Going Concern
APRIL 19, 2023
Psst. Hey, you. Yeah, you. We are speaking on behalf of the universe with a message for you: You are not charging enough. Honestly, we could just end the article here but there are minimum word counts to hit so in a moment we’re going to give you a few reasons why you need to raise your fees, though you don’t need them. Crazy concept, right? You can just raise your fees.
CPA Practice
APRIL 19, 2023
By Ben Sherry, Inc. (TNS) If you don’t think that maintaining your financial records and transactions is a vital part of your life as an entrepreneur, just look at FTX. In a recently released report by the once-lauded cryptocurrency exchange’s debtors, newly installed FTX CEO John J. Ray III laid out how a lack of financial and accounting controls helped to doom the company.
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Canopy Accounting
APRIL 20, 2023
Whether it’s to save money, increase productivity, or help the environment, many business owners are taking a serious look at going paperless. Going paperless is not that difficult to do and in the long run, it’s certainly better for your accounting firm’s bottom line. If you are interested in transforming your firm into a paperless office, there’s no better time to start.
Going Concern
APRIL 20, 2023
These days there is a lot of yapping about what AI can and can’t do; it CAN answer bar exam questions so well it’s nearly in the 90th percentile of test-takers , it CAN’T search in real time to find up-to-date answers beyond what it’s been trained on so it won’t be getting stuck in a late-night Wikipedia hole any time soon.
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Accounting Insight
APRIL 17, 2023
Payroll Year End is nearly upon us. This year, the deadline for submitting your Full Payment Submission (FPS) and/or Employer Payment Submission (EPS) is April 19 th , so now it’s time to get your information completed. After grappling with the cost of doing business challenges, small and medium businesses everywhere will likely find the payroll process is more complex than normal.
ThomsonReuters
APRIL 19, 2023
The accounting and audit profession is undergoing significant changes as a result of the rapid advancement of technology. While some have expressed concerns that automation may replace human auditors, the reality is that technology is here to enhance the profession rather than replace it. Automation tools can help streamline processes , reduce inefficiencies, and free up human auditors to focus on higher-value tasks.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Summit CPA
APRIL 19, 2023
How a Business Operating System Benefits Digital Agencies When you’re trying to grow your business, or even solve a management issue, there are a few serious ways you can go about it. If you’re a DIY kind of leader, you can read a book (and there are some great ones out there). Or if you’re looking for outside expertise, you can hire a consultant (and there are some great ones out there).
Patriot Software
APRIL 19, 2023
Does this sound familiar? You ask an employee to run a few errands for the office. They end up with a $10.79 coffee shop bill, $56.99 at the office supply store, and $25.28 at a local pizza joint. Sure, you plan to repay them. But how much do you know about employee expense reimbursement?
AccountingDepartment
APRIL 18, 2023
Opportunity cost is a concept in business that refers to the value of the best alternative forgone in order to pursue a certain action or decision. It is a crucial element to consider when evaluating the benefits and drawbacks of various options, particularly in business.
SMBAccountant
APRIL 21, 2023
The past few years have forced many small businesses to face issues with the supply chain that they had previously never considered. Even the most prudent risk manager couldn’t have anticipated the far-reaching impact that the pandemic had on nearly every aspect of life. These new challenges have changed purchasing habits for many small businesses and as things start to return to normal, practices, such as inventory may need to be reevaluated.
Speaker: James Kahler, COO of Full Course
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
BurklandAssociates
APRIL 20, 2023
Revenue-based financing can provide the working capital your startup needs between equity rounds without exchanging an ownership stake or giving up control. The post Revenue-Based Financing for Startups appeared first on Burkland.
TaxConnex
APRIL 20, 2023
If you refer to “filing taxes” most people think of income tax with its annual filing requirement. State sales tax is another beast altogether, with a dizzying number of deadlines – and, potentially, serious consequences for missing one. Intensifying problem? Our third annual survey of financial professionals across various industries showed that many face sales tax challenges related to these filing deadlines.
Airbase
APRIL 18, 2023
The rapidly evolving spend management market is once again experiencing a breakout moment. As the category leader and pioneer, Airbase is the first and only spend management platform to now offer Guided Procurement — intake functionality for all purchasing. This innovation expands the capabilities of spend management to include the beginning of the purchasing lifecycle, as employees first enter a request to spend company money.
CPA Practice
APRIL 17, 2023
While the economy and supply chains may still have some hiccups related to the end of the pandemic, one thing is clear: The demand for the services of accounting, finance and tax professionals is growing strong. Unfortunately, there’s also a “critical talent shortage,” says Tom Hood, CPA, a vice president with the AICPA. ( [link] ). During the pandemic and since, however, accounting professionals and firms have implemented many new technologies that are helping them provide more and better clien
Speaker: Jamie Eagan
As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of
Going Concern
APRIL 17, 2023
Well we knew this was coming. Reuters : Ernst & Young’s U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit’s objection torpedoed the global accounting giant’s plan to break up its audit and consulting units. The layoffs will affect around 3,000 of the company’s U.S. employees. The decision was taken after assessing the impact of current economic conditions, strong employee retention rates and “overcapacity” in part
Xero
APRIL 16, 2023
Since he was young, Johnno Green has had a penchant for construction. So one day when a guest speaker at his high school came looking for apprentice plasterers, he knew he’d found his break. Johnno cut his teeth working on residential builds before the Global Financial Crisis hit the housing market (and his employers), forcing a pivot into the commercial sector.
