Accounting Today

JULY 8, 2024

The Internal Revenue Service has stepped up efforts to combat dubious tax advice promoting schemes involving the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes.

Tax 331

Tax 331

Xero

JULY 8, 2024

We’re thrilled to announce the return of the Xero Beautiful Business Fund for 2024. With a prize pool of over NZ$750,000, the Xero Beautiful Business Fund is back to support small businesses and non-profits in seven countries with their growth plans and help drive future success. Small businesses are driven by dedicated and passionate individuals who work hard to contribute to their communities and their local economies.

XERO 264

XERO 264

Accounting Today

JULY 8, 2024

Test your accounting knowledge on identity theft, sales tax reliance, and more. No. 2 pencil not required!

Accounting 328

Accounting Accounting Tax 328

Insightful Accountant

JULY 8, 2024

In this third article of Murph's miniseries on the 2025 ProAdvisor Awards forms, he examines the new Nomination Form and gives some quick tips on its use.

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105

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.

Accounting

Accounting Today

JULY 8, 2024

Due to extensive interest, Accounting Today is extending the deadline for submissions for its annual Managing Partner Elite list to the end of the day on Monday, July 15.

Accounting 325

Accounting Accounting 325

Compleatable

JULY 8, 2024

In the fast-evolving world of finance, innovation is the key to staying ahead. One area that has seen significant advancements is Accounts Payable (AP), with Artificial Intelligence (AI) leading the charge. AI is not just a buzzword; it is revolutionizing how businesses manage their financial processes, bringing efficiency, accuracy, and cost savings to AP departments worldwide.

Financial Operations 100

Financial Operations Financial Operations Accounts Payable Accounts Payable 100

Accounting Tools

JULY 8, 2024

How to Account for a Manufacturing Business The accounting for a manufacturing business deals with inventory valuation and the cost of goods sold. These concepts are uncommon in other types of entities, or are handled at a more simplified level. The concepts are expanded upon below. Inventory Valuation A manufacturing business must use a certain amount of raw materials , work-in-process , and finished goods as part of its production processes, and any ending balances must be properly valued for

Accounting 76

Accounting Accounting General Ledger Cost Accounting 76

Accounting Today

JULY 8, 2024

When it comes to practice management, try to learn as much as you can from whatever source is available.

Accounting 321

Accounting Accounting 321

Accounting Tools

JULY 8, 2024

What is the Purpose of Financial Statements? The general purpose of the financial statements is to provide information about the results of operations, financial position , and cash flows of an organization. This information is used by the readers of financial statements to make decisions regarding the allocation of resources. At a more refined level, there is a different purpose associated with each of the financial statements.

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Financial Statements Financial Reporting Bookkeeping Tax 76

Accounting Today

JULY 8, 2024

Art carries higher rates than most investments, but financial advisors and their clients can tap into trusts, charitable donations, loss harvesting and the stepped-up basis.

Tax 240

Tax 240

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.

The Successful Bookkeeper

JULY 8, 2024

In the first episode of the Ask Lisa YouTube series, Lisa Campbell details how to successfully start a bookkeeping business.

Bookkeeping 75

Bookkeeping 75

Accounting Today

JULY 8, 2024

BDO USA recently appointed a new COO to oversee efforts to improve its audit practice and technology, as well as implement its ESOP.

Auditing 239

Auditing 239

Accounting Tools

JULY 8, 2024

Unpaid wages are the earnings of employees that have not yet been paid by the employer. These wages are only accounted for if they remain unpaid at the end of a reporting period. If so, they must be recorded under the accrual basis of accounting so that the full amount of compensation expense is recognized during the reporting period. An accrual entry is not necessary if the amount of unpaid wages is immaterial; in this case, the expense is recorded when the wages are paid.

Payroll 75

Payroll Accruals Accounting Accounting 75

Accounting Today

JULY 8, 2024

U.S. lawmakers and government officials view the tax as unfair and have threatened to retaliate if Canada moved forward with it.

Tax 208

Tax Corporation Tax 208

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.

Accounting

Accounting Tools

JULY 8, 2024

What is Cost Accounting? Cost accounting involves the recordation, analysis, and reporting of costs to management. The intent behind this type of accounting is to provide insights into the cost structure of a business that can be used to better manage it, thereby improving profitability. It is especially useful for understanding which segments of a business are profitable, and which require improvement.

Cost Accounting 75

Cost Accounting Accounting Accounting Budgeting 75

Insightful Accountant

JULY 8, 2024

Many accounting professionals struggle with the time-consuming and error-prone task of managing accounts payable (AP). If you missed our recent App Academy , MakersHub presented how their innovative solution can revolutionize this critical process.

