Accounting Today

OCTOBER 6, 2023

Taxpayers' eagerness to use free software provided by the service to file their taxes may be exaggerated because of the way a survey was designed.

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Tax 321

CloudZero

OCTOBER 6, 2023

When it comes to September’s cloud cost news, cloud-based organizations will have to take a little bit of sour news along with the sweet:

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Accounting Today

OCTOBER 6, 2023

The IRS has recently unveiled proposed regulations that shine a light on the murky world of digital asset broker definitions, the intricacies of the new Form 1099-DA, and its implementation timeline.

Tax 200

Tax Accounting Accounting 200

Accounting Tools

OCTOBER 6, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook Payables Management What is an Invoice? An invoice is a document submitted to a customer , identifying a transaction for which the customer owes payment to the issuer. This document represents an asset of the issuer and a liability of the customer. What is a Statement? A statement sent to a customer, showing billings to and payments from the customer during a specific time period, resulting in an ending balance.

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Invoicing Billing Collections Bookkeeping 76

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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.

Accounting

Accounting Today

OCTOBER 6, 2023

The international public-sector accounting board released its proposed consultation paper for its strategy and work program over the next five years.

Accounting 195

Accounting Accounting 195

Accounting Tools

OCTOBER 6, 2023

Related Courses Accounting Controls Guidebook A system of internal control has five components. An accountant must be aware of these components when designing an accounting system , as does anyone who audits the system. The components of an internal control system are noted below. Control Environment The control environment is the attitude of management and their employees regarding the need for internal controls.

Financial Statements 75

Financial Statements Auditing Accounting Accounting 75

Accounting Tools

OCTOBER 6, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook What to Include in the Chart of Accounts for a Small Business A small business needs a chart of accounts to record its accounting transactions. A smaller firm can dispense with the more specialized accounts and instead use an abbreviated chart of accounts. The following list of accounts should be adequate for compiling an income statement and balance sheet under a double entry bookkeeping system.

Accounting 75

Accounting Accounting Bookkeeping Accounts Payable 75

Accounting Today

OCTOBER 6, 2023

As part of our 2023 Malpractice Liability Insurance Buyer's Guide, experts weigh in on the risks accountants are facing

Accounting 182

Accounting Accounting 182

Accounting Tools

OCTOBER 6, 2023

Related Courses How to Conduct an Audit Engagement What is a Disclaimer of Opinion? A disclaimer of opinion is a statement made by an auditor that no opinion is being given regarding the financial statements of a client. This disclaimer may be given for several reasons. For example, the auditor may not have been allowed or been able to complete all planned audit procedures.

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Financial Statements Auditing 75

Accounting Today

OCTOBER 6, 2023

The Maryland Association of CPAs highlighted three outstanding members, plus multiple firms as C-level leaders, and other firm and personnel news from across the country.

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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.

Payroll

Accounting Tools

OCTOBER 6, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook How to Create a Numbering System for a Chart of Accounts Chart of accounts numbering involves setting up the structure of the accounts to be used, as well as assigning specific codes to the different general ledger accounts. The numbering system used is critical to the ways in which financial information is stored and manipulated.

General Ledger 75

General Ledger Accounting Accounting Bookkeeping 75

Accounting Today

OCTOBER 6, 2023

An inside look at nine of the top programs protecting accounting practices.

Accounting 154

Accounting Accounting 154

LedgerDocs

OCTOBER 6, 2023

Accounting and bookkeeping is often associated with attention to detail, and long hours spent poring over financial data. These can be demanding professions that can often be stressful, with a recent study showing that 90% of accounting professionals feel stressed in the workplace and 43% of these professionals have had to take time off as a result of stress.

Bookkeeping 65

Bookkeeping Accounting Accounting Auditing 65

Accounting Today

OCTOBER 6, 2023

With a vast array of options available, selecting the right software can be overwhelming.

Accounting Software 145

Accounting Software Accounting Accounting Management Accounting 145

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.

Economize

OCTOBER 6, 2023

As businesses scale, so do their cloud expenditures. Amazon Web Services (AWS), one of the most widely used cloud service platforms, offers a way out of this predicament through volume-based discounts. These discounts have become an integral aspect of cloud cost management, helping organizations not only to sustain but thrive in an increasingly competitive landscape.

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Computation 59

Analytix Finance & Accounting

OCTOBER 6, 2023

Emerging artificial intelligence (AI) is a hot topic in the news. It transcends industries, and everyone is trying to find new ways to adopt the technology for its task automation and analytical capabilities, including certified professional accountants (CPAs). Understanding how to utilize AI in accounting and finance will ultimately help your CPA firm digitally transform into an industry and marketplace leader.

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CPA Bookkeeping Data Entry Financial Analysis 52

Accounting Fun

OCTOBER 6, 2023

It is not well known that the King is a keep fit enthusiast and insists on all of his gym equipment being laid out in exactly the same way ahead of each training session. When he can't make it he pays a small fine. The sign on the palace gym door reads: HM Customs and Exercise.

