Mon.Aug 07, 2023

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AICPA, NASBA team with Tulane to ease CPA licensing

Accounting Today

The American Institute of CPAs and the National Association of State Boards of Accountancy are pilot testing a program to make it easier for accounting students to earn 150 credit hours.

CPA 246
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Introducing our 2023 Xerocon Sydney event partners

Xero

Xerocon Sydney is just weeks away on 23 and 24 August, and the ICC exhibitor floor will be full to the brim with some of the best and most loved apps, tools and services for accountants, bookkeepers and small businesses. This year, you can expect to see 80+ exhibitors at the event, including more than 70 leading Xero App Store app partners. Whether you’re looking for tools to chase invoice payments, simplify tax compliance, or make job management easier, you’ll find plenty of solutions to help s

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Is ChatGPT lying to you?

Accounting Today

Given artificial intelligence's ability to "hallucinate," accounting firms need to place rules around how staff use these tools.

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Pursuing my professional and personal ambitions at Intuit

Intuit

I took the road less traveled Graduating high school at seventeen. Joining the Army Reserves. Earning six college degrees. Studying Greek, Hebrew, and Latin in seminary. I’ve been blessed with a bundle of energy and many interests. Even with all of those experiences, I’ve found my position at Intuit as a Multi-Domain Expert (MDE)—supporting TurboTax and QuickBooks—incredibly satisfying.

CPA 130
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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 mulls special pay incentives to boost staff

Accounting Today

The service may revive the extra payments it provided to employees in 2020 to coax them back to the office, according to a new report.

Tax 225
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Semi-retired and (still) thriving as a tax expert at Intuit

Intuit

Libby Wages, a tax expert with an enrolled agent credential from Atlanta, Georgia, joined Intuit while in semi-retirement. She’s thrilled that Intuit has empowered her to use technology with confidence while she helps consumers and small businesses run their financial lives. Intuit makes it easy to learn the latest technology Like you, I’m confident in my tax and accounting abilities.

Tax 130

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The Complete Guide to AI Image Processing

Nanonets

In a world increasingly dominated by digital imagery, the convergence of artificial intelligence and computer vision has ushered in a new era of innovation. Join us as we dive headfirst into the captivating realm of AI image processing. Buckle up, for the pixels are about to come to life, and the machines are poised to reveal the unseen. What is AI Image Processing?

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Art of Accounting: Providing advice to a non-client

Accounting Today

Acquaintances who want quick, off-the-cuff advice from an accountant about important financial decisions are doing themselves a disservice.

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IA Video Resources on YouTube

Insightful Accountant

Insightful Accountant's YouTube page is your first stop for all videos, including webinar archives and podcasts. Check it out and subscribe today!

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Transforming international tax rules

Accounting Today

Marna Ricker, global vice chair of tax at EY, discusses the latest developments on the global minimum tax and digital service taxes, and how they will affect the U.S.

Tax 130
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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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Cash and cash equivalents definition

Accounting Tools

Related Courses Optimal Accounting for Cash How to Audit Cash The Balance Sheet What are Cash and Cash Equivalents? Cash and cash equivalents is a line item on the balance sheet , stating the amount of all cash or other assets that are readily convertible into cash. Any items falling within this definition are classified within the current assets category in the balance sheet.

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Ivix receives $12.5M to help combat tax evasion with AI

Accounting Today

An Israeli startup that's advised by former IRS officials is using artificial intelligence to fight financial crimes.

Tax 130
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Subsequent events definition

Accounting Tools

Related Courses Accountants' Guidebook GAAP Guidebook What is a Subsequent Event? A subsequent event is an event that occurs after a reporting period, but before the financial statements for that period have been issued or are available to be issued. Depending on the situation, such events may or may not require disclosure in an organization's financial statements.

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TIGTA faults IRS cybersecurity program on 3 out of 5 metrics

Accounting Today

The IRS cybersecurity program has some key weaknesses, according to a recent inspector general report.

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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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Cost of equity formula

Accounting Tools

Related Courses Capital Budgeting Financial Analysis What is the Formula for the Cost of Equity? The cost of equity is the return that an investor expects to receive from an investment in a business. This cost represents the amount the market expects as compensation in exchange for owning the stock of the business, with all the associated ownership risks.

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Top 100 2024 Certification Clues: QBO-Advanced

Insightful Accountant

In Part 7 of Murph's Clues about the Top 2024 Process, he examines the 2023 stats related to QuickBooks Online Advanced Certification.

