• Most Topular Stories

  • Auditor Independence: Another Case of Misplaced Loyalty

    re: The Auditors
    2 Sep 2014 | 5:33 am
    I wrote a couple of weeks ago about the PwC Director, now partner, who is mixed up in PwC’s fine and sanctions for its lack of independence and objectivity at consulting client Bank of Tokyo-Mitsubishi UFJ. PwC consulted with the bank about money laundering allegations, at the request of regulators who were looking for reassurances from PwC that the bank was now complying with the law. The New York Times article about New York Department of Financial Services Superintendent Benjamin Lawsky’s enforcement action against PwC says that “when it was time for Bank of Tokyo-Mitsubishi to file…
  • SEC compliance office focuses on conflicts of interest

    CPA Letter Daily
    22 Oct 2014 | 5:42 am
    The Securities and Exchange Commission Office of Compliance Inspections and Examinations has made investigating possible conf -More- 
  • Unlimited access to 500+ AICPA webcasts with Annual Webcast Pass

    Financial Planning Digest
    20 Oct 2014 | 10:02 am
    Save more on CPE and get unlimited access to 500+ webcasts (including PFP webcasts) with the AICPA Annual Webcast Pass.  -More- 
  • McKenna At Medium: Two New Columns For the Bull Market Collection

    re: The Auditors
    18 Oct 2014 | 4:50 pm
    You may have seen via my LinkedIn page that I’m back at (I posted for three months last year under the “By The Numbers” collection to help kick off the site.) This time I’m part of a group effort, edited by Evan Hanson called “Bull Market”. The team includes former Reuters finance blogger now Fusion editor Felix Salmon, MSNBC commentator Alexis Goldstein, and University of Connecticut law professor and blogger at The Baseline Scenario James Kwak. My first two posts are about taxes—offshore tax avoidance and Amazon’s allergic reaction to…
  • Deloitte: Opportunity Knocking for Midmarket Firms in M&A

    Deloitte U.S. Top Stories
    20 Oct 2014 | 6:06 am
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    re: The Auditors

  • McKenna At Medium: Two New Columns For the Bull Market Collection

    18 Oct 2014 | 4:50 pm
    You may have seen via my LinkedIn page that I’m back at (I posted for three months last year under the “By The Numbers” collection to help kick off the site.) This time I’m part of a group effort, edited by Evan Hanson called “Bull Market”. The team includes former Reuters finance blogger now Fusion editor Felix Salmon, MSNBC commentator Alexis Goldstein, and University of Connecticut law professor and blogger at The Baseline Scenario James Kwak. My first two posts are about taxes—offshore tax avoidance and Amazon’s allergic reaction to…
  • Speaking Engagements/Conferences

    18 Oct 2014 | 4:40 am
    I’m on the road visiting universities, attending select conferences and forums and speaking to groups of all kinds. If you would like me to visit your university and your accounting/audit program, please write soon to lock in fall and winter dates. Contact me at to schedule a presentation at your university, conference, firm or for a private briefing. Coming Up: November 20-21, 2014, PCAOB Standing Advisory Group open meeting. Attending as media. Washington DC. December 3-4, 2014, Illinois CPA Society’s 2014 Accounting & Auditing Conference, Wednesday,…
  • 18-Year Old Anthony Canalungo Questions Herbalife, And PwC, On Exchange Rates

    23 Sep 2014 | 4:55 pm
    Anthony Canalungo ( @Canalungo on Twitter) is an 18 year old college student and young investor that has been following the Herbalife story since 2012. He says he’s been a follower of Benjamin Graham since the age of 15 and describes himself predominantly as a value investor. He’s a member of Leaders Investment Club and is a founding member of a non-profit in his community. Anthony recently wrote a really interesting article about Herbalife’s financials in Venezuela that was posted on a blog called Quoth The Raven. In the post, Anthony raises an interesting issue that I have…
  • More On My Reuters Breakingviews Column: The Andersen Tax Name Grab

    8 Sep 2014 | 10:56 am
    News broke on September 2 that a firm, made up of ex-Arthur Andersen tax partners and called Wealth and Tax Advisory Services LLC, bought the Andersen portion of the Arthur Andersen name from what’s left of that firm and will now call itself Andersen Tax. The news, as you would expect, garnered much media attention. It says something—but maybe not what the firm’s partners think— that so many years after the destruction of Arthur Andersen by criminal indictment—twelve years—so many people care. Every major media and trade publication as well as several blogs wrote about it.
  • Auditor Independence: Another Case of Misplaced Loyalty

    2 Sep 2014 | 5:33 am
    I wrote a couple of weeks ago about the PwC Director, now partner, who is mixed up in PwC’s fine and sanctions for its lack of independence and objectivity at consulting client Bank of Tokyo-Mitsubishi UFJ. PwC consulted with the bank about money laundering allegations, at the request of regulators who were looking for reassurances from PwC that the bank was now complying with the law. The New York Times article about New York Department of Financial Services Superintendent Benjamin Lawsky’s enforcement action against PwC says that “when it was time for Bank of Tokyo-Mitsubishi to file…
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    Deloitte Global headlines

  • Deloitte named a global leader in SAP Implementation Service Providers by Gartner for the second consecutive year

    17 Oct 2014 | 4:11 am
    Deloitte Touche Tohmatsu Limited (DTTL) is pleased to announce that Deloitte has been named a global leader in SAP Implementation Services by Gartner for the second consecutive year in their recently released report entitled Magic Quadrant for SAP Implementation Service Providers, Worldwide, 2014. According to Gartner, SAP implementations services “include configuration, customization and enhancement of existing SAP functionalities; application, report and interface development; and data loading, rollout, integration, testing and training services.”
  • World Tax Advisor

    17 Oct 2014 | 4:10 am
    World Tax Advisor is a bulletin of international tax developments written by professionals of the member firms of Deloitte. The newsletter focuses on analyses of cross-border tax developments that reflect the dynamic business environment faced by multinationals. The last issue of each month includes an update of recent tax treaty developments.
  • Transfer pricing alerts

    17 Oct 2014 | 4:10 am
    Updates on transfer pricing developments around the world.
  • Appetite for M&A activity in global life sciences and health care sector set to increase in the next three years, according to Deloitte survey

    17 Oct 2014 | 4:08 am
    M&A remains squarely on the agenda of global life sciences and health care companies, with 70 percent of companies (with yearly revenues of more than $10bn) stating they plan to undertake M&A activity in the next three years. This is according to a new report released today by The Economist Intelligence Unit (EIU) in collaboration with Deloitte Touche Tohmatsu Limited (DTTL) that found life sciences and health care companies are looking beyond familiar territory for progressive growth.
  • Deloitte launches Global Center for Crisis Management

    17 Oct 2014 | 4:07 am
    Deloitte Touche Tohmatsu Limited (Deloitte Global) today announced the launch of the Deloitte Center for Crisis Management. The Center provides clients with Deloitte’s breadth and depth of solutions in an integrated crisis management service through its global member firm network (Deloitte).
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    Accounting News and Notes

  • I am working hand in hand with Paychex, one of America’s BEST payroll services

    John Dillard
    22 Oct 2014 | 8:36 am
    I am working hand in hand with Paychex, one of America’s BEST payroll services to help business owner and entrepreneurs pay only their lowest legal possible tax. Would your office like a presentation to seminar attendees as to how incorporating and utilizing  payroll service will gain a lower tax bill as well as personal legal liability protection from corporate/business issues. We can forward you a copy of the presentation for your review and edification. We are available to meet to get started. Just let us know a few times that might work for your office/bank/seminar and we can set…
  • Find Out What All the Talk is About…Sugarloaf UMC ROCKS! Worship, Grow & Serve

    John Dillard
    21 Oct 2014 | 12:18 pm
    If you love to walk and enjoy this beautiful weather, we have one more large neighborhood that needs bags distributed for Trick or Treat for Hunger.  We would love the help.  Contact if you might be able to help out.   SUNDAY is going to be a HUGE day in the life or our missional church. Bluegrass worship Bags of food picked up Boxing of the sorted food BBQ fellowship celebration! The canned goods will be distributed to 3 of our local area co-ops. For more info or to find out how YOU can help, contact This class will help you with the basics of…
  • Water@Work Ministry, Inc. is looking for Volunteer Leaders

    John Dillard
    20 Oct 2014 | 8:02 am
    Volunteer Leadership Opportunities Water@Work Ministry, Inc. is looking for Volunteer Leaders Desired Qualifications for Volunteer Leaders Commitment: Dedicated to following Jesus Christ and a history of supporting missions. *Leadership: Proven experience leading others and organizations to success. *Influence: Respected and well connected in the business, political, social or Christian communities. To volunteer or recommend a potential candidate contact Tim Fenbert at 770 330 6972    
  • Shallow Grave Motorcycle Ride Sponsored by Woodstock Public Safety Foundation

    John Dillard
    17 Oct 2014 | 1:35 pm
    Shallow Grave Motorcycle Ride Sponsored by Woodstock Public Safety Foundation Ride will be Saturday October 25th at K-otic Kustoms at 6406 Bells Ferry Rd in Woodstock GA. Ride begins at 11:30 a.m. Ride Benefits our Shop with a Hero….Help a Deserving Child This Christmas!!! You can Register Online the day of the event at the above address on the 25th starting at 10 a.m. or online at    
  • ThReE wAyS tO nEvEr PaY TaXeS aGaIn

