Thu.Apr 25, 2024

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A holistic solution to accounting's retention problem

Accounting Today

Firms must transform their business models to afford the cost of multilayered retention strategies, a new report by the Pennsylvania Institute of CPAs says.

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Making the Switch to Outsourced Client Accounting Services

Accounting Department

When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas.

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Reasons to come and visit Xero at Accountex London 2024

Xero

Nothing beats an in-person event. Especially one like Accountex, where the curated speakers, exhibits, and masterclasses mean you can build both your knowledge and industry friendships – all in one place. This year, we’re bringing our popular masterclasses back, along with a whole team of Xero experts to help you cultivate an efficient and rewarding practice.

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Tax reporting transparency reaches a tipping point

Accounting Today

Regulators, investors and the public are demanding ever greater tax transparency, and companies must navigate evolving, complex reporting requirements around the globe.

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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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Contributing Analysts Wanted for App Reviews

Insightful Accountant

Insightful Accountant is looking for a few Good ProAdvisors who want to contribute an analysis of apps we intend to compare. Do you like to review apps, more importantly, do you regularly work with a few great apps, you might be our Pros.

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IRS, Treasury finalize rules on energy tax credit transfers

Accounting Today

The Internal Revenue Service and the Treasury Department released final regulations on the transfer of clean energy manufacturing, investment and production tax credits, with specific rules for partnerships and S corporations.

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Ultra-rich should pay taxes to save Social Security, poll shows

Accounting Today

An overwhelming 77% of registered voters in the seven states that will decide the 2024 presidential election like the idea of a billionaires tax to bolster Social Security shortfalls.

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When to File an Amended Federal Tax Return: A Guide for Taxpayers

Insightful Accountant

When taxpayers realize their federal tax return has a math error, missing income or other mistake, they should file an amended tax return.

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Which generative AI model did best on the CPA exam?

Accounting Today

A recent experiment tested different generative AI models against each other on the CPA Exam and found they each have their own strengths and weaknesses.

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Downward demand spiral definition

Accounting Tools

What is a Downward Demand Spiral? A downward demand spiral occurs when a business eliminates products without sufficiently reducing the overhead costs associated with them. When this happens, overhead is allocated across the fewer remaining products, which increases their cost per unit. With a higher cost base, management is more likely to increase the prices of the remaining products, which makes them harder to sell.

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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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Senators introduce bill to simplify IRS notices

Accounting Today

Sens. Cassidy and Warren teamed up to introduce legislation aimed at making math error notices from the IRS easier to understand.

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Loan shark definition

Accounting Tools

What is a Loan Shark? A loan shark is a person or business that charges a higher interest rate for loans than is allowed by law. Maximum interest rates are typically set at the state level, so an entity is considered a loan shark if it lends above the legal interest rate in the state in which it does business. Loan sharks use threats of various kinds to obtain repayment.

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Bring in more CAS clients with SEO

Accounting Today

Optimizing your presence online can maximize the reach of your client advisory services practice — and all your other practices, as well.

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Recognition definition

Accounting Tools

What is Recognition in Accounting? Recognition is the recordation of a business transaction in an entity's accounting records. Here are several examples of recognition: Recognition of a loss. A loss is recognized on a lower of cost or market analysis, thereby recording the loss in the accounting records. Recognition of a sale. A sale transaction is recognized by recording revenue in the accounting records.

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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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Hedge fund founder claims controversial tax trades were 'completely legal'

Accounting Today

Cum-Ex was a tax-driven trading strategy in which a global network of bankers, lawyers and agents exploited loopholes on dividend payout laws across Europe to reap duplicate tax refunds.

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AWS VPC: 5 Essential Strategies to Optimize your VPC Network

Economize

An Overview of AWS VPC AWS VPC or Amazon Virtual Private Cloud is a logically isolated virtual network in the cloud where you can securely launch your AWS resources. It creates a private network within the cloud environment where you can securely deploy your applications and data centers.

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Tax Fraud Blotter: Go for broke

Accounting Today

Speedy sentencing; WWTF; no longer Confident; and other highlights of recent tax cases.

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8 Key Features to Look for in a QuickBooks Enterprise Hosting Provider

Ace Cloud Hosting

One of the most popular desktop-based accounting and financing management software, QuickBooks Enterprise, is a game changer for many. From invoicing to payroll and inventory management, QuickBooks Enterprise helps you.

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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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What disclosures do the Fortune 500 put in their annual reports?

Accounting Today

Companies are increasingly prioritizing cybersecurity, executive compensation clawbacks and more.

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Hitting $1.5M in 36 months (And Selling the Firm)

Jetpack Workflow

Podcast Summary In this episode of Growing Your Firm, host David Cristello interviews Jordan Sublette, the CEO and founder of Cloud Accounting Staffing. Jordan shares his journey of building and selling his firm, and dives into the world of outsourcing talent. They discuss the challenges of talent crunches and how Jordan navigated through them. Tune in to gain insights on building a successful firm and leveraging outsourcing effectively.

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Which Is Better: A Monthly Bookkeeping Service or Your Bookkeeping Software?

CSI Accounting & Payroll

When it comes to small business bookkeeping, there are a few options. Here, we hone in on two of them: bookkeeping services and bookkeeping software. You might think that the only thing to consider is price, but there are a few key differences to highlight before you decide to move forward with a bookkeeping solution. At CSI Accounting & Payroll, we’ve worked with small business accounting for over 50 years.

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Content Management Strategy

oAppsNet

A robust content management strategy is essential for businesses to create, organize, and distribute content effectively. We’re here to help you develop and implement an effective content management strategy that drives engagement, enhances brand visibility, and ultimately achieves business objectives. 1. Define Clear Goals and Objectives The foundation of any successful content management strategy lies in defining clear and measurable goals and objectives.

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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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Top Remote Accountants for Hire | April 25, 2024

accountingfly

Top Remote Accounting Candidates This Week Looking for remote accountants? Accountingfly can help! With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accountants with no upfront cost. These are just a few of our top candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

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Choosing The Best Online Invoice Generator: A Comprehensive Comparison Guide

Invoicera

Introduction Are you having a hard time creating professional invoices? You’re not alone. According to the survey, more than 60% of small business owners consider it a time-consuming and irritating task to issue invoices. Worry no more! Online invoice generators have made it possible for businesses to manage billing in different ways. With just a few clicks, you can now make professional-looking and clean invoices with no need for design skills.

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Oracle Helps Federal Agencies Optimize Finance in the Cloud

Insightful Accountant

Oracle Fusion Cloud ERP solution helps U.S. federal agencies increase efficiency and provide better services to their constituents.

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Google Blames Accounting Layoffs on AI

Cloud Accounting Podcast

Blake and David take a dive into Google's decision to offshore accounting jobs to Mexico and India, which Google’s CFO claims is necessary to free up resources to invest in AI. They also discuss the stagnation of CPA salaries despite a shortage of talent. The conversation touches on a variety of other topics, including the modernization of the IRS, the future of the CPA profession, and advice for young accountants looking to carve their own career paths in a rapidly changing industry.

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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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Invoice factoring definition

Accounting Tools

What is Invoice Factoring? Factoring is the use of a borrowing entity's accounts receivable as the basis for a financing arrangement with a lender. The borrower is willing to accept a factoring arrangement when it needs cash sooner than the payment terms under which its customers are obligated to pay. Factors are usually willing to advance funds quite rapidly under this type of arrangement.

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AWS Updates Savings Plans, Compute Optimizer, and Tagging

FinOps Foundation

Key Insight: In March, AWS delivered four updates that help FinOps Practitioners tackle their top two key priorities this year , namely reducing waste or unused resources and managing commitment discounts. The recommended approach is to address both usage and rate optimization in tandem, and the FinOps Framework Domains have been updated to reflect that approach.

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Stakeholder value definition

Accounting Tools

What is Stakeholder Value? Stakeholder value involves creating the optimum level of return for all stakeholders in an organization. This is a more broad-based concept than the more common shareholder value, which usually focuses just on maximizing net profits or cash flows. The stakeholder value concept still places some emphasis on net profits or cash flows, but it also incorporates the needs of other stakeholders, such as employees, the local community, governments, customers , and suppliers.

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AWS Updates Savings Plans, Cost Optimizer, and Tagging

FinOps Foundation

Key Insight: In March, AWS delivered four updates that help FinOps Practitioners tackle their top two key priorities this year , namely reducing waste or unused resources and managing commitment discounts. The recommended approach is to address both usage and rate optimization in tandem, and the FinOps Framework Domains have been updated to reflect that approach.

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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.