Wed.Jul 10, 2024

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The Fastest-Growing Firms: The secret sauce of growth

Accounting Today

Some of Accounting Today's fastest-growing firms share what turbo-charged their expansion over the past year.

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Day 2 Keynote at FinOps X 2024

FinOps Foundation

Key Insight: The 2024 Day 2 Keynotes brought something brand new to FinOps X: feature announcements from the three largest clouds. Google Cloud, Microsoft, and AWS all announced support for FOCUS 1.0 with native billing exports, and revealed a number of important enhancements for FinOps Practitioners. Also on Day 2, American Express shared challenges they face on their FinOps journey, and Mike Fuller, CTO at the FinOps Foundation, discussed key considerations around FinOps tooling and services.

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professionals

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Intuit plans to replace 1,800 employees

Accounting Today

The laid-off workers will be replaced by specialists in engineering, product, and customer-facing roles as part of Intuit's larger AI plans.

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Hiring Update: July 2024 | Advisory, Hybrid, and Hiring Turnover

accountingfly

Sharing our perspective on the latest trends impacting talent acquisition in the accounting industry – Advisory, Hybrid, and Hiring Turnover. All content is 100% written by the real humans working here at Accountingfly. Market Trends: Swiping Right On Advisory; The Harder Way to Hire Hybrid, Culture Fit is Hard Everyone Loves Advisory More and more Accountingfly clients are looking to hire “financial whisperers”–candidates who provide meaningful business advisory services to firm cl

CPA 105
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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Founder Files: The reluctant entrepreneur

Accounting Today

Orumé Hays, founder of Hays CPA, wanted to make sure her future was never in someone else's hands.

CPA 327
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Are You Ready for July 31, 2024?

Insightful Accountant

Do you realize that July 31, 2024, is only 21 days away when Intuit will stop selling QuickBooks Pro and Premier to new subscribers? "What are you prepared to do?

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How to calculate the ROI of AP Automation 

Cevinio

Understand the significant cost benefits, enhanced compliance, and improved productivity that AP Automation offers.

AP 100
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Weather victims in Mississippi, Iowa get tax relief

Accounting Today

The IRS is pushing back both filing and payments deadlines for impacted taxpayers.

Tax 325
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Did Chevron Just Eliminate Cannabis Rescheduling?

Insightful Accountant

The recent Supreme Court decision overturning the Chevron doctrine has sent shockwaves through the regulatory landscape, with potentially significant ramifications for the cannabis industry.

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Dean Dorton acquires SaaS solutions provider

Accounting Today

The acquisition will expand the Top 100 Firm's portfolio of specialized accounting software and ERP solutions, particularly in the manufacturing and distribution sectors.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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How to Extract Key-Value Pairs Using Deep Learning

Nanonets

This tutorial blog examines some of the use cases of key-value pair extractions, the traditional and current approaches to solving the task, and a sample implementation with code. You encounter KVPs more often than you might realize. Remember the last time you flipped through a dictionary? Each word (the key) is paired with its definition (the value).

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Inside Direct File: How the IRS built its free tax prep program

Accounting Today

The head of the Internal Revenue Service's Direct File program cites careful scoping and a blended team of government and private sector for making it work.

Tax 257
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How to Use Financial Statements to Drive Business Growth

Less Accounting

Financial statements are powerful tools that provide valuable insights into the financial health and performance of a business. As a small business owner, leveraging these statements effectively can help drive informed decision-making and propel your business towards growth and success. In this blog post, we’ll explore how you can use financial statements to drive business growth and achieve your strategic objectives.

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IRS issues FAQ on Clean Fuel Production Credit

Accounting Today

Notice 2024-49 and a new set of frequently asked questions from the Internal Revenue Service offer more clarity around the credit.

Tax 208
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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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Your Clients Don’t Care About What You Do

Future Firm

Your clients aren't interested in your processes or tasks. Discover what they truly want and how you can better satisfy their needs. The post Your Clients Don’t Care About What You Do appeared first on Future Firm.