    John Dillard
    15 Oct 2014 | 7:11 am
    ThReE wAyS tO nEvEr PaY TaXeS aGaIn 1. Renounce Your U.S. Citizenship and Move Out of the Country. 2. Don’t Work or Have Taxable Income. 3. Become a Child Again & Live With Your Parents. ALL Three of These Will Work But They Have GREAT Consequences. I have summarized these consequences below by item. 1. You Will No Longer or Belong to the Greatest Country the World Has EVER Seen. 2. Eventually…Maybe sooner than later…You will lose Everything You Own 3. Though they made a movie about Benjamin Button and he grew young, this option for most of us is impossible. Keep Your Tax Bill as…
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  • Here are the links to CPA Exam Club's private Facebook Study Groups

    Brenda Mizgorski
    14 Oct 2014 | 9:59 pm
    Here are the links to CPA Exam Club's private Facebook Study Groups, please share to spread the word! FAR: AUD: REG: BEC: Related articles What is the Difference Between CPA, CFA, and CFP? Roger CPA Review Announcement Life as a CPA (14): Now what? Is CPA a Career Option? Yaeger CPA Review Provides Discounts to CPA Exam Club Members The CPA Exam Hack: Simple Tweaks to Conquer the Exam
  • Michael Duffy of Wiley CPAexcel goes over the CPA Exam process and preparation strategies (1:02:46)

    Brenda Mizgorski
    11 Oct 2014 | 3:38 am
    From Meet the Firms Fall 2014 Thinking about sitting for the CPA Exam but looking for information on how to make sure you pass the exam? Let CPAexcel show you the way in this informative overview of the CPA exam. Presented by Michael Duffy of CPAexcel, this live session is designed to answer your questions about becoming a CPA.
  • Buying Pirated Becker CPA Review Products is No Bueno

    Brenda Mizgorski
    3 Aug 2014 | 4:37 pm
    Post by CPA Exam Club. Here are the Links to CPA Exam Club's Private Facebook Study Groups Test your knowledge of corporate taxation with Phil Yaeger - REG Study Group at CPA Exam Club The CPA Exam Hack: Simple Tweaks to Conquer the Exam Yaeger CPA Review Provides Discounts to CPA Exam Club Members
  • Test your knowledge of corporate taxation (7:04) REG Study Group

    Brenda Mizgorski
    7 Apr 2014 | 2:04 pm
    Yaeger CPA Review has started up a new video series called "Test... Your...Knowledge". Say it with your game show voice Really it's no game, its all business...REG Question #2 cranks through a C Corp Schedule M-1 question. (7:04) and you can find REG Q1 here. Related articles Auditing Clarity Project with Gary B | Yaeger CPA Review Here are the Links to CPA Exam Club's Private Facebook Study Groups Yaeger CPA Review Provides Discounts to CPA Exam Club Members
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    A Counting School - Hardcore Chartered Accountancy

  • Metrolinx: read their audit report and weep

    15 Oct 2014 | 6:43 pm
    Ontario's auditor general reviewed the provincial transit agency, Metrolinx, and their audit report's been around for a while. Here's a link to the PDF. It's a depressing read. I've heard many of the facts from the report in the media, which is no surprise given the report came out almost two years ago, Two of the most glaring red flags surround the airport express train, The UP Express (I guess PU Express doesn't sound much better), and the Presto fare card - not to be confused with a streaming movie service. For Presto, the people of Ontario have spent over $700…
  • I'm back to where I started

    9 Oct 2014 | 2:54 pm
    Longtime readers know this place came about because I returned home from audit orientation and explained that I was at "Accounting School," which is the easiest way to translate Big Four onboarding training sessions to a five-year old. In response, she said, "you were at a counting school?" And this site came into existence. I'm attending a special course devoted to internal audits right now. It's been a good day where we discussed synonyms for "audit finding". Like observation. Issues. Train wrecks. Failures. Chernobyls. The Ford brothers.
  • Big Four Summer Fashion Dress Code

    22 Jul 2014 | 7:20 pm
    If you're going to talk about how to dress in an accounting firm's office, you'll end up talking about how all accountants dress, whether they work in tax, audit, or in an actual "business" that does things other than deliver audits and other "value added services."I'm going to share one tip for guys: always tuck in your shirt.Is it summer and you feel like letting it hang loose? Don't.If you're working in North American cities, the loose carefree untucked polo shirt unfortunately doesn't work.For much more extensive snark, particularly in the…
  • Can I invest in my child's training as a tax deduction and then get a nice refund when she becomes a successful pro?

    7 Jul 2014 | 7:15 pm
    That's an easy question.The answer is no. Eugenie Bouchard's father thought he could create a partnership where the money he spent on training his daughter could be used to generate a tax loss. Unfortunately tax law in Canada doesn't allow you to enter into a contract with your 9-year-old daughter. To quote the article,"The investors in the partnership had intended to make their contributions in exchange for 10 per cent of Ms. Bouchard’s future tennis earnings, up to the amount they contributed, plus a 10-per-cent rate of return per year. But as the court ruling noted, Ms.
  • Intelligent and foolish ways of looking at renting vs buying a property

    6 Jul 2014 | 4:39 pm
    It's delightfully shocking to see the gap between people who are putting forth an intelligent and well-written argument, and those who would fail on any exam. The intelligent example is on the Toronto Realty Blog regarding buying or renting a property.In some situations - especially a short-term contract in a city you're merely visiting - it's a good idea to rent a home, since the transaction costs from buying and selling property will likely eat up any gain you might be lucky enough to enjoy if prices are shooting up.On the longer horizon, there are many factors to consider - and…
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    NJSCPA Exam Cram Blog

  • Reg Exam & 3rd Attempt at AUD

    Mark Eckerle
    22 Oct 2014 | 2:05 pm
    It has been some time since my last post. I took REG just about two weeks ago. No matter how well you study I personally think it is impossible to come out of the exam feeling confident or excited. There...
  • Settling In

    Danielle Miller
    20 Oct 2014 | 6:43 pm
    Hello! My world has been crazy busy these past few weeks and I am finally starting to get in the groove of things. To catch you all up, I took my REG exam at the beginning of the month. Again,...
  • AUD Exam Up Next

    Joseph Zapf
    15 Oct 2014 | 9:06 am
    Hey Everyone, I know it has been a while since I last caught up with you all, but so far I am still studying hard for my Auditing Exam. I’ve been studying since early October, and I am being much...
  • The Waiting Begins

    Michael Palantone
    4 Oct 2014 | 6:04 pm
    So today I took what could potentially be my final CPA exam, BEC. It was tough, as usual, but I managed to get through it and can only hope for the best. Unfortunately because I took it at the beginning...
  • Work has begun!

    Danielle Miller
    1 Oct 2014 | 4:18 pm
    Hello Everyone, I am now an official full-time member of the working world! I started my job this Monday and so far I love it! This week and next week my small group of new hires and I will be...
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  • What is the coefficient of correlation?
    21 Oct 2014 | 5:50 am
    In simple linear regression analysis, the coefficient of correlation (or correlation coefficient) is a statistic which indicates the relationship between the independent variable and the dependent variable. The coefficient of correlation is represented by r and it has a range of -1.00 to +1.00. When the coefficient of correlation is a positive amount, such as +0.80, it means an increase in the independent variable will result in an increase in the dependent variable. (Also, a decrease in the independent variable will mean a decrease in the dependent variable.) When the coefficient of…
  • What is simple linear regression analysis?
    16 Oct 2014 | 9:01 am
    Simple linear regression analysis is a statistical tool for quantifying the relationship between just one independent variable (hence “simple”) and one dependent variable based on past experience (observations). For example, simple linear regression analysis can be used to express how a company’s electricity cost (the dependent variable) changes as the company’s production machine hours (the independent variable) change. Fortunately there is software to compute the best fitting straight line (hence “linear”) that expresses the past relationship between the…
  • What is a sunk cost?
    15 Oct 2014 | 9:36 am
    A sunk cost is a cost that was incurred in the past and cannot be undone. Since most transactions cannot be undone, most amounts spent in the past can be described as sunk. In other words, a past or sunk cost will be there regardless of what you decide to do today or in the future. To illustrate a sunk cost, let’s assume that a company spent $100,000 last year to purchase and install a machine. Today, a better machine is available for $80,000 and it will reduce expenses by $50,000 in each of the next 10 years. Now the old machine can be sold for just $10,000. When deciding whether to…
  • What is an asset’s useful life?
    14 Oct 2014 | 7:06 am
    An asset’s useful life is the period of time (or total amount of activity) for which the asset will be economically feasible for use in a business. In other words, it is the period of time that the business asset will be in service and used to earn revenues. Because of the advances in technology, an asset’s useful life is often less than its physical life. For example, a computer may be useful for only three years even though it could physically be operated for decades. The useful life (as well as the salvage value at the end of the useful life) are estimated amounts needed in the…
  • What is accelerated depreciation?
    13 Oct 2014 | 6:47 am
    Accelerated depreciation is the allocation of a plant asset‘s cost in a faster manner than the straight line depreciation. Compared to straight line depreciation, accelerated depreciation will mean 1) more depreciation in the earlier years of an asset’s life and 2) less depreciation in the later years of the asset’s life. [Note that the total amount of depreciation over the asset's life will be the same regardless of the depreciation method used.] Hence, the difference between accelerated depreciation and straight line depreciation is the timing of the depreciation. Three…
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    CPA Success

