Thu.Apr 25, 2024

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A holistic solution to accounting's retention problem

Accounting Today

Firms must transform their business models to afford the cost of multilayered retention strategies, a new report by the Pennsylvania Institute of CPAs says.

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Making the Switch to Outsourced Client Accounting Services

Accounting Department

When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas.

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Senators introduce bill to simplify IRS notices

Accounting Today

Sens. Cassidy and Warren teamed up to introduce legislation aimed at making math error notices from the IRS easier to understand.

Billing 204
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AWS Updates Savings Plans, Compute Optimizer, and Tagging

FinOps Foundation

Key Insight: In March, AWS delivered four updates that help FinOps Practitioners tackle their top two key priorities this year , namely reducing waste or unused resources and managing commitment discounts. The recommended approach is to address both usage and rate optimization in tandem, and the FinOps Framework Domains have been updated to reflect that approach.

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Breaking Ground on Better Payment Processes: Strategies for Construction Pros

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.

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Which generative AI model did best on the CPA exam?

Accounting Today

A recent experiment tested different generative AI models against each other on the CPA Exam and found they each have their own strengths and weaknesses.

CPA 200
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AWS Updates Savings Plans, Cost Optimizer, and Tagging

FinOps Foundation

Key Insight: In March, AWS delivered four updates that help FinOps Practitioners tackle their top two key priorities this year , namely reducing waste or unused resources and managing commitment discounts. The recommended approach is to address both usage and rate optimization in tandem, and the FinOps Framework Domains have been updated to reflect that approach.

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Contributing Analysts Wanted for App Reviews

Insightful Accountant

Insightful Accountant is looking for a few Good ProAdvisors who want to contribute an analysis of apps we intend to compare. Do you like to review apps, more importantly, do you regularly work with a few great apps, you might be our Pros.

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Tax Fraud Blotter: Go for broke

Accounting Today

Speedy sentencing; WWTF; no longer Confident; and other highlights of recent tax cases.

Tax 195
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When to File an Amended Federal Tax Return: A Guide for Taxpayers

Insightful Accountant

When taxpayers realize their federal tax return has a math error, missing income or other mistake, they should file an amended tax return.

Tax 103
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IRS, Treasury finalize rules on energy tax credit transfers

Accounting Today

The Internal Revenue Service and the Treasury Department released final regulations on the transfer of clean energy manufacturing, investment and production tax credits, with specific rules for partnerships and S corporations.

Tax 195
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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Downward demand spiral definition

Accounting Tools

What is a Downward Demand Spiral? A downward demand spiral occurs when a business eliminates products without sufficiently reducing the overhead costs associated with them. When this happens, overhead is allocated across the fewer remaining products, which increases their cost per unit. With a higher cost base, management is more likely to increase the prices of the remaining products, which makes them harder to sell.

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Bring in more CAS clients with SEO

Accounting Today

Optimizing your presence online can maximize the reach of your client advisory services practice — and all your other practices, as well.

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Loan shark definition

Accounting Tools

What is a Loan Shark? A loan shark is a person or business that charges a higher interest rate for loans than is allowed by law. Maximum interest rates are typically set at the state level, so an entity is considered a loan shark if it lends above the legal interest rate in the state in which it does business. Loan sharks use threats of various kinds to obtain repayment.

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Ultra-rich should pay taxes to save Social Security, poll shows

Accounting Today

An overwhelming 77% of registered voters in the seven states that will decide the 2024 presidential election like the idea of a billionaires tax to bolster Social Security shortfalls.

Tax 195
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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Recognition definition

Accounting Tools

What is Recognition in Accounting? Recognition is the recordation of a business transaction in an entity's accounting records. Here are several examples of recognition: Recognition of a loss. A loss is recognized on a lower of cost or market analysis, thereby recording the loss in the accounting records. Recognition of a sale. A sale transaction is recognized by recording revenue in the accounting records.

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Hedge fund founder claims controversial tax trades were 'completely legal'

Accounting Today

Cum-Ex was a tax-driven trading strategy in which a global network of bankers, lawyers and agents exploited loopholes on dividend payout laws across Europe to reap duplicate tax refunds.

Tax 150
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The Human Side of Healthcare Debt Collection

RevCycle

Summary Healthcare debt is a growing concern in the United States, placing a significant burden on both patients and providers. While Artificial Intelligence (AI) is making waves in the debt collection industry, this paper argues that a human-centric approach focused on empathy, understanding, and flexible solutions can achieve higher netback for healthcare providers while treating patients with dignity and respect.

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What disclosures do the Fortune 500 put in their annual reports?

