Fri.Feb 23, 2024

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Accounting standards blamed for lack of accountants

Accounting Today

It's not just the 150-hour rule for obtaining a CPA license that may be the culprit for the talent shortage, according to an academic study.

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Transforming Stressful Times into Strategic Success | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 13 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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International tax changes bring uncertainty to global companies

Accounting Today

The changes underway in setting global taxes are leading to confusion for many countries that authorities are trying to alleviate.

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Why Accountants Quit Public Accounting Firms

Cloud Accounting Podcast

Blake and David meet with Geoffrey Brown of the Illinois CPA Society to examine some key findings from ICPAS's recent retention report, including top reasons for turnover, where departing accountants are going, and ideas for improving work-life balance. Meet Our Guest, Geoffrey Brown LinkedIn: [link] Twitter: [link] Facebook: [link] Instagram: [link] Learn more about the Illinois CPA Society (ICPAS) Website: [link] Listener Survey Please take our listener survey: [link] Need CPE?

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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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Tech news: QuickBooks launches Solopreneur for sole proprietors

Accounting Today

Plus, Sovos debuts Compliance Cloud, for tax compliance and regulatory reporting; and other accounting tech news.

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Onerous contract definition

Accounting Tools

What is an Onerous Contract? An onerous contract is a contract in which the aggregate cost required to fulfill the agreement is higher than the economic benefit to be obtained from it. Such a contract can represent a major financial burden for an organization. These contracts may be considered onerous as soon as they come into existence, but it is more common for them to be considered onerous due to a change in circumstances that either increases their costs or reduces their benefits.

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Amazon ECS: Pricing & 5 Cost Optimization Strategies

Economize

Today, agility, scalability, and flexibility are vital contributors to running a successful business. Containerization is a software development process that helps to incorporate these values into software applications. It offers flexibility and consistency while deploying your application across diverse environments.

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SEC cyber rules will have wide impact amid uncertainty

Accounting Today

The SEC's new cybersecurity disclosure rules will affect plenty of businesses, but a survey finds many cyber professionals lack confidence they can comply in time.

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15 Important Signs That You Need a New Bookkeeper

Remote Quality Bookkeeping

A robust business requires healthy finances. To have an accurate idea of how your business is doing and how to move forward, you need the correct data—the kind of data a good bookkeeper can provide. Your bookkeeper takes care of income and expenses and categorizes them properly. They also prepare your books before tax season so all accounts are handed to the accountant who will file them.

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Making mentoring work

Accounting Today

Okorie Ramsey, the chair of the AICPA and vice president of SOX at Kaiser Permanente, dives into how accounting firms can make the most of this important recruiting and career development tool, and the benefits it offers for both mentee and mentor.

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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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Payroll Outsourcing vs Payroll Software in Singapore: Making the Right Choice for Your Business

Counto

Payroll Outsourcing vs Payroll Software in Singapore: Making the Right Choice for Your Business What is Payroll Software Payroll software streamlines and automates tasks like wage calculation, tax handling, and government submissions. Additional features may include leave management and shift scheduling, enhancing organisational effectiveness. What is Payroll Outsourced?

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Don't succumb to the forgetting curve this tax season

Accounting Today

What if you viewed busy season as an opportunity to make continuous improvement?

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Your Full Guide: Accounting Software for Midsize Businesses

Plooto

What is accounting software for midsize businesses? Accounting software is a computer program that maintains accounting books to assist bookkeepers. Capabilities of an accounting software can include recording transactions, expense tracking , reporting, reconciling, and real-time insights.

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On the move: Brady Martz CEO to retire

Accounting Today

Grimbleby Coleman launches new wealth management division; HHM CPAs hires three senior managers; and more news from around the profession.

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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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The Accounts Payable Process: Everything You Need to Know

Plooto

Accounts payable represents the money you owe. Managing your AP becomes a process of receiving and recording invoices all while preparing and ensuring payment.

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Justifying why NOT to file tax returns

Accounting Fun

The following are a summary of some of the points argued by a Mr Bell in letters to HMRC and the lower tier Tax Tribunal as to why he considered that he was not required to file tax returns: As all humans are created equal, government and the making of legislation requires the consent of the governed All humans have an absolute right to own property which is gained as a result of their own efforts.

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Accounts Payable Automation: 19 Best Practices

Plooto

When it comes to accounting, accounts payable(AP) automation emerges as a vital tool for enhancing accuracy and efficiency.

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The difference between interest expense and interest payable

Accounting Tools

What is Interest Expense? Interest expense is the cost of borrowed funds. It is reported on the income statement as a non-operating expense , and is derived from such lending arrangements as lines of credit, loans, and bonds. The amount of interest incurred is typically expressed as a percentage of the outstanding amount of principal. What is Interest Payable?

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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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The Evolution of Technology in Credit

NACM

?️ On today's episode of NACM's Extra Credit podcast. The evolution of technology, from computers to artificial intelligence, has transformed the credit management profession. ⭐ Hear from Leon Zhang; Eleanor Hartman; and Lee Tompkins!

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Sales variance definition

Accounting Tools

What is a Sales Variance? A sales variance is the monetary difference between actual and budgeted sales. It is used to analyze changes in sales levels over time. A favorable sales variance arises when the actual sales generated are higher than expected, while a negative variance occurs when actual sales are lower than expectations. Reasons for a Sales Variance There are two general reasons why a sales variance can occur, which are: The price point at which goods or services sell is different fro

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The Importance of Audit Trail Importance and How Digital Document Storage Can Help

NextProcess

Accurate records are more than a good idea for companies: they’re essential. Missing documents create breaks in audit trails, which can lead to significant issues for your company. Best-case scenario, it’s a hassle for employees. Worst-case scenario, missing documents found by an external audit can lead to fines, legal action, and loss of reputation.

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Intellectual property valuation

Accounting Tools

How to Value Intellectual Property The valuation of intellectual property involves assigning a dollar value to the non-tangible assets of an entity. This valuation is a major issue in the mergers and acquisitions field, since a potential acquiree typically claims to have accumulated a significant amount of intellectual property, and wants to be paid for it.

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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.