Wed.Jun 14, 2023

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Claim edits mastery: Leveraging best edits and best practices to expedite payments

SSI Healthcare Rev Cycle Solutions

Claim edits mastery: Leveraging best edits and best practices to expedite payments [Live Webinar] Although often overlooked, claim edits play a critical role in thwarting denials and accelerating payments. Your ability to efficiently manage and promptly correct edits, utilizing a claim scrubber or billing application, has substantial implications on your cash flow.

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Email Data Extraction - How to Extract Specific Data from Emails?

Nanonets

Introduction In today's digital age, managing an avalanche of emails can be an overwhelming task, especially for businesses dealing with hundreds or thousands of emails daily. However, these emails often contain vital information, from purchase orders and invoices to customer queries or even insights that could help streamline your business operations.

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Accounting 101: Techniques to Prioritizing Growth

Insightful Accountant

Arc Business Management and National Xero Ambassador Tate Henshaw drills down on why it is time for you to open your mind up to new techniques to help your firm.

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Financial statement review definition

Accounting Tools

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is a Financial Statement Review? A financial statement review is a service under which the accountant obtains limited assurance that there are no material modifications that need to be made to an entity's financial statements for them to be in conformity with the applicable accounting framework (such as GAAP or IFRS ).

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Product Release Notes May 2023

CloudZero

In a not altogether friendly economic environment, digital-native businesses are looking for as much control and predictability in the cloud as possible. Finding durable savings, building cost-efficient cloud infrastructure, and laying cultural foundations for long-term cloud sustainability have never been more core to business success.

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Types of financial statements

Accounting Tools

Related Courses The Balance Sheet The Income Statement The Statement of Cash Flows What are the Types of Financial Statements? Financial statements provide a picture of the performance, financial position, and cash flows of a business. These documents are used by the investment community, lenders, creditors, and management to evaluate an entity. There are four main types of financial statements, which are noted below.

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How to calculate goodwill

Accounting Tools

Related Courses Business Combinations and Consolidations Divestitures and Spin-Offs Mergers and Acquisitions Goodwill is an intangible asset generated from the acquisition of one entity by another. It cannot be generated internally; it can only be recognized through the acquisition of another business. Goodwill is the difference between the price paid by the acquirer for a business and the amount of that price that cannot be assigned to any of the individually-identified assets and liabilities a

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How CloudZero Closed A $32M Series B Round In The Weakest Funding Environment In Years

CloudZero

CloudZero just closed at $32M Series B fundraising round in the weakest funding environment since the dawn of the pandemic. The round was led by Innovius Capital and Threshold Ventures, with continued support from existing investors Matrix Partners, Underscore VC, and G20 Ventures.

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Discretionary fixed cost definition

Accounting Tools

Related Courses Cost Accounting Fundamentals Cost Management Guidebook What is a Discretionary Fixed Cost? A discretionary fixed cost is an expenditure for a period-specific cost or a fixed asset , which can be eliminated or reduced without having an immediate impact on the reported profitability of a business. There are not many discretionary fixed costs, but they can be quite large, and so are worth considerable ongoing review by management.

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Payment API

Tipalti

A payout API allows businesses to integrate payment processing into their website or app. Learn about the functionality of payment APIs and REST and SOAP API features.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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Inventory audit procedures

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory How to Conduct an Audit Engagement What are Inventory Audit Procedures? If your company records its inventory as an asset and it undergoes an annual audit , then the auditors will be conducting an audit of your inventory. Given the massive size of some inventories, they may engage in quite a large number of inventory audit procedures before they are comfortable that the valuation you have stated for the inventory asset is reasonable

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Practicing the Art of Proactive Guidance

Insightful Accountant

How Rewind helped the Executive Geek make data loss a non-event for its non-profit clients.

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Research and development accounting

Accounting Tools

Related Courses Accountants' Guidebook GAAP Guidebook How to Account for Research and Development The accounting for research and development involves those activities that create or improve products or processes. The core accounting rule in this area is that expenditures be charged to expense as incurred. Examples of activities typically considered to fall within the research and development functional area include the following: Research to discover new knowledge Applying new research findings

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Reconciliation Easier than Ever with NetSuite Account Reconciliation

Insightful Accountant

NetSuite Account Reconciliation is built on Oracle technology to improve financial statement accuracy and expedite accounting period close.

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Your New & Improved Month-End Close Process Is Not So Far Out of Reach!

All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!

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Suspense account definition

Accounting Tools

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Suspense Account? A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded. Once the accounting staff investigates and clarifies the purpose of this type of transaction, it shifts the transaction out of the suspense account and into the correct account(s).

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Stepping through Difficult QuickBooks Desktop Repairs – Part 1

Insightful Accountant

Murph takes you step by step through repairing the QuickBooks Application in the first part of his two-part series.

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How to calculate a commission

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management A commission is a fee that a business pays to a salesperson in exchange for his or her services in either facilitating or completing a sale. Calculating a sales commission depends on the structure of the underlying commission agreement. The following factors typically apply to the calculation: Commission Rate The commission rate is the percentage or fixed payment associated with a certain amount of sale.

