Enterprise Recovery
MAY 19, 2023
With the "unprecedented" events of the past few years, businesses are looking to become more efficient in all areas of their organizations. An area that is often overlooked due to its manual processes is accounts receivable. Even though payments by check have declined since 2019, thirty percent of B2B clients are still writing checks and sending them in the mail.
Accounting Tools
MAY 19, 2023
Related Courses Going Concern Audit Issues How to Conduct an Audit Engagement What is the Going Concern Qualification? The going concern principle is that you assume a business will continue in the future, unless there is evidence to the contrary. When an auditor conducts an examination of the accounting records of a company, he or she has an obligation to review its ability to continue as a going concern; if the assessment is that there is a substantial doubt regarding the company's ability to
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Counto
MAY 19, 2023
What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Accounting Tools
MAY 19, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Ledger Account? A ledger account contains a record of business transactions. It is a separate record within the general ledger that is assigned to a specific asset, liability, equity item, revenue type, or expense type. Examples of Ledger Accounts Examples of ledger accounts are cash, accounts receivable, inventory, fixed assets, accounts payable accrued expenses, debt, stockholders’ equity, revenu
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.
Counto
MAY 19, 2023
How AI Is Revolutionising Accounting For Small Businesses In the modern business world, Artificial Intelligence (AI) like ChatGPT has made remarkable strides, presenting unprecedented opportunities to revolutionise accounting services for small businesses. AI can streamline accounting processes, enhance the accuracy and efficiency of financial data analysis, and speed up financial reporting to levels previously unimaginable.
Accounting Tools
MAY 19, 2023
Related Courses Cost Accounting Fundamentals Cost Management Guidebook What is a Deferred Cost? A deferred cost is a cost that you have already incurred, but which will not be charged to expense until a later reporting period. In the meantime, it appears on the balance sheet as an asset. The reason for deferring recognition of the cost as an expense is that the item has not yet been consumed.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Jetpack Workflow
MAY 19, 2023
Developing bad habits is easy to do in the early days of running your accounting firm. It’s also understandable. Who has time to keep everything in order when your focus is on growing your firm? One of the more common “bad habits” is unorganized and incomplete client folders, which vary from one client to the next. As your firm grows, this will likely cause several issues, including: Endless back-and-forths with clients Missed deadlines Erroneous mistakes on crucial documents Undue frustration f
Analytix Finance & Accounting
MAY 19, 2023
CFOs play a prominent role in the success of a business. They protect the company’s finances and steer the business towards continuous improvement by taking actions dependent on the existing scenario. Hiring a CFO can be a good idea if you own or manage a startup and find managing the key aspects of your finances to be challenging. If your company is not yet ready to hire a full-time CFO, there are great options available for you.
Jetpack Workflow
MAY 19, 2023
You already know about the standard suite of CPA tools available: QuickBooks, Xero, NetSuite, and others. But are there other tools you should consider to help run your business and be more productive? Reliable software tools can make your job easier and scale with you as you grow your firm rather than limit your potential or overcomplicate operations.
Accounting Fun
MAY 19, 2023
Awards not presented at this year's Taxation awards celebration included: Large firm Longest name for a tax team in a large firm Most widely dispersed tax 'team' in a large firm Medium sized firm Highest percentage lock-up in a medium sized firm Most imaginative disclosure on a tax return by a medium sized firm Longest meeting with HMRC in a medium sized firm Most fee notes for tax advice given to one client in one year, in a medium sized firm Small firm Worst client toilet in a small firm Best
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.
Accounting Tools
MAY 19, 2023
Related Courses Business Ratios Guidebook Key Performance Indicators The Interpretation of Financial Statements What are Activity Ratios? Activity ratios measure how well an organization uses its assets to generate revenue. A well-managed organization minimizes its use of receivables , inventory , and fixed assets while still generating the largest-possible amount of revenue.
Tipalti
MAY 19, 2023
Streamline workflow processes with QuickBooks integrations. This guide walks you through the top QuickBooks integrations, their benefits, and how to get started.
Accounting Tools
MAY 19, 2023
What is Consideration? Consideration is a payment made by one party to another in exchange for the transfer of something of value. Consideration can include the payment of property, the settlement of an obligation , or forbearance. It must be of value to both parties entering into a transaction. If valuable consideration is not part of a contract, the contract can be declared invalid.
NACM
MAY 19, 2023
Lien rights grant legal authority for contractors, subcontractors and suppliers to file a mechanic's lien against the owner's property or, in the case of a government project, the right to make a bond claim. It is also a security to force payment. But statutory changes like with Texas' recent property code make it harder to protect those lien right.
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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!
Accounting Tools
MAY 19, 2023
Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is a Depreciable Asset? A depreciable asset is property that provides an economic benefit for more than one reporting period. A capitalization limit may also be applied to keep lower-cost purchases from being classified as depreciable assets. A qualifying expenditure is initially classified as an asset , after which its cost is gradually depreciated over time to reduce its book value.
