Mon.Mar 04, 2024

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Accounting firm sued over Ponzi scheme

Accounting Today

Investors have filed a lawsuit against an accounting firm alleging it helped a client maintain a Ponzi scheme involving cash advances that led to the loss of millions of dollars.

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Facing challenges in your small business? XSBI data shows you’re not alone

Xero

The latest Xero Small Business Insights (XSBI) data shows just how challenging conditions became for small businesses, and their customers, towards the end of 2023. We’ve summarised the major trends and also have some tips for you on how to navigate the current headwinds. Despite improvements over the past year, inflation (or cost-of-living) pressures remained in late 2023.

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KPMG fined £1.5M over Saatchi audit failings

Accounting Today

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

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Insightful Accountant Announces Inaugural Advisory Panel

Insightful Accountant

We are excited to announce the members of Insightful Accountant’s inaugural Advisor Panel. The primary purpose of the panel is to help us stay “in touch” with the audience we serve and to continue to provide the content you, our audience, want.

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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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Art of Accounting: Everyone will be leaving you

Accounting Today

When someone leaves, they need to be replaced and with that comes orientation, training, introduction to your systems and procedures and to your culture.

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Val Steed on A CPA's Perspective on Accounting Technology & Future Challenges

Insightful Accountant

Gary and Val take a deep dive into the Zoho products, why accounting professionals may want to consider it for their practice and/or their clients (here's a hint - low cost, high value, and a broad range of products.) Take a look at this episode!

CPA 101

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2024 Domestic ProAdvisor Voting is Underway

Insightful Accountant

Voting for the 2024 Domestic (US & Its Territories) ProAdvisor Awards has begun and will continue through April 2, 2024.

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Turning up the temperature on auditors

Accounting Today

A roundup of the flood of sanctions, fines and penalties issued over the past year or so by the PCAOB.

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Leap Day Tax Consequences

Insightful Accountant

Last week our calendars all marked a unique day that only comes about once every four years. Leap Day, February 29th, this day intends to sync the calendar with the solar year. It still has its affects tax planning, so discuss with clients.

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Accountants in the hot seat

Accounting Today

The regulatory environment around accounting is getting stricter, as the IRS, the SEC and the PCAOB crack down.

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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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Important Changes to Employment Pass (EP) Requirements for 2025

Counto

Important Changes to Employment Pass (EP) Requirements for 2025 Starting January 1, 2025, significant adjustments to the Employment Pass (EP) criteria will take effect, impacting both employers and foreigners alike. As an integral part of Singapore’s ongoing efforts to prioritise local talent and ensure fair treatment in the workforce, these changes aim to enhance opportunities for local professionals while maintaining the city-state’s attractiveness to global talent.

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Growth factors for accounting firms

Accounting Today

What goes into the recipe for accounting firm success? Randy Crabtree goes over the ingredients, and how best to combine them.

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How To Calculate Accounts Receivable Collection Period

Gaviti

Businesses often rely on cash flow that they haven’t yet received. Net income and sales operate on a delayed schedule, and companies crunch the numbers expecting to settle invoices and get paid sometime in the future. Once an invoice hits accounts receivable (A/R), it enters what’s called the average collection period. Other common names include “days sales in accounts receivable,” “average receivables collection period,” or “ days sales outstanding (DSO).

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ADM delays annual report, warns on internal controls

Accounting Today

The Chicago-based agricultural commodity trader said the issue with internal controls relates to the way it reports sales between segments.

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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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7 Ways AI Can Streamline Expense Management

Nanonets

Managing expenses often proves to be a Herculean task for many organizations. Traditional expense management systems are often fraught with challenges: manual data entry is time-consuming and prone to errors; fraudulent claims can slip through the cracks; and ensuring compliance with company policies and tax laws can feel like navigating a minefield.

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Pinion launches global network

Accounting Today

The Top 100 Firm also announced the first three member firms of the network, which will focus on food and agriculture clients.

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How to streamline your Expense Reimbursement process

Nanonets

Expense reimbursement is a fundamental aspect of business operations, encompassing the process by which employees are paid back for expenses they've incurred on behalf of the company. These expenses often include travel, meals, accommodation, and office supplies—costs that are essential for carrying out business activities but are initially borne by employees.

