Tue.Mar 05, 2024

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Court rules Corporate Transparency Act unconstitutional: What's next

Accounting Today

An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power.

Tax 336
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P2P Cycle | The impact of AP Automation beyond Accounts Payable

Cevinio

Explohow the use of AP Automation technology software is benefiting not only Accounts Payable (AP) but the entire procure-to-pay (P2P) cycle.

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The fastest-growing firms in the U.S. — 2024

Accounting Today

The 25 accounting practices with the highest revenue growth in percentage terms in 2023 from Accounting Today's Top 100 and Regional Leaders list.

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6 Steps to Leading Through Change to Drive Transformational Growth

Insightful Accountant

Ashleigh Sutter explores the challenges of transitioning from bookkeeping to tax, offering insights on starting, gaining alignment, executing, and maintaining employee engagement during change.

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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.

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Court deals a blow to BOI reporting regime

Accounting Today

The ruling further complicates an already complicated area — the law's mandate around beneficial ownership information reporting.

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Singapore to Raise Retirement Age to 64 by 2026

Counto

Singapore to Raise Retirement Age to 64 by 2026 In a move towards fostering inclusive and progressive workplaces, Singapore’s retirement age is set to rise to 64 years old in 2026, announced by Minister of Manpower Tan See Leng during the Committee of Supply debate in Parliament. This initiative aims to provide opportunities for seniors to continue contributing to the nation’s transformation journey.

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QB Talks Headed Your Way on March 20, 2024

Insightful Accountant

Alicia Katz Pollock will host QB Talks on Wednesday, March 20,2024 at 2:00 PM Eastern Daylight Time, when she presents 'Revenue Recognition' in QuickBooks Online Advanced.

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The 20 worst states for shopping

Accounting Today

The least attractive place to go shopping has a combined sales tax rate of 9.563%.

Tax 294
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SMB Sales Drop along with Economic Optimism

Insightful Accountant

Xero report shows additional declines in small business sales, and continuing pessimism by business owners about the 2024 economy.

XERO 99
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KPMG faces fresh questions over audits after New York Community turmoil

Accounting Today

The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.

Auditing 171
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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.

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Make or buy analysis

Accounting Tools

What is a Make or Buy Analysis? The make or buy decision involves whether to manufacture a product in-house or to purchase it from a third party. The outcome of this analysis should be a decision that maximizes the long-term financial outcome for a company. This analysis is typically conducted when a business finds that its in-house production capacity is constrained, or when it is having problems sourcing goods from suppliers, or when it is experiencing significant changes in the demand for its

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Small business pay growth slowed in February

Accounting Today

Year-over-year hourly earnings growth for U.S. workers moderated slightly in February, continuing a trend that began mid-2022, while small business job growth held steady.

Payroll 171
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Is BOI Reporting Dead on Arrival?

Blake Oliver

Is BOI reporting dead on arrival? We dive into this question and more on the latest Federal Tax Updates podcast episode. We're talking about a ruling that has the tax and accounting world buzzing: A Federal Court has deemed The Corporate Transparency Act unconstitutional. The decision, rooted in a challenge to the legislative branch's power under the Commerce Clause, not only shakes the foundation of FinCEN's beneficial ownership reporting but also poses questions about the future of this new fe

Tax 59
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Taxes + wealth: 2 connected but still (for now) distinct fields are merging

Accounting Today

Here's how some financial advisors have offered the two services for decades and why the rest of the industry may finally be catching on to the opportunity.

Tax 177
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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!

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AWS S3 Cost Optimization & Monitoring Strategies

Economize

Amazon Simple Storage Service (S3) is an AWS storage solution that stores and retrieves large volumes of data. As organizations increasingly utilize cloud infrastructures, the effective management of expenses becomes a focal point for sustainable operations.

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PCAOB bars Colorado firm from auditing

Accounting Today

The Public Company Accounting Oversight Board revoked the registration of Gries & Associates and its founder, while imposing a $65,000 fine for violations that led to multiple financial restatements.

