Tue.Jul 11, 2023

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Senate panel looks into changing tax treatment of crypto

Accounting Today

Leaders of the Senate Finance Committee are sending an open letter seeking input from experts, stakeholders and interested parties about how to adjust the rules for digital assets.

Tax 246
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Webinar Coming Up! Reducing Accounting Overhead for Long Term Care

Fidesic blog

Is your organization highly mission focused? This webinar is for you. Healthcare, Non-Profits, Dental & Long Term Care professionals, check it out.

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IRS renews cybersecurity push for tax pros

Accounting Today

The service and its Security Summit partners revived their summertime campaign to protect confidential client information against identity theft.

Tax 246
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BILL Balance is the New Way to Pay

Accounting Department

BILL has rolled out BILL balance, a new way to pay vendors!

Billing 130
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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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PCAOB fines CohnReznick $20K for not disclosing proceedings in time

Accounting Today

The board sanctioned the Top 20 Firm for failing to disclose SEC disciplinary proceedings within five months.

Auditing 246
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How to calculate accrued vacation pay

Accounting Tools

Related Courses Human Resources Guidebook Optimal Accounting for Payroll Payroll Management Accrued vacation pay is the amount of vacation time that an employee has earned as per a company's employee benefit policy, but which has not yet been used or paid. This is a liability for the employer. The following discussion of accounting for accrued vacation pay can also be applied to holiday pay.

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Goods and services definition

Accounting Tools

What are Goods and Services? Goods and services are the output of an economic system. Goods are tangible items sold to customers , while services are tasks performed for the benefit of the recipients. Examples of goods are automobiles, appliances, and clothing. Examples of services are legal advice, house cleaning, and consulting services. The output of a business can lie somewhere between these two concepts.

75
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15-year old is the youngest to pass CPA exam

Accounting Today

On his way to law school, Jimmy Chilimigras broke an eight-year record by becoming the youngest student ever to pass the CPA exam.

CPA 190
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Going concern value definition

Accounting Tools

Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Divestitures and Spin-Offs Mergers and Acquisitions What is Going Concern Value? Going concern value is the amount that a potential acquiree is worth to a buyer under the assumption that the business will continue in operation for the foreseeable future. This is the default valuation assumption for a business.

CPA 74
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In the blogs: The jig is up

Accounting Today

Next phases for the IRS; trust and bullies; tariffs' effects; and other highlights from our favorite tax bloggers.

Tax 188
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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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Financial information definition

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections What is Financial Information? Financial information is data about the monetary transactions of a person or business. This information is use to derive estimates of credit risk by creditors and lenders. Examples of financial information are credit card numbers, credit ratings by third party credit analysis firms, financial statements , and payment histories.

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The top VARs for 2023

Accounting Today

These 15 resellers are the leading performers on this year's Accounting Today VAR 100.

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Firm definition

Accounting Tools

What is a Firm? A firm is any type of business. Examples of firms are a sole proprietorship , partnership , limited liability company , or corporation. The term is slightly more commonly associated with a partnership. Given the broad reach of this term, it cannot be used to specify the legal protections afforded by a certain type of legal organization.

71
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Manage your accounting firm's device fleet to control costs

Accounting Today

Device-as-a-service offers businesses a secure mobile solution that's easy to manage.

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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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Advisor Alliance: Finale Inventory

Insightful Accountant

In this edition of Advisor Alliance, Murph introduces the benefits and rewards of becoming a Partner with Finale Inventory.

74
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Hightower invests in GMS Surgent

Accounting Today

The wealth management firm has made a strategic investment in a tax and advisory firm.

Tax 185
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8 Ways to grow your business

Ontrack Bookkeeping

Once your business is up and running, it’s important not to rest on your laurels. Successful business owners are always looking at ways they can grow their business and maximize their profits. We’ve put together this a guide and checklist that can help you identify ways to get the most out of your business. 1. Grow your sales Contact your best customers to buy more One of the easiest ways to achieve an increase in sales is to sell more to your existing customers.

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The 2023 VAR 100

Accounting Today

With the ever-evolving state of technology, the leading resellers and implementers of accounting tech are more in demand than ever.

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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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Should you lease or buy assets?

Ontrack Bookkeeping

Finding money for the essential assets you’ll need to run your business efficiently can be a challenge. You’ll need to decide whether leasing or buying is best for your business. Is borrowing money essential? Whether you need to purchase a vehicle, some computer equipment, or a bigger warehouse to expand your business or to operate more effectively, take the time to consider how each purchase might impact your operating capital.

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India's government orders inspection of Byju's finances

Accounting Today

The education-technology titan has been rocked by the resignation of its auditor and three board members.

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15-Year-Old Passes CPA Exam; NY Requires Independent Audits of AI Hiring Processes

Cloud Accounting Podcast

The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at earmarkcpe.com. Sponsors OnPay - [link] Relay - [link] Forwardly - [link] Chapters (00:04) - Preview: Accounting firms will transition to corporations (01:00) - Blake and David are back from their trips (05:03

CPA 52
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First Look at BatchMaster

Insightful Accountant

In this First Look, Liz Scott provides a comprehensive overview of BatchMaster, a software solution designed for mid-market manufacturing in various industries.

52
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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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Dividends in arrears definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What are Dividends in Arrears? A dividend in arrears is a dividend payment associated with cumulative preferred stock that has not been paid by the expected date. These dividends have not been authorized by the board of directors , because the issuing entity does not have sufficient cash to make the payment.

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Seamless. Scalable. Leading Edge.

Insightful Accountant

SmartVault's SmartRouting feature is helping UltraTax CS users unlock higher levels of efficiency, improving user experience and creating more collaboration.

52
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For-profit organization definition

Accounting Tools

What is a For-Profit Organization? A for-profit organization is an entity whose primary goal is to earn a profit. Most business entities are considered to be for-profit organizations. Examples of for-profit organizations are airlines, construction companies, freight hauling companies, manufacturers, publishing companies, restaurants, retail stores, and shipping companies.

Tax 40
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Aussies Hate Tax Time, Too

Insightful Accountant

More than 30% of Aussies find tax time stressful, while nearly 20% of them would prefer to clean up after their pooches than do their taxes.

Tax 52
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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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Financial audit definition

Accounting Tools

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is a Financial Audit? A financial audit is the examination of the financial records of an entity by a certified third party examiner. This examination by a knowledgeable outsider is needed to provide credibility to an organization's financial statements.

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How Accounting Firms Fail at Recruitment (Do This Instead)

Jetpack Workflow

A growing number of job vacancies, difficulty reaching the younger generation of professionals, and only getting a few applicants for each job posting are all common problems for accounting firms recruiting talent. In fact, 9 out of 10 accounting and audit firms currently struggle to fill open positions. On our podcast, Growing Your Firm , we’ve heard from many industry experts and successful firm owners.

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General price level accounting definition

Accounting Tools

Related Courses GAAP Guidebook International Accounting What is General Price Level Accounting? General price level accounting involves the restatement of financial statements for the effects of inflation. This adjustment is useful in periods of high inflation, when it would otherwise be difficult to determine the true financial condition of a business.

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How to Document a Test of Control for Purchases Controls?

Nanonets

In today's business landscape, organizations face a myriad of challenges related to financial integrity, regulatory compliance, and operational efficiency. Among the critical areas that require careful attention is the control of purchasing activities. Effective purchases controls ensure compliance with regulations, mitigate risks and promote operational efficiency.

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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.