Accounting Today
OCTOBER 18, 2024
So far, around 150 federal disaster declarations have already been announced for 2024, involving 44 states, two territories, and half a dozen Native American tribes or bands.
Compleatable
OCTOBER 18, 2024
A Life-Changing Decision: From Accountancy to Charity Work When I graduated from university, I found myself at a significant crossroads. Should I immediately dive into my accounting career, taking on audit training and pursuing the Chartered Accountant exams, or should I take a step back to give something back to society? Much to my family’s dismay, I chose the latter and spent the next two years working at a night shelter charity for homeless men in Leeds.
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Accounting Today
OCTOBER 18, 2024
Starting in January, cryptocurrency will need to be reported to the IRS on an account-by-account basis versus the "universal wallet" approach most had been using.
Nanonets
OCTOBER 18, 2024
Introduction Large Language Models (LLMs), no matter how advanced or powerful, fundamentally operate as next-token predictors. One well-known limitation of these models is their tendency to hallucinate, generating information that may sound plausible but is factually incorrect. In this blog, we will - dive into the concept of hallucinations, explore the different types of hallucinations that can occur, understand why they arise in the first place, discuss how to detect and assess when a model is
Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting
Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical
Accounting Today
OCTOBER 18, 2024
Data Snipper releases AI-powered document validator; TaxPlanIQ announces 1-day virtual summit; IRS announces availability of 18 online seminars; and other accounting tech news.
Accounting Tools
OCTOBER 18, 2024
There are two major accounting frameworks in use in the world today, which are Generally Accepted Accounting Principles ( GAAP ) and International Financial Reporting Standards ( IFRS ). GAAP is primarily used in the United States, while IFRS has been adopted in most other countries. Though the organizations responsible for these two frameworks have engaged in talks to minimize the differences between the frameworks, there are still several significant differences.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Accounting Tools
OCTOBER 18, 2024
What is a Capitalized Cost? A capitalized cost is recognized as part of a fixed asset , rather than being charged to expense in the period incurred. Capitalization is used when an item is expected to be consumed over a long period of time, typically more than one year. If a cost is capitalized, it is charged to expense over time through the use of amortization (for intangible assets ) or depreciation (for tangible assets ).
Accounting Today
OCTOBER 18, 2024
Sax reaches $1 million milestone for annual charity run; Withum adds new ESG offering; and more news from across the profession.
Accounting Tools
OCTOBER 18, 2024
What is a Trade Discount? A trade discount is the amount by which a manufacturer reduces the retail price of a product when it sells to a reseller, rather than to the end customer. The reseller then charges the full retail price to its customers in order to earn a profit on the difference between the amount by which the manufacturer sold the product to it and the price at which it then sells the product to the final customer.
Accounting Today
OCTOBER 18, 2024
The PCAOB's aggressive enforcement agenda overshadows the profession's achievements.
Speaker: Amanda Adams, Fractional CFO, CPA
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
Billing Platform
OCTOBER 18, 2024
Invoice billing software encompasses more than just sending an invoice. It’s at the very center of your ability to maintain a healthy cash flow. If you’re still managing invoices manually or using an outdated billing solution, chances are you’re encountering payment delays. Make Payment Delays a Thing of the Past Your goal is to generate revenue, and a healthy business relies on a steady stream of revenue.
Accounting Today
OCTOBER 18, 2024
Private equity firm Further Global has taken a minority stake in the Top 25 Firm.
Blake Oliver
OCTOBER 18, 2024
Good news! Benjamin F. Borgers, the CPA who faked over a thousand public company audits , is no longer a licensed CPA in Colorado. It only took 5 months.
Nanonets
OCTOBER 18, 2024
Imagine turning your often-overlooked accounts payable (AP) department into a strategic powerhouse. While businesses focus on optimizing every corner of their operations, AP often remains overlooked despite its untapped potential. The future of accounts payable lies in AP automation , which can turn this traditional back-office function into a key driver of growth.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Blake Oliver
OCTOBER 18, 2024
A bachelor's degree in 3 months, a master's in 36 days, and all 4 CPA exams passed within 18 months. Kenyth's journey will change everything you know about getting your CPA license. It doesn't have to take nearly as much time or money as you think.
