Accounting Today
MAY 13, 2024
The Public Company Accounting Oversight Board approved two new standards on a firm's system of quality control and the general responsibilities of the auditor in conducting an audit, albeit with pushback on the QC standard from one board member.
Xero
MAY 13, 2024
With just over six weeks remaining in FY24, now is a great time to think about your EOFY preparation. A good place to start? Preparing your payroll to make finalisation as easy as possible come July. Completing your EOFY is better off on Xero. To help you get you through from start to finish, we’ve included some handy steps to guide you through the process. 1.
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Accounting Today
MAY 13, 2024
Two recent cases show how a lack of rigorous oversight and real consequences is impacting the profession.
Insightful Accountant
MAY 13, 2024
Small business owners and tax practitioners are debating whether to elect S corporation status before the potential corporate tax rate increase in 2025 due to the expiration of TCJA provisions.
Speaker: Danny Gassaway and Wayne Richards
Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.
Accounting Today
MAY 13, 2024
The Top 100 Firm has been increasing its workforce and footprint despite talent shortages, growing 17% in the first quarter of the year.
Accounting Tools
MAY 13, 2024
What are Budgeted Financial Statements? Budgeted financial statements contain the expected financial results, financial position , and cash flows of a business. These budgeted financials include an income statement , balance sheet , and statement of cash flows. These statements are compiled from the annual budgeting model of a business. Budgeted financial statements are particularly useful when creating a new budget model, since you can view the impact of adjustments to the model on the budgeted
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Ace Cloud Hosting
MAY 13, 2024
The current business environment is extremely fast-paced, and the ability to work from anywhere is crucial. Sage 50, a desktop software, is an ideal solution for businesses to manage their.
Accounting Today
MAY 13, 2024
Joe Woodard makes the case that it's accountants who need to change their ideas around value, not clients.
Reconciled Solutions
MAY 13, 2024
They’re your company’s most valuable asset. Thorough customer records can improve your customer relationships. Creating comprehensive, accurate customer profiles in QuickBooks Online takes time. It’s. The post Who Are Your Customers? QuickBooks Online Customer Records Can Tell You appeared first on Reconciled Solutions.
Accounting Today
MAY 13, 2024
The 2024 ATAWW survey is fielding responses from both firm team members and firm leadership about remote, hybrid and flexible work practices.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Accounting Tools
MAY 13, 2024
How to Value Inventory Inventory valuation is the cost associated with an entity's inventory at the end of a reporting period. It forms a key part of the cost of goods sold calculation, and can also be used as collateral for loans. This valuation appears as a current asset on the entity's balance sheet. The inventory valuation is based on the costs incurred by the entity to acquire the inventory, convert it into a condition that makes it ready for sale, and have it transported into the proper pl
Jetpack Workflow
MAY 13, 2024
If you are reading this, then you might be an accountant (or maybe a bookkeeper ) looking to start your own firm or practice. It can be a game changer for your career and finances. But it also can be an overwhelming process. We’ve now worked with thousands of firms who utilize our workflow software to streamline their projects, workflows, and automate repetitive tasks.
Accounting Tools
MAY 13, 2024
What is a Receiving Report? A receiving report is used to document the contents of a delivery to a business. The form is filled out by the receiving staff of the business accepting the delivered goods. Contents of a Receiving Report The following information is typically included on a receiving report: Date and time on which the delivery was received Name of the shipping company that delivered the goods Name of each item received Quantity of each item received The authorizing purchase order numb
Less Accounting
MAY 13, 2024
In small businesses, bookkeeping might often be viewed as a necessary but cumbersome task that diverts attention from core business activities. However, effective bookkeeping is vital for maintaining the financial health of the business, managing cash flows, and making well-informed strategic decisions. Many small businesses find that outsourcing bookkeeping functions can significantly enhance their growth potential.
Speaker: Jennifer Hill
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
Accounting Tools
MAY 13, 2024
What is an Accounting Convention? An accounting convention is a common practice used as a guideline when recording a business transaction. It is used when there is not definitive guidance in the accounting standards that govern a specific situation. Thus, accounting conventions serve to fill in the gaps not yet addressed by accounting standards. As the range and detail of accounting standards continue to increase, there are fewer areas in which accounting conventions can still be used.
Invoicera
MAY 13, 2024
Introduction Have you ever felt disappointed when something didn’t go well with a project because everyone wasn’t on the same page? Client contracts are the secret tool to avoid this kind of problem. A good contract isn’t just legal words – it’s a map for a smooth and successful working relationship with your clients. To help you lay the foundation right, we will discuss the right and easy way to make a client contract in 10 simple steps.
