Mon.Mar 04, 2024

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Accounting firm sued over Ponzi scheme

Accounting Today

Investors have filed a lawsuit against an accounting firm alleging it helped a client maintain a Ponzi scheme involving cash advances that led to the loss of millions of dollars.

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Insightful Accountant Announces Inaugural Advisory Panel

Insightful Accountant

We are excited to announce the members of Insightful Accountant’s inaugural Advisor Panel. The primary purpose of the panel is to help us stay “in touch” with the audience we serve and to continue to provide the content you, our audience, want.

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KPMG fined £1.5M over Saatchi audit failings

Accounting Today

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

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Val Steed on A CPA's Perspective on Accounting Technology & Future Challenges

Insightful Accountant

Gary and Val take a deep dive into the Zoho products, why accounting professionals may want to consider it for their practice and/or their clients (here's a hint - low cost, high value, and a broad range of products.) Take a look at this episode!

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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Art of Accounting: Everyone will be leaving you

Accounting Today

When someone leaves, they need to be replaced and with that comes orientation, training, introduction to your systems and procedures and to your culture.

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Leap Day Tax Consequences

Insightful Accountant

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.

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Important Changes to Employment Pass (EP) Requirements for 2025

Counto

Important Changes to Employment Pass (EP) Requirements for 2025 Starting January 1, 2025, significant adjustments to the Employment Pass (EP) criteria will take effect, impacting both employers and foreigners alike. As an integral part of Singapore’s ongoing efforts to prioritise local talent and ensure fair treatment in the workforce, these changes aim to enhance opportunities for local professionals while maintaining the city-state’s attractiveness to global talent.

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Turning up the temperature on auditors

Accounting Today

A roundup of the flood of sanctions, fines and penalties issued over the past year or so by the PCAOB.

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Top 10 Honeybook Alternatives In 2024 For Project Management

Invoicera

Summary Honeybook doesn’t align perfectly with your business needs? Let us help you find a suitable alternative for your company’s operational efficiency and success. This blog post delves into top Honeybook alternatives in 2024, providing a comprehensive guide for businesses seeking the best fit for their unique business requirements. Highlights of the Blog: Insightful Overview of Honeybook: Understand what Honeybook offers and why it might not be the ideal fit for every business.

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Accountants in the hot seat

Accounting Today

The regulatory environment around accounting is getting stricter, as the IRS, the SEC and the PCAOB crack down.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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How To Calculate Accounts Receivable Collection Period

Gaviti

Businesses often rely on cash flow that they haven’t yet received. Net income and sales operate on a delayed schedule, and companies crunch the numbers expecting to settle invoices and get paid sometime in the future. Once an invoice hits accounts receivable (A/R), it enters what’s called the average collection period. Other common names include “days sales in accounts receivable,” “average receivables collection period,” or “ days sales outstanding (DSO).

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Growth factors for accounting firms

Accounting Today

What goes into the recipe for accounting firm success? Randy Crabtree goes over the ingredients, and how best to combine them.

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45 Business Expense Categories for Businesses and Startups

Nanonets

Business expense categories are a systematic classification of costs incurred during the operation of a business, designed to organize and track financial outflows for purposes such as tax preparation, budgeting, and financial analysis. This categorization helps businesses manage their finances more efficiently by providing insights into spending patterns and identifying potential tax deductions.

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ADM delays annual report, warns on internal controls

Accounting Today

The Chicago-based agricultural commodity trader said the issue with internal controls relates to the way it reports sales between segments.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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7 Ways AI Can Streamline Expense Management

Nanonets

Managing expenses often proves to be a Herculean task for many organizations. Traditional expense management systems are often fraught with challenges: manual data entry is time-consuming and prone to errors; fraudulent claims can slip through the cracks; and ensuring compliance with company policies and tax laws can feel like navigating a minefield.

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Pinion launches global network

Accounting Today

The Top 100 Firm also announced the first three member firms of the network, which will focus on food and agriculture clients.

