Tue.Jan 02, 2024

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Electric car models eligible for $7,500 tax credit cut to 13

Accounting Today

Narrower criteria reduced the number of qualifying models from about two dozen. The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers.

Tax 315
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BatchMaster for QuickBooks - Part 3

Insightful Accountant

Murph returns with 'Part 3' of his series on BatchMaster, an application to formulate, produce, ensure quality control and manage batch production/manufacturing that works with QuickBooks.

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Some audit disclosures may prompt companies to manipulate earnings

Accounting Today

Auditor disclosures of client-specific quantitative materiality thresholds, which are required in the U.K. but not the U.S., could be encouraging some businesses to massage their earnings reports.

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Meet 2023 Top 25 Up-N-Coming ProAdvisor: Chris Macksey

Insightful Accountant

We sat down with Tailor to get his thoughts on being a Top 25 Up-N-Coming ProAdvisor, his journey, path to success, and constant evolution to give their clients the best value.

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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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Terrorist attacks and mass shootings can affect company accounting

Accounting Today

A study finds the negative effects of such events can lead to pessimistic risk assessments of financial reporting choices and a decline in accrual-based and real earnings management for companies in the impacted areas.

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Prepare for 2024 with What We Learned in 2023

Tipalti

2024 is here. Let's look back at the most significant financial events that helped shape 2023 and be better prepared for the year ahead.

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Accounting reports definition

Accounting Tools

What are Accounting Reports? Accounting reports are compilations of financial information that are derived from the accounting records of a business. These can be brief, custom-made reports that are intended for specific purposes, such as a detailed analysis of sales by region, or the profitability of a specific product line. More commonly, accounting reports are considered to be equivalent to the financial statements.

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FinCEN begins accepting beneficial ownership reports

Accounting Today

A new online registry opened Monday where companies need to disclose who truly owns or controls them.

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The Definitive Guide to Permits and Licensing in Singapore: 2024

Counto

The Definitive Guide to Permits and Licensing in Singapore: 2024 Singapore’s thriving business ecosystem attracts entrepreneurs from around the world. But to operate legally and compliantly, businesses must navigate the intricate landscape of permits and licenses. In this comprehensive guide, we delve into the world of permits and licensing in Singapore, offering richer information and insights than ever before.

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U.S.-Hungary tax treaty no longer in effect

Accounting Today

The double taxation treaty between the U.S. and Hungary has been terminated as of Monday.

Tax 290
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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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Don't Let Work Get in the Way of Your Fitness Goals This Year

Blake Oliver

If you made a New Year's resolution to get in shape, I just want to encourage you to keep going and not give up. And don't let work get in the way. It's worth it. You will feel so much better physically and mentally. And you'll be more productive, even if you work fewer hours. Here's my story: Six months ago, I started swimming with a goal to swim 500 meters daily, about 20 laps.

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Stephano Slack merges in Morgenstern Waxman Ellershaw

Accounting Today

Stephano Slack, a firm based in Wayne, Pennsylvania, added Morgenstern Waxman Ellershaw LLC, headquartered in Marlton, New Jersey, effective Jan. 1, 2024.

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Calculating Days Sales Outstanding (DSO): A Complete Guide

Invoicera

Introduction Understanding your company’s financial health is like reading a map to success. Imagine this: Every sale you make is a step forward, but how quickly you get paid on those sales is crucial in seeing your business journey progress. Now enter the Days Sales Outstanding (DSO) – The compass guiding your company’s financial direction. “The most important thing to do if you find yourself in a hole is to stop digging.” – Warren Buffett Thus, DSO tells y

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What accountants need to know about R&D expensing changes

Accounting Today

What do these changes mean for taxpayers and how can accountants help manage the impact?

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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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6 Cash Flow Performance KPIs Every CFO Needs to Track

Gaviti

As a CFO, you have a tremendous responsibility for the financial health of your organization, so it’s essential that you have the tools to continually measure and evaluate your company’s profit, revenue and make critical decisions related to the company’s growth. What is a Cash Flow Metric? Cash flow metrics are the standards by which CFOs measure cash flow health and accounts receivable performance.

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Zoho Inventory @ QuickBooks Connect 2023

Insightful Accountant

Experience a unique and powerful software suite that transforms the way you work. Designed for businesses of all sizes, it is crafted by a company that values your privacy.

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Financial risk definition

Accounting Tools

What is Financial Risk? Financial risk is the potential losses incurred by an investor when investing in a business that uses borrowed money. When a firm uses a large amount of debt , it incurs a significant interest expense and obligation to repay principal that makes it more likely to have financial difficulties if its cash flows decline. Or, if the entity is a government, it cannot raise sufficient cash from taxes to pay for its bond obligations.

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5 Compelling Reasons to Switch from Manual to Automated Invoicing Systems

Invoicera

Introduction Have you ever been overwhelmed by stacks of paperwork, especially when sorting through invoices? We have a simpler way to handle all that. Picture this: reducing your time on invoicing, eliminating manual/human errors, and getting your payments quicker. Doesn’t it sound like a game-changer? Statistics show businesses waste an average of 21 hours every week on manual invoicing processes.

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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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Black box accounting definition

Accounting Tools

What is Black Box Accounting? Black box accounting is the deliberate use of excessively complex accounting transactions to hide the financial condition of a business. This is most commonly the case when managers want to hide the true extent of the liabilities of an organization, or that it has taken on an unusually large amount of risk that could lead to the incurrence of yet more liabilities.

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Top Three Payment Trends For Accountants In 2024

Invoicera

Introduction Keeping up with payment changes is super important! In 2024, the way accountants handle transactions will change a lot. What’s causing these changes? And how will they affect what accountants do every day? Experts say 2024 will see big changes in how payments work. According to a top financial analyst – ‘Digital banking is changing how we pay’.

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Fiduciary accounting

Accounting Tools

What is Fiduciary Accounting? Fiduciary accounting involves recording the transactions associated with a trust or estate entity, and issuing periodic reports on the status of the entity. This accounting is dealt with on a cash basis , where cash is recorded when received and disbursements and distributions are recorded when paid. A large part of the trustee’s accounting work involves determining whether receipts and disbursements should be assigned to income or principal.

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Mastering SSIC Codes: Your Comprehensive Guide to Business Classification in Singapore

Counto

Mastering SSIC Codes: Your Comprehensive Guide to Business Classification in Singapore When establishing a business in Singapore, there are numerous regulatory matters to consider. One crucial element is the selection of the Singapore Standard Industrial Classification (SSIC) code, a system used to categorise business activities in Singapore. This guide aims to provide a thorough understanding of SSIC codes, their significance, and tips on choosing the most appropriate code for your company.

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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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Zero balance account definition

Accounting Tools

What is a Zero Balance Account? A zero balance account (ZBA) is part of a cash pooling system. It is usually in the form of a checking account that is automatically funded from a central account in an amount sufficient to cover presented checks. To do so, the bank calculates the amount of all checks presented against a ZBA, and pays them with a debit to the central account.

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A Comprehensive Guide to Registering Your Company in Singapore in 2024

Counto

A Quick Guide to Registering Your Company in Singapore in 2024 Singapore continues to be a thriving hub for businesses globally, and with good reason. Its strategic location, robust legal framework, and business-friendly policies make it an ideal destination for entrepreneurs. If you’re considering starting your own company in the Lion City, this 2024 guide provides a comprehensive roadmap that surpasses the information provided in existing resources.