Tax season so far: Eclipsing last year
Accounting Today
APRIL 9, 2024
At 90,315,000, the number of individual returns received this tax season finally surpassed the same period last year, up 0.2% as of March 29, 2024.
Accounting Today
APRIL 9, 2024
At 90,315,000, the number of individual returns received this tax season finally surpassed the same period last year, up 0.2% as of March 29, 2024.
Xero
APRIL 9, 2024
If you or your clients are looking for ways to grow profits, drop prices or pay staff more, then one strategy is to lift productivity in your business. But what is productivity exactly (hint: it’s not about working longer hours), and how can you lift it in your small business or practice? What is small business productivity? Small business productivity is the measure of how much value a business can produce using the resources it has at its disposal (ie staff, capital, materials).
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Accounting Today
APRIL 9, 2024
The Internal Revenue Service urged tax professionals to steer clear of so-called "spearphishing" scams from cybercriminals, including identity thieves posing as new clients.
Fidesic blog
APRIL 9, 2024
In this blog post we will tell you what JustPay is, who it's for and how it can help you improve your accounting department.
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.
Accounting Today
APRIL 9, 2024
The tax prep giant settled a proposed class-action suit that said it schemed to prevent employees from moving between corporate and franchisers.
Insightful Accountant
APRIL 9, 2024
New QuickBooks Online Payroll feature lets you quickly create and assign payroll items to multiple employees.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Accounting Tools
APRIL 9, 2024
What are Other Assets? Other assets is a grouping of accounts that is listed as a separate line item in the assets section of the balance sheet. This line item contains minor assets that do not naturally fit into any of the main asset categories, such as current assets or fixed assets. Examples of Other Assets There are several types of assets that can be included in the Other Assets classification.
Accounting Today
APRIL 9, 2024
The Public Company Accounting Oversight Board voted to propose an extensive set of new reporting requirements to impose on auditing firms.
Oversight
APRIL 9, 2024
YOU – A champion in the making! Organizations need AI thought leaders and AI champions, and YOU can become one of them. Leadership needs a business case and a set of clear coordinates for AI applications. Managers need team members who get this powerful new technology, who can see where it best fits into driving new levels of output and positive outcomes.
Accounting Today
APRIL 9, 2024
The free tax program will now import a taxpayer's information from the previous year, as a report finds the program could cost the IRS considerably more than the estimated $249 million per year to maintain.
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.
Economize
APRIL 9, 2024
Azure Cloud Shell is a fully managed service that enables users to interact with Azure resources using a browser-based shell. This innovative service eliminates the need for local installations and configurations of CLI tools, offering a ready-to-use environment accessible from anywhere, at any time.
Accounting Today
APRIL 9, 2024
The Internal Revenue Service and the Treasury Department issued proposed rules for the stock buyback tax for large corporations.
oAppsNet
APRIL 9, 2024
As we enter 2024, the landscape of accounts payable (AP) departments is poised for significant transformation. Evolving technologies, shifting business paradigms, and changing consumer expectations are driving a wave of change that will reshape the roles and responsibilities of AP professionals. This article will explore nine key ways AP departments are expected to change in 2024 and the implications for individuals and organizations. 1.
Accounting Today
APRIL 9, 2024
Registrations are open for the 2024 Accounting MOVE Project, with a focus on private equity's impact on accounting career paths.
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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!
finout
APRIL 9, 2024
In the rapidly evolving world of technology, AWS Generative AI is leading the charge, offering a suite of services designed to revolutionize how we approach artificial intelligence (AI) and machine learning (ML). These innovative tools and environments are crafted to assist in developing, training, and deploying AI models, including the increasingly crucial Large Language Models (LLMs).
Accounting Today
APRIL 9, 2024
Here's why it's helpful to keep a big multifunction printer with lots of extra printing capacity and even fax capability.
Accounting Tools
APRIL 9, 2024
What is a Warranty Liability? A warranty liability is a liability account in which a company records the amount of the repair or replacement cost that it expects to incur for products already shipped or services already provided. This represents a future commitment to correct any issues that customers may have with warrantied products. This can be a significant liability for more complex products that are subject to breakage.
Accounting Today
APRIL 9, 2024
Chief obstacles; tax illiteracy; what makes a great preparer; and other highlights from our favorite tax bloggers.
