Insightful Accountant
AUGUST 6, 2023
On the latest edition of Accounting Insiders, Insightful Accountant's Gary DeHart sits down with Cloud Business Services' Tanya Hilts to discuss the importance of industry events, and more.
Accounting Tools
AUGUST 6, 2023
Related Courses Closing the Books The Soft Close The Year-End Close What are Year-End Adjustments? Year-end adjustments are journal entries made to various general ledger accounts at the end of the fiscal year , to create a set of books that is in compliance with the applicable accounting framework. A number of year-end adjustments may be required, depending on how diligently the books have been maintained on a monthly basis.
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Insightful Accountant
AUGUST 6, 2023
Liz Scott is back with a look at the newest feature from QBO Payments and how it will help streamline the process of matching QBO with QBO Payments.
Accounting Tools
AUGUST 6, 2023
Related Topics Accounting for Stock-Based Compensation Human Resources Guidebook What is the Accounting for Stock-Based Compensation? A company may compensate its employees with shares in the business. The intent is to align their interests with those of the business in enhancing the share price. When these payments are made, the essential accounting is to recognize the cost of the related services as they are received by the company, at their fair value.
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.
Invoicera
AUGUST 6, 2023
Bills payable management has a vital role in ensuring a business’s stability and financial health. Whether it’s a small or a large-scale entity, neglecting bills payable can bring consequences and several hurdles in growth. However, it might be challenging to handle this process effectively, especially if you have hundreds of invoices. So, what is the solution to managing Bills Payable and multiple invoices simultaneously?
IMA's Count Me
AUGUST 6, 2023
In this riveting episode of the Count Me In Podcast, we dive into the complex world of cybersecurity within the accounting profession. Join us as we sit down with Tom Woolley, CEO of Today CFO and Founder of Today Cybersecurity, who has navigated the transitions from corporate industry to founding his own cloud accounting firm, and then into cybersecurity for accountants.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Invoicera
AUGUST 6, 2023
Bills payable management has a vital role in ensuring a business’s stability and financial health. Whether it’s a small or a large-scale entity, neglecting bills payable can bring consequences and several hurdles in growth. However, it might be challenging to handle this process effectively, especially if you have hundreds of invoices. So, what is the solution to managing Bills Payable and multiple invoices simultaneously?
Insightful Accountant
AUGUST 6, 2023
As accountants, understanding the different phases of the SBIR program and the requirements at each stage can help better support your clients. Hour Timesheet and Clockwise co-founder Debbie Sabin explains.
Accounting Tools
AUGUST 6, 2023
Related Courses Budgeting Capital Budgeting What is a Rolling Horizon Budget? A rolling horizon budget periodically adds more forecast periods so that a one-year budget is always presented. As each budget period is reached, management formulates a new budget period that is added to the far end of the budget, thereby maintaining a one-year budget. For example, once January is completed, a new January budget period is added for the following year, so that the new budget covers February of the curr
Ontrack Bookkeeping
AUGUST 6, 2023
For a small business owner, managing finances can be a daunting task. Keeping track of expenses, payments, and cash flow can be overwhelming, especially if you’re dealing with debt too. A business loan, line of credit or a business credit card can help your company hire new employees, purchase inventory, purchase equipment, and finance growth, but too much debt can become an unsustainable expense.
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.
Accounting Tools
AUGUST 6, 2023
Related Courses Budgeting Financial Forecasting and Modeling What is Target Income Sales? Target income sales is the revenue level needed to attain a budgeted profit level. The calculation is derived from a breakeven analysis , and is stated as follows: ( Fixed costs + Target income) ÷ Contribution margin percentage = Target income sales This calculation can be unreliable if the contribution margin varies significantly by period.
Accounting Tools
AUGUST 6, 2023
Related Courses Credit and Collection Guidebook Effective Collections How to Audit Receivables The amount of uncollectible accounts receivable must be estimated in order to create an allowance for doubtful accounts. This estimate can be derived from the aged accounts receivable report, or by using a percentage of sales. Both approaches are described next.
Accounting Tools
AUGUST 6, 2023
Related Courses Revenue Management Revenue Recognition What is Variable Cost-Plus Pricing? Variable cost-plus pricing is a system for developing prices that adds a markup to the total amount of variable costs incurred. Examples of the variable costs incurred are direct materials and direct labor. Essentially, any cost that changes in relation to production output should be considered a variable cost.
Accounting Tools
AUGUST 6, 2023
Related Courses Oil and Gas Accounting What is a Run Ticket? A run ticket documents the amount of oil delivered to a purchaser. It is prepared at the point of delivery by the purchaser or the representative of a transport company, and states the amount of oil removed from a stock tank. The beginning and ending depth measurements for a tank are netted and multiplied by the unique volume characteristics of the tank to arrive at the number of barrels of oil removed from it.
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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!
Accounting Tools
AUGUST 6, 2023
Related Courses Accounting for Inventory When the inventory asset is understated at the end of the year, then income for that year is also understated. The reason is that, if costs are not included in inventory, then by default they must have been included in the cost of goods sold. When this happens, costs are transferred from the balance sheet to the income statement , so that some of the inventory asset is incorrectly charged to expense.
Accounting Tools
AUGUST 6, 2023
Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements What are Illusory Profits? Illusory profits are generated when there is a difference between historical costs and current costs. These profits are largest when costs are rising or when a firm has a large asset base. Under these circumstances, an organization may charge to expense older costs that have been on the books for some time, and which can only be replaced at higher current costs.
Accounting Tools
AUGUST 6, 2023
Related Courses Bankruptcy Tax Guide Essentials of Corporate Bankruptcy What is Voluntary Bankruptcy? Voluntary bankruptcy is a form of bankruptcy in which the insolvent party petitions the court to declare bankruptcy, given its inability to pay outstanding debts. This means that the debtor chooses bankruptcy, rather than being forced into it by creditors.
Accounting Tools
AUGUST 6, 2023
Related Courses Accounting for Inventory Business Ratios Guidebook Inventory Management What is Inventory Turnover? Inventory turnover is the average number of times in a year that a business sells and replaces its inventory. Low turnover equates to a large investment in inventory, while high turnover equates to a low investment in inventory. Continual monitoring of inventory turnover is good management practice, in order to maintain a relatively low investment in this area.
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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.
Accounting Tools
AUGUST 6, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook The Income Statement How to Report Sales Commissions as an Expense Sales commissions are a key component of a company’s selling expense, and so are normally considered part of operating activities. Usually, they are listed within the selling, general, and administrative expenses section of the income statement.
Accounting Tools
AUGUST 6, 2023
Related Courses Capital Budgeting Financial Analysis What is Present Value? Present value is the current value of money to be paid or received at some point in the future. These future receipts or payments are discounted using a discount rate , which results in a reduced present value. A higher discount rate results in a lower present value, and vice versa.
Accounting Tools
AUGUST 6, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the Dual Aspect Concept? The dual aspect concept states that every business transaction requires recordation in two different accounts. This concept is the basis of double entry accounting , which is required by all accounting frameworks in order to produce reliable financial statements.
Accounting Tools
AUGUST 6, 2023
Related Courses Business Strategy New Manager Guidebook What is Product Diversification? Product diversification is the practice of expanding the original market for a product. This strategy is used to increase the sales associated with an existing product line , which is especially useful for a business that has been experiencing stagnant or declining sales.
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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