Fri.Oct 27, 2023

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Small businesses see sales decline

Accounting Today

Small businesses are experiencing the weakest sales since 2020, according to a new report from Xero, despite signs of an improving economy.

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The Art of Employee Recognition at a Growing Remote Company | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

Join your host, Kevin Drye, and Director of Marketing, Andrea Boccard, as they take a deep dive into the art of appreciating your workforce.

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Tech News: EY and AuditBoard release risk assessment tools

Accounting Today

Plus, Gusto and FreshBooks jointly release FreshBooks Payroll; and other accounting technology news.

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How Intuit’s tech culture helped me grow as an individual and engineer

Intuit

Tell us about your career journey to Intuit. How did you learn about the Apprenticeship Pathway Program ? Anything you would like to share about that experience? I learned about the Apprenticeship Pathway Program through G{Code}, an organization that teaches the basics of web development to women and non-binary POC. It was a challenging but life-changing experience.

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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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Career sustainability: A super-skill for women in accounting

Accounting Today

The 2023 Accounting MOVE Project report focuses on how women can navigate the shifting workplace in the accounting profession.

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11 Best Movies Accountants Must Watch in 2024

Ace Cloud Hosting

In a world where numbers and spreadsheets often take center stage, it’s time for accountants and financial enthusiasts to let their hair down and embrace the cinematic side of life.

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Invoice Financing: Breaking Down the Basics and Real-World Success Stories 

FundThrough

Cash flow issues can feel like an uphill battle for many business owners, especially when you’re waiting on unpaid invoices. We get it – as both both finance leaders and entrepreneurs ourselves, we know all too well how cash flow can make or break a business. As traditional methods like lines of credit become more […] The post Invoice Financing: Breaking Down the Basics and Real-World Success Stories appeared first on FundThrough.

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Accountants generally like their tax software, but fewer would recommend it

Accounting Today

A survey by the National Association of Tax Professionals revealed two programs that stand out.

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The difference between cost accounting and financial accounting

Accounting Tools

Related Courses Accountants’ Guidebook Cost Accounting Fundamentals There are a number of differences between cost accounting and financial accounting , which are noted below. In brief, the key differences between cost and financial accounting are that cost accounting is inwardly focused on management decisions, while financial accounting is focused on issuing financial statements to outside parties.

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EY cuts U.K. partner payouts as Big Four face slowdown

Accounting Today

Partners at the Ernst & Young in the U.K. saw their share of profits drop for the first time in three years as the Big Four face economic uncertainty.

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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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Window dressing in accounting

Accounting Tools

Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud What is Window Dressing? Window dressing is actions taken to improve the appearance of a company's financial statements. Window dressing is particularly common when a business has a large number of shareholders , so that management can give the appearance of a well-run company to investors who probably do not have much day-to-day contact with the business.

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On the move: Traphagen CPAs raises $1K for American Cancer Society

Accounting Today

REDW relocates Albuquerque office; Eide Bailly names nonprofit Project Chimps winner of its annual Resourcefullness Award; and more news from across the profession.

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Incorporations, LLCs, and Business Filings – Made Easy for Accountants with MyCorporation

Insightful Accountant

MyCorporation has been a reliable resource for accountants looking to complete business filings for their clients for more than 25 years.

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Carbon offset market faces chaos as mega-project collapses

Accounting Today

An investigation found significant flaws in accounting behind carbon credits from Zimbabwe-based Kariba.

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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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10 scary tax movies for Halloween

Accounting Fun

Tax Return of the Living Dead Silence of the ledgers Friday 31st January Rosemary's Bookkeeper The Taxorcist Auditor Dogs VATman begins Psycho tax inspector Phantom of the Tax Office Little shop of HMRC

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CPA services aren't keeping up with changing times

Accounting Today

The business model of a CPA firm has shifted, and many firms are still not acknowledging that.

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Headlines: Questions Surround Justice Thomas' RV Loan

Cloud Accounting Podcast

A recent report alleges Supreme Court Justice Clarence Thomas failed to disclose that a $267,000 recreational vehicle loan from a friend was forgiven, raising questions about potential tax issues and scrutiny around the justice's 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!

