Future Firm

JUNE 8, 2023

In this screenshot from Future Firm Accelerate, a member seeks recommendations for improving skills in interpreting financial statements and communicating with clients in a non-accounting language. This forum has been around since 2008 and still has decent web traffic.

Accounting 52

Accounting Accounting CPA Tax 52

Cloud Accounting Podcast

JULY 7, 2020

I've got follow up on Wirecard, the Ernst & Young audit that apparently did not detect $2 billion in money that was missing. David Leary: [00:04:18] I've got some Wirecard, as well. Blake Oliver: [00:04:19] IRS news, appropriate for Tax Day coming up. Blake Oliver: [00:22:22] That's actually been one of the big problems with audits.

Tax 40

Tax Auditing Deposits Accounting 40

Cloud Accounting Podcast

MARCH 30, 2020

Under 30-minute set-up template - you've got a three-way financial statement forecast for the next 12 months. The last time the IRS sent stimulus checks, in 2008 and 2009, it took more than two months to get the money in the mail. If you're getting audited, like, "Hey, we're gonna stop right now and not do anything."

Accounting 40

Accounting Accounting Payroll Billing 40

Cloud Accounting Podcast

SEPTEMBER 15, 2020

There was a story in the Wall Street Journal about how auditors are struggling to work remotely, which doesn't surprise me given the reliance on paper for a lot of auditing and in-person interviews. [00:07:46] There's some good news; the AICPA issued a new audit evidence standard that allows for non-human evidence collection.

Tax 40

Tax Payroll Financial Statements QuickBooks 40

Cloud Accounting Podcast

MAY 26, 2020

bust, the 2008 crisis. Thankfully, during coronavirus, all of that thought leadership about how blockchain is going to eliminate the audit profession has disappeared. According to generally accepted accounting principles, you have to eliminate those transactions when you present your financial statements.

XERO 40

XERO Accounting Accounting QuickBooks 40