Wed.Jul 26, 2023

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IRS plans new measures to curb Employee Retention Credit fraud

Accounting Today

The Internal Revenue Service will be adding extra procedures to deter scammers who have been inundating the agency with bogus claims for the Employee Retention Credit.

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7 tips on how to negotiate pay and approach compensation

Intuit

What is Black Women’s Equal Pay Day? Each year, the date of Black Women’s Equal Pay Day roughly reflects how long a Black woman must work into the year to make what a white, non-Hispanic man made the previous year. The later in the year this day falls, the wider the wage gap. This year, Black Women’s Equal Pay Day is on July 27th, 2023. According to the non-profit organization, the American Association of University Women and ACS Census data, Black women in 2021 made 58 cents for every dollar ea

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SEC approves cybersecurity disclosure rules

Accounting Today

The Securities and Exchange Commission approved new rules that would require entities to disclose material cybersecurity incidents.

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Singapore Xero Awards 2023: Congratulations to our winners

Xero

Last night I had the enormous privilege of hosting our very first in-person Xero Singapore Awards ceremony to celebrate the outstanding achievements of our accounting and bookkeeping partners and crown our 2023 winners. It was a brilliant night, bringing everyone together in person again. I loved seeing the camaraderie and festivity in the room as our partners reconnected with one another and cheered each other on.

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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.

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Newer CEOs more likely to favor ESG reporting to build their reputation

Accounting Today

Companies have been doing more reporting on their corporate social responsibility efforts, but that's especially the case when there's a new chief executive in place.

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Like Presents Under the Tree – QuickBooks HR Improvements

Insightful Accountant

Intuit has released—or is about to release—a whole new group of improvements in the HR arena for QuickBooks users with QuickBooks Online Payroll and Workforce.

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QuickBooks Price Hikes

Insightful Accountant

New pricing for QBO, QuickBooks Online Payroll and QuickBooks Payments will start rolling on Aug. 1 for some US customers depending on your product(s) and current discounts in place.

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Vendor Spotlight: Bill

Accounting Today

In this week's Vendor Spotlight, we talk to Irana Wasti, chief product officer at payment and bookkeeping solutions provider Bill.

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Basic accounting concepts

Accounting Tools

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What are the Basic Accounting Concepts? There are a number of conceptual issues that one must understand in order to develop a firm foundation of how accounting works. These basic accounting concepts are noted below. Accruals Concept Revenue is recognized when earned, and expenses are recognized when assets are consumed.

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Making an impact as a new finance transformation leader

Accounting Today

The speed, scale and scope of finance transformation requires dedicated full-time management.

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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.

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Pro rata definition

Accounting Tools

Related Courses Cost Accounting Fundamentals What is Pro Rata? Pro rata refers to a proportional allocation. Under this approach, amounts are assigned based on each participant’s proportional share of the whole. In accounting, this means revenues , expenses , assets , liabilities , or other items are proportionally allocated among participants. A participant may be an individual or an entity.

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IT professionals: Build your brand with internal communication

Accounting Today

At too many accounting firms, no one knows what their technology teams are accomplishing.

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The CFPB’s Concerns with Medical Debt Credit Cards

RevCycle

The cost of healthcare in the United States is a major financial burden for many people. In fact, medical debt is the leading cause of personal bankruptcy in the country. In recent years, there has been a growing trend of medical debt credit cards being offered to patients. These cards allow patients to finance their medical bills, but they often come with high interest rates and fees.

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Financial reporting issues and more engulf Byju's founder

Accounting Today

Apart from a raid by India's financial crime-fighting agency, the tutoring startup failed to file its financial accounts on time, and U.S. investors accuse it of hiding half a billion dollars.

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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.

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10 Important Email Templates for Accounting Business [2023]

Ace Cloud Hosting

Emails are one of the most common and important means of communication for any business. It is one of the easiest ways to get in touch with people from anywhere.

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The Succession Advisor: Five ways to value an intangible asset

Accounting Today

In every case, you'll be asked to do the impossible: predicting the future.

