Insightful Accountant
OCTOBER 22, 2023
As part of security enhancements being implemented between mid-October and the end of November 2023, Chase Bank will require all QBO and QuickBooks Desktop users to reconnect their bank connections.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Inventory Inventory Management What is Stock Taking? Stock taking is the counting of on-hand inventory. This means identifying every item on hand, counting it and summarizing these quantities by item. There may also be a verification step, where the count results are compared to the inventory unit counts in a company's computer system.
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Insightful Accountant
OCTOBER 22, 2023
US and Canadian users of Sage 50 now can integrate Sage HR to bring together their accounting, HR and payroll functionalities to streamline their operational environment.
Accounting Tools
OCTOBER 22, 2023
Related Courses The Balance Sheet The Income Statement The Statement of Cash Flows The following are all qualitative characteristics of financial statements. Understandability The information must be readily understandable to users of the financial statements. This means that information must be clearly presented, with additional information supplied in the supporting footnotes as needed to assist in clarification.
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.
NextProcess
OCTOBER 22, 2023
Improve Supplier Relationships with Procurement KPI Tracking With the current state of the economy, tracking and analyzing spend is more important than ever before. To accurately assess the whole procure-to-pay cycle, your company needs to identify Key Performance Indicators. Tracking these KPIs gives you insight into spend, letting you know if the company is performing well and hitting goals.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the Prudence Concept? Under the prudence concept, do not overestimate the amount of revenues recognized or underestimate the amount of expenses. Also, one should be conservative in recording the amount of assets , and not underestimate liabilities. The result should be conservatively-stated financial statements.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Accounting Tools
OCTOBER 22, 2023
Related Courses Cost Accounting Fundamentals What is Variable Cost? A variable cost is a cost that varies in relation to either production volume or the amount of services provided. If no production or services are provided, then there should be no variable costs. If production or services are increasing, then variable costs should also increase. How to Calculate Total Variable Costs To calculate total variable costs, multiply the total quantity of units produced by the variable cost per unit.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is Relevance in Accounting? Relevance is the concept that the information generated by an accounting system should impact the decision-making of someone perusing the information. The concept can involve the content of the information and/or its timeliness, both of which can impact decision making.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Inventory Cost Accounting Fundamentals What is a Job Cost Sheet? A job cost sheet is a compilation of the actual costs of a job. The report is compiled by the accounting department and distributed to the management team, to see if a job was correctly bid. The sheet is usually completed after a job has been closed, though it can be compiled on a concurrent basis.
Accounting Tools
OCTOBER 22, 2023
Related Courses New Manager Guidebook Operations Management What is Kaizen? Kaizen is a continuous improvement process that targets small, incremental enhancements to existing processes. It usually involves a large proportion of the work force of an organization. Kaizen is most commonly targeted at production processes but can be applied anywhere within a business.
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
OCTOBER 22, 2023
Related Courses Budgeting Capital Budgeting Financial Analysis What are Profit Variances? Profit variance is the difference between the actual profit experienced and the budgeted profit level. There are four types of profit variance, which are derived from different parts of the income statement. They are noted below. A profit variance is considered to be favorable if the actual profit is greater than the budgeted amount.
Accounting Tools
OCTOBER 22, 2023
Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Capital Adequacy Ratio? The capital adequacy ratio measures the ability of a bank to meet its obligations by comparing its capital to its assets. Regulatory authorities monitor this ratio to see if any banks are at risk of failure. The intent behind their monitoring is to protect the financial system from the negative effects of any bank failures, which includes protecting the funds of bank depositor
Accounting Tools
OCTOBER 22, 2023
Related Courses Business Combinations Divestitures and Spin-Offs Mergers and Acquisitions Nonprofit Accounting What is the Carryover Method of Accounting? When there is a merger of nonprofit entities, a new nonprofit entity is created. A merger occurs when the existing entities cede control to a new nonprofit. The carryover method is used to account for this event.
Accounting Tools
OCTOBER 22, 2023
Related Courses Cost Accounting Fundamentals In a standard costing system, most companies go through a cost updating process once a year, in order to bring standard costs more closely in alignment with actual costs. However, there are cases where actual costs fluctuate considerably over time, resulting in large positive or negative variances. In these cases, you can either update costs on a more frequent schedule or in response to a triggering event.
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Accounting Tools
OCTOBER 22, 2023
Related Courses Credit and Collection Guidebook Financial Analysis What is Residual Income? There are three definitions of residual income. They involve the remaining amount of income after all bills are paid, the income from passive investments, and the difference between operating income and the cost of capital. We address each one below. Residual Income for the Individual Residual income is the amount of personal income left after an individual has paid his bills and periodic mortgage payment
Accounting Tools
OCTOBER 22, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook A general ledger account is a record in which is recorded a specific type of transaction. These transactions can relate to assets , liabilities , equity , sales , expenses , gains , or losses - in essence, all of the transactions that are aggregated into the balance sheet and income statement.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Stock-Based Compensation What is a Reload Feature? A reload feature automatically grants additional stock options whenever an option holder exercises previously granted options using an entity's shares to satisfy the exercise price. New stock options granted under this feature have the same expiry date as the old options.
Accounting Tools
OCTOBER 22, 2023
Related Courses Budgeting Capital Budgeting Purchasing Guidebook What is the Purchases Budget? A purchases budget contains the amount of inventory that a company must purchase during each budget period. The amount stated in the budget is the amount needed to ensure that there is sufficient inventory on hand to meet customer orders for products. At the simplest level, the purchases budget can simply match the exact number of units expected to be sold in the budget period.
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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
OCTOBER 22, 2023
Related Courses Business Ratios Guidebook Environmental Accounting The Interpretation of Financial Statements What are Environmental Metrics? Given the growing worldwide emphasis on pollution reduction, companies should be aware of how their operations impact the environment. Since accountants are in the business of issuing operational reports, we should consider becoming involved in providing environmental metrics to management.
Accounting Tools
OCTOBER 22, 2023
Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is a Private Investment in Public Equity? A private investment in public equity (PIPE) occurs when a public company sells its securities to accredited investors. Doing so reduces the filing paperwork for the seller. Private investors are usually willing to engage in such a transaction when they are offered a discount from the market price of a company's securities, typically in the range of a 10% to 25% discou
Accounting Tools
OCTOBER 22, 2023
Related Courses Cost Accounting Fundamentals What are Indirect Expenses? Indirect expenses are those expenses that are incurred to operate a business as a whole or a segment of a business, and so cannot be directly associated with a cost object , such as a product, service, or customer. A cost object is any item for which you are separately measuring costs.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is Overhead Incurred? Overhead incurred is the indirect costs that an entity actually experiences during a reporting period. These costs are accumulated in an overhead cost pool. Overhead absorbed is the amount of overhead allocated to products and services.
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
OCTOBER 22, 2023
Related Courses Investor Relations Guidebook Public Company Accounting and Finance What is Cockroach Theory? The cockroach theory states that unexpected negative news from a business is probably an indicator that there is more negative news that has not yet been revealed. The name is derived from the concept that the visible presence of one cockroach likely indicates the presence of many more that have not yet been found.
Accounting Tools
OCTOBER 22, 2023
Related Courses Payables Management What is the Net Method of Recording Accounts Payable? Under the net method of recording accounts payable , supplier invoices are recorded at the amount that will be paid after any early payment discounts have been applied. This differs from the standard approach, under which the full amount of each supplier invoice is initially recorded, with any early payment discounts recorded only when payment is eventually made.
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