Wed.Sep 20, 2023

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Revenue, partner income and profits keep growing at CPA firms

Accounting Today

Accounting firms are seeing their revenues, partner income and profits increase this past year, even as more firms resort to outsourcing to fill their talent shortages.

CPA 300
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Xero Beautiful Business Fund: Meet our global judges

Xero

The application period for the Xero Beautiful Business Fund will be wrapping up a few short weeks! To help us select the winners of the 2023 Xero Beautiful Business Fund, we’ve lined up a stellar list of regional and global judges. The judges represent small businesses, accountants and bookkeepers and Xero’s global partners. They will play a key role in evaluating the entries to help our small business winners achieve their ambitions.

XERO 250
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Navigating crypto accounting within the GameFi landscape

Accounting Today

Gaming Finance represents a radical departure from conventional gaming models. It's a concept that doesn't just entertain players; it empowers them economically.

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How Outsourced Client Accounting Services Can Help You Maximize Efficiency

Accounting Department

In today's fast-paced business environment, maximizing efficiency is key to staying competitive and achieving sustainable growth. One area where businesses can significantly streamline their operations is within their accounting department. By outsourcing these functions to client accounting service experts, organizations can focus on their core activities while benefiting from enhanced accuracy, improved financial processes, and valuable time savings.

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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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IRS sets up unit to focus on tax compliance at pass-throughs

Accounting Today

The service is establishing a group within its Large Business and International division to bolster tax compliance at large partnerships and S corps.

Tax 311
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Fidesic Features Spotlight: Vendor Portal

Fidesic blog

It’s time to check out our feature of the month in the Fidesic app. Today we are putting the spotlight on our Vendor Portal.

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App Aware: Acctivate Inventory for QBO

Insightful Accountant

If you've worked with QuickBooks Desktop and inventory, chances are you've heard the name Acctivate. It recently was added to the Intuit QuickBooks App store, so I thought I'd make you 'App Aware' of its listing.

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IRS showcases student loan assistance programs

Accounting Today

The service held a webinar to raise awareness about programs that companies can use to help employees pay off student loans and other educational expenses.

Tax 300
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Challenges and Solutions in Adopting AI for Small and Medium Accounting Firms

Dext

Like the rest of us, you keep hearing about AI — everywhere. You’re intrigued, but also a tad sceptical. You might be thinking, artificial intelligence sounds like a big league play. And, after all, how would it affect your business? Well, hold that thought. If you’re curious, stick around.

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Helping clients recover from tax scams

Accounting Today

Fraudsters are ever-inventive, and accountants and tax pros need to make sure their clients keep vigilant.

Tax 305
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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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The Guide to Organizing Financial Documents Like an Financial Expert

LedgerDocs

Bookkeepers are the financial defense line of businesses. They are responsible for maintaining accurate and organized records to ensure that the organization remains compliant with tax regulations and allows for all employees of the company to locate critical company history easily. The efficiency in organizing financial documents, such as tax records, invoices, receipts, bank statements, and reports can make a significant difference on their own efficiency and success and the organization’

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FTC warns prep companies about misusing customer data

Accounting Today

Five tax giants received a shot across the bow from the Federal Trade Commission.

Tax 305
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Capitalization limit definition

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is the Capitalization Limit? The capitalization limit is the amount paid for an asset , above which an entity records it as a long-term asset. If an entity pays less than the capitalization limit for an asset, it charges the asset to expense in the period incurred. This limit is imposed in order to reduce the record keeping associated with long-term assets.

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Where business boomed: Changes in federal tax collections by state

Accounting Today

The top three states had an average change percentage of 215.76% between 2021 and 2022.

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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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To ChatGPT or Not to ChatGPT.

Insightful Accountant

In today's evolving technological landscape, trends like ChatGPT continue to take hold. Petrinovich Pugh & Company's Sean McLean and ZentLaw's Monica Zent explain why it might be time to take the leap.

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Accounting Today calls for nominations for 2023 Top 100 People

Accounting Today

The annual list recognizes thought leaders, decision-makers, standard-setters and others who are shaping the future of the profession.

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3 Latest GCP AI Updates – Duet AI, AlloyDB AI, and Vertex AI

Economize

In today’s digital landscape, harnessing the power of Artificial Intelligence (AI) is no longer a luxury but a necessity. Companies across industries are leveraging AI to make data-driven decisions, enhance customer experiences, and drive innovation. Google Cloud Platform (GCP), a pioneer in cloud technology, continues to push the boundaries of what’s possible in AI.

