Thu.Oct 12, 2023

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Number of accounting grads plummets further

Accounting Today

The number of students earning accounting degrees keeps falling, according to the latest figures released by the American Institute of CPAs.

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The Importance of Regular Inventory Checks for Your Business

Accounting Department

Inventory management is crucial for any business, regardless of its size or industry. But, as a business owner, you may wonder how often you should perform a thorough inventory check.

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Retirees will get 3.2% Social-Security boost next year, smallest gain since 2021

Accounting Today

Monthly checks for the more than 71 million people receiving retirement or disability benefits in the U.S. will get a 3.2% increase next year, the smallest gain since 2021, reflecting a significant cooling in the rate of inflation.

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3 Realities to Make your C-Suite Care about AP Automation

Fidesic blog

Whether you’re talking about your COO, CFO, CIO or the entire executive suite, these folks are probably juggling a lot of moving parts. If they are hesitant to invest or even spend time discussing AP automation, it’s probably because they are dedicating their busy calendar time to what they see as more important and more exciting.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Audit deficiencies rising, despite quality reviews

Accounting Today

The PCAOB released a report that found 42% of auditing firms got at least one quality control criticism related to engagement quality reviews.

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Summary of Intuit's Investor Day 2023 Report

Insightful Accountant

Take a look at Intuit's bold goals, new strategy and five big bets for the company's future.

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Finance Leaders Continue to Automate AP, Payment Processes to Drive Efficiency

Insightful Accountant

Digitization of accounts payable tops finance leaders’ priorities for third consecutive year in MineralTree’s annual 'State of AP Report.

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IRS sees tax gap widen to $688B

Accounting Today

The service updated its tax-gap projections for tax years 2020 and 2021, predicting a big jump from prior estimates.

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Credit risk definition

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections What is Credit Risk? Credit risk is the risk of loss due to a borrower not repaying a loan. More specifically, it refers to a lender’s risk of having its cash flows interrupted when a borrower does not pay principal or interest to it. Credit risk is considered to be higher when the borrower does not have sufficient cash flows to pay the creditor , or it does not have sufficient assets to liquidate make a payment.

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Tax Fraud Blotter: Closure

Accounting Today

No temporary solution; cooking some books; French connection; and other highlights of recent tax cases.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Bad debt definition

Accounting Tools

Related Courses Bookkeeping Guidebook Credit and Collection Guidebook How to Audit Receivables What is a Bad Debt? A bad debt is a receivable that a customer will not pay. Bad debts are possible whenever credit is extended to customers. They arise when a company extends too much credit to a customer that is incapable of paying back the debt , resulting in either a delayed, reduced, or missing payment.

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Microsoft plans to contest IRS claim it owes $28.9B in back taxes

Accounting Today

The dispute centers on a 2012 IRS audit into transfer pricing, a method used by companies to shift profits to tax havens and avoid the U.S. corporate tax rate.

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Navigating the Talent Crisis in Firms and the Impact of TurboTax Live

Jetpack Workflow

Podcast Summary In this episode of “Growing Your Firm,” host David Cristello interviews David Leary, partner at Earmark Media and co-host of The Accounting Podcast. They discuss David Leary’s experience of being fired as a client from an accounting firm and how it led him to become a business owner and customer of accounting firms. They also touch on the talent shortage in the industry and the quality of TurboTax Live.

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The 'proof of reserves' myth in crypto-accountancy

Accounting Today

Since crypto's meltdown in 2022 the digital asset industry has come to rely on "proof of reserves" as the go-to attestation, from an internal accounting and market reassurance perspective.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Payment Processor

Tipalti

Payment processors also work as intermediaries to process other payment methods. These payment options include ACH bank transfer and eCheck. E-check is a broad term for electronic checks used for ACH and global payments made through a payment processor.

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KPMG fined a record £21M over Carillion audit scandal

Accounting Today

"These findings are damning," Jon Holt, chief executive officer of KPMG in the U.K., said. "It is clear to me that our audit work on Carillion was very bad, over an extended period.