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Accounting Tools

OCTOBER 6, 2023

Related Courses Accounting Changes and Error Corrections What is a Compensating Error? A compensating error is an accounting error that offsets another accounting error. These errors can be difficult to spot when they occur within the same account and in the same reporting period , since the net effect is zero. A statistical analysis of an account may not find a compensating error.

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Accounting Accounting 40

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.

CPA

NACM

OCTOBER 6, 2023

?️ On today's episode of NACM's Extra Credit podcast … The Credit Managers' Index (CMI) gained 1.8 points to 52.6 in September. The improvement is welcome, but the CMI appears stuck on the precipice of a recession in business activity, said NACM Economist Amy Crews Cutts, Ph.D., CBE. ⭐️ Also hear from Cathy Klein and Gary Juliano abo.

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Accounting Tools

OCTOBER 6, 2023

Related Courses Business Strategy C Corporation Tax Guide Types of Business Entities What is a Conglomerate? A conglomerate is a cluster of unrelated businesses that are under common ownership. Each subsidiary of a conglomerate is likely to conduct business independently of its fellow subsidiaries , since there is so little operational activity linking them.

Corporation Tax 40

Corporation Tax Financial Statements Tax 40

Accounting Tools

OCTOBER 6, 2023

Related Courses Behavioral Ethics Ethical Frameworks in Accounting What is the Four-Component Model? One way to make ethical decisions is to employ the four-component model, which was devised by James Rest, a professor at the University of Minnesota. The model involves the four processes noted below. Moral Sensitivity The person must be able to interpret a situation in terms of specific courses of action, determine who could be affected by each action, and understand how the affected party would

Petty cash 40

Petty cash Accounting Accounting 40

Accounting Tools

OCTOBER 6, 2023

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Investment Turnover Ratio? The investment turnover ratio compares the revenues produced by a business to its debt and equity. The ratio is used to evaluate the ability of a management team to generate revenue with a specific amount of funding. The "turnover" part of the term indicates the number of multiples of revenue that can be generated with the current funding level.

Financial Statements 40

Financial Statements 40

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

Accounting Tools

OCTOBER 6, 2023

Related Courses How to Audit Human Resources Human Resources Guidebook Payroll Management What is Human Resource Accounting? Human resource accounting involves the tracking of all costs related to employees in a separate report. These costs include employee compensation, payroll taxes , benefits, training, and recruiting. Such an accounting system can be used to determine where human resources costs are especially heavy or light in an organization.

Accounting 40

Accounting Accounting Payroll Budgeting 40

Accounting Tools

OCTOBER 6, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is the Accounting for Expenses? Expense accounting involves the recognition and recordation of a consumed expenditure or an incurred obligation. This process is critical to recognizing expenses in the correct amount and reporting period. The activities noted below are needed in expense accounting.

Accounting 40

Accounting Accounting Accruals Bookkeeping 40

Accounting Tools

OCTOBER 6, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Depreciation? Depreciation is a planned, gradual reduction in the recorded value of an asset over its useful life by charging it to expense. Depreciation is applied to fixed assets , which generally experience a loss in their utility over multiple years. The use of depreciation is intended to spread expense recognition over the period of time when a business expects to earn revenue from the use of an asset.

Auditing 40

Auditing Accounting Accounting 40

Accounting Tools

OCTOBER 6, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is a Long Lived Asset? A long lived asset is any asset that a business expects to retain for at least one year. This definition can be broadened to include any asset that is expected to be retained for more than one accounting period. Long lived assets are usually classified into two subcategories, which are noted below.

Computation 40

Computation Auditing Tax Accounting 40

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Accounting Tools

OCTOBER 6, 2023

Related Courses Accounting for Inventory How to Audit Inventory What are Finished Goods? Finished goods are products that have completed all aspects of the production process, and which are being held for sale. Products still in the production process are classified as work-in-process inventory. Characteristics of Finished Goods Several characteristics of finished goods are noted next.

Auditing 40

Auditing Accounting Accounting 40

Accounting Tools

OCTOBER 6, 2023

Related Courses Accounting Controls Guidebook Accounting Information Systems What is an External Control? An external control is an action taken by an outside party that impacts the governance of a business. For example, a government could enact a law that prohibits a firm from using discriminatory hiring practices. Or, a company could impose audits on its suppliers to ensure that they are complying with minimum labor standards.

Auditing 40

Auditing Accounting Accounting 40

Accounting Tools

OCTOBER 6, 2023

Related Courses Business Strategy New Manager Guidebook What are Tactics? Tactics are the detailed means by which strategy is carried out. Tactical plans define what specific functional areas of a business must do in the short-term to ensure that strategic goals are achieved. Tactical plans are much more voluminous than strategic plans, since they must identify the specific operational changes that must be implemented in order to achieve strategic goals.

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Accounting Tools

OCTOBER 6, 2023

Related Courses Accounting for Inventory How to Audit Inventory What is the Dollar-Value LIFO Method? The dollar-value LIFO method is a variation on the last in, first out cost layering concept. In essence, the method aggregates cost information for large amounts of inventory , so that individual cost layers do not need to be compiled for each item of inventory.

Auditing 40

Auditing Accounting Accounting 40

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.

Invoicing