Wed.Oct 25, 2023

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Tax Strategy: Year-end 2023 tax planning

Accounting Today

In spite of the lack of new tax legislation so far this year, taxpayers and tax preparers have plenty to focus on in preparing 2023 returns.

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Winning Solution for BPOs: NetSuite BPO Program

Insightful Accountant

If you are a BPO or CAAS provider struggling with your current desktop or cloud accounting systems to support all of your clients, it might be time to look at NetSuite.

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Boomer's Blueprint: Elevating the client experience

Accounting Today

A firm's strength lies in its dedicated team of professionals committed to ensuring client satisfaction, regulatory compliance, and streamlined operations.

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Interim financial statements definition

Accounting Tools

Related Courses The Income Statement Public Company Accounting and Finance What are Interim Financial Statements? Interim financial statements are financial statements that cover a period of less than one year. They are used to convey information about the performance of the issuing entity prior to the end of the normal reporting year, and so are closely followed by investors.

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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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EY member firm faces inquiry by Indian regulator over Adani audits

Accounting Today

The NFRA has requested files and communications related to S.R. Batliboi's audits on some companies going as far back as 2014, sources said.

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Hedge funds and how they work

Accounting Tools

Related Courses Accounting for Hedge Funds Corporate Cash Management Treasurer's Guidebook A hedge fund pools the money of contributing investors and tries to achieve above-market returns through a wide variety of investment strategies. Larger investors are attracted to the higher returns advertised by hedge funds, though actual returns are not necessarily better than the average market rate of return.

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Attribute sampling definition

Accounting Tools

Related Courses Guide to Audit Sampling How to Conduct an Audit Engagement What is Attribute Sampling? Attribute sampling involves selecting a small number of transactions and making assumptions about how their characteristics represent the full population of which the selected items are a part. The concept is frequently used by auditors to test a population for certain characteristics, such as the presence of an authorizing signature or approval stamp on a document.

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NetSuite beefs up AI capabilities

Accounting Today

While marking its 25th anniversary at its annual user conference, the accounting software vendor announced a number of new products and capabilities.

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Accounting breakeven point definition

Accounting Tools

Related Courses Financial Analysis The Interpretation of Financial Statements What is the Accounting Breakeven Point? The accounting breakeven point is the sales level at which a business generates exactly zero profits , given a certain amount of fixed costs that it must pay for in each period. This concept is used to model the financial structure of a business.

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Newest board member sworn in at PCAOB

Accounting Today

George Botic succeeds the commission's longest-serving member, Duane DesParte, whose second term ended Tuesday.

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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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Reserve accounting

Accounting Tools

Related Courses Bookkeeping Guidebook How to Audit Equity New Controller Guidebook What is the Accounting for Reserves? A reserve is profits that have been appropriated for a particular purpose. Reserves are sometimes set up to purchase fixed assets , pay an expected legal settlement, pay bonuses, pay off debt , pay for repairs and maintenance, and so forth.

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Vendor Spotlight: Infinite Group Inc.

Accounting Today

In this Vendor Spotlight we talk to Andrew Hoyen, CEO of cybersecurity solutions provider Infinite Group Inc.

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Payroll procedure

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management How to Process Payroll The processing of payroll can produce errors in several places, which calls for a detailed process flow that also incorporates several controls. This procedure can be used to ensure that payroll is handled consistently on a repetitive basis.

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CPA.com releases generative AI toolkit

Accounting Today

CPA.com, in light of the technology's sudden popularity, has released a set of resources for accountants to educate themselves on artificial intelligence and assess its risks and opportunities.

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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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A 10-Step Checklist for Starting a Bookkeeping Business

Jetpack Workflow

You’re an expert bookkeeper ready, willing, and able to help other businesses keep their accounts in balance. However, before you begin tracking client transactions, you need to build the foundation of your own bookkeeping business. That requires several steps, including filing the proper permits, calculating your rates, and attracting your first clients.

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What do young accountants want to do with their lives?

Accounting Today

Nowadays a career in accounting requires more decisions and more self-knowledge — and more skillsets — than ever before.

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Small Business Financial Health Check

Bookkeeping Express

As a small business owner, you’re likely accustomed to wearing many hats, from managing day-to-day operations to handling customer inquiries. With so much on your plate, it’s easy to overlook one critical aspect of your business – its financial health. Regularly assessing your small business’s financial well-being is essential for long-term success.

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3 Ways to Reduce Latency in AWS S3 with Performance Tuning

Economize

Performance tuning in AWS S3 is a critical aspect that enterprises need to address to ensure that their cloud storage operates efficiently and effectively. S3, known for its scalability and reliability, often faces challenges regarding latency, which can impede the swift access and processing of data.

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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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Is My Business Subject to Sales Tax or Use Tax?

CSI Accounting & Payroll

As a business owner, taxes can be confusing. Unfortunately, for nearly all businesses, taxes are a year-round activity - usually when it comes to sales and use tax. At CSI Accounting & Payroll, we’ve worked with small business taxes since the 1960s. Since then, we’ve heard a lot of questions about sales and use tax from small business owners, including: What is sales tax?

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Digital Financial Inclusion

Tipalti

Fintech innovations are a game-changer for financial inclusion in America. Traditional banking can be inaccessible and costly for many people, particularly people from minority groups.

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4 Wow Moments to Level Up Your Onboarding Process

Future Firm

A good onboarding process can be a significant factor in retaining clients. Consider these 4 tactics to leave a lasting impression. The post 4 Wow Moments to Level Up Your Onboarding Process appeared first on Future Firm.

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From Auditor to Google: How This Accountant Landed His Dream Job

Blake Oliver

Have you ever dreamed of working at a top tech company like Google? It may seem out of reach, but my latest podcast guest Mike Manalac, CPA is living proof that it's possible. Mike took a leap of faith by quitting his public accounting job and moving across the country to San Francisco with no job lined up. After countless interviews and rejections, he finally cracked the code and landed his "dream job" at Google.

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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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Working off the books definition

Accounting Tools

Related Courses Form 1099 Compliance Payroll Management What is Working Off the Books? The concept of working off the books means that a person is being compensated in cash for services performed, but the payments are not recorded on the books of the employing business. The business offers this sort of arrangement in order to avoid paying any payroll taxes , as well as to avoid paying for workers' compensation insurance and any of the benefits normally offered to its employees, including medical

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Member Spotlight: Test Your Credit Knowledge with Certifications

NACM

From risk mitigation to financial analysis, credit professionals are constantly learning. And no matter how long they've been in the credit industry, there's always something new to learn. By earning a designation through NACM's Professional Certification Program, credit professionals are not only tested on their credit knowledge, but they are grow.

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Direct allocation method definition

Accounting Tools

Related Courses Activity-Based Costing Activity-Based Management Cost Accounting Fundamentals What is the Direct Allocation Method? The direct allocation method is a technique for charging the cost of service departments to other parts of a business. This concept is used to fully load operating departments with those overhead costs for which they are responsible.

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QuickBooks Launches Bill Pay | NetSuite Adds AI | How Financial Fraud Will Fill CPA Pipeline

Cloud Accounting Podcast

Blake and David discuss the factors that impact accountant salaries, including location, experience, and industry, and highlight the correlation between accounting salaries and overall economic conditions, noting that periods of economic growth can lead to higher salaries. They also take a look at the partnership between PwC and OpenAI and speculate on the potential impact of AI on accounting consulting and fraud detection.

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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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Cost incurred definition

Accounting Tools

Related Courses Cost Accounting Fundamentals What is Cost Incurred? A cost incurred is a cost for which a business has become liable, even if it has not yet received an invoice from a supplier as documentation of the cost. This is an accrual accounting concept. It is not used under the cash basis of accounting. Example of a Cost Incurred A manufacturing operation uses a large amount of electricity during the month of January, after which the local power company bills it $25,000 for the electrici

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Yield curve definition

Accounting Tools

Related Courses Economic Indicators Investing Guidebook What is a Yield Curve? A yield curve is a graphical representation of the yield on a particular type of bond , based on its maturity date. A normal yield curve shows a gradual increase in yield for bonds that mature further in the future, since it is riskier to hold the bonds for a longer period of time.

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Breakup fee definition

Accounting Tools

Related Courses Divestitures and Spin-Offs Mergers and Acquisitions What is a Breakup Fee? A breakup fee is inserted into an acquisition agreement to prevent the seller from backing out of the deal. If the seller does so, it must pay the breakup fee to the acquirer. A seller might back out of a deal in order to accept a higher offer from another acquirer, or to go public.

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Compliance cost definition

Accounting Tools

Related Courses Cost Accounting Fundamentals Public Company Accounting and Finance What is Compliance Cost? Compliance cost is the total cost incurred by a firm to comply with applicable regulations. These regulations may cover such areas as tax reporting, environmental topics, transport, and finances. Compliance costs can include the cost of the systems needed to collect information for compliance reporting, the cost of the personnel needed to construct and monitor the compliance systems, and t

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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.