  • Your network equals your net worth: The power and importance of mentors

    21 Oct 2014 | 4:00 am
    You wanna know what’s on the minds of young professionals these days? Ask them. They’ll tell you. We have, time and time again. Every time Tom Hood steps in front of a crowd of CPAs, he asks them what’s on their minds. Here’s what they’re saying: Some of the biggest issues they’re dealing with these days involve personal development, growth, keeping up with change, and building valuable networks. Their solutions to those problems center on connections, communication, and collaboration. See the trend? Success today is all about people. It’s all about…
  • Peer review is under fire. 'Don't let it collapse'

    16 Oct 2014 | 9:05 am
    One of the pillars of the CPA profession is closing in on its 40th anniversary, and like many of us who pass the big 4-0, it’s going through a bit of a mid-life crisis. I’m talking about peer review. Its importance in ensuring audit quality has never been greater. Neither has the scrutiny it faces, and changes are on the horizon. “(T)he status quo is untenable,” Allison Henry writes for the Pennsylvania Institute of CPAs. “A variety of changes are being explored that could dramatically transform the current peer review program to a more rigorous practice…
  • Change is on the wind

    13 Oct 2014 | 4:21 am
    Many of you know that I am an avid (some might say obsessed) reader, and I always love the opportunity to meet the authors of books I am reading. Meet Cheryl Duvall, author of the just released book, Change is on the Wind: Managing Change for a New Landscape, who stopped by our new offices and signed my book. Cheryl and her husband, Dudley Whitney, led the design and change leadership process we used for our new, open, collaborative offices as we make the "shift change" at MACPA / BLI. She got to see the result of her work and our change process in our move to a smaller-footprint open…
  • Don’t give up. Get started. That’s where the real work begins

    8 Oct 2014 | 9:35 am
    Ever feel like you want to skip that workout? Blow off that meeting? Put off practicing that presentation? Of course you have. We all have. Our instincts tell us to stop doing stuff that stresses us out. Case in point: I’m a Detroit Lions fans. That’s a team that has won exactly two playoff games in the last 57 years. Giving up on the Lions is an annual rite of passage. Last December, after they lost six of their last seven games to miss the playoffs yet again, I grabbed my Lions sweatshirt and two Lions hats and threw them in the trash, vowing never to root for that sorry team…
  • We are all in sales now. Here is some help.

    9 Sep 2014 | 9:00 pm
    The U.S. Bureau of Labor Statistics estimates that one out of nine people are in official "sales" jobs, but something is happening with the other eight of us in today's workforce. We are all in non-sales sales jobs, according to Dan Pink.  That's right — non-sales sales jobs. In fact, the research says the other eight of us spend an average of 41 percent of our time "convincing people to give up something [in exchange] for something you have to offer.” That is an average of more than two days per week persuading, influencing, convincing others to "buy" our ideas,…
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    TSCPA Governmental Affairs

  • Comptroller Candidates To Have Limited Debate

    Bob Owen
    8 Oct 2014 | 2:35 pm
    Sen. Glenn Hegar and CPA and TSCPA member Mike Collier will square off in what may be the only debate between the two candidates at 7:00 PM on Oct. 29, 2014 in Austin.  That's ten days after early voting begins.  Outside of the Austin area Texans will only be able to view the debate on Time Warner Cable or watch it online.  It's scheduled to last thirty minutes.  See the details in this Dallas Morning News Trailblazer blog, including the online link to view the debate.
  • Road funding on the Nov. 4th ballott

    Bob Owen
    15 Sep 2014 | 8:55 am
    Everyone, at least everyne who reads this bolg, knows that Texans will go to the polls on Nov. 4th to elect all our statewide officials and most of our state legislators; but much of the public is probably unaware that road funding is on the same ballot. During the last session legislators voted to submit a constitutional amendment to the voters to forever use a portion of the Rainy Day Fund to retire road debt and build more roads.  The Fort Worth Star-Telegram has a good article and explanation of what's being proposed and the consequences if the amendment fails to pass. …
  • Senator Charles Perry comments on his election and what's to come

    Bob Owen
    12 Sep 2014 | 8:38 am
    CPA and TSCPA member and now Senator Charles Perry, who won the Senate District 28 special election handily, comments on his hopes and plans for service in the Senate.  He talks about some of the important relevant issues and his hopes for Senate committee assignements.  Read it all in the Amarillo Globe News.
  • A quote reflective of our times

    Bob Owen
    12 Sep 2014 | 8:29 am
    As published in Texas Weekly: "If a Republican says it, a Democrat has to disagree. And if a Democrat says it, a Republican has to disagree. And we’re in really sorry shape. Politicians are not serving you well." Land Commissioner Jerry Patterson on the impasse on immigration and other hot button political issues.  
  • CPA Charles Perry wins Senate District 28 special election

    Bob Owen
    10 Sep 2014 | 1:58 pm
    CPA and TSCPA member Rep. Charles Perry (R-Lubbock) is now Senator Perry.  He won the special election without a runoff in a field of six candidates getting 53% of the votes with his closest competitor at 30%.  According to the Texas Tribune "Of the district's 51 counties, Perry broke 50 percent in 42 of them.  You can read more about the election results in the TT article. Perry was endorsed by TSCPA-PAC.  CPAs will be glad to have a CPA in the Senate once again.  Sen. Tommy Williams, a CPA and TSCPA members, resigned his senate seat late last year.
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    CPA Technology Blog


    Brian Tankersley
    1 Oct 2014 | 7:35 am
    FOR IMMEDIATE RELEASE October 1, 2014 - K2 Enterprises has released their annual technology awards for 2014. “It was quite interesting this year as there were no unanimous winners. There were votes for many solutions. We did have some repeat...
  • Recent Software Company M&A Activity

    Brian Tankersley
    22 Sep 2014 | 10:03 am
    As readers of this blog know, the only constant in the accounting technology space is change itself. With that in mind, I wanted to let you know about some recent acquisition announcements in the accounting space. SAP to Acquire Concur-...
  • CPA Firm App Compatibility With Office 2013

    Brian Tankersley
    4 Aug 2014 | 1:01 pm
    My “crib notes” on compatibility of key accounting firm apps with Office 2013 – and the related vendor web pages which provided the data are as follows: · QuickBooks (Source: Back year versions of QB have issues – especially...
  • State Sales Tax Holidays Infographic

    Brian Tankersley
    25 Jul 2014 | 9:37 am
    A summary of the state Sales Tax holidays appears below, courtesy my friends at CCH/Wolters Kluwer. Let’s be careful out there, people – shopping is NOT a contact sport.
  • Guest Blog Post: “The Tale of the Shark and the Minnow”

    Brian Tankersley
    24 Jul 2014 | 5:10 am
    The Tale of the Shark and the Minnow - a guest post from Sage where you have a chance to win some pampering and SPA TIME paid for with OPM - "Other People's Money". Spend wisely, people.
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    CPA Trendlines

  • Beyond Money Alone: How College Accounting Students Choose Their First Job

    20 Oct 2014 | 5:27 am
    EY and UT Austin top professors poll. In considering job offers from competing accounting firms, the most highly sought-after students weigh three criteria equally, and it doesn’t much matter whether the offer is for big money or whether it’s from a Big Four firm anymore, according to a leading survey of several hundred college accounting professors. Students […]
  • When You’ve Retired, How Do You Get Your Money?

