Survey: Accountants are burning out
Accounting Today
JULY 19, 2022
Canopy Accounting
JULY 27, 2022
Have you ever wondered how the rest of the world views your job? Entertainment can sometimes give us a peek through that window. Usually, when we want to plug into TV or movies, it’s to escape our daily lives. But, sometimes, it can be fun to watch shows about our lives, especially our work lives! There’s shows about doctors, lawyers, IT teams, journalists, government officials and a myriad of other professions.
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Going Concern
JULY 13, 2022
On May 20 the Houston headquarters of R&D tax credit consulting firm Alliantgroup was raided by the IRS , in the weeks since we’ve had plenty of speculation about the whys and we’ve heard countless accounts from current and former Alliantgroup employees about the “evil, toxic, and emotionally damaging company” that employed them.
Intuitive Accountant
JULY 19, 2022
Utilizing the Maslach Burnout Inventory for the first time in an accounting setting, FloQast's survey reveals the alarming extent of burnout on professionals and its impact on critical accounting processes.
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.
Xero
JULY 11, 2022
We recently held our fourth Xero Responsible Data Use Advisory Council meeting via Zoom with seven council members across four time zones to discuss the most important emerging trends around responsible data use for small businesses. How time has flown – we’ve nearly completed our first year of a council. The council includes myself, Samuel Burmeister of Tall Books (advisor), Laura Jackson of Popcorn Shed (business owner), Maribel Lopez of Lopez Research (analyst), Wyndi and Eli Tagi of WE Accou
Withum
JULY 20, 2022
As far as the IRS is concerned, not all tax scams should be treated equally. Last month the Service announced which scams made the list comprising the IRS’s “Dirty Dozen” for tax season 2022, meriting extra scrutiny. Included on the list is a wide range of tax evasion tactics. This article highlights four of them, namely syndicated conservation easements, micro-captives, return nonfiling, and secreting assets. .
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Anders CPA
JULY 19, 2022
The Employee Retention Tax Credit (ERTC) is gaining more and more attention as companies are discovering that they have through the end of 2023 (for 2020) and 2024 (for 2021) to amend their previously submitted 941s. Eligible companies impacted by the pandemic have been able to claim generous amounts, which makes the credit very appealing. But it’s important to keep in mind that there are gray areas in the IRS guidance around the credit.
Going Concern
JULY 25, 2022
We received the following from a small firm owner who is suffering under the weight of talent shortages, massive workloads, and hoards of would-be clients shopping around because their accountant (rightly) raised their fees. What’s a small firm to do? I have a small firm in [redacted]. I have been reading constantly about how the large firms are merging, paying more for top talent, taking people away from other firms, etc. due to the natures of the current accounting marketplace.
Intuitive Accountant
JULY 28, 2022
In today's changing workplace, many organizations are looking to complement their full-time staff with independent contractors to grow their business. WorkMarket's Bridget Quinn Kirchner explains how it works.
Xero
JULY 3, 2022
This is a guest post by accountant Daniel Hardy of Xero Platinum Partner firm Caveo Partners. Recently, Caveo Partners was named the best boutique firm of the year at the Australian Accounting Awards. . With a new financial year upon us, you might be thinking, what’s next for my small business? In fact, you’ll likely have all kinds of thoughts about where you’re at and where you’re headed next.
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
Withum
JULY 28, 2022
We all knew this day was coming, and it has finally arrived. Multiple businesses notified us this week that their claims for the employee retention credit (ERC) are being audited by the IRS. This does not mean that these businesses did anything wrong, or that they will end up owing money to the IRS; it just means that the IRS selected their ERC claims for review.
Snyder
JULY 13, 2022
The accounting industry has undergone some serious technical changes due to technological advancements but first and foremost due to a global pandemic. Accounting firms have been forced to drastically change working environments and the way they work, as well as reconsider the services they provide. This turbulent time led to the rise in demand for client accounting services (CAS) – something that has been around for a couple of decades, but is coming into full swing only today.
Anders CPA
JULY 6, 2022
Acquiring a company can come with many twists and turns to navigate. One of those being the accounting involved in combining businesses. To help simplify purchase accounting for business combinations involving private companies, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-18 back in December 2014.
Going Concern
JULY 19, 2022
We’re learning this morning that folks at EY will not be getting lunchtime DoorDash today, their paychecks from last Friday have been unceremoniously yeeted from their bank accounts. Per a tipster: There’s a payroll snafu of some sort at EY and seems just about everyone had their payroll reversed. Mass panic and overdrafts. And a Fishbowl thread: According to our tipster and comments on Fishbowl the firm has yet to send out any communications regarding the issue and it’s too ea
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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.
Intuitive Accountant
JULY 10, 2022
Accounting firms can help their clients improve company tech stacks with integrated SaaS solutions and build a tech stack of their own for greater automation, efficiency and growth. Here's what you need to know.