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The future of accounting is AI-powered

Blake Oliver

Check out the highlight reel from this quarter's Accounting MetaInfluencer's Roundtable on how artificial intelligence will transform the profession. Featuring insights on AI adoption from: Sona B Akmakjian, CPA , who shared how AI has been a high investment area for her organization and has allowed them to do more with the same resources. Randy Johnston , who discussed an impressive 50%+ reduction in the need for human customer support agents thanks to AI chatbots that understand "farmer langua

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The Most Important Thing to Work on Next at Your Firm

Future Firm

When fully immersed and entrenched in your business, gaining clarity on the most crucial areas of focus and determining the next steps can become quite challenging. In this episode, I talked about how you can keep your eyes on the goal despite being distracted regularly by social media, websites, and other mediums. Listen Below. 1:10 – The internet is relentless, as countless vendors, suppliers, and apps promising revolutionary solutions, are getting pushed to us all the time. 1:37 –

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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.

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What is financial data extraction?

Nanonets

Extracting relevant and accurate financial data from financial and business documents is critical for effective decision-making, financial analysis, and integrity, as well as regulatory compliance. However, the process of extracting financial data can be challenging, time-consuming, and prone to errors when relying on manual processes or outdated methods.

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8 Tips to Optimize Record-Keeping for Small Businesses

Bookkeeping Express

For small business owners, staying on top of finances is crucial to long-term success. Among the various financial practices, record-keeping stands out as a fundamental aspect that cannot be overlooked. Accurate and consistent record-keeping is the backbone of any successful business, providing vital insights, facilitating compliance, aiding in decision-making, and fostering growth.

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Differentiation strategy definition

Accounting Tools

Related Courses Business Strategy What is Differentiation Strategy? Differentiation strategy involves the development of unique products that differ significantly from those of competitors. By doing so, a company can convince customers to accept higher price points , which in turn results in higher margins. This strategy requires that a company continually invest in enhancing its products, so that it always maintains an edge over its rivals in the features being offered to customers.

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Member Spotlight: Credit Congress Is the Ultimate Tool

NACM

From certifications to networking and information gathering, NACM's Credit Congress remains a valuable resource to the credit industry. Now, merely a month later, many credit professionals are still reaping the benefits."My company is an advocate for NACM and encouraged me to attend conferences due to my interest in learning," said Martha Mays, cre.

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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

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Translation exposure definition

Accounting Tools

Related Courses Enterprise Risk Management Foreign Currency Accounting What is Translation Exposure? Translation exposure is the risk of having changes in foreign exchange rates trigger losses on business transactions or balance sheet holdings. These losses can occur when a firm has assets , liabilities , equity , or revenue denominated in a foreign currency and needs to translate them back into its home currency.

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Hunter Biden plea deal in limbo after judge rejects terms

Accounting Today

Lawyers and federal prosecutors came to an agreement during the hearing to limit the plea deal to apply to only tax crimes, drug offenses and a firearm violation between the years 2014 to 2019.

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Burn rate definition

Accounting Tools

Related Courses Entrepreneur’s Guidebook Financial Analysis The Interpretation of Financial Statements What is Burn Rate? Burn rate is a measure of the speed with which a business is spending its cash reserves. The burn rate concept is most commonly applied to startup businesses, which only have a certain amount of time to achieve positive cash flow before their startup capital is drained.

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The Big Money In AI; When Crypto Is A Security; 3 Updates from QuickBooks

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 LiveFlow - [link] Zoho - [link] Accruer - [link] Chapters (00:04) - Preview: Taylor Swift's "The Eras Tour" economic impact (00:53) - Welcome to The Accounting Podcast and a quick over

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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.

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Vacation pay payable

Accounting Tools

Related Courses The Balance Sheet What is Vacation Pay Payable? Vacation pay payable is a general ledger account that contains the liability that an employer has to pay employees for vacation time earned but not yet used. The balance in this account is updated at the end of each reporting period to reflect additions to accrued vacation expense, as well as employee usage of their vacation time.

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Vendor definition

Accounting Tools

Related Courses Contract Management How to Audit Procurement Purchasing Guidebook What is a Vendor? A vendor is a purveyor of goods or services. All of the entities in a supply chain that leads up to the final delivery of goods or services to a customer are considered vendors.

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Variance report definition

Accounting Tools

Related Courses Cost Accounting Fundamentals What is a Variance Report? A variance report compares actual to expected results. The typical format is to first present the actual results, followed by the expected results (in the form of a budgeted or standard number), after which the variance amount and variance percentage are stated. This report allows management to gauge the performance of an organization against expectations.

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Cost overrun definition

Accounting Tools

Related Courses Contract Management Cost Management Guidebook Project Management What is a Cost Overrun? A cost overrun is the amount by which actual expenditures exceed the planned amount. A cost overrun may occur for any of the following reasons: The scope of the project was expanded during the project without a sufficient increase in its planned cost.

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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.