    Beth Bellor
    20 Oct 2014 | 2:00 am
    9 factors that ensure retirement plans will pay off. By Marc Rosenberg Retirements & Buyouts When a partner group crafts their firm’s partner retirement plan, they are hopeful that the plan will play an important role in their financial futures. They are guardedly optimistic that their buyouts will be realized. But the path toward the […]
  • 6 Ways to Know What You Don’t Know

    Beth Bellor
    20 Oct 2014 | 2:00 am
    By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: Occasionally I get a new client in an area I am unfamiliar with. How do I find out what I do not know? RESPONSE: This happens to everyone and probably more often than we expect. Thankfully we will continue to get new business and getting clients in areas […]
  • Wireless Is Hot, and Here’s How to Handle It

    Beth Bellor
    20 Oct 2014 | 2:00 am
    What you need to know to go from Wi-Fi to Mi-Fi. By Roman H. Kepczyk Quantum of Paperless One of the revolutions in remote connectivity is happening within your cellphone, as digital cellular providers have beefed up and expanded their networks to provide reliable Internet access to remote devices. About 94 percent of firms utilize smartphones […]
  • 29 Tips to Become a Top Achiever

    Beth Bellor
    19 Oct 2014 | 2:00 am
    It’s easy to get discouraged. Here’s how to not let it happen to you. Courage and perseverance are traits you can actually nurture and develop. From the financial advisors’ advisor, here are 29 tips compiled from top achievers. Try one today. Remember something a friend said when I suggested I couldn’t handle a particular […]
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  • Accenture’s new mobile Navy maintenance system will enable real-time collaboration for ship-shape readiness

    22 Oct 2014 | 4:15 am
    By Rob Starr, Content Manager   A new maintenance system being developed by Accenture Federal Services for the U.S. Navy will incorporate real-time collaboration between workers and supervisors/engineers so U.S. Department of the Navy’s shipyard maintenance operations can increase efficiency. The electronic Technical Work Documents (eTWD) system is based on tablets containing up-to-date information and instructions for performing and documenting maintenance activities and w...Keep on reading: Accenture’s new mobile Navy maintenance system will enable real-time collaboration…
  • Former PwC Director connects the dots between success, advancement and health with business venture and book

    20 Oct 2014 | 10:43 pm
    By Rob Starr, Content Manager Emmanuelle Galland successfully climbed some of the largest rungs on the Big4 ladder before turning her attention to being an entrepreneur, and her corporate success had a distinctively international flair. “I was born and raised in France,” she told recently. “I got my MBA and started with [caption id="attachment_39768" align="alignright" width="283"] Emmanuelle Galland[/caption] PwC in Sweden and then I went to Switzerland on a t...Keep on reading: Former PwC Director connects the dots between success, advancement and health with business…
  • Industrial Internet Strategy Must Urgently Embrace Big Data Analytics: New Survey from GE and Accenture

    19 Oct 2014 | 10:29 pm
    By Rob Starr, Content Manager Eighty-eight percent of executives polled call big data analytics a top priority while less than one-third of companies have predictive analytics at their disposal. Matt Reilly, Senior Managing Director, Accenture Strategy, helps us understand the bigger takeaways from the recent  Industrial Internet Insights for 2015 survey.   Although it’s obvious from the report that big data is a necessary tool for business, security remains an obstacle. Why ...Keep on reading: Industrial Internet Strategy Must Urgently Embrace Big Data Analytics: New Survey from…
  • PwC’s “Gut & gigabytes: Capitalising on the art & science in decision making,” highlights the Moneyball approach

    16 Oct 2014 | 10:47 pm
    By Rob Starr Content Manager It’s not very often you can draw a line from a popular movie about America’s favorite pastime that pits instinct and experience against data and analytics to a PwC survey seeking to uncover the importance of modern innovations in executive’s decision making processes. So when the latest work from PwC in collaboration with The Economist Intelligence Unit found, among other things, highly data-driven companies are three times more likely to report ...Keep on reading: PwC’s “Gut & gigabytes: Capitalising on the art & science in decision…
  • EY’s Managing operational tax risk report looks at the people, processes and technologies companies are using to manage tax risks

    16 Oct 2014 | 9:43 am
    By Rob Starr, Content Manager Operational tax risk can be controlled internally within any business and yet taxes continue to be the most prevalent cause of US GAAP failures since 2005. As well, SEC filings show more than half of the material weaknesses reported in America are driven by poor personal and/or process execution and lack of review. Gary Paice, Americas Leader, Tax Performance Advisory at EY, is an author of EY’s report seeking to help firms right any issues they hav...Keep on reading: EY’s Managing operational tax risk report looks at the people, processes and…
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    Success Starts Here

  • Meet McGladrey's Working Father of the Year

    13 Oct 2014 | 1:45 pm
    If you need moving boxes or advice on building a career in assurance, Joe Lee’s your guy. The trick will be finding an open slot on the calendar of McGladrey’s first-ever Working Father of the Year.  Joe started as an assurance associate with McGladrey in 2005 shortly after graduating from Illinois State University. He and wife, Kristen, married the same year and their family grew nearly as quickly as his career. The couple’s first set of twins arrived in 2009, another pair came along three years later and they welcomed a fifth child this summer. Now an assurance senior…
  • McGladrey Named to 2014 Working Mother 100 Best Companies List

    17 Sep 2014 | 8:09 am
    McGladrey is excited to announce that we were recently named by Working Mother magazine as one of the publication’s 2014 Working Mother 100 Best Companies. Working Mother recognized companies for outstanding leadership in establishing policies, programs and corporate culture that supports working moms, including child care, flexible work arrangements, paid parental leave and advancement of women. Companies are also measured on access to and use of family-friendly programs. “We are honored to receive this recognition for the eighth year,” said Richard Caturano, McGladrey’s…
  • ALPFA Exposed

    16 Sep 2014 | 2:07 pm
    by Nelly Montoya, Assurance Senior Associate, San Franciscoand Michael Gerlach, Assurance Director, ChicagoThe 2014 installment of the Annual ALPFA Convention was held August 2-6 in Lake Buena Vista, FL. Under the direction of Rich Caturano, McGladrey leadership chose approximately 25 professionals to represent the firm at the convention to learn more about the importance of diversity and inclusion, increase the familiarity of McGladrey in the professional and educational environments, and get to know the professionals and students attending. We were two of the lucky attendees that…
  • McGladrey Presence at the National Association of Black Accountants (NABA)

    10 Sep 2014 | 6:41 am
    McGladrey helped NABA celebrate bright young stars and future personalities of the profession during it’s annual Conference. Rich Caturano, McGladrey partner and leader of the National Culture Diversity and Inclusion initiative spoke at the NABA Leadership Breakfast. Rich gave compelling remarks on what leadership means using real world examples which delighted the accomplished and emerging leaders in attendance. McGladrey principal, Tyrone Beasley led a the Opening Forum Discussion to an audience of hundreds of attendees on Discovering and Nurturing Top Talent. And McGladrey employees of…
  • McGladrey kicks off Birdies Fore Love

    26 Aug 2014 | 10:52 am
    By Teresa Carlin National Leader of McGladrey’s Birdies Fore Love programTeresa CarlinI have played golf since I was 5 years old and have been around the game my whole life. Most of my family vacations have centered around either playing or watching golf, from the junior and collegiate levels to the pros. One of the things that I have always witnessed as a theme of the sport is philanthropy. The McGladrey Classic was one of my very first and strong attractions to McGladrey as a company. Not only does the tournament provide a terrific platform for playing and watching a game I love, but…
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    Stacie's More Tax Tips

  • HCTT-2014-21: Information for Employers about Their Responsibilities Under the Affordable Care Act

    Stacie Clifford Kitts
    16 Oct 2014 | 11:14 am
    f you are an employer, the number of employees in your business will affect what you need to know about the Affordable Care Act (ACA). Employers with 50 or more full-time and full-time-equivalent employees are generally considered to be “applicable large employers” (ALEs) under the employer shared responsibility provisions of the ACA.  Applicable large employers are subject to the employer shared responsibility provisions.  However, more than 95 percent of employers are not ALEs and are not subject to these provisions because they have fewer than 50 full-time and full-time-equivalent…
  • Top ten things accountants know

    Stacie Clifford Kitts
    16 Oct 2014 | 2:56 am
    Filed under: FUN VIDEO
  • Math bus ITS TAX TIME

    Stacie Clifford Kitts
    16 Oct 2014 | 2:36 am
    Math Bus: Tax Season – watch more funny videos Filed under: FUN VIDEO
  • Street Accountants – city claims it ain’t right

    Stacie Clifford Kitts
    16 Oct 2014 | 2:16 am
    Filed under: FUN VIDEO
  • When I grow up

    Stacie Clifford Kitts
    16 Oct 2014 | 2:08 am
    Filed under: FUN VIDEO
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    The Student CPA

  • Vanquishing the CPA Exam Without Breaking the Bank

    6 Oct 2014 | 4:00 am
    I am a frugal person by nature, so when I set out to pursue the CPA designation back in the Fall of 2011, I intended to devise an exam preparation strategy that would allow me to pass each section of the CPA Exam on the first attempt and do so at the lowest cost possible. […]
  • Audit Practice-Less Arthur Andersen Is Back from Damnation

    2 Sep 2014 | 8:56 pm
    Vorsatz says the firm will go by Andersen Tax from now on, and it will draw lessons from both the rise and the fall of the old Andersen. He’s hoping to restore the old firm’s reputation for ethics and integrity. And, he says, his firm’s focus will continue to be narrower than the old Andersen’s […]
  • CPA Exam Review Spotlight (FAR): Accruals and Deferrals

    31 Aug 2014 | 1:00 pm
    When it comes to accounting, timing is everything. Accruals and deferrals are two of the practices through which both the revenue recognition and the matching principles are applied.  Those principles of accounting are two of the pillars on which accrual accounting (i.e., U.S GAAP) stands. So let us examine further what accruals and deferrals are […]
  • CPA Exam Review Spotlight (FAR): Installment Sales Method

    26 Aug 2014 | 6:30 pm
    Based on some of the accounting literature I reviewed in preparation of this spotlight on the installment sales method, one of the most challenging issues accountants deal with is the proper recognition of revenue related to the operations of a business concern. While a good number of general rules and guidelines have been developed to […]
  • CPA Exam Review Focal Point (FAR): Converting from Cash to Accrual Accounting