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Bankruptcies Are Rising, What Is Your Strategy?

NACM

Listen to the latest episode of NACM's Extra Credit podcast to learn how automation can help credit departments navigate the spike in bankruptcies. ?️ With the pandemic free-money era officially coming to an end, many businesses on the margin are starting to struggle. As a result, corporate bankruptcies are on the rise. Commercial C.

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The Definitive Guide to Spend Management

The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.

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Cash turnover ratio definition

Accounting Tools

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Cash Turnover Ratio? The cash turnover ratio is used to determine the proportion of cash required to generate sales. The ratio is typically compared to the same result for other businesses in the same industry to estimate the efficiency with which an organization uses its available cash to conduct operations and generate sales.

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Improving Invoice Processing Accuracy with Nanonets & ChatGPT-4

Nanonets

I wouldn’t be exaggerating if I said an average person sends/receives at least 10 invoices per week. With the growing digitalization, businesses are dealing with massive volumes of invoices every day. Traditionally, invoice processing has been a manual and time-consuming process, that needs significant resources and is prone to errors. With the advent of AI and Natural Language Processing, invoice processing can now be automated and streamlined, leading to improved efficiency and accuracy

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Inventory shrinkage definition

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory Inventory Management What is Inventory Shrinkage? Inventory shrinkage is the excess amount of inventory listed in the accounting records , but which no longer exists in the actual inventory. Excessive shrinkage levels can indicate problems with inventory theft, damage, miscounting, incorrect units of measure, evaporation, or similar issues.

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Days' sales in inventory definition

Accounting Tools

Related Courses Accounting for Inventory Business Ratios Guidebook Inventory Management What is Days’ Sales in Inventory? Days' sales in inventory (DSI) indicates the average time required for a company to convert its inventory into sales. A small number of days' sales in inventory indicates that a company is more efficient at selling off its inventory, while a large number indicates that it may have invested too much in inventory, and may even have obsolete inventory on hand.

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

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Imputed interest rate definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is an Imputed Interest Rate? An imputed interest rate is an estimated interest rate used instead of the established interest rate associated with a debt. An imputed rate is used because the established rate does not accurately reflect the market rate of interest , or there is no established rate at all.

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Key performance indicator definition

Accounting Tools

Related Courses Business Ratios Guidebook Key Performance Indicators What is a Key Performance Indicator? A key performance indicator (KPI) is a core metric used by a business to monitor its progress toward achieving key goals and financial outcomes. KPIs will vary by industry, due to differences in their operational and financial structures. Among the more common KPIs related to finances are a firm's gross margin , net profit , current ratio , and debt to equity ratio.

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Percentage of receivables method definition

Accounting Tools

Related Courses Bookkeeping Guidebook How to Audit Receivables New Controller Guidebook What is the Percentage of Receivables Method? The percentage of receivables method is used to derive the bad debt percentage that a business expects to experience. The technique is used to populate the allowance for doubtful accounts , which is a contra account that offsets the accounts receivable asset.

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Acid-test ratio definition

Accounting Tools

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Acid-Test Ratio? The acid-test ratio compares a company’s most short-term assets to its short-term liabilities. The intent of this ratio is to evaluate whether a business has sufficient cash to pay for its immediate obligations. If not, there is a significant risk of default.

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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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Financial interest definition

Accounting Tools

Related Courses Auditor Independence What is a Financial Interest? A financial interest is an ownership stake in an equity security or debt security issued by an entity, including the rights and obligations to acquire such an interest. An auditor is deeply interested in the types and amounts of financial interests he or she holds in an attest client , since these investments can impact the auditor’s level of independence in relation to the client.

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Substantive procedures definition

Accounting Tools

Related Courses How to Audit Cash How to Audit Equity How to Audit Fixed Assets How to Audit Inventory How to Audit Liabilities How to Audit Receivables How to Conduct an Audit Engagement What are Substantive Procedures? Substantive procedures are intended to create evidence that an auditor assembles to support the assertion that there are no material misstatements in regard to the completeness, validity, and accuracy of the financial records of an entity.

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Audit data analytics definition

Accounting Tools

Related Courses Forensic Analytics Guide to Data Analytics for Audits  How to Conduct an Audit Engagement What is Audit Data Analytics? Audit data analytics involves the analysis of complete sets of data to identify anomalies and trends for further investigation, as well as to provide audit evidence. This process usually involves an analysis of entire populations of data, rather than the much more common audit approach of only examining a small sample of the data.

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Control assessment definition

Accounting Tools

Related Courses Accounting Controls Guidebook How to Conduct an Audit Engagement Internal Auditing Guidebook What is a Control Assessment? A control assessment is the review of operational risks and the effectiveness of the associated controls. This assessment needs to be conducted on an annual basis, because the risk profile of a business changes over time, as the nature of its operations and the general business environment change.

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Book of Secrets for the Month-End Close

Developing a consistent month-end close doesn’t need to be a mystery. We’re sharing our top 10 secrets (plus one bonus!) for streamlining your close.