Tue.Sep 19, 2023

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PCAOB proposes to toughen rule for auditor liability for negligence

Accounting Today

The Public Company Accounting Oversight Board issued a proposal to amend its rule for an individual auditor's or audit firm's contributory liability for knowingly or recklessly contributing to violations.

Auditing 305
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QuickBooks Pro vs. Pro Plus – What are the Differences?

Ace Cloud Hosting

When it comes to managing your business finances, QuickBooks is a name that needs no introduction. Yet, within the QuickBooks ecosystem, there are versions catering to specific business needs. Among.

professionals

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ISSB and PwC see broader move to int'l sustainability standards

Accounting Today

Accounting firms are getting more involved in sustainability reporting and assurance around the world, with recent global standards and record-setting temperatures spurring calls for action.

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Accounting Websites: 43 Examples for Modern Firms

Future Firm

A well-designed website stands as a pivotal factor in converting visitors into invaluable leads. In this post, we’ll discuss key considerations for effective accounting website design and showcase a variety of inspiring examples that can guide your own creative approach. Let’s go! Table of Contents The Do’s and Don’ts of Accounting Website Design The Top 43 Examples of Accounting Websites The Do’s and Dont’s of Accounting Website Design To give you an idea of

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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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The Leadership Files: Avani Desai 

Accounting Today

For the head of Top 100 Firm Schellman, leadership starts with self-aware people who don't hesitate to challenge the status quo — or their leader.

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Operational audit definition

Accounting Tools

Related Courses How to Conduct an Audit Engagement What is an Operational Audit? An operational audit is an examination of the manner in which an organization conducts business, with the objective of pointing out improvements that will increase its efficiency and effectiveness. This type of audit is substantially different from a normal audit , where the objective is to examine the adequacy of controls and to evaluate the fairness of presentation of the financial statements.

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Sorry Folks, my bet didn't play out.

Insightful Accountant

Murph bet on Intuit releasing QuickBooks Desktop 2024 by Sept. 20th, and now he has 'egg on his face', not to mention a bunch of bookies to pay off, and apologies to you.

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FTX sues Bankman-Fried's parents to claw back funds

Accounting Today

The managers of the bankrupt crypto exchange sued the parents of its co-founder and former CEO to "recover. fraudulently transferred and misappropriated funds.

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Small Businesses Fear AI Development, Adoption Are Outpacing Regulation

Insightful Accountant

A recent Xero survey shows there is a call among small business owners for greater data protection and education, with 77% believing AI will have an impact on their business in the next five years

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Storm victims in three states face October deadline

Accounting Today

The IRS is reminding some disaster-impacted taxpayers in California, Alabama and Georgia that they have payments due Oct. 16.

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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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Future Forward 2023: Transforming Advisory with Real-time AI Insights

Insightful Accountant

RLJ Financial Services' Caleb Jenkins explains the power of real-time AI insights to preempt issues, spot trends and provide invaluable, forward-looking counsel. Make sure you sign up today.

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Big boosts for energy-efficient homes in the IRA

Accounting Today

Tax credits for home improvements in the Inflation Reduction Act may prove a major boon for taxpayers.

Tax 202
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The Guide to Validating Signatures in PDF Documents

Nanonets

In an era where the exchange of information and documents is increasingly digitized, the use of electronic signatures in PDF documents has become a ubiquitous practice. Whether it's a contract, a financial agreement, or a legal document, validating signatures in PDFs is important. It's not just about the convenience of a digital John Hancock; it's about ensuring the authenticity, integrity, and trustworthiness of those virtual signatures.

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Yellen is running out of time to make a difference on climate

Accounting Today

Anxiety is growing over the pace of work to develop critical guidance on a slew of clean energy tax credits in the Inflation Reduction Act.

Tax 171
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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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How Long Will I Work With CSI? How a One-Year Accounting Contract Provides Long-Term Success

CSI Accounting & Payroll

You’re ready to sign a proposal with CSI Accounting & Payroll and get this show on the road! But wait - why do you have to commit to a full year for accounting? That’s a long time to be stuck in a contract if you’re unhappy. CSI Accounting & Payroll has worked with thousands of satisfied small business owners for more than 50 years, but we still know how scary it can be for anyone to sign a contract.

