’s iconic assistant Clippy. The animated AI-based paperclip would pop up in your document and offer to help you format whatever you were working on. Clippy would analyse and structure words in your document and help you format it according to what you were working on. For example, if anything vaguely resembled a resume, you would be prompted with: “It looks like you’re writing a resume!
Withum
APRIL 4, 2023
Explore Other Episodes #CivicWarriors #WithumImpact The post Volunteering and Campaigning for a Great Cause With The Leukemia & Lymphoma Society appeared first on Withum.
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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.
CPA Practice
APRIL 5, 2023
By Andrew Antos, Co-founder and CEO of Klarity. If you’ve been following recent news in even the most cursory fashion there’s a good chance you’ve heard about ChatGPT, the Large Language Model (LLM) technology that’s primed to revolutionize business operations. It’s an innovation that holds such disruptive promise that it has already begun to impact long-standing industries and left more than a few big incumbents spinning.
ThomsonReuters
APRIL 18, 2023
For business owners, payroll is complex and often their greatest expense. For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. Payroll errors are certainly a real concern, but with the right tools and resources in place, payroll services can be a growth opportunity for firms. Today’s global workforce, remote and hybrid work environments, and the ever-changing regulatory landscape have added additional layers of complexity to payroll.
Canopy Accounting
APRIL 21, 2023
If you've spent any time near a screen lately, you’ve heard of ChatGPT — a language model trained by OpenAI. Every day, a new thread appears of someone who has figured out the next thing ChatGPT can do. With the evolution of AI and OpenAI-based architecture, almost every industry must decide how to incorporate AI into their work models, including ours.
RogerRossmeisl
APRIL 24, 2023
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. Here are some of the reasons why. A big benefit of an S corporation over a partnership is that as S corporation shareholders, you won’t be personally liable for corporate debts. In order to receive this protection, it’s important that: The corporation be adequately financed, The existence of the corporation as a separate enti
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
APRIL 16, 2023
Since he was young, Johnno Green has had a penchant for construction. So one day when a guest speaker at his high school came looking for apprentice plasterers, he knew he’d found his break. Johnno cut his teeth working on residential builds before the Global Financial Crisis hit the housing market (and his employers), forcing a pivot into the commercial sector.
Insightful Accountant
APRIL 24, 2023
Will Hill, of Will Hill Consults and Ryan Conn, President, Shelton & Associates CPS's are hosting a 2 day immersive event to help you re-arrange and execute so that your work becomes rewarding, not exhausting.
CPA Practice
APRIL 26, 2023
With the IRS laser-focused on enforcement, many partnerships will find themselves subject to their first IRS audits under the new procedurally complex partnership audit rules. Under these rules, the default is that the partnership pays an entity-level tax called an “imputed underpayment” (IU) on any adjustments. This means, unless certain steps are taken, the current partners would bear the tax even if they weren’t partners for the year under audit.
ThomsonReuters
APRIL 13, 2023
Joint Resolution relating to a national emergency declared by the President on March 13, 2020, Pub. L. No. 118-3 (Apr. 10, 2023) Available at [link] Congress has passed, and the President has signed, legislation ending the COVID-19 national emergency on April 10, 2023. In January, the Biden administration issued a policy statement indicating its intent to extend the COVID-19 national emergency (NE) and public health emergency (PHE) declarations to May 11, 2023, and then end both emergencies on
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!
Going Concern
APRIL 3, 2023
Up north, the Canadian equivalent of the PCAOB has said that audit quality in America’s hat is on the decline and that the level of significant findings at non-annually inspected firms is “concerning.” This is per the Canadian Public Accountability Board’s 2022 Annual Report [ PDF ]. The Globe and Mail reports : Problematic audits are on the rise at Canada’s accounting firms, according to the industry’s national regulator, which found issues in a third of the audits it ex
RogerRossmeisl
APRIL 24, 2023
The “investment opportunity” someone just pitched could be a legitimate way to get in on the ground floor of a soon-to-be profitable business. However, it could also be a pyramid, Ponzi or similar fraudulent multi-level marketing scheme. How can you tell the difference between a real investment and a scam? Don’t get scammed Pyramid schemes can be relatively straightforward, such as recruiting people to sell vitamins or cleaning supplies and recruiting family and friends to also sell the products
Xero
APRIL 16, 2023
More and more businesses are focusing on sustainability, and for good reason. Not only do many small business owners personally feel it’s important to play a role in protecting the environment, doing so is proven to have a positive impact on their bottom line. We understand that taking the first steps toward sustainability in your business can feel overwhelming.
Insightful Accountant
APRIL 17, 2023
September 6, 2022 was the day Intuit's QuickBooks Accountant Leader Ted Callahan announced as the release of the QuickBooks Desktop 2023 line-up to ProAdvisors and Accountants. Murph provided a summary of what's new.
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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