Going Concern

DECEMBER 1, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Big 4 Lots of Deloitte news this week, such is the way of the news cycle.

cpas 109

cpas audit auditor CPA 109

Basis 365

MARCH 1, 2023

This job position tracks receiving and shipping of goods to the final destination. On the other hand, an inventory manager directs their attention to the actual product, managing order quantities, re-order dates, purchase prices, vendor relationships, and tracking costs in the accounting system and COGS.

accounting system 104

accounting system financial statements accounting principles Start-ups 104

Ronika Khanna CPA,CA

JULY 28, 2023

While accounting records and bank statements are a good starting point, if you do undergo an audit, CRA and RQ will almost always want to see the underlying receipt, bill or invoice that accompanies a specific transaction. Similar requirements for electronic documents are laid out by Revenue Quebec.

bookkeeping 98

bookkeeping accounting and finance tax return Account 98

Withum

DECEMBER 12, 2023

Part of running your own practice includes some managerial roles such as managing staff, hiring the correct consultants and building a team of trusted advisors. In medical practice accounting, most practices use the cash-basis method of accounting. So, what now? You want to compare current periods to prior periods.

financial statements 75

financial statements Account accountant accounted 75

Going Concern

JUNE 22, 2023

The description is “Peeping tom, Staring man, Creepy man image.” It began with a phone call from the CEO of an accounting firm, he writes. The post How to Protect Sensitive Client Data When Your Pathetic Staff is Bringing Shady Ladies Home to Bang appeared first on Going Concern. ” Good enough.

CPA 104

CPA cpa firm cpas accounting firms 104

xendoo

OCTOBER 20, 2021

Business owners have a ton of demands on their plate, from bringing on the right staff members to marketing their products and working to improve the customer experience. Should you focus on growing your core business or continue to focus on the administrative side, like managing your accounting and bookkeeping needs? IT auditing.

Account 98

Account accountant accounted bookkeeping 98

ThomsonReuters

OCTOBER 6, 2023

They want to do a better job at using technology to streamline data collection, automate data entry, enhance the review process, and improve service delivery. Taking a strategic approach to the planning phase is crucial because it prepares staff and clients well before the official rollout and allows firms to sidestep preventable errors.

tax preparation 64

tax preparation Tax tax return Technology 64

ThomsonReuters

MAY 19, 2022

Keep in mind that common-law employee status is not determined solely by a worker’s payroll status, title, or job description but depends on various factors enumerated by the IRS and the courts, including whether the organization controls the manner in which the individual provides services. Contributing Editors: EBIA Staff.

payroll 98

payroll Tax Account accountant 98

ThomsonReuters

DECEMBER 10, 2020

HSA — Health Savings Account. SPD — Summary Plan Description. TCJA — Tax Cuts and Jobs Act. Contributing Editors: EBIA Staff. Part 1 of 3) appeared first on Tax & Accounting Blog Posts by Thomson Reuters. HDHP — High-Deductible Health Plan. Health FSA — Health Flexible Spending Arrangement.

income tax 90

income tax Tax Account accountant 90

ThomsonReuters

OCTOBER 18, 2021

How do you attract top accounting talent? The job posting is a simple way to articulate what you value to the candidates. While a job description is a great chance to display the kind of work and tasks that’s required of a candidate, it can be more difficult to describe what working with your firm is like.

Education 52

Education Tax Account accountant 52

FraudFiles

AUGUST 4, 2022

Today we’ll talk about one area where you may see some red flags: irregularities in the accounting records and procedures. An auto dealership had a controller who had not reconciled the bank accounts for nearly a year, despite management’s insistence that it be done. Both of these problems need to be corrected quickly.

Account 52

Account accountant accounted general ledger 52

ThomsonReuters

APRIL 23, 2021

Whether you’re looking to branch out and start your own firm, or you’re a current small firm owner, the idea of continuing to evolve and design your tax and accounting firm is a constant in your mind. Paul Miller’s path into tax and accounting started different than most because it didn’t start in the industry. “I

accounting firms 98

accounting firms Tax Account accountant 98

PYMNTS

JULY 23, 2020

The staff was on board and the office reopened, only to have new infections hit Florida hard. Anderson has now closed the office a second time, and OnPay staff is working from home again. In accounts payable, you have to get the payments out and you have to print and mail checks. “In That means staff is going into the office.

