Sat.Jun 25, 2022 - Fri.Jul 01, 2022

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Understanding Accounts Receivable (AR): Accounting Basics You Need to Know

Snyder

However big or small your business is, you’re familiar with the notions of accounts receivable and accounts payable as integral parts of accounting. These two ledger lists are available on your balance sheet and indicate how well your business is performing. They act as two sides of an equation – if you neglect either side, it will affect the financial health and stability of your venture.

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Who’s Smarter, Big 4 Accountants or Industry Accountants? A Debate

Going Concern

Yesterday we retweeted an observation about how the smartest people work at Big 4 firms hoping for some good discussion and discussion did in fact ensue. Decent discussion, actually. It warms my cold black heart to know that at least in our little corner of the internet people with differing opinions are still capable of having a healthy conversation among themselves.

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Blog: The 'XYZ Letter' and your sales tax compliance

TaxConnex

Complying with your sales tax obligations involves a lot of variables – your nexus, taxability of your products, type of customer you are selling to, etc. Another key factor that effects your sales tax obligations is related to exempt transactions and exemption certificates. Exemptions are statutory exceptions eliminating the need for the retailer to collect sales tax on a particular transaction or on all transactions with a customer.

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IRS Releases Updated Cost Segregation Audit Techniques Guide

RogerRossmeisl

On 6/1/22, the IRS made available an update to the “Cost Segregation Audit Techniques Guide” (Publication 5653). Originally issued in 2004, the purpose of the Audit Techniques Guide (ATG) was to offer guidance to IRS auditors auditing cost segregation studies. Because the ATG is an interpretation of the law, as opposed to the law itself, it cannot be cited as precedent.

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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EY pays $100M SEC fine over CPA ethics exam cheaters

Accounting Today

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Tax Preparation Expert in Santa Fe Springs, California

MyIRSRelief

Are you in need of a tax preparation expert in Santa Fe Springs? More than enabling your problem to grow and acquire more fees, penalties and fines, we can help you with your business bookkeeping and tax preparation needs. We are a firm with experts in auditing and resolving IRS issues, we can help you find solutions to your tax problems. You need an expert in tax preparation services in Santa Fe Springs in California to enable your business to find the appropriate tax resolution and get help.

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Acterys Recognized as a Top-Rated Vendor in 2022 BPM Pulse Research

Acterys

We have done it again. Acterys has been included in the Top-Rated Performance Management Vendors for 2022 by BPM Partners. Last year, Acterys entered the ring as the Best New Vendor in the Annual BPM Pulse Awards 2021. Acterys is now a returning champion securing an overall Excellent 4.6 rating for overall customer satisfaction and a whopping 94% user recommendation rate.

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Improve Your SaaS Gross Margin

BurklandAssociates

Gross margin is a critical metric for SaaS startups to measure and improve. Low margins aren’t healthy or sustainable for most SaaS companies, and gross margin is one of the Read More. The post Improve Your SaaS Gross Margin appeared first on Burkland.

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Tax Roundup

Withum

There is a lot going on regarding taxes these days. For starters, Democrats are still trying to pass a smaller version of Build Back Better (BBB), the legislation that stalled in Congress last year. Senate Majority Leader Chuck Schumer and Senator Joe Manchin from West Virginia are leading the discussions because Sen. Manchin’s buy-in will be essential to passage of any tax legislation.

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Focusing on the employee experience in 2022

Accounting Today

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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How Exactly Did EY Auditors Cheat on CPE Exams? Details From the SEC Order

Going Concern

With the EY cheating scandal making headlines even outside of our precious little accountosphere we decided to take a look at the full SEC order to answer the question — how and why were EY auditors cheating on CPE exams? This post will be long so we’ll get deeper into the CPA ethics portion of the cheating debacle in another article. The long and short of it is, EY auditors trying to shortcut CPE took advantage of a software exploit.

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Three things you might not know about Making Tax Digital for VAT

Xero

If you’re a VAT-registered small business owner, you may have heard the soft thwump of a letter landing on your doormat this past week, emblazoned with four familiar letters: HMRC. That’s right, it’s time for a gentle nudge/firm reminder that your business must now comply with government legislation Making Tax Digital (MTD) for VAT. . Part of a wider government initiative to simplify the tax system and make it easier for taxpayers to get it right, MTD for VAT requires affected individuals and bu

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The Importance of a Month-End Close Process

Withum

Now that we are halfway through the new year, most companies have wrapped up their books and records for 2021 and sent them to their accounting professionals for tax and audit preparation. While the inclination can often be to consider the cleanup of accounting records to be an annual process, there are real benefits to a business in having a month-end close process.

