Thu.Aug 29, 2024

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IRS policies may help multinational corporations avoid U.S. taxes

Accounting Today

Some IRS policies may favor large multinational corporations that use foreign no-tax or low-tax jurisdictions for the sole purpose of avoiding paying U.S. taxes, according to a TIGTA report.

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5 KPIs to Help Drive Your E-commerce Business

Accounting Department

In the dynamic world of small business, staying ahead means constantly measuring and optimizing performance. That's where Key Performance Indicators (KPIs) come in. These metrics help business owners, entrepreneurs, and startups monitor their progress, identify areas for improvement, and make data-driven decisions. Now that we understand the importance of KPIs, let's focus on the top 5 essential KPIs for e-commerce businesses.

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Tax Fraud Blotter: Place your bets

Accounting Today

Close personal relationships; home is where the scam is; tort trouble; and other highlights of recent tax cases.

Tax 280
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Embracing QuickBooks Live Expert Assist

Insightful Accountant

Sheri Radler, Insightful Accountant's 2023 Up-n-coming ProAdvisor of the Year, provides a 'fresh perspective' on how QuickBooks Live Expert Assist can support and grow your ProAdvisor practice.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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The 2024 MP Elite

Accounting Today

This year's selection of outstanding firm leaders fill multiple roles with aplomb

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Top ProAdvisor Profiles: Alee Cochrane

Insightful Accountant

Alee Cochrane of Sydney, Australia, and one of our Top 50 International ProAdvisors for 2024 is our featured ProAdvisor this week.

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Foreign currency translation definition

Accounting Tools

What is Foreign Currency Translation? Foreign currency translation is used to convert the results of a parent company's foreign subsidiaries to its reporting currency. This is a key part of the financial statement consolidation process, resulting in a set of financial statements that are presented solely in the parent company’s reporting currency. The steps in this translation process are as follows: Determine the functional currency of the foreign entity.

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Assessing credit losses in financial statement audits

Accounting Today

As economic conditions fluctuate and accounting standards evolve, auditors face increasing challenges in evaluating how organizations estimate and report credit losses and providing a comprehensive overview of credit loss assessment in financial statement audits.

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Limitations of ratio analysis

Accounting Tools

What are the Limitations of Ratio Analysis? Ratio analysis involves comparing information taken from the financial statements to gain a general understanding of the results, financial position , and cash flows of a business. This analysis is a useful tool, especially for an outsider such as a credit analyst, lender , or stock analyst. These people need to create a picture of the financial results and position of a business just from its financial statements.

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Sage Copilot AI aims to pair power and simplicity

Accounting Today

Sage's new generative AI Copilot solution, set for US release later this year, is meant to make powerful automation capacities more accessible.

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The Financial Leader's Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Safe and Sound: Enhancing Security in Cloud Accounting Systems

Ace Cloud Hosting

In today’s digital era, businesses rely on cloud accounting to manage their financial operations. Cloud accounting’s accessibility and cost-effectiveness have made it an integral tool for small to large firms.

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Shipbuilder Austal backs SEC giving penalty to shareholders

Accounting Today

The company was hit with a $24 million penalty as a result of an accounting scheme designed to inflate earnings.

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The Accounting for Dummies Cheat Sheet

Ace Cloud Hosting

Accounting is the language of business. Whether you are a small business owner, CPA firm, or an individual who handles the financial tasks of your family or others, understanding the.

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MPs and AI: 'A smart intern on their first day'

Accounting Today

Members of Accounting Today's Managing Partner Elite are investing in artificial intelligence for efficiency — but they're cautious about it.

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How to Select the Perfect Payments Partner: 7 Keys for Sustainable Growth

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

Join Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms for an informational webinar about how to select the ideal payments provider for your platform! This session highlights the 7 key criteria for assessing payments partners and maximizing the value of your investment. From evaluating technology and business development programs to understanding support and compliance, this webinar will equip you with a comprehensive evaluation framework and strategy for

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Here’s How the Food & Beverage Industry Can Use BPA to Improve Purchasing

NextProcess

In the food and beverage industry, a reliable procurement strategy is vital to success. Whether your company is part of food and beverage production or distribution, you’re just one step in the path food and beverages take from raw materials to consumers. How well you manage procurement, purchasing, and suppliers can make or break a business. What you’ll be purchasing depends on the industry niche your company occupies.

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Wipfli grows revenue 8%

Accounting Today

The Top 20 Firm reported $590 million net revenue in FY 2024.

