Bharmal&Associates
AUGUST 28, 2020
All About Limited Liability Companies(LLC). LLC owners are called members. Single-member LLCs have one owner, although spouses who jointly own an LLC in a community property state can elect treatment as a single member LLC for federal income tax purposes. We will call LLCs with two or more members multimember LLCs. Key point: LLCs are not corporations.
PYMNTS
AUGUST 24, 2020
In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. The eCommerce conglomerate issued a press release late last week announcing its cooperation in the investigation and prosecution of the individuals charged by the United States Attorney's Office for the Southern District of New York.
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GrowthForceBlog
AUGUST 24, 2020
The old adage “work smarter, not harder” rings true. Burnout decreases productivity, and employees are no longer working efficiently. As a result, they are not working to their full potential and are falling short of outputs. No one wins. Workplace burnout has officially been recognized as a medical diagnosis by the World Health Organization. Described as “a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed,” this may not come as a surprise
SMBAccountant
AUGUST 26, 2020
Receipts, emails, contracts, timecards… the list of items a small business must maintain as documentation goes on and on! When a small business enters the world of government contracting, the risk associated with maintaining supporting documentation increases significantly. Not only must you have supporting documentation, but you must have the correct information recorded to PROVE a transaction exists, is compliant with all laws and regulations, and was recorded properly.
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.
Katz,Sapper&Miller
AUGUST 24, 2020
“Inspiring great people to do great things” is Katz, Sapper & Miller’s mission, and we’re honored to play a small part in helping clients across a wide variety of industries think big, bring their innovative ideas to life, and serve their communities and customers.
PYMNTS
AUGUST 27, 2020
Tens of thousands of stolen Fortnite accounts are being sold on the black market in a $1 billion a year trade, according to Bloomberg. The news outlet cited a report from Night Lion Security , which looks into companies' vulnerable points. It found that criminals are using automated tools to mass-check for Fortnite accounts from hordes of stolen identities from recent data breaches.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
SMBAccountant
AUGUST 26, 2020
Receipts, emails, contracts, timecards… the list of items a small business must maintain as documentation goes on and on! When a small business enters the world of government contracting, the risk associated with maintaining supporting documentation increases significantly. Not only must you have supporting documentation, but you must have the correct information recorded to PROVE a transaction exists, is compliant with all laws and regulations, and was recorded properly.
GrowthForceBlog
AUGUST 27, 2020
Most Nonprofits are using some type of dashboard to monitor and track their performance, but which metrics are actually helping you fulfill your mission ? Successful fundraising starts with knowing your numbers. In the latest episode of the Put Your Numbers To Work Podcast, GrowthForce CEO Stephen King, s at down for a discussion about successful fundraising with Roger Craver, Co- Founder of Donor Voice and Author of Retention Fundraising: The New Art and Science of Keeping Your Donors for Life.
PYMNTS
AUGUST 28, 2020
U.S. and Canadian banks are all but certain to cut personnel costs as the COVID-19 shock gives way to more long-term economic problems, even though the CEOs of some banks pledged this past spring to not lay off employees, per sources as reported by Reuters on Friday (Aug. 28). Industry experts cited by Reuters attribute their predictions to factors including low interest rates, credit problems among potential borrowers and efficiencies generated by work-from-home programs.
Katz,Sapper&Miller
AUGUST 28, 2020
As with all industries, the COVID-19 pandemic has affected the transportation industry in a number of ways. Among the flurry of changes over the past few months, trucking professionals should be aware of the many accounting and tax updates which may impact daily and long-term business operations.
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.
LSLCPAs
AUGUST 28, 2020
On Monday, Treasury and the SBA issued another Interim Final Rule. The Good News Owner-employees are treated less favorably than other employees when calculating potential loan forgiveness. For instance, in a 24-week covered period, a maximum of $20,833 in cash compensation may be included in payroll costs for an owner-employee. […]. The post Part IX – PPP Loan Forgiveness: Good News, Bad News, and Oh, What a Surprise.
CapataCPA
AUGUST 27, 2020
PPP Interim Final Rule: Owner-Employee Compensation and Eligible Nonpayroll CostsOn Monday, August 24, 2020, the Small Business Administration (SBA) and U.S. Treasury released an interim final rule that gave further guidance on the Payroll Protection Program (PPP) loan forgiveness for owner-employee compensation and eligible nonpayroll costs. The interim final rule states that owner-employees of C or.
PYMNTS
AUGUST 23, 2020
Goldman Sachs is pondering a $2 billion venture and growth fund that could boost its stature in the world of technology investing, sources told Bloomberg. The amount of the fund being $2 billion would make it one of the largest in the field, Bloomberg reported. It could help Goldman Sachs court bigger investors and investments. SoftBank 's Vision Fund has $100 billion, but otherwise, not many firms have investment funds in the billions.
Katz,Sapper&Miller
AUGUST 25, 2020
COVID-19 has disrupted businesses of all sizes and in every industry in ways that were unimaginable even six months ago. From rapid shifts in the customer experience to forced evolution of internal processes and procedures, no operational area has gone unscathed. Service organizations with System and Organization Controls (SOC) examinations should pay particularly close attention to the way these changes affect data security and internal controls.
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.
LSLCPAs
AUGUST 26, 2020
Understand the Difference and Check Your Needs at Least Annually LSL Partner Ron Stumpf Talks with Sandra Denisac, Vice President, CIC, at McGriff Insurance General vs. environmental liability Ron: What is the difference between general liability and environmental liability coverage? Sandra: It sounds like a general liability policy would […].
