Wed.Aug 30, 2023

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IRS requires business to start e-filing Form 8300 in 2024

Accounting Today

The Internal Revenue Service is telling companies they will need to start electronically filing their forms reporting cash payments over $10,000, starting Jan. 1, 2024.

Tax 353
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Xero Beautiful Business Fund: How to apply & application tips

Xero

The Xero Beautiful Business Fund has officially been open for one week and we’ve received an incredible response so far! We have four funding categories that Xero small business customers can apply to. Whether you’re looking to take the next step in your sustainability journey, seeking to innovate with the latest technological advancements, give back to your community or upskill yourself or your employees, there is a funding category for everyone.

XERO 238
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IRS updates guidance on handling special state tax payments

Accounting Today

The Internal Revenue Service issued guidance Wednesday on how taxpayers should report the special tax payments, refunds and rebates they received from states in recent years as a form of relief during the pandemic.

Tax 318
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Tax Preparation for Small Businesses: A Comprehensive Guide for Accountants

Intuit

Table of Contents Understanding the Average Cost of Tax Preparation for Small Businesses Small Business Tax Preparation Checklist for Accountants How to Prepare Taxes for Small Businesses Tax Preparation Software for Small Businesses Strategies for Attracting Small Business Clients to Your Tax Preparation Business Other Career Opportunities for Tax Accountants and CPA Work as a Virtual Tax Preparer With Intuit Apply for Business Tax Jobs at Intuit Experienced tax professionals understand that

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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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IFAC highlights sustainability reporting to world finance leaders

Accounting Today

The International Federation of Accountants issued a call to action to the G20 finance leaders urging them to focus more on sustainability as a way to achieve the United Nations' Sustainable Development Goals.

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Best Jobs for Seniors: Part Time Jobs in Tax Preparation and Bookkeeping

Intuit

Table of Contents Why Bookkeeping and Tax Preparation are Great Jobs for Seniors Part-Time Jobs for Retirees in Tax Preparation and Bookkeeping Top Intuit Tax Preparation and Bookkeeping Jobs for Retirees Why Intuit Tax and Bookkeeping Expert roles are Great Jobs for Seniors Conclusion: Why Tax Preparation and Bookkeeping are Ideal Jobs for Older People Apply for Intuit Tax and Bookkeeping Jobs If you’re a senior or retiree who wants to supplement your income or try out a new career, Intuit may

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10 Eye-Opening Statistics about Small Business Finances

Less Accounting

Let’s take a peek into the state of small business finances in 2023—What are their concerns? How are they acquiring financing? In the United States alone, small businesses make up 99.9% of all businesses. That’s 33.2 million small business owners making a global impact. Seeing the state of small business finances can help you understand the external factors affecting your business and how you can better prepare for the future. 1.

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FASB approves income tax reporting standard

Accounting Today

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

Tax 347
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This is More Important Than Your Automation

Future Firm

Many small accounting firm owners often obsess over automation to operate their business. In this episode, I discussed the key to reducing workload and enhancing firm success. Listen Below. 0:51 – While I was running my own accounting firm, I experienced the allure of technology and automation, and the tempting notion that the right tech solutions could solve all our issues. 1:21 – Numerous firm owners excessively focus on identifying the perfect tech stack, thinking it’s the k

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FASB supplements conceptual framework with recognition and derecognition info

Accounting Today

The Financial Accounting Standards Board released another chapter of its conceptual framework related to the recognition and derecognition of an item in financial statements.

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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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Murph's Perfect App Partner Program

Insightful Accountant

What makes an outstanding Partner Program besides the specific app or software?We're glad you asked.

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Vendor Spotlight: Gusto

Accounting Today

In this week's Vendor Spotlight we discuss payroll, benefits and HR solutions provider Gusto with Will Lopez, Gusto's chief ambassador.

Payroll 285
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Feature-Based Pricing: A Guide To Per Feature Pricing in SaaS

CloudZero

The best pricing strategy for your SaaS business will depend on your specific business model, target market, and competition. You’ll also want to test different pricing strategies to see which one works best for you.

FinOps 84
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10 tips for designing the firm of your dreams

Accounting Today

Three practitioners share their strategies and insights for building a great accounting practice.

