Fri.Sep 29, 2023

article thumbnail

IRS expands features in Tax Pro Accounts

Accounting Today

The Internal Revenue Service is allowing tax practitioners to see their client's tax information, including balance due amounts, as well as withdraw from their active authorizations online in real time.

Tax 345
article thumbnail

Getting Active with the ADC Summer Challenge | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 2 of our NEW podcast, Beyond the Books , is now live and ready for your listening pleasure.

278
278
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How inflation affects accounting and finance teams

Accounting Today

When inflation is high, industry professionals turn to inflation accounting strategies to increase accuracy in financial analysis and reporting.

article thumbnail

Listen Up, Young Accountants: Career Advice For Sticking Out Those Early Years

Blake Oliver

Ed. note: enjoy some wisdom from a profession OG in this guest post from Blake Oliver. TLDR: Patience, intellectual curiosity, soft skills, and time management will take you far. Most importantly, advocate for yourself. Different generations in the workforce often struggle to understand each other. But experts say one thing that young professionals can do, including young accountants, is to be more patient.

article thumbnail

Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

article thumbnail

SEC hits Prager Metis with hundreds of audit violations

Accounting Today

The commission charged the Top 100 Firm with violating auditor independence rules on many occasions.

Auditing 306
article thumbnail

FundThrough places No, 166 on The Globe and Mail’s fifth-annual ranking of Canada’s Top Growing Companies.

FundThrough

Toronto, ON – September 29, 2023 FundThrough is pleased to announce it placed No. 166 on the 2023 Report on Business ranking of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. FundThrough earned its spot with three-year growth of 291%. With FundThrough’s technology-powered invoice funding platform, businesses control […] The post FundThrough places No, 166 on The Globe and Mail’s fifth-annual ranking of Canada̵

Invoicing 105

More Trending

article thumbnail

Advance from customer definition

Accounting Tools

What is an Advance from Customer? Advance from customer is a liability account , in which is stored all payments from customers for goods or services that have not yet been delivered. Once the related goods or services have been delivered, the amount in this account is shifted to a revenue account. Classification of the Advance from Customer Account The advance from customer account is typically considered a short-term liability account, since the amounts stored in it are usually settled within

article thumbnail

IRS offers tax relief on money market redemptions

Accounting Today

The Internal Revenue Service issued guidance Friday saying a redemption of shares in a money market fund won't be treated as part of a wash sale, which would subject it to taxes.

Tax 299
article thumbnail

Cost management definition

Accounting Tools

Related Courses Cost Management Guidebook What is Cost Management? Cost management is the control of actual or forecasted costs incurred by a business. It is essential for a company to employ proper cost management, or else it will have difficulty consistently generating a profit. This concept is best applied as a formalized process, using some or all of the following steps.

article thumbnail

Developing a CPA firm AI policy

Accounting Today

The sooner you take an active approach to artificial intelligence, the less overwhelmed you'll feel about it.

CPA 246
article thumbnail

The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

article thumbnail

Ratio analysis definition

Accounting Tools

Related Courses Business Ratios Guidebook Guide to Analytical Procedures The Interpretation of Financial Statements What is Ratio Analysis? Ratio analysis is the comparison of line items in the financial statements of a business. Ratio analysis is used to evaluate a number of issues with an entity, such as its liquidity , efficiency of operations, and profitability.

article thumbnail

On the move: Brown Schultz Sheridan & Fritz raises $3K for local United Way

Accounting Today

NJCPA launches 14th annual food drive; Mazars elects five new partners and principals; and more news from across the profession.

235
235
article thumbnail

What’s New at Xero in the United States

Cloud Accounting Podcast

Ben Richmond, Xero's Country Manager for the United States, joins us to discuss new Xero product features like improved inventory management and AI integration, plans for the upcoming XeroCon 2024 conference, the future of the accounting profession, and Xero's sponsorship of the FIFA Women's World Cup. Ben provides an insider's look into Xero's roadmap and vision for transforming accounting with technology. (00:00) - Intro and XeroCon Conference Plans (02:15) - New Xero Product Features (07:15)

XERO 69
article thumbnail

Deloitte partners paid over £1M despite slowdown

Accounting Today

The amount shared by the accounting firm's 1,300 U.K. equity partners is broadly the same as last year.

article thumbnail

Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

article thumbnail

He Looks Like a Rapper But Runs a $2M Accounting Firm

Blake Oliver

You'd never guess it by his rapper appearance, but my recent podcast guest, Scott Scarano , is a highly successful accounting firm owner. When I first met Scott, I honestly did not take him for a firm owner. Between the hat, chain, and lack of a typical "accountant look," I assumed he was just another of Michael Ly's eclectic connections. But I was so, so wrong.

article thumbnail

Tech News: Aiwyn unveils 'Relay'

Accounting Today

Plus, CPACharge rolls out automated invoicing feature; and other news and updates from the accounting technology world.

Invoicing 189
article thumbnail

Tax Preparation Workflow: A 3-Step Guide (Diagram Included)

Jetpack Workflow

Scaling your firm and getting more clients can result in a busy tax season, which is good for your top line. However, without the proper workflow structures to manage your expanding client base, you can wind up with constant bottlenecks and a hectic start to the year. For many CPA firms, tax preparers, and accountants, creating a detailed tax preparation workflow helps keep their teams on track while also letting them uncover new opportunities for enhancing client satisfaction.