    22 Aug 2014 | 4:00 am
    “Converting from Cash Basis to Accrual Basis Accounting” is the first installment in a long series of blog posts geared toward deconstructing the most likely topics you may be tested on when you take the Financial Accounting and Reporting (FAR) section of the Uniform CPA Exam. Candidates are likely to get questions about this topic […]
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    One Accounting

  • Understanding the Construction Industry Scheme (CIS) tax

    Chris Thomas
    22 Oct 2014 | 5:53 am
    If you are a contractor in the construction industry it is essential that you deduct the right amount of Construction Industry Scheme (CIS) tax from payments you make to subcontractors. A common misunderstanding about the CIS is that deductions of CIS tax only have to be made from labour costs. This is not the case, but it may work out like that in practice. HMRC’s instructions are clear, the contractor must deduct the following cost items as listed on the subcontractor’s invoice before applying the appropriate rate of CIS tax (20% or 30%) to the net amount: VAT charged; CITB levy…
  • Creating Extra Cash-flow

    Chris Thomas
    16 Oct 2014 | 6:56 am
    Could your creative company benefit from a boost to its cash flow? If it produces computer games, films, high-end TV or animation programmes, it may qualify for a new payable tax credit. All of these products can qualify for extra tax relief if they can be certified as culturally British, and at least a quarter of the core production costs are incurred in the UK. There are some other conditions: only businesses trading as companies can qualify for the tax relief, not individuals or partnerships; and the product must be intended for release to, or to be broadcast to, the general public, not…
  • VAT on International Services

    Chris Thomas
    10 Oct 2014 | 1:56 am
    When you sell services to businesses in other countries, the sale will generally be outside the scope of UK VAT. You don’t charge VAT on your invoice, but you need to report the value of that sale as part of the total in box 6 on your VAT return. There are exceptions to this general rule for services connected to land, live performances, catering or passenger transport. If the sale is to a VAT registered business in another EU country the sale must also be reported on your EC Sales list. If your customer is not a business, or is not VAT registered, the sale should not be included on the…
  • Scottish Taxes

    Chris Thomas
    1 Oct 2014 | 5:53 am
    The Scottish people have spoken and the majority have decided they want Scotland to remain part of the UK. However, that doesn’t mean everything will remain the same. We already know there will be two new taxes in Scotland from 1 April 2015, and a variation to income tax rates for Scottish taxpayers from 6 April 2016. If you are planning to buy land or buildings in Scotland, you should be aware that the tax you will pay on top of the purchase price is currently uncertain for completion dates on or after 1 April 2015. This is because Stamp Duty Land Tax (SDLT) will be replaced by Land…
  • After the Vote – What it means for Small Businesses

    Chris Thomas
    17 Sep 2014 | 8:03 am
    Special Referendum Webinar Monday 22nd of September 2014, 10.30 am -11 am    The Referendum debate is gripping the whole of the UK as we edge ever closer to the vote on Thursday 18th September. Will a ‘Yes’ vote see Scotland leaving the UK for good, or will a ‘No’ vote retain our country in the Union with the prospect of more powers devolved from Westminster? We are running a special post-vote Webinar on Monday 22nd September at 10.30am. Put simply, we will be explaining what the result will mean for business owners across Scotland and the rest of the UK. The content will of…
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  • How to Create a Life You Don’t Need to Escape From

    Jonathan Milligan
    29 Sep 2014 | 8:00 am
    Why are we so busy? “I’m so busy, I met myself coming back!” One of my high school English teachers used to always use that phrase in class. Have you ever taken the time to analyze why you feel so busy? Is it a good busy or a bad busy? And why do we feel the need to escape from our busy schedules? After coming back from a weekend church retreat, my wife and I sat down to analyze our busy lives. Later, I’ll walk you through the steps we took to get to some clarity. Bonus Content: Want to be less busy? I’ve created a special 5-page worksheet for you called: Escape…
  • The One Word That Catapulted the Direction of My Business

    Jonathan Milligan
    22 Sep 2014 | 6:15 am
    At the end of 2012, I knew some things were going to have to change in my business. What got me to where I was, wasn’t going to get me to the next level. Fear led to doubt, doubt led to confusion, and confusion led to inaction. Have you been there? BONUS CONTENT: I’ve created a PDF that walks you through a 30 day plan for launching your own mastermind group. You can get it at the end of this post or grab a copy of this guide now. Even though I had built a bridge from my day job to my dream job, I felt a bit uncertain on how to get to the next level. Since it was the end of the…
  • 3 Powerful Reasons You Need to Be in a Mastermind Group

    Jonathan Milligan
    15 Sep 2014 | 11:15 am
    In 2010, on this very blog I created an 16-week online course for job seekers. It was my first real attempt at creating passive income beyond Google Adsense. While I had surveyed my audience to understand their needs, I still had many self-limiting doubts on how I was going to pull this off. BONUS CONTENT: I’ve created a PDF that walks you through a 30 day plan for launching your own mastermind group. You can get it at the end of this post or grab a copy of this guide now. Some of the thoughts I had were: You don’t have enough readers and subscribers to do this You lack the…
  • How to Capitalize on Your Next Aha Moment

    Jonathan Milligan
    8 Sep 2014 | 9:30 am
    It often comes out of nowhere. It will surprise you. It’s one of those moments that require a smack to the forehead. It should have been obvious, yet it wasn’t. It shouldn’t be this simple, yet it is. BONUS CONTENT: I’ve created a PDF that walks you through a 30 day plan for launching your own mastermind group. You can get it at the end of this post or grab a copy of this guide now. It’s an aha moment. We call it a “Mastermind Moment.” These special moments come from community. The more you hangout with other passionate people, the more you’ll…
  • Have You Ever Had a Mastermind Moment?

    Jonathan Milligan
    3 Sep 2014 | 3:00 am
    No one likes the feeling of being stuck, yet each of us have been there. You’re in a fog. A string of cloudy days one after another. Then, it happens. A thought, comment, or suggestion sparks an idea. The fog begins to lift and for the first time in awhile clarity comes to visit. BONUS CONTENT: I’ve created a PDF that walks you through a 30 day plan for launching your own mastermind group. You can get it at the end of this post or grab a copy of this guide now. I like to call these “mastermind moments.” I call them mastermind moments because they often take place on…
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    Invoice Factoring Companies | Factoring Invoice | Accounts Receivable Factoring for

  • The Best Factoring Companies

    Heather Burford
    22 Oct 2014 | 10:36 am
    When factoring invoices, most accounts receivable factoring companies will assign a value to the invoices they are looking to purchase. The difference between good factoring companies and the best factoring companies is they offer one low rate for all of … Continue reading →
  • Invoice Factoring Basics

    Heather Burford
    20 Oct 2014 | 11:32 am
    Factoring is a term used to refer to a financial transaction used by companies throughout the world to liquidate invoices for products or services sold to customers on credit. They sell these invoices to a third party known as a … Continue reading →
  • Accounts Receivable Finance – Alternative Ways to Fund a Business

    Heather Burford
    17 Oct 2014 | 10:20 am
    For those looking for an alternative way to fund business operations or expand your business, accounts receivable finance provides a way for companies to turn their open invoices into immediate cash. The process is fast and easy and doesn’t require … Continue reading →
  • Invoice Factoring – Get the Business Cash you Need

    Heather Burford
    16 Oct 2014 | 8:51 am
    Businesses that sell to big box retailers have found that in order to remain competitive in today’s market, they have to offer credit terms to their customers. These terms allow customers to purchase goods today and provide payment at a … Continue reading →
  • How to Get Paid for Invoices Faster

    Heather Burford
    10 Oct 2014 | 11:30 am
    As a business owner, you have probably wondered how to get payment for issued invoices faster. Receivables financing is a viable alternative to traditional loans and other forms of commercial financing and can help you get paid for your invoices … Continue reading →
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    Intuit News Central

  • Martha, Arianna and an Entrepreneur Focus: Afternoon Sessions From QuickBooks® Connect

    Bryan Cytron
    22 Oct 2014 | 5:56 pm
    The afternoon main stage session of Intuit’s QuickBooks Connect in San Jose on Oct. 22, 2014, kicked off with a bevy of highly successful motivational speakers, including Martha Stewart, Arianna Huffington, Giuliana Rancic and Marc Andreessen. Onlookers witnessed how the speakers talked about their personal journeys. Each speaker offered some inspirational messages and ideas into ways you can become a better entrepreneur and succeed in business.. Here are some of the quotes from the speakers: “I’m a very curious person, and that curiosity is at the basis of all the things I…
  • Magic, Inspiration and More: Headliners Delight at QuickBooks® Connect

    Bryan Cytron
    22 Oct 2014 | 10:46 am
    Led by a handful of powerful and inspirational speakers, including Earvin “Magic” Johnson, Bill Rancic, Brad Smith and Debbie Sterling, the morning session at Intuit’s QuickBooksConnect in San Jose on Oct. 22, 2014, gave us a glimpse into the lives of these successful entrepreneurs and businessmen and women, as well as insight into how they were able to ascend to the top of their profession. In a room filled with accountants, small business owners and their staffs, developers and Intuit partners, the place was buzzing, hanging on every word these industry pioneers said.
  • New Partnership With Box Enables Secure Document Sharing Inside QuickBooks® Online

    Scott Cytron
    22 Oct 2014 | 6:00 am
    Intuit has partnered with Box to deliver a new document collaboration center directly inside QuickBooks Online Accountant. The partnership is the latest example of how the QuickBooks ecosystem delivers on the promise of the small business cloud by offering the full range of business management tools that integrate seamlessly together. “Our partnership with Box is all about strengthening the relationship between small businesses and accounting professionals by making it easier than ever to share information,” said Dan Wernikoff, senior vice president and general manager of Intuit’s Small…
  • Coming in Early December: The New QuickBooks® Online Accountant and the New QuickBooks ProAdvisor® Program!