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The Fastest-Growing Firms: Opportunities ahead

Accounting Today

Some of Accounting Today's 2024 Fastest-Growing Firms share what they're excited about for the future.

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Bill definition

Accounting Tools

What is a Bill in Accounting? A bill is an invoice received from a supplier , on which the supplier states the amount owed by the recipient. This is the primary source document for trade payables. A unique invoice number on the bill is entered by the receiving entity in its accounts payable system, which uses the number in combination with the supplier name as the primary identifier for the liability.

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The Supreme Court had an eventful term — here's what its decisions mean for financial advisors

Accounting Today

The decisions indicated that justices will use far stricter scrutiny of government regulations moving forward, and some cases dealt a direct impact right away.

Tax 150
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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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Balance sheet date

Accounting Tools

What is the Balance Sheet Date? The balance sheet date is a date as of which the information in a statement of financial position is stated. This date is usually the end of a month, quarter, or year. The balance sheet contains information as of a specific date, rather than for a reporting range, since it only contains information about the status of an entity's assets , liabilities, and equity ; it does not contain any information that pertains to a range of dates, such as sales , profits , or c

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PwC starts mass China layoffs

Accounting Today

Following an exodus of major clients, Big Four firm PricewaterhouseCoopers is cutting at least a hundred employees in China.

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Accounting for startup costs

Accounting Tools

What are Startup Costs? Startup costs are the expenditures associated with organizing a new business or introducing a new product. Once the startup period has been completed, these costs should go away. Examples of startup costs are as follows: Accounting and legal startup costs Employee salary-related costs Employee training Feasibility studies Recruiting costs Travel costs Accounting for Startup Costs The accounting for startup activities is to expense them as incurred.

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9 ways not to think about pricing

Accounting Today

Too many accountants use these arguments to avoid charging clients what they should.

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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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Final dividend definition

Accounting Tools

What is a Final Dividend? A final dividend is the dividend declared by a company's board of directors after the company has issued its full-year financial statements. The final dividend is typically larger than any interim dividends that may have been issued during the fiscal year ; this is because the board of directors is not sure of the entire amount of cash that is available for distribution to shareholders until the final results are available for the full year, and so it tends to be conser

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Alternatives to QuickBooks

Tipalti

Looking for an alternative to QuickBooks? Explore our roundup of top-rated accounting software tailored to the needs of your small or growing business, so you can streamline your finances.

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Bank debits definition

Accounting Tools

What are Bank Debits? Bank debits are transactions that reduce the balance in a customer's account at a bank. Larger debits are usually associated with checks written by a bank customer to a payee , or withdrawals directly made by a customer from their own account. Smaller debits can be associated with the imposition of bank fees, such as for check printing, check processing, deposit processing, foreign transactions, minimum balances, monthly maintenance, not sufficient funds checks, and for the

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Investing in our future

Intuit

Intuit CEO Sasan Goodarzi sent the following note to Intuit employees today: Hi team, As I’ve shared many times, the era of AI is one of the most significant technology shifts of our lifetime. This is truly an extraordinary time – AI is igniting global innovation at an incredible pace, transforming every industry and company in ways that were unimaginable just a few years ago.

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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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Plan curtailment definition

Accounting Tools

What is Plan Curtailment? A plan curtailment occurs when there is a major decline in the number of staff covered by either a post-employment benefits plan or a defined benefit plan. Several events can trigger a plan curtailment, including shutting down a production facility or subsidiary, or laying off a large number of employees. The result of a plan curtailment is that many employees are no longer eligible for the plan.

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Are supplies a current asset?

Accounting Tools

What are Supplies? Supplies are incidental items used during the course of production, or as part of an organization’s administrative activities. The total cost of supplies tends to be quite low, and the per-unit cost of supplies is also usually quite low. Examples of supplies are paper, staples, and toner cartridges. Accounting for Supplies Supplies are usually charged to expense when they are acquired.