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LBMC names next CEO

Accounting Today

Jim Meade will succeed Jeff Drummonds at the Tennessee-based Top 100 Firm in 2024.

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Why Did It Take a 267% Overrun to Pause the ERC?

Blake Oliver

The most shocking thing about the Employee Retention Credit (ERC) is how long it took to stop after it started going wildly over budget. In 2021, the Congressional Budget Office estimated that ERC would cost $86 billion. (That's after changes that increased it from the original $55 billion.) By March 2023, the IRS paid out over $150 billion. Then, last week, we found out it paid out $230 billion.

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Riches in Niches: Influencing influencers

Accounting Today

Nate Coughran of Cookie Finance helps social media stars navigate their finances.

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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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What If: Payroll Can't Find Intuit Server?

Insightful Accountant

Did you know the security ID can change in a Company file when you restore a Company Backup file?

Payroll 65
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Valuing startups' complex equity structures

Accounting Today

Stock compensation opens up new challenges from a GAAP perspective.

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QuickBooks Pro vs. Pro Plus – What are the Differences?

Ace Cloud Hosting

When it comes to managing your business finances, QuickBooks is a name that needs no introduction. Yet, within the QuickBooks ecosystem, there are versions catering to specific business needs. Among.

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In the blogs: Money, money, money 

Accounting Today

Possible staffing remedies; declared dead; Moore moves; 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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Ordinary income definition

Accounting Tools

What is Ordinary Income? For an individual, ordinary income is most earnings other than long-term capital gains. These earnings include wages and salaries , as well as bonuses, tips, commissions , interest income , and short-term capital gains. Ordinary income is taxed at the highest tax rate. This type of income can be offset with standard tax deductions to arrive at taxable income for the individual.

Tax 40
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Examining the Build-to-Rent Phenomenon 

AvidXchange

Build-to-rent (BTR) is a hot topic in real estate today. Many adjacent industries, including property management, community association management, construction and lending, are starting to see related impacts as well. AvidXchange recently hosted a webinar on build-to-rent trends , “The Build-to-Rent Revolution: Unlocking the Future of Housing.” Panelists included: Chelsa Fenner, Regional Vice President, Community Association Management Services (CAMS) John Azar, Founder and Managing Part

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Organizational costs definition

Accounting Tools

What are Organizational Costs? Organizational costs are those costs incurred that relate to the setup of a business. Organizational costs include the following: The survey cost associated with a review of potential markets Training employees in their new tasks Legal costs to create bylaws and articles of incorporation (for a corporation ) Legal costs to create a partnership agreement (for a partnership ) Filing fees with the applicable state government Cost of organizational meetings Costs not c

Tax 40
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Outstanding deposit definition

Accounting Tools

Related Courses Bank Reconciliation Essentials Bookkeeping Guidebook How to Audit Cash What is an Outstanding Deposit? An outstanding deposit is that amount of cash recorded by the receiving entity, but which has not yet been recorded by its bank. All outstanding deposits are listed as reconciling items on the periodic bank reconciliation prepared by the receiving entity.

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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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Overdraft definition

Accounting Tools

Related Courses Corporate Cash Management Treasurer's Guidebook What is an Overdraft? An overdraft is a short-term line of credit granted by a bank to an account holder when checks presented against the account exceed the amount of cash available in the account. An account usually has to be designated as having overdraft protection before this feature will be operable.

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Outside supplier definition

Accounting Tools

Related Courses Contract Management How to Audit Procurement Purchasing Guidebook What is an Outside Supplier? An outside supplier is a third party that provides goods or services to an organization. The term is sometimes used to differentiate between outside entities and internal service departments.

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Ordinary repairs definition

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What are Ordinary Repairs? Ordinary repairs are expenditures for repairs that do not prolong the life of an asset or increase its usefulness. These expenditures are charged to expense as incurred. If they had instead met one or both of the preceding criteria, repairs would instead be capitalized and charged to expense over time.

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Office equipment expense definition

Accounting Tools

What is Office Equipment Expense? Office equipment expense is the cost incurred to maintain and operate office equipment. This cost is charged to expense as incurred. Office equipment expense is usually classified within the selling, general and administrative grouping of expenses in the income statement.

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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.