Accounting Department
MAY 12, 2023
Our AccountingDepartment.com family is proud of its vibrant and diverse “cast of characters”—we span the country with our team members coming from all backgrounds and personalities. Included among our team are some amazing Military Spouses whose hard work, dedication, and contributions are part of what makes our family so strong—and theirs as well.
Enterprise Recovery
MAY 12, 2023
Debt collections may not be the most enjoyable part of back office operations, but it's absolutely necessary. Unfortunately, some of your business clients will miss a payment or more due to various reasons. If you've signed an agreement and fulfilled your part, they still owe you. What happens when business debt goes to collections?
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Accounting Tools
MAY 12, 2023
Related Courses Bookkeeping Guidebook GAAP Guidebook Property Management Accounting Overview of Prepaid Rent Accounting Prepaid rent is rent paid prior to the rental period to which it relates. Rent is commonly paid in advance, being due on the first day of that month covered by the rent payment. The landlord typically sends an invoice several weeks early, so the tenant issues a check payment at the end of the preceding month in order to mail it to the landlord and have it arrive by the due date
CSI Accounting & Payroll
MAY 12, 2023
Payroll reporting is an important aspect of accounting. If you have historical payroll data to move into your bookkeeping software - or you’re just curious about the steps a monthly accountant will take to do so - you’ve come to the right place. CSI Accounting & Payroll has been working with small businesses on accounting since the 1960s and payroll since the 2000s.
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.
NextProcess
MAY 12, 2023
While economists debate the definition of “recession” and go back and forth on whether the U.S. economy is in recession, there’s no denying that rising inflation is taking its toll on individuals and businesses alike. At the end of April, Forbes warned that slowing economic growth has economists worried about what the rest of 2023 might look like. It’s challenging to project what will happen next for the economy as a whole or for specific markets.
Dext
MAY 12, 2023
The last-minute rush – it’s a strange trait so many of us live by. There’s no straightforward explanation, other than the theory that some work better when the odds are stacked against them. Or maybe, just maybe, we like to put things off for as long as possible.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
CloudZero
MAY 12, 2023
We recently explored what the cloud is and how it has evolved over 60 years. Yet, cloud computing emerged into what it is today in 2002, when Amazon, the e-commerce giant, sought a more efficient way to expand its online marketplace. So, it is not surprising that the company's cloud services subsidiary (AWS), which launched in 2006, is the largest Cloud Service Provider (CSP) today.
Economize
MAY 12, 2023
Embarking on a FinOps journey requires a strategic, phased approach. Discover how you can secure buy-in from stakeholders, establish a FinOps culture, prepare your organization for adoption, and continuously monitor and optimize your FinOps maturity.
Tipalti
MAY 12, 2023
Use our Sales Tax Calculator to quickly and accurately calculate sales tax for your business. Save time and ensure compliance with Tipalti's easy-to-use tool.
Accounting Tools
MAY 12, 2023
Related Courses The Interpretation of Financial Statements What are Unappropriated Retained Earnings? Unappropriated retained earnings are those retained profits of a business that have not been set aside for a specific purpose. These funds may be directed wherever they are needed, such as for funding the purchase of fixed assets , funding increases in working capital , or making dividend distributions to shareholders.
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.
Tipalti
MAY 12, 2023
Use our Paypal Fee Calculator to quickly and accurately calculate your Paypal fees for any transaction. Save time and avoid errors with Tipalti's calculator.
Accounting Fun
MAY 12, 2023
Sarah Saunders is clearly a fan of Macbeth. She was credited by Taxation magazine with finding (or imagining) a new parchment used by Shakespeare as a source for his play, Macbeth. It's a witty piece that could be said to examine the play through the lens of modern day taxation. The document itself appears to have been written by Hamish McTax, Royal Counsellor, Tax Adviser to Royalty.
Tipalti
MAY 12, 2023
Use our Payroll Tax Calculator to easily calculate payroll taxes for your business. Save time and ensure accuracy with Tipalti's advanced calculator.
Accounting Tools
MAY 12, 2023
What is an Unrealized Gain? An unrealized gain is an increase in the value of an asset that has not been sold. It is, in essence, a " paper profit." When an asset is sold, it becomes a realized gain. The presence of an unrealized gain may reflect a decision to hold an asset in expectation of further gains, rather than converting it to cash now. The holding decision may also involve an expectation that a longer holding period will result in a lower tax rate, as is the case with the longer holding
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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!
NACM
MAY 12, 2023
? On today's episode of the Extra Credit podcast. hear from Penny Jeter, CBF; Darrell Horton; and JoAnn Malz as they discuss the importance of clean data in the credit industry.
Accounting Tools
MAY 12, 2023
Related Courses GAAP Guidebook Overview of the Accounting for a Troubled Debt Restructuring A troubled debt restructuring is considered to have occurred when a lender grants concessions that it would not normally consider, due to the financial difficulties of the debtor. A troubled debt restructuring is generally not considered to have occurred if the debtor can obtain funds from other sources than its existing lender.
