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(Journal of Accountancy) - In accounts payable (AP) departments around the world, mistakes are happening day after day. Suppliers are onboarded without proper vetting. Duplicate payments are made. Fraud occurs in the disbursement process. These mistakes often happen not despite, but because of, the very systems that were designed and put in place to automate and perfect the AP process.
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Some Tax Benefits to Increase Slightly in 2017
(Accounting Today)- Annual inflation adjustments will affect more than 50 tax provisions, including the tax rate schedules, in tax year 2017, the Internal Revenue Service announced.
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(Yahoo Finance)- How's your 401(k)'s health these days? Hopefully you treat it like your own health, getting regular checkups to make sure everything is working well. Because if you wait until you have a concern, whether it's your own health or your 401(k)'s, you might get an unexpected surprise that could be tough to fix.
How To Avoid Making The Top 5 Common Medicare Mistakes
(Forbes) - The problem is this: Medicare is complicated. And many people don’t take the time to understand it until it’s too late. For example, did you know that Medicare doesn’t cover all your health care costs in retirement? You’ll have to pick up a good share of the expenses—and unless you plan for them in advance, those costs can eat away at your retirement savings.
FBI on financial crime: CPAs need to be diligent
(Ohio CPA) - CPAs are often the first to notice signs of cyber-crime, so they must stay attuned to their surroundings. Something that doesn’t feel right in that financial statement or a seemingly routine email asking for confidential information might be symptoms of big problems. “Be aware of those situations. Be diligent,” said Leanne Royal, CPA, CFF, forensic accountant, FBI. “If something seems out of the ordinary speak up about it.”
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