Accounting

Chargebee updates subscription management software, adds integrations Chargebee, which makes a subscription management platform, has released its Fall 2019 software updates. Subscription-based software is on the rapid rise, especially with preference amongst accountants and their clients moving from on-premise software to Cloud. The new updates from Chargebee include support for complex quote-to-cash workflows, and for

Companies lack adequate anti-fraud staff and resources and are seen as more likely to fall prey to fraud than in the past, according to a new report. The report, released Thursday by the Association of Certified Fraud Examiners at a Fraud Risk Management Summit in New York, polled 886 ACFE members and found that 49

Ahh, National Boss’s Day. Every October 16, workers across America take time out of their busy day to say thanks to their fearless leaders. What do you think your staff would say about you if they’re honest? What would you say about you? Successful people are notorious for “managing to the horizon” — i.e., looking

The Financial Accounting Standards Board voted Wednesday to approve proposals to delay the effective dates of its leases, credit losses, hedging and long-duration insurance contract standards. FASB issued proposals in August to defer the effective dates of those standards, particularly for private companies, nonprofits and small public companies, to give them more time to implement

The IRS has selected nine new members for its Electronic Tax Administration Advisory Committee. The committee’s aim is to prevent identity theft and refund fraud in support of paperless filing of tax and information returns. ETAAC members work closely with the Security Summit, a joint effort of the IRS, state tax administrators and the tax

As you read the intro to this article, you might start to question where I’m going with all of this as I dig into the business model of coffee shops. But bear with me: I have a point — a crystal clear point to make. As a dedicated coffee drinker, I’m a frequent patron of

Despite advances in technology, too many companies are still wasting time and money with manual bill pay and paper checks. Accounting firms are in a unique position to help these companies, but many firms fail to recognize that handling payments represents a prime opportunity to generate new revenue, offer a differentiated service, and help clients

This position doesn’t yet exist and this column is the first official announcement of the CAO position in accounting firms: Chief Accountability Officer. Nobody likes to be told what to do, especially partners in accounting firms. Until now, the bad person was the managing partner, but many firms, even very small ones, have set up

In my last article, I explained the value of having a concise, well-organized agenda to keep client meetings on track. Now that you’ve had a great meeting, it’s essential to follow up on your promises, action items and deliverables from that meeting. That’s where the meeting summary letter comes in. A summary letter is a

The Internal Revenue Service has issued a second early draft version of the new Schedule 1 for next tax season’s Form 1040 to include a question up top about whether a taxpayer has sold, received, exchanged or acquired cryptocurrencies such as Bitcoin or Ethereum. The question asks, “At any time during 2019, did you receive,

The Securities and Exchange Commission has named Rebekah Goshorn Jurata, a special assistant to the president for financial policy on the White House’s National Economic Council, as a new board member at the Public Company Accounting Oversight Board, replacing Kathleen Hamm, whose short partial term expires this month, even though Hamm had expressed interest in

The American Institute of CPAs’ Financial Reporting Committee has sent a letter to the Financial Accounting Standards Board questioning the costs and benefits of FASB’s current goodwill impairment model. The letter, which the AICPA’s FinREC group sent last week to FASB, comes in response to an invitation to comment from FASB. FASB had asked whether

Everybody out of the Pool; dying Embers; the House falls; and other highlights of recent tax cases. Middletown, Connecticut: Eugene Carlin, 59, has been sentenced to 18 months in prison, to be followed by three years of supervised release, for drug trafficking and tax offenses. In July 2018, police searched Carlin’s residence and seized approximately

HR and payroll solutions provider Paychex introduced several new products this month, including a smartwatch plug-in for Flex Time users. Some of the new products make use of artificial intelligence software and GPS functionality to push payroll technology into the high-tech arena, and some will be fully launched next year. “The future of HR will

Paro, a Chicago-based company that uses technology to bring freelance accounting and finance professionals together with companies that have short-term and temporary staffing needs, has raised $10 million in funding. The company plans to use the money from the recent fundraising round to expand its suite of workflow automation tools and to pursue more enterprise

The IRS has issued additional guidance on common questions regarding the tax treatment of a cryptocurrency hard fork (when a single cryptocurrency splits in two). A new set of FAQs also addresses virtual currency transactions for those who hold it as a capital asset. Some taxpayers with virtual currency transactions may have failed to report

Cloud computing has not only transformed how businesses and people conduct their daily activities, it has also clouded the landscape for taxing such technological advancements. In 1998, the same year Google was founded, the Internal Revenue Service finalized the regulations governing the taxation of cloud computing transactions. With a reboot so clearly overdue, the IRS

Thomson Reuters has released Checkpoint Engage PCR (preparation, compilation and review), a new product in its Checkpoint suite of research and guidance products. Checkpoint products engage an editorial team made up of accounting, legal and other experts to write guidance and create engagement templates. Checkpoint Engage PCR, which is a web-based solution, is designed to

Payroll processors are anticipating closer scrutiny after a high-profile scandal involving MyPayrollHR, a Clifton Park, New York-based company that suddenly collapsed last month after its CEO reportedly absconded with $35 million in payroll and tax withholding deposits for its customers, prompting paycheck deposits to briefly disappear from the bank accounts of employees who work at

WithumSmith+Brown is commemorating the passing of one of the CPA firm’s founders, Fred Withum, who died Sept. 30, 2019 — a day before his 85th birthday. Withum and his partners founded the firm in 1974 with six employees in a small office in Milltown, New Jersey. The firm is now headquartered in Princeton and has