Wed.Apr 17, 2024

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The IRS 2024 Dirty Dozen

Accounting Today

A phish, a mill and a stroll overseas are just three of the 12 major scams the Internal Revenue Service identified for this year's rogues gallery.

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So… what is carbon accounting?

Xero

Understanding the environmental impact of your business is critical in today’s business environment — and carbon accounting is a fundamental step in this process. With carbon accounting increasingly becoming another compliance measure mandated by regulators, businesses of all types and sizes need to get their emissions numbers in order. This is particularly true if you’re a small business that provides goods and services to a larger organisation.

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Students take a new path to 150 hours

Accounting Today

The first class members of the AICPA and NASBA's pilot Experience, Learn & Earn program are completing their inaugural semester.

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Check Processing Made Easy with Biller Genie Check Scanning

Accounting Department

Our friends at Biller Genie have announced a new software update that is packed with new features designed to streamline the check processing process and enhance the financial operations of businesses. This update introduces innovative features that will revolutionize how businesses manage paper checks and adapt to the future of accounting software integrations.

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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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Commitment to DEI is a leadership imperative

Accounting Today

Diverse teams and inclusive work environments produce better results.

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Why Accounting Firms Should Budget for Managed Security Services in [2024]

Ace Cloud Hosting

Data breaches are on the rise. According to Statista, data breaches impacted 353 million individuals in 2023. Hence, with the increasing cyber threat spectrum, cybersecurity has been a focus for.

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QB Talks will 'get you ready' for Modern View Reports in QBO

Insightful Accountant

Get a jump on transitioning to the new 'Modern View' Reports that Intuit is starting to roll out into QuickBooks Online by attending Insightful Accountant's QB Talks on April 24, 2024 at 2:00 Eastern Daylight Saving Time.

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The rise of the remote partner

Accounting Today

The process of becoming a remote partner isn't much different from the traditional path — but it may take a little extra effort.

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International Coverage: Mimo Lauches Platform to Simplify B2B Payments

Insightful Accountant

SMB Financial Management Platform Mimo Raises £15.5M and Launches Platform To Simplify B2B Payments. Mimo's financial suite enables businesses to easily manage money-in and money-out, and is already processing millions of pounds in payments for SMBs.

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Hedge fund founder on trial in £1.4B tax scam

Accounting Today

Cum-Ex was a tax-driven trading strategy in which bankers, lawyers and others exploited dividend payout laws across Europe to reap duplicate tax refunds.

Tax 177
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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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A Guide to New FWA Guidelines for Singapore SMEs from Dec 2024 

Counto

A Guide to New FWA Guidelines for Singapore SMEs from Dec 2024 Starting December 1, 2024, Singapore will see a significant shift towards supporting flexible work arrangements (FWAs), as mandated by the newly established Tripartite Guidelines. At Counto , we understand the intricacies these changes bring, particularly for SMEs, and are here to help you navigate through them effectively.

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Video summaries take center stage at tax time

Accounting Today

There are just three things clients want to know at tax time, and video summaries can provide the answers.

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Thomson Reuters Envisions Providing GenAI To Entire Customer Experience

Insightful Accountant

Thomson Reuters has just announced an expanded vision based on providing GenAI assistant for every professional it serves.

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Uber raided in tax probe of Portuguese partners

Accounting Today

Food delivery fleets allegedly used false invoices that didn't match the services they provided.

Tax 177
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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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The difference between direct and indirect labor

Accounting Tools

What is Direct Labor? Direct labor includes all labor that varies with production volume. This means the classification is generally limited to those people working on an assembly line or operating production machinery. What is Indirect Labor? Indirect labor is all types of support and supervisory labor, such as janitorial, maintenance, administrative, and management employees.

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Treasury cash balance hits 2-year high as tax payments rise

Accounting Today

Payments poured in at the government's mid-April deadline for income taxes.

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Life cycle costing definition

Accounting Tools

What is Life Cycle Costing? Life cycle costing is the process of compiling all costs that the owner or producer of an asset will incur over its lifespan. These costs include the initial investment , future additional investments, and annually recurring costs, minus any salvage value. Life cycle costing is more heavily used by businesses that place an emphasis on long-range planning, so that their multi-year profits are maximized.

