Tue.Aug 06, 2024

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Accounting talent shortage worsens

Accounting Today

As the pipeline dries up, 83% of senior leaders report a talent shortage this year, up from 70% in 2022, with 10% this year saying it's worsening.

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Overcoming Hurdles with Outsourced Client Accounting Services

Accounting Department

As a business owner, you can face various challenges, from any direction. From staffing woes to cash flow issues and the ever-growing threat of cybercrime, you’re constantly juggling risk and reward to keep your business afloat.

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FASB releases 2024 Investor Outreach Report

Accounting Today

The document includes the top priorities outlined by investors.

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Missing out on sales? You’re not alone

Xero

Most major economies have had tepid growth, at best, in recent quarters. But how are things on the ground? If you’re a small business owner and you’re thinking that things feel tougher than what national statistics seem to be saying about the broader economy, you’re not alone. The Xero Small Business Insights (XSBI) data shows a lot of small businesses aren’t growing as fast as the major economic indicators suggest.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Study finds accountants slow to adopt gen AI

Accounting Today

When asked to rate how much they use generative AI tools on a scale from 1-10, accountants rated their overall use at 1.

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Gaviti’s Q3 Product Release

Gaviti

We are excited to announce the release of several new features and product improvements to Gaviti. Many these additions came from customer requests, so we hope you are as excited as we are. Actions in Bulk Sometimes you have a change in strategy and you need to segment your customers differently. To help with this we have added the ability to mass update flags, tags and custom fields for multiple customers at once.

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Retrieval Augmented Generation (RAG) for Smarter AI Workflows

Nanonets

Introduction Retrieval Augmented Generation, or RAG, is a mechanism that helps large language models (LLMs) like GPT become more useful and knowledgeable by pulling in information from a store of useful data, much like fetching a book from a library. Here’s how retrieval augmented generation makes magic with simple AI workflows: Knowledge Base (Input) : Think of this as a big library full of useful stuff—FAQs, manuals, documents, etc.

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Ex-Wirecard CFO charged in ongoing accounting scandal

Accounting Today

An ex-board member was also charged in the long-running scandal, both for breach of trust in approving sketchy loans.

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Do Business Owners Have to Pay Unemployment on Themselves?

CSI Accounting & Payroll

Recently, a small business owner told us they’d been paying unemployment taxes on their own wages but didn’t feel that was correct. They didn’t know if they could even collect unemployment, so why would they be paying it? Answers to this can vary based on your state and circumstances.

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TaxDome launches TaxDome AI for document management

Accounting Today

TaxDome announced the release of TaxDome AI, meant to facilitate document management tasks.

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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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Data annotation tools: A comprehensive overview

Nanonets

Data annotation tools are the unsung heroes of AI and machine learning. From self-driving cars to AI-powered healthcare systems, these tools play a crucial role in ensuring the success and accuracy of AI projects. They enable the labeling and categorization of vast data, transforming raw information into high-quality, annotated datasets from which AI and ML models can learn.

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Boomer's Blueprint: Transactional + transformational growth

Accounting Today

Firm leaders face the twin challenges of managing current operations while positioning themselves for future growth.

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Warehouse Wednesday: Murph's Acumatica Intro

Insightful Accountant

Murph introduces you to Acumatica In-depth, which he will begin posting to "Be Insightful" Premium Content next week. This new multi-part series is one of several looking at various ERPs to which QuickBooks users may migrate.

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Secrets to Remote Work Success from a 100% Virtual Accounting Firm

Blake Oliver

While some accounting firms pull partners and staff back into the office, others stick with remote work. That’s because they’ve changed how they hire and manage staff. And you can, too.

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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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Cherry Bekaert Acquires Kerr Consulting

Insightful Accountant

Cherry Bekaert, a U.S. assurance, tax, and advisory firm, has acquired top-tier accounting software provider Kerr Consulting.

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Common stock dividend distributable

Accounting Tools

What is the Common Stock Dividend Distributable? A common stock dividend distributable is a dividend payable to the holders of a corporation’s common stock that has been declared by the entity’s board of directors , but not yet paid. Once declared, this amount is classified as a liability of the corporation. It is usually classified as a current liability on the entity’s balance sheet, since it is (usually) to be paid out within one year.

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QB Talks to feature 2024 ProAdvisor of the Year - Caleb Jenkins

Insightful Accountant

Caleb Jenkins, the 2024 ProAdvisor of the Year, will be among several of the 2024 ProAdvisor Award recipients at the August 21 edition of QB Talks. You shouldn't miss this opportunity to hear what it takes to be recognized within the Top 100.

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Capital addition definition

Accounting Tools

What is a Capital Addition? A capital addition is any investment that improves upon an existing fixed asset or adds a new fixed asset. In essence, capital additions increase the fixed asset base of an organization. Capital additions that involve existing assets must either extend the useful life of an asset or increase its capacity ; otherwise, these expenditures are really just maintenance expenditures that are charged to expense as incurred.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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Essential HR Strategies For Accounting Professionals

Insightful Accountant

Michelle Leblanc shares the key strategies and pitfalls Accounting Professionals need to be aware of when running their firm or when consulting with their clients on related matters.

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What Are the Benefits of Credit Management?

oAppsNet

Credit management is essential to running a successful business, particularly in industries where extending credit to customers is expected. Proper credit management practices provide numerous benefits, including improved cash flow, reduced risk of bad debts, and enhanced customer relationships. Understanding these benefits can help businesses implement effective credit management strategies and achieve long-term financial stability.

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Navigating Change in the CPA Industry: A Guide for Tax Practice Leaders

Insightful Accountant

The landscape of the CPA industry is undergoing a seismic shift, presenting both challenges and opportunities for tax practice owners and managers. At the heart of this transformation lies the critical issue of talent acquisition and retention.

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Harris' tax policy positions begin to take shape

Accounting Today

While the candidate hasn't spoken much about taxes on the trail, her record offers some clues.

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How to Modernize Manufacturing Without Losing Control

Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives

Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri