Thu.Aug 24, 2023

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AICPA asks IRS for better trust forms, guidance on tax credits

Accounting Today

The institute sent comment letters requesting changes in two forms used to report on foreign trusts, and guidance on energy credits and advanced manufacturing investment credits.

Tax 246
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Accounts Payable Automation ROI Calculator

Fidesic blog

When evaluating an automation solution, tangible cost benefits are often difficult to quantify. There's the obvious things, like reducing printing check costs, transitioning to ACH instead of checks, and the reduction of hard costs that relate to shipping, but many of the main benefits are more ‘soft costs'.

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IRS may have skirted rules on directly contacting represented taxpayers

Accounting Today

Internal Revenue Service employees weren't always following the proper rules when it came to directly contacting taxpayers instead of their representatives like accountants and attorneys.

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5 Tax Deductions Every Real Estate Agent Should Know

CSI Accounting & Payroll

Working in real estate takes a big investment of time and money. Plus, when it comes to expenses, it’s not always crystal clear whether they're deductible or not. In this industry where expenses add up quickly, understanding your expenses will help you deduct appropriately and avoid overpaying on your quarterly and year-end taxes. At CSI Accounting & Payroll, we've worked with tax deductions for the real estate industry for over 50 years.

Tax 94
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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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Was the last meeting you had worth $2,000?

Accounting Today

How many inefficient meetings do we have in which 10 people, each billing out at $100 to $400 an hour, sit around talking about things without having a clear-cut objective or next steps from the meeting?

Billing 244
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Accounting and the World of AI

Insightful Accountant

Kognitos' Drayton Wade on why it is imperative for accounting firms to adopt Generative AI in a rapidly evolving world.

More Trending

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Feature Focus Fridays: New QBO-QuickBooks Time Integration

Insightful Accountant

In this 'Feature Focus Friday,' Murph examines how Intuit is integrating more QuickBooks Time tasks into QuickBooks Online.

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Taxpayers sue Google, Meta over privacy leaks

Accounting Today

Google and Meta are facing class action suits after revelations they had been collecting sensitive taxpayer information via online filing sites.

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The Accounts Payable Workflow in QuickBooks: How to Improve the Process

MineralTree

Are you relying on the current accounts payable (AP) workflow in QuickBooks Desktop or Online to manage your financial operations? If so, you’re not alone. The QuickBooks AP workflow includes tasks like invoice receipt, data entry, approval, and payment required to manage AP within the software. However, while these AP workflow tasks in QuickBooks provide basic functionality, it falls short when it comes to advanced features tailored to modern AP.

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Demystifying the taxation of NFTs

Accounting Today

Tax authorities worldwide are deciding how to tax non-fungible tokens. Now is the time to get clarity on this quickly evolving phenomenon.

Tax 246
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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 To Get QuickBooks Remote Access [Ultimate Guide]

Ace Cloud Hosting

Reliance on traditional on-premises QuickBooks Desktop is often detrimental to businesses. Instances occur when you need to access the accounting application remotely using your preferred devices and assist clients during.

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Tax Fraud Blotter: Health care crisis

Accounting Today

Stonewalled; cashing out; trailer trash; and other highlights of recent tax cases.

Tax 246
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Expand your Financial Modeling Services

Analytix Finance & Accounting

Financial modeling is an essential part of the forecasting process, as it allows you to estimate the potential of a product, project, or entire business. A financial model will take into account many relevant operational and financial variables, as well as growth and risk assumptions, to interpret their impact on the bottom line. This allows business leaders to better understand numerous factors that are critical to the underlying business endeavor’s success over time.

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Hedge funds, PE firms hit with new SEC fee disclosure rules

Accounting Today

Hedge funds and private equity firms will have to disclose more about their fees and face new restrictions from the Securities and Exchange Commission on giving investors special treatment.

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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 Tasks Spreadsheet [Free Templates and Checklists]

Jetpack Workflow

Accounting firms relying on memory alone to keep up with their clients’ accounting tasks risk overlooking essential work assignments or missing critical deadlines. It can lead to hours of overtime catching up on projects or fixing mistakes. Rather than disappointing your clients, keep your team organized by creating detailed checklists to stay on track.

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In the blogs: Trust no one

Accounting Today

Lots of letters; sales tax and crumbling streets; a different look at due diligence; and other highlights from our favorite tax bloggers.

