Thu.Nov 02, 2023

article thumbnail

IRS criminal investigators team up with other countries to tackle cybercrime

Accounting Today

Officials from the IRS's Criminal Investigation division met with tax officials from four other countries to uncover tax evasion and money laundering schemes through data mining.

Tax 310
article thumbnail

Global Engineering Days 2023 – a week on the road to beautiful code

Intuit

GED is a weeklong code-a-thon that brings together Intuit technologists from all over the world to innovate and collaborate on projects they’re passionate about. This fall’s GED had a number of “firsts”: #1: Intuit’s Chief Technology Officer, Alex Balazs kicked off the week in Bangalore, India. Over 1,000 technologists from our India office came together in person to watch the GED kickoff, hosted by Alex.

286
286
professionals

Sign Up for our Newsletter

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

article thumbnail

Key considerations for internal auditors in post-transformation integrations

Accounting Today

These audits are essential to ensure that integration processes are executed correctly, risks are identified and mitigated, and controls are in place to safeguard the organization's assets and financial reporting.

article thumbnail

The Ins and Outs of DCAA Accounting for Government Contractors

Accounting Department

When it comes to compliance with government regulations, navigating the intricacies and nuances of DCAA accounting is essential for any government contractor. DCAA stands for Defense Contract Audit Agency, a branch of the Department of Defense that is tasked with auditing and evaluating proposal and contract costs for the government.

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

Uber, Lyft agree to $328M in back pay for NY drivers

Accounting Today

Attorney General Letitia James says Uber from 2014 to 2017 improperly deducted sales tax and other fees from driver paychecks that should have been paid by passengers.

Tax 294
article thumbnail

Thomson Reuters Unveils Generative AI Strategy Designed to Transform the Future of Professionals

Insightful Accountant

Thomson Reuters, a global content and technology company, today announced updates on its multi-year global investment strategy in generative artificial intelligence. These include integrating generative AI skills through product, Westlaw Precision.

102
102

More Trending

article thumbnail

How to Effectively Audit Accounts Payable

MineralTree

Accounts payable is a foundational function that ensures organizations maintain accurate invoices, payments, and vendor relationships, while making bill payments on time. However, amidst today’s rapid and intricate business transactions, particularly in high volumes, managing accounts payable processes can pose significant challenges. Without proper oversight and regular checks, accounts payable can turn into a source of financial complexity and risk.

article thumbnail

Grassi announces ESOP

Accounting Today

The New York-based Top 100 Firm is also adopting an alternative practice structure.

288
288
article thumbnail

TGI Fridays' Global Expansion Sizzles with NetSuite

Insightful Accountant

NetSuite helps TGI Friday’s global chain automate financial processes, improve decision-making, and expand revenue streams.

88
article thumbnail

Majority of organizations now use AI in financial reporting

Accounting Today

A recent poll of finance leaders has found that the majority of organizations now use AI in at least some of their financial reporting process.

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

The causes of depreciation

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What are the Causes of Depreciation? Depreciation is a ratable reduction in the carrying amount of a fixed asset. Depreciation is intended to roughly reflect the actual consumption of the underlying asset, so that the carrying amount of the asset has been reduced to its salvage value by the time its useful life is over.

article thumbnail

Citrin Cooperman acquires Gettry Marcus

Accounting Today

The Top 30 Firm is expanding its presence in the New York area, the latest in a series of deals after receiving private equity funding.

183
183
article thumbnail

Backflush accounting definition

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory What is Backflush Accounting? Backflush accounting is when you wait until the manufacture of a product has been completed, and then record all of the related issuances of inventory from stock that were required to create the product. This approach has the advantage of avoiding all manual assignments of costs to products during the various production stages, thereby eliminating a large number of transactions and the associated cleric

article thumbnail

Top Accounting Conferences for Every Accounting Professional in 2024 

Ace Cloud Hosting

As an accounting leader, you constantly make decisions that affect your organization’s growth. To make the best possible decisions, you need access to the latest information and insights from experts.

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

Opportunity cost of capital definition

Accounting Tools

Related Courses Capital Budgeting Corporate Finance Financial Analysis What is the Opportunity Cost of Capital? The opportunity cost of capital is the incremental return on investment that a business foregoes when it elects to use funds for an internal project, rather than investing cash in a marketable security. Thus, if the projected return on the internal project is less than the expected rate of return on a marketable security, one would not invest in the internal project, assuming that this

article thumbnail

Advancing 275 Electronic Attachments in Medical Billing: A Move Towards Efficiency

SSI Healthcare Rev Cycle Solutions

Advancing 275 Electronic Attachments in Medical Billing: A Move Towards Efficiency Home / November 1, 2023 Author: Tracey Tillman, CRCR, Sr. Director of Product Management at SSI The healthcare sector is no stranger to the myriad complexities associated with medical claims and billing processes. Among them, the 275 electronic attachment is emerging as an essential tool in the realm of Revenue Cycle Management (RCM).

