Accounting Department
MAY 11, 2023
For any business owner, one of the key areas of focus should be the company’s future. Financial planning is a vital part of that plan, helping business owners leverage growth and expand their operations. If a business owner hasn’t focused on this aspect, they need to understand what it is, what it does, and how it differs from regular accounting. What Is FP&A?
Ascend Software blog
MAY 11, 2023
Invoicing is an essential aspect of any business, and it is vital to have a good understanding of the key invoice terms to ensure accurate billing and timely payment. Here are the top invoice terms that every business owner or freelancer should know.
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CSI Accounting & Payroll
MAY 11, 2023
We know nobody really likes tax season. However, the work you do now could be the difference between saving money or spending money in the Spring. Did you know that an annual tax accountant can only fill out your tax forms according to what's already happened? They can't truly help with tax planning because they don't work with your accounting year-round; their job mostly involves recording history.
Insightful Accountant
MAY 11, 2023
W-9 and Contractor Payment options are among the QuickBooks Online updates inspired by accountants.
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.
Tipalti
MAY 11, 2023
Spend management, which involves controlling and optimizing a company's expenses, is an essential part of the procurement process. This guide outlines effective strategies for implementing spend management in your organization.
Insightful Accountant
MAY 11, 2023
The organizations have released a new online learning platform that will help accounting and finance professionals improve and update their skills in today's digital landscape.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
LedgerDocs
MAY 11, 2023
As a business owner , one of the keys to maximizing profits is to identify and reduce unnecessary expenses. By streamlining your expenses, you can free up cash flow, increase your bottom line, and reinvest in your business. Here are some tips for identifying and reducing business expenses: 1. Review your Expenses Regularly Review your financial statements and identify all the expenses that your business incurs.
Future Firm
MAY 11, 2023
In my 100th episode, I want to emphasize the importance of systematizing your business to achieve the lifestyle you want. Standardizing service packages and processes through systematization can help you maintain sanity and expand your firm. If you want an incredible lifestyle through your firm, start with systematization. Listen below. 1:39 – In this episode, I’ll talk about how systematizing your firm can help you achieve the fulfilling and happy lifestyle you want. 2:17 – Fi
Tipalti
MAY 11, 2023
Managing cash flow is a critical part of any business strategy–but why is it important and what are the best cash management techniques? Learn more in our in-depth guide.
Insightful Accountant
MAY 11, 2023
Find out a better way of integrating apps and automating the flow of data between them. Sign up today.
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.
Tipalti
MAY 11, 2023
Effective management of working capital boils down to companies making the most of their financial resources–learn more in our full overview.
Accounting Tools
MAY 11, 2023
Related Courses Accounting for Investments Corporate Finance GAAP Guidebook What is an Unamortized Bond Premium? Unamortized bond premium is the difference between the price at which a bond was sold and its face value. It is classified as a liability of the bond issuer , since it represents interest that has not yet been paid to bondholders. The unamortized bond premium account contains the remaining amount of bond premium that the bond issuer has not yet charged off to interest expense over the
Tipalti
MAY 11, 2023
What’s the difference between reimbursements and disbursements, and when and how do you use each? Read our guide for a full breakdown.
Accounting Tools
MAY 11, 2023
Related Courses Budgeting Capital Budgeting The Nature of Step Costs A step cost is a cost that does not change steadily, but rather at discrete points. A step cost is a fixed cost within certain boundaries, outside of which it will change. For example, a production manager finds that his facility can produce a maximum of 3,000 widgets per week if he uses one shift, but that he needs to start a second shift in order to meet any additional demand.
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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!
Tipalti
MAY 11, 2023
Accrued expenses and accounts payable play distinct roles in a company's balance sheet, contributing to its financial framework.
Accounting Tools
MAY 11, 2023
Related Courses Capital Budgeting What is a Capital Investment? A capital investment involves the purchase or construction of long-term assets. These assets are expected to be used over a prolonged period of time, either to produce more goods or services, or to increase the efficiency with which goods or services are produced. Some portion of the funds involved in a capital investment may also be needed to increase the available level of working capital , which is needed to support ongoing opera
Accounting Tools
MAY 11, 2023
Related Courses Corporate Cash Management Payables Management What is Processing Float? Processing float is the time period between when a payee receives a payment from the payer and deposits it. A lengthy processing float reduces the availability of funds for the payee. The duration of the processing float is driven by the payee's internal processes, staff training, and the existence of any work backlog.
