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The second chapter of FloQast's 'Controller’s Guidebook' survey program pinpoints the critical relationship between accountants and technology, and elevates potential solutions to encourage synergy.
Accounting Today reported on Friday: The estimated gross U.S. tax gap increased to $496 billion annually for tax years 2014 through 2016, a rise of over $58 billion from the prior estimate — and the Internal Revenue Service estimates the gross tax gap will rise to $540 billion for 2017-2019. “The increase in the tax gap estimates reflects that the IRS needs to do more, both in improving taxpayer service as well as working to improve tax compliance,” said outgoing IRS Commissioner Chu
When you manage your accounting books by hand, you are responsible for a lot of nitty-gritty details. One of your responsibilities is creating closing entries at the end of each accounting period. What are closing entries? Closing entries are entries used to shift balances from temporary to permanent accounts at the end of an accounting […] READ MORE.
Starting a new business is a pretty exciting time for any new business owner. The idea that they are beginning something great empowers them to work their hardest and do their very best to have a successful business. These first few moments as a new business owner are exciting times, however, they may cause the business owner to underestimate the importance of having good accounting practices in place from the very start.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Although the accounting talent shortage seems like something that just popped out of nowhere and couldn’t possibly have been predicted, oh, a decade ago, I feel compelled to remind everyone that we here at Going Concern saw this coming. I don’t say that in a “hurr durr I’ve been talking about this for ten years and no one listened” way, I mean the writing was on the wall way back so the profession really shouldn’t be surprised that we ended up here.
Clickthrough rates for web content, production efficiency, and average resolution time have one major commonality. These are all examples of key performance indicators, better known as KPIs.
All businesses have assets. Assets can be broken down into two categories: tangible and intangible. Understand the difference between tangible vs. intangible assets to keep your accounting books and financial statements accurate. Tangible vs. intangible assets Both tangible and intangible assets add value to your business. But, tangible assets are physical while intangible assets are […] READ MORE.
All businesses have assets. Assets can be broken down into two categories: tangible and intangible. Understand the difference between tangible vs. intangible assets to keep your accounting books and financial statements accurate. Tangible vs. intangible assets Both tangible and intangible assets add value to your business. But, tangible assets are physical while intangible assets are […] READ MORE.
Adding the right cofounder to your startup team can open several doors, from bringing in a unique perspective to improving the quality of your product or service, to establishing credibility with prospective investors. Senior tax manager Josh Snyder detailed the benefits of recruiting a cofounder, how to choose the right fit for your startup and more in a recent article for the St.
We all know how frustrating email can be, especially for accounting teams. Sometimes it just doesn’t work as you want it to. Email often becomes a major source of frustration – especially when things go wrong. In Part I and II of this series, we took a look at some of the most common accounting email blunders that can cost time and money.
A new tax law in Maryland seemed ready to rattle every company that sold digital products in the U.S. But a court has now invalidated the Maryland Digital Advertising Tax. Earlier this month, an Anne Arundel County Circuit Court judge blocked the digital advertising tax, which was set to be levied on companies making more than $100 million. The judge ruled that the tax violates the Internet Tax Freedom Act and the U.S.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
The benefits of following GAAP for Small Business: Many small business owners shy away from anything associated with Generally Accepted Accounting Principles (otherwise known as GAAP) thinking they apply only to large publicly held organizations. This thinking is far from true, however. GAAP was created to be a standard "rule book" for organizations to follow, and was intended to be used by all businesses -- small and large, private and public.
Burkland has compiled a new toolkit to help you extend your startup’s runway with intelligent scenario planning, cost reduction, and cash flow measures. The post Introducing Burkland’s New Toolkit to Help Extend Your Startup’s Cash Runway appeared first on Burkland.
As a business owner, you need more incoming than outgoing money to keep your company afloat. How much money you have left over after you pay expenses is known as profit. You should measure your business’s profits, which is known as profitability. Understand profit vs. profitability to analyze your company and make financial decisions. Profit […] READ MORE.
