Wed.Apr 10, 2024

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PCAOB levies $27M in fines for exam cheating

Accounting Today

The board imposed its largest-ever penalty of $25 million against KPMG's firm in the Netherlands, in addition to $2 million in fines against Deloitte's firms in Indonesia and the Philippines.

Auditing 305
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The Hidden Key to Profits: Understanding Opportunity Cost in Small Business

Accounting Department

In the competitive world of small business, every decision can determine the trajectory of success or failure. One concept that lies at the heart of strategic business decisions but is often overlooked is opportunity cost. It's not just an economic theory; it's a practical metric that every small business owner and entrepreneur should master to make better choices and drive competitive advantage.

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AI targets tax refunds, and other tech stories you may have missed

Accounting Today

Plus, Google is making massive changes to Chrome, AI-powered tax chatbots aren't performing well, and seven other things that happened in technology this past month.

Tax 305
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Ascend Software Unveils Payments Automation Solution

Ascend Software blog

Ascend Software, a certified Workday Financial Management partner and leading innovator in Accounts Payable Automation, is launching its latest offering, Ascend Payments. This new feature enables businesses to streamline payment processes, enhance operational efficiency, unlock significant cost savings, and turn supplier payments into revenue-generating opportunities.

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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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IASB unveils financial performance standard

Accounting Today

The International Accounting Standards Board has completed a new standard to give investors more readily comparable information about companies operating profits in one of the biggest changes to International Financial Reporting Standards in decades.

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Critical Accountant Shortage

Insightful Accountant

Accounting profession faces staffing shortages due to fewer graduates and an aging workforce. 42% of firms turn away work, 24% near burnout. First-time CPA exam candidates dropped by 33% from 2016 to 2021.

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Startup Tax Exemptions: Unlocking Savings with Expert Strategies and Real Examples

Counto

Startup Tax Exemptions: Unlocking Savings with Expert Strategies and Real Examples At Counto, we’re not just about numbers; we’re about making the complex world of taxes simpler for you. Today, we’ll have a closer look at startup tax exemptions, an essential piece of knowledge for every new business owner and entrepreneur. Startup Tax Exemption Scheme (SUTE) with Example Eligible for startups in their first three consecutive tax returns, the Tax Exemption Scheme for startups signific

Tax 98
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LPL drops lawsuit seeking $5.4M tax refund from IRS

Accounting Today

The firm may pursue its claims through an administrative office at the agency after agreeing with the federal government to dismiss its case.

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Preparing Your Business For A Debt Collection Agency

Enterprise Recovery

Is your business struggling with unpaid invoices or clients not paying on time? Many companies often turn to professional debt collection agencies for assistance when this happens. Before you hand over your delinquent accounts to a collection agency, it's important to understand their role and how they can help your business. Learn how to effectively prepare your business for working with a debt collection agency to recover outstanding payments.

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Master the art of timekeeping for government contracting compliance

Accounting Today

Failure to maintain an acceptable accounting system may result in the withholding of payments from the government to a contractor.

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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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"How Suite the Stay" - Hotel Eqities selects Oracle NetSuite for their ERP.

Insightful Accountant

Hotel Equities to implement NetSuite to help optimize business processes and improve visibility across its growing portfolio.

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Users must reapply to IVES by May 1; fees to increase

Accounting Today

An earlier postponement of the reapplication date has been rescinded.

Tax 183
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Tax Benefits: What Is the Federal Opportunity Zone Incentive Program?

CSI Accounting & Payroll

As a small business owner – or a prospective small business owner – you keep an eye out for business opportunities. That’s why when you first heard about federal Opportunity Zones (OZs) offering a unique tax benefit , you needed to learn more. At CSI Accounting & Payroll, we’ve worked with year-round small business tax strategy for over 50 years.

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M&A watch: Crete and Level Four expand

Accounting Today

Crete Professionals Alliance added Reid Tax & Advisory Services; and Financial Independence joined Level Four Financial.

Tax 141
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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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Stay Tax-Savvy: Regional Invoicing Rules Explained

Invoicera

Introduction Are you having trouble managing regional invoicing rules for your business? This guide should be all that you need. In this article, we’ll discuss regional invoicing rules and best practices for businesses to manage internal invoicing. Businesses can now operate globally, enabling you to work with different companies from anywhere in the world.

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The Inefficient Marketing Strategy That Works

Future Firm

A lot of firms struggle with their marketing. In this episode, I shared a marketing strategy that might be inefficient but works. The post The Inefficient Marketing Strategy That Works appeared first on Future Firm.

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Accounts Payable Automation in Sage Intacct

Nanonets

Sage Intacct, a world-renowned ERP solution, is one of the top choices for businesses globally. Finance teams and many others use it to facilitate their operations. In today's fast-paced business environment, it's essential to streamline operations and maximize efficiency. This is especially true for the accounts payable (AP) department, which manages a company's financial obligations to suppliers.

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AWS Cost Explorer vs Cost and Usage Report

Economize

An Introduction to AWS Cost Management Ever felt overwhelmed by your AWS bills? Managing your cloud expenses can be a challenging process considering the wide range of products and services that AWS offers. With this vast array of services, users may often find it difficult to keep up with the complexities of AWS billing structure.

Billing 52
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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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Is accounts receivable an asset? (Definition And examples)

Plooto

Accounts receivable is a term used in accounting to describe the money a company is owed by its customers for goods or services provided. Learn more and how it is recorded on a balance sheet.

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How AI Can Help Dental Groups Operate More Efficiently

AvidXchange

From robot bees that pollinate plants to smart beds that automatically adjust to provide support as you toss and turn, artificial intelligence (AI) is booming everywhere. Dental groups can also use AI technology to potentially better serve patients, streamline administrative work and improve overall efficiency. The following are nine possible applications of AI in dental groups.

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Offshore Accounting: Everything You Need to Know

Future Firm

Dive into the world of offshore accounting: Discover benefits, challenges, and best practices in this comprehensive guide. The post Offshore Accounting: Everything You Need to Know appeared first on Future Firm.

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Using IRS Free File for Unclaimed Tax Benefits and Refunds for Non-Filers

Insightful Accountant

IRS urges low-income individuals to use Free File for tax prep, refunds, and credits, even if they don't usually file.

Tax 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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Member Spotlight: Strive for More

NACM

Growing in your career means always striving for more. It means growing in your knowledge and skill set that will make you an asset for any company you work for. That is why NACM established the six-level Professional Certification Program for credit professionals to learn and sharpen their skills, further enhancing their credibility both in their.

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A Comprehensive Guide to Sage 100 ERP in 2024

Nanonets

What is Sage100 ERP? Sage 100 ERP (for enterprise resource planning) is a unified accounting system with modules for business process functionality throughout a company that combines into a single database. Sage 100 is used by companies of all sizes, although it targets companies with 10 to 199 employees.  The most recent Sage 100 software product is Sage 100cloud.

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Ex-Trump CFO sentenced to five months in jail

Accounting Today

Allen Weisselberg admitted to falsely testifying about his role in the valuation of assets the state proved at trial had been inflated for years to get favorable terms on loans.