GrowthForceBlog

MAY 1, 2023

8 min read Chief financial officers are sometimes thought of as behind-the-scenes, numbers people who can close themselves in an office with a stack of financial data and emerge with their jobs successfully completed. This picture, however, is dreadfully outdated, and the role of a modern CFO has been transformed. While CFOs are still financial experts, they must also be strategic visionaries who are directly involved in all aspects of business operations.

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Dent Moses

MAY 4, 2023

Our firm works with hundreds of businesses of all shapes and sizes. Though there are many different business structures and industries, there are many commonalities. Our business clients are usually focused on sales, cash flow, and growth. Accounting needs are often considered a necessary evil rather than a priority. Oftentimes, one of the owners or a family member is tasked with handling the dreaded accounting responsibilities.

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MineralTree

MAY 4, 2023

How to Respond to Vendor Inquiries with AP Automation & Payment Services Not having enough time is the bane of every AP team. Too many are still burdened by the labor- and time-intensive tasks of manual invoice and payment processing, and are paying a heavy price for it. This creates a never-ending cycle of inputting and coding data, tracking down people for approvals and authorizations, and preparing checks – not to mention stuffing, sealing, and mailing payments.

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AP Automation AP Processes accounting and finance Start-ups 81

CPA Practice

MAY 1, 2023

As firm leaders expand their firm’s footprint, account-based marketing (ABM) should be part of their plan. It can help you identify and cater to a specific market through the sales and marketing team’s efforts. What is account-based marketing? Gitnux summarizes (ABM) like this, “Account-based marketing (ABM) is an increasingly popular form of B2B marketing that focuses on targeting individual accounts instead of large groups or an entire market.

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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?

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IgniteSpot

MAY 3, 2023

4 Essential CFO Functions Do you really need your CFO to be involved in the sales cycle? Yes, because their job is rapidly becoming about more than reporting. Some even dip their toes into HR! CFO services make your organization more valuable to shareholders, increase your ROI, and improve internal and external relationships.

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Basis 365

MAY 4, 2023

Starting and running a business can be both exciting and challenging. As a business owner, you will face numerous decisions that can impact your venture's financial health and success. One key area that requires careful consideration is accounting. Proper accounting is crucial for managing your business finances effectively and making informed decisions.

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Airbase

MAY 2, 2023

If you’re like most finance professionals right now, you’re keeping a close eye on spending. But at the same time, you’re aware of research that shows companies that invest in technology to improve efficiency and productivity are more likely to survive economic downturns. You’re also busy adjusting budgets and forecasts in response to ever-changing market conditions.

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Accounting Insight

MAY 3, 2023

As accountants and finance professionals, we need to play a critical role in the creation of sustainability strategies for the businesses we work in and currently the timing for ensuring we are up to speed with the latest thinking in sustainability is crucial. We need to be in a position to respond coherently to the upcoming IFRS Sustainability Disclosure standards, the first of which will be released at the end of June: IFRS S1 General Sustainability-related Disclosures and IFRS S2 Climate-rela

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GrowthForceBlog

MAY 3, 2023

10 min read When running a business, the goal is to make money by providing valuable services or products to your customers. Before your business can thrive and make money, though, a business owner has to figure out how to help their business survive, and mere survival might be a bigger challenge than you realize. More than 20% of new businesses fail within the first year, and 90% of all businesses eventually fail.

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RogerRossmeisl

MAY 5, 2023

The starting point for a business valuation is generally the subject company’s financial statements. Here’s an overview of how historical financial statements can serve as the basis for a valuation professional’s conclusion under the cost, income and market approaches. Cost (or asset-based) approach Because the balance sheet identifies a company’s assets and liabilities, it can be a reliable source of financial information, especially for companies that rely heavily on tangible assets (such as m

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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.

Maine

TaxConnex

MAY 4, 2023

When your customers shop with you online, they provide a physical billing or shipping address. Whether they know it or not, they also give you another bit of location information: an Internet Protocol (IP) address. Many tech companies consider themselves service providers, exempt from sales and use tax. But in light of the 2018 Wayfair decision and an expanded definition of nexus, more of these businesses are now subject to sales and use tax collection on these services, including but not limite

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BurklandAssociates

MAY 3, 2023

For mid- to late-stage SaaS startups with IPO plans, there can be material benefits to closing outside of December. The post Should I Move My SaaS Startup’s Fiscal Year-End from December? appeared first on Burkland.

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CPA Practice

MAY 1, 2023

By Brit Morse, Inc. (TNS) If your small business doesn’t offer a retirement account to your employees, now may be a good time to change that. More small businesses across the country are taking advantage of new tax credits to offer 401(k) programs , according to a report from the Wall Street Journal. The new tax credits are widely available now thanks to the Setting Every Community Up for Retirement Enhancement (Secure) Act , which went into effect on Dec. 29, 2022.

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RogerRossmeisl

MAY 5, 2023

Fraud perpetrated by employees, management, vendors or customers can happen to any business. And if it does, it can take years to recover from the financial losses and reputational damage. In some cases — especially those involving small companies that lack the cash reserves to cushion the blow — a fraud incident can shut down a business. If your business suspects fraud, engaging a forensic accountant to investigate, zero in on a perpetrator and gather evidence that can be used in court, is gene

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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.