Tax 100
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QuickBooks Pushing Out Updates to Desktop to Resolve Issues

Insightful Accountant

Intuit has been pushing out updates to QuickBooks Desktop in an attempt to resolve issues regarding security certificate rejection impacting Web-connector and SDK 3rd-party applications.

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Countdown to AWS re Invent 2023: What's in Store for the Cloud's Biggest Event?

finout

Table of contents Introduction Setting the Stage Speculated Showstoppers at AWS re Invent 2023 Can't-Wait Workshops & Breakout Sessions Why AWS re Invent 2023 is THE Event of the Year The Countdown Begins!

FinOps 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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Expense Approval Software

Tipalti

Among today’s top expense management solutions, which expense report software also offers expense approval controls? This in-depth lineup reviews top contenders in 2023.

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CloudZero Vs. Homegrown Cloud Cost Tooling

CloudZero

From 2022 to 2023, worldwide cloud spending is expected to increase to $597.3 billion , up from $491 billion in 2022. Year over year, that’s a 21.64% increase.

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Future Forward Fall 2023 is Heading Your Way

Insightful Accountant

Murph provides a peek into some of the training content headed your way in the upcoming 'Future Forward.

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Customer acceptance uncertainty definition

Accounting Tools

Related Courses Bookkeeping Guidebook How to Audit Revenue Revenue Recognition What is Customer Acceptance Uncertainty? The Securities and Exchange Commission does not approve of revenue recognition until the uncertainty surrounding customer acceptance has been resolved. This means that revenue recognition may be predicated on the exact wording of sale agreements, where customers are allowed to withhold their approval subject to testing and other criteria.

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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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A New Way to Automate with Tipalti Expenses

Accounting Department

Tipalti Expenses offers a comprehensive and purpose-built solution to streamline and manage employee-initiated spending and reimbursements, all within a single, efficient system.

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Holding company definition

Accounting Tools

Related Courses C Corporation Tax Guide Types of Business Entities What is a Holding Company? A holding company is a corporate entity that controls a number of subsidiary entities. The level of ownership required to exercise control over a subsidiary varies, but does not usually have to be 100%. The managers of the holding company oversee the subsidiaries, but are not directly involved in their operation; local management teams control each subsidiary.

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Held-to-maturity securities definition

Accounting Tools

Related Courses Accounting for Investments What are Held-to-Maturity Securities? A held-to-maturity security is a non-derivative financial asset that has either fixed or determinable payments and a fixed maturity , and for which an entity has both the ability and the intention to hold to maturity. The held to maturity classification does not include financial assets that the entity designates as being at fair value through profit or loss, as available for sale , or as loans or receivables.

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Layaway sales definition

Accounting Tools

Related Courses Bookkeeping Guidebook How to Audit Revenue Revenue Management Revenue Recognition What are Layaway Sales? Retailers routinely offer layaway sales arrangements to their customers , where customers are allowed to set aside specific items, usually in exchange for a layaway deposit. The retailer retains custody of the goods until the customer pays the remaining balance on the goods.

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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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Holding costs definition

Accounting Tools

Related Courses Accounting for Inventory Inventory Management What are Holding Costs? Holding costs are the costs incurred to store inventory. There are a number of different costs that comprise holding costs, including the items noted below. Depreciation Cost The company incurs a depreciation charge in each period for all storage space, racks, and equipment that it owns in order to store and handle inventory.

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Joint and several liability definition

Accounting Tools

Related Courses Essentials of Business Law Guide to Auditor Legal Liability What is Joint and Several Liability? Joint and several liability arises when there is an obligation that can be enforced against a group of people or against them individually. The type of enforcement chosen is up to the enforcing party, which will typically choose to pursue payment in whatever manner is easiest to collect.

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Hedging instrument definition

Accounting Tools

Related Courses Accounting for Derivatives and Hedges Corporate Finance Enterprise Risk Management What is a Hedging Instrument? A hedging instrument is a designated financial instrument whose fair value or related cash flows should offset changes in the fair value or cash flows of a designated hedged item. A hedged item is an asset , liability , commitment, highly probable transaction, or investment in a foreign operation that exposes an entity to changes in fair value or cash flows, and is des

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Junior accountant definition

Accounting Tools

Related Courses Accountants' Guidebook What is a Junior Accountant? A junior accountant is an individual positioned at the bottom of the organizational structure of an accounting department. This person typically has earned a college degree, but has little accounting experience. A junior accountant is expected to handle a number of lower-responsibility accounting tasks in order to gain a broad grounding in how accounting transactions are handled.

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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.