AP 52

AP Accounts Payable Accounts Payable Management Accounting 52

Accounting Tools

JULY 8, 2024

What is Asset Classification? Asset classification is a system for assigning assets into groups, based on a number of common characteristics. Various accounting rules are then applied to each asset group within the asset classification system, to properly account for each one. The groups are also typically clustered for reporting purposes in the balance sheet.

Petty cash 74

Petty cash Computation Deposits Accounts Receivable 74

Insightful Accountant

JULY 8, 2024

The Pennsylvania Institute of CPAs has published a 29-page CPA firm Tech Report with insightful information on the use of technology and where firms are moving related to tech.

CPA 52

CPA 52

Advertiser: Paycor

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.

Accounting Tools

JULY 8, 2024

When a company incurs an obligation to pay payroll taxes to the government, a portion of it appears on the income statement , and a portion on the balance sheet. A company records an expense on the income statement for the employer matching portion of any Social Security and Medicare taxes, as well as the entire amount of any federal and state unemployment taxes (since they are paid by the company and not the employees ).

Payroll 52

Payroll Financial Statements Tax Auditing 52

Billah and Associates

JULY 8, 2024

Applying through your tax return, the Medical Expense Tax Credit (METC) is non-refundable. You can deduct it from the amount of taxes you owe, but it cannot increase your tax balance above zero because it is non-refundable. You can apply for this tax credit if you incur medical costs that are allowed under the Income Tax Act. In this guide learn how you can maximize your returns, stay informed: How does the Credit for Medical Expenses Operate?

Tax 52

Tax Billing Accounting Accounting 52

Economize

JULY 8, 2024

For any web application, a domain name is a critical aspect, acting as the online address where users can find and access your application, thereby providing global reach. Thus, efficient management of domain names and traffic routing is essential for any business.

Computation 45

Computation 45

Tipalti

JULY 8, 2024

Uncover the critical details about types of ERP systems. From on-premise, cloud, hybrid or multi-cloud, learn how different systems can enhance your business efficiency.

Accounts Payable 40

Accounts Payable Accounts Payable Accounting Accounting 40

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

Accounting Tools

JULY 8, 2024

What are Related Party Transactions and Disclosures? Related party transactions are conducted with other parties with which an entity has a close association. The disclosure of related party information is considered useful to the readers of a company’s financial statements , particularly in regard to the examination of changes in its financial results and financial position over time, and in comparison to the same information for other businesses.

Financial Statements 40

Financial Statements Tax 40

Tipalti

JULY 8, 2024

Learn how ERP software helps solve manufacturing problems and which ERP software is most well-equipped to support manufacturing business needs with end-to-end capabilities.

Accounts Payable 40

Accounts Payable Accounts Payable Accounting Accounting 40

Accounting Tools

JULY 8, 2024

What is Manufacturing Cycle Efficiency? Manufacturing cycle efficiency measures the proportion of production time spent on value-added activities. A business can use this information to pare away non value-added activities , thereby reducing costs and shortening the time required to manufacture a product. Both outcomes can be used as competitive advantages, since a business can then lower its prices while maintaining robust profits , while also offering faster turnaround times to its customers.

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40

Tipalti

JULY 8, 2024

Learn how an intake procurement system can significantly boost the performance and efficiency of both your procurement processes and overall business operations.

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40

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.

Accounting Tools

JULY 8, 2024

What is Employee Turnover? Employee turnover is the proportion of employees that leave a business for any reason during the measurement period. A high turnover ratio is indicative of the reverse - poor benefits and compensation, and/or oppressive business practices or conditions. What Does Low Employee Turnover Indicate? Low employee turnover is generally considered to indicate the presence of excellent benefits and compensation , as well as enlightened management practices.

Payroll 40

Payroll 40

Tipalti

JULY 8, 2024

How do you code invoices in the accounts payable process, and why is it important? Learn how to optimize your invoice coding systems through automation.

Invoicing 40

Invoicing Accounts Payable Accounts Payable Accounting 40

Accounting Tools

JULY 8, 2024

Revenue normally appears at the top of the income statement. However, it also has an impact on the balance sheet in three areas, which are on the reported levels of cash, accounts receivable, and stockholders’ equity. Impact on Cash If a company's payment terms are cash only, then revenue also creates a corresponding amount of cash on the balance sheet, net of any discounts granted to the customer.

Accounts Receivable 40

Accounts Receivable Account Receivables Accounts Receivable Financial Statements 40

Accounting Today

JULY 8, 2024

A Republican party committee approved a 2024 platform ahead of next week's convention that includes addressing the migrant border crisis, cutting taxes and boosting domestic energy production.

Tax 317

Tax 317

Advertiser: Paycor

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.