    Luis F Sanchez Castillo
    21 Oct 2014 | 7:45 am
    Becoming a QuickBooks ProAdvisor has never been easier, thanks to recent changes in our program. If your goal is to serve online clients only, our program was designed to elevate your practice. In fact, the number of online benefits included is incredible … you can’t afford not to consider it to grow your practice. The changes to the program were announced during QuickBooks Connect. The new program affects current ProAdvisors and non-ProAdvisors as well. Here’s a summary of the various changes; watch your email and, over the next few months, read more stories about these changes…
  • New Quickbooks® Online Accountant Revealed at QuickBooks Connect Conference

    Scott Cytron
    21 Oct 2014 | 6:00 am
    One of the big announcements at Intuit’s QuickBooks Connect Conference in San Jose focused on the new QuickBooks Online Accountant (QBOA). “The biggest moment for accounting professionals in QuickBooks history has arrived,” said Jim McGinnis, vice president, Intuit Accountant and Advisor Group. “The reimagined QBOA is inspired by our accounting partners because they’ve told us it is all about their time. It’s their time to move to the cloud and be recognized as trusted advisors and experts to their small business clients. We’re delighted to provide the solution that…
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    AICPA Insights

  • The Science Behind Social Security Benefits Calculations

    Theodore J. Sarenski, CPA/PFS
    20 Oct 2014 | 4:00 am
    While the Social Security Administration calculates Social Security benefits, it is your due diligence to know the basics so that you can understand how an additional year of earning will affect your clients’ projected benefit. Some people think Social Security benefits are complicated to figure out; in actuality, it’s pretty straightforward. Social Security benefits are computed through this two-step process: Compute the average indexed monthly earnings, called AIME. Compute the primary insurance amount, based on the AIME. AIME Breakdown For each year in which a person has taxed Social…
  • Updates from AICPA Fall Council 2014 #AICPAGC14

    AICPA Communications
    19 Oct 2014 | 11:30 am
    The AICPA governing Council’s fall 2014 meeting is taking place this week, Oct. 19 to 21. Updates will be provided on several important issues to the CPA profession, including management accounting, the CPA Exam, ethics and audit quality. Arleen Thomas, CPA, CGMA, AICPA Senior Vice President Management Accounting and Global Markets, will highlight important milestones leading to 2015 for the Chartered Global Management Accountant designation and explore the evolution of the Uniform CPA Examination. Susan Coffey, Senior Vice President – Public Practice & Global Alliances, will update…
  • Getting to the Bottom Line about Contingent Fees

    Edward Karl, CPA
    16 Oct 2014 | 4:00 am
    "Intaxication: Euphoria at getting a refund from the IRS, which lasts until you realize it was your money to start with." Unknown, from a Washington Post word contest When is a CPA practice not "practice before the Internal Revenue Service?" And if it is not practice before the IRS,  does that mean it’s okay to use contingent fees in a client arrangement? Why do I write about this topic now?  This past July, the U.S. District Court for the District of Columbia issued an opinion (Ridgely v. Lew) that takes a significant strike at IRS’s ability to regulate contingent fee…
  • How to Pass the CGMA Exam? Practice, Practice, Practice

    Arleen Thomas, CPA, CGMA
    14 Oct 2014 | 5:20 am
    New Year’s Eve is one of the few holidays celebrated almost universally in countries around the world, with parties, champagne toasts, and fireworks. This year, December 31 will also be a key date for management accounting professionals. That’s because it marks the final day that AICPA voting members who meet relevant experience requirements are exempt from the upcoming CGMA exam. The exam’s unique strategic case-study format is designed to assess problem-solving skills in real-world business situations and test a broad range of competencies defined as crucial by businesses around the…
  • The New Realities of Referral Marketing for CPAs

    Guest Blogger
    9 Oct 2014 | 4:00 am
    CPAs and other financial services firms largely rely on referrals to grow their client base and stay in business. This business model has worked for a countless number of years. However, the way clients make decisions has changed, which affects your rate of referral. Under the new model, a referral is only the first step. Used the right way, technologies like websites, email and social media can energize your current client base to make referrals and increase the conversion rate of referral prospects. There is no longer one linear funnel for client referrals, but rather a series of…
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    OSYB Number Crunch! Bookkeeping Tips from Outsouce Your Books.

  • Big Business Intelligence Hacked: Using Your Numbers for Success

    OSYB Staff
    22 Oct 2014 | 10:01 pm
    Business intelligence is really just the process of learning more about your business by analyzing the numbers and doing something with that knowledge. This concept has been blown up and scrutinized repeatedly by executives, consultants and professors—and for good reason. It can have a HUGE impact on your business, regardless of its size.
  • Are You Getting the Most from Your Accountant?

    OSYB Staff
    22 Oct 2014 | 10:01 pm
    While an accountant can be an invaluable resource to help your business leverage all possible tax-reduction strategies, the cost of isn’t always justified — or necessary. We spoke to a number of accountants and small-business owners to get their insider tips on working with an accountant. Read more here. 
  • 6 Common Financial Mistakes to Avoid in Your First Year

    OSYB Staff
    21 Oct 2014 | 10:00 pm
    According to the SBA Office of Advocacy only half of new businesses survive for at least five years, and only a third of them make it for 10 years or more. With odds like that, you’ve got to do everything you can to increase your chances of success. Read more here. 
  • More people prefer a male boss

    OSYB Staff
    21 Oct 2014 | 10:00 pm
    “Women are not growing and scaling as much as they should be,” said Amanda Brown, executive director of the National Women’s Business Council. “It’s no surprise that women would prefer to work for male bosses, when they stick to what they know.” Why do people prefer male bosses? Read more here. 
  • Accounting for the Numberphobic; Book Rally!

    OSYB Staff
    20 Oct 2014 | 10:00 pm
    Come join the book rally, Accounting for the Numberphobic with Dawn Fotopulos. Knowing your numbers can change the future of your small business. Celebrate with us at The King’s College in New York City at 7 pm Eastern Standard Time. If you miss this event take the Ultimate small business crash course. 
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    C/F/R - Cross, Fernandez & Riley, LLP

  • The Science of Customer Retention

    20 Oct 2014 | 9:13 am
    You’ve probably heard the old adage that it costs more to get a new customer than it does to keep an existing one. Not only are new customer acquisition costs higher, but successful customer retention helps to strengthen your brand identity and business reputation.
  • Increase Your Sales with Small Steps

    13 Oct 2014 | 9:28 am
    Keeping the big picture in mind can help you get a larger bottom line.
  • Revive Your Brand!

    6 Oct 2014 | 8:59 am
    The startup world can be rough. Some speculate that 8 out of 10 businesses fail in the first 18 months, while others believe the number is closer to 90 percent.
  • Keep the Recruiting Ball Rolling

    29 Sep 2014 | 9:04 am
    Recruiting: it takes time, energy and focus. It may feel like it’s unproductive for the company since it takes a while for the fruits of your labor – the new hire’s training, acclimation and productivity – to appear.
  • Managing Your Employees’ Social Media Use On and Off the Clock

    22 Sep 2014 | 11:08 am
    With the pervasiveness of social media, it’s likely that many of your employees are connected to a variety of social media outlets during work and personal time. This leaves business managers with concerns regarding how they should manage their employees’ usage of social media at work, what potential issues could arise from their actions, and how to mitigate their risks.
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    Presti & Naegele

  • October 2014 Compliance Calendar

    Wayne Naegele
    9 Oct 2014 | 7:37 am
    As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of October 2014. October 1 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates September 24–26. October 3 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates September 27–30. October 8 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates October 1–3.
  • September 2014 Newsletter

    30 Sep 2014 | 8:01 am
    Andy Presti discusses the benefits of fall planning for spring savings. The post September 2014 Newsletter appeared first on Presti & Naegele.
  • Partnerships’ exposure to net investment income tax not always clear cut

    Steve Grgas
    26 Sep 2014 | 6:00 am
    The net investment income (NII) tax under Code Sec. 1411 is imposed on income from investments, certain sales of property, and income from passive activities. NII includes net gains from the sale of property, unless the property is held in a non-passive trade or business. If the property sold is a non-passive interest in a partnership or S corporation, gain from the sale of the interest is NII only to the extent that income from a deemed sale of the entity’s property would be NII. The IRS totally rewrote the regulations for the disposition of interests in a partnership or S corporation,…
  • Employers get first look at health insurance information reporting

