Sat.May 07, 2022 - Fri.May 13, 2022

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How Cash Flow Statements Help Experts Find Fraud

RogerRossmeisl

Many fraud investigations focus on financial statements. Because cash is the most commonly stolen business asset, fraud experts regularly scrutinize statements of cash flow for signs of misappropriation and fraudulent disbursements. If you suspect occupational fraud and request an investigation, here’s what the experts might find. Unusual changes Your statement of cash flows shows how cash changed during the year.

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5 Crucial Pieces of Your Sales Tax Compliance Filing Process

TaxConnex

Once you’ve determined your requirement to collect and remit sales tax, you’ve set-up a process to charge sales tax, and you have registered with each required state, you need to consider how you will manage the return filing process. Many automated solutions claim they manage this process for you, but when reading through these important aspects, you may realize you’re the one left still managing the heavy lifting and each one is very important to ensure accurate and on-time filings.

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The Top 22 Questions to Ask in an Accounting Interview

Ryan Lazanis

When it comes to finding the perfect accounting professionals for your accounting firm, make sure that you have the right questions to ask in an accounting interview in order to get a sense of their qualifications and experience. Asking questions is the best way to determine if a job prospect is truly right for the job description, and it can also help you get a sense of their experience and expertise.

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Financial Benchmarks for SaaS Startups, a Self-Assessment Tool

BurklandAssociates

One of the most frequent questions Burkland CFOs receive from our SaaS startup clients and their investors is, “how do we compare to other SaaS startups?” It is a good Read More. The post Financial Benchmarks for SaaS Startups, a Self-Assessment Tool appeared first on Burkland.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. It is not only time-consuming, but also takes lots of resources as the process can take from a few weeks to several months. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.

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What’s new: state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Florida sales tax exemptions on hurricane-preparedness items may soon encompass purchases of pet food, thanks to the lobbying of a local Girl Scout troop. Alabama ?has become the second state this year to expand its sales tax exemption involving gold and silver.

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Debits and Credits 101: Definitions & Example

Patriot Software

In accounting, there’s one thing you can’t ignore: how debits and credits work. To keep accurate books, you need to learn and understand the difference between a credit vs. debit. Otherwise, your books will wind up unbalanced and sloppy (and no business owner wants that!). To get to know debits and credits in accounting like […] READ MORE.

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Anders Named Finalist for the St. Louis Business Journal’s 2022 Corporate Philanthropy Award

Anders CPA

??????? ???????Anders has been named a finalist for the 2022 Corporate Philanthropy & Innovation in Philanthropy Awards in the Midsize Company category by the St. Louis Business Journal. This is the third year in which local partnerships are recognized for going above and beyond standard philanthropic practices in new and creative ways. Companies are selected based on those who gave the most in charitable contributions last year based on total cash and in-kind giving.

CPA 98
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EIDL Rapid Portal Closes May 16 – Download Your Loan Docs NOW

Nancy McClelland, LLC

We learned this week that the EIDL is permanently closing their Rapid Portal on May 16th. What does this mean for you? If you haven’t already, download a copy of your EIDL loan agreement documents, and snap a screenshot of your loan number and save it to PDF for easy reference. Your bookkeeper and accountant will thank you for this — and you’ll thank them for insisting you do it!

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Withum Welcomes Megan Budd

Withum

Withum is excited to welcome Megan Budd to the Firm’s Cannabis Sector Services Team as an Audit Principal. With over 16 years of experience, Megan’s industry expertise includes healthcare, not-for-profit and employee benefit plans, in addition to her specialty in the Cannabis sector. She will grow the Firm’s presence in the industry in the New England region, complementing the efforts of Withum’s Providence, RI office.

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Planning Your Restaurant's Path to Profitability

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.