Nanonets
OCTOBER 18, 2024
Imagine turning your often-overlooked Accounts Payable department into a strategic powerhouse. While businesses race to optimize every corner of their operations, AP quietly holds untapped potential. The future of AP automation promises to transform this traditional back-office function into a strategic asset that drives company-wide growth. As businesses face increasing financial pressures, the modern AP team must evolve beyond manual tasks.
Insightful Accountant
OCTOBER 18, 2024
In today’s accounting landscape, employee retention and productivity are critical to success, especially in the Client Accounting Services (CAS) sector and for bookkeepers using QuickBooks Online. Training can directly influence these outcomes.
Economize
OCTOBER 18, 2024
What is an Azure VM? An Azure Virtual Machine is a scalable, on-demand computing resource offered by Microsoft Azure. With Azure VMs you can deploy, manage, and run your workloads in the cloud, without the need to invest in any physical hardware. Azure VMs are used for development, testing, as well as scaling applications in the cloud.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Earmark Accounting Podcast
OCTOBER 18, 2024
Join Ryan Spohn, CFO of Sikich, and host Blake Oliver to explore how modern CPA firms are revolutionizing the industry by abandoning the traditional partnership model. Discover innovative strategies for attracting and retaining top talent, including Sikich's alternative practice structure and novel performance metrics. Learn how firms shift from "total hours worked" to holistic evaluations of effectiveness, client satisfaction, and quality.
Accounting Fun
OCTOBER 18, 2024
Every year my friend asks if he can deduct the cost of his jogging shoes for tax purposes. It’s a running joke. My client recently started a gardening business because he wanted to grow his net income. Another client wanted to write off the cost of a new bespoke suit. They said it would be a tailored deduction. It would be wrong to claim a deduction for a new watch, but it could be a timely mistake.
Accounting Tools
OCTOBER 18, 2024
What is a Variable Costing Income Statement? A variable costing income statement is one in which all variable expenses are deducted from revenue to arrive at a separately-stated contribution margin , from which all fixed expenses are then subtracted to arrive at the net profit or loss for the period. This presentation format is rarely used, since most organizations prefer a format that combines variable and fixed costs within a cost of goods sold section, after which all remaining expenses are s
LedgerDocs
OCTOBER 18, 2024
Your document management system can make or break for your bookkeeping or accounting business. You process hundreds of documents a month so it is crucial to stay organized to be productive. If you’re still relying on outdated processes or struggling with clunky software, it might be time to make the switch to a cloud-based document management system like LedgerDocs.
Speaker: David Warren and Kevin O’Neill Stoll
Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng
Accounting Tools
OCTOBER 18, 2024
What is Ending Inventory? Ending inventory is the total unit quantity of inventory in stock or its total valuation at the end of an accounting period. The ending inventory figure is needed to derive the cost of goods sold , as well as the ending inventory balance to include in a company's balance sheet. For organizations dealing with large quantities of inventory, deriving the ending inventory figure could be the most important part of the process of closing the books.
Blake Oliver
OCTOBER 18, 2024
In our latest episode of The Accounting Podcast, we discuss the fallout from Intuit's controversial TurboTax ad and the National Association of Tax Professionals cutting ties with the company. We also examine Trump Jr.'s threats against Deloitte, KPMG's support for alternative pathways to CPA licensure, and rapper Fat Joe's experience with BDO.
Accounting Tools
OCTOBER 18, 2024
What is the Divisional Organizational Structure? The divisional organizational structure organizes the activities of a business around geographical, market, or product and service groups. Thus, a company organized on divisional lines could have operating groups for the United States or Europe, or for commercial customers, or for the green widget product line.
Accounting Tools
OCTOBER 18, 2024
What is Accounting Profit? Accounting profit is the profit of a business that includes all revenue and expense items mandated under an accounting framework. This profit figure is used in an organization's financial statements , and is commonly used to evaluate its performance. Examples of accounting frameworks are Generally Accepted Accounting Principles ( GAAP ) and International Financial Reporting Standards ( IFRS ).
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
Accounting Tools
OCTOBER 18, 2024
What is a Direct Financial Interest? A direct financial interest is a financial interest that is owned directly by an individual or entity, or which is under the control of an individual or entity, or which is beneficially owned through an investment vehicle or other intermediary. The concept is an essential one for auditors , who need to be aware of their financial interests in attest clients.
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