Mon.Jul 31, 2023

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Achieving that sale getting harder for small businesses

Xero

Small business owners are well aware how hard it is for their customers right now, who are trying to stretch their budgets to cover the rising cost of household bills, transport, housing and debt repayments. This isn’t leaving a lot of cash to spend in their local small business. This difficult task of making a sale is showing up clearly in the latest Xero Small Business Insights (XSBI) data, with sales growth slowing across all Australia, Canada, New Zealand, the UK and the US.

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Ascend acquires offshore accounting services provider

Accounting Today

The PE-backed platform for CPA firms has acquired India-based Sentient Solutions for Accounting.

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How to Ensure Long-term Lease Accounting Success

Insightful Accountant

A new webinar by LeaseCrunch will help guide attendees through preparing for the next chapter of ASC 842 lease accounting implementation. See how to sign up today.

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Crypto staking rewards go in gross income: IRS

Accounting Today

Revenue Ruling 2023-14 clarifies the rules around what exactly counts as income for certain crypto-activities.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Chat with PDFs using ChatGPT & OpenAI GPT API - A Detailed Tutorial

Nanonets

In this blog post, we explore Language Learning Models (LLMs) and their astounding ability to chat with PDF files. To start, we will show you how to chat with PDF files via the ChatGPT website. Next, we dive into a detailed code tutorial on how to chat with all kinds of PDF files. After that, we build our first automation to automate a repetitive task involving PDFs using ChatGPT API.

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A steep rise in changes to sales tax rates

Accounting Today

But the majority of those changes are actually decreases, according to a new report from Vertex.

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What CAS looks like

Accounting Today

New research from Accounting Today offers a clear picture the evolution of client accounting/advisory services practices.

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4 Ways SaaS Brands Evolved Their Pricing Strategy Using Cost Intelligence

CloudZero

One powerful way SaaS companies can balance their own costs while still providing plenty of value to their customers is to be strategic about pricing tiers and payment plans.

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EU companies get ESG rules aimed at addressing climate risks

Accounting Today

Tens of thousands of companies operating in Europe face new requirements to report their operations' climate impact.

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Capitalization definition

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Capitalization? Capitalization is the recordation of a cost as an asset , rather than an expense. This approach is used when a cost is not expected to be entirely consumed in the current period, but rather over an extended period of time. For example, office supplies are expected to be consumed in the near future, so they are charged to expense at once.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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FASB proposes income statement disclosure changes

Accounting Today

The board proposed an ASU Monday to give investors more information about a company's expenses.

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How to account for leasehold improvements

Accounting Tools

Related Courses Accounting for Leases Fixed Asset Accounting What are Leasehold Improvements? Leasehold improvements are defined as the enhancements paid for by a tenant to leased space. Examples of leasehold improvements are interior walls and ceilings, electrical and plumbing additions, built-in cabinetry, and carpeting and tiles. Leasehold improvements generally revert to the ownership of the landlord upon termination of the lease , unless the tenant can remove them without damaging the lease

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EU climate rules align with ISSB and GRI standards

Accounting Today

The European Commission adopted the European Sustainability Reporting Standards on Monday; they will take effect in 2024.

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Kathy Grosskurth on the Power of Taking Action

Insightful Accountant

Bookkeeping Clean and Simple's Kathy Grosskurth and Insightful Accountant's Gary DeHart discuss the importance of taking action to grow your business, and more. The latest edition of Accounting Insiders is here.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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The ERC maze: A guide to avoiding common errors

Accounting Today

With the IRS cracking down, knowing when and how clients can claim the credit — and when they can't — is critical.

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Direct margin definition

Accounting Tools

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is Direct Margin? Direct margin is the income percentage generated when all direct costs are subtracted from sales. This margin is useful for determining the amount of earnings generated, based on the application of variable expenses to sales. This margin is higher than the gross margin , since the gross margin calculation also includes factory overhead costs.