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Patriot Announces Exclusive Partnership With Vestwell, Offering Affordable Retirement Plans for American Businesses

Patriot Software

Canton, OH Patriot Software, LLC, a leading accounting software and payroll provider, today announced an exclusive partnership with Vestwell to offer 401(k) plans with seamless payroll integration. Vestwell is the modern fintech engine powering savings and investment programs for small businesses and individual savers across the country. Patriot, powered by Vestwell, will offer 401(k) plans […] READ MORE.

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AccountingDepartment.com Chosen for 2022 Inc. Best Workplaces List

AccountingDepartment

It is our extreme honor and pleasure to announce that our company AccountingDepartment.com has been selected for inclusion in the 2022 Inc. Best Workplaces list. This award is truly the barometer of our success, and we are humbled to be recognized as a top workplace this year. Included in this honor are all our employees who make it such a wonderful place to be every day.

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What is Superfund? How to prepare and comply

ThomsonReuters

What is Superfund? After more than 25 years, excise taxes on a specified list of chemicals and imported hazardous substances in the U.S. have been reinstated through the passing of the Infrastructure Investment and Jobs Act signed into law on November 15, 2021. The excise taxes, effective July 1, 2022, and the complexities around how they are levied pose serious challenges for companies that import, manufacture, produce, sell, or use any of the 42 taxable chemicals, and 150 listed substances, i

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9 Strategies to Find Rock Star Talent

Ryan Lazanis

Finding a rock star talent is one of the biggest challenges of being a business owner. Curious to know how and where to find them? In this podcast episode, I’ve shared my 9 best strategies so you can hire the right team member for your firm. Listen below. 0:46 – My first strategy is to leverage my existing team by asking them first if they know anyone for the new role. 1:28 – The second strategy is to create LinkedIn and Indeed job postings. 1:46 – The third strategy is to sea

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Study: Clients Want Accountants Who Use the Latest Technology | Canopy

Canopy Accounting

As accountants, you know the importance of client satisfaction—they are the backbone of your business after all. Wouldn’t it be nice to know what was going on inside their heads? Thanks to new research you can! Canopy commissioned a study that examines accounting client expectations.

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Back In My Day, Accountants Had to Walk Uphill Both Ways In the Hot Sun to Get to Work, Says Crotchety Old British Guy

Going Concern

British businessman, entrepreneur, and media person Lord Alan Sugar thinks employees of the Queen’s PwC are a bunch of “lazy gits [that] make me sick” for being allowed to take Friday afternoons off this summer. This is a bloody joke. The lazy gits make me sick. Call me old fashioned but all this work from home BS is a total joke. There is no way people work as hard or productive as when they had to turn up at a work location.

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More Than You Think: The Cost of Employee Turnover

GrowthForceBlog

8 min read. The effects of the Great Resignation have left many companies in the lurch with productivity stymied while they struggle to fill open positions and smooth out operations while they function short-handed.

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Tips To Stay Current on Your Bookkeeping

AccountingDepartment

You load up your Quickbooks file. It's back in January? But that was six months ago! Running a business takes a lot of time. It's easy to fall behind on things like bookkeeping. It's much worse if you're also falling behind on things like vendor payments and tax filings.

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No-Code Technology: The Key to Unlock the Future of Your Business

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.

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Types of Trusts

KROST

In the last article in our series , we covered the benefits a trust offers for creators and beneficiaries. In this article, we’ll dive into more detail about the types of trusts that can be established and the pros and cons. Types of Trusts. Revocable Trusts. Revocable trusts (living trusts) can be changed or canceled at any time by the grantor (trustor, creator), who often acts as the initial trustee.

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Things Are Getting Spicy Between PwC UK Employees and Lord Sugar

Going Concern

After being called “lazy gits” in a tweet last Friday by British businessman, entrepreneur, and TV show host Lord Alan Sugar, who reacted negatively to PwC UK announcing that it would allow employees to take Friday afternoons off from June to the end of August, we were curious to see if any PwCers across the pond would respond to Lord Sugar’s rant. While the firm hasn’t responded, a handful of PwC employees have on LinkedIn.

