Fri.Oct 13, 2023

article thumbnail

Accounting salaries rise as talent pipeline shrinks

Accounting Today

With the number of freshly minted accounting graduates dwindling and the consumer price index still rising, the law of supply and demand is driving up salaries.

article thumbnail

It's Fantasy Sports Season at ADC! | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

In this episode, join Kevin, Alicia, and Sarah as they discuss the setup and execution of various fantasy sports leagues throughout the year.

255
255
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

On the move: INCPAS hosts 19th Day of Service

Accounting Today

CLM Advisors moves offices; Brown Schultz Sheridan & Fritz and RKL both named Best Places to work in PA; and more news from across the profession.

281
281
article thumbnail

What Are S3 Lifecycle Rules? When Should You Use Them?

CloudZero

Amazon Simple Storage (S3) has become a cornerstone in the world of cloud computing, offering scalable and secure object storage solutions for a wide range of applications.

article thumbnail

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.

article thumbnail

Demystifying AI in accounting and finance: turning hype into literacy

Accounting Today

It's nearly impossible to exist in the business world without hearing terms like "AI" or "machine learning." Unfamiliarity with the tech can impede trust and ultimately lead to its rejection.

article thumbnail

Community Association Management Industry Trends for 2024 

AvidXchange

Community association managers have many responsibilities. From fielding resident concerns to handling accounting and legal matters to ensuring the maintenance of amenities and much more. These duties are made more difficult when working in an environment with outdated tools and inefficient processes. To better support employees, many community association management companies are turning to digital tools.

AP 105

More Trending

article thumbnail

Steps for Choosing an Accrual Method of Construction Accounting

CSI Accounting & Payroll

If your construction company has a contract that rolls into a new year , you must accrue for the materials, revenue, and labor involved in the contract - even if you use cash basis accounting for your business. This means accounting for these elements to accurately reflect the work performed and expenses incurred, even if the cash transactions occur in different accounting periods.

article thumbnail

How firms can attract and retain talent as CPAs reach retirement age

Accounting Today

What must firms do to adapt to the new landscape and keep as much current talent as possible?

293
293
article thumbnail

Sales tax definition

Accounting Tools

Related Courses Sales and Use Tax Accounting What is Sales Tax? A sales tax is a tax imposed on retail goods and services at the point of sale. The tax is collected by the entity selling the product or service to a third party, and is remitted to the applicable government entity at regular intervals. A business is required to collect sales tax when it has nexus within the taxing region.

Tax 73
article thumbnail

Tech News: Thomson Reuters rolls out ONESOURCE E-Invoicing

Accounting Today

Plus, Corvee adds AI to Instead and Instead Pro solutions; and other news and updates from the accounting technology arena.

Invoicing 288
article thumbnail

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.

article thumbnail

Is the glass half full or half empty?

Accounting Fun

Is the glass half full or half empty? To the optimist, the glass is half full. To the pessimist, the glass is half empty. To many accountants, the glass is twice as big as it needs to be. To the realist, it doesn't matter if the glass is half empty or half full. There is clearly room for more. Anyway, instead of describing the glass they are more interested in drinking whatever it contains.

article thumbnail

Aprio acquires Antares

Accounting Today

The deal will double the size of the firm's restaurant, franchise and hospitality industry team.

164
164
article thumbnail

Silent partner agreement

Accounting Tools

Related Courses Partnership Accounting Partnership Tax Guide What is a Silent Partner Agreement? A silent partner agreement is a written legal agreement under which an investor commits to make an investment in a partnership , in exchange for the rights accorded to a limited partner. A silent partner takes no part in the day-to-day management of a business, is only liable for the amount of his or her investment, and is generally not publicly known to be an investor in the business.

Tax 40
article thumbnail

CPA mobility: Recognizing reality

Accounting Today

The profession needs to proceed cautiously with anything that might impact accountants' ability to practice across state lines.

CPA 136
article thumbnail

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!

article thumbnail

Scope of work definition

Accounting Tools

Related Courses Project Management What is Scope of Work? Scope of work is the activities stated in a contract that are assigned to a supplier for completion. This information forms the basis for the total amount paid to the supplier; thus, if the scope changes, this alters the amount paid. The scope of work may be stated in great detail, including subtasks, milestones to be achieved, and planned completion dates.

40
article thumbnail

My Customer Ghosted Me. Now What?

