Sun.May 12, 2024

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Types of transaction cycles in accounting

Accounting Tools

What is a Transaction Cycle? A transaction cycle is an interlocking set of business transactions. Most of these transactions can be aggregated into a relatively small number of transaction cycles related to the sale of goods, payments to suppliers , payments to employees , and payments to lenders. A key role of the accountant is to design an appropriate set of procedures, forms, and integrated controls for each of these transaction cycles, to mitigate the opportunities for fraud and ensure that

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QuickBooks Monday Minute | The ProAdvisor Sub-Economy

Insightful Accountant

The ProAdvisor Sub-Economy flourished as these professionals shared knowledge and helped each other navigate the evolving landscape of accounting and QuickBooks.

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Controllable cost definition

Accounting Tools

What is a Controllable Cost? Controllable costs are those costs that can be altered in the short term. More specifically, a cost is considered to be controllable if the decision to incur it resides with one person. If the decision instead involves a number of individuals, then a cost is not controllable from the perspective of any one individual. Also, if a cost is imposed on an organization by a third party (such as taxes), this cost is not considered to be controllable.

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What Does This Mean? How to Read a Pay Stub

CSI Accounting & Payroll

Whether you’re an employee or the owner of a small business, it’s important to know how to read a pay stub. Each one represents the earnings, deductions, and taxes from each pay period , and they can be needed for income verification, taxes, and personal record-keeping. At CSI Accounting & Payroll, we’ve worked with small businesses for over 50 years.

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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

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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The difference between stocks and bonds

Accounting Tools

What are Stocks? Stocks are securities that represents a fraction of the ownership of the issuing corporation. They are issued to investors in the form of stock certificates. Stock may be classified as common stock or preferred stock. What are Bonds? Bonds are a fixed obligation to pay that are issued by a corporation or government entity to investors.

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Why might a business use web scraping to collect data?

Nanonets

In today’s highly competitive business landscape, having access to updated and accurate data is imperative for an organization. However, constantly collecting and keeping this data updated is extremely time-consuming and resource-intensive. Hence, businesses must use automated data collection processes to gain a competitive advantage.  The digital age has ensured that most data organizations need is available online.

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New ProAdvisor Training Medium

Insightful Accountant

Intuit has just announced a new ProAdvisor Training Medium, the "In the Know Hub." You may be familiar with Intuit's monthly In the Know Webinars, well now they will be producing new recorded product content education for ProAdvisors.

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Ep. 262: Srinath Ganesan - Advancing AI: Ethical Considerations in Finance

IMA's Count Me

Tune into this compelling episode of Count Me In with guest Srinath Ganesan , the Director of Finance & Risk Solutions at SAP. Srinath unpacks the transformative role of AI in finance, presenting it as both an enabler and a crucial tool for ethical considerations. With a wealth of experience, he brings practical insights, discussing how AI streamlines processes like financial reporting and influences investment decisions.

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Stakeholder theory definition

Accounting Tools

What is Stakeholder Theory? Stakeholder theory takes a broad view of the constituencies that a corporation serves. A stakeholder is any person or entity that has a significant interest in the success or failure of a business. Stakeholders can have a significant impact on decisions regarding the operations and finances of an organization. Stakeholder theory states that the managers of a business must take into account the needs of all stakeholders, not just shareholders.

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