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More than half of workers are at least partially remote

Accounting Today

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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How Financial Planning Will Lead to More Business

Accounting Web

Clients How Financial Planning Will Lead to More Business.

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Latest product news — July 2022

Xero

Our teams have been busy adding lots of value across our platform over the past month, including enhancements to Hubdoc, short-term cash flow, tax updates in the UK and more. We’re also getting some fantastic feedback on our latest features in new reports — especially sticky headers and report annotations. If you haven’t tried new reports yet, it’s a great time to give them a go.

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Withum Named 10 Most Promising Enterprise Resource Planning Consulting/Services Companies by CIOReview

Withum

Withum’s Enterprise Resource Planning (ERP) and Management Consulting Services Teams were featured by CIOReview as the cover story and named one of the 10 Most Promising Enterprise Resource Planning Consulting/Services Companies in the publication’s Special ERP Issue in June 2022. Withum assists enterprises in deriving the best value from their ERP systems and add-ons– from ERP implementation strategy to application optimization and support.

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Elon Musk has a clear work-from-home policy

Accounting Today

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Which Firm Had the Most IPO Audit Clients In Q1 2022?

Going Concern

The hardworking human beings at Audit Analytics have released their analysis of initial public offering trends and IPO auditor market share for the first quarter of this year , a period in which the number of companies going public was minuscule compared to Q1 of 2021. All told there were 84 IPOs on the New York Stock Exchange and Nasdaq between Jan. 1 and March 31, raising a total of $11.3 billion, compared to the 407 IPOs in the first quarter of 2021 , which raised nearly $134.7 billion.

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QBO Monday Minute: That's a Wrap

Intuitive Accountant

As we say goodbye to this year’s ‘Scaling New Heights,’ Liz Scott looks at the conference’s common goals, technology solutions, education, and even germs.

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The Certified Payroll Professional Corner: Penalties

ThomsonReuters

In our last edition of the Certified Payroll Professional (CPP) Corner, we talked about overtime. Important overtime happenings. As mentioned in the last edition, the U.S. Supreme Court has agreed to decide whether a supervisor of offshore oil rig workers is entitled to overtime pay under federal law even though he earned more than $200,000 a year [ Helix Energy Solutions Group Inc v.

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Supreme Court to settle FBAR penalty controversy

Accounting Today

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

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.

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Would Whoever Is Leaving Accounting Textbooks in the Little Free Library Please Stop Immediately?

Going Concern

What kind of monster does this?! via r/accounting. That very edition — published in 2008 — is going for $50 used on Amazon and people have left reviews for it as recently as last year. This find could be a score for the right person! Is leaving accounting textbooks a nefarious plot to scare even more people away from accounting ? Hmmm… The post Would Whoever Is Leaving Accounting Textbooks in the Little Free Library Please Stop Immediately?

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Anders Announces 2022 Promotions

Anders CPA

Anders recently announced annual employee promotions across the firm, from audit and assurance to tax, advisory and operations. These individuals are being recognized for their professional achievements and ability to live the firm’s core values by delivering outstanding results for our clients and community. Join us in congratulating our recently promoted employees!

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Tips for Solo Virtual Bookkeeping Success

Accounting Web

Practice Excellence Tips for Solo Virtual Bookkeeping Success.

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EY denies audit firm split tied to $100M SEC penalty

Accounting Today

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

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Let’s Bid EY U.S. Chair Kelly Grier a Fond Going Concern Farewell

Going Concern

Today is Kelly Grier’s last day building a better working world. So in honor of her retirement, we wanted to take a look back at KG’s career at EY, especially the last four years as the firm’s U.S. chair and managing partner and Americas managing partner, and all the fun Kelly Grier moments (fun for us, not so much for her) we decided to write about.

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What Are Health Plan MRF Disclosures, and How Often Do They Have to Be Updated?

ThomsonReuters

QUESTION: We’ve heard that our company’s group health plan must make public transparency disclosures that include MRFs. What are MRFs, and how often do they have to be updated? ANSWER: The agencies use the acronym “MRF” to refer to the machine-readable files that must be made public as part of the ACA’s price transparency requirement. Under implementing regulations issued in November 2020, most health plans and insurers in the individual and group markets must make transparency in coverage (Ti

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Why Accountants Should be Using Design Thinking

Accounting Web

Growth Why Accountants Should be Using Design Thinking.

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Senate committee searches for Wayfair remedy for small biz

Accounting Today

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How To Overcome Change Fatigue In Finance With Neuroscience-Backed Strategies

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.