Sage Q1 2024 Release: Leveraging AI and Automation
Available as of Friday, February 16, Sage Intacct’s first release of 2024 includes new features and functionality that elevate the work of humans with AI and automation. The updates highlighted below include enhancements across three major themes: 1. Seamless data integration, 2. Automation advancements, and 3. Industry insights, to boost organizational efficiency and enhance decision-making insights.
Greenhouse Gas Emissions: Defining Scopes 1, 2, and 3
Many organizations are actively working to diminish their greenhouse gas emissions. When tracking and reporting progress, the terms ‘Scopes 1, 2, and 3 emissions’ are frequently used. But what do these designations truly signify? On the journey to achieving net zero emissions, organizations measure and assess their greenhouse gas emissions through three distinct ‘scopes.’ The…
2024 Yellow Book Updates: What You Need to Know
By Tricia Katebini, CPA, MBA, Partner, Audit The long anticipated 2024 Yellow Book, which supersedes the 2018 Yellow Book, was released Thursday, February 1, 2024, by the United States Government Accountability Office (GAO). The revisions to the Yellow Book reflect major developments in the auditing and accountability professions and emphasize specific considerations applicable to the…
Strategies for Indirect Cost Recovery for Fixed Price Government Contractors
By Paul Calabrese, Principal Government contracts come in various forms, each with its own set of rules and requirements. Critical to a contractor’s financial health, indirect costs are treated differently in fixed-price contracts compared to cost-reimbursable contracts. While fixed-price contractors may not face the same disclosure and cost build-up demands as their cost-reimbursable counterparts, they…
Unlimited PTO: Is it Right for Government Contractors?
The continuing challenges of recruiting and retention have prompted some government contractors to revisit their employee benefits and consider offering unlimited paid time off (PTO). Increasingly, companies are making a strategic decision to provide unlimited PTO to compete for the best talent by offering better work-life balance. While only 6% of employers currently provide unlimited PTO, a 2023 US News article profiled some well-known companies like Netflix, Oracle and LinkedIn who now offer unlimited vacation days.1
Options for Unused 529 College Savings Accounts
Section 529 plans can be a tax-smart way to save for college and other qualified education expenses. Contributions to these plans aren’t deductible for federal tax purposes, but earnings and gains accumulate federal-income-tax-free. Then you can take federal-income-tax-free withdrawals to cover qualified education expenses. What happens if a 529 account turns out to be overfunded…
GRF Invited to Join Information Technology Alliance
Recognized for the firm’s commitment to providing superior technology solutions to small and medium-size businesses and nonprofit organizations, GRF CPAs & Advisors (GRF) has joined Information Technology Alliance (ITA), a highly regarded association of top value-added resellers (VARs), public accounting firm leaders and technology product/service providers. This invitation was extended to GRF because of the high level of support and service the firm has provided businesses in their market and for their commitment to being a leader in the industry.
IPA’s 2023 List of Top U.S. Accounting Firms Ranks GRF at #118
For the eleventh consecutive year, GRF CPAs & Advisors (GRF) was honored among high-performing firms by INSIDE Public Accounting (IPA). The “who’s who” of the public accounting profession, the IPA 500 ranks the top US-based accounting firms annually based on participating firms’ net revenues. Ranking data was compiled through IPA’s analysis of its annual practice…
GRF’s Kristen Ocampo Earns CFE Credential
August 2, 2023 (Bethesda MD) — GRF CPAs & Advisors is pleased to announce that Kristen Ocampo, Risk & Advisory Services Supervisor, has been awarded the Certified Fraud Examiner (CFE) credential by the Association of Certified Fraud Examiners (ACFE). To achieve the award, Kristen met a stringent set of criteria and passed a rigorous exam…