Trends

Tax

Xero Survey Reveals Biggest Tax-Time Mistakes Small Business Owners Make

Tax season has a way of highlighting small business owners' financial management lapses. According to a recent survey, the two most frequently cited are (1) failing to keep financial records up to date and (2) not preparing a budget for the year ahead.
Practice

CPA Firms Need to Find New Ways to Build Revenue in Post-Recession World

The US accounting services industry, including CPA firms, is expected to remain in a slow-growth mode, with annual revenue expected to rise a pedestrian 1.3 percent this year, to $72.9 billion.
A&A

Sales Numbers Up? Now's the Time to Reduce Risk of Credit Card Fraud

According to a March 13 report from the US Department of Commerce, retail sales increased 1.1 percent in February, to $421.4 billion, marking the biggest surge in the retail space since last September. Elevated sales numbers mean additional credit card transactions and, as a result, an increased risk for fraud.
A&A

Research Finds Internal Auditors Must Reach for New Heights or Risk Losing Relevance

On March 18, PricewaterhouseCooper's (PwC) released its "2013 State of the Internal Audit Profession Study." PwC surveyed 1,100 chief audit executives and more than 630 stakeholders worldwide for the company's ninth annual survey on the role of internal auditors.
A&A

New Report Shows Changing Fraud Environment

The latest Kroll "Global Fraud Report" shows the incidence and cost of fraud have decreased over the last year, yet fraud still remains an important issue for all companies around the world. And a DOJ suit against Standard & Poor's highlights the need for oversight of the credit rating industry.
A&A

Restatements Fall Overall but Rise for Largest Companies

While the overall number of financial restatements by US public companies has decreased over the last four years, large company restatements have been on the rise, according to research conducted and published by Audit Analytics in the "2012 Financial Restatements: A Twelve Year Comparison" report.
Practice

AICPA Survey: CPAs More Upbeat on Economic Outlook, but Still Cautious

The first quarter American Institute of CPAs (AICPA) Business and Industry Economic Outlook Survey is out, and it looks like respondents are increasingly optimistic about the US economy and their own businesses' prospects compared to the fourth quarter of 2012.
Education & Careers

Accountants Pay Seen Rising an Average 3.3 Percent This Year

Accountants with solid credentials should have no employment worries, because demand and pay throughout the profession are showing strong gains this year, according to reports from the recruitment firm Robert Half International.
Tax

Is This the Year for Tax Reform?

Is 2013 shaping up to the year of tax reform? "There are more proposals this year than we have seen in the last five years, and an unprecedented number of major state tax reform proposals," said Harley Duncan, a managing director at KPMG.
A&A

Accountants' Worries Range from Fuel Costs to Value of US Dollar

A new report, “Drivers of Change in the US,” is an analysis of a 2012 survey of 550 members of the ACCA and the IMA who were asked to rank their concerns about the changes and challenges facing the accounting profession now and in the future.
Education & Careers

Finance and Accounting Professionals' Confidence Grew Fourth Quarter

According to a recent survey, finance and accounting professionals' confidence in their own job prospects rose late last year, with more than half reporting they're confident they can find a new job.
A&A

Private Company Trends Remain Positive in January

Private companies in the United States continued to grow sales and expand their net profit margins in the period ending in January 2013. Private company credit risk also appears to be improving, with the average private company's likelihood of default currently standing around 3 percent.
Practice

Florida Firm Leaving Wellness Footprint

Florida-based certified public accounting and consulting firm Markham Norton Mosteller Wright & Company kicked off the New Year and tax season on a healthy note by launching its new workplace wellness program – the Path to Wellness.
Education & Careers

CBIZ Looks to the Skies, Oceans, Mountains to Highlight CFOs

Every accountant knows the stereotype: the cautious, change-averse perfectionist more comfortable in the world of numbers than the messy world of people and experiences. CFOs suffer some of the same misperceptions.
Technology

KPMG Survey Finds Shift to Cloud Presents Unexpected Challenges, Costs

The shift of IT systems to Cloud computing from an in-house infrastructure is proving more expensive and more complicated than first anticipated, according to KPMG International's "The Cloud Takes Shape" survey.
Practice

Was Your Client Denied Business Credit?

If one of your clients recently applied for business credit and was rejected, he or she isn't alone. Learn five ways you can help a client whose business credit application was denied. A recent survey of banks and asset-based lenders found they had turned down more than a third of all businesses' applications for loans, according to Pepperdine University's 2013 Capital Markets Report.
A&A

Internal Auditors See Steady Rise in Pay

It's a great time to be a corporate internal auditor – pay and perks for the profession are growing at a faster pace than most other jobs. Internal auditors in the United States and Canada received a median 3 percent increase in their base salaries in 2012, the second year in a row they've seen an increase.
Technology

Cyberattacks and Hacktivism – Take Cover!

Cybersecurity experts at Deloitte are warning that when it comes to cyberattacks, it's not a question of "if" but "when." A new study shows 88 percent of technology, media, and telecommunications companies don't think they're vulnerable.
Technology

Social Media Trends: Where Does Your Firm Stand?

No one can deny that social media is on everyone's mind. Instead of looking at what everyone else is doing, let's look at what other accounting firms are doing - or at least thinking about doing.
Practice

In 2013, Check Out These Fast-Growing Industries

Looking to start fresh in 2013 through new business relationships or a new company? Sageworks conducted a financial statement analysis of privately held companies to identify the fastest-growing industries.

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