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M&A Watch: Jackson Thornton, HHM expand

Accounting Today

Jackson Thornton acquired MST CPAs & Advisors; and HHM CPAs merged in Bizzell, Neff & Galloway.

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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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Lyft's Big Financial Typo0

Blake Oliver

In our latest episode of The Accounting Podcast, David and I uncover the startling typo that sent Lyft's stock on an unexpected journey. We also show how AI is revolutionizing customer service, offer a fresh take on the 150-hour rule debate, and provide insights into the evolving landscape of commercial real estate taxes given the rise of remote work and decline of offices.

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The Future of Tax Compliance: Counto at #SFFS Fair 2024

Counto

The Future of Tax Compliance: Counto at #SFFS Fair 2024 For the second consecutive year, we were invited by the Inland Revenue Authority of Singapore (IRAS) to showcase our revolutionary AI-powered tax solutions. At the fair, attendees were treated to firsthand demonstrations of AI.TaxAssist and AI.GST. Both software seamlessly integrate with IRAS APIs, enabling one-click filing and seamless workflow management for tax practices.

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Top 10 Legal OCR Software in 2024

Nanonets

Lawyers often grapple with many documents in the dynamic legal world where every second counts, and information is the key to success. The sheer volume of paperwork, from contracts and court pleadings to discovery documents and case research, can be overwhelming. The legal landscape is evolving rapidly, and the need for efficient document management solutions has become pressing.

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Artificial Intelligence in Procurement

Tipalti

Dive into the future of procurement with our comprehensive guide to AI in procurement. Explore cutting-edge solutions and strategies for smarter, efficient sourcing.

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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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SSI Claims Direct Now Available

SSI Healthcare Rev Cycle Solutions

SSI Claims Direct Now Available SSI announces Claims Direct, a streamlined solution for those seeking a reliable clearinghouse alternative with a fast implementation timeframe. Read More The SSI Group, LLC (SSI) Announces Launch of Automated End-to-End Prior Authorization Solution The SSI Group, LLC (SSI), a leading provider of revenue cycle management (RCM) solutions, today announced the launch of a turnkey, end-to-end electronic prior authorization solution for healthcare providers that connec

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Supplier Enablement

Tipalti

Discover best ways to streamline processes, enhance collaboration, and drive efficiency in your supply chain management. Empower your suppliers and optimize relationships for mutual success.

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Top 10 Honeybook Alternatives In 2024 For Project Management

Invoicera

Summary Honeybook doesn’t align perfectly with your business needs? Let us help you find a suitable alternative for your company’s operational efficiency and success. This blog post delves into top Honeybook alternatives in 2024, providing a comprehensive guide for businesses seeking the best fit for their unique business requirements. Highlights of the Blog: Insightful Overview of Honeybook: Understand what Honeybook offers and why it might not be the ideal fit for every business.

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FPA Software Solutions

Tipalti

FP&A software helps financial teams manage budgets, more accurately forecast spending, and stay on track to meet long-term goals. Learn about the best FP&A software available today.

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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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45 Business Expense Categories for Businesses and Startups

Nanonets

Business expense categories are a systematic classification of costs incurred during the operation of a business, designed to organize and track financial outflows for purposes such as tax preparation, budgeting, and financial analysis. This categorization helps businesses manage their finances more efficiently by providing insights into spending patterns and identifying potential tax deductions.

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What is Revenue Cycle in Healthcare: Understanding Rev Cycle Management

SSI Healthcare Rev Cycle Solutions

What is Revenue Cycle in Healthcare: Understanding Rev Cycle Management Home / March 4, 2024 Author: Kristy Boldt, Sr. Marketing Director at The SSI Group, LLC When a patient visits a doctor or a hospital, there’s a whole system in place that ensures the services received are billed and paid for. This system is known as revenue cycle management (RCM), and it’s crucial for keeping healthcare providers operating smoothly.

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Ex-Trump CFO Weisselberg pleads guilty to perjury in NY case

Accounting Today

The development comes as Trump is appealing his loss at the non-jury trial, which resulted in a $454 million judgment against him and his company for inflating the value of his assets by billions of dollars a year for more than a decade.