Sat.Apr 06, 2024 - Fri.Apr 12, 2024

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PCAOB levies $27M in fines for exam cheating

Accounting Today

The board imposed its largest-ever penalty of $25 million against KPMG's firm in the Netherlands, in addition to $2 million in fines against Deloitte's firms in Indonesia and the Philippines.

Auditing 305
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Tackling Growth and Compliance Tax Challenges with Avalara

Accounting Department

As small and medium-sized businesses undergo rapid expansion and growth, they are often faced with a myriad of sales tax challenges, particularly within the retail and e-commerce sectors. The complexities of managing sales tax compliance can be overwhelming for smaller businesses, especially when juggling various omnichannel strategies to handle their financial operations.

Tax 215
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What is labour productivity and how does it impact your business?

Xero

If you or your clients are looking for ways to grow profits, drop prices or pay staff more, then one strategy is to lift productivity in your business. But what is productivity exactly (hint: it’s not about working longer hours), and how can you lift it in your small business or practice? What is small business productivity? Small business productivity is the measure of how much value a business can produce using the resources it has at its disposal (ie staff, capital, materials).

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Simplifying Family Tax Credits: Why it Matters and What Can Be Done

Intuit

We have recently seen quite a bit of discussion in Congress about family tax credits, and, in particular, the EITC and CTC. In fact, the US House of Representatives passed bipartisan legislation to expand the CTC, a proposal that according to some would benefit 16 million children from low-income families and in its first year, raising 400,000 children above the poverty line.

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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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Tax season so far: Eclipsing last year

Accounting Today

At 90,315,000, the number of individual returns received this tax season finally surpassed the same period last year, up 0.2% as of March 29, 2024.

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The Hidden Key to Profits: Understanding Opportunity Cost in Small Business

Accounting Department

In the competitive world of small business, every decision can determine the trajectory of success or failure. One concept that lies at the heart of strategic business decisions but is often overlooked is opportunity cost. It's not just an economic theory; it's a practical metric that every small business owner and entrepreneur should master to make better choices and drive competitive advantage.

More Trending

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Why a Reliable Data Lake Is Critical to FinOps Success

FinOps Foundation

Key Insight: FinOps success results from getting FinOps practitioners, product teams, and engineers to think cost-first with architectural decisions, and that starts with clean, reliable data. One of Tim’s biggest challenges is bringing so much data together for analysis. Walmart built a data lake where they store several years of raw data in object storage so they can go back and re-parse it in different ways.

FinOps 130
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IMA sees role for AI in accounting

Accounting Today

The Institute of Management Accountants is examining the possibilities of artificial intelligence in the accounting profession while undergoing staff cutbacks.

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Ascend Software Unveils Payments Automation Solution

Ascend Software blog

Ascend Software, a certified Workday Financial Management partner and leading innovator in Accounts Payable Automation, is launching its latest offering, Ascend Payments. This new feature enables businesses to streamline payment processes, enhance operational efficiency, unlock significant cost savings, and turn supplier payments into revenue-generating opportunities.

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What is JustPay? Finding the Right AP Tools

Fidesic blog

In this blog post we will tell you what JustPay is, who it's for and how it can help you improve your accounting department.

AP 130
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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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Exploring Assistance Options for Taxpayers Struggling with Tax Bills

Insightful Accountant

Taxpayers who can't pay their tax bill by the April 15, 2024, deadline shouldn't panic – the IRS is here to help. There are several options to help taxpayers meet their obligations.

Billing 105
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AI targets tax refunds, and other tech stories you may have missed

Accounting Today

Plus, Google is making massive changes to Chrome, AI-powered tax chatbots aren't performing well, and seven other things that happened in technology this past month.

Tax 305
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Startup Tax Exemptions: Unlocking Savings with Expert Strategies and Real Examples

Counto

Startup Tax Exemptions: Unlocking Savings with Expert Strategies and Real Examples At Counto, we’re not just about numbers; we’re about making the complex world of taxes simpler for you. Today, we’ll have a closer look at startup tax exemptions, an essential piece of knowledge for every new business owner and entrepreneur. Startup Tax Exemption Scheme (SUTE) with Example Eligible for startups in their first three consecutive tax returns, the Tax Exemption Scheme for startups signific

Tax 98
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The 5 Best Collections Email Templates

Gaviti

Anyone who’s worked in accounts receivables knows how valuable a good collections email template can be. Accounts receivable collections rely on clear communication with customers, both in delivering accurate invoices on time and ensuring those invoices get paid. An A/R collections email template supports quick and efficient communication between you and your clients.

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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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Job Declines vary by Region and Sector during March, 2024

Insightful Accountant

The 'far west' was the only geographic region to suffer a negative net change in employment in March. Wholesale and Construction led the way in net job growth among all employment sectors during the same period.

