• Business Accounting

    Accounting Firms Scoop Up Virtual Land in the Metaverse

    Accounting firms are following the example set by other companies to launch operations in the metaverse, a digital space where players simulate real-life activities from shopping to gaming to business consulting. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Businesses across industries, including real estate, technology and cryptocurrency, have been purchasing digital land on platforms such as Decentraland and the Sandbox. Executives have started drafting business plans for operating in those virtual worlds, which are typically conceived by videogame developers. Prager Metis International LLC, a New  

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  • Business Accounting

    Accounting firms face the Great Resignation

    Accounting firms have thus far been able to successfully weather most aspects of the COVID-19 pandemic. However, a new challenge awaits on the other side: The Great Resignation. This mass exodus — felt both inside and outside of the accounting sphere — has seen professionals at all stages in their careers unexpectedly quit, moving on to greener pastures (or to totally different fields altogether), leaving firm managers scrambling. To be sure, turnover at accounting firms has been an ongoing issue over the last decade, which may lead some professionals to think the Great Resignation is either nothing new or a  

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  • Financial Management

    Focus Financial Partners : Provident Financial Management and London & Co., both Multi-Family Office and Business Management Firms, to Join Focus Together as a Newly Created Partner Firm

    Provident Financial Management and London & Co., both Multi-Family Office and Business Management Firms, to Join Focus Together as a Newly Created Partner Firm December 31, 2021 NEW YORK, NY / ACCESSWIRE / December 31, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that Provident Financial Management (“Provident”), a multi-family office and business management firm with offices in Santa Monica, Woodland Hills and San Francisco, CA, as well as in Nashville, TN, and London & Co., LLP (“London”), a tax, accounting and business management practice based in Los Angeles,  

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  • Loans

    European Investment Bank to end all loans to oil and gas firms | European Union

    The European Investment Bank (EIB), the lending arm of the EU, has vowed to close a loophole that allows it to lend money to oil and gas firms despite a ban on financing fossil fuel projects. The EIB, the world’s largest multilateral bank, which is active in 160 countries, announced in 2019 it was phasing out lending to fossil fuel projects within two years, as it sought to become a “climate bank”. Although the move was welcomed as a victory for the climate movement, campaign groups said the bank had failed to close several loopholes. Now the lender has acted  

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  • Business News

    Working for companies owned by well-heeled private-equity firms can mean lower wages for employees

    Alma Jordan, a certified nursing assistant at the Marcella Center nursing home in Burlington, New Jersey, respected the residents she cared for there over the past 16 years. They were like family, she said, and she believes they’ve appreciated her attentiveness, especially during Covid-19. Not so, the nursing home’s new owner, Jordan said. After Complete Care Management, the largest for-profit nursing home operator in New Jersey, took over the 150-bed Marcella Center in April, it slashed worker benefits, she and other employees as well as a representative from their union told NBC News. Amid the pandemic, Jordan’s paid holidays were  

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  • Financial Management

    Focus Financial’s Connectus Acquires 3 Firms in 3 days

    Connectus Wealth Advisers, a division of Focus Financial Partners, has acquired three wealth management firms in the past week—one in the United Kingdom, one in Massachusetts and one in Australia. Focus announced Monday that Trident Financial Planning Limited, a wealth management firm in Berkshire, England, would be joining Connectus. Trident, which represents the second U.K.-based firm to join Connectus’ shared services model, serves individuals and families throughout the U.K. Related: Focus Financial’s Connectus Launches Business Development Program On Friday, the firm announced the acquisition of New England Investment & Retirement Group (NEIRG), an RIA in North Andover, Mass. The  

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  • Business Accounting

    Accounting firms bet on tech advisory services as key growth engine

    National accounting firm CliftonLarsonAllen (CLA) is creating machine learning models to help manufacturing clients revamp their processes. Marcum last year tasked its chief information officer with leading a subsidiary focused on technology advising. At CohnReznick, the number of employees doing advisory services has tripled to 600 since 2014. CPA firms have traditionally been known for providing audit and tax services, but increasingly many Greater Hartford accountants have begun to offer, or are growing tech-centric advisory services. Local industry leaders say they see this as a major potential growth area, as artificial intelligence, cybersecurity and other technology areas become a greater  

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  • Business Accounting

    Accounting firms slowly return to offices while giving employees flexibility

    Accounting firms, like many businesses, are reopening their doors as the COVID-19 pandemic recedes thanks to wide availability of vaccines in the U.S., but they’re trying to avoid alienating staff. Firms have been welcoming back employees who have been working from home for over a year, but giving them options to keep working remotely, if they choose, to avoid losing talented staff and partners to the competition. While a year ago, companies were laying off millions of employees due to the economic fallout from the pandemic, the situation has reversed and businesses in many industries are having trouble finding qualified  

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