Going Concern
JUNE 20, 2023
TL;DR: FloQast is hiring! Check it out. Remember your first job? Not your first real job, the one you took in high school before you were saddled with student loans, rent, and monthly bills. If you graduated in the last 10-15 years, it was no more than $15, likely closer to $7.25. When you grow up and score your first internship, $25 an hour is a lot of money (p.s.
Basis 365
JUNE 20, 2023
Efficient accounts payable management is vital for businesses, as it directly influences cash flow, vendor relationships, and overall financial stability. Unfortunately, many organizations fall prey to common mistakes in this area, leading to inefficiencies, errors, and financial losses. By recognizing and rectifying these errors, businesses can optimize their accounts payable processes and enhance their financial health. 1.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Ryan Lazanis
JUNE 19, 2023
Busy season accounting can in many ways seem unavoidable, but it can be manageable with the right approach. In this post, I’ll lay out 10 simple tips your firm can implement to keep yourself sane and to avoid you from working long hours during the busiest time of the year. Table of Contents Why Does Busy Season Accounting Happen? 10 Tips to Master the Busy Season 1.
Menzies
JUNE 19, 2023
Menzies LLP - A leading chartered accountancy firm. Hospitality & Leisure Outlook According to Barclays’s 2023 Hospitality and Leisure Outlook , in 2022, many businesses in the hospitality and leisure sector reported upward of 100% growth vs 2019. However, with reduced labour supply, the decline of cash (and subsequent increase in bank fees), a slow recovery from the supply chain crisis, and inflation, that growth has been slowing.
Speaker: Victor C. Barnes, CPA, MBA
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.
CPA Practice
JUNE 21, 2023
By Bob Purcell, CFO, Billtrust. The global economy remains on rocky footing, challenging businesses across industries and thrusting the financial professionals tasked with preserving their financial health into the eye of the storm. One area that’s felt an acute impact is the B2B sector, where organizations across industries are grappling with an influx of delayed payments at a time where predictable cash flow has become both more important and harder to come by.
Summit CPA
JUNE 21, 2023
Most businesses have a process to handle expenses incurred by their employees. These expenses can range from fees associated with a business trip (e.g., flight tickets, lodging) to fringe benefits (e.g., reimbursed costs for purchasing home office equipment). Establishing controls for this spending is necessary to properly track each transaction and ensure that the business banking information remains secure.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Xero
JUNE 19, 2023
There’s now a little over a month to go before old reports in Xero are retired. Our new reports are packed with powerful customisations that will help you get quick access to answers and streamline your financial analysis. As you finish up your work in old reports and prepare for the big day, it’s a good idea to understand where you can find information on new reports and get support from our team if you need a hand.
RogerRossmeisl
JUNE 19, 2023
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may contend with when you retire: Taking required minimum distributions. These are the minimum amounts you must withdraw from your retirement accounts.
Acterys
JUNE 20, 2023
In the face of global economic turbulence causing widespread disruptions to supply chains, companies are diligently scrutinizing market dynamics to gain insights into consumer behavior and improve demand prediction. Amidst these uncertain times, in-depth demand planning analytics emerges as a crucial strategy for controlling operational expenditures, guaranteeing pleasing customer experiences, and securing long-term profitability.
TaxConnex
JUNE 20, 2023
Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. Thresholds were established, filing forms and deadlines fixed and one by one states waited for the money to roll in (with Florida and Missouri among the latest of the 45, with Alaska perhaps soon to join them).
Speaker: Kim Beynon, CPA, CGMA, PMP
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.
MyIRSRelief
JUNE 23, 2023
Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Department of Treasury to represent taxpayers before the Internal Revenue Service (IRS).
RogerRossmeisl
JUNE 19, 2023
In adversarial situations — such as divorces, contract breaches and shareholder disputes — you might need to hire an outside business valuator to evaluate complex financial matters. To get the most from these professionals, it’s important to understand the two key roles they can play in conflict resolution. Keeping these roles separate helps prevent valuators from being seen as “hired guns” by judges, juries, arbitrators and mediators.
Acterys
JUNE 20, 2023
In the face of global economic turbulence causing widespread disruptions to supply chains, companies are diligently scrutinizing market dynamics to gain insights into consumer behavior and improve demand prediction. Amidst these uncertain times, in-depth demand planning analytics emerges as a crucial strategy for controlling operational expenditures, guaranteeing pleasing customer experiences, and securing long-term profitability.
TaxConnex
JUNE 22, 2023
It’s been five years since the U.S. Supreme Court’s Wayfair decision gave tax jurisdictions the power to require out-of-state companies collect and remit sales tax. Those governments jumped on the chance of such revenue and continue to do so. Some facets related to economic nexus are changing in certain states – sometimes for the better for remote sellers, sometimes for the worse.
Speaker: Mark Gilham, FCCA, CPP
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.
BurklandAssociates
JUNE 19, 2023
Startups are quickly adapting to a new normal of constrained VC support and lower valuations. As part of this process, however, founders should also take care to adapt, or at Read More The post The Right Runway: Why Breakeven Will Be Among 2024’s Top Startup Metrics appeared first on Burkland.