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Artificial Intelligence: AI Demystified

Oversight

So, what IS this thing called ‘AI’? That’s an intelligent question nobody should be afraid to ask. Here’s a reasonable working definition to start off with: ‘AI is the ability of a computer or machine to do what previously only humans could do.’ After all, machines have been doing stuff we can do - walking, running, hauling, writing, for centuries. But better.

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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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Profit maximization vs. wealth maximization

Accounting Tools

What is Profit Maximization? Profit maximization is the process by which a business arranges its prices and cost structure to achieve the highest possible profit. The central goal of the organization is to increase its profits. This is a short-term goal, since profits can be maximized to the detriment of customers, who may become annoyed at excessively high pricing, and take their business elsewhere over the long term.

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BigQuery Data Canvas: The Next Big Thing In Data Analytics

Economize

Introduction to BigQuery Data Canvas BigQuery Data Canvas, introduced at Google Cloud Next ’24, marks a significant advancement in the field of data analytics. This innovative platform redefines how data professionals interact with and analyze data by integrating a natural language-driven user experience into Google Cloud’s robust data analytics suite.

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The 4 Goals of Your Discovery Calls

Future Firm

Discovery calls are set up with potential clients to assess and secure new business. Find out how to get maximum leverage from these calls. The post The 4 Goals of Your Discovery Calls appeared first on Future Firm.

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Mastering Remote Employee Onboarding: A Strategic Guide for SMEs

Counto

Mastering Remote Employee Onboarding: A Strategic Guide for SMEs Remote work has transformed how we onboard new employees, making it essential for businesses, especially SMEs, to adapt their onboarding processes effectively. At Counto , we’re committed to helping small businesses thrive by equipping them with the strategies needed for successful remote employee integration.

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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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Seeking an Accounting Manager

Reconciled Solutions

Seeking an accounting manager to help our clients gain visibility and clarity to their financials and run a sustainable business. The post Seeking an Accounting Manager appeared first on Reconciled Solutions.

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Understanding Bank Reconciliation Journal Entries

Nanonets

Introduction to Bank Reconciliation Journal Entries Bank reconciliation is an important process in accounting that ensures the accuracy and integrity of a company's financial records. It involves the comparison between the company’s internal financial records and those of the bank. At the heart of this reconciliation lies the creation of journal entries, which serve to align discrepancies between the company's books and the bank statement.

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Building QuickBooks Online Habits: 5 Things You Should Do When You Log In

Reconciled Solutions

Not all habits are bad. Here are five good QuickBooks Online habits you should develop during each work session. The post Building QuickBooks Online Habits: 5 Things You Should Do When You Log In appeared first on Reconciled Solutions.

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Choosing Between AWS, Azure, and Google Cloud

finout

When it comes to selecting a cloud computing platform, businesses are faced with several powerful options, each with its own unique advantages and capabilities. Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) are three of the major players in this space. The choice among them should align with your specific needs such as scalability, integration capabilities, and the level of technical support required.

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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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Second-order revenue definition

Accounting Tools

What is Second-Order Revenue? Second-order revenue is sales that are indirectly generated by an initial customer purchase. This revenue can come from a variety of activities, such as customer referrals, repeat purchases from original customers, or even customers changing employers and buying the product again at their new employer. These sales differ from first-order revenue, which is derived from initial sales to customers.

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Top Alternatives to Quickbooks in 2024

Nanonets

QuickBooks is one of today’s top accounting and bookkeeping platforms, and its reputation is well-deserved. Dominant across multiple industries and popular with most business sizes, from freelance solopreneurs to enterprise megaliths, QuickBooks covers most common accounting bases and is a well-rounded, general-purpose tool that legions of clients and fans enjoy.

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Wasting asset definition

Accounting Tools

What is a Wasting Asset? A wasting asset is any asset that will decrease in value over time, and which has a specific useful life. The concept can be applied to fixed assets and natural resources, but is sometimes also applied to certain financial instruments. In most cases, a decline in value is reflected in a reporting entity’s accounting records by an ongoing depreciation or depletion charge.

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Biden mocks Trump Media share drop in broadside over tax plan

Accounting Today

Biden's comments, timed to follow Tax Day, sought to highlight differences between his tax and economic agenda and Trump's.

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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.