Majority of organizations now use AI in financial reporting
Accounting Today
NOVEMBER 2, 2023
A recent poll of finance leaders has found that the majority of organizations now use AI in at least some of their financial reporting process.
Financial Reporting Related Topics 
Finding and fixing the most common financial reporting mistakes
Accounting Today
AUGUST 17, 2023
Garbage in, garbage out — and sometimes garbage in between: Figuring out where these errors come from is critical for you and your clients.
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External financial reporting definition
Accounting Tools
MARCH 8, 2024
What is External Financial Reporting? External financial reporting includes financial statements , financial summaries, and related disclosures that are issued to users outside of a reporting entity. What are External Financial Reports?
Understanding Singapore Financial Reporting Standards (SFRS) for SMEs
Counto
MARCH 23, 2024
Understanding Singapore Financial Reporting Standards (SFRS) for SMEs Navigating Singapore’s financial reporting standards is crucial for SMEs. At Counto, we’re committed to simplifying complex concepts like the Singapore Financial Reporting Standards (SFRS) to empower your business.
Financial reporting issues and more engulf Byju's founder
Accounting Today
JULY 26, 2023
Apart from a raid by India's financial crime-fighting agency, the tutoring startup failed to file its financial accounts on time, and U.S. investors accuse it of hiding half a billion dollars.
What is Financial Reporting Automation?
Nanonets
JULY 25, 2023
Business today face the challenge of managing large volumes of financial data, producing accurate and timely reports so as to draw actionable insights from them. This is where financial reporting automation comes into play. What is financial reporting automation?
Applicable financial reporting framework definition
Accounting Tools
DECEMBER 23, 2023
What is an Applicable Financial Reporting Framework? An applicable financial reporting framework is the set of rules used as guidelines in the preparation of financial statements. The framework used is typically based on the type of business and where it is located, as well as the applicable laws.
What is ICFR? Internal Controls over Financial Reporting
Nanonets
FEBRUARY 9, 2024
It includes building an ecosystem on a foundation of trust and transparency, reassuring stakeholders and investors while offering the highest-quality financial data possible to drive accurate and effective operational decision-making. How Does ICFR Promote Stronger Financial Controls? Definition: What is ICFR?
Emily Fish on Trends in Financial Reporting
Insightful Accountant
FEBRUARY 1, 2024
Gary DeHart and Emily Fish, Director of Product Accounting for LeaseQuery, discuss Trends in Financial Reporting.
Financial reporting definition
Accounting Tools
APRIL 19, 2023
Related Courses New Controller Guidebook Public Company Accounting and Finance The Interpretation of Financial Statements What is Financial Reporting? Financial reporting is the financial results of an organization that are released its stakeholders and the public. What is Included in Financial Reports?
Financial Performance and Financial Reporting
Insightful Accountant
MAY 23, 2023
B2B CFO's Don King continues his multi-arc series on explaining why mastering these areas will help management monitor their financial performance and identify areas for improvement—among other things.
Optimizing 'day two' lease accounting for effective financial reporting
Accounting Today
AUGUST 23, 2023
To successfully navigate day two and beyond with lease contracts, organizations must move past manual processes and spreadsheets and instead implement lease accounting software solutions.
Financial Reporting and Forecasting in a Multidimensional World
Sage Intacct
JUNE 28, 2022
Even for seasoned SaaS CFOs that have been in the subscription revenue sector for years, reporting and forecasting can be daunting processes. Not to mention the tight deadlines finance teams frequently operate under.
The importance of General Ledger reconciliation for financial reporting
Nanonets
JULY 21, 2023
However, simply recording transactions in the general ledger is not sufficient to ensure accurate financial reporting. Ensure Financial Accuracy: Reconciling the general ledger helps ensure that the recorded account balances accurately reflect the actual financial transactions.
4 Ways Nonprofits Can Improve Their Financial Reporting
Insightful Accountant
JANUARY 16, 2023
Sage's Joan Benson discusses why nonprofits need more timely, insightful financial reporting to drive their mission forward.
Terrorist attacks and mass shootings can affect company accounting
Accounting Today
JANUARY 2, 2024
A study finds the negative effects of such events can lead to pessimistic risk assessments of financial reporting choices and a decline in accrual-based and real earnings management for companies in the impacted areas.
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IASB unveils financial performance standard
Accounting Today
APRIL 10, 2024
The International Accounting Standards Board has completed a new standard to give investors more readily comparable information about companies operating profits in one of the biggest changes to International Financial Reporting Standards in decades.
SEC to impose tougher rules on blank-check deals
Accounting Today
JANUARY 24, 2024
The agency is adding new financial reporting and accounting requirements for SPAC deals.
Streamlining Financial Processes: The Impact of Client Accounting Services on Efficiency
Accounting Department
MARCH 28, 2024
Efficient financial processes are essential for the success and growth of any business. However, managing tasks like invoicing, payroll management, and financial reporting can be time-consuming and complex, diverting valuable resources from core operations. This is where client accounting services come into play.
KPMG fined £1.5M over Saatchi audit failings
Accounting Today
MARCH 4, 2024
KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.
Auditing 323
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Hong Kong regulator to probe PwC auditing role over Evergrande
Accounting Today
APRIL 19, 2024
The Accounting and Financial Reporting Council will be investigating an anonymous whistleblower report alleging potential deficiencies in the firm's systems of quality management and the quality of its audits of the Chinese real estate giant.
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Audit partners see more use of AI at public companies
Accounting Today
DECEMBER 7, 2023
Nearly one-third of public companies are using artificial intelligence in their financial reporting, according to a new survey.
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Grifols drops as regulator finds 'relevant deficiencies'
Accounting Today
MARCH 22, 2024
Grifols SA shares dropped as investors evaluated a regulatory review of the Spanish bio-science company's financial reports, which found "relevant deficiencies" but no major accounting mistakes.
Key considerations for internal auditors in post-transformation integrations
Accounting Today
NOVEMBER 2, 2023
These audits are essential to ensure that integration processes are executed correctly, risks are identified and mitigated, and controls are in place to safeguard the organization's assets and financial reporting.
Dynamic Forecasting Keeps Business Owners in the Know
Accounting Department
MAY 16, 2023
Experienced business leaders know that accurately predicting future financial outcomes is a highly complex challenge. It’s a process not to be left only to logic that is based on reviews of combined financial reports from the past.
KPMG faces fresh questions over audits after New York Community turmoil
Accounting Today
MARCH 5, 2024
New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role. The auditing giant KPMG audited the three regional banks that failed last year.
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Outsourced Client Accounting Services: Streamlining Financial Management
Accounting Department
DECEMBER 21, 2023
The role of outsourced client accounting services goes beyond basic bookkeeping; it includes managing accounts payable and receivable, payroll processing, financial reporting, and more.
Accounting 220
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UK's accounting regulator in talks to move out of City of London
Accounting Today
MARCH 11, 2024
The Financial Reporting Council is considering either Canary Wharf or Stratford for its new main office.
Faber reappointed to lead ISSB
Accounting Today
DECEMBER 5, 2023
The International Financial Reporting Standards Foundation trustees reappointed Emmanuel Faber to serve a second term as chair of the International Sustainability Standards Board through the end of 2027.
Streamlining Financial Processes: How Client Accounting Services Drive Efficiency
Accounting Department
AUGUST 2, 2023
Efficient financial processes are essential for the success and growth of any business. However, managing tasks like invoicing, payroll management, and financial reporting can be time-consuming and complex, diverting valuable resources from core operations.
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U.K. regulator sees improvement at biggest audit firms
Accounting Today
JULY 6, 2023
s Financial Reporting Council published its annual inspection and supervision results of the largest audit firms, and said it found signs of continued improvement.
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Accounting Trends for 2024
Analytix Finance & Accounting
APRIL 23, 2024
Artificial Intelligence (AI) and Automation in Accounting Artificial intelligence and automation streamline manual tasks, reduce human error, and provide accountants with more time for strategic financial planning and analysis. Business owners can expect increased efficiency and cost savings by leveraging AI and automation. #2.
