News

Pandemic lessons learned in supply chain management

January 21, 2021

Natural disasters and international trade disputes have disrupted supply chains in the past, but most experts agree the coronavirus pandemic has dealt an unprecedented blow.

  • business and industry
  • coronavirus

Employee Retention Credit Under COVID-19 Relief

January 20, 2021

Here is a recap of the Employee Retention Credit under the CARES Act and the higher-impact modifications under the latest COVID-19 Relief Package.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - federal
  • federal tax

5 ways the future of work can make our lives better

January 19, 2021

This year has taught us all valuable lessons that will shape the future of work in profound ways – from finding new ways to connect virtually, to leading with empathy. The employee experience is about more than ping-pong tables and snacks: It’s about creating and maintaining a meaningful culture for employees, no matter where they sit.

  • business and industry
  • coronavirus
  • practice management
  • technology and cybersecurity

Employers can withhold, make payments of deferred Social Security taxes from 2020

January 19, 2021

The Internal Revenue Service today released Notice 2021-11 PDF addressing how employers who elected to defer certain employees' taxes can withhold and pay the deferred taxes throughout 2021 instead of just the first four months of the year.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - federal
  • federal tax

Upskilling finance team with business partnering skills

January 18, 2021

In the current rush to digitise and automate processes, we can sometimes forget that automation is a means to an end, and that end is finance business partnering. It’s a role that drives value for the company and its stakeholders.

  • business and industry

Connecticut Joins NH Remote Work Income Tax Case

January 17, 2021

New Hampshire is challenging a Massachusetts measure that continues to tax nonresidents that formerly commuted to work in the Bay State, but now work from home because of the pandemic.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - state
  • advocacy - federal

AI, applied: Lessons from 2020

January 15, 2021

The year of coronavirus will go down in history not just as a time of plague, but also of crisis-driven tech adoption. Mass migration online drove the adoption of cloud-enabled technologies, and AI was one of them.

  • business and industry
  • coronavirus
  • practice management
  • technology and cybersecurity

8 Business Compliance Considerations for 2021

January 13, 2021

To avoid penalties and other headaches, one of your business clients' many responsibilities is to remain in good standing with the state they operate in. But why is this so important, and what do they need to think about for 2021? Nellie Akalp lists 8 points you should bring up in your next meeting with a business-owning client.

  • business and industry
  • practice management

IMA CEO Thomson foresees 'megatrends' for accountants this year

January 13, 2021

Institute of Management Accountants president and CEO Jeff Thomson is predicting six megatrends in the finance and accounting profession this year.

  • accounting and auditing
  • business and industry
  • practice management
  • technology and cybersecurity

Labor Department's independent contractor rule may not stand for long

January 12, 2021

The U.S. Department of Labor’s new rule for defining an employee vs. an independent contractor is likely to be challenged in the incoming Biden administration as well as court, but it does provide some helpful guidance for companies struggling with how to adapt to the new gig economy.

  • accounting and auditing
  • business and industry
  • practice management

Rolling out finance automation with the right priorities

January 12, 2021

In moving traditional finance and accounting (F&A) departments towards finance business partnering, automation becomes a key criterion. Without freeing up employee hours from routine tasks, F&A would be “trapped” producing routine reports most of the time and reporting historical numbers. Automating routine tasks frees up capacity for F&A departments to redeploy and invest time in transformative projects.

  • business and industry
  • technology and cybersecurity

SBA and Treasury reopen Paycheck Protection Program

January 11, 2021

The U.S. Small Business Administration and the Treasury Department relaunched the Paycheck Protection Program on Monday to new borrowers, prioritizing loans from community lenders. The program, funded with $284.5 billion thanks to the latest stimulus package passed by Congress late last month, opened Monday to so-called “first draw” PPP loans for those small businesses who didn’t take advantage of the program last year. “Second draw” PPP loans will be available starting Wednesday. Initially only community financial institutions will be able to make the first-draw and second-draw loans, but the SBA and the Treasury said Friday that the program would be open to other lenders shortly thereafter.

  • business and industry
  • coronavirus
  • practice management
  • federal tax

Finance Bots: Overcoming the Hesitation

January 06, 2021

Many finance and accounting teams, under immense pressure and facing resourcing challenges stemming from the pandemic, are turning to automation for answers. The automation space, which grew at a compound annual growth rate of 30% from 2017 through 2022, must now also contend with COVID-19 as an accelerant. While intelligent and cognitive automation is now on the scene, robotic process automation (RPA or “bots”) remains an essential steppingstone in bringing automation into an organization’s operations — and one that stands to yield significant advantages and benefits.

  • business and industry
  • technology and cybersecurity

Labor Department finalizes rule on employee vs. independent contractor status

January 06, 2021

The U.S. Department of Labor issued a final rule Wednesday to clarify the standard for determining whether a worker should be considered an employee or an independent contractor. The rule is one of many contentious regulations that the Trump administration has been rushing to finalize in its waning days and is likely to have an impact on labor relations, pay scales and benefits for workers. It also has an impact on the taxes they pay and whether taxes need to be withheld from their paychecks or simply reported on a Form 1099 and sent to them before Jan. 31. More companies in recent decades have been classifying their workers as independent contractors as opposed to full-time employees to save on salaries and benefits, and that trend has only accelerated in recent years with the growth of the gig economy.

  • business and industry
  • career resources
  • practice management
  • advocacy - federal
  • federal tax

2020’s Best Advice for CFOs

January 01, 2021

CFO publishes more than 200 columns from experts, consultants, and finance chiefs of operating companies each year. Of the wealth of advice our authors dispensed during 2020, we assembled some of the best from 10 articles published during the year. These pieces not only struck a chord with readers, but they have also aged well as we enter 2021.

  • business and industry
  • coronavirus

5 tactics to plan your way through the pandemic in 2021

January 01, 2021

Regulators in several countries approved vaccines, and immunisation against the coronavirus started in December. The vaccines have shown to be highly effective in clinical trials, but the pandemic is not expected to subside for several months. To plan for pandemic uncertainty and risks in 2021, speakers at the Controllers Council roundtable suggested to...

  • business and industry
  • coronavirus
  • practice management

Moving Beyond Diversity to Foster Inclusion in Finance

December 22, 2020

Diversity and inclusion in finance aren’t new concepts. It’s long been a top priority for leaders in our profession, and in this year of uncertainty, we need new ideas and diversity of thought to re-imagine the path forward. The tragic events of 2020 have revealed the disparities that were hidden in plain sight — workplaces included. These events have challenged us to recognize that a checklist approach to diversity is not enough to achieve meaningful change.

  • business and industry
  • diversity
  • practice management