Fri.Oct 20, 2023

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IRS introduces business tax accounts as it targets big corporations for audits

Accounting Today

The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.

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What is the Cost of Cloud Computing for Small Businesses?

Economize

Cloud computing is not merely a technological upgrade, it’s a business strategy that can significantly enhance operational efficiency, agility, and innovation, all while providing substantial cost savings. For small businesses operating with limited resources, understanding the investment required in cloud computing is crucial.

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Tech News: Deloitte launches DARTbot AI

Accounting Today

Plus, Bloomberg Tax & Accounting introduces AI lab; and other news from the accounting technology world.

Tax 321
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How Our FinOps Account Management Team Helps You Achieve Your Cloud Savings Goals

CloudZero

Our FinOps account management team is dedicated to your success. Here’s exactly what you can expect.

FinOps 94
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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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LBMC merges in Strothman & Co.

Accounting Today

The deal will expand the Top 40 Firm's footprint to Kentucky and Indiana.

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Separation of duties

Accounting Tools

Related Courses Accounting Controls Guidebook Accounting Procedures Guidebook What is Separation of Duties? The separation of duties concept prohibits the assignment of responsibility to one person for the acquisition of assets , their custody, and the related record keeping. For example, one person can place an order to buy an asset, but a different person must record the transaction in the accounting records.

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How to convert cash basis to accrual basis accounting

Accounting Tools

Related Courses Accountants' Guidebook Bookkeeping Guidebook Under the cash basis of accounting , business transactions are only recorded when the cash related to them is either issued or received. Thus, you would record a sale under the cash basis when the organization receives cash from its customers , not when it issues invoices to them. The cash basis is commonly used in small businesses, since it requires only a limited amount of accounting expertise.

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Ex-PwC partner at heart of Australia scandal gets eight-year ban

Accounting Today

Collins is "not a fit and proper person to provide financial services" and it is in the public interest for him to be barred from working in the sector, the Australian Securities and Investments Commission said in a statement.

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The difference between internal and external audits

Accounting Tools

Related Courses How to Conduct an Audit Engagement Internal Auditing Guidebook What is an Internal Audit? Internal audit refers to the department located within a business that monitors the efficacy of its processes and controls. The internal audit function is especially necessary in larger organizations with high levels of process complexity, where it is easier for process failures and control breaches to occur.

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Building the right culture

Accounting Today

Once you have the right people, how do you get them in the right place to maximize productivity and firm growth?

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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Accounting journal entries

Accounting Tools

Related Courses Accountants' Guidebook Bookkeeping Guidebook What are Accounting Journal Entries? An accounting journal entry is the method used to enter an accounting transaction into the accounting records of a business. The accounting records are aggregated into the general ledger , or the journal entries may be recorded in a variety of sub-ledgers , which are later rolled up into the general ledger.

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From Auditor to Google: How Mike Manalac Landed His Dream Job in Accounting

Earmark Accounting Podcast

Mike Manalac, AKA "Mike from Accounting," joins the show to share his inspiring career journey and unconventional path from public accounting to a dream role at Google. Despite accounting stereotypes, Mike crafted his adventurous route to his ideal job. He opens up about hustling into big tech, regrouping after rejection, taking calculated risks, and breaking out of the "lazy river" career approach.

CPA 59
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The difference between accounts receivable and accounts payable

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook Payables Management What is Accounts Receivable? Accounts receivable are the amounts owed to a company by its customers. Receivables are only created when sales are made on credit. What is Accounts Payable? Accounts payable are the amounts that a company owes to its suppliers. Payables are only created when purchases are made on credit.

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Aurora Vs. RDS: Choosing The Best AWS Database Solution

CloudZero

There are several high-performing database services available on Amazon Web Services (AWS). When you need to handle caching, Online Transaction Processing (OLTP), real-time data, session stores, or personalization, you can choose one of these options.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Partnership capital account definition

Accounting Tools

Related Courses Partnership Accounting Partnership Tax Guide What is a Partnership Capital Account? The partnership capital account is an equity account in the accounting records of a partnership. It contains the following types of transactions : Initial and subsequent contributions by partners to the partnership, in the form of either cash or the market value of other types of assets Profits and losses earned by the business, and allocated to the partners based on the provisions of the partners

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How AvidXchange Transformed Payment Processing for 9thWonder

AvidXchange

9thWonder is a strategic marketing, media and content agency that delivers best in class services to a range of Fortune 500 companies in the automotive, tech and CPG industries. With a network of seven agencies worldwide, 9thWonder provides clients with a holistic full-service experience that seamlessly takes a brand from digital and web development to social, media, creative and beyond.

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Creeping tender offer definition

Accounting Tools

Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Divestitures and Spin-Offs Mergers and Acquisitions What is a Creeping Tender Offer? A creeping tender offer is the gradual accumulation of a target company's shares , with the intent of acquiring control over the company or obtaining a significant voting block within it.

CPA 75
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The Top Trends Impacting Retail Finance Teams 

AvidXchange

Digital advancements are transforming the landscape of the retail sector. Both online and traditional brick-and-mortar stores are harnessing the power of digital tools for diverse applications, such as inventory control and tailored marketing strategies. As we approach 2024, innovation will take center stage for retailers aiming to streamline operations and refine marketing efforts.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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How to account for the sale of land

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets Accounting for the sale of land differs from the accounting for the sale of any other type of fixed asset , because there is no accumulated depreciation expense to remove from the accounting records. This is because land is not depreciated , on the theory that land is not consumed (as is the case with other fixed assets).

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CloudZero Introduces New Optimization Workflow To Help Engineers Find, Act On, And Track Savings

CloudZero

CloudZero’s overarching goal is to help companies maximize the return on their cloud investment. To do that, it’s essential that engineers be accountable for their cloud costs. They must prioritize cost equal to quality and security and keep costs in check from the earliest days of development through the most advanced stages of production.

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How to account for land improvements

Accounting Tools

Related Courses Fixed Asset Accounting Fixed Asset Controls How to Audit Fixed Assets Land improvements are enhancements to a plot of land to make the land more usable. If these improvements have a useful life , they should be depreciated. If there is no way to estimate a useful life, then do not depreciate the cost of the improvements. If land is being prepared for its intended purpose, then include these costs in the cost of the land asset.

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A Look Ahead at Financial Services Business Trends  

AvidXchange

Prevailing economic uncertainty is having a significant impact on financial institutions. Banks and credit unions are recalibrating their priorities and budgets, with a focus on growth, efficiency and talent retention. The key to achieving these objectives lies in digital transformation. With increasing demands from regulators coupled with a heightened need for governance, the finance departments of banks and credit unions are under considerable strain.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Why Should US CPA Firms Outsource Bookkeeping Services to India?

Outsourced Bookeeping

Efficiency, accuracy, and cost-effectiveness are the pillars of success for Certified Public Accounting (CPA) businesses worldwide in the ever-expanding world of accounting and finance. The issue of how to handle accounting services effectively becomes more and more important as the demands on these businesses increase due to complex financial rules, growing customer bases, and the requirement for cutting-edge technology.

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The Song of a Lovesick Accountant

Accounting Fun

The Song of a Lovesick Accountant How to account for your loss of interest? How to analyse your manner strange? Tell me truly of my errors: Narrate the reasons for this change. Your company and loving presence I value over all else on earth. If some goodwill can now be shown I venture we’ll see love’s rebirth. Reconciliation swift I now am seeking: This current impasse leaves me tense.

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Marginal profit definition

Accounting Tools

Related Courses Managerial Economics Revenue Management Revenue Recognition What is Marginal Profit? Marginal profit is the difference between the marginal revenue and marginal cost associated with a sale transaction. Thus, it is the incremental profit gained from generating one additional sale. Generally, a business should continue producing units as long as there is a marginal profit to be gained from each additional sale.

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What Credit Leaders Can Learn from Football

NACM

? On today's episode of Extra Credit.? Just as a football team relies on every player's commitment and passion to achieve victory, an organization thrives when its employees are fully engaged. Learn about lessons that every credit leader can learn from football to energize their teams and score business success.⭐ Hear from Jason Mott; Ronald Ser.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.

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Reciprocal method definition

Accounting Tools

Related Courses Activity-Based Costing Cost Accounting Fundamentals What is the Reciprocal Method? The reciprocal method uses simultaneous equations to allocate the costs incurred by service departments to other departments; allocations are also made between the service departments. This method results in an accurate distribution of costs. The method is rarely used, since there are somewhat less accurate methods available that require fewer calculations.

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Working capital loan definition

Accounting Tools

Related Courses Crowdfunding Corporate Finance Treasurer's Guidebook Working Capital Management What is a Working Capital Loan? A working capital loan is intended to finance the day-to-day operations of a business, paying for such short-term investments as accounts receivable and inventory. These loans typically have a short life, with repayment required within a few months.

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Critical success factor definition

Accounting Tools

Related Courses Business Strategy Key Performance Indicators What are Critical Success Factors? Critical success factors (CSFs) are activities that need to be done well in order for a business to achieve its mission. These are typically operational issues that employees are handling every day, and are the most important items that absolutely, positively must be done correctly.

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Absenteeism definition

Accounting Tools

Related Courses Human Resources Guidebook What is Absenteeism? Absenteeism is a pattern of absence from work. It does not include any situations in which a person’s absence is expected, such as an excused absence for jury duty. An excessive level of absenteeism can be quite expensive for an employer , since replacement workers (who are likely less efficient ) must be brought in on short notice.

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Unlock The Blueprint: How To Construct A Better Payment Workflow

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.