Accounting 52
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Top 10 Bookkeeping Mistakes Small Businesses Make and How to Avoid Them
Less Accounting
APRIL 2, 2024
Failing to reconcile your bank statements regularly can result in missed transactions, overdrafts, and errors in financial reporting. Misclassifying Expenses: Incorrectly categorizing expenses can distort your financial reports and skew your understanding of your business’s financial performance.
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Interim period definition
Accounting Tools
APRIL 28, 2023
Related Courses The Interpretation of Financial Statements What is an Interim Period? An interim period is a financial reporting period that is shorter than a full fiscal year. An interim period is also considered to be the standard monthly time period that most organizations use for their financial reporting.
IFRS definition
Accounting Tools
DECEMBER 17, 2023
IFRS is short for International Financial Reporting Standards. IFRS is the international accounting framework within which to properly organize and report financial information. What is IFRS? It is derived from the pronouncements of the London-based International Accounting Standards Board (IASB).
The difference between cost accounting and financial accounting
Accounting Tools
OCTOBER 27, 2023
Format The reports prepared under financial accounting are highly specific in their format and content, as mandated by either generally accepted accounting principles or international financial reporting standards. There is no regulatory framework governing cost accounting reports.
Supporting Small Businesses: Counto’s Free Multi-Currency Reporting in Every Accounting Plan
Counto
APRIL 4, 2024
At Counto, we recognise the importance of seamless financial management across borders, which is why all our accounting plans include free multi-currency support. The Importance of Multi-Currency Accounting in Financial Reporting 1. Other Considerations to Ensure Accurate Multi-currency Reporting 1.
Interperiod tax allocation definition
Accounting Tools
APRIL 17, 2024
An interperiod tax allocation is the temporary difference between the effects of tax policy on the financial reporting of a business and its normal financial reporting as mandated by an accounting framework , such as GAAP or IFRS. What is an Interperiod Tax Allocation?
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Accounting Firm Marketing In The Era of Generative AI
Earmark Accounting Podcast
NOVEMBER 3, 2023
Sponsor Check out our Sponsor LiveFlow — Advanced Financial Reporting on Autopilot Chapters (00:51) - Earn Free CPE credit (01:32) - David Toth joins the show to talk about marketing for accounting firms (04:53) - How marketing fits into accounting firm's strategic growth (07:02) - What has changed in digital marketing over the last few years?
CPA 104
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Guide to Virtual Bookkeeping and Automation
Nanonets
APRIL 3, 2024
Financial Reporting: Traditional bookkeepers assist in preparing financial statements, such as balance sheets, income statements, and cash flow statements, to provide insights into the company's financial performance. With QuickBooks, businesses can automate invoicing, bill payment, and financial reporting tasks.
Cost constraint definition
Accounting Tools
MARCH 5, 2024
When it is too expensive to do so, the applicable accounting frameworks allow a reporting entity to avoid the related reporting. While the cost constraint does exist, it can be difficult for a company to claim that it cannot report certain information when competing firms in the same industry are reporting that information.
GAAP: A Comprehensive Guide
Remote Quality Bookkeeping
JULY 24, 2023
This set of accounting principles provides standard rules and methods for businesses to collect and report financial information. In the United States, the Securities and Exchange Commission (SEC) requires publicly-traded companies to follow GAAP in their financial reporting.
8 Key Findings from the First Annual FinOps Tech Stack Efficiency Survey Results
Sage Intacct
OCTOBER 26, 2021
Sage Intacct, The SaaS CFO, and RevOps Squared conducted research throughout Summer 2021 to benchmark how recurring revenue companies managed the financial reporting process. As FinOps takes a bigger role in charting the growth of a SaaS company, what are the benchmarks for what to do, and when?
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How AI Is Revolutionising Accounting For Small Businesses
Counto
MAY 19, 2023
AI can streamline accounting processes, enhance the accuracy and efficiency of financial data analysis, and speed up financial reporting to levels previously unimaginable. In this article, we will delve into the exciting ways AI is transforming small business accounting and financial reporting.
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