Thu.Apr 27, 2023

article thumbnail

Generative AI: considerations for small businesses

Xero

The Xero Responsible Data Use Advisory Council recently held its seventh meeting, with a focus on the extraordinary developments in the field of generative AI, and the myriad potential applications for small business. The council is made up of myself, Laura Jackson of Popcorn Shed (business owner), Maribel Lopez of Lopez Research (technology analyst), Wyndi and Eli Tagi of WE Mana (advisors), Aaron Wittman of XBert (app developer), Anna Johnston of Salinger Privacy (privacy compliance speciali

XERO 278
article thumbnail

AI in Accounts Payable: Revolutionizing Invoice Processing

Ascend Software blog

The world of accounts payable (AP) is undergoing a significant transformation, with artificial intelligence (AI) and machine learning (ML) technologies playing a crucial role in this evolution. Cutting-edge technologies are reshaping accounts payable automation. We will discuss intelligent invoice processing, AP workflow automation, and AI-driven AP solutions.

professionals

Sign Up for our Newsletter

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

article thumbnail

Oh what a night! 2023 Xero Awards UK & Ireland

Xero

The annual Xero Awards is a particularly special night for us at Xero. It’s a chance for us to show our appreciation and admiration to the many incredible accounting, bookkeeping, and app partners in our community. This year’s awards evening, which took place at Ministry Venues, Elephant & Castle, showcased the achievements of the “rockstars” of the accounting world.

XERO 264
article thumbnail

AccountingDepartment.com Attends 2023 EOS Conference

Accounting Department

Last week, AccountingDepartment.com Business Development Representatives, Shawn Marcum, and Luke Backus attended the 2023 Entrepreneurial Operating System (EOS) Conference in Indianapolis, IN.

232
232
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

FUTA tax definition

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management What is the FUTA Tax? FUTA is an unemployment tax that is charged to employers. The FUTA acronym is short for the Federal Unemployment Tax Act. The amounts paid in by employers go into a federal fund that pays the cost of administering the unemployment insurance and job service programs in all states.

Tax 75
article thumbnail

A CFO Guide to Accounting Automation: Impacts, Benefits, and Tips

Outsourced Bookeeping

Accounting automation is quickly becoming an essential part of successful financial management. By automating accounts payable and accounts receivable processes, businesses can reduce costs, decrease errors, and improve the accuracy of their financial reporting. A CFO Guide to Accounting Automation: Impacts, Benefits, and Tips In this guide, we will explore the potential impacts of accounting automation , the benefits it can offer to organizations of any size, and tips for making the most of aut

More Trending

article thumbnail

AICPA Accepting Applications for 2023 Leadership Academy

Insightful Accountant

Designed to strengthen and expand the leadership skills of promising young professionals, the Academy seeks to train the next generation of leaders.

52
article thumbnail

The One Thing I Always Need To Remind Firms To Do

Future Firm

Are you tired of working too hard for too little? In this episode, we’re going to talk about a common mistake that many businesses make – underpricing. Let’s explore why some firms fall into this trap and how to avoid it. Listen below. 0:34 – In this episode, we delve into why some firms struggle with underpricing and how to avoid it to achieve better results. 1:20 – Good pricing strategies can lead to earning more while spending less time with clients, while poor p

article thumbnail

QuickBooks Online ProAdvisor Recert Underway

Insightful Accountant

The renewal process for the annual QuickBooks Online ProAdvisor Certifications is now underway, and ProAdvisors have until June 30 to get required recertifications.

article thumbnail

What is Azure FinOps and How You Can Adopt It

finout

Table of Contents

FinOps 52
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

Restricted cash definition

Accounting Tools

What is Restricted Cash? Restricted cash is a designation placed on a certain amount of cash by the board of directors. This restriction is intended to keep those funds from being used for general operating activities. Instead, the designated funds are reserved for a specific purpose, such as paying for a constructed asset , a dividend payment, a bond payment, or an anticipated payout resulting from a lawsuit.

article thumbnail

Restatement definition

Accounting Tools

Related Courses Accounting Changes and Error Corrections Public Company Accounting and Finance What is a Restatement? A restatement refers to the revision and re-release of prior financial statements. A restatement is required whenever it is found that prior financial statements contain one or more material misstatements. There are a number of reasons why misstatements occur.

article thumbnail

Retirement of bonds definition

Accounting Tools

Related Courses Accounting for Investments Corporate Finance GAAP Guidebook What is the Retirement of Bonds? The retirement of bonds refers to the repurchase of bonds from investors that had been previously issued. The issuer retires bonds at the scheduled maturity date of the instruments. Or, if the bonds are callable , the issuer has the option to repurchase the bonds earlier; this is another form of retirement.

article thumbnail

Random walk theory definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Investing Guidebook What is the Random Walk Theory? The random walk theory states that prior stock prices are not good predictors of future prices. Instead, stock prices behave in an unpredictable manner. Thus, an investor should not rely upon the trend of prior stock prices to predict future stock prices.

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

Income smoothing definition

Accounting Tools

Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud What is Income Smoothing? Income smoothing is the shifting of revenue and expenses among different reporting periods in order to present the false impression that a business has steady earnings. Management typically engages in income smoothing to increase earnings in periods that would otherwise have unusually low earnings.

article thumbnail

Free cash flow definition

Accounting Tools

Related Courses The Interpretation of Financial Statements Working Capital Management What is Free Cash Flow? Free cash flow is the net change in cash generated by the operations of a business during a reporting period , minus cash outlays for working capital , capital expenditures , and dividends during the same period. This is a strong indicator of the ability of an entity to remain in business, since these cash flows are needed to support operations and pay for ongoing capital expenditures.

article thumbnail

Standstill agreement definition

Accounting Tools

Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Divestitures and Spin-Offs Mergers and Acquisitions What is a Standstill Agreement? A standstill agreement is an agreement between a potential acquirer and a target company , limiting the ability of the acquirer to increase its ownership percentage in the target company.

CPA 40
article thumbnail

The difference between cash flow and funds flow

Accounting Tools

Related Courses The Statement of Cash Flows The Cash Flow Statement Cash flow refers to the current format for reporting the inflows and outflows of cash , while funds flow refers to an outmoded format for reporting a subset of the same information. Cash flow is derived from the statement of cash flows. This statement is required under Generally Accepted Accounting Principles ( GAAP ), and shows the inflows and outflows of cash generated by a business during a reporting period.

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

Supplementary information definition

Accounting Tools

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement What is Supplementary Information? Supplementary information is any information presented in addition to the financial statements that is not necessary to fairly present the financial statements. This information may be presented with the financials or in a separate document.

article thumbnail

Cross price elasticity of demand definition

Accounting Tools

Related Courses Managerial Economics Revenue Management Revenue Recognition What is the Cross Price Elasticity of Demand? Cross price elasticity of demand is a measurement of the change in demand for one product when the price of a different product changes. How to Calculate Cross Price Elasticity of Demand It is calculated as the percentage change in the demand for one product, divided by the percentage change in the price of a different product.

40