Xero
APRIL 16, 2023
Since he was young, Johnno Green has had a penchant for construction. So one day when a guest speaker at his high school came looking for apprentice plasterers, he knew he’d found his break. Johnno cut his teeth working on residential builds before the Global Financial Crisis hit the housing market (and his employers), forcing a pivot into the commercial sector.
Insightful Accountant
APRIL 16, 2023
Fortune Accounting and Business Solutions' Ibi Ojo shows you why even though 'Black History Month' is over, creating a more inclusive and diverse environment is critical.
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Xero
APRIL 16, 2023
More and more businesses are focusing on sustainability, and for good reason. Not only do many small business owners personally feel it’s important to play a role in protecting the environment, doing so is proven to have a positive impact on their bottom line. We understand that taking the first steps toward sustainability in your business can feel overwhelming.
Outsourced Bookeeping
APRIL 16, 2023
Today, technology is revolutionizing the way businesses handle their payroll management and bookkeeping responsibilities. Employers can now take advantage of outsourced bookkeeping services, use cloud-based accounting software, and leverage AI to automate time-consuming tasks. The Future of Payroll Management: How Technology is Changing the Landscape?
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.
Xero
APRIL 16, 2023
When we look at a technology that has massive future potential, while already sitting firmly in the here and now, it’s hard to go past e-invoicing. The ability to send and receive invoices directly between accounting systems (and eliminate the need for manual, error-prone PDFs sent via email) offers some very exciting benefits. E-invoicing is in various stages of adoption around the world, with some governments either mandating or supporting it as a core part of the invoicing process.
Insightful Accountant
APRIL 16, 2023
As a prelude to her upcoming 'QB Talks' this week, Liz Scott provides a preview of the different scenarios where app stacking can be helpful.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Nanonets
APRIL 16, 2023
Introduction As we continue to move into a paperless society , business accounting is on a transformative journey. Companies have begun to actively invest in software solutions that digitize their accounts payable workflows. Source: esker The introduction of intelligent automation into the accounts payable process minimizes the risk of manual intervention, accelerates operations, and helps maintain compliance.
Accounting Tools
APRIL 16, 2023
Related Courses GAAP Guidebook What is the Accounting for Gift Cards? The essential accounting for gift cards is for the issuer to initially record them as a liability , and then as sales after the card holders use the related funds. There are varying treatments for the residual balances in these cards, as noted below. Liability Recognition The initial sale of a gift card triggers the recordation of a liability, not a sale.
Nanonets
APRIL 16, 2023
PO Matching is the process of connecting a purchase order (PO) issued by a client indicating types, quantities, and agreed prices for products/services to the invoice issued by a vendor for it's delivery. The goal of PO matching is to ensure timely vendor payments, correct accounting of costs and easy detection of fraudulent practices. Manual PO Matching Steps in the PO Matching Process PO matching involves several steps, including the receipt & capture of invoice data , verificat
Accounting Tools
APRIL 16, 2023
Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Return on Average Assets? The return on average assets measures the efficiency with which a business utilizes its assets to generate a profit. It is most commonly used to measure the performance of financial institutions. How to Calculate the Return on Average Assets The return on average assets calculation follows these steps: Derive the average assets by adding together the beginning and ending boo
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
APRIL 16, 2023
Related Courses The Balance Sheet The Interpretation of Financial Statements What are Operating Assets? Operating assets are those assets acquired for use in the conduct of the ongoing operations of a business; this means assets that are needed to generate revenue. Examples of operating assets are cash , prepaid expenses , accounts receivable , inventory , and fixed assets.
Accounting Tools
APRIL 16, 2023
Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Divestitures and Spin-Offs Mergers and Acquisitions Enterprise value measures the total value of a company. It includes the entire market value of a business rather than just the value of its equity , so that all debt offsets are included. Enterprise value is a good representation of the cost that an acquirer would incur if it were to purchase another business, since it represents the additional costs asso
Accounting Tools
APRIL 16, 2023
Related Courses Bookkeeping Guidebook New Controller Guidebook What is the Chart of Accounts? The chart of accounts is a listing of all accounts used in the general ledger of an organization. The chart is used by the accounting software to aggregate information into an entity's financial statements. The chart is usually sorted in order by account number, to ease the task of locating specific accounts.
