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By Cameron White. Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. Deloitte ranks the talent shortage among the top challenges that are expected to influence or disrupt businesses this year. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.
Cash flow is the lifeblood of any business, and managing it properly is crucial for success. While many businesses focus on generating revenue, it's equally important to maintain positive cash flow to ensure that operations can continue smoothly. In this article, we'll discuss some cash flow best practices that businesses should consider implementing to be more successful.
Menzies LLP - A leading chartered accountancy firm. As we settle into the first quarter of 2023 businesses are feeling the pressure, and some owner managers may have to face a cashflow crisis. Due to the significant increase in the cost of living, in addition to the higher interest rates and inflation many consumers have had to tighten their purse strings, which is resulting in a negative knock-on effect on businesses.
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.
One of the accountants I mentor has long been proud of how efficiently they look after their own business affairs. Others though are embarrassed at their inefficiencies. And there are some who do not appear to give any thought as to how they are perceived. Some of the accountants in this category may, unintentionally, be undermining their credibility.
Across industries we’re seeing a fierce competition to attract and retain talent. But some are battling more than others… The accounting industry has seen large scale turnover with the Association of Certified Chartered Accountants finding that 44% of surveyed accountants expected to move to their next role in a 12-month timeframe. Any business will know how hard it is keeping up the same level production when you’re down an employee, but have you ever done the math?
Across industries we’re seeing a fierce competition to attract and retain talent. But some are battling more than others… The accounting industry has seen large scale turnover with the Association of Certified Chartered Accountants finding that 44% of surveyed accountants expected to move to their next role in a 12-month timeframe. Any business will know how hard it is keeping up the same level production when you’re down an employee, but have you ever done the math?
7 min read Automation is one of the biggest disruptors in any industry, and it would seem that artificial intelligence (AI) sy stems like ChatGPT are setting out to automate everything from painting portraits, writing poems, and composing hit songs to writing computer programs, giving financial management advice, and filing your taxes.
‘Tis the season. As the days get longer and the weather gets warmer, it’s time to undertake the annual chore of spring cleaning. This doesn’t just apply to your abode. Employing a spring cleaning mentality at your startup — especially when it comes to your books — can do a lot to help you thrive in the rest of 2023 and beyond. In fact, giving your bookkeeping a spring clean could be the key that unlocks success in your next rounds of fundraising.
As appearing in IRS Newswire IR-2023-64 The Internal Revenue Service just issued a proposed regulation related to certain requirements that must be met for critical minerals and battery components for the new clean vehicle credit. The Inflation Reduction Act (IRA) allows a maximum credit of $7,500 per vehicle, consisting of $3,750 in the case of a vehicle that meets certain requirements relating to critical minerals and $3,750 in the case of a vehicle that meets certain requirements relating to
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.
Accrual accounting generates a more accurate long-term financial picture, is required for GAAP, and is what prospective investors and lenders expect to see. The post Cash vs. Accrual Accounting for Startups: Which is Best? appeared first on Burkland.
By Cameron White. Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. Deloitte ranks the talent shortage among the top challenges that are expected to influence or disrupt businesses this year. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.
The 2018 Supreme Court Wayfair decision gave us a bright line standard for determining sales tax nexus: Generate a set amount of revenue in a state in a set amount of time and your company has to collect and remit the applicable sales tax. Seems clear. However, companies still must deal with the ambiguous physical presence standards as well as the varying taxability rules from state to state.
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut their taxes. However, in order to be deductible, advertising and marketing expenses must be “ordinary and necessary.” As one taxpayer recently learned in U.S. Tax Court, not all expenses are eligible.
TL;DR: In the wake of a banking crisis, cyberattacks are on the rise, especially relating to change of accounts. Vigilance and careful practices are the first and most important lines of defense. The transaction software you use for payables is key to identifying and thwarting attacks. Airbase provides additional levels of security that can be especially helpful in this environment.
By Andrew Antos, Co-founder and CEO of Klarity. If you’ve been following recent news in even the most cursory fashion there’s a good chance you’ve heard about ChatGPT, the Large Language Model (LLM) technology that’s primed to revolutionize business operations. It’s an innovation that holds such disruptive promise that it has already begun to impact long-standing industries and left more than a few big incumbents spinning.