The Successful Bookkeeper
MAY 12, 2023
Manual work. Being a great bookkeeper isn’t solely about being focused on numbers, data, and details. While these are all crucial, you’ll also likely need to become knowledgeable about the industries you serve. This could be a single industry where you might be an expert or a handful where you’ll have a decent understanding of each of them. One industry that is surprisingly underserved by bookkeepers is manufacturing.
Accounting Tools
MAY 12, 2023
Related Courses Accountants' Guidebook GAAP Guidebook Overview of Warranty Accounting A business may have a warranty policy, under which it promises customers to repair or replace certain types of damage to its products within a certain number of days following the sale date. If the company can reasonably estimate the amount of warranty claims likely to arise under the policy, it should accrue an expense that reflects the cost of these anticipated claims.
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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.
Accounting Tools
MAY 12, 2023
Related Courses Corporate Cash Management Treasurer's Guidebook The Need for a Treasury Workstation A large part of the treasury department's time is taken up by a specific set of high-volume transactions. These transactions involve determining the daily cash position, adjusting the investment portfolio, altering the company's debt position, and taking action to mitigate the company's risk positions.
Accounting Tools
MAY 12, 2023
Related Courses Accounting for Investments The accounting for securities depends on the classification of each security. We note in the following sections the separate accounting used for available-for-sale, held to maturity, and trading securities. Available for Sale Securities Accounting If a business has invested in debt securities or equity securities that are classified as available-for-sale securities , and if the equity securities have fair values that can be readily determined, the compa
Accounting Tools
MAY 12, 2023
Related Courses Working Capital Management A business needs a working capital policy to define its level of investment in receivables and inventory. This is needed in order to keep its cash requirements firmly in check. Lack of attention to the investment in working capital (which is receivables, inventory, and payables ) can result in a runaway need for cash, especially when sales are growing.
Accounting Tools
MAY 12, 2023
Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is Accounts Receivable Securitization? A larger organization can convert its accounts receivable into cash at once by securitizing the receivables. This means that individual receivables are aggregated into a new security , which is then sold as an investment instrument.
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.
Accounting Tools
MAY 12, 2023
Related Courses Closing the Books The Soft Close The Year-End Close There is constant pressure on the accounting staff to release financial statements in a timely manner, which is called a fast close. The ability of the department to conduct a fast close can be tracked with a variety of fast close metrics. The most obvious metric is to track the number of hours from the end of the reporting period to the date and time when the financial statements are released.
Accounting Tools
MAY 12, 2023
Related Courses Financial Analysis Overview of Incremental Cash Flow Incremental cash flow analysis is used to review a change in the cash inflows and outflows that are specifically attributed to a management decision. As an example, if a business is considering altering the amount of production capacity of a machine, the decision should be made based on the incremental cash outflows required to alter the capacity of the equipment, as well as the incremental cash inflows resulting from that deci
Accounting Tools
MAY 12, 2023
Related Courses Budgeting Capital Budgeting The Guessing Game of Attrition Budgeting A significant issue in businesses with large numbers of employees is estimating the proportion of them that will leave the company during a budget period. This is an important issue, since the company's actual compensation expense during the budget period will be reduced if these employees are not replaced promptly.
Accounting Tools
MAY 12, 2023
Related Courses Accounting for Intangible Assets Fixed Asset Accounting How to Audit Fixed Assets An intangible asset is a non-physical asset that will be consumed over more than one accounting period. The accounting for an intangible asset is to record the asset as a long-term asset and amortize the asset over its useful life , along with regular impairment reviews.
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!
Accounting Tools
MAY 12, 2023
Related Courses Activity-Based Management Lean Accounting Guidebook Project Management What is Process Centering? Process centering involves aggregating as many consecutive work steps as possible around a single person. Doing so can massively streamline processes by eliminating non-value-added activities. One of the key organizational flaws in many organizations is the inordinate amount of time required to complete any process.
Accounting Tools
MAY 12, 2023
Related Courses Constraint Management Financial Analysis Financial Forecasting and Modeling What is Profit Velocity? Profit velocity is the profit generated per minute of production time for a product. The concept is used to decide which of several alternative products to manufacture. When the sales department wants to know which products to push the hardest, the accounting manager prints a contribution margin report, and recommends whatever has the highest margin.
Accounting Tools
MAY 12, 2023
Related Courses Corporate Finance Treasurer's Guidebook What is an Unpaid Principal Balance? Unpaid principal balance is that portion of a loan that has not yet been paid back to the lender by the borrower. This balance represents the remaining risk of nonpayment being incurred by the lender. A typical loan payment is comprised of both an interest charge and the return of some principal , so the unpaid principal balance cannot be calculated simply by subtracting all loan payments to date from th
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