Accounting Tools
APRIL 16, 2023
Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is the Units of Production Method? Under the units of production method, the amount of depreciation charged to expense varies in direct proportion to the amount of asset usage. Thus, a business may charge more depreciation in periods when there is more asset usage, and less depreciation in periods when there is less usage.
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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
APRIL 16, 2023
Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Sum of the Years' Digits Depreciation? The sum of the years' digits method is used to accelerate the recognition of depreciation. Doing so means that most of the depreciation associated with an asset is recognized in the first few years of its useful life. This method is also called the SYD method.
Accounting Tools
APRIL 16, 2023
Related Courses GAAP Guidebook International Accounting Public Company Accounting and Finance What is the Summary of Significant Accounting Policies? The summary of significant accounting policies is a section of the footnotes that accompany an entity's financial statements , describing the key policies being followed by the accounting department. This summary is usually placed at or near the beginning of the footnotes.
Accounting Tools
APRIL 16, 2023
What is the Statement of Owner’s Equity? The statement of owner's equity portrays changes in the capital balance of a business over a reporting period. The concept is usually applied to a sole proprietorship , where income earned during the period is added to the beginning capital balance and owner draws are subtracted. The result is the ending balance in the capital account.
Accounting Tools
APRIL 16, 2023
Related Courses The Interpretation of Financial Statements The Statement of Cash Flows What is the Cash Flow Statement Direct Method? The direct method of presenting the statement of cash flows presents the specific cash flows associated with items that affect cash flow. Items that typically do so include: Cash collected from customers Interest and dividends received Cash paid to employees Cash paid to suppliers Interest paid Income taxes paid The advantage of the direct method over the indirect
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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
APRIL 16, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is an Account Reconciliation? An account reconciliation is the actions taken to prove that an account balance is valid. The concept is most commonly associated with the bank reconciliation , where a company’s recorded cash balance is compared to the bank’s end-of-month bank statement and adjusted as necessary to make the two balances match.
Accounting Tools
APRIL 16, 2023
Related Courses C Corporation Tax Guide S Corporation Tax Guide Types of Business Entities What is Incorporation? Incorporation is the steps required to create a corporation. At the end of this process, there is a separate legal entity that is owned by one or more shareholders. This entity is usually identified with the letters “Inc.” or “Limited” after its name.
Accounting Tools
APRIL 16, 2023
Related Courses Accounting for Inventory How to Audit Inventory What is the Specific Identification Method? The specific identification method is used to track individual items of inventory. This method is applicable when individual items can be clearly identified, such as with a serial number, stamped receipt date, bar code, or RFID tag. Specific Identification Method Requirements The principle requirements of a specific identification tracking system are as follows: Be able to track each inven
Accounting Tools
APRIL 16, 2023
Related Courses Accounting for Inventory How to Audit Inventory What is the Weighted Average Costing Method? The weighted average method is used to assign the average cost of production to a product. Weighted average costing is commonly used in the following situations: Inventory items are so intermingled that it is impossible to assign a specific cost to an individual unit; The accounting system is not sufficiently sophisticated to track FIFO or LIFO inventory layers; or Inventory items are so
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.
Accounting Tools
APRIL 16, 2023
Related Courses The Income Statement The Interpretation of Financial Statements What is a Condensed Income Statement? A condensed income statement reduces much of the normal income statement detail to just a few lines. Typically, this means that all revenue line items are aggregated into a single line item, while the cost of goods sold appears as one line item, and all operating expenses appear in another line item.
Accounting Tools
APRIL 16, 2023
Related Courses The Income Statement The Interpretation of Financial Statements What is a Multi-Step Income Statement? The multi-step income statement includes multiple subtotals within the income statement. This layout makes it easier for readers to aggregate selected types of information within the report, especially in regard to the core operations of a business.
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