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Common Ways To Allocate Cloud Spend (+ The Pros And Cons)

CloudZero

All the major cloud providers allow users to attach business context to their infrastructure in some way. It’s this context that allows users to divide up their cloud bill into more easily digestible bites and keep track of cost trends for different resource types.

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Ben Richmond on the Journey to Becoming a True Advisor

Insightful Accountant

Insightful Accountant's Gary DeHart and Xero US' Ben Richmond discuss what it takes to become a true advisor for your clients, and much more. Check out this edition of Accounting Insiders.

XERO 52
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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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Boost Efficiency with AI: Learn How to Use AI as a Virtual Assistant

Blake Oliver

Join me on Tuesday, August 15, at 3:30 p.m. Eastern. I'll talk with Jason Staats about how accountants and bookkeepers can use AI as a virtual assistant to work smarter and boost efficiency. You’ll learn about: Real-world examples of using AI for data entry, data categorization, and identifying financial discrepancies Security considerations when leveraging AI to handle sensitive data How AI can assist with budgeting, forecasting, tax prep, and ensuring compliance Expense tracking and identifyin

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Late Payments and Small Business Borrowing

Insightful Accountant

Xero Economist Louise Southall dives into what the latest Xero Small Business Insights report means to you.

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1099 vendor definition

Accounting Tools

Related Courses Form 1099 Compliance Optimal Accounting for Payables Payables Management What is a 1099 Vendor? A 1099 vendor is a designation listed in each of the records in the vendor master file that is part of an accounting software package. If you designate a supplier as a 1099 vendor, the system will print a Form 1099 for the supplier as part of the 1099 batch processing that follows the end of the calendar year.

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Tracking Employee Time and Expenses Made Right

Insightful Accountant

Hour Timesheet and Clockwise co-founder Debbie Sabin discusses the Top 3 things civil engineer firms look for when selecting a timesheet software vendor.

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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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Safe harbor rule definition

Accounting Tools

Related Courses Investor Relations Guidebook What is the Safe Harbor Rule? The safe harbor rule is a legal provision that allows a person or business to minimize its liabilities in certain defined situations, as long as the entity adheres to specific guidelines. The concept applies to numerous situations, including taxation issues, the issuance of forecasts by a public company , and the use of retirement accounts by employers.

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U.S. considers phased hydrogen tax-credit plan

Accounting Today

The administration could phase in some requirements in a bid to nurture a nascent industry critical to decarbonizing industrial operations.

Tax 245
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Financial distress definition

Accounting Tools

Related Courses Bankruptcy Tax Guide Effective Corporate Turnarounds Essentials of Corporate Bankruptcy What is Financial Distress? Financial distress occurs when an organization is unable to pay its creditors and lenders. This condition is more likely when a business is highly leveraged , its per-unit profit level is low, its breakeven point is high, or its sales are sensitive to economic declines.

Tax 40
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Scorched-earth defense definition

Accounting Tools

Related Courses Divestitures and Spin-Offs Mergers and Acquisitions What is the Scorched-Earth Defense? The scorched-earth defense is employed by a takeover target to reduce its attractiveness to a hostile bidder. One approach is to sell off its most valuable assets in order to reduce its value. The firm may also take on a substantial amount of debt, or add a clause to its debt repayment schedules, mandating that the debt be paid in full immediately after a hostile takeover.

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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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Internal users of accounting information

Accounting Tools

Related Courses Bookkeeping Guidebook CFO Guidebook New Controller Guidebook There are several groups of people within a business that use its accounting information, each having different needs and objectives. These groups of users are noted below. Management The core internal users are the managers. They need detailed performance information about each segment of the business, so that they can make ongoing corrections and enhancements to the organization.

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Registration statement definition

Accounting Tools

Related Courses Public Company Accounting and Finance What is a Registration Statement? A registration statement is a disclosure statement that a business files with the Securities and Exchange Commission (SEC) when it wants to sell equity securities to the public. This extensive document summarizes the financial position of the business, its business model, how it expects to use the proceeds from the sale, related party transactions , and other topics of interest to investors.

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Social impact statement definition

Accounting Tools

Related Courses Environmental Accounting Investor Relations Guidebook Public Company Accounting and Finance What is a Social Impact Statement? A social impact statement is a written explanation by an organization of how its activities impact the communities within which it operates. The statement is focused on the social and environmental impact of the firm.

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How to calculate beta

Accounting Tools

Related Courses Corporate Finance Financial Analysis Investing Guidebook What is Beta? The beta of a stock is a measure of its price volatility in comparison to the volatility of the market. If beta equals 1, then its variability is exactly the same as that of the market as a whole. If the beta is higher than 1, then the price of a stock is more volatile than the market level.

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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.