As the owner of an accounting firm, it is crucial to keep a strong direction for your practice and to anticipate and accompany growth. In the beginning, you may mainly provide a lot of technical service, taking on the role of a technical leader rather than a manager. But as the staff and client base expands, the need for continuous management will clearly appear. This can be a role that is more or less natural for you.
We came up with five tips that should enhance the way you manage your virtual practice. Specific situations will occur, but these pieces of advice are foundational and can be relied on when developing new managerial practices.
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Artificial Intelligence in Accounting Industry Size 2019, Market Opportunities, Share Analysis up
Growth Forecast Report on “Artificial Intelligence in Accounting Market size | Industry Segment by Applications (Automated Bookkeeping, Invoice Classification and Approvals, Fraud and Risk Management and Others), by Type (Hardware, Software and Service), Regional Outlook, Market Demand, Latest Trends, Artificial Intelligence in Accounting Industry Share & Revenue by Manufacturers, Company Profiles, Growth Forecasts – 2025.
Fed is propping up firms that use fuzzy accounting - Los Angeles Times
But now, in its latest effort to keep credit flowing, the Fed has done a remarkable about-face. It essentially endorsed the dubious practice with a program that may serve to bail out some of the nation's most leveraged companies.
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At issue is the trend among many leveraged companies to "adjust" a key measure of their results — known as earnings before interest, taxes, depreciation and amortization, or Ebitda — to make themselves appear more creditworthy. After intense lobbying by business groups, the Fed has now said those adjusted earnings can be used for the Main Street lending program, rather than the earnings figured using generally accepted accounting standards.
Cyber attacks threaten tax preparers and auditors during coronavirus crisis | Accounting Today
Tax preparers, accountants and auditors working away from their offices as a result of the novel coronavirus pandemic are at risk of falling prey to cybercriminals.
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"A lot of it is just the same types of risks that we have had all along," he said. "We've had phishing attacks or exploiting vulnerabilities in internet-facing systems, the use of compromised credentials to break into systems, and the same vulnerabilities and impacts like identity theft. But now we're turning up the volume on all aspects of risk. With the pandemic, companies and government agencies have to go through this forced digitalization."
While you're here, how about this:
Accountants and the pandemic: 'A defining time' | Accounting Today
Accountants are facing unique challenges during the coronavirus pandemic — but the profession is rising to the meet them at all levels, according to leaders from the American Institute of CPAs.
"This is a defining time for the AICPA and our firms," said Erik Asgeirsson, president and CEO of CPA.com, the technology arm of the institute, on a conference call with leaders of the profession last week. "Leadership is so critical at this time."
Even as the institute became a leading voice in shaping the direction of the federal stimulus, it worked to help firms make sense of the new environment.
Area residents receive WICPA accounting scholarship | Whos News | gmtoday.com
WAUKESHA — Emily Schmitz, a Pewaukee resident and UW Madison student, and Jacob Gross, a Brookfield resident and Wisconsin Lutheran College student, have received the 2020 LeRoy C. Schmidt 150-Hour Accounting Scholarship in the amount of $2,500, awarded by the Wisconsin Institute of Certified Public Accountants Educational Foundation Inc.
The scholarship helps fund the 150-hour education requirement to obtain a CPA license. Students must complete 150 hours of post-secondary education, including an undergraduate degree and additional coursework or a master's degree.
MiMedx Announces Appointment of William L. Phelan as Chief Accounting Officer OTC Markets:MDXG
MARIETTA, Ga., May 05, 2020 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (OTC PINK: MDXG) ("MiMedx" or "the Company"), an industry leader in advanced wound care and an emerging therapeutic biologics company, today announced the appointment of William L. Phelan as Senior Vice President and Chief Accounting Officer, effective May 1, 2020. Mr.
Peter M. Carlson, MiMedx Chief Financial Officer, commented, "Mr. Phelan has already provided significant expertise throughout the restatement process. He has been critical to moving MiMedx towards becoming current in our financial reporting and strengthening the Company's internal controls. His interest in joining the Company as a full-time employee is a testament to our commitment to transparency and a patient-centered culture."
AccuFund Awarded 5-Stars in CPA Practice Advisors' Nonprofit Accounting Systems Review
CPA Practice Advisors describes, "AccuFund is best suited for mid-sized nonprofit organizations and government entities that are in the market for a modular system that can manage multiple funds and programs." AccuFund is available online or onsite, and users can purchase the modules they need, and add others at a later time.
AccuFund Accounting Suite includes excellent reporting options, with a Financial Report Writer available. Report templates are included, with the ability to customize the templates as needed. The application also includes nonprofit specific reports such as the Statement of Cash Flows, along with a combined balance sheet and trial balance."
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5. It also means your relationship is healthy. You could spend time together. The "something" is still there. The… https://t.co/1NwUHQlBl0 LekeAlder Sat May 02 08:00:18 +0000 2020
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