Technology 60

Technology accounts payable Florida Maine 60

Basis 365

MARCH 30, 2023

ARE ALL ACCOUNTING SERVICES THE SAME? COMPARING DIFFERENT ACCOUNTING PARTNERS CAN BE LIKE COMPARING APPLES AND ORANGES. ACCOUNTING SERVICES (OR OFFERINGS) ARE NOT ALL THE SAME. BREAKING DOWN THE DIFFERENT ACCOUNTING PARTNERS YOU MAY BE CONSIDERING AND WHICH ONE IS RIGHT FOR YOU. WHO CAN ADVISE YOUR BUSINESS?

accrual accounting 52

accrual accounting Account accountant accounted 52

Mark Lee

JANUARY 10, 2023

Many accountants, even in the smallest of firms are keen to recruit the right people. I’ve never liked this epithet but the only alternative one hears (the ‘battle for talent’) also sounds as if it belongs in a bygone era and is more relevant to the armed forces than to accounting firms. Let’s start with your careers page.

Account 52

Account accountant accounted Start-ups 52

Withum

DECEMBER 19, 2023

The Generative Enterprise Creating AI-Driven Business Models AI opinions often swing from one extreme to another – it will either destroy or save humanity; it will either create or eliminate jobs. Therefore, it is important to ensure that AI systems are transparent, accountable and aligned with the values and norms of the stakeholders.

Technology 59

Technology Legal Start-ups Entertainment 59

xendoo

APRIL 8, 2022

As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . Legal, accounting, and professional fees. If it fits any of these descriptions, you likely qualify for a home office deduction. Car expenses. Travel expenses.

business tax 97

business tax Tax Education tax preparation 97

PYMNTS

JUNE 30, 2016

Architects design, plan, and oversee the heavy lifting of creating sound structures – and, really, the job description is in essence the same for a chief architect officer. Then, I contact the IT staff to discuss operational or development needs that require assistance. It makes any other job seem boring in comparison.

Bill Payment Platform 40

Bill Payment Platform Education Technology Account 40

CPA Practice

JANUARY 19, 2024

Randy Johnston and Brian Tankersley, CPA, attended CES 2024 in Las Vegas in January, and provide a walkthrough of the technologies they think will have the greatest potential or interest for accounting professionals. This one looked like it would take the abuse that staff could dish out. SPEAKERS Randy Johnston, Brian F.

Technology 69

Technology Account accountant accounted 69

CPA Practice

JANUARY 16, 2024

Deloitte thinks so: The accounting and consulting giant recently announced that it is looking into using AI technology to move employees around so that the company can properly utilize existing staff and hopefully avoid layoffs. This is what I told ChatGPT: “I have five candidates for three job positions.

payroll 111

payroll Sales Education Technology 111

Angry Accountants

SEPTEMBER 9, 2009

He already has like a billion accountants working for him. Life working as an accountant at the IRS is no mystery -- just watch Stranger Than Fiction , and if you are interested in the job, try here: [link] But what about non-IRS jobs? Your duties will include: Analyze and reconcile accounts and prepare balance sheets.

Account 52

Account accountant accounted auditor 52

BuildYourFirm

FEBRUARY 3, 2021

No doubt, a well-written business description and stellar reviews are essential, but photos allow potential customers to visually familiarize themselves with your business, helping them in the decision making process. Also, include tags and descriptions to your images. Follow GMB Photo Guidelines.

cpas 173

cpas Start-ups CPA accounting firms 173

Going Concern

MARCH 17, 2023

Restoring Exam credits expired during COVID would help address CPA shortage [ AICPA ] The accounting profession is confronted with a talent shortage, and reinstating CPA exam credits that have expired since January 1, 2020, could have an immediate impact on our CPA pipeline. Certainly, credit goes to all who are attempting to do something.

Government 95

Government Gambling audit CPA 95

Ryan Lazanis

AUGUST 22, 2022

Looking for the best accounting practice management software for your firm? Good news, because this is the ULTIMATE accounting practice management software round-up post. Get to know the top accounting practice management software and why it is essential for your business. The Basics of Accounting Practice Management Software.

Account 105

Account accountant accounted quickbooks 105

CPA Practice

JANUARY 10, 2024

Both tasks are performed by IRS customer service representatives (CSRs) in the agency’s Accounts Management (AM) function. That translates to more than 650 unproductive staff years in which these employees could have been processing paper and reducing response times for amended returns and correspondence. That’s just over 10%. “To

tax return 64

tax return income tax Non-Profits Tax 64

Steve Feinberg

NOVEMBER 9, 2021

If you’ve been thinking about turning your hobby into a full-time job, or you have an idea for a product that people can’t live without, then New Hampshire is a business-friendly state in which to incorporate your new venture. You may also consider opening a bank account or line of credit specifically for your business.

New Hampshire 52

New Hampshire income tax bookkeeping Tax 52

Going Concern

DECEMBER 4, 2023

.” Consulting giants and law firms are looking to artificial intelligence to speed up the time it takes junior staffers to make it to the prestigious partner level as the technology eliminates vast swaths of the repetitive, time-consuming tasks that typically filled up their first few years on the job. 150 to be exact.

audit 112

audit Account accountant accounted 112