Tue.Mar 12, 2024

article thumbnail

Early identification of operational distress is key

Accounting Today

While every company is different, there are 12 operational areas distressed businesses often miss, which can foretell a deteriorating financial condition.

article thumbnail

Financial Challenges Faced by Non-Profits and Solutions to Help Them Succeed

Accounting Department

Non-profit organizations often stand at the frontier of social change, operating with the noblest of causes but facing challenges unique to their sector, particularly in the financial realm. With a mission-driven focus and often a limited budget, navigating the complex financial landscape of a non-profit can be daunting.

Budgeting 231
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

IRS warns of money mule networks

Accounting Today

Criminals are exploiting networks of innocent people to move illicit funds between bank accounts, currencies and blockchains in an effort to evade law enforcement.

article thumbnail

Recon Your Way to QB Talks on March 20, 2024

Insightful Accountant

If you're into revenue recognition you better reconnoiter our upcoming QB Talks on Wednesday, March 20, 2024 at 2:00 PM Eastern when Alicia Katz Pollock will teach you all about this new feature in QBO Advanced.

105
105
article thumbnail

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.

article thumbnail

Filing season off to a strong start

Accounting Today

Despite a later start, tax filing is proceeding apace — though there are some unresolved issues.

Tax 287
article thumbnail

Roman Kepczyk on Securing Accounting Firms During Busy Season: 5 Expert Tips

Insightful Accountant

In this episode,Roman Kepczyk, a CPA and director of firm technology strategy at Rightworks, discusses the importance of security in accounting firms.

CPA 101

More Trending

article thumbnail

Top 7 Benefits of Hosting Lacerte Tax Software on the Cloud

Ace Cloud Hosting

Lacerte from Intuit is one of the most popular tax filing software for professionals and businesses. Working with Lacerte tax software on your local system can be cumbersome and a.

Tax 64
article thumbnail

Few audit execs use gen AI — for now

Accounting Today

A recent survey from Gartner found that few audit executives report using generative AI in their department, but many say they expect to do so in the future.

Auditing 221
article thumbnail

Nanonets Raises $29 Million to create Autonomous AI Agents for business workflows

Nanonets

We’re super thrilled to announce that we’ve raised $29 million in our Series B funding round led by Accel India in our journey to reimagine how businesses manage workflows! The funding round also saw participation from existing investors Elevation Capital, YCombinator and others. This takes the total funding raised till date to $42M. Where We are Today For a few years now Nanonets has been the go-to choice to manage documents, capture information and simplify communication –

article thumbnail

Ex-Credit Suisse client charged in 35-year tax scam

Accounting Today

A Brazilian-American businessman who lives in Florida was charged with using Credit Suisse Group AG, UBS Group AG and other Swiss banks to hide more than $20 million in assets from U.S. tax authorities over 35 years.

Tax 164
article thumbnail

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.

article thumbnail

The AWS Enterprise Discount Program (EDP) Guide

Economize

What is AWS EDP? The surge in cloud consumption necessitates exploring cost-optimization strategies. Amazon Web Services (AWS) Enterprise Discount Program (EDP), is one such program designed to incentivize high-volume users with significant savings and discounts. AWS EDP is a customized program tailored to meet the specific needs of high-spending enterprise customers.

article thumbnail

'Trust gap' widens between execs and employees, customers

Accounting Today

Company leaders think their employees and customers trust them more than they actually do, according to PwC's Trust Survey.

article thumbnail

Reasons to Go Paperless: Unlocking the Benefits of Digital Transformation

oAppsNet

In an era of technological advancement and digital innovation, organizations across industries increasingly embrace paperless initiatives as a strategic imperative for driving operational efficiency, enhancing collaboration, and reducing environmental impact. Going paperless involves digitizing manual, paper-based processes and transitioning to electronic alternatives, such as digital documents, electronic signatures, and cloud-based storage solutions.

article thumbnail

Arvo Tech acquires two accounting firms

Accounting Today

Arvo Tech, a tax strategy technology provider for small businesses, has acquired Mark Murphy & Associates and Lee & Associates.

article thumbnail

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!

article thumbnail

Accrued rent income definition

Accounting Tools

What is Accrued Rent Income? Accrued rent income is the amount of rent that a landlord has earned in a reporting period , but which has not yet been received from the tenant. A landlord using the accrual basis of accounting should record this income, in order to recognize it in the period in which it was earned. Accounting for Accrued Rent Income The amount of any accrued rent income should not be recorded if it is probable that the tenant will not pay, and there is no alternative method for rec

article thumbnail

Lenders score win as IRS sidelines plan to restrict tax data

Accounting Today

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

Tax 136
article thumbnail

What is Record-to-Report (R2R Process) in Finance?

Nanonets

Record-to-Report (R2R) is a critical finance management process in corporate finance, which focuses on collecting, processing, and delivering accurate financial data. This process encapsulates everything from recording financial transactions to the preparation and reporting of financial statements and performance reports that stakeholders use to make key decisions.

article thumbnail

Sales tax rate changes hit new high

Accounting Today

Changes in rates and rules at every level require advisors to stay on their toes.

Tax 164
article thumbnail

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.

article thumbnail

Member Spotlight: Tools for Success

NACM

Earning the Credit Business Associate (CBA) was a way for Tina Rodgers, CBA, credit manager at Spartan Chemical Company, Inc. (Maumee, OH) to deepen her understanding of credit principles. "I wanted to earn this designation to enhance my credibility in the field of credit management," Rodgers said.

5
article thumbnail

In the blogs: Chips are falling

Accounting Today

R&D and China; billable versus subscription; trailblazers; and other highlights from our favorite tax bloggers.

Tax 120
article thumbnail

Setting the record straight on tax preparation 

Intuit

Intuit is an advocate for taxpayers and is committed to tax simplification. Every year, we help millions of taxpayers navigate an ever-complex tax code so they can confidently file their taxes. Our mission is to power prosperity around the world, and that commitment is why we fight to ensure our customers receive every single dollar they’ve earned and deserve.

Tax 130
article thumbnail

Uncovering the Benefits of Subscription-based Business Models

Billing Platform

The subscription economy is booming , and with good reason. Whether a consumer or business, you can purchase a subscription for virtually anything – from clothing and coffee to software and data storage. Today, nearly everything and anything is offered on a subscription model basis, including products and services previously thought unsuitable for this business model such as vehicles, healthcare, and accommodations.

Billing 52
article thumbnail

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.

article thumbnail

IRS Agents Working From Home Can Watch H&R Block Reality TV Show

Cloud Accounting Podcast

We're celebrating surpassing 10,000 YouTube subscribers! Thank you! Blake and David look into H&R Block's new reality show about teaching people life skills like doing their taxes. They also talk about workflow automation challenges for accounting firms, how the IRS is contacting wealthy non-filers, and the Trump Organization CFO pleading guilty to perjury.

CPA 43