Billing 59
article thumbnail

Incremental budgeting definition

Accounting Tools

Related Courses Budgeting Capital Budgeting What is Incremental Budgeting? Incremental budgeting is budgeting based on slight changes from the preceding period's budgeted results or actual results. This is a common approach in businesses where management does not intend to spend a great deal of time formulating budgets , or where it does not perceive any great need to conduct a thorough re-evaluation of the business.

article thumbnail

Advancing 275 Electronic Attachments in Medical Billing: A Move Towards Efficiency

SSI Healthcare Rev Cycle Solutions

Advancing 275 Electronic Attachments in Medical Billing: A Move Towards Efficiency Home / November 1, 2023 Author: Tracey Tillman, CRCR, Sr. Director of Product Management at SSI The healthcare sector is no stranger to the myriad complexities associated with medical claims and billing processes. Among them, the 275 electronic attachment is emerging as an essential tool in the realm of Revenue Cycle Management (RCM).

Billing 52
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

What Can CPQ Mean for Your Business?

Billing Platform

Are you struggling with inaccurate or inconsistent configurations, quoting, or pricing, slow quote turnaround time, personnel bottlenecks, sales downtime, inaccurate sales forecasting, poor results from upselling and cross-selling initiatives, complicated spreadsheets, or customer dissatisfaction? Have you been wondering what the meaning of CPQ is for your business and if you could benefit from a configure, price and quote (CPQ) solution ?

article thumbnail

The Cost and Savings of Business Tax Planning Services

CSI Accounting & Payroll

Small business taxes can be very expensive! Can a tax planning service help you lower them? If so, do these savings outweigh the cost of the investment? At CSI Accounting & Payroll, we’ve helped small businesses with tax planning for over 50 years. We have seen firsthand the differences in what annual tax filing and year-round tax planning cost - and what they provide.

Tax 52
article thumbnail

New Xero Data Shows US Small Businesses are Getting Paid Faster, Despite Weak Sales Numbers

Insightful Accountant

Xero, the global small business platform, released new findings as part of its Xero Small Business Insights (XSBI) program, which aggregates and anonymizes data from tens of thousands of Xero small business subscribers in North America.

XERO 52
article thumbnail

Headlines: Maryland Can't Account For $1.4 Billion of Covid Funds

Cloud Accounting Podcast

An independent audit reveals over $1.4 billion in questionable spending and lack of financial oversight at Maryland's Health Department during the COVID pandemic. We break down the audit's alarming findings, and the response from state officials committed to improving financial practices. Need CPE? Get CPE for listening to podcasts with Earmark: [link] Subscribe to the Earmark Podcast: [link] Get in Touch Thanks for listening and the great reviews!

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

Are You a Veteran of the US Military?

Insightful Accountant

Veteran's day is fast approaching and we at Insightful Accountant would like to recognize the members of our audience who have served in the US military.

article thumbnail

Overhead definition

Accounting Tools

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals Overhead is those costs required to run a business, but which cannot be directly attributed to any specific business activity, product, or service. Thus, overhead costs do not directly lead to the generation of profits. Overhead is still necessary, since it provides critical support for the generation of profit-making activities.

article thumbnail

App Academy | DocuWare

Insightful Accountant

DocuWare is a document management software and workflow automation for business everywhere.

52
article thumbnail

Reverse factoring definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is Reverse Factoring? Reverse factoring is when a finance company, such as a bank, interposes itself between a company and its suppliers and commits to pay the company's invoices to the suppliers at an accelerated rate in exchange for a discount. This is a lower-cost form of financing that accelerates accounts receivable receipts for suppliers.

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

Accounts Payable Workflow Automation: 9 Undeniable Benefits

AvidXchange

Interested in an innovative way to avoid late payments, invoice approval delays and inefficient, outdated processes? Accounts payable workflow automation can help. Read on to learn the benefits and steps needed to make accounts payable (AP) workflow automation a reality. Learn More About Accounts Payable Automation What is an Accounts Payable Workflow?

article thumbnail

Middle market banking definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is Middle Market Banking? Middle market banking is the concept of providing investment banking services to companies with revenues in the range of $50 million to $1 billion. The mid-range size of these clients forces bankers to specialize in certain areas, where they prefer to carve out defensible market space.

article thumbnail

Donald Trump Jr. says he wasn't involved in financial statements

Accounting Today

"The accountants worked on it," the eldest son of former president Donald Trump testified in a Manhattan courtroom. "That's what we paid them for.

article thumbnail

Accountant responsibility definition

Accounting Tools

Related Courses Ethical Frameworks in Accounting Guide to Auditor Legal Liability How to Conduct an Audit Engagement What is Accountant Responsibility? Accountant responsibility is an accountant’s ethical duty to anyone who relies on their work output. These parties include lenders , creditors , investors , regulators, and anyone else who reads the person’s financial reports.

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.