    Joseph Romano
    26 Sep 2014 | 5:59 am
    Since passage of the Affordable Care Act, several key requirements for employers have been delayed, including reporting of health coverage offered to employees, known as Code Sec. 6056 reporting. As 2015 nears, and the prospects of further delay appear unlikely, employers and the IRS are preparing for the filing of these new information returns. Three related provisions Three provisions of the Affordable Care Act are closely related: the employer mandate for applicable large employers (ALEs), the Code Sec. 36B premium assistance tax credit and Code Sec. 6056 reporting. To administer the…
  • Fall is the new spring for tax savings

    Andrew Presti
    26 Sep 2014 | 4:26 am
    How planning now can yield big savings next April Unless you happen to be an accountant, you probably don’t like to spend a lot of your time thinking about taxes. Let’s face it. Even CPAs know that there are many things more interesting than tax planning and compliance. Yet while taxes may seem a bit tedious, you may be interested in the possibility of keeping more of your hard earned money. So while taxes may not get your juices flowing, it just might be worth your time to take a little closer look at opportunities to minimize your upcoming tax bill. When is the right time to plan for…
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    It's Taxing - Bond Beebe

  • Virginia Recognizes Same-Sex Marriages for Tax Purposes

    16 Oct 2014 | 11:43 am
    Last year, The Supreme Court ruled in United States v. Windsor that same-sex married couples could be treated as married under federal law.  This had broad implications for US federal taxes for same-sex married couples, but at the state level the laws continued to vary state by state.  When the IRS issued its guidance, they clarified that for tax purposes the IRS would recognize any marriage entered into legally in a state that allowed the marriage, regardless of current residence.  In states like Maryland or the District of Columbia, which allowed same-sex marriages to
  • Tax Principal Brian Wynne Discusses How Your Tax Filing Status Affects What You'll Pay

    12 Sep 2014 | 6:36 am
    Bond Beebe Principal, Brian Wynne, was recently quoted in a Business Insider article about common life changes and how they affect your tax bill.  Click Here for the full article.
  • Inherited IRA's Not Protected from Bankruptcy

    25 Aug 2014 | 6:53 am
    It is now official that inherited IRAs are not considered “retirement funds” within the meaning of federal bankruptcy law and therefore are not exempt from a bankruptcy estate. This ruling was handed down by the Supreme Court in the case of Clark, et ux v. Rameker on June 12, 2014. Typically, retirement funds (IRAs and Roth IRAs) are exempt from a bankruptcy estate and therefore shielded from creditors in bankruptcy. This was done to help debtors to provide for their retirement, even after bankruptcy. However, the Supreme Court ruled that inherited IRAs do not qualify as retirement funds.
  • Retirement Planning: Roth vs. Traditional 401(k) Plans

    23 Jun 2014 | 8:04 am
    This post was written with the assistance of Ashleigh Zeller from the Firm's Benefit Plan sector.  With many employers now offering a Roth 401(k) component with their retirement benefits, you may be wondering which option works best for your retirement planning purposes. Like most questions involving tax planning matters, the answer is rarely straightforward. In this post, we’ll look at the differences between Roth and traditional 401(k) plans, as well as Roth IRA and Roth 401(k) plans, and cover some of the tax consequences you
  • Hiring your Children in your Business – It’s Not So Taxing

    18 Jun 2014 | 7:30 am
    If you own a business, employing your child can be a great opportunity to teach valuable lessons about earning, saving and hard work. It is also an excellent tax-savings strategy for you and your child. However, before you bring your college kid on your payroll for the summer, there are a number of regulations and savings strategies to keep in mind.
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    Investment and Small Business Accountants

  • Dysfunctional Behaviours of Budgetary Control Systems

    28 Sep 2014 | 12:59 pm
    Dysfunctional behaviours in budgetary control system are those suboptimal decisions that managers make just to ensure that they meet targets and get their bonus. The essence of budgeting which includes motivation of managers will be defeated if proactive action is not taken at both the design stage and implementation stage of budgetary control system. The […]
  • Automate Accounting but Humanize it| Accountancy Will Lose Human Face if…

    21 Sep 2014 | 3:07 am
    The use of IT in accounting and finance is continuing to grow as business leaders constantly strive for excellence in business processes. And there is always a danger of over doing anything that we do in life. Virtually every accounting and business functions are now automated which is a good thing but are being misinterpreted […]
  • Cost Accounting in the New Era

    19 Sep 2014 | 12:16 pm
    Cost accounting in the new era has completely moved away from the simple act of identifying direct costs, indirect costs and overhead, then using the traditional cost allocation method to allocate the costs. I remember the good old days when cost accounting was all about collecting prime costs and overhead costs, apply some simple arithmetic […]
  • What is Strategic Management Accounting? Meaning and Characteristics

    13 Sep 2014 | 3:24 am
    Strategic management accounting and control is a relatively new paradigm in the field of management accounting. This new perspective of management accounting and control system was made popular as a result of the criticism levelled on the traditional management accounting by both academia and professionals in the late 1980s and early 1990s. The intense competition […]
  • How to Write Effective Business Requirements as an Accountant

    9 Sep 2014 | 12:52 pm
    Nowadays, accountants are called upon by businesses to play significant role in system migration and other major business turnaround programmes.  Business requirements are those deliverables that a project must convey if value is to be added, without it, measuring the success or failure of a project will be difficult. Organizations constantly challenge finance professionals to […]
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    Goldin Peiser & Peiser, LLP

  • The Science of Customer Retention

    20 Oct 2014 | 10:09 am
    You’ve probably heard the old adage that it costs more to get a new customer than it does to keep an existing one. Not only are new customer acquisition costs higher, but successful customer retention helps to strengthen your brand identity and business reputation.
  • Increase Your Sales with Small Steps

    13 Oct 2014 | 11:07 am
    Keeping the big picture in mind can help you get a larger bottom line. Large sales sometimes happen with little efforts, including asking for referrals, using a team approach to sales and re-purposing work you’ve already completed.
  • Revive Your Brand!

    6 Oct 2014 | 9:48 am
    The startup world can be rough. Some speculate that 8 out of 10 businesses fail in the first 18 months, while others believe the number is closer to 90 percent.
  • Keep the Recruiting Ball Rolling

    29 Sep 2014 | 12:00 pm
    Recruiting: it takes time, energy and focus. It may feel like it’s unproductive for the company since it takes a while for the fruits of your labor – the new hire’s training, acclimation and productivity – to appear.
  • Not Complying with HIPAA Rules Could Cost Your Business Millions of Dollars

    25 Sep 2014 | 7:00 am
    A year has past since the HIPAA's Final Rule on Privacy and Security took effect September 23, 2013. As a business owner, you should ask yourself, “Is my company classified by HIPAA as ‘business associate’ (BA) of a ‘covered entity’ (CE) and if so, have I complied with all of the regulations associated with that?” If you answer yes to the first part of the question, and no to the second part, you may be at risk of non-compliance.
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    Advice for Tax Preparers

  • Work in a CPA Firm Tax Department? Plan for Change.

    Bill Meador, CPA, JD
    20 Oct 2014 | 7:21 pm
    Many current and future tax CPAs think they can control the flow of their careers when in most cases they are merely in the eye of the hurricane. But that doesn't mean you're without options. [click to keep reading...]
  • Accounting LIONs

    Bill Meador, CPA, JD
    28 Sep 2014 | 11:52 pm
    If you have followed my blog for a while you are aware that I created a LinkedIn group with the same name as my blog titled Advice for Tax Preparers. That group is devoted to the same premise as my blog in that the group provides accounting students and tax professionals the opportunity the learn, share and discuss tips and tricks on how to succeed as a tax preparer in a public accounting firm. I have now created a new LinkedIn group called Accounting LIONs which goes in a completely different direction. This group solves a big problem for accounting students and accounting professionals who…
  • Interviews to Help Tax Preparers

    Bill Meador, CPA, JD
    4 Sep 2014 | 1:48 pm
    As part of my blog Advice for Tax Preparers, I will be adding interviews other tax professionals on their advice, tips, and tricks to make your life as a tax preparer easier and more successful. My intent is to get a wide range of interviews from tax professionals in terms of their experience and part of the country so that you can get an understanding of which issues are common in public accounting firm tax departments versus which issues depend on your situation or part of the country. [click to keep reading...]
  • Learn Why New Accounting Staff Eat Time & How to Fix The Problem

    Bill Meador, CPA, JD
    12 Aug 2014 | 12:17 pm
      Accountants by the nature of our profession want to follow rules. Therefore, we like it when we have guidelines such as an employee handbook that tell us how to respond in an accounting firm to a particular situation. However, new accountants soon find out that the firm grapevine provides unwritten rules to be followed as well. One example is in the area of the billable hours (the time each person charges to the job for preparing and reviewing the tax return or audit) that a staff should put on his timesheet. If the staff person talks to people in the firm they will get one or more of…
  • Why Should You Take a CPA Exam Review Course?