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ESG assurance on the rise outside G20

Accounting Today

More companies across the globe are doing sustainability reporting and receiving assurance services, including in countries outside the G20, according to a new report.

Auditing 171
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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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Fintech Adoption Hotspots

Tipalti

Our financial technology experts at Tipalti have researched which countries have embraced fintech the most. We’ve looked at global fintech adoption rates, Google searches for fintech by country, and the regions that have the highest virtual capital funding, to uncover the world’s biggest Fintech adoption hotspots.

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IRS's proposed changes to R&D tax credit form may reduce examinations

Accounting Today

The revised Form 6765 could help both the IRS and taxpayers avoid lengthy audits involving faulty claims.

Auditing 183
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11 Tips to Generate More Leads From Your Firm’s Website

Future Firm

If your website isn’t delivering leads, it may need strategic improvements in conversion-focused design, a common issue with actionable solutions. In this episode, I shared proven tips to transform your website from a simple online presence into a powerful lead-generating asset for your firm. Listen Below. 1:25 – During my time running my own firm, our website was the primary source of our sales, thanks to its effective optimization for client acquisition and conversions. 1:52 –

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Vendor Spotlight: HubSync

Accounting Today

In this week's Vendor Spotlight, we catch up with CEO John McGowan of HubSync.

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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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For Dothan, Ala., company, move to the cloud “a no-brainer”

Remote Quality Bookkeeping

When the financial crisis hit the United States in the late 2000s, Alabama was struck particularly hard. In fact, the state had the third-highest prevalence of economic loss during the peak of the crisis, according to an Economic Security Index report produced by The Rockefeller Foundation in 2012. Businesses in all corners of the country struggled to keep their stake in the ground, and this was true in Dothan, Alabama.

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How to convert Word tables to Excel

Nanonets

Dealing with lengthy and complicated tables in Word is a hassle. It's often easier to manage and manipulate data in Excel. So, the question becomes: how can you convert Word tables to Excel quickly and efficiently?  Converting your Word document to Excel isn't as complicated as you might expect. In fact, there are several ways to transfer your data, including copy-pasting or utilizing online tools.

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For Dothan, Ala., company, move to the cloud “a no-brainer”

Remote Quality Bookkeeping

When the financial crisis hit the United States in the late 2000s, Alabama was struck particularly hard. In fact, the state had the third-highest prevalence of economic loss during the peak of the crisis, according to an Economic Security Index report produced by The Rockefeller Foundation in 2012. Businesses in all corners of the country struggled to keep their stake in the ground, and this was true in Dothan, Alabama.

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Balance sheet definition

Accounting Tools

Related Courses The Balance Sheet The Interpretation of Financial Statements What is a Balance Sheet? The balance sheet is a report that summarizes all of an entity's assets , liabilities , and equity as of a given point in time. It is typically used by lenders , investors , and creditors to estimate the liquidity of a business. The balance sheet is one of the documents included in an entity's financial statements.

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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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Member Spotlight: Explore and Evolve with Designations

NACM

The credit industry is nothing short of evolutionary. From automation to change management, credit professionals are in a constant state of learning. NACM's Professional Certification Program is one of the many tools credit professionals can use to expand their knowledge in B2B credit management. Whether that's learning new skills, diving deeper on.

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Automate the month-end cutoff

Accounting Tools

Related Courses Closing the Books The Soft Close The Year-End Close How to Automate the Cutoff An intensely manual process at the end of each reporting period is the cut off of incoming inventory items. Typically, the cut off requires the manual segregation of all inventory items received after the reporting period, so that they are not included in the ending inventory count.

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Data Extraction Types & Techniques: A Complete Guide

Nanonets

Introduction Data extraction is the first and perhaps most important step of the Extract/Transform/Load (ETL) process. Through properly extracted data, organizations can gain valuable insights, make informed decisions, and drive efficiency within all workflows. Data extraction is crucial for almost all organizations since there are multiple different sources generating large amounts of unstructured data.

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Public company close definition

Accounting Tools

Related Courses Closing the Books Public Company Accounting and Finance The Soft Close The Year-End Close How a Public Company Closes the Books A publicly held company is required by the Securities and Exchange Commission (SEC) to file a large report concerning its financial condition at the end of each quarter. These are the Form 10-Q (for quarterly filings) and Form 10-K (for annual filings).

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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.