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Banks to limit carbon accounting in stock, bond sales

Accounting Today

A majority of an industry working group voted to exclude two-thirds of the emissions linked to their capital markets businesses. The accounting standard won't be mandatory.

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Depreciation recapture definition

Accounting Tools

Related Courses Small Business Tax Guide What is Depreciation Recapture? Depreciation recapture is the difference between the tax basis of an asset and its sale price, when the sale price exceeds the tax basis. This gain must be reported as ordinary income , since the depreciation originally taken on the asset provided the taxpayer with a reduction of its ordinary income.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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HBK's Vertilocity adds CRM experts

Accounting Today

The Top 100 affiliate is merging with North Carolina's Relevant CRM.

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Directors' report definition

Accounting Tools

Related Courses International Accounting Public Company Accounting & Finance What is a Directors’ Report? A directors' report is part of a publicly-held company’s annual report in the United Kingdom. The report includes a summarization of the company’s trading activities and a discussion of its future prospects. It also notes the primary activities of the enterprise, as well as any significant changes in those activities during the past fiscal year.

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Why your advisory practice isn't growing

Accounting Today

Many firms find they're hitting a major hurdle when it comes to taking advisory services to the next level; Sarah Dobek shares why, and what to do about it.

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Engineering change order definition

Accounting Tools

What is an Engineering Change Order? An engineering change order authorizes design changes to a product. These changes affect the structure of a production design after it has been wholly or partially completed. An engineering change order is used to correct design errors, substitute less-expensive components, improve quality, and so forth. A number of change orders may be implemented over the life of a product.

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How to Modernize Manufacturing Without Losing Control

Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives

Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri

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Asia's richest fuel race for lucrative finance jobs

Accounting Today

With residency, luxe living and low taxes mere table-stakes, the availability of trained staff to help the ultra-rich run their lives and their money has become a key battleground.

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Common cost definition

Accounting Tools

Related Courses Cost Accounting Fundamentals Cost Management Guidebook What is a Common Cost? A common cost is a cost that is not attributable to a specific cost object , such as a product or process. When a common cost is associated with the manufacturing process, it is included in factory overhead and allocated to the units produced. When a common cost is associated with administrative functions, it is charged to expense as incurred.

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Art of Accounting: Notable leaders beyond accounting

Accounting Today

Get involved in your clients' industries, professional societies and charitable organizations, and write and make presentations to become recognized as a mover, doer and expert.

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Consigned goods definition

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory Inventory Management What are Consigned Goods? Consigned goods are products not owned by the party in physical possession of them. The party holding the goods (the consignee ) has typically been authorized by the owner of the goods (the consignor ) to sell the goods. Once sold, the consignee retains a commission and forwards all remaining sale proceeds to the consignor.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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Online marketplace opens for clean energy credits

Accounting Today

Basis Climate introduced a digital exchange where companies can buy and sell renewable energy tax credits like the kind offered under the Inflation Reduction Act.

Tax 246
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Annuity definition

Accounting Tools

Related Courses Investing Guidebook What is an Annuity? An annuity is a series of fixed payments made at regular intervals. This payment stream is the result of an agreement under which the recipient originally paid a sum to a financial institution (such as an insurer ), with the institution pledging to return the funds at a later date, plus interest.

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Extraordinary loss definition

Accounting Tools

Related Courses GAAP Guidebook What is an Extraordinary Loss? An extraordinary loss is a loss resulting from a business transaction that has the following characteristics: The transaction is considered to be highly unusual The transaction should occur only rarely The transaction does not result from operating activities The classification of a transaction as an extraordinary loss is no longer allowed under GAAP and has never been allowed under IFRS (where it is instead presumed to be included in

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Annual return definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Investing Guidebook What is Annual Return? Annual return is the total change in the value of an investment over the course of one year. This return is comprised of the increase in the market value of an investment and the dividends paid on it. The total amount of these returns is divided by the amount of the investment at the start of the measurement period to derive the annual return percentage.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.