NACM

?️ On today's episode of the Extra Credit podcast. The term "ghosting" is not just for the dating world.? Picture this during Halloween season. you've extended credit to a customer, and everything seems to be going smoothly. Invoices are sent, but suddenly, it's as if your customer has vanished into thin air. They're not responding to c.

article thumbnail

Scope limitation definition

Accounting Tools

Related Courses How to Conduct an Audit Engagement A scope limitation is a restriction on an audit that is caused by the client, issues beyond the control of the client, or other events that do not allow the auditor to complete all aspects of his or her audit procedures. Examples of events causing a scope limitation are the disappearance of relevant evidentiary matter and the client's restriction on contact with customers to confirm the existence of accounts receivable.

article thumbnail

IRS offers tax relief to taxpayers affected by terror attack in Israel

Accounting Today

The agency is responding to the unfolding crisis in the Middle East.

Tax 305
article thumbnail

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.

article thumbnail

Senior debt definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is Senior Debt? Senior debt is a security that has a high priority for repayment in the event of the liquidation of the issuer. This type of debt is considerably more secure for investors than junior debt , since the remaining funds of the business must be applied to repayment of the senior debt before other obligations of the issuer are dealt with.

article thumbnail

Tax return thief who took Trump data pleads guilty

Accounting Today

A former IRS contractor admitted stealing information about the former president and thousands of wealthy Americans and leaking it to two news organizations.

Tax 280
article thumbnail

Secondary distribution definition

Accounting Tools

Related Courses Corporate Finance Public Company Accounting and Finance A secondary distribution is the sale of a large number of shares by one or more large investors. The sale is handled by a securities firm and so is not conducted through a stock exchange. The proceeds of the sale go to the investors holding the stock, not the issuing entity. The price at which the shares are offered is usually close to the market price of the shares.

article thumbnail

Subscribed stock definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is Subscribed Stock? Subscribed stock is an equity instrument that has been purchased under the terms of a periodic payment plan. This approach is most commonly used for employee stock purchase plans, where a deduction is taken from an employee's paycheck and placed in a stock purchase fund.

article thumbnail

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.

article thumbnail

Shareholders' equity definition

Accounting Tools

Related Courses How to Audit Equity The Balance Sheet The Interpretation of Financial Statements What is Shareholders’ Equity? Shareholders' equity is the net amount of an organization's assets and liabilities. If all of a company's assets were to be liquidated and its liabilities settled at their book values , the remainder (which is shareholders' equity) would be paid out to shareholders.

article thumbnail

Sales definition

Accounting Tools

Related Courses The Income Statement The Interpretation of Financial Statements What are Sales? Sales refers to the volume of goods and services sold by a business during a reporting period. When quantified into a monetary amount, it is positioned at the top of the income statement , after which operating and other expenses are subtracted to arrive at a profit or loss figure.

article thumbnail

Setup time definition

Accounting Tools

Related Courses Operations Management What is Setup Time? Setup time is the interval needed to adjust the settings on a machine, so that it is ready to process a job. Shortening the amount of setup time is critical for engaging in short production runs, so that a business can more easily engage in just-in-time production. When this is done, a business can profitably run smaller batches of products, since there is a reduced setup cost associated with each incremental unit.

40
article thumbnail

Secured creditor definition

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law What is a Secured Creditor? A secured creditor is a lender that has placed a lien on certain assets of a borrower. A lien allows the creditor to seize those assets designated as being the collateral of the borrower. When a lien has been recorded against an asset, the creditor can move quickly to acquire the asset in the event of a payment default by the borrower.

article thumbnail

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!

article thumbnail

Statements of Financial Accounting Concepts definition

Accounting Tools

Related Courses GAAP Guidebook International Accounting What are the Statements of Financial Accounting Concepts? Concepts statements set the objectives and qualitative characteristics used to to determine which business transactions and events shall be recognized and measured in financial reports. These statements are used by the Financial Accounting Standards Board (FASB) in the development of accounting principles.

article thumbnail

Stock rights definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What are Stock Rights? Stock rights give their owner the right, but not the obligation, to buy the shares of a company at a specific exercise price for a designated period of time. The term primarily applies to giving current shareholders the right to buy additional shares as part of the issuer's next stock sale.

article thumbnail

Working capital ratio

Accounting Tools

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements Working Capital Management What is the Working Capital Ratio? The working capital ratio is a measure of liquidity , revealing whether a business can pay its obligations. The ratio is the relative proportion of an entity's current assets to its current liabilities , and shows the ability of a business to pay for its current liabilities with its current assets.

article thumbnail

Salaries expense definition

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management Salaries expense is the fixed pay earned by employees. The expense represents the cost of non-hourly labor for a business. It is frequently subdivided into a salaries expense account for individual departments, such as: Salaries expense - accounting department Salaries expense - engineering department Salaries expense - human resources department Salaries expense - marketing department Salaries expense - quali

Payroll 40
article thumbnail

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.