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Goodwill impairment testing

Accounting Tools

What is Goodwill Impairment Testing? Goodwill impairment occurs when the recognized goodwill associated with an acquisition is greater than its implied fair value. Goodwill is a common byproduct of a business combination, where the purchase price paid for the acquiree is higher than the fair values of the identifiable assets acquired. After goodwill has initially been recorded as an asset, it must be regularly tested for impairment.

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Finance & Accounting Appreciation Week: Applause for AP

AvidXchange

The Institute of Finance & Management (IOFM)’s Finance & Accounting Appreciation Week 2024 is September 23-27, 2024. This year, make sure to give special recognition to your accounts payable (AP) team. These unsung heroes literally keep the lights on at your business, making sure bills are paid on time and you remain in good standing with suppliers.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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How to Improve Short-Term Accounts Receivable Collections Forecasting

Gaviti

No modern business can hope to thrive without the ability to predict the future. This may sound impossible, but forecasting is a skill. It is also a science that artificial intelligence has mastered. Short-term accounts receivable forecasting is especially difficult because it involves digging beyond general patterns. Regardless of the deadline on the invoice, you must determine when and if clients might pay.

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Top Remote Accounting Candidates for Hire | August 29, 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 accounting candidates with no upfront cost. These are just a few of our top remote accounting candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

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Materiality principle definition

Accounting Tools

What is the Materiality Principle? The materiality principle states that an accounting standard can be ignored if the net impact of doing so has such a small impact on the financial statements that a user of the statements would not be misled. Under generally accepted accounting principles ( GAAP ), you do not have to implement the provisions of an accounting standard if an item is immaterial.

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Invoices vs. Factur-X: What Are the Differences?

oAppsNet

Invoices are a fundamental part of business transactions, serving as a record of goods or services provided and the corresponding payment due. However, with technological advancements, traditional invoices are evolving into more sophisticated formats like Factur-X. Understanding the differences between standard invoices and Factur-X can help businesses choose the best invoicing method to enhance efficiency, accuracy, and compliance.

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Unlock The Power Of The CFO Toolkit

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

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Income beneficiary definition

Accounting Tools

What is an Income Beneficiary? An income beneficiary is a person to whom the net income of a trust is or may be payable. Income beneficiaries are identified in the trust agreement of a trust. This person is only entitled to the trust income during the term of the trust, or until a designated event occurs (such as the beneficiary reaching a certain age, such as 21 years old).

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5 Methods to Upgrade Your Accounts Receivable Collection Strategies

Gaviti

Your accounts receivable (A/R) collections process seems simple enough on paper. You provide services, send an invoice, and collect payment. Right? Not so fast. Many different accounts receivable collection techniques exist, and many of them should be used in conjunction with one another for the best results. Let’s review a few of the most popular ones so that you can verify that you’re doing all you can to optimize your accounts receivable collections.

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Real interest rate definition

Accounting Tools

What is the Real Interest Rate? The real interest rate is the stated interest rate associated with an investment or loan , minus the inflation rate. This is a valuable concept when there is a significant amount of inflation, or when the inflation rate is projected to increase. However, it is inherently difficult to predict, given the many inputs that cause inflation to occur.

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Risk-free rate of return definition

Accounting Tools

What is the Risk-Free Rate of Return? The risk-free rate of return is the return expected from an investment that is considered to have zero risk of default. In practice, the 3-month Treasury Bill is assumed to have a risk-free rate of return. This rate of return establishes the minimum threshold for a rate of return on any investment, since an investor would logically invest in Treasury Bills rather than invest in anything else that offered a lower rate of return.

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Pricing for Profit: How to Set, Negotiate, and Succeed

Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

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Net worth ratio definition

Accounting Tools

What is the Net Worth Ratio? The net worth ratio states the return that shareholders could receive on their investment in a company, if all of the profit earned were to be passed through directly to them. Thus, the ratio is developed from the perspective of the shareholder, not the company, and is used to analyze investor returns. The ratio is useful as a measure of how well a company is utilizing the shareholder investment to create returns for them, and can be used for comparison purposes with

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Tests of controls definition

Accounting Tools

What are Tests of Controls? A test of controls is an audit procedure to test the effectiveness of a control used by a client to prevent or detect material misstatements. The intent of these tests is to decide whether the controls are adequate for the detection and prevention of material misstatements. A test of controls is made irrespective of the dollar amount of the underlying business transaction.