The IRS is about to put all of the the funding, personnel and technology advantages it now enjoys to use. Count on an upswing in audits of wealthy companies as well as owners and investors who run afoul of tax…
Accounting
Not all companies handle payroll records the same way. Firms may keep data in multiple systems -- payroll, HR, timekeeping and the general ledger. There's no one-size-fits-all rule for everyone. Same goes for ditching payroll records that aren't required by…
The wave of tech fraudsters landing in the slammer rolls on. Elizabeth Holmes of Theranos infamy, crypto hustler Sam Bankman-Fried ... and now Manish Lachwani, the ex-CEO of HeadSpin, an analytics startup he co-founded. Lachwani inflated his company's worth and…
The majority of publicly traded companies say they will continue to voluntarily report greenhouse gas (GHG) emissions that are linked by many scientists to manmade climate change, so as to be transparent with investors. But the minority of companies that…
Auditors sought a single principle for accounting of software costs. But after months of consideration, the Financial Accounting Standards Board (FASB) is shelving the project. FASB announced current guidance will remain in place. Board members "decided not to further pursue…
Fewer college students are willing to put in the time and money to become accountants. Finance professionals are concerned about the dwindling talent in the pipeline as Baby Boomers retire. Now some states are getting serious about the problem and…
Whether payroll professionals use the most current Excel in Microsoft 365 or an earlier version, they'll never find enough time to use all of the functions and shortcuts available to them. Even expert users of Excel will stumble upon a…
Brace yourself: About a third of accountants are making multiple errors every week. Fifty-nine percent are goofing up on a monthly basis, in part related to closing the books. And a whopping 18% of accountants admit to making mistakes every…
If you've used Excel to create a database table with fixed formulas, and that table will be used by multiple people, there's a way to protect the sheet from being written over while still enabling editing in fields where people…
Believe it or not, there's still money left on the table for companies that kept workers on their payrolls while struggling to stay afloat during the COVID-19 pandemic. Heads up: Businesses face a March 24 deadline to correct any employee…
Companies seeking accountants to replace or reinforce their workforces will continue to find themselves stuck between a rock and a hard place. The human reinforcements aren't coming in sufficient numbers. Fact: The number of candidates sitting for the certified public…
Year-end close is when many finance teams are vulnerable to burnout from a seemingly endless, high-priority to-do list of generating annual balance sheets, profit and loss statements and cash flow statements. So if your year-end closing is this quarter, or…
