Sat.May 04, 2024 - Fri.May 10, 2024

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Reporting expenses by function

Accounting Tools

What Does it Mean to Report Expenses by Function? When expenses are reported by function, they are being reported by the type of activity being conducted. Examples of income statement line items that are presented by function are administrative expenses , financing expenses, manufacturing expenses, marketing expenses, and selling expenses. Or, a nonprofit entity that reports expenses by function could do so by aggregating its expenses into the following general functions: Programs, fund raising,

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6 ways to use AI in your firm

Accounting Today

They say artificial intelligence will change the world, and in many ways, it already has. But AI's rapid advancements have been a source of stress for professionals like accountants. Will you be automated out of a job?

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From Super Nintendo to Silicon Valley: Petagae Butcher on paving a career in tech

Intuit

This interview was originally published on POCIT. Petagae Butcher’s introduction to technology started with a love of Super Nintendo in the 90s. She later graduated from the University of Central Florida with a degree in Management Information Systems, initially majoring in Computer Programming, finding her niche bridging the technology and business worlds.

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Recognizing Our Military Spouses - Happy 2024 MilSpouse Appreciation Day!

Accounting Department

Our AccountingDepartment.com family is proud of its vibrant and diverse “cast of characters”—we span the country with our team members coming from all backgrounds and personalities. Included among our team are some amazing Military Spouses whose hard work, dedication, and contributions are part of what makes our family so strong—and theirs as well.

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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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Fidesic Launches New MoversSuite Integration for Dynamics ERP Accounts Payable

Fidesic blog

Fidesic and EWS Group have partnered to better support moving companies using MoversSuite with integrations to Microsoft Dynamics GP or Business Central.

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Generative AI may let tax pros charge more

Accounting Today

A recent survey has found that 40% of tax professionals believe generative AI will allow them to demand higher rates, in comparison to 6% who said rates will decrease.

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Digital 55 – Pioneering Creative Content with A Strategic Financial Partnership

FundThrough

Introduction Crafting the Future of Content through Strategic Financial Agility Digital 55, an avant-garde digital studio, blends creative storytelling with cutting-edge technology to produce dynamic media and digital learning experiences. Under the leadership of founder and Chief Creative Officer, Lauralee Sheehan—an indie musician turned digital innovator—the company has carved a niche in creating impactful digital […] The post Digital 55 – Pioneering Creative Content with A Strategic Fi

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"Thank You" Intuit Trainer/Writer Network Members

Insightful Accountant

While Intuit has sunset the Trainer/Writer network and gone back to the drawing board on how to provide training and education for the QuickBooks Community, Insightful Accountant wants to thank all Trainer/Writer Network members.

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PCAOB sanctions auditors over audit evidence

Accounting Today

The Public Company Accounting Oversight Board sanctioned three auditors from Florida accounting firm Liggett & Webb for violations involving audit evidence, professional skepticism, and other matters.

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This tax season, we saw more reasons why the tax code should be more simple, fair, and transparent

Intuit

Over the last 30 years, the tax code has more than tripled in size. That’s three times the amount of complexity and headaches for many families. For our Intuit TurboTax customers, we’ve helped make the complicated easy for decades, continuously improving and evolving our product to help taxpayers navigate the pages, and pages , and pages of complicated code.

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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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The Ultimate Guide to Automated Bookkeeping Software

Dext

In recent years, technology in bookkeeping has developed at a rapid pace. Driven by the continued rollout of the governments’s initiatives (such as Making Tax Digital in the UK, or GST in Australia), these tools have evolved to automate an ever-increasing range of bookkeeping tasks that were once tedious and time-consuming.

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Contributing App Analysts for eCommerce Needed

Insightful Accountant

While we received some 'generic' App interest to our last posting, Insightful Accountant is currently looking for a few good ProAdvisors who can provide analysis specifically of eCommerce apps.

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CLA acquires AI company Engine B

Accounting Today

CliftonLarsonAllen, a Top 10 Firm, has acquired Engine B, a London-based company that helps accounting firms get more insights from their clients' data, effective May 1.

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Greg Johnson returns to Intuit as EVP, Chief Commercial Officer and Global Small Business Self Employed Group Chief Revenue Officer

Intuit

Greg Johnson, has returned to Intuit as EVP, Intuit Chief Commercial Officer and Global Small Business Self Employed Group Chief Revenue Officer. In his Chief Commercial Officer role, Greg will partner across Intuit brands to accelerate Intuit’s commercial growth strategy. This will include customer-back segmentation, product lineup, pricing, and go-to-market activities, as well as brand, marketing and communications for the company.

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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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Essential Steps When Changing Your Company’s Registered Address in Singapore

Counto

Essential Steps When Changing Your Company’s Registered Address in Singapore When you change your company’s registered address in Singapore, it’s crucial to ensure all related legal and operational updates are handled meticulously to comply with local regulations and maintain smooth communications. 1. Update Your Company Secretary Records As a general rule, it is crucial to notify your company secretary of any changes to your company’s information and/or address.