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Tax season nears its end, but uncertainties linger

Accounting Today

From BOI reporting to tax legislation in limbo, even the most 'normal' filing season in a several years still has unresolved questions.

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Preparing Your Business For A Debt Collection Agency

Enterprise Recovery

Is your business struggling with unpaid invoices or clients not paying on time? Many companies often turn to professional debt collection agencies for assistance when this happens. Before you hand over your delinquent accounts to a collection agency, it's important to understand their role and how they can help your business. Learn how to effectively prepare your business for working with a debt collection agency to recover outstanding payments.

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SaaS Billing Best Practices: What You Need to Know

Billing Platform

Showing no signs of slowing, a recent Statista report forecasted that the software as a service (SaaS) market is expected to grow at an annual rate of 7.33% (CAGR 2024 – 2028), reaching $374.50 billion by 2028. However, when it comes to managing recurring billing, revenue recognition, plan renewals, etc., companies doing SaaS billing face hurdles in achieving their full revenue potential.

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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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Critical Accountant Shortage

Insightful Accountant

Accounting profession faces staffing shortages due to fewer graduates and an aging workforce. 42% of firms turn away work, 24% near burnout. First-time CPA exam candidates dropped by 33% from 2016 to 2021.

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IRS warns tax pros to beware of spearphishing attacks

Accounting Today

The Internal Revenue Service urged tax professionals to steer clear of so-called "spearphishing" scams from cybercriminals, including identity thieves posing as new clients.

Tax 288
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The Art of Client Onboarding Bookkeeping Clients: How to Set The Stage for Great Client Relationships Through Carefully Crafted Emails.

LedgerDocs

As the famous saying goes “ you never get a second chance to make a first impression”. This is especially true when working with clients. How the onboarding process begins, sets the tone for the entire client relationship. From the initial contact to gathering necessary information and setting expectations, client onboarding that has been done with careful planning and attention to detail sets you up for success. 1.

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Other assets definition

Accounting Tools

What are Other Assets? Other assets is a grouping of accounts that is listed as a separate line item in the assets section of the balance sheet. This line item contains minor assets that do not naturally fit into any of the main asset categories, such as current assets or fixed assets. Examples of Other Assets There are several types of assets that can be included in the Other Assets classification.

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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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Murph's first look at 2024 ProAdvisor App Preferences

Insightful Accountant

The formal applications submitted by Top 100 ProAdvisors contain a wealth of information. Part of that information reflects how these 'Pros' interact with apps and software. Here's my first look at the 2024 Domestic data.

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On the move: Sax hires first CIO

Accounting Today

CohnReznick launches new digital advisory practice; Kruze Consulting and KPMG separately release CEO reports; and more news from across the profession.

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Top Remote Accountants for Hire | April 11, 2024

accountingfly

Top Remote Accounting Candidates This Week Looking for remote accountants? Accountingfly can help! With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accountants with no upfront cost. These are just a few of our top candidates this week. Sign up now to receive our full list of top accounting candidates available weekly!

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Manufacturing overhead definition

Accounting Tools

What is Manufacturing Overhead? Manufacturing overhead is all indirect costs incurred during the production process. This overhead is applied to the units produced within a reporting period , so that the cost of these units are fully burdened with all manufacturing costs. These costs are then charged to the cost of goods sold as the units are sold over time.

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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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Unlocking the Power of Custom Reporting in QuickBooks Online’s New Modern View

Insightful Accountant

The new Modern Reports have been out for over a year in QBO Advanced, and they offer substantially more powerful reporting capability than the Classic reports we’ve long been used to.

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Jackson Hewitt settles 'no-poach' case for $10.8M

Accounting Today

The tax prep giant settled a proposed class-action suit that said it schemed to prevent employees from moving between corporate and franchisers.

Tax 305
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Is AI Overhyped? Is CAS a Necessity? These Questions and More w/ Daniel Hood

Jetpack Workflow

Podcast Summary On this episode of Growing Your Firm, host David Cristello interviews Daniel Hood , the editor-in-chief of Accounting Today. With over two decades of experience in the industry, Daniel shares insights into the evolving trends in accounting firms and the push for advisory services. Tune in to gain a deeper understanding of the future of accounting and the role of technology in shaping the industry.

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Accounts receivable aging definition

Accounting Tools

What is the Accounts Receivable Aging Report? An accounts receivable aging is a report that lists unpaid customer invoices and unused credit memos by date ranges. The aging report is the primary tool used by collections personnel to determine which invoices are overdue for payment. Given its use as a collection tool, the report may be configured to also contain contact information for each customer.

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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.