Randal DeHart

JULY 26, 2024

The recent cyber outage is a stark reminder of digital systems' vulnerability and potential impact on businesses, including those in the construction industry. This incident offers several critical lessons for construction bookkeeping. As a contractor, your accounting and bookkeeping systems are vulnerable not only to cyber threats but also to software outages, which can compromise sensitive financial data and disrupt business operations.

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Ronika Khanna CPA,CA

JULY 26, 2024

Any sales that occur within a business where payment is not made up front (eg. retail) or in advance of the sale (eg. down payment for a car), is reflected as an “Accounts Receivable”, which is accounting terminology for amounts owing by customers to a business. It is good to have accounts receivable, as this means you are generating sales. The downside, however, of having accounts receivable is that it represents cash that you don't have now, and along with that comes the possibility that your

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accounting software Sales Account accountant 80

Going Concern

JULY 26, 2024

Sage (yes, that Sage), a “dynamic ‘think-and-do’ tank” called Demos , and the Association of Chartered Certified Accountants (ACCA) over in the UK have released a “groundbreaking study” in which 1,126 accountants and bookkeepers in senior roles were surveyed to harvest their thoughts on AI in the profession. “The accounting industry is on the brink of significant transformation as widespread AI adoption in UK accounting practices could add £2 billion to

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bookkeeping Technology Account accountant 62

Accounting Today

JULY 26, 2024

The accountant shortage remains an acute challenge in the U.S. and other parts of the globe, but some countries may be experiencing a comeback.

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As scams grow more sophisticated, it's crucial to stay proactive in defending against these threats. This guide equips CFOs, accountants, and business leaders with five essential steps—from fundamental safeguards to advanced security measures to strengthen your financial defenses. From enhancing data security to implementing fraud detection tools and safeguarding financial transactions, this guide provides expert advice that could save your company millions.

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GrowthForceBlog

JULY 26, 2024

8 min read July 26th, 2024 Nonprofit organizations have multiple funding channels to manage. In addition to tracking donations and events, nonprofits must also keep track of the funds received as a result of grant awards. Key Takeaways What Is Grant Tracking: Grant tracking is a part of grant management. The grant tracking process occurs after a grant is applied for and awarded.

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Accounting Today

JULY 26, 2024

The Internal Revenue Service isn't in full compliance with the federal government's guidance for removal of TikTok from devices, according to a new report, but mainly because it hasn't been inserting the requirement in all its contract actions.

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Insightful Accountant

JULY 26, 2024

Insightful Accountant launched it's premium content and training solution in June designed to help you grow and manage your practice through actionable articles, training sessions and Q&A sessions.

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CPA Practice

JULY 26, 2024

The IRS on July 26 provided five additional red flags of incorrect Employee Retention Credit (ERC) claims by businesses, as the agency continues to scrutinize requests for the pandemic-era tax credit. The new warning signs come from common issues that IRS compliance teams have seen while analyzing and processing ERC claims. These five red flags are in addition to seven problem areas the IRS highlighted last March.

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payroll Government Tax 52

Ronika Khanna CPA,CA

JULY 26, 2024

Being a solo entrepreneur or solopreneur (to use the pithier term) can be extremely rewarding but also brings some unique challenges. It can be a lonely existence, as you often work from home, and don’t have a water cooler where you can discuss the latest tv show you are watching. You have to become an expert on subject matters well outside of your subject of expertise, as all of us who have to troubleshoot a computer problem or write our own copy for social media and blogs, can attest to.

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Cherry Bekaert

JULY 26, 2024

In today’s corporate sphere, virtually all companies depend, to some degree, on software systems supplied by third-party vendors. These include systems for accounting, back-office operations, and IT and cybersecurity support. Despite the prevalence of this practice, some organizations undermine the potential risks associated with dependence on third parties.

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Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

Expense Management

CPA Practice

JULY 26, 2024

By Anthony G. Attrino, nj.com (TNS) A woman who worked as an accountant for a New Jersey company was sentenced Monday to more than three years in prison and ordered to pay $3.8 million in fines for charging millions in personal expenses on her employer’s credit card. Jennifer Vandever, 51, of Atco, was also sentenced in federal court in Camden County to three years of supervised release, according to a spokesman for the Internal Revenue Service’s criminal investigations unit.