This article was originally featured in the Retailist on October 3rd, 2022. Businesses have new ways to sell today, as marketplaces such as Amazon and the business’s own website have joined established channels like direct retail sales and wholesale sales. Each brings different sales tax implications – and retail and ecommerce businesses aren’t always aware of their obligations.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Last week the Australian Securities and Investments Commission (think Aussie PCAOB) informed us that Deloitte and KPMG need to take “continued deliberate and concerted action” to improve the quality of their audit work because apparently it is just that bad. Deloitte did not meet ASIC standards on half of audits inspected, KPMG came in at 48 percent.
Like many small business owners, you send customers bills after providing a product or service. An effective invoicing system gives customers more flexible payment options. You need to know which types of invoices to send customers for different situations. Types of invoices There are many different types of invoices you can send to customers. Each […] READ MORE.
We know it’s not enough to just create really #beautiful accounting software – we also need to teach you to use it. Spending time educating yourself on Xero can help you get time back once you’ve built up your confidence. . You probably know by now that when you have a question about Xero, Xero Central is your first stop. But did you know it’s also your home for proactively learning about Xero?
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
FT is reporting that Deloitte just axed half of UK executives this week, a surprisingly abrupt move that was announced to staff yesterday. The reason? “The changes were driven partly by a desire to replace older members of the management team with younger partners who would be young enough to run for election as chief executive at the end of North-South Europe CEO Richard Houston’s second term in 2027,” a source told FT.
Running a small business takes passion, gumption, and determination. But, becoming a small business owner isn’t a fast track to getting rich. So, how much do small business owners make? How much does a small business owner make a year? Incomes vary because of factors like industry, geographic location, and experience. Being a small business […] READ MORE.
Over the past month, we’ve made updates to support the transition to Single Touch Payroll Phase 2 in Australia, improvements to eInvoicing, changes to multi-factor authentication, and more. Read on for more details about these and other product updates in Xero. New features. Enjoy more beautiful reports — Global. We’ve made a number of enhancements to new reports in Xero over the past month.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
On Thursdays the official NASBA Twitter account publishes #ThursdayThoughts, usually some kind of tip or trick like last week’s advice on what to do if you are having trouble matching to your NASBA Dashboard’s CPA Portal account ( here’s the link for that if you need it). But today’s thought is less a tip and more of an abject dream-crusher.
Getting your first sale from business is a great milestone to accomplish. Once you have a steady stream of customers, it’s time to start thinking about growing. With a solid growth strategy, you can take your business to new heights. Small business growth strategies give you a roadmap for expanding your company. A plan will […] READ MORE.
Invoicing is one of the most critical parts of running a business or practice. That’s why we’re committed to providing you with a smart and simple way to create and send an invoice, so you can work more efficiently, get paid on time and give your customers a better experience. We have two invoicing experiences in Xero right now: the older version (known as ‘classic’ invoicing) and ‘new’ invoicing.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Watching the World Series has me thinking about the importance of excellence in every skill a player needs. These include pitching, batting, catching, throwing, hitting the cutoff man, running, sliding, stealing a base, bunting, practicing, working out, training, loosening up, following signals, getting coached, making sure equipment is maintained, studying opposing players, planning for the game and teamwork.
When you sell goods or services, you need to create a record of the transaction. Depending on the situation, you will either give customers an invoice or receipt. What is the difference between an invoice and a receipt? Understand invoice vs. receipt distinctions to avoid confusion. Invoice vs. receipt Both invoices and receipts are paper […] READ MORE.
From early November 2022, we’ll be updating some fields in Xero Practice Manager (XPM) and Xero HQ. This is all part of our work to provide you with a more unified client record in the future, so you can enjoy a seamless connection between our practice tools. . What’s changing in XPM and Xero HQ. Over the coming weeks, the fields in your practice tools will look a little different.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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