Accounting Tools
MAY 11, 2023
Related Courses Business Ratios Guidebook Business Valuation What is Market Share? Market share is the proportion of an entire market's sales that is taken by a specific organization. It is represented as a percentage of the market, and is useful for gaining a general sense of a firm’s size in comparison to its competitors. Owning a large percentage of market share is a strong indicator of the success of a business, especially if that share is increasing over time.
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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
MAY 11, 2023
Related Courses Cost Accounting Fundamentals What is Variable Cost? A variable cost is a cost that varies in relation to changes in the volume of activity. A variable cost increases as the level of activity increases; for example, the total cost of direct materials goes up in conjunction with increases in production volume. The variable cost concept can be used to model the future financial performance of a business, as well as to set minimum price points.
Accounting Tools
MAY 11, 2023
Related Courses Corporate Cash Management Payables Management What is Presentation Float? Presentation float is the time between when a check is deposited and when the related funds are withdrawn from the payer's checking account. It is somewhat shorter than the availability float , which also includes the time required to make the funds available to the payee.
Accounting Tools
MAY 11, 2023
Related Courses Bookkeeping Guidebook What is Prepaid Advertising? Prepaid advertising is a current asset account, in which is stored all advertising that was paid for in advance but not yet consumed. As these costs are consumed (such as through the running of television or Internet ads), the applicable portion of this asset is recognized as advertising expense.
Accounting Tools
MAY 11, 2023
Related Courses Operations Management What is Producer’s Risk? Producer's risk relates to incurring a loss despite creating a good batch. In this case, a good batch is rejected by inspection; this is known as a Type 1 error. This risk relates to the following situations: The manufacturer incurs a loss because it rejects a batch that it could have accepted; or The manufacturer incurs a loss because it accepts a batch that is then rejected by the customer.
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
MAY 11, 2023
Related Courses New Controller Guidebook Human Resources Guidebook Performance Appraisals What is a Performance Report? A performance report addresses the outcome of an activity or the work of an individual. The report may compare actual outcomes to a budget or standard, as well as the variance between the two figures. The recipient of a performance report is expected to take action when there is an unfavorable variance.
Accounting Tools
MAY 11, 2023
Related Courses Credit and Collection Guidebook Effective Collections What is Credit Analysis? Credit analysis is a review conducted by an outside party on a business or individual to judge the subject’s ability to repay debt. This analysis typically involves a review of credit scores, cash flows , income, and the presence of sufficient collateral to pay back debt.
Accounting Tools
MAY 11, 2023
Related Courses The Statement of Cash Flows What is the Statement of Cash Flows? The statement of cash flows is one of the financial statements issued by a business, and describes the cash flows into and out of the organization. Its particular focus is on the types of activities that create and use cash, which are operations, investments, and financing.
Accounting Tools
MAY 11, 2023
Related Courses Budgeting Mergers and Acquisitions The Problem With Budgeting for Acquisitions When preparing a budget , it is extremely difficult to estimate the impact of any acquisitions that may take place during the upcoming budget year. An optimistic president may want you to include several projected acquisitions in the budget, even though they have not been finalized.
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!
Accounting Tools
MAY 11, 2023
Related Courses Accountants' Guidebook New Controller Guidebook What is Adequate Disclosure? Adequate disclosure is the concept that the complete package of an entity's financial statements and accompanying disclosures should provide all key information needed by users to understand the entity's financial situation. Users need an adequate level of disclosure to make good decisions regarding whether to provide credit to or invest in an organization.
Accounting Tools
MAY 11, 2023
Related Courses Auditing State and Local Governments Governmental Accounting The Green Book Explained The Yellow Book Explained An agency fund is an assemblage of funds that one government agency holds on behalf of another government agency. For example, if the State of Colorado collects sales tax funds on behalf of the City of Aurora, these funds are considered to be agency funds.
Accounting Tools
MAY 11, 2023
Related Courses New Controller Guidebook What is Administrative Accounting? Administrative accounting involves the collection of performance information and the generation of reports from this information that assist management in running an organization. The reports are used on a daily basis to maintain control over and optimize operations. It tends to have quite a granular focus within an organization, so that managers can use the resulting information to make highly-targeted decisions to impr
Accounting Tools
MAY 11, 2023
Related Courses Guide to Auditor Legal Liability How to Conduct an Audit Engagement The Audit Risk Model What is Accountant’s Liability? An accountant's liability is the potential legal risk that an auditor bears for not spotting misstatements in a client's financial statements. If the auditor does not spot these misstatements and the financials are then sent out to users with a clean audit opinion , the auditor is liable for losses suffered by the users.
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