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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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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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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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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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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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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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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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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Top 100 2024 Certification Clues: QuickBooks Online

Insightful Accountant

In Part 6 of Murph’s Clues for Top 100 2024, he examines the current QuickBooks certifications and their training opportunities.

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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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HBK's Vertilocity adds CRM experts

Accounting Today

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

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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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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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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.

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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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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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Net receivables definition

Accounting Tools

Related Courses Bookkeeping Guidebook Credit and Collection Guidebook The Interpretation of Financial Statements What are Net Receivables? Net receivables is the amount of money owed by customers that a business expects them to actually pay. This information is used to measure the credit and collection effectiveness of an organization, and can also be included in the cash forecast to measure projected cash inflows.

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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.