RogerRossmeisl
JUNE 19, 2023
Financial statements are central to understanding any business. A public company’s balance sheet, income statement and cash flow statement enable investors, lenders, the media and other stakeholders to value the company, forecast short- and long-term performance, and determine potential credit risk, among other purposes. To ensure analysis of a company is accurate and insightful, financial statements must be reliable.
Xero
JUNE 21, 2023
You win, or you learn – that’s one of Tennick Accountants’ internal mottos, and one that encouraged the firm to put themselves in the running and enter the 2023 Xero Awards UK & Ireland. For Graeme Tennick and his team that belief paid off, with the firm taking home the Small Firm of the Year award, the most hotly contested category of the programme.
Going Concern
JUNE 19, 2023
For those who have been paying attention and noticed us teasing a big story coming out of BDO for months now I’m sorry to say this is not it. I’d also like to say that while I totally understand the accusations of “clickbait” and “b t” (I see you, Fishbowl), that’s not why we can’t report on it yet. Just getting those ducks in a row, thank you for understanding.
Advertiser: Paycor
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.
CPA Practice
JUNE 23, 2023
By Edward E. Fernandez, Kiplinger Consumer News Service (TNS) In the context of a 1031 exchange, “boot” refers to the portion of a transaction that doesn’t meet the tax-free criteria and thus becomes subject to immediate capital gains tax. Forms of boot might include cash proceeds, mortgage reduction and non-transaction costs. Although boot won’t disqualify a 1031 exchange, understanding its implications is crucial for optimizing tax benefits and preventing unnecessary liabilities.
RogerRossmeisl
JUNE 19, 2023
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA fundamentals An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can only be established for the benefit of an “eligible individual” who is covered under a “high-deductible health plan.
Xero
JUNE 19, 2023
Millions of people around the world, myself included, are beyond excited in anticipation of the FIFA Women’s World Cup 2023 in July and August and Xero is incredibly proud to be a FIFA Women’s Football Partner. While we’ll all be caught up in the excitement of the tournament, it’s important to keep in mind the legacy – the enduring benefit – we can create from this moment in time.
Going Concern
JUNE 21, 2023
About an hour ago the Public Company Accounting Oversight Board (PCAOB) announced a settled disciplinary order [ PDF sanctioning Marcum for violations of PCAOB rules and quality control standards. This order imposes a $3 million civil penalty against the firm, this is on top of a $10 million penalty from SEC proceedings around the same conduct. The PCAOB’s penalty is the largest it has imposed on a “non-affiliate firm,” meaning an audit firm that is not a member of a global network.
Speaker: Cheryl J. Muldrew-McMurtry
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.
CPA Practice
JUNE 21, 2023
Artificial intelligence has been the focus of significant discussion within many professions, among them accounting, tax and legal. How are these professionals facing this new technology with regards to risk and benefit? What are the perils? Thomson Reuters, a global content and technology company, has released new research on generative AI that gauged the sentiment of professionals in legal, tax, and accounting firms in the United States, United Kingdom, and Canada.
RogerRossmeisl
JUNE 19, 2023
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions and errors in taxpayers’ records, as illustrated by one recent U.S.
Xero
JUNE 18, 2023
We’ve made some great progress towards creating a single source of truth for your client data. It’s all part of our work to connect our practice tools, so that in the future, as you manage your clients’ tax obligations in Xero, the data flows seamlessly into our practice management tools. This will help you work more efficiently, collaborate with your clients more effectively, and manage everything for your practice within Xero.
Going Concern
JUNE 23, 2023
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. Talent How Can the Accounting Profession Attract a Diverse Generation Z?
Speaker: Frank Taliano
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.
CPA Practice
JUNE 20, 2023
Many Americans consider starting and running a successful business to be a key part of the “American Dream,” but these entrepreneurs don’t necessarily want their own children to take up where they left off. When it comes to succession planning, half (52%) of business owners say they do not want their children to inherit and run the business, according to a recent Wells Fargo study.
RogerRossmeisl
JUNE 19, 2023
In recent years, many workers have become engaged in the “gig” economy. You may think of gig workers as those who deliver take-out restaurant meals, walk dogs and drive for ride-hailing services. But so-called gig work seems to be expanding. Today, some nurses have become gig workers and writers in Hollywood who recently went on strike have expressed concerns that screenwriting is becoming part of the gig economy.
Insightful Accountant
JUNE 20, 2023
This week's Warehouse Wednesday features an inventory solution you can see while attending 'Scaling New Heights 2023.
Going Concern
JUNE 22, 2023
Yesterday, Deloitte released a new report in collaboration with independent research firm Workplace Intelligence that tackles the important issue of employee well-being. Like the employees, employee well-being isn’t doing so great. To arrive at these conclusions, they conducted a survey in March 2023 among 3,100 employees, managers and C-level executives across the U.S., U.K., Canada and Australia.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Expert insights. Personalized for you.
98 
Let's personalize your content