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Is Concur Down?

Tipalti

Which alternatives rival ZipHQ when it comes to procurement automation and business spend control solutions? Read our comprehensive breakdown of top ZipHQ competitors.

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TCFD finds more companies making climate disclosures in final report

Accounting Today

The Task force on Climate-related Financial Disclosures is seeing more than half of companies issuing at least a handful of the disclosures it recommends.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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How to automate sales order processing in SAP

Nanonets

The problem of manual sales order processing The sales order processing workflow is integral to the overall order to cash process. In most medium to large B2B businesses sales orders are still entered/created manually by internal sales reps. This is the case even for large organisations that use SAP as their system of record (ERP) and process large volumes of orders.

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M&A roundup: CohnReznick and U.K. firms expand

Accounting Today

CohnReznick acquired Exiger's public sector advisory group; DJH Mitten Clarke acquired Revell Ward, Lyon Griffiths, and Haines Watts' Altrincham office; and OD Accountants acquired Probusiness.

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Supplier Payments Process

Tipalti

The supplier payment process involves tax compliance, fraud monitoring, currency exchange rates, banking requirements, and more. If your supplier payment process can’t nimbly respond to these factors, you’ll have to manually adjust to each vendor’s situation.

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German Cum-Ex mastermind loses appeal at top criminal court

Accounting Today

Hanno Berger was convicted in a tax scandal that robbed billions of euros from government coffers and ensnared some of Wall Street's biggest banks.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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Systematic expensing definition

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is Systematic Expensing? Systematic expensing is the charging of an asset to expense over a period of time, using a consistently-applied methodology. This approach is commonly used for depreciation and amortization , where a straight-line, accelerated, or usage-based expensing approach is applied.

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How large firms are winning global clients

Accounting Today

The best and most differentiated firms prioritize leveraging technology to increase their clients' efficiency.

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Service revenue definition

Accounting Tools

Related Courses Accountants' Guidebook How to Audit Revenue Revenue Recognition What is Service Revenue? Service revenue is the sales reported by a business that relate to services provided to its customers. This revenue has usually already been billed, but it may be recognized even if unbilled, as long as the revenue has been earned. Service revenue does not include any income from the shipment of goods, nor does it include any interest income.

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White House blames Trump tax cuts for helping 2023 deficit surge

Accounting Today

The White House Council of Economic Advisers said a reduction in revenues from capital gains taxes has played a notable role in the widening deficit.

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How to Modernize Manufacturing Without Losing Control

Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives

Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri

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Billing statement definition

Accounting Tools

Related Courses Credit & Collection Guidebook Effective Collections How to Audit Receivables What is a Billing Statement? A billing statement is a listing of the transactions impacting an account during a specific period of time. Statements are typically sent to customers on a monthly basis, so that they can review and verify account activity. The format of a statement that relates to unpaid customer receivables usually contains a reminder to pay any unpaid amounts that have exceeded the pay

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Single entity definition

Accounting Tools

What is a Single Entity? A single entity is an operating unit for which financial information is reported. A single entity may be a separate legal entity, a subsidiary , department , or any other designation – as long as information is collected specifically for it, and decisions are made based on that information. For example, the CEO of a conglomerate requests that a single entity report be generated that shows the financial performance of its North American subsidiary.

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Sales account definition

Accounting Tools

A sales account contains the record of all sales transactions. This includes both cash sales and credit sales. The account total is then paired with the sales returns and allowances account to derive the net sales figure that is listed at the top of the income statement. The sales account concept can also refer to a current customer. Once sales are made to a customer, it is known as a sales account.

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Simple journal entry definition

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a Simple Journal Entry? A simple journal entry is an accounting entry in which just one account is debited and one is credited. The use of simple journal entries is encouraged as a best practice, since it is easier to understand these entries. The best possible approach to their use is to thoroughly document the reasons for each entry, and store this backup information along with a copy of the entry.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.