Tue.Jan 30, 2024

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Preparers mixed on IRS improvements

Accounting Today

With the agency touting improved service and response times, tax practitioners are acknowledging the gains, but still see room for more.

Tax 308
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Tips and tricks for property investment accounting

Xero

Australia’s current property market presents both challenges and opportunities, with changing tenancy rules and rental controls, and the impact of interest rates and cost of living pressures. It’s a complex outlook, but property investment is a marathon swim, not a quick body surf to shore. Property investment accounting, or landlord accounting, manages your property portfolio assisting with tax compliance and return on investment.

XERO 234
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A pre-season risk checkup can save post-season regret

Accounting Today

Accountants and tax pros need to take steps to protect themselves as they start the countdown to April 15.

Tax 300
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Xero formalises commitment to military veterans by signing Armed Forces Covenant

Xero

I’m proud to announce that Xero has signed the Armed Forces Covenant , formalising its commitment to supporting military veterans and their families in the workforce. The Armed Forces Covenant is a promise by the nation ensuring that those who serve or have served in the UK Armed Forces, and their families, are treated fairly. Xero’s Veterans Employee Resource Group (ERG) marked the signing by hosting an event in our London office this week.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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42% of finance leaders don't trust their own data

Accounting Today

A recent survey has found that, despite an increasingly data-driven business world, 42% of finance leaders don't completely trust data from their own organizations.

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A new tool to make taxes more transparent

Intuit

It’s no secret that the federal tax code is long, complex, and difficult to understand. In fact, many Americans don’t have a clear understanding of how the tax code works or what federal programs and initiatives their tax dollars support. Understandably, this lack of transparency can be a massive source of frustration every tax season. More than 80 percent of Americans say that the complexity of the federal tax system bothers them.

Tax 130

More Trending

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Acumatica Will Return to Las Vegas for 2025

Insightful Accountant

During the 2nd-day of their 2024 Summit, Acumatica announced the event’s date and location for 2025. They also premiere new features and functionalities that will be implemented with their 2024R1 and R2 updates.

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NY sues FDIC over $44M in unpaid Signature Bank taxes

Accounting Today

The city's department of finance audited Signature after the bank shuttered in March and found tax deficiencies for years 2015 through 2021 related to unreported income allocation and adjustments to investment and capital income.

Tax 198
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Acumatica Will Return to Las Vegas for 2025

Insightful Accountant

During the 2nd-day of their 2024 Summit, Acumatica announced the event’s date and location for 2025. They also premiere new features and functionalities that will be implemented with their 2024R1 and R2 updates.

97
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PCAOB spotlights broker-dealer audit problems

Accounting Today

The Public Company Accounting Oversight Board staff report offered insights into the PCAOB's inspection program for auditors of broker-dealers and issues with professional skepticism and low-ball fees.

Auditing 171
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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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How Dext Prepare Builds Streamlined Accounting for the Construction Industry

Dext

About Northwest Construction Cooperative Northwest Construction Cooperative is a construction business based in Olympia – Washington, specialized in residential remodeling and new custom homes.

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Ex-Freshfields partner convicted over tax scandal

Accounting Today

An ex-Freshfields Bruckhaus Deringer partner who helped top investment banks navigate the Cum-Ex trading strategy behind Europe's biggest tax scandal was sentenced to three and a half years in prison.

Tax 171
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Common Cash Receipt Challenges

oAppsNet

Various challenges can arise in world financial management, threatening the stability and accuracy of cash receipt processes. This comprehensive exploration delves into the typical cash receipt challenges businesses face, unraveling strategies to navigate turbulent financial waters and emerge with financial clarity. 1. Manual Data Entry Errors: The Quagmire of Human Oversight One of the perennial challenges in cash receipts management is the propensity for manual data entry errors.

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KPMG UK partners lowest paid of Big Four at £746K

Accounting Today

The firm delivered a 4% rise to its 833 U.K. partners, similar to last year's levels, but they remain at the bottom of the pay table.

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Your New & Improved Month-End Close Process Is Not So Far Out of Reach!

All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!

