Sun.Nov 05, 2023

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Celebrating Global Bookkeeping Week

Xero

It’s Global Bookkeeping Week, an annual tradition that recognises bookkeepers from all corners of the globe and a worthy cause for celebration at Xero. From 6-10 November 2023, this dedicated week will see tens of thousands of bookkeepers take a moment to reflect on their incredible contributions to the small business community. Bookkeeping remains a thriving global profession, presenting its practitioners with a unique blend of challenges and enriching experiences.

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QBO Monday Minute: QuickBooks Online Chart of Accounts Templates

Insightful Accountant

The Chart of Accounts Templating is BACK!!!! I’m sharing how this comeback in QuickBooks Online should be setup and used for the Chart of Accounts. Establishing the Chart of Accounts each time from scratch is time-consuming.

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Celebrating Global Bookkeeping Week

Xero

It’s Global Bookkeeping Week, an annual tradition that recognises bookkeepers from all corners of the globe and a worthy cause for celebration at Xero. From 6-10 November 2023, this dedicated week will see tens of thousands of bookkeepers take a moment to reflect on their incredible contributions to the small business community. Bookkeeping remains a thriving global profession, presenting its practitioners with a unique blend of challenges and enriching experiences.

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Depreciation methods definition

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What are the Most Common Depreciation Methods? Depreciation is used to gradually charge the book value of a fixed asset to expense. It is intended to approximately reflect the decline in value of an asset over time, due to wear and tear. There are several methods of depreciation, which can result in differing charges to expense in any given reporting period.

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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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Xero welcomes new members to Aotearoa New Zealand’s Partner Advisory Council

Xero

Xero has the pleasure of welcoming seven new members to its new Xero Partner Advisory Council (XPAC). The XPAC has been reintroduced into Aotearoa and is made up of a diverse panel of accountants and bookkeepers who are both thought leaders and trailblazers for the needs of the sector. The latest members are as follows: Trudi Ballantyne – Director, Stem Rural Accountants Limited Louise Holmes – Director, Red Office Limited Manoli Aerakis – Managing Director, Malloch McClean T

XERO 130
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Accounts receivable confirmation definition

Accounting Tools

Related Courses How to Audit Receivables How to Conduct an Audit Engagement The Balance Sheet What is an Accounts Receivable Confirmation? When an auditor is examining the accounting records of a client company, a primary technique for verifying the existence of accounts receivable is to confirm them with the company's customers. The auditor does so with an accounts receivable confirmation.

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How to calculate cash profit

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is Cash Profit? Cash profit is the profit recorded by a business that uses the cash basis of accounting. Under this method, revenues are based on cash receipts and expenses are based on cash payments. Consequently, cash profit is the net change in cash from these receipts and payments during a reporting period.

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5 AP Automation challenges for Restaurant Businesses

Outsourced Bookeeping

Many culinary establishment’s main objective is to streamline restaurant business so that customers have the most enjoyable possible eating experiences. Behind the scenes, however, restaurant enterprises’ financial operations are crucial to their general success. Restaurants frequently encounter a number of difficulties in the area of Accounts Payable automation.

AP 52
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Internal control definition

Accounting Tools

Related Courses Accounting Controls Guidebook Accounting Procedures Guidebook What is Internal Control? Internal control is a set of activities that are layered onto the normal operating procedures of an organization, with the intent of safeguarding assets , minimizing errors, and ensuring that operations are conducted in an approved manner. Another way of looking at internal control is that these activities are needed to mitigate the amount and types of risk to which a firm is subjected.

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Intuit Announces New e-Commerce Capabilities for QuickBooks

Insightful Accountant

New QuickBooks capabilities will provide automated and effortless inventory management to help businesses confidently manage and scale e-commerce operations.

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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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Loan stock definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is Loan Stock? Loan stock is shares in a business that have been pledged as collateral for a loan. This type of collateral is most valuable for a lender when the shares are publicly traded on a stock exchange and are unrestricted, so that the shares can be easily sold for cash.

