This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Accounting operates within its own language, a system of terms and conventions that serve as the backbone of financial communication and analysis. Understanding this unique language is essential for interpreting financial data, making informed decisions, and effectively navigating the intricate world of business finance. Cash vs. Accrual Accounting Cash accounting records transactions only when cash changes hands, providing a real-time view of cash flow.
The non-fungible token (NFT) remains a sizzling commodity. These digitized assets denote ownership of such collectibles as sports cards and artwork, even designer digital footwear. Two signs of the size of the sizzle: The online NFT platform OpenSea claims to be worth more than $13 billion. Some NFTs alone on OpenSea have sold for millions and in recent years the average sales price of an NFT (an admittedly volatile commodity) jumped from about $150 to $4,000.
By Jo Constantz, Bloomberg News (TNS) Mistakes continued to pile up this earnings season in the wake of Lyft Inc.’s market-roiling typo : Planet Fitness Inc., Mister Car Wash Inc. and Rivian Automotive Inc. all had to correct their quarterly earnings statements. These types of errors shake investor confidence and in extreme cases can result in heavy fines from the U.S.
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to certain eligible small businesses. Claiming the credit involves complex calculations, which we’ll take care of for you. But in addition to the credit itself, be aware that there are two additional features that are especially favorable to small businesses: Eligible small businesses ($50 million or less in gross receipts for the three prior tax ye
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
Ashleigh Sutter explores the challenges of transitioning from bookkeeping to tax, offering insights on starting, gaining alignment, executing, and maintaining employee engagement during change.
When someone leaves, they need to be replaced and with that comes orientation, training, introduction to your systems and procedures and to your culture.
Jump to: Compliance and having multiple plans Possibility of retroactive changes IRS funding may help either way Some expiring provisions may be positive The back-to-office effect Potential impact of changes Ideal situation for advisors Changes may come “late in the game” The Tax Cuts and Jobs Act (TCJA; P.L. 115-97 ) of 2017 brought about significant changes to the U.S. tax system, including provisions affecting both individ
Jump to: Compliance and having multiple plans Possibility of retroactive changes IRS funding may help either way Some expiring provisions may be positive The back-to-office effect Potential impact of changes Ideal situation for advisors Changes may come “late in the game” The Tax Cuts and Jobs Act (TCJA; P.L. 115-97 ) of 2017 brought about significant changes to the U.S. tax system, including provisions affecting both individ
Our 2016 post on Accounts Receivable Fraud might seem “outdated” in the tech-heavy 2024 AI-assisted receivables world, but the principles are the same deep down: fraud happens. The bigger problem today is that all this technology makes the money disappear quicker and sometimes, harder to track and hidden more thoroughly. In response, you and your. The post Accounts Receivable Fraud: How to Stay One Step Ahead in 2024 appeared first on LSL CPAs.
Breaking news: Accountants aren’t robots—they’re human beings and sometimes they make mistakes at work. But a new survey from research and consulting firm Gartner finds that capacity constraints are the leading factor to more errors being made than usual in accounting and finance departments. The survey of 497 professionals working in the controllership function, conducted last July, revealed that 18% of accountants said they make financial errors at least daily, with a third making at least a f
Last week our calendars all marked a unique day that only comes about once every four years. Leap Day, February 29th, this day intends to sync the calendar with the solar year. It still has its affects tax planning, so discuss with clients.
From what to look for when hiring a Fractional CFO to when to make the hire, this article answers eight top questions we hear from startup founders. The post Hiring a Fractional CFO for Your Startup – Answers to Common Questions appeared first on Burkland.
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.
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax deductible, but they grow tax deferred. Earnings used to pay qualified education expenses can be withdrawn tax-free. However, earnings used for other purposes may be subject to income tax plus a 10% penalty.
In a surprise decision Friday night, a federal district court ruled that the Corporate Transparency Act (“CTA”) is unconstitutional, effectively placing the Beneficial Ownership Information (BOI) reporting on hold. By way of background, the CTA was enacted on January 1, 2021 as part of the 2021 National Defense Authorization Act as an attempt to prevent money laundering and tax evasion by requiring new reporting for certain companies doing business in the US.