You just got notice of a sales tax audit. What now? Ideally, you’ve done your homework and put in place processes to comply in those jurisdictions where you have nexus for sales tax purposes. And not ideally? Wherever you are in your sales tax compliance, these steps will help your audit process run smoother. Don’t take it personally Our third annual survey of financial professionals showed that although most companies (67%) reported that state sales tax audits have remained at the same level ov
Small business owners often find themselves juggling multiple responsibilities, from managing employees to overseeing operations to marketing and sales. Amidst all these demands, managing finances can easily become overwhelming, especially for those who lack a strong financial background. That’s where an accountant (EA or CPA) can help. A Los Angeles, CA accountant can provide essential financial expertise and support to small business owners, helping them make informed decisions and manag
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.
Up north, the Canadian equivalent of the PCAOB has said that audit quality in America’s hat is on the decline and that the level of significant findings at non-annually inspected firms is “concerning.” This is per the Canadian Public Accountability Board’s 2022 Annual Report [ PDF ]. The Globe and Mail reports : Problematic audits are on the rise at Canada’s accounting firms, according to the industry’s national regulator, which found issues in a third of the audits it ex
The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest. “Taxpayers should choose their return preparer wisely and remain vigilant against unscrupulous preparers, who often present clients with refunds that are too good to be true,” said Deputy Assista
If you ever worked with Office 97, you’ll remember Microsoft’s iconic assistant Clippy. The animated AI-based paperclip would pop up in your document and offer to help you format whatever you were working on. Clippy would analyse and structure words in your document and help you format it according to what you were working on. For example, if anything vaguely resembled a resume, you would be prompted with: “It looks like you’re writing a resume!
Explore Other Episodes #CivicWarriors #WithumImpact The post Volunteering and Campaigning for a Great Cause With The Leukemia & Lymphoma Society appeared first on Withum.
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.
Last August, Australian Financial Review reported that eleven people had been “exited” (tossed, kicked out, told to F off, however you prefer to phrase it) from KPMG Australia for misconduct including bullying, sexual harassment and policy breaches in the past year; during the same period, internal misconduct complaints doubled to 88. This may have been due in part to the firm purposely Before that, AFR dug deeper into misconduct complaints at the firm from 2014 and 2019 and reveal
By Richard Tribou, Orlando Sentinel (via TNS). Humans haven’t traveled beyond low-Earth orbit in more than 50 years, but that’s set to change with the launch of the Artemis II mission to orbit the moon next year with four passengers on board. Just who will be flying was revealed today. NASA and the Canadian Space Agency named the four astronauts that will climb aboard the Orion spacecraft to be launched atop the Space Launch System rocket from Kennedy Space Center as early as November 2024.
Shark Wheel is a Southern California wheel company that is literally reinventing the wheel. They have produced a new type of a 540° sine wave-shaped wheel that outperforms the traditional wheel in almost every use – from skateboarding and roller skates through to luggage, forklift wheels and tractor tires. The latest breakthrough Shark Wheel has had is with its new farming wheel – the company has signed a major deal with Bridgestone-Firestone, the world’s largest tire manufacturer.
The Dancing Accountant, Nancy McClelland, gives you the lowdown on the IRS account transcript, a tool you can download for free to check your finances. Jump over to our sister site, Tax Practice News, to learn more.
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.
A few weeks back we wrote up EY Australia’s Space Hub and its impressive new ex-NASA hire. This week, we’ve learned that Deloitte has its own big plans for space. In an April 4 press release , Deloitte announced a formal space practice “to connect organizations in rapidly growing global space ecosystem.” That’s obviously a direct quote from the release.
The Internal Revenue Service has unveiled its Strategic Operating Plan , an effort the agency says will to transform the IRS and dramatically improve service to taxpayers and the nation during the next decade. The 150-page report to the Secretary of the Treasury outlines the agency’s historic plans to make fundamental changes following funding from last year’s Inflation Reduction Act.
Reports: We’ve introduced a new Journal report that has the features you love from the older version, with additional functionality including convenience dates, customised columns, filters and more. Reports: A new version of the General Ledger Summary report is now available. You can drill down into the General Ledger Detail report , choose which accounts to show, customise columns and more.
Shopify now is Intuit's Preferred Solution for a POS solution that integrates with QuickBooks Desktop. Learn more about the solution and the special bonus bundle available to migrating QB-POS customers.
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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