Auditing 164
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Funding for New Businesses: Why an SBA Loan Is a Great Option

CSI Accounting & Payroll

When you start a new business, you can find yourself going through your funding faster than you expected due to a lack of financial insight. It’s hard to guess what the future holds! You never want to use debt to operate your business, such as taking out a predatory loan just to run your payroll. However, if you’re looking for more funding to grow your business, SBA loans can be exactly what you need!

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Making the write investment

Accounting Today

As accountants, we don't get credit for having correct punctuation and spelling, but missing those things makes you look careless and not focused on the details.

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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.

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Benefits of Digital Transformation on Your Accounts Receivable Processes

oAppsNet

In today’s rapidly evolving business landscape, digital transformation has emerged as a critical imperative for organizations seeking to enhance operational efficiency, drive innovation, and remain competitive in a digital-first world. One area where digital transformation can profoundly impact is accounts receivable (AR) processes. Organizations can streamline AR processes, improve cash flow management, and enhance customer satisfaction by leveraging digital technologies and automation to

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Bill adds predictive insights to finops platform

Accounting Today

Bill announced the addition of two new integrated features to its financial operations platform: Bill Insights and Bill Cash Flow Forecasting.

Billing 131
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Understanding the New Part-Time Re-Employment Grant: Up to $125,000 Grants to Employers

Counto

Understanding the New Part-Time Re-Employment Grant: Up to $125,000 Grants to Employers In a bid to support senior workers and foster an age-friendly workplace environment, the Singapore government has introduced the Part-Time Re-Employment Grant (PTRG). This grant provides substantial funding to employers who offer part-time re-employment, flexible work arrangements (FWAs), and structured career planning (SCP) to their senior employees.

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In the blogs: A breather 

Accounting Today

CTA unconstitutional; AI and your practice; 30 years and counting; and other highlights from our favorite tax bloggers.

Tax 131
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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.

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Nonprofits are Changing the World by Embracing Technology

Tipalti

In an ever-changing economic environment, nonprofit organizations face a growing number of financial challenges - the adoption of finance technology provides significant benefits that go beyond payments.

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The year CAS took over

Accounting Today

Are client advisory services the future of accounting?

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Accounts Payable Turnover Ratio: Definition, Formula & Examples

Plooto

The accounts payable (AP) turnover ratio gives you valuable insight into the financial condition of your company. It is used to assess the effectiveness of your AP process and can alert you to changes needed in your financial management.

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Shrinkage definition

Accounting Tools

What is Shrinkage? Shrinkage is the difference between the book and actual amount of inventory. Its disappearance may be due to theft, damage, miscounting, administrative errors, or evaporation. In the retail industry, the amount of inventory shrinkage represents a major reduction in profitability , so a number of methods are used to combat it, including security cameras, merchandise tagging, and security guards.

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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!

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Member Spotlight: Reaching Goals Against the Odds

NACM

NACM's Professional Certification Program provides credit professionals with an important tool to gain a fresh outlook on the traditional role of credit—education. And what better way to progress in your career than to challenge yourself through learning?With six different levels, the certification program dives into deeper understandings of c.

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Spoilage definition

Accounting Tools

What is Spoilage? Spoilage is waste or scrap arising from the production process. It may also be caused by improper materials handling and storage, which render goods unusable. The term is most commonly applied to raw materials that have a short life span, such as food used in the restaurant industry. Normal Spoilage vs. Abnormal Spoilage Normal spoilage is the standard amount of waste or scrap that is caused by production, and which is difficult to avoid.

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Plentific

Tipalti

Plentific is pioneering real-time property operations for real-world impact. Their end-to-end solution seamlessly connects owners, operators, service providers, and tenants on a single platform.

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Sampling unit definition

Accounting Tools

What is a Sampling Unit in Auditing? A sampling unit is a selection of a population that is used as an extrapolation of the population. Each sampling unit is then placed in a smaller grouping to create a research sample. This grouping is then analyzed to arrive at conclusions about the population from which it was drawn. Example of a Sampling Unit As an example of a sampling unit, a household is used, under the assumption that the polling results from this unit represents the opinions of a large

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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.