By Leada Gore, al.com (TNS) The IRS has a warning that expenditures for general health and wellness aren’t considered medical expenses, regardless of some advertising claims to the contrary. In a bulletin issued “amid concerns about people being misled,” the IRS said personal expenses—things like food and general wellness purchases—are not deductible or reimbursable under health flexible spending or reimbursement arrangements, health savings accounts, or medical savings accounts.
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.
Business valuators sometimes consider major events that happen after the valuation date. For example, what if a business is subsequently sold, files for bankruptcy, discovers new technological advances, or experiences a major fraud loss, data breach or natural catastrophe? Such events could potentially affect a business’s fair market value, but whether a valuator will consider a particular event depends on the facts and circumstances of the valuation assignment.
There is a lot going on with the employee retention credit (ERC) these days and it can be hard to keep up with the latest developments. From Congressional proposals to changes in IRS procedures, change is afoot and more is expected in the near future. Below is a summary of the latest thoughts on various issues that are of interest to those who have already claimed the ERC or are about to claim the ERC.
Technical skills and a meticulous eye for detail have always been the bedrock of the accounting profession. Yet, amid the focus on balance sheets and financial analytics, there’s a vital element that’s often overlooked—Emotional Intelligence (EI). As we venture through the evolving landscape of modern business, the ability to adeptly navigate our own emotions and those of others has become indispensable for accountants looking to elevate their service beyond the numbers.
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.
If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax efficient since it’s taxable to you to the extent of your corporation’s “earnings and profits,” but it’s not deductible by the corporation. 5 different approaches Thankfully, there are some alternative methods that may allow you to withdraw cash from a corporation while avoiding dividend treatment.
In this episode of Cryptonomix, Mark Eckerle sits down with Seth Priebatsch, President at Groma, a full-service real estate development and management firm with a blockchain twist.
Per The Telegraph , Big 4 firms across the pond are now “banning” applicants from using ChatGPT and its equivalents to help with applications because they’re afraid AI tools “will help them cheat the system.” The irony. Big Four accountants have warned applicants not to use AI to complete applications or online assessments during the hiring process.
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.
If you operate your business in multiple locations (as with retail or restaurant chains), you face some extraordinary fraud-prevention challenges. After all, you can’t be everywhere at once. And the more locations you operate, the harder they are to monitor. Without the appropriate checks and balances in place, fraud losses in one store could threaten the health of your entire company.
An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power.
By Venus Wu and Crystal Li. In October 2023, California became the first state to pass regulations for reporting greenhouse gas emissions (GHGs). The regulations are outlined in two bills, the Climate Corporate Data Accountability Act (SB-253) and the Climate-Related Financial Risk Act (SB-261). These laws apply for both private and public U.S. companies that do business in California (not just those with a physical presence in California).
Marketing your construction business is crucial for its growth and success. You can use various strategies to promote your business, such as creating a website, networking, social media marketing, and advertising. Additionally, sponsoring events and collaborating with other companies can help you reach a wider audience. I understand how daunting it can feel for construction business owners like you; we've been there.
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.
Business bankruptcies increased 40.4%, from 13,481 to 18,926, from 2022 to 2023, according to statistics released by the Administrative Office of the U.S. Courts. Solvency opinions may help creditors determine whether a liquidating debtor can meet repayment obligations. They also may come into play in fraudulent conveyance, bankruptcy alter ego and due diligence actions.
A new survey by business accounting and management software maker BILL shows that small and mid-sized businesses believe innovative technology such as AI and automation are beneficial capabilities for their financial operations. The BILL 2024 State of Financial Automation Report shows they are looking to AI and automation to help them increase efficiency and empower them to redeploy staff to more strategic tasks that can foster innovation and growth.
The UN theme for International Women’s Day (IWD) this year is ‘Invest in women: Accelerate progress’. The lack of investment in gender equality measures is seen to be a human rights issue by the UN, and a cornerstone for building inclusive societies. Climate change, geopolitical conflicts and the current economic system exacerbate inequality and disproportionately impact women.
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.
We organize all of the trending information in your field so you don't have to. Join 237,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
130 
Let's personalize your content