Thu.Jan 02, 2025

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Leveraging Financial Analytics: Turning Data into Actionable Business Strategies

Accounting Department

In today's fast-paced business environment, numbers alone won't cut it. It's about transforming those numbers into meaningful insights that can guide strategic decisions and drive growth. Financial analytics offers medium-sized businesses a powerful tool to convert raw data into actionable strategies, giving them a competitive edge. Let's explore how leveraging financial analytics can revolutionize business operations , improve decision-making, and enhance overall efficiency.

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The most-read stories of 2024 in accounting

Accounting Today

The worsening talent shortage and new policies from the Internal Revenue Service top the list of the stories our readers flocked to.

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How Technology and Relationships Drive Small Business Success

The Successful Bookkeeper

Small business success often hinges on the right balance between technology and relationships. Melika Hope, a senior product manager at Intuit Canada, brings a unique perspective to this dynamic, blending her CPA expertise with her passion for empowering small business owners. Her insights offer actionable strategies for bookkeepers and small business owners alike to enhance efficiency, build meaningful connections, and leverage modern tools for growth.

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SEC approves PCAOB rule change on deregistering firms

Accounting Today

The PCAOB will be able to address situations in which a registered firm has ceased to exist, is nonoperational, or no longer wishes to remain registered.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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Top 10 Financial Management Tools for CFOs

Invoicera

Financial management is particularly vital for small businesses since 61% rely on personal savings to meet their funding needs. The above statistics clearly depict how much of a requirement there is for financial management tools. Additionally, with the average loan under the SBA’s 7(a) program being approximately $479,685 in 2023, having robust financial management systems becomes crucial for businesses to handle loans effectively and avoid financial pitfalls.

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The 2024 Top 100 People: Building a legacy

Accounting Today

Accounting's top influencers share what they want to be remembered for.

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Tax Fraud Blotter: Job woes

Accounting Today

Heavy metal; with a side of alimony; Landing in jail; and other highlights of recent tax cases.

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5 Signs It’s Time to Automate Your AP Processes 

AvidXchange

Have you noti ced inefficiencies in your accounts payable (AP) department ? It might be time for a change. Identifying signs like frequent errors, late payments , or audit challenges can highlight the need for automation. In this post, well explore key indicators that signal its time to streamline your AP workflow and boost efficiency with automation.

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DOJ takes BOI fight to Supreme Court

Accounting Today

The Justice Department filed an emergency request with the U.S. Supreme Court, asking it to lift the injunction on the beneficial ownership information reporting requirement under the Corporate Transparency Act after a federal appeals court reversed itself on the injunction last week.

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Financial Vitality | Automating Invoice To Cash

oAppsNet

Maintaining robust financial health is a top priority for companies of all sizes in today’s fast-paced business environment. One of the most critical aspects of economic vitality is efficiently managing the invoice-to-cash (I2C) process. This process encompasses everything from issuing invoices to receiving payments and directly influences cash flow, profitability, and overall business performance.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Thomson Reuters acquires SafeSend

Accounting Today

Thomson Reuters acquired cPaperless, doing business as SafeSend, for $600 million in cash to expand its tax and accounting offerings.

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BOI Reporting in Flux Following Fifth Circuit Rulings

Insightful Accountant

The enforcement status of the CTA continues to shift following recent Fifth Circuit decisions. After initially granting the emergency motion to stay a nationwide injunction on December 23, the Fifth Circuit's merits panel reversed course.

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Yeo & Yeo buys Amy Cell Talent

Accounting Today

The Regional Leader firm has acquired a human resources service provider in Michigan and rebranded it as Yeo & Yeo HR Advisory Solutions.

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Jan 3, Reminder to log your odometer reading

Bookkeeping Essentials

At the beginning of each year (January 1), you need to record your odometer reading. This figure becomes the last entry for your prior year log. It's a good idea to diarize this date so you don't forget.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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2024 Top 100 People extra: Careers to remember

Accounting Today

As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "What would you like your professional legacy to be?

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Top Remote Accounting Candidates for Hire | January 2, 2025

accountingfly

Top Remote Candidates This Week Are you in need of remote accountants? Accountingfly can assist you! Our ‘ Always-On Recruiting ‘ program allows you to connect with highly skilled and experienced remote accounting candidates without any upfront costs. Here are some of this week’s top remote tax and accounting candidates. Sign up now to receive the full list of available top accounting candidates on a weekly basis!