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TaxConnex

MAY 2, 2023

Alaska Gov. Mike Dunleavy is reportedly preparing to introduce a sales tax as part of a long-term budget plan for the state. Five states don’t have a statewide sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware (aka the “NOMAD” states). Vermont was the last state to adopt a sales tax, in 1969. Alaska is furthest along of the five in instituting a statewide sale tax.

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Withum

MAY 4, 2023

There has been a notable increase in companies moving their manufacturing operations back to the United States, a phenomenon known as reshoring. Private equity firms have played a crucial role in this trend, investing in businesses shifting their manufacturing base. Reshoring Process in Private Equity The reshoring process in private equity encompasses three primary phases: Assessment Planning and Strategy Development Implementation and Integration Firms initially assess the viability and advant

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CPA Practice

MAY 1, 2023

By Brittany Leitner, Kiplinger Consumer News Service (TNS) Although men remain in the lead as breadwinners in heterosexual marriages in the United States, the earnings gap is decreasing at a record pace. According to new research from Pew, the “share of women who earn as much as or significantly more than their husband has roughly tripled over the past 50 years.

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RogerRossmeisl

MAY 5, 2023

If your business occupies substantial space and needs to increase or move from that space in the future, you should keep the rehabilitation tax credit in mind. This is especially true if you favor historic buildings. The credit is equal to 20% of the qualified rehabilitation expenditures (QREs) for a qualified rehabilitated building that’s also a certified historic structure.

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tax cpa Sales business tax 156

Advertisement

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.

Spend Management

Insightful Accountant

MAY 2, 2023

In today's business landscape, being a thought leader is everything. Otter PR's Amanda Reseburg spins you through some of the fine points of honing your content writing craft.

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Withum

MAY 2, 2023

Implementing an ERP system requires a cross-functional team of individuals with diverse skill sets, including business process experts, project managers, IT professionals, and end-users. Each team member brings unique perspectives, experiences, and expertise to the table, which helps avoid ERP implementation failure and ensures the deployment is successful.

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CPA Practice

MAY 2, 2023

By Michael Grothaus, Fast Company (TNS) The World Economic Forum (WEF) has released its annual Future of Jobs Report for 2023 and it makes for some interesting reading, not only for employers but for younger people who have yet to decide upon a career path. One of the most interesting parts of the report looks at the jobs market outlook for the next five years (2023-2027).

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RogerRossmeisl

MAY 5, 2023

If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments. Therefore, if funds are paid as dividends, they’re taxed twice, once to the corporation and once to the recipient.

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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!

Insightful Accountant

MAY 3, 2023

The Synder SYNC partner program will help provide resources and education opportunities geared toward taking advantage of new revenue opportunities in the fast-growing landscape.

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Education 105

ThomsonReuters

MAY 4, 2023

QUESTION: During the COVID-19 pandemic, we established a telehealth-only plan to provide benefits to individuals who were not eligible for coverage under our regular group health plan. Can we continue to offer this benefit? ANSWER: During the COVID-19 pandemic, telehealth-only benefits have been exempt from certain requirements that otherwise apply to group health plans.

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CPA Practice

MAY 5, 2023

Fortune recently released its 26th annual ranking of the 100 best companies to work for , and the business magazine’s list for 2023 includes seven of the top 15 biggest accounting firms in the U.S. The data, collected by the website Great Place to Work, is based on survey responses from more than 1.3 million workers across the country. Employees are asked to provide feedback about their company’s culture by responding to 60 statements on a five-point scale and answering two open-ended questions.

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RogerRossmeisl

MAY 5, 2023

A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is an important area and is too often overlooked when families start to put their affairs in order. Under the fair market value basis rules (also known as the “step-up and step-down” rules), an heir receives a basis in inherited property that’s equal to its date-of-death value.

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Advertisement

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

Start-ups

Going Concern

MAY 3, 2023

Today was the much-anticipated firmwide webcast in which we expected PwC leadership to announce a return to office. Lo-and-behold…it happened. A source tells us: 50 percent “people together,” virtual channel staff three times per month, firmwide events requirement two times per quarter. So return to work 50 percent starting July. r/PwC is discussing it and even had a poll earlier today getting opinions on what people would do if Tim Ryan announced an RTO.

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Canopy Accounting

MAY 4, 2023

In this webinar, we get a closer look into the newly improved Canopy Payments. Learn how our integrated payment processing tool can improve client experiences, simplify and speed up the process to collect payments, and more.

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CPA Practice

MAY 3, 2023

By Edward E. Fernandez, Kiplinger Consumer News Service (TNS) For investors looking for a way to defer capital gains taxes when selling a real estate investment property, there are a variety of strategies to leverage depending on circumstances. Usually, a 1031 exchange comes to mind; however, an often-underutilized tool that helps investors achieve a similar result is a 721 exchange, or umbrella partnership real estate investment trust (UPREIT).

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RogerRossmeisl

MAY 5, 2023

Mergers and acquisitions can be stressful for entrepreneurs who have invested blood, sweat and tears in their businesses — or second-generation owners who are selling their parents’ legacies. Setting the asking price and understanding the deal terms, including complex tax matters, can be overwhelming. Fortunately, a business valuation professional has the financial knowledge and real-world experience to help maximize the selling price and minimize the guesswork.

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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.

Finance