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Expense Reimbursement

Tipalti

Having a streamlined and efficient expense reimbursement process is critical for any business looking to maximize profits and not leave money on the table.

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Andersen expands valuation practice in Latin America

Accounting Today

The international network has signed up five collaborating firms in Argentina, Chile, Colombia and Mexico.

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Listener Mail: Finding Balance with Tech & CPA Pipeline Problem

Cloud Accounting Podcast

This week, Blake and David Leary sort through the mail and respond to a variety of listener emails and voicemails. Amongst the topics covered, they explore working as a TurboTax preparer to barriers faced by career-changers entering public accounting. They go on to debate the root causes behind accounting's heavy workloads and offer perspectives on how licensing rules and firm profitability shape experiences.

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How does entity choice affect QBI deductions?

Accounting Today

With the Qualified Business Income tax deduction of 20% set to expire in 2025 (unless it's extended), clients who are starting a business may wonder how their choice of entity will impact their QBI deduction and ultimately their bottom line.

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The Definitive Guide to Spend Management

The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.

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Annual Trends Survey from Center Reveals Corporate Card Usage is Outpacing Software Adoption, Highlighting Need for Integrated Expense Management Solutions

Insightful Accountant

60% of SME Respondents Would Consider New Solutions, Citing Simplicity, Improved User Experience and Lower Cost as Drivers of Change

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Practice profile: A passion practice

Accounting Today

Joshua Beal's DeafTax thrives by serving the hearing-impaired community — as clients and employees

Tax 171
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Understanding GCP Storage Pricing

finout

?Explore GCP storage pricing and optimization strategies in our guide for effective cost management.

FinOps 52
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Understaffed? Under-budgeted? Your tax department can still thrive

Accounting Today

These five management tips can lead dwindling teams to meet compliance requirements — and turn tax departments into value-add parts of an organization.

Budgeting 131
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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

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Currency swap definition

Accounting Tools

What is a Currency Swap? A currency swap is a spot transaction on the over-the-counter market that is executed at the same time as a forward transaction, with currencies being exchanged at both the spot date and the forward date. One currency is bought at the spot rate and date, while the transaction is reversed at the forward date and rate. Thus, once the swap expires, both parties return to their original positions.

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In the blogs: To put it simply

Accounting Today

Incentives and resistance; inspiring staff ambition; the keys to change; and other highlights from our favorite tax bloggers.

Tax 136
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Certified public accountant (CPA) definition

Accounting Tools

What is a Certified Public Accountant? A certified public accountant is an accountant who has passed all parts of the CPA examination, as administered by the American Institute of Certified Public Accountants , and who has completed all additional work and educational requirements of their local state accounting regulatory agency. A CPA is authorized to render an opinion on the fairness of a client's financial statements.

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2024 Best Firms to Work For applications being accepted

Accounting Today

The window for participating in Accounting Today and Best Companies Group's annual ranking is currently open.

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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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Employer payroll taxes definition

Accounting Tools

What are Employer Payroll Taxes? Employer payroll taxes include taxes primarily related to employee benefits and unemployment funds. The liability and withholding obligations for these taxes are as follows: The total amount of payroll taxes collected by the employer from employees , as well as those recorded as an expense by the employer. The employer is responsible for remitting both types of payroll taxes to the applicable governments.

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Federal tax relief for Rhode Island storm victims

Accounting Today

The IRS is pushing back payment and filing deadlines.

Tax 171
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Material yield variance definition

Accounting Tools

What is the Material Yield Variance? The material yield variance is the difference between the actual amount of material used and the standard amount expected to be used, multiplied by the standard cost of the materials. The standard unit usage is developed by the engineering staff, and is based on expected scrap rates in a production process, the quality of raw materials , losses during equipment setup, and related factors.

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Spend Control

Tipalti

When it comes to managing company expenses, it may be tempting to over optimize the way your company spends money. But doing so can actually cut into your revenue by making it more difficult for your teams to do their jobs and maintain daily operations.

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Book of Secrets for the Month-End Close

Developing a consistent month-end close doesn’t need to be a mystery. We’re sharing our top 10 secrets (plus one bonus!) for streamlining your close.