The Changing Role of the CFO and Controller
From Financial Analysis to Business Operations, the Influence of CPAs in Corporate Finance Continues to Grow
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Thomas Barnes, CPA
Operations Controller, CHEMSTREAM INC.
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Red-teaming is designed to provide an independent, dissenting voice to challenge assumptions and anticipate potential threats, weaknesses, and vulnerabilities. The objective is to mitigate groupthink and overcome conformity by purposefully seeking to reach an opposite conclusion relative to a strategy or the prevailing wisdom. Do you red-team at your organization? Would you even know where to begin?
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A company should always aim to settle a tax dispute at the lowest level. In some situations, however, an appeal may be prudent. This blog addresses the important factors to consider when deciding whether or not to challenge a state or local tax audit assessment.
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Cross-departmental collaboration has become essential for modern planning, budgeting, and forecasting. Here are seven trends in 2022 that will enhance this interaction and help CPAs in business and industry achieve success.
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CPAs who work with not-for-profits faced huge pandemic-induced challenges. While some struggled to help their organizations, others were able to thrive and add significant value. As you assess and develop your lessons-learned, consider these experiences from the nonprofit sector.
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Have you ever produced financial statements that you reported out at a monthly management meeting only to be met by blank stares on the faces of those without a financial background? It can be unsettling, but it can be overcome. To break through those blank stares, you have to tell the financial story of your organization in a meaningful way to those with diverse backgrounds and varying levels of financial knowledge.
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The research and development (R&D) tax credit is available to many organizations to help reduce their tax liability and overall financial expenditures. Unfortunately, many organizations don’t know everything they need to know to fully take advantage of the credit. To help educate these organizations, as well as the CPAs who represent them, we spoke with Ashley Chikes, director of operations for R&D experts EPSA USA, about steps CPAs can take when advising a client about the R&D credit, the ins and outs of the Pennsylvania R&D credit, and more.
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In a look behind his feature for the winter 2022 Pennsylvania CPA Journal, Mike De Stefano, chief financial officer for RKL in Lancaster, Pa., discusses how CFOs can better engage colleagues on financial details via a management discussion and analysis, or MD&A, report. He explores the sorts of illuminating information that should go into an MD&A: financial, nonfinancial, and more.
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