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Getting to Know QuickBooks Desktop Alternatives

Insightful Accountant

During the upcoming Insightful Accountant Future Forward Event Murph will be presenting two sessions on Migrating from QuickBooks Desktop. One focuses on apps suitable for QBD Pro users, and the other QBD Premier users.

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House approves repeal of SEC crypto rule

Accounting Today

The House passed a bill that would repeal the SEC's SAB 121, which requires custodians to list digital currency as a liability on their balance sheets. However the president said he'd veto the bill.

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Double-Entry Bookkeeping Explained

Dext

What can double-entry bookkeeping teach you about your business? As a business owner, you might not have given double-entry bookkeeping much thought. While you don’t need to worry too much about the mechanics of it, the figures that the process generates can unlock a huge amount of invaluable business intelligence.

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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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How to Apply for Halal Certification: A Comprehensive Guide for SMEs

Counto

How to Apply for Halal Certification: A Comprehensive Guide for SMEs Navigating the Halal certification process can seem daunting, but it’s a powerful strategy for businesses aiming to expand their reach and cater to Muslim consumers. At Counto, we’re dedicated to simplifying this process for SMEs, small business owners, and entrepreneurs.

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Insightful Accountant's Top 50 International ProAdvisors for 2024

Insightful Accountant

Insightful Accountant is proud to announce our Top 50 International ProAdvisors for 2024. Congratulations to this year's International award recipients.

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Sikich gets $250M PE funding from Bain

Accounting Today

Sikich LLC, a Top 50 Firm based in Chicago, has snagged a $250 million minority investment from private equity firm Bain Capital to fund further acquisitions and growth, becoming the latest in a series of firms to score PE money.

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How to Choose Between Accounts Receivable Factoring and Financing: Key Considerations

FundThrough

In this current economic environment, healthy cash flow is critical. According to a JP Morgan & Chase report, only half of all small businesses hold a cash buffer of less than one month. For companies facing the challenge of maintaining a robust cash flow, deciding on the right lending partner and/or financial solution is key. […] The post How to Choose Between Accounts Receivable Factoring and Financing: Key Considerations appeared first on FundThrough.

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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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Navigating Debt Collection Challenges in the Tech Industry

Enterprise Recovery

The tech industry is known for its rapid growth and innovation but faces unique challenges regarding debt collection and non-paying clients. Understanding the intricacies of debt collection in this sector is essential for companies to recover payments and maintain financial stability. Learn more about the complexities of debt collection within the tech industry and the strategies for successful payment recovery.

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Data Cleanup: Balancing the Balance Sheet

Insightful Accountant

In preparation for next week's QB Talks about Finding and Cleaning Up Bad Data, I thought I'd talk about one of my favorite issues. Failure to Balance the Balance Sheet.

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Ohtani interpreter to plead guilty to bank fraud

Accounting Today

An interpreter for the Los Angeles Dodgers star has agreed to plead guilty to criminal charges including filing a false tax return after secretly transferring about $17 million from the player's account to pay off gambling debt.

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Will AI Replace Accountants? (Find The Answer)

Ace Cloud Hosting

Will AI replace accountants in near future? It’s a question on many minds. The world is evolving fast, especially with technology. As someone in accounting, you’re probably curious about what.

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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.

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The difference between authorized and outstanding shares

Accounting Tools

What are Authorized Shares? Authorized shares are the number of shares that a corporation is legally allowed to issue. The number of authorized shares is initially set in a company's articles of incorporation. The shareholders can increase the number of authorized shares at any time at a shareholders meeting, as long as a majority of shareholders vote in favor of the change.

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Tether's $109 Billion Question: Where's the Audit?

Blake Oliver

$109 billion. That's the market cap of Tether , the world's largest stablecoin. It's also the amount of money effectively backed by nothing more than a pinky promise. In a recent episode of The Accounting Podcast , my co-host David Leary and I delved into this topic. We discussed the staggering lack of transparency surrounding Tether and the potential ramifications for the entire cryptocurrency market.

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Making the (use) case for AI

Accounting Today

Accounting firms that have embraced artificial intelligence are primarily using it to analyze documents, automate tasks and bolster client communication.

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How TaxAct on Cloud Can Benefit Your Tax Firm

Ace Cloud Hosting

TaxAct is a comprehensive tax preparation and filing software for individuals and firms. It offers online and desktop-based software enabling users to file federal and state tax returns. This tax.

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Global Accounting Principles and Commission Capitalization

Speaker: Ryan Dillard, Chief of Staff Director at CBIZ ARC Consulting LLC; Kelly Hicks, Global Controller at Airbase

ASC 606 is the revenue recognition standard that sets global accounting principles for all private or public companies that enter sales agreements or contracts with customers. Along with ASC 606, ASC 340-40 was added to address accounting costs to obtain a contact and costs to fulfill a contract. Join us for this webinar when Airbase Controller Kelly Hicks and Ryan Dillard, a Director at CBIZ ARC Consulting explore how to approach capitalizing sales commissions under ASC 340-40.