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Cherry Bekaert

JULY 26, 2024

In this webinar, Catherine Bazley and Marie O’Neill will explore investment strategies and opportunities within TOZs, analyzing real estate development, small business investment, and venture capital. Learn about potential opportunities and risks for investors in these dynamic zones. Key Topics: Understand the intricacies of real estate development within TOZs, including growth potential and profitability Evaluate the viability of investing in emerging small businesses within TOZs Assess the ris

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Real Estate 52

Menzies

JULY 26, 2024

Menzies LLP - A leading chartered accountancy firm. There are many factors that can severely impact business operation costs – technology is evolving, sustainability is a concern, and digital usage is at an all-time high. Investments are now forced to cover wage growth, service costs, fuel prices, and consumer demands, leaving little disposable income for improvements elsewhere.

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Cherry Bekaert

JULY 26, 2024

In today’s corporate sphere, virtually all companies depend, to some degree, on software systems supplied by third-party vendors. These include systems for accounting, back-office operations, and IT and cybersecurity support. Despite the prevalence of this practice, some organizations undermine the potential risks associated with dependence on third parties.

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audit Healthcare accounting and finance Finance 52

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Bizinta highlights three crucial reports for financial and accounting consultancies to enhance profitability: Utilization Reporting maximizes billable hours Profitability by Consultant identifies top performers Contribution by Client prioritizes high-value clients These reports provide accurate insights, replacing guesswork with data-driven decisions.

accounting firms

Accounting Today

JULY 26, 2024

Double-dipping on wage claims and saying masks disrupted operations are just two new hallmarks of bad Employee Retention Credit claims.

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Cherry Bekaert

JULY 26, 2024

Annual planning is a crucial process that sets the tone for the upcoming calendar year and enables organizations to define goals, align resources, and capture growth opportunities. While some may view it as an exercise in predicting the future, the real purpose of annual planning is to identify opportunities for growth (the “homework”), synchronize the organization to capture them (the “framework”), and ultimately, empower operational leaders to make decisions when the future doesn’t turn out as

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Accounting Today

JULY 26, 2024

Denver played host to the AGA Professional Development Training (PDT) in 2024, marking the first time the city had the honor of hosting this prestigious event in many years.

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Education Government Account accountant 49

Cherry Bekaert

JULY 26, 2024

On June 17, 2024, the Vermont legislature made a significant change by enacting legislation ( Vt. H. 887 ) that repeals the sales and use tax exemption for prewritten computer software accessed remotely, which was originally enacted in 2015 with Act 51. The new law went into effect on July 1, 2024, amending the definition of tangible personal property to include prewritten computer software, regardless of the delivery method or access.

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Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

Finance

Accounting Today

JULY 26, 2024

NASBA expands new leadership team; KLR promotes pair of partners; and more news from across the profession.

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CPA Practice

JULY 26, 2024

By Karin Price Mueller, nj.com (TNS) New Jersey residents will have a new way to file their federal tax returns when it’s time to file for 2024, the IRS and state officials said Wednesday. The program, called IRS Direct File, was tested in 12 states during the 2023 tax filing season, and it’s now ready for prime time, officials said. The program will now be a permanent option for taxpayers in states that choose to participate, and New Jersey said it’s in.

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New Jersey tax return income tax Tax 52

Accounting Today

JULY 26, 2024

The final wording of the communique is subject to ongoing debates.

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CPA Practice

JULY 26, 2024

By Caitlin Reilly, CQ-Roll Call (TNS) Big corporations and upper-income households could soon be “feeling the Bern,” as unabashed progressive Sen. Bernie Sanders, I-Vt., on Wednesday hinted at throwing his hat in the ring for the soon-to-be-open Senate Finance Committee seat. Sanders, who describes himself as a democratic socialist, is a vocal critic of Wall Street and corporate America and has pushed to expand entitlements like Medicare and Social Security, make college free and cut drug prices

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CPA

CPA Practice

JULY 26, 2024

By Enda Curran and Viktoria Dendrinou, Bloomberg News (TNS) The shock replacement of the Democratic presidential candidate less than four months before the U.S. election has introduced a new element of uncertainty about the outlook for economic policy in 2025 and beyond. The immediate unknown is whether President Joe Biden’s expected successor at the top of his party’s ticket, Vice President Kamala Harris, would recalibrate Democrats’ economic agenda.

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