Insightful Accountant
MAY 13, 2024
TrulySmall Accounting is a product of Kashoo, a software developer that also produces Kashoo Accounting. As the name suggests, TrulySmall is designed for truly small businesses.
Accounting Tools
MAY 13, 2024
What is the Receipts and Disbursements Method? The receipts and disbursements method is used to construct a cash flow forecast. It is derived from actual and estimated accounts receivable and accounts payable. The source information has a relatively short time horizon, so the method's accuracy declines rapidly beyond a few months of forecasting. Within the near term, the results of this method can be quite accurate.
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
Invoicera
MAY 13, 2024
Introduction Retained earnings are an important part of a company’s financial statements and indicate business health. They are profits a company holds onto for future use instead of paying out as dividends. They show a company’s ability to grow and reinvest in itself. Statistics have revealed that companies with high retained earnings tend to have higher growth rates and can better handle economic downturns.
Dext
MAY 13, 2024
About Transforming Homes & Gardens Transforming Homes & Gardens is a premier landscaping company based in Perth, Western Australia, that specializes in high-end landscaping in the Northern suburbs of Perth. Graham Sweeney, owner and director, and Angela Sweeney, co-owner and office manager, take the idea of a family-run business to the next level.
Ace Cloud Hosting
MAY 13, 2024
An enormous technological revolution in the past few years has impacted various business operations. In today’s ever-evolving landscape, technology is transforming the way of doing accounting business. Now, you don’t.
Cloud Accounting Podcast
MAY 13, 2024
Cody Turley, CPA and Certified Fraud Examiner, joins Blake and David to discuss his SEC career path, describing what it's like to investigate securities law violations. He emphasizes that while Big Four experience is valuable, it's not the only way to have a successful and meaningful accounting career. Cody shares insights into the benefits of working in government accounting roles, including greater responsibility early on, work-life balance, and the ability to transition to public accounting o
Speaker: Debra L. Robinson
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
Accounting Tools
MAY 13, 2024
What is Business Risk? Business risk is the possibility that an organization's operations or competitive environment will cause it to generate financial results that are worse than expected. Business risk is influenced by many factors, including customer preferences, government regulations, the actions of competitors, and the state of the general economy.
Accounting Today
MAY 13, 2024
Whichever candidate wins the White House in November will have to contend with tax negotiations in 2025 with the personal income tax cuts in Trump's 2017 law set to expire unless Congress acts.
Accounting Tools
MAY 13, 2024
What is a Coincident Indicator? A coincident indicator reflects the current state of the economy, because it has a history of moving in tandem with the economy. These types of indicators are useful for providing a current view of economic conditions. Using coincident indicators in concert in the form of an index is more useful than any indicators individually, since individual indicators may occasionally be inaccurate.
Accounting Tools
MAY 13, 2024
Financial analysis involves the review of an organization's financial information in order to arrive at business decisions. This analysis can take several forms, with each one intended for a different use. The types of financial analysis are as follows. Horizontal Analysis Horizontal analysis involves the side-by-side comparison of the financial results of an organization for a number of consecutive reporting periods.
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
Accounting Tools
MAY 13, 2024
What is the Working Ratio? The working ratio compares the operating expenses of a business to its revenue. The ratio reveals whether a company can at least recover its operating expenses from sales. It is used as a general indicator of the financial health of a business, though it yields a figure that is imprecise. The ratio is most commonly used by third parties as part of their analysis of a business.
Accounting Tools
MAY 13, 2024
What is a Marketable Security? A marketable security is an easily traded investment that is readily converted into cash , usually because there is a strong secondary market for the security. Such securities are typically traded on a public exchange, where price quotes are readily available. The trade-off for the high level of liquidity is that the return on marketable securities is usually low.
Accounting Tools
MAY 13, 2024
What is a Service Department? A service department is a cost center that provides services to the rest of a company. The manager of a service department is responsible for keeping costs down, or meeting the costs stated in a budget. The services provided by a service department are then allocated to the other departments of a business that use these services.
Accounting Tools
MAY 13, 2024
What is the Mid-Month Convention? The mid-month convention states that all fixed asset acquisitions are assumed to have been purchased in the middle of the month for depreciation purposes. Thus, if a fixed asset was acquired on January 5th, the convention states that you bought it on January 15th; or, if you bought it on January 28, still assume that you bought it on January 15th.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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