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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
APRIL 9, 2024
What is a Write-Down? A write-down occurs when a business reduces the carrying amount of an asset , other than through normal depreciation and amortization. A write-down is normally done when the market value of an asset declines below its current carrying amount. The entire amount of the write-down charge appears on the income statement , while the reduced carrying amount of the asset appears on the balance sheet.
NACM
APRIL 9, 2024
NACM's Professional Certification Program provides six quality levels of education for credit professionals either seeking new skills or sharpening the skills they already have. And for Angela Dixon, CBF, CCRA, lead credit underwriter at Cary Oil Co., Inc. (Cary, NC), earning one certification was just the beginning of her designation journey. Thou.
Accounting Tools
APRIL 9, 2024
What is the Reserve for Encumbrances? The reserve for encumbrances is an account containing that portion of a fund balance that has been set aside for the payment of an obligation. For example, the reserve could be used to pay for a maintenance contract or an issued purchase order. By using a reserve, a government entity is better able to control its expenditures by avoiding over-commitments of its funds.
Counto
APRIL 9, 2024
Sole Proprietorship vs Pte Ltd – Which One Is Right for You? When venturing into the business world in Singapore, one of the foremost decisions you’ll make is selecting the appropriate business structure. For entrepreneurs, the choice often boils down to two main options: sole proprietorship and private limited company (Pte Ltd). Each structure carries its unique advantages and challenges, making a well-informed decision critical for your business’s success.
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
APRIL 9, 2024
What is a Revenue Center? A revenue center is a distinct operating unit of a business that is responsible for generating sales. For example, a department store may consider each department within the store to be a revenue center, such as men's shoes, women' shoes, men's clothes, women's clothes, jewelry, and so forth. A revenue center is judged solely on its ability to generate sales; it is not judged on the amount of costs incurred.
Accounting Tools
APRIL 9, 2024
What is Significant Influence? Significant influence is the power to participate in the operating and financial policy decisions of an entity; it is not control over those policies. If an investor holds at least 20 percent of the voting power of an investee, the investor is presumed to have significant influence. The assumption of influence can be reversed through a clear demonstration to the contrary.
Accounting Tools
APRIL 9, 2024
What is Reproduction Cost? Reproduction cost is the expenditure required to reproduce an asset at current prices. The level of reproduction is assumed to be exact - involving the same materials and specifications as were used for the original asset. The concept is used in the insurance industry to assist in determining the price to charge to insure against the destruction of a customer's asset.
Accounting Tools
APRIL 9, 2024
What is Repairs and Maintenance Expense? Repairs and maintenance expense is the cost incurred to ensure that an asset continues to operate. This may involve bringing performance levels up to their original level from when an asset was originally acquired, or merely maintaining the current performance level of an asset. Expenditures required to increase the performance level may result in the capitalization of the additional costs.
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
APRIL 9, 2024
What is the Risk-Return Tradeoff? The risk-return trade-off states that the level of return to be earned from an investment should increase as the level of risk goes up. Conversely, this means that investors will be less likely to pay a high price for investments that have a low risk level, such as high-grade corporate or government bonds. Different investors will have different tolerances for the level of risk they are willing to accept, so that some will readily invest in low-return investment
Accounting Tools
APRIL 9, 2024
What is a Revaluation Surplus? A revaluation surplus is an equity account in which is stored any upward changes in the value of capital assets that exceed its prior book value. This surplus is only used when you are following the Revaluation Model to account for fixed assets. This approach is only allowed under International Financial Reporting Standards.
Accounting Tools
APRIL 9, 2024
What is Reacquired Stock? Reacquired stock is shares that the issuing entity has purchased back from investors. These shares are no longer classified as being outstanding, and cannot be used to vote on issues brought before shareholders for their approval. Reasons to Reacquire Stock There are several reasons why a business might elect to reacquire stock, including the following items: Alter capital structure.
Accounting Tools
APRIL 9, 2024
What is an Operating Segment? An operating segment is a component of an entity that is a profit center , that has discrete financial information available, and whose results are reviewed regularly by the entity's chief operating decision maker for purposes of performance assessment and resource allocation. An operating segment generally has a segment manager who is accountable to the chief operating decision maker for the results of the segment.
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