Tax 59
article thumbnail

Ted on Tech: Itsy-bitsy PCs

Accounting Today

Small computers can help when working in smaller office spaces.

article thumbnail

8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

article thumbnail

Soft Skills, Not Spreadsheets: Keys to a Successful Accounting Career

Earmark Accounting Podcast

Jerry Maginnis has over 40 years of experience in the accounting profession. In this episode, he shares his journey from college student to managing partner at KPMG, offering advice to young accountants on how to build a successful career. Jerry emphasizes the importance of soft skills like communication, empathy, and relationship-building, arguing that technical expertise alone is not enough.

article thumbnail

Google App Engine Flexible vs. Standard : Pricing & Features

Economize

When developing and deploying applications on Google Cloud, one of the critical decisions you’ll face is choosing the right platform for hosting your applications. Google Cloud offers two primary options for hosting web applications: App Engine Standard and App Engine Flexible. Each has its strengths and is suitable for specific use cases.

article thumbnail

Unleashing Innovation at Becker’s 2023 Health IT + Digital Health + RCM Annual Meeting

SSI Healthcare Rev Cycle Solutions

Unleashing Innovation at Becker’s 2023 Health IT + Digital Health + RCM Annual Meeting Home / September 20, 2023 The Windy City is about to get a gust of transformative ideas as Becker’s 2023 Health IT + Digital Health + RCM Annual Meeting blows into Chicago. And if you’re passionate about ensuring the success of your healthcare organization in these fast-paced times, this is the place to be!

article thumbnail

Guide to Streamline Vendor Payments

Nanonets

According to the American Productivity and Quality Center (APQC), the world’s top performing organizations receive an invoice and schedule payment in 2.8 days or faster. But bottom-performing organizations take a week or more, and this metric—the cycle time between receiving invoices and making payments—is reflective of how efficient a company’s Accounts Payable (AP) process is.

article thumbnail

How to Modernize Manufacturing Without Losing Control

Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives

Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri

article thumbnail

How to Get Your Invoices Paid Sooner: Three Popular Routes

Outsourced Bookeeping

Maintaining a healthy cash flow is imperative for every competitive business firm. Working with a healthy capital amount allows a business to invest more efficiently and also clear out debts and payments on time. However, achieving this aspect can be more complicated than it seems. Operating in the present commercial space, there is always an issue with delayed payment that cripples a business’ ability to achieve its financial goals.

article thumbnail

Top 6 Accounts Payable KPIs to measure

Nanonets

Enhance your organisational efficacy with practical application of the right key performance indicators!  Peter Drucker once said, “If you don’t measure it, you can’t improve it.”  Tracking the performance of the Accounts Payable department of your company requires way more effort than just tracking the number of invoices that are past their due date!

article thumbnail

Canopy Accounting Software: An In-Depth Review

Future Firm

Many have relied on Canopy as their accounting project management solution to streamline their firm’s financial operations. In this review, let’s find out what sets Canopy apart from the others, spotlighting its functionalities, benefits, drawbacks, and more. Let’s get into it! Table of Contents What is Canopy Accounting Software? Canopy Accounting Software Features Canopy Accounting Software Pricing Canopy Accounting Software Alternatives What is Canopy Accounting Software?

article thumbnail

The accountant and the bikers

Accounting Fun

An accountant is sitting alone in a country pub sipping a beer and reviewing some accounts which he has out on the table in front of him. A bunch of bikers roar up to the pub and when then go inside they immediately begin harassing the accountant. He tries to ignore them as they insult him and make fun of his glasses, the accounts and the fact that he isn't responding to their taunts.

article thumbnail

Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

article thumbnail

Account title definition

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is an Account Title? An account title is the unique name assigned to an account in an accounting system. An account title is essential when the accounting staff needs to identify an account, since the title conveys the purpose of the account. The other unique identifier, the numeric account code, may incorporate some identification logic, but is much more difficult to associate with a specific account.

article thumbnail

ChatGPT: The Credit Manager’s Assistant

NACM

? On today's episode of Extra Credit: A recent eNews poll revealed that one quarter of credit professionals use ChatGPT in some capacity for their work. Hear about the advantages and disadvantages of using ChatGPT in the credit department.⭐ Hear from Justin Cowart; Elliot Jenneman, Alejandro Ojeda-Nonzioli; and Marty Smith!

5
article thumbnail

The difference between unearned revenue and unrecorded revenue

Accounting Tools

Related Courses Revenue Recognition Unearned revenue is a customer payment for which no goods or services have yet been provided. Unrecorded revenue is a sale that has been earned, but for which no record has yet been made in a firm’s accounting system. This means that the following differences between unearned revenue and unrecorded revenue are present: Unearned revenue has been recorded in the accounting system (as a receipt of cash and an offsetting liability ), while unrecorded revenue has n

article thumbnail

Trump tariff proposal abandons tax-cutting legacy, Pence says

Accounting Today

The former vice president said his former running mate's proposal for a 10% universal tariff would cost U.S. jobs and worsen inflation for American families.

Tax 189
article thumbnail

How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.