NACM
MAY 19, 2023
? Supplier vetting falls under the ever-expanding list of credit department responsibilities. Credit professionals can use their risk management skills on the other side of business to protect their company from faulty suppliers.⭐ On today's episode of the Extra Credit #podcast, hear from Kevin Chandler; Shaun Papperman, CCE, CICP, CCRA; and.
Accounting Tools
MAY 19, 2023
Related Courses Corporate Cash Management Corporate Finance What is the Stated Interest Rate? The stated interest rate is the interest rate listed on a bond coupon. This is the actual amount of interest paid by the bond issuer. Thus, if the issuer pays $60 on a bond with a face value of $1,000, then the stated interest rate is 6%. An investor can adjust the effective interest rate received by paying more or less than the face value when buying a bond.
Accounting Tools
MAY 19, 2023
Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Divestitures and Spin-Offs Mergers and Acquisitions What is Due Diligence? Due diligence is the research conducted prior to engaging in an acquisition transaction. Working through a due diligence checklist allows someone to have a full knowledge of the risks associated with a transaction.
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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 19, 2023
Related Courses Credit and Collection Guidebook What is a Credit Limit? A credit limit is the maximum amount of credit offered to a customer. It is used to limit the amount of loss that a business will sustain if a customer does not pay. The amount of a credit limit is established by the credit department. The amount of the credit limit is based on a number of factors, such as the following: A customer’s credit score, as calculated by a credit rating agency.
Accounting Tools
MAY 19, 2023
Related Courses Operations Management What is Downtime? Downtime is the period during which equipment is not operational. This situation is caused by such factors as maintenance, setup for a job, broken equipment, or missing inputs, such as raw materials or qualified operators. Managers try to minimize downtime in order to maximize equipment availability, which increases the capacity of a business.
Accounting Tools
MAY 19, 2023
Related Courses Accounting for Intangible Assets The goodwill of a reporting unit should be tested for impairment on an annual basis, which can be performed at the same time in each succeeding year. It is not necessary to test all reporting units of a business at the same time. The accountant should also test the goodwill of a reporting unit for impairment between the normal annual tests if there is a change that would more likely than not reduce its fair value below its carrying amount.
Accounting Tools
MAY 19, 2023
Related Courses Cost Accounting Fundamentals Cost Management Guidebook What is Cost Control? Cost control involves targeted expenditure reductions in order to increase profits. Implementing this level of control can have a profoundly positive impact on profits over the long term. The following four steps are associated with cost control: Step 1. Create a Baseline Establish a standard or baseline against which actual costs are to be compared.
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 19, 2023
Related Courses The Income Statement The Interpretation of Financial Statements What is a Partial Income Statement? A partial income statement reports information for only part of a normal accounting period. This tends to be a special-purpose document that is only used once. For example, a company may have acquired another business in the middle of a month, and so only needs the financial results of the acquiree for the remaining days of the accounting period for consolidation purposes.
Accounting Tools
MAY 19, 2023
Related Courses Corporate Finance Treasurer's Guidebook What are the Types of Preference Shares? Preference shares are shares in the equity of a company that entitle the holder to a fixed dividend amount to be paid by the issuer. This dividend must be paid before the company can issue any dividends to its common shareholders. Also, if the company is dissolved, the owners of preference shares are paid back before the holders of common stock.
Accounting Tools
MAY 19, 2023
Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is Simple Interest? Simple interest is calculated based solely on a percentage of the loaned amount. This results in an easily calculated interest charge over the life of a loan. What is Compound Interest? Compound interest is calculated based on a percentage of the loaned amount and interest.
Accounting Tools
MAY 19, 2023
Related Courses Investing Guidebook What is At Par? When a security is trading at its face value , it is said to be trading at par. Par value is determined when a security is initially issued, and is stated on the face of the document. For example, if a bond has a face value of $1,000 and it sells on the open market at that price, then it is trading at par (at which point its price would be quoted at 100, indicating that it is trading at 100% of its stated par value).
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 19, 2023
Related Courses Accounting Controls Guidebook What are Application Controls? Application controls improve the quality of the data that is input into a database. An example of an application control is the validity check, which reviews the data entered into a data entry screen to ensure that it meets a set of predetermined range criteria. Or, a completeness check will examine a data entry screen to see if all fields have an entry.
Accounting Tools
MAY 19, 2023
Related Courses Accounting for Earnings per Share What is Antidilutive? A financial transaction is considered to be antidilutive when the outcome is an increase in earnings per share , either by increasing earnings or reducing the number of shares outstanding. Antidilutive transactions are excluded from the calculation of fully diluted earnings per share.
Accounting Tools
MAY 19, 2023
Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is an Applied Cost? An applied cost is a cost that has been applied to a cost object , such as a product, department, or activity. A predetermined allocation rate is typically used to assign costs to cost objects. The allocation rate is based on the planned amount of the cost pool and a planned activity level.
Accounting Tools
MAY 19, 2023
Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud What is Accounting Cushion? An accounting cushion is the recognition of an excessively large expense reserve in the current period. Doing so has two positive effects for the reporting entity. First, taxable income is reduced in the current period, thereby deferring a certain amount of income tax liability.
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