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What is Revenue Cycle in Healthcare: Understanding Rev Cycle Management

SSI Healthcare Rev Cycle Solutions

What is Revenue Cycle in Healthcare: Understanding Rev Cycle Management Home / March 4, 2024 Author: Kristy Boldt, Sr. Marketing Director at The SSI Group, LLC When a patient visits a doctor or a hospital, there’s a whole system in place that ensures the services received are billed and paid for. This system is known as revenue cycle management (RCM), and it’s crucial for keeping healthcare providers operating smoothly.

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M&A Watch: Jackson Thornton, HHM expand

Accounting Today

Jackson Thornton acquired MST CPAs & Advisors; and HHM CPAs merged in Bizzell, Neff & Galloway.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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How to streamline your Expense Reimbursement process

Nanonets

Expense reimbursement is a fundamental aspect of business operations, encompassing the process by which employees are paid back for expenses they've incurred on behalf of the company. These expenses often include travel, meals, accommodation, and office supplies—costs that are essential for carrying out business activities but are initially borne by employees.

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Lyft's Big Financial Typo0

Blake Oliver

In our latest episode of The Accounting Podcast, David and I uncover the startling typo that sent Lyft's stock on an unexpected journey. We also show how AI is revolutionizing customer service, offer a fresh take on the 150-hour rule debate, and provide insights into the evolving landscape of commercial real estate taxes given the rise of remote work and decline of offices.

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The Future of Tax Compliance: Counto at #SFFS Fair 2024

Counto

The Future of Tax Compliance: Counto at #SFFS Fair 2024 For the second consecutive year, we were invited by the Inland Revenue Authority of Singapore (IRAS) to showcase our revolutionary AI-powered tax solutions. At the fair, attendees were treated to firsthand demonstrations of AI.TaxAssist and AI.GST. Both software seamlessly integrate with IRAS APIs, enabling one-click filing and seamless workflow management for tax practices.

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Top 10 Legal OCR Software in 2024

Nanonets

Lawyers often grapple with many documents in the dynamic legal world where every second counts, and information is the key to success. The sheer volume of paperwork, from contracts and court pleadings to discovery documents and case research, can be overwhelming. The legal landscape is evolving rapidly, and the need for efficient document management solutions has become pressing.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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Artificial Intelligence in Procurement

Tipalti

Dive into the future of procurement with our comprehensive guide to AI in procurement. Explore cutting-edge solutions and strategies for smarter, efficient sourcing.

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SSI Claims Direct Now Available

SSI Healthcare Rev Cycle Solutions

SSI Claims Direct Now Available SSI announces Claims Direct, a streamlined solution for those seeking a reliable clearinghouse alternative with a fast implementation timeframe. Read More The SSI Group, LLC (SSI) Announces Launch of Automated End-to-End Prior Authorization Solution The SSI Group, LLC (SSI), a leading provider of revenue cycle management (RCM) solutions, today announced the launch of a turnkey, end-to-end electronic prior authorization solution for healthcare providers that connec

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Supplier Enablement

Tipalti

Discover best ways to streamline processes, enhance collaboration, and drive efficiency in your supply chain management. Empower your suppliers and optimize relationships for mutual success.

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Facing challenges in your small business? XSBI data shows you’re not alone

Xero

The latest Xero Small Business Insights (XSBI) data shows just how challenging conditions became for small businesses, and their customers, towards the end of 2023. We’ve summarised the major trends and also have some tips for you on how to navigate the current headwinds. Despite improvements over the past year, inflation (or cost-of-living) pressures remained in late 2023.

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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FPA Software Solutions

Tipalti

FP&A software helps financial teams manage budgets, more accurately forecast spending, and stay on track to meet long-term goals. Learn about the best FP&A software available today.

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Ex-Trump CFO Weisselberg pleads guilty to perjury in NY case

Accounting Today

The development comes as Trump is appealing his loss at the non-jury trial, which resulted in a $454 million judgment against him and his company for inflating the value of his assets by billions of dollars a year for more than a decade.