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Xero’s full year 2022 financial results

Xero

Today we announced Xero’s full year financial and operating results to 31 March 2022 (FY22). Our strong financial result reflects the benefits of Xero’s commitment to invest for the long-term to support our strategy and focus on current and future customer needs. In FY22, Xero grew operating revenue 29%, and exceeded the milestone of a billion dollars for the first time to reach $1.1 billion.

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How to Calculate Net Pay for Payroll

Patriot Software

Employee salary: $50,000 a year. But you know that’s not what they’re walking away with. Between taxes and benefit deductions, the employee’s take-home pay could be far from the $50,000 sticker price (cue the sad violin). To find their take-home pay, you need to know how to calculate net pay. After all, you want to […] READ MORE.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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A SOC 2 To Satisfy?

Withum

As organizations rely more and more on vendors, undergoing a Service Organization Control examination resulting in a SOC 2 report can help real estate service providers demonstrate security strength. The risks associated with using third parties continue to evolve, with multiple hands touching data from its origination point to its final destination.

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Compensation Watch ’22: Big 4 Firm With the Most Negative Publicity In the U.K. Tries to Change All That By Giving Staff Raises of At Least £2,000

Going Concern

If you’re a regular visitor to this website, it shouldn’t be too hard to figure out which Big 4 firm we’re referring to: Carillion, loads of fines from the Financial Reporting Council, chairman’s rant leads to his resignation, Carillion, “unacceptable” bank audits, partners who are bullies, lawsuits, and layoffs. And did we mention Carillion? Yes, of course, it’s KPMG.

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Xero Small Business Spotlight: Black Business and Professional Association (BBPA)

Xero

We’re shining a spotlight on the Black Business and Professional Association (BBPA), a non-profit, charitable organization formed in 1983 with the goal of addressing equity and opportunity for the Black community in business, employment, education and economic development. We chat with Ross Cadastre, President of BBPA, who shares their journey on advancing Black communities and the fulfilling moments that remind them of the impact they are making in developing and providing opportunity for Black

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Three Financial Statements Skagit County SMBs Need To Get Right

SkagitCountyTaxServices

If you’re a successful Skagit County business owner in this high-pressure time, you’ve learned to master the art of the pivot. Pivot on pricing, pivot on operations, pivot on hiring, pivot on supply, pivot on financials… Successfully pulling it off is impressive – really. As someone who works closely with a LOT of SMB owners, believe me, I know that it ain’t easy.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Hot Topics in the Multiemployer Benefits World Podcast

Withum

Available Episodes. Episode 1: What’s Next for the DOL’s Cybersecurity Guidance? Episode 1: What’s Next for the DOL’s Cybersecurity Guidance? Listen in as Aaron Slaughter and Dave Dorsey discuss the Department of Labor’s guidance for employee benefit plans and best practices for cybersecurity programs. Aaron and Dave will break down the policy and actionable items to improve the Plan’s cybersecurity program.

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Overcoming Your Most Common Construction Business Time Waster

Randal DeHart

Every day you make financial decisions about your company, which affect how successful and sustainable your construction business is. If you're responsible for the bookkeeping and all the paper management (bills, receipts, estimates, invoices), you could be making errors that affect your decisions. Because of an incorrect decimal place, you may think that you have more money in the bank than you do.

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Managing Company Culture in a Hybrid World

GrowthForceBlog

7 min read. When the pandemic hit, we went from a world of emotional connection to a world of disconnection in an instant, and as a result, the question that has been on the mind of every CEO over the last two years has been: How do you maintain your workplace culture in a hybrid world?

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What Is a Highly Compensated Employee?

Patriot Software

If your company offers retirement plan options, you have to ensure each employee can benefit equally from the plan. To do this, you must consider who is a highly compensated employee (HCE). Not familiar with highly compensated employees? No worries—we’ll go over the HCE definition, how to determine who is classified as a highly compensated […] READ MORE.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.