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What CPAs can learn from Turo

Accounting Today

Your competitors of the future are probably not who you think they are.

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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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Profit center definition

Accounting Tools

What is a Profit Center? A profit center is a business unit or department within an organization that generates revenues and profits or losses. Management closely monitors the results of profit centers, since these entities are the key drivers of the total results of the parent entity. Management typically uses profit center results to decide whether to allocate additional funding to them, and also whether to shut down low-performing units.

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Burnout: The Corporate Vampire Sucking Life from Your Employees

NACM

?️ On today's episode of NACM's Extra Credit podcast.?‍♂️ Burnout has become a corporate vampire, draining the life out of employees through emotional exhaustion and lost productivity.

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How to calculate working capital

Accounting Tools

Related Courses Working Capital Management Working capital is calculated by subtracting current liabilities from current assets. It is used in several ratios to estimate the overall liquidity of a business; that is, the ability to meet obligations when due. At a high level, the calculation of working capital is as follows: Current assets - Current liabilities = Working capital The working capital figure will likely change every day, as additional accounting transactions are recorded in the accou

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Is Consumption-Based Pricing Right for Your Company?

Billing Platform

The next evolution of pricing models is not only here but revolutionizing how companies are billing for the products and services provided. Sometimes referred to as pay-as-you-go billing, usage-based pricing, or metered billing – a consumption-based pricing model charges based on what you use or consume. This provides customers with the potential to save a significant amount of money.

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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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Unqualified opinion definition

Accounting Tools

Related Courses How to Conduct an Audit Engagement What is an Unqualified Opinion? An unqualified opinion is an audit report that has been issued with no reservations regarding the state of an audit client's financial statements. In this opinion, the auditor follows a standard opinion format to state that the financial statements are a fair representation of the financial results and condition of a client, in accordance with the applicable accounting framework (such as GAAP ).

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How AvidXchange Empowers Political Campaigns

AvidXchange

Jamestown Associates is one of the nation’s premier political consulting firms, handling high-profile campaigns for TV, video, radio and mail. With a collection of award-winning editors, designers and top-tier political strategists, Jamestown has won countless industry awards and continues to thrive within the political landscape. From the initial client briefing to the execution of a media buy, Jamestown’s dedication to its clients’ success is apparent throughout its entire process, including

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Loan payable definition

Accounting Tools

Related Courses The Balance Sheet What is a Loan Payable? A loan is an arrangement under which the owner of property allows another party the use of it (usually cash ) in exchange for an interest payment and the return of the property at the end of the lending arrangement. The loan is documented in a promissory note. If any portion of the loan is still payable as of the date of a company's balance sheet , the remaining balance on the loan is called a loan payable.

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Uncleared check definition

Accounting Tools

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash What is an Uncleared Check? An uncleared check is a check that has not yet been paid by the bank on which it was drawn. Such a check has already been recorded by the payee and presented to its bank. There is a clearing cycle that must then be completed that lasts several days.

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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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Undeposited checks definition

Accounting Tools

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash What are Undeposited Checks? Undeposited checks are checks that have been received from customers , but not yet deposited. There are several possible reasons why a business might have undeposited checks, including the following: The business operates on the cash basis of accounting , and does not want to record any additional income in the current reporting period.

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Unsecured creditor definition

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law What is an Unsecured Creditor? An unsecured creditor is an entity that has extended credit to another party without first obtaining a collateral agreement. If the debtor is subsequently unable to pay, then the unsecured creditor will not be eligible for reimbursement until the claims of all secured creditors have been settled.

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Unit of measure concept

Accounting Tools

Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the Unit of Measure Concept? The unit of measure concept is a standard convention used in accounting, under which all transactions must be consistently recorded using the same currency. For example, a business maintaining its records in the United States would record all of its transactions in U.S. dollars, while a German company would record all of its transactions in Euros.

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Underapplied overhead definition

Accounting Tools

Related Courses Accounting for Inventory Cost Accounting Fundamentals What is Underapplied Overhead? Underapplied overhead refers to the amount of actual factory overhead costs that are not allocated to units of production. This situation arises when the standard allocation amount per unit of production does not equate to the actual amount of overhead costs incurred in a reporting period.

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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.