Xero
JULY 17, 2022
Ringing in the new financial year may come without fireworks or champagne, but it is a great opportunity to reflect on the present and what lies ahead. It can be a moment to pause and take note of where your business currently is and how it operates – as well as where you want to be. It’s also a useful time to make changes or upgrades, especially to systems and processes, so things will be smooth-running well into the future.
Withum
JULY 18, 2022
After receiving complaints from small business owners, the Senate Finance Committee held a hearing on June 14th to review the effect of the 2018 Supreme Court decision in South Dakota v. Wayfair on small businesses and remote sellers. In 2018, the Supreme Court reviewed and upheld the lower court’s decision in South Dakota v. Wayfair eliminating the physical presence requirement for a state to impose a sales tax on sales of goods or services in that state.
Accountant Advocate Submitted Articles
JULY 13, 2022
It’s time to get serious about operational efficiency.
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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.
SchoolofBookkeeping
JULY 29, 2022
Nothing like waking up to a fire alarm, right?? Today when opening QB desktop, we were greeted with the above screenshot. Every company we opened gave the same message, even the ones that didn't have QB Payments. Googling the phone number didn't give much confidence. I called the number and it is indeed Intuit, but they were having higher than normal call volume.
Going Concern
JULY 13, 2022
We all have that one friend whose door is always open to us. This person has been with you through all the ups and downs, and uneventful middle parts between. You trust this person because they’ve never let you down, their advice is always solid. What if clients thought of you as that friend? What if when something happens with your client’s business you are the first one they think of to call?
Intuitive Accountant
JULY 10, 2022
By leveraging emerging technologies, accountants are able to conduct more strategic planning, analysis and execution. Jedox CEO Florian Winterstein dives into the results.
Xero
JULY 15, 2022
When the products and features you use aren’t working as they should, we know it’s really important to be able to access information about what’s happening and why quickly. We’ve recently made some changes to the way Xero’s status page works for that reason, to ensure the information you receive is more consistent, accurate and valuable. Now, when you access Xero’s status page, things will look a little different in both how the information is grouped, as well as the content of the update itself
Advertiser: Paycor
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Withum
JULY 14, 2022
This week’s Barron’s July 11, 2022 cover story is about the top two dozen CEOs. A criterion that has usually been used to identify the top CEOs was their company’s stock performance. With the stock market down this year, they needed to reach for other measures, and I think the following applies to most successful leaders. The article’s purpose was not to suggest stocks to invest in, but to identify key features of winning leaders.
IgniteSpot
JULY 26, 2022
1. Separate business and personal. Small businesses often mix business with pleasure. That means that as many as 27 percent keep it “simple” and use the same credit cards and bank accounts for business and personal use, according to one survey. While that may be convenient in the short term, the long-term outlook isn’t as good. In fact, it’s a bookkeeping nightmare for you or your virtual bookkeeping partner to separate where and how you spent your money at the end of the year—and you have to be
ThomsonReuters
JULY 26, 2022
On July 14, 2022, a nonpartisan, nonprofit think tank provided recent analysis of the Consumer Price Index (CPI) that shows the federal minimum wage rate of $7.25 per hour to be at its lowest value since February 1956. FLSA minimum wage rate. The Fair Labor Standards Act (FLSA) of 1938 established, among other things, a federal minimum wage rate. That rate was effective on October 24, 1938 and was $0.25 per hour.
Going Concern
JULY 7, 2022
EY has had a few firsts in recent years: first Big 4 firm with unlimited PTO , first audit firm to get a $100 million fine from the SEC , first Big 4 firm to compare men and women with waffles and pancakes , and first place among the Big 4 in public company audit clients for the past seven years. Make that eight straight years now. Audit Analytics recently released its annual market share analysis of auditor engagements at public companies , and the top 10 firms by registrant counts in 2022 are
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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.
Intuitive Accountant
JULY 26, 2022
News coming from the recent special Security Summit series warns tax professionals to beware of evolving email, cloud-based schemes to steal taxpayer data. Check out the story on Tax Practice News.
Xero
JULY 20, 2022
I’m so thrilled to be back at Xerocon London connecting with so many of our accounting and bookkeeping partners and app partner community. It’s been such a long time since we were all able to be together in person, and it’s great to be making real-life connections again. . As we all begin to navigate this post-pandemic business environment, it’s clear that many small businesses have faced huge challenges.
Withum
JULY 29, 2022
I just attended a meeting at my local public library and coincidentally just finished reading a book about a library. Neither is what you might think it would be about. The Personal Librarian by Marie Benedict and Victoria Cristopher Murray was about the establishment of The Morgan Library, which is a major museum in the heart of Manhattan. It started out as the private library of J.P.
Ryan Lazanis
JULY 21, 2022
In this post, I’ll be outlining strategies your firm can take today for how to get accounting clients and land new business in a rapidly changing world. I’ll be backing these strategies up with statistics gathered from a recent study titled “ The Next Chapter for Small Business: How to Thrive in a Changed World ” conducted by Forrester Consulting on behalf of Xero, which surveyed 1,000+ small businesses and 1,000+ consumers around the world in June 2020 to tap into today&
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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.
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