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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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Accounting Teacher Tells Students Accountants Hate Their Lives

Cloud Accounting Podcast

Blake and David discuss issues relating to the accounting profession's talent pipeline, including a high school student's negative experience in her first accounting class and efforts by state CPA societies to reduce licensing barriers. They move on to tech topics, like the slow adoption of AI tools such as ChatGPT among accountants and new product features announced by Intuit and Xero.

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Don't confuse firm governance with ESG

Accounting Today

Strongly governed firms outperform their peers on a wide variety of metrics.

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Achieve Cloud Sustainability: 7 GreenOps Metrics for Success

Economize

Discover actionable insights on optimizing your cloud environment, reducing your carbon footprint, and achieving business excellence—all backed by metrics that matter.

FinOps 59
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IRA fosters small-biz optimism and IRS efficiencies

Accounting Today

A new survey suggests small businesses see the economy — and the tax service — improving.

Tax 281
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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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Accounting Trends for the Second Half of 2023

Analytix Finance & Accounting

In the hectic and constantly changing industry of finance, staying ahead of the curve is critical for both professionals and corporations. Several accounting trends are transforming the industrial landscape as we enter the second half of 2023. The coming months forecast dramatic shifts from cutting-edge technologies to a greater emphasis on sustainability.

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Digital collaboration: Building stronger remote accounting teams

Accounting Today

It's not just about "remote" anymore; it's about "international.

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Horizontal vs Vertical Scaling in the Cloud

finout

Explore Horizontal vs. Vertical Scaling, their pros, and cons, and how they affect costs and performance when using cloud services.

FinOps 59
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Private employers added 177K jobs in August

Accounting Today

Annual pay climbed 5.9%, payroll processor ADP reported.

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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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More Than Just Pricing: What to Consider When Choosing Between AWS vs Azure

finout

Explore AWS vs. Azure pricing differences, get insights on choosing your provider, and gain strategies for optimizing cloud costs for all business stages.

FinOps 52
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Changing mindsets around generative AI

Accounting Today

Should your firm get on board, or steer clear?

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Direct labor definition

Accounting Tools

Related Courses Accounting for Inventory Cost Accounting Fundamentals What is Direct Labor? Direct labor is production or services labor that is assigned to a specific product, cost center , or work order. When a business manufactures products, direct labor is considered to be the labor of the production crew that produces goods, such as machine operators, assembly line operators, painters, and so forth.

Payroll 40
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Ethanol maker says U.S. 'green' jet fuel fate hinges on tax policy

Accounting Today

Corn farmers and biofuel producers are poised to gain from turning ethanol into sustainable jet fuel — depending on how Washington writes the tax policy.

Tax 177
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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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Delphi method definition

Accounting Tools

Related Courses Effective Innovation New Manager Guidebook What is the Delphi Method? The Delphi method is a forecasting technique that seeks results from several iterative rounds of questionnaires sent to a panel of experts. The results of each round of questionnaires are shared with the group, with no indication of where the majority of opinions were stated in the previous round.

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Deferred tax liability definition

Accounting Tools

Related Courses Accounting for Income Taxes What is a Deferred Tax Liability? A deferred tax liability is income taxes payable in a future period. The liability arises from differences in the methods used to account for certain transactions under tax rules and the applicable accounting framework. A considerable number of reporting periods may pass before a deferred tax liability is paid.

Tax 40
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Double extension method definition

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory What is the Double Extension Method? The double extension method is used to obtain a price index from a representative sample of the items in stock. The index is calculated by measuring the inventory sample at its current-year and base-year costs and comparing the two figures. The name of this method comes from the use of two extension calculations – one at current-year and the other at base-year costs.

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Derivative definition

Accounting Tools

Related Courses Accounting for Derivatives and Hedges What is a Derivative? A derivative is a financial instrument whose value changes in relation to changes in a variable, such as an interest rate , commodity price, credit rating , or foreign exchange rate. It requires either a small or no initial investment, and is settled at a future date. A derivative allows an entity to speculate on or hedge against future changes in market factors at minimal initial cost.

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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.