One of the biggest pain points for startups and small businesses is keeping up with back office tasks such as bookkeeping and managing taxes.
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Three-time co-founders Waseem Daher, Jeff Arnold, and Jessica McKellar formed Pilot with the mission of affordably providing back office services to startups and SMBs. With over 1,000 customers, it has gained serious traction over the years. And Pilot has now also received validation from some big-name investors. On Friday, the company announced a $100 million Series C that doubles the company's valuation to $1.2 billion.
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Jeff Bezos-backed start-up Pilot hits $1.2 billion valuation
Accounting start-up Pilot raised a new round of funding from Jeff Bezos and other Silicon Valley investors to help small businesses outsource back-office tasks.
The San Francisco-based company closed a $100 million funding round this week, doubling its valuation to $1.2 billion. The round was led by Bezos 's venture capital firm Bezos Expeditions and hedge fund Whale Rock Capital, with participation from Sequoia and Index Ventures. Stripe and its founders, Patrick and John Collison, as well as former VMware CEO Diane Greene had previously invested in Pilot.
Dallas startup BaCo Tech earns patent for workflow platform for accountants | Accounting Today
BaCo Tech has received a U.S. patent for features in its transaction-based workflow platform for accountants.
The platform is built so that CPAs can teach it how to identify and account for tax-significant transactions. Once automated, the tax adjustments are made in "real time," so accountants can see accrual financial statements that match up with their accounting software and real-time income tax-based reporting.
Lima honored for accounting reports - The Lima News
LIMA — For the fifth consecutive year, the City of Lima received a certificate of achievement for excellence in financial reporting from the Government Finance Officers Association of the United States and Canada.
The award covered the comprehensive annual financial report for the year ending Dec. 31, 2019, and was judged by an impartial panel on its ability to demonstrate a constructive “spirit of full disclosure” to clearly communicate its financial story.
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Kaplan Partners With Gleim Exam Prep to Offer Accounting Exam Review to Global Clients | National
A leader in accounting continuing education, Kaplan now will offer its global client base the Gleim-created exam review program for Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Certified Internal Auditor (CIA).
"We are pleased to reach this mutually beneficial agreement with Gleim. Their reputation as a provider of the highest quality products and best customer service in the accounting exam prep market aligns perfectly with Kaplan," said David Pugh, MBA, CPA, vice president of product, Kaplan. "Our partnership combines the expertise and resources of two giants in the test prep industry. I look forward to providing these premium services to our customers."
Friday Footnotes: Amazon Prime Accounting?
Deadline for certain single audits delayed because of pandemic [ Journal of Accountancy ] The due date for certain single audits to be submitted to the Federal Audit Clearinghouse has been delayed six months as a result of challenges related to the coronavirus pandemic. The Office of Management and Budget (OMB) announced the extension in a memorandum for the heads of executive departments and agencies issued this week.
Jeff Bezos-backed accounting start-up hits $1.2 billion valuation after new funding round [ CNBC ] Accounting start-up Pilot raised a new round of funding from Jeff Bezos and other Silicon Valley investors to help small businesses outsource back-office tasks. The San Francisco-based company closed a $100 million funding round this week, doubling its valuation to $1.2 billion.
Laredo man charged with kickback/accounting fraud scheme | USAO-SDTX | Department of Justice
LAREDO, Texas – A 46-year-old Laredo resident has been charged for stealing money from an automobile financing company through a kickback and accounting fraud scheme, announced Acting U.S. Attorney Jennifer B. Lowery.
A federal grand jury returned the 12-count indictment March 18 which was unsealed today. It alleges Montiel misused his position as general manager of the company to sell vehicles that the company had repossessed. He allegedly sold them at prices below their market value in exchange for receiving a kickback from the buyer.
Financial advisors, assemble! | Accounting Today
The wealth management business as we currently know it is far less mature than the accounting or legal professions. After all, the Certified Financial Planner certification was born in 1972 and the Certified Financial Planner Board of Standards was founded in 1985. With less history than the accounting profession, the financial planning or wealth management business is still evolving into a profession that can be broadly respected and somewhat consistent from practice to practice.
Happening on Twitter
New: Amazon's Twitter war with @berniesanders & @SenWarren came after Jeff Bezos expressed dissatisfaction with the… https://t.co/iBf3ATJfNP DelRey (from NYC/NJ) Sun Mar 28 21:00:23 +0000 2021
Last year the average annual household income in Baltimore was roughly $53,000. If Jeff Bezos were to move there,… https://t.co/5EwHyRguH3 Public_Citizen (from Washington, DC) Sat Mar 27 17:13:01 +0000 2021
Jeff Bezos to Become First Amazon Worker to Get a Break: https://t.co/BweBQ0hjhG https://t.co/25qHxa1cv0 Reductress (from New York) Sat Mar 27 22:00:18 +0000 2021
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