Accounting Today

Companies are increasingly prioritizing cybersecurity, executive compensation clawbacks and more.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

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

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8 Key Features to Look for in a QuickBooks Enterprise Hosting Provider

Ace Cloud Hosting

One of the most popular desktop-based accounting and financing management software, QuickBooks Enterprise, is a game changer for many. From invoicing to payroll and inventory management, QuickBooks Enterprise helps you.

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Which Is Better: A Monthly Bookkeeping Service or Your Bookkeeping Software?

CSI Accounting & Payroll

When it comes to small business bookkeeping, there are a few options. Here, we hone in on two of them: bookkeeping services and bookkeeping software. You might think that the only thing to consider is price, but there are a few key differences to highlight before you decide to move forward with a bookkeeping solution. At CSI Accounting & Payroll, we’ve worked with small business accounting for over 50 years.

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Content Management Strategy

oAppsNet

A robust content management strategy is essential for businesses to create, organize, and distribute content effectively. We’re here to help you develop and implement an effective content management strategy that drives engagement, enhances brand visibility, and ultimately achieves business objectives. 1. Define Clear Goals and Objectives The foundation of any successful content management strategy lies in defining clear and measurable goals and objectives.

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Oracle Helps Federal Agencies Optimize Finance in the Cloud

Insightful Accountant

Oracle Fusion Cloud ERP solution helps U.S. federal agencies increase efficiency and provide better services to their constituents.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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.

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Top Remote Accountants for Hire | April 25, 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 accountants with no upfront cost. These are just a few of our top candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

CPA 52
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Google Blames Accounting Layoffs on AI

Cloud Accounting Podcast

Blake and David take a dive into Google's decision to offshore accounting jobs to Mexico and India, which Google’s CFO claims is necessary to free up resources to invest in AI. They also discuss the stagnation of CPA salaries despite a shortage of talent. The conversation touches on a variety of other topics, including the modernization of the IRS, the future of the CPA profession, and advice for young accountants looking to carve their own career paths in a rapidly changing industry.

CPA 47
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Invoice factoring definition

Accounting Tools

What is Invoice Factoring? Factoring is the use of a borrowing entity's accounts receivable as the basis for a financing arrangement with a lender. The borrower is willing to accept a factoring arrangement when it needs cash sooner than the payment terms under which its customers are obligated to pay. Factors are usually willing to advance funds quite rapidly under this type of arrangement.

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Choosing The Best Online Invoice Generator: A Comprehensive Comparison Guide

Invoicera

Introduction Are you having a hard time creating professional invoices? You’re not alone. According to the survey, more than 60% of small business owners consider it a time-consuming and irritating task to issue invoices. Worry no more! Online invoice generators have made it possible for businesses to manage billing in different ways. With just a few clicks, you can now make professional-looking and clean invoices with no need for design skills.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

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Stakeholder value definition

Accounting Tools

What is Stakeholder Value? Stakeholder value involves creating the optimum level of return for all stakeholders in an organization. This is a more broad-based concept than the more common shareholder value, which usually focuses just on maximizing net profits or cash flows. The stakeholder value concept still places some emphasis on net profits or cash flows, but it also incorporates the needs of other stakeholders, such as employees, the local community, governments, customers , and suppliers.

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Hitting $1.5M in 36 months (And Selling the Firm)

Jetpack Workflow

Podcast Summary In this episode of Growing Your Firm, host David Cristello interviews Jordan Sublette, the CEO and founder of Cloud Accounting Staffing. Jordan shares his journey of building and selling his firm, and dives into the world of outsourcing talent. They discuss the challenges of talent crunches and how Jordan navigated through them. Tune in to gain insights on building a successful firm and leveraging outsourcing effectively.

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Odd lot definition

Accounting Tools

What is an Odd Lot? An odd lot is a share holding of less than 100 shares. It is considered to be an insignificant amount of stock, which issuing companies try to eliminate in order to avoid the expense of having to issue annual reports and stockholder voting materials to these shareholders. A shareholder may inadvertently find himself with an odd lot holding for several reasons, including: A reverse stock split reduced the entity's holdings to a level below 100 shares The shareholder is an empl

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Returned check definition

Accounting Tools

What is a Returned Check? A returned check is a check that is not paid by the financial institution on which it was drawn. The party that initially received this check and cashed it must reverse the transaction in its accounting records once it has been notified by the bank. This party may also be charged a fee by its bank. Reasons for a Returned Check The usual reason for a returned check is that the account on which it was drawn does not contain enough funds to pay for the full amount of the c

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Back to Basics with Reconciliations

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.