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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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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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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5 Steps to Shield Your Business: The Ultimate Guide to Avoiding Payment Fraud

As scams grow more sophisticated, it's crucial to stay proactive in defending against these threats. This guide equips CFOs, accountants, and business leaders with five essential steps—from fundamental safeguards to advanced security measures to strengthen your financial defenses. From enhancing data security to implementing fraud detection tools and safeguarding financial transactions, this guide provides expert advice that could save your company millions.

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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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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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Navigating financial metrics: Why the Current Ratio is key for your business

Ontrack Bookkeeping

Ever felt like the term “current ratio” sounds like something straight out of a high school mathematics class that you’d rather forget? You’re not alone. But here’s the thing – understanding the current ratio can be a game-changer for managing your business’s financial health. Here’s a simple breakdown. What is the Current Ratio?

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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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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!