FraudFiles
AUGUST 28, 2020
This morning Herbalife (NYSE: HLF) was charged criminally for paying bribes to Chinese officials. The action is related to criminal liability under FCPA (U.S. Foreign Corrupt Practices Act). The company disclosed in an SEC filing today : Herbalife violated the books and records and internal controls provisions of the FCPA. The company will pay $123 million as a settlement with the SEC and DOJ, and this amount has been included in current liabilities on the June 30, 2020 financial statemetns.
PYMNTS
AUGUST 28, 2020
MGM Resorts International CEO William Hornbuckle delivered bad news to his 18,000 furloughed U.S. employees on Friday (Aug. 28): They will not be invited back to work. The Wall Street Journal reports that the layoffs represent 25 percent of the company’s pre-COVID workforce of 68,000, as the global travel slowdown continues to hurt the casino industry’s recovery from COVID-19.
PANALITIX
AUGUST 23, 2020
RESOURCES / ARTICLES. Business Advisory in a Post-COVID Environment: An Interview with Michael Burke. We covered a lot of ground in a recent interview with Panalitix client Michael Burke of Burke Raftery Chartered Accountants. Here are some excerpts. Michael’s Background. Michael started in audit with KPMG in Melbourne, Australia though he always planned to go into industry.
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.
LSLCPAs
AUGUST 24, 2020
Check these boxes. Stay vigilant. It’s interesting to think that not even six months ago, working from home was a benefit. With the COVID-19 pandemic, it’s a necessity. For that reason, it is even more essential to ensure safe security practices for the entire company. A remote workforce can present […]. The post 5 Cyber Security Musts for Your Remote Workforce appeared first on LSL CPAs.
FraudFiles
AUGUST 24, 2020
If you try to research fraud by millennials (those born between 1980 and 1994, currently 26-40 years old, also referred to as Gen Y), most everything you find will be about them being victims of fraud. It appears that millennials are the age group most likely to fall for financial scams, falling victim to consumer fraud twice as often as senior citizens.
PYMNTS
AUGUST 24, 2020
Trimble has announced new upgrades for its TMT Service Center and TMT Fleet Maintenance solutions, including faster payment options and more visibility, according to a press release. Renaldo Adler , industry principal of asset management for Trimble Transportation, said the new ideas are intended to bolster services for the new COVID-19-based environment for businesses.
PYMNTS
AUGUST 27, 2020
Some major New York City retail properties — including the shopping center at Hudson Yards — are only producing 50 percent of pre-pandemic rent, the CEO of major Big Apple landlord Related Cos. said Thursday (Aug. 27), according to CNBC. "Retail is obvious struggling," Jeff Blau said on CNBC's "Squawk Box." "We expect that will pick up post [re]opening.".
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.
PYMNTS
AUGUST 28, 2020
While a judge may not settle the dispute between Apple and Epic Games for months, the computer giant pulled the Fortnite maker’s games from the App Store on Friday (Aug. 28), 9to5Mac reported. Epic emailed its Fortnite players that the iOS and Mac versions of the game are blocked from receiving updates. The move comes amid a pending lawsuit against Apple by Epic.
PYMNTS
AUGUST 24, 2020
Businesses and consumers alike are increasingly tapping new digital offerings for their financial needs as the ongoing COVID-19 pandemic shifts banking practices. Financial institutions (FIs) worldwide are searching for solutions that can help them swiftly support customers, but this means many are becoming more aware of their legacy systems’ inadequacies.
PYMNTS
AUGUST 24, 2020
Not unlike squirrels storing nuts for winter, some companies saw the resilience of digital channels long before the cold weather arrived earlier this year, carrying COVID-19 and assorted ills with it. Take restaurant success story Chipotle Mexican Grill , the fast-casual giant whose Q2 financials show the line of demarcation between an analog past and a very definite digital-first future.
PYMNTS
AUGUST 24, 2020
Large, well-established companies were once seen as relatively insulated from disruptions wrought by Amazon, Netflix and other Silicon Valley giants. This was a doubtful proposition to begin with, but the COVID-19 pandemic has shaken such assumptions to the core, for companies both large and small. Corporates cannot expect to weather the economic and social changes taking place by virtue of their market clout and mastery of traditional supply chains and distribution channels.
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.
PYMNTS
AUGUST 24, 2020
Almost a third of renters in single-family or small multifamily properties couldn't make their August rent, according to CNBC , citing a survey by Avail , a tech and marketing platform for small landlords. The main reasons, the survey showed, were the same as they have been for months: the pandemic has left them without jobs or with reduced income. Missed rent payments have soared, rising 93 percent between March and May of this year as the pandemic wiped out jobs and kept people in their houses
PYMNTS
AUGUST 23, 2020
The pandemic has fueled the need for European banks to restructure following years of poor performance. The Wall Street Journal (WSJ) reports a majority of Europe's biggest financial institutions (FIs) are ending old business models, trimming unprofitable business lines, boosting profitable ones and finding a formula that works. For example, based on weak returns, the newspaper reports HSBC is planning to trim 15 percent of its workforce.
PYMNTS
AUGUST 28, 2020
It’s the end of another week and the end of a busy month. The PYMNTS Weekender is here to catch you up on the latest payments and commerce news. We have deep dives on retail’s digital D2C shift, blank-check companies, and DoorDash’s IPO plans. Top News. DoorDash Moves Ahead With Q4 IPO Plans. DoorDash , the San Francisco-based prepared food delivery service, is planning to go public by year’s end, after filing confidentially in February.
PYMNTS
AUGUST 24, 2020
Google 's cloud division is investing $100 million in Amwell , a telehealth operator preparing to go public, according to CNBC. The investment will come with Amwell transitioning some parts of its business away from Amazon Web Services and onto Google Cloud. Amwell will use Google as its "preferred global cloud partner," according to CNBC, and will move some of its video performance capabilities to Google.
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.
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