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How the accounting profession can fend off a talent crisis

Accounting Today

A generation of CPAs is at or near retirement age, and the number of new accounting professionals entering the field won't be enough to keep up with future needs.

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What is Payment Reconciliation & How Does it Work?

Billing Platform

Managing payments and transaction records for your business seems easy enough, right? After all, if youre not doing it the business probably wont survive. But as businesses grow and cash flow increases, its harder for accounting teams to keep up. Manual spreadsheets can lead to errors. Detecting and preventing fraudulent payments to maintain compliance gets harder too.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

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Is your company losing 5% of revenue to expense fraud?

Blake Oliver

Is your company losing 5% of revenue to expense fraud? A study by the Association of Certified Fraud Examiners (ACFE) says that organizations typically lose about 5% of annual revenue to fraud, much of it from questionable expense reports. On a recent episode of The Accounting Podcast , I shared some recent examples from The Wall Street Journal that highlight how creative employees can get: family gifts, vacations, even an RV charged to the company card.

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How to NetSuite - Supply Chain Planning

Insightful Accountant

Murph summarizes the advantages of sound supply chain planning and procurement management if your business involves production/manufacturing or wholesale/retail sales. He overviews these capabilities within Oracle NetSuite.

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Jan 2, How To Close Your Books in QBO

Bookkeeping Essentials

Closing the books is an important practice for any small business owner. Learning how to use QuickBooks Online to close your books is much simpler than some other accounting programs. Here's the why, when, and how to close the books in QuickBooks Online (QBO).

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Tech Stack Series: Discovery and Onboarding, Re-engagement and Dis-engagement Tech

Insightful Accountant

In this Tech Stack series with Kellie Parks CPB, we will cover the essential technology for building a harmonious onboarding experience that sets the stage for respectful, professional client relationships with your firm.

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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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Top 10 Financial Management Tools for CFOs

Invoicera

Financial management is particularly vital for small businesses since 61% rely on personal savings to meet their funding needs. The above statistics clearly depict how much of a requirement there is for financial management tools. Additionally, with the average loan under the SBA’s 7(a) program being approximately $479,685 in 2023, having robust financial management systems becomes crucial for businesses to handle loans effectively and avoid financial pitfalls.

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The Future of Accounting: Zoho Practice

Insightful Accountant

Accounting firms face numerous challenges, from inefficiency to miscommunication and time-consuming manual tasks. Zoho Practice is a comprehensive platform designed to streamline your operations.

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Establishing Small Business Accounting Services and accounting firm in New York City (NY)

Black Ink Tax & Accounting

Table of Contents Understanding the Average Cost of CPA Tax filing and how much will it cost The filing of […] The post Establishing Small Business Accounting Services and accounting firm in New York City (NY) appeared first on bitaccounting.

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15 Best Color Palettes for Websites (+ Examples & Tips)

Fit Small Business

Your website is your brands primary representation in the online world. Its likely the first stop potential customers will visit when researching your business, which is why its essential that it leaves the right impression. And part of that is choosing the colors for your website. To get started with some inspiration, I rounded up. The post 15 Best Color Palettes for Websites (+ Examples & Tips) appeared first on Fit Small Business.

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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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BOI On Again Off Again, Bench Shuts Down, Dying Language of Accounting

Cloud Accounting Podcast

Rounding out 2024, Blake and David tackle tons of accounting news, including bookkeeping startup Bench's shutdown and the ongoing BOI reporting requirements saga. They also examine concerns about IRS Commissioner nominee Billy Long's credentials, including his "Certified Tax and Business Advisor" designation from a three-day seminar. Wrapping up, they review some of 2024's hottest stories, including declining CPA candidates, audit quality issues, and KPMG CEO Paul Knopp's Wall Street Journal op-

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What Is a Statutory Employee? Definition and Key Facts

Fit Small Business

Statutory Employee Definition A statutory employee bridges the gap between a regular employee and an independent contractor. Regular employees work under direct supervision, have taxes withheld, and typically receive company benefits. Independent contractors maintain complete autonomy, receive 1099 forms, and handle all their own taxes. Here are the key characteristics of a statutory employee: Independent.

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What Is Workplace Bullying? Types, Laws & How to Prevent It

Fit Small Business

Workplace Bullying Definition & Overview The definition of workplace bullying is any constant and repeated harassment or offensive actions toward another employee. Bullying goes beyond simple disagreements between coworkers; it is damaging behavior through intimidation, humiliation, or exclusion. This negative environment not only affects individual well-being but also undermines team dynamics and productivity.

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