    Bill Meador, CPA, JD
    29 Jul 2014 | 11:22 am
    I recently published an article with several tips to help people pass the CPA exam. (See 4 Tips from a 20 Year CPA to Pass the CPA Exam). One of the tips I mentioned in the article was that they should take a review course for at least auditing, but I believe they should take one for all of the courses. Most of the responses I received on that point were positive, but I had one person ask me why anyone should bother taking a review course. They noted that they had bought a couple of review books and some test questions and done just fine on the CPA exam. I figured that there might be others…
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    The Cheap Accountants

  • Small businesses are being starved of finance by the banks

    20 Oct 2014 | 5:02 am
    Small firms are being starved of finance by the banks but peer-to-peer business lenders are stepping into the breach. According to the latest trends in Lending report, small firms continue to struggle to access cash from the banks. The Bank of England report showed that net lending to small and medium-sized enterprises (SMEs) through the Government’s Funding for Lending scheme (FLS) was down in the second quarter or this year, contracting by £400 million. It has been said that the FLS scheme is failing to benefit large firms too, with lending down to £3.9 billion to corporates in the…
  • Four-Year high confidence boost for UK small businesses

    13 Oct 2014 | 6:56 am
    According to software firm Sage, the UKs small businesses have had their confidence boosted to a four-year high with almost half of them planning to go on a hiring spree. The annual Sage Business Index found that UK companies were more optimistic about the prospects for their own business rising 3.74 points to a four-year high of 66.29. The research also revealed that UK businesses have greater confidence in the national economy following a 7.81 increase to 61.76 in the last year, putting them ahead of both German and French businesses. Sage stated that the rise in confidence is also…
  • Small businesses vulnerable to penalties over pension’s auto-enrolment

    9 Oct 2014 | 5:13 am
    Thousands of Britain’s small businesses are missing the legally binding deadlines, which involves introducing occupational pensions for staff. Therefore they risk facing many expensive fines and penalties as a result. Auto-enrolment requires all employers, regardless of size to offer their staff a pension scheme, to enrol all those staff who don’t expressly opt out and to make contributions on their behalf, is being introduced over a period of about six years. However, despite the gradual roll-out with smaller businesses given more time to prepare, there has been one unfortunate…
  • Why an accountant can help your new business grow

    8 Oct 2014 | 3:39 am
    You’re just starting out. Your business idea that you have been dreaming about for the past few years has finally taken shape, you’ve taken the first big step and made a commitment. Some may have left the safety of a permanent job, paid holidays, pension and the guarantee of a set wage coming in every month. Others may have asked family members to help finance the new start up idea, whatever the commitment, it brings along a certain type of pressure to succeed. Making sure everything that needs to be done has been done when first starting out is essential. Having a business plan, knowing…
  • Small business costs have continued to rise during 2014

    7 Oct 2014 | 7:55 am
    According to the latest Cost of Doing Business survey from the Forum of Private Business (FPB), energy costs are still the most commonly-seen increase. Despite signs that economic recovery is gathering momentum, the study shows firms are still feeling the squeeze despite signs that the economic recovery continues to gather momentum. 63% of businesses have seen an overall increase in their business costs, with 70% of businesses reporting an increase in energy costs, 65% in transport costs, 76% in marketing and 65% in a rise in staff costs. The report has also identified that 38% of small…
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    Jetpack Workflow » Blog

  • Growing Your Firm Podcast Now Live

    Jetpack Workflow
    7 Oct 2014 | 6:14 am
    Growing Your Firm Podcast Now Live!   We’re excited announce our latest project, Growing Your Firm Podcast! For those following the blog, we’ve been posting interviews for a few weeks, but after the great response on the content, we decided to launch it both on iTunes and Stitcher radio! So now you can listen to... Read more » The post Growing Your Firm Podcast Now Live appeared first on Jetpack Workflow.
  • The “New” Rules of Marketing for Accounting Professionals

    Jetpack Workflow
    24 Sep 2014 | 5:23 am
    Are you stuck wondering why marketing dollars are no longer working? And while I would never dismiss a marketing campaign without testing, there are some fundamental differences in marketing today.   Thank you to Steve Pipe posting this. Original poster TBD So much of this poster sounds fantastic, but let’s break down what each rule means:... Read more » The post The “New” Rules of Marketing for Accounting Professionals appeared first on Jetpack Workflow.
  • Website Best Practices For Accounting Firms

    Jetpack Workflow
    17 Sep 2014 | 4:57 am
    The Difference Between High ROI Websites for Accountants vs Those That Just Waste Money   Ever wonder how some websites bring in leads while others flounder with ZERO ROI? Your website is “main” street in your marketplace. Almost all of your clients and prospects will be searching online to learn more, and unlike sites like... Read more » The post Website Best Practices For Accounting Firms appeared first on Jetpack Workflow.
  • Finding Freedom in Your Firm: Our Interview with Steve Pipe

    Jetpack Workflow
    10 Sep 2014 | 6:22 am
    This week’s guest is Steve Pipe, Founder of ImproveYourPractice. In this episode, we cover… How (and Why) You Should Intentionally Work with Fewer Clients How to Build Greater Connection and Increase Prices with Your Client Price How to Build Recurring and Predictable Revenue for Your Firm and so much more: Resources mentioned in the episode:... Read more » The post Finding Freedom in Your Firm: Our Interview with Steve Pipe appeared first on Jetpack Workflow.
  • Updated: Due Date Extension Tracking | Currency Options & More

    Jetpack Workflow
    10 Sep 2014 | 5:21 am
    This week we’re excited to release a major update in our due date tracking feature, as well as updates to currency options. + Due Dates will automatically roll over to the Due Date Extension (and you can setup email notifications to get the alert) + Update the currency option under settings to include Euro’s, Pounds,... Read more » The post Updated: Due Date Extension Tracking | Currency Options & More appeared first on Jetpack Workflow.
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    Excel Software | Program Akuntansi | Laporan Keuangan

  • Menghilangkan Kotak Teks pada Sheet Menu Aplikasi

    14 Oct 2014 | 7:29 pm
    Pertanyaan : Bagaimana caranya menghilangkan kotak teks berjalan “program by syafuddin” pada sheet menu aplikasi. Jawab : Perlu diketahui, hampir semua aplikasi Excel yang kami bikin, pada sheet menu tertentu, terdapat pesan berjalan mengikuti pergerakan atau perpindahan sel. Untuk menghilangkan pesan berjalan tersebut, lakukan beberapalangkah berikut : (1) Bolok seluruh sel dengan kursor, atau dengan […]
  • Perbedaan Akuntansi Keuangan dan Akuntansi Manajemen

    26 Sep 2014 | 7:55 pm
    Penggnaan akuntansi dalam bisnis dan dinamika perusahaan, mempunyai peran yang sangat penting terutama untuk memberikan informasi keuangan sebagai pendukung pengambilan keputusan. Berbagai macam kepentingan dan keputusan dalam penggunaan informasi keuangan perusahaan menyebabkan berkembangnya ilmu akuntansi. Informasi keuangan yang dihasilkan bukan hanya terbatas pada penyediaan laporan keuangan sebagai bentuk pertanggungjawaban manajemen saja, namun sebagai alat pendukung pengambilan keputusan di masa datang. Meskipun perkembangan akuntansi […]
  • Perbedaan Akuntansi Komersial dan Akuntansi Pemerintahan

    25 Sep 2014 | 3:09 am
    Menurut Kerry Soetjipto (1994), kegiatan pemerintah dapat dibagi dalam 2 (dua) golongan, yaitu: Pertama, kegiatannya tidak bertujuan mencari laba melainkan meningkatkanpelayanan untuk masyarakat, Kedua, kegiatannya mirip dengan perusahaan, walaupun mencari laba bukan tujuan utamanya, melainkan untuk mempertinggi penyediaan jasa bagi masyarakat. Organisasi jenis ini memperoleh pendapatannya dari menjual jasa kepada masyarakat dan dikenal sebagai organisasi […]
  • Perbedaan Standar Akuntansi SAK-ETAP dan PSAK

    25 Sep 2014 | 2:31 am
    Ikatan Akuntan Indonesia pada tanggal 17 Juli lalu telah meluncurkan standar akuntansi ETAP (SAK-ETAP) bertepatan dalam acara Seminar Nasional Akuntansi “Tiga pilar Standar Akuntansi Indonesia” yang dilaksanakan oleh Universitas Brawijaya dan Ikatan Akuntan Indonesia. Nama standard ini sedikit unik karena exposure draftnya diberi nama Standar Akuntansi UKM (Usaha Kecil dan Menengah), namun mengingat definisi UKM […]
  • Download Formulir Pendaftaran Pajak

    24 Sep 2014 | 7:27 pm
    Sumber : Peraturan perpajakan terbaru mengenai formulir pendaftaran NPWP, PKP perubahan data serta perpindahan Wajib Pajak PER-44/PJ/2008 & Lampiran I dan Lampiran II, peraturan ini mengubah formulir pendaftaran yang dahulu cuma satu formulir (pendaftaran NPWP/Perubahan Data) sekarang dipecah menjadi delapan formulir yakni : APLIKASI AKUNTANSI EXCEL sebuah program olah data akuntansi yang dikembangkan melalui […]
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