ThomsonReuters
APRIL 18, 2023
For business owners, payroll is complex and often their greatest expense. For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. Payroll errors are certainly a real concern, but with the right tools and resources in place, payroll services can be a growth opportunity for firms. Today’s global workforce, remote and hybrid work environments, and the ever-changing regulatory landscape have added additional layers of complexity to payroll.
CPA Practice
APRIL 19, 2023
As a leader in your firm, you likely have ambitious goals to impact your clients’ bottom lines and grow your firm. But to reach those objectives, you need a team, and that’s becoming increasingly difficult to find if you’re hiring accountants. According to Caseware’s 2023 State of Accounting Firms Trend Report , more than 90% of accountants and 95% of auditors find hiring skilled talent challenging.
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Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.
Going Concern
APRIL 19, 2023
Vault has announced its much-loved Accounting 25 list today and it should come as no surprise that PwC has once again topped the list, making it 11 years in a row at the top for P. Dubs. Congrats to them for holding down the throne. While prestige is the most important factor in the Vault Accounting 25 ranking formula, the 11,000 accounting professionals surveyed also value the following factors: firm culture, type of work, location, work/life balance, compensation, business outlook, and trainin
Xero
APRIL 16, 2023
More and more businesses are focusing on sustainability, and for good reason. Not only do many small business owners personally feel it’s important to play a role in protecting the environment, doing so is proven to have a positive impact on their bottom line. We understand that taking the first steps toward sustainability in your business can feel overwhelming.
Canopy Accounting
APRIL 21, 2023
If you've spent any time near a screen lately, you’ve heard of ChatGPT — a language model trained by OpenAI. Every day, a new thread appears of someone who has figured out the next thing ChatGPT can do. With the evolution of AI and OpenAI-based architecture, almost every industry must decide how to incorporate AI into their work models, including ours.
CPA Practice
APRIL 21, 2023
Rethinking Succession: The Unconventional Choice It’s human nature to surround ourselves with people who are similar to us, after all who could be better than you but another you? When tasked with choosing a successor for your current role, whether as a partner at a firm, running your own practice, CFO, or any other position, the idea of finding a Mini-Me might feel comforting.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
ThomsonReuters
APRIL 20, 2023
QUESTION: Next year, we plan to amend our company’s cafeteria plan to add a health FSA under which participants elect a coverage amount for the year and pay for it with pre-tax salary reductions. There will be no employer contributions, so participants’ health FSA salary reductions will equal the elected annual coverage amount. The health FSA will be offered to all employees who are eligible for coverage under our major medical, dental, and vision plans.
Going Concern
APRIL 21, 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. Big 4 EY Confronts Slowing Growth After Breakup Deal Fails [ Wall Street Journal ] Read this whole thing because it’s hilarous(ly awful for EY).
IgniteSpot
APRIL 16, 2023
The Difficulties in Finding New Talent Few kids say, “I want to be an accountant when I grow up!” It’s usually something that sounds exciting instead. Doctor. Lawyer. Superman. And so-called “old dogs” eventually have to hang up their hats too. But all of this forms a picture of why it’s hard to find accounting talent.
CPA Practice
APRIL 21, 2023
By Kyle Stock, Bloomberg News (TNS) Americans love a Ford pickup truck; it’s one of the few constants of the car business. So it was a huge win on Tuesday when Ford’s F-150 Lightning became one of just 10 vehicles to qualify for the full $7,500 in tax breaks laid out by the Inflation Reduction Act. Dozens of other electric cars and trucks didn’t make the cut, either because they aren’t manufactured in the U.S. or don’t use American parts and pieces.
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ThomsonReuters
APRIL 20, 2023
FAQs About Affordable Care Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 59 (Apr. 13, 2023) Available at [link] The DOL, HHS, and IRS have jointly issued FAQs (Part 59) addressing the impact of the recent court decision in Braidwood Management Inc. v. Becerra on the requirement to cover certain preventive health services without cost-sharing.
Going Concern
APRIL 18, 2023
Yesterday the PwC return to office plan set to be announced May 3 and take effect after the firmwide summer break was all but confirmed and in a discussion about it I came across this: Therese are nothing when compared to Deloitte’s planned RTO announcement which has a tentative announcement date of the Tuesday after Memorial Day. 75% in office for tax, and 100% in office for those below manager without engagement partner approval to work from home.
Xero
APRIL 16, 2023
When we look at a technology that has massive future potential, while already sitting firmly in the here and now, it’s hard to go past e-invoicing. The ability to send and receive invoices directly between accounting systems (and eliminate the need for manual, error-prone PDFs sent via email) offers some very exciting benefits. E-invoicing is in various stages of adoption around the world, with some governments either mandating or supporting it as a core part of the invoicing process.
CPA Practice
APRIL 19, 2023
By Rick Dennen. Leadership transitions in accounting practices happen for many reasons, including retirements, resignations, deaths, buyouts, or simply having a new partner leading the practice, yet owners often put off planning for these types of changes. The time for transition will come, though, and when it does, you’ll want to hand over the reins smoothly.
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