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International Wire Transfer Fee Calculator

Tipalti

Easily calculate international wire transfer fees with our calculator. Get efficient cost estimates for your global money transfers to help streamline business.

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Material quantity variance definition

Accounting Tools

Related Courses Cost Accounting Fundamentals What is a Material Quantity Variance? A material quantity variance is the difference between the actual amount of materials used in the production process and the amount that was expected to be used. The measurement is employed to determine the efficiency of a production process in converting raw materials into finished goods.

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Liquidation basis of accounting definition

Accounting Tools

Related Courses Bankruptcy Tax Guide Essentials of Corporate Bankruptcy What is the Liquidation Basis of Accounting? Liquidation basis accounting is concerned with preparing the financial statements of a business in a different way if its liquidation is considered to be imminent. “Imminent” refers to either of the following two conditions: Liquidation plan.

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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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Cash overdraft definition

Accounting Tools

Related Courses Corporate Cash Management Treasurer's Guidebook What is a Cash Overdraft? A cash overdraft is a bank account that contains a negative balance. This situation typically arises when a person or business is too optimistic in assuming that deposited funds have cleared the bank and are available for use, and so writes checks for which funds are not yet available.

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Return of capital definition

Accounting Tools

Related Courses Accounting for Investments Corporate Finance Treasurer's Guidebook What is Return of Capital? The return of capital refers to the return of invested funds from an investment to an investor. This transfer of funds represents a return of the original investment, not any additional capital gain on the investment. A return of capital can occur when the activity in which an investment was originally made is being liquidated.

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Natural business year definition

Accounting Tools

Related Courses Bookkeeping Guidebook What is a Natural Business Year? A natural business year is a period of 12 consecutive months, terminating in a natural low point in the sales activity of a business. This period is an ideal choice for being the official accounting year of a business (known as its fiscal year ), since the natural low point at the end of the period should coincide with a decline in recordable business transactions.

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Is depreciation a direct cost or indirect cost?

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets Depreciation cost is the amount of a fixed asset that has been charged to expense through a periodic depreciation charge. The amount of this expense is theoretically intended to reflect the to-date consumption of the asset. Before determining whether depreciation is a direct cost or indirect cost, we must first clarify the related terms, which are noted below.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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Successful efforts method definition

Accounting Tools

Related Courses Oil and Gas Accounting What is the Successful Efforts Method? The successful efforts method is used in the oil and gas industry to account for certain operating expenses. Under the successful efforts method, a company only capitalizes those costs associated with the location of new oil and gas reserves when those reserves have been found.

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Accumulated retained earnings definition

Accounting Tools

Related Courses The Balance Sheet What are Accumulated Retained Earnings? Accumulated retained earnings are the earnings of a business that have piled up since its inception, rather than being paid to shareholders in the form of dividends or some other form of distribution. It is necessary to build up a significant amount of accumulated retained earnings in many companies, for the following reasons: Reserves.

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Callable stock definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is Callable Stock? Callable stock is shares in a company that the issuer can buy back. Callable stock may be issued in order to have the option of retaining tighter control over a business or to avoid paying interest on preferred stock. The issuer buys back the shares under the terms of an agreement that states the buy back price (known as the call price ) and the dates or circumstances under which the issuer can buy back the shares.

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Capitalization table definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Treasurer’s Guidebook What is a Capitalization Table? A capitalization table is a detailed listing of the ownership of a business. At a minimum, it includes the detail for all outstanding common stock and preferred stock , including the names of all shareholders. It may also include a listing of all warrants and stock options that have not yet been exercised.

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Profit in the Details: Rethinking Spend for Monumental Impact

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

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Ending work in process formula

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory What is the Ending Work in Process Formula? Work in process (WIP) is inventory that has been partially completed, but which requires additional processing before it can be classified as finished goods inventory. The amount of ending work in process must be derived as part of the period-end closing process, and is also useful for tracking the volume of production activity.

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Book balance definition

Accounting Tools

Related Courses Bank Reconciliation Essentials Bookkeeping Guidebook How to Audit