Tue.Jul 18, 2023

article thumbnail

Study finds Great Recession increased physical pain as well as economic

Accounting Today

A recent study said that the Great Recession caused not just economic pain but long term physical pain in certain individuals as well, an effect that persists well into the present day.

246
246
article thumbnail

Top KPIs for Manufacturing Businesses

Accounting Department

In the competitive world of manufacturing, success hinges on the ability to measure and improve crucial metrics that drive operational efficiency, quality, and profitability. Key performance indicators (KPIs) provide valuable insights into the performance of various aspects within a manufacturing company, enabling data-driven decision-making and fostering continuous improvement.

171
171
professionals

Sign Up for our Newsletter

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

article thumbnail

Crypto scam losses soared in U.S., fell in rest of world

Accounting Today

Cryptocurrency fraud losses nearly doubled last year in this country, a marked contrast with the rest of the world, where they actually fell by around half.

246
246
article thumbnail

AWS Textract Teardown - Pros and Cons of using Amazon's Textract in 2023

Nanonets

Text Recognition in 2023 In many companies and organizations, plenty of valuable business data is stored in documents. This data is at the heart of digital transformation. Unfortunately, according to statistics, 80% of all this data is embedded in unstructured formats like business invoices, emails, receipts, PDF documents, and many more. Therefore, to extract and make the most out of information from these documents, companies slowly started relying on Artificial intelligence (AI) based service

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

Forensic accountants aid suspicious spouses in divorces

Accounting Today

These experts aren't only helping businesses and investors uncover fraud — they also can help people who are going through a divorce trace assets.

article thumbnail

Review of TurboTax LIVE Full Service Business 2023 for Tax Professionals

Blake Oliver

Tax pros - want an inside look at TurboTax's new full-service offering for business returns? My business partner David Leary and I just went through the process of using TurboTax LIVE Full Service for our partnership return and recorded our experience in a new video. Watch to see: How the onboarding and document collection process works Where the experience fell short compared to working directly with a CPA/EA The surprise requirements needed before our preparer could file How responsive and ava

Tax 98

More Trending

article thumbnail

50+ Key SaaS Statistics To Know In Under 15 Minutes (2023)

CloudZero

Getting the right information at the right time can dramatically change the direction of your business. Yet, you may not have enough time to keep up with everything.

97
article thumbnail

Key audit matter disclosures point to greater financial distress

Accounting Today

The more KAMs disclosed in an audit report, the higher the distress level of a company, according to a new study

Auditing 246
article thumbnail

Another QuickBooks Email – "Final Reminder"

Insightful Accountant

The newest email from Intuit QuickBooks is a Final Reminder to Become PCI Compliant Today. I have one and don't even have an active Payments Account.

article thumbnail

The top tax developments of 2023 — so far

Accounting Today

Forty of the most important court cases, revenue rulings, laws, regs and other guidance in the world of tax.

Tax 246
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

Examples of key journal entries

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook Journal entries are used to record business transactions. The following journal entry examples provide an outline of the more common entries encountered. It is impossible to provide a complete set of journal entries that address every variation on every situation, since there are thousands of possible entries.

article thumbnail

Canada to stick with planned tax on big tech the U.S. opposes

Accounting Today

Ottawa has pledged to implement a new digital services tax in early 2024, unless a global tax agreement is ratified by OECD countries.

Tax 130
article thumbnail

The difference between shareholders and stakeholders

Accounting Tools

Related Courses CFO Guidebook Investor Relations Guidebook What is a Shareholder? Shareholders and stakeholders are both associated with a corporation , but their interests in the organization differ. A shareholder is a person or entity that owns shares in the corporation. A shareholder is entitled to vote for the board of directors and a small number of additional issues, as well as receive dividends from the business and share in any residual cash if the entity is sold or dissolved.

74
article thumbnail

Adopting a model for better audits

Accounting Today

Familiarity with the Capability Maturity Model empowers companies to proactively prepare for audits by equipping them with knowledge about specific audit challenges associated with each level.

Auditing 100
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

Streamline Payment Workflow with Recurring Invoices and Automatic Billing

Invoicera

Managing payments efficiently is important to maintain a healthy cash flow for any business. If you are struggling with payment workflow issues, we will be happy to help you streamline payment workflow with recurring invoices and automatic billing. We are living in the age of technology, where you can automate invoicing process to positively impact the bottom line.

Billing 52
article thumbnail

In the blogs: Good intentions

Accounting Today

Green is costing green; Moore to come; disaster disbelief; and other highlights from our favorite tax bloggers.

Tax 100
article thumbnail

MBIE have 5 Fair Pay Agreements to bargain

Ontrack Bookkeeping

MBIE have approved 5 applications from unions to start bargaining for Fair Pay Agreements (FPAs). If a company employs people in an occupation or industry you are in which is covered by a Fair Pay Agreement where bargaining has started, there are specific actions you need to take – and now. More details are below. The industries and occupations include the following: Early childhood education industry — Public notice of approval of application [PDF 145 KB] Commercial cleaner occupation —

article thumbnail

An Overview of Netsuite AP Automation

Nanonets

The traditional approach to accounts payable can be time-consuming, error-prone, and resource-intensive, hindering the organization's ability to focus on strategic initiatives. Fortunately, cutting-edge advancements in automation technology have revolutionized the accounts payable landscape, offering businesses an opportunity to streamline their workflows and achieve unprecedented levels of efficiency.

AP 52
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

What do pay my employee if they go home sick on a public holiday?

Ontrack Bookkeeping

This is a question that has come up in our Payroll Essentials Training Course that is currently running. Scenario: An employee comes to work for 2 hours on a public holiday, then has to go home early due to being ill. This is what they would receive for the day 2 hrs at time and half 1 x alternative day IF the day is a otherwise working day for the employee What happens to the rest of day?

Payroll 52
article thumbnail

Streamline Payment Workflow with Recurring Invoices and Automatic Billing

Invoicera

Managing payments efficiently is important to maintain a healthy cash flow for any business. If you are struggling with payment workflow issues, we will be happy to help you streamline payment workflow with recurring invoices and automatic billing. We are living in the age of technology, where you can automate invoicing process to positively impact the bottom line.

Billing 52
article thumbnail

Review of TurboTax LIVE Full Service Business 2023 for Tax Professionals

Cloud Accounting Podcast

Join Blake Oliver, CPA, and David Leary as they review using TurboTax Live Full Service for their business taxes. See their candid reactions and feedback as they go through the process of filing their 2022 taxes with TurboTax for the first time. Blake and David walk through the steps of getting matched with a tax expert, gathering documents, communicating with their preparer, and finally filing their partnership return.

Tax 52
article thumbnail

Overcoming the Top 5 Challenges Faced by CPA Firms

Analytix Finance & Accounting

CPA firms play a critical role in today’s complex financial landscape. They provide essential services ranging from audits and tax preparation to consulting and advisory services. However, operating a successful CPA firm comes with its fair share of challenges. From constantly changing regulatory requirements to fierce competition, CPA firms often face obstacles that can hinder their growth and profitability.

CPA 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

4 Ways to use Trusted Advisor for AWS Cost Optimization

Economize

Learn how to leverage Trusted Advisor, one of AWS's key tools, to optimize costs, improve performance, and secure your systems. This article provides detailed steps on how to use Trusted Advisor for cost optimization, highlighting its key features and functionalities.

article thumbnail

CloudHealth Vs. CloudWatch: How Do They Differ?

CloudZero

Amazon’s CloudHealth and VMware’s CloudHealth are two of the most popular cloud management and system monitoring platforms today. But which platform does what, and are they even direct competitors?

52
article thumbnail

How to Achieve a Zero Accounts Receivable Business

Insightful Accountant

Ignition's Matt Kanas explains how firm owners can build or transition their business to have zero AR.

article thumbnail

Margin definition

Accounting Tools

What is Margin? Margin is the difference between revenue and the associated cost of sales. There are several variations on the concept, which are noted below. These margins are closely followed by managers and investors, since even a small decline in any of them can be a precursor to ongoing losses. Gross Margin Gross margin is revenues minus both the fixed and variable components of the cost of goods sold.

40
article thumbnail

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!

article thumbnail

HubSync Unveils Gateway

Insightful Accountant

The integrated and centralized dashboard helps enhance client engagement and provides CPA firms of all sizes with 360-degree visibility across operations.

CPA 52
article thumbnail

Incentive wage plan definition

Accounting Tools

Related Courses Human Resources Guidebook Payroll Management What is an Incentive Wage Plan? An incentive wage plan offers an increased level of compensation when employee performance exceeds a threshold level. These plans are intended to incentivize employees to become more efficient and effective in completing their designated tasks. A plan could involve either an increase in output or a reduction in expenses.

Payroll 40
article thumbnail

Member Spotlight: My First Credit Congress

NACM

NACM's 127th Credit Congress provided an opportunity for credit professionals to experience educational sessions, networking and fun! Several attendees were present as first-timers this year in Grapevine, TX."Credit congress really exceeded my expectations," said Araceli Magana, CBA, credit analyst at Joseph T Ryerson & Son, Inc. (Vernon, CA).

5
article thumbnail

Merchandiser definition

Accounting Tools

Related Courses Accounting for Merchandising Operations Retail Management What is a Merchandiser? A merchandiser is an entity that acquires and resells inventory. The focus of this business model is to have an efficient inventory acquisition method and the ability to market and sell the goods to the end consumer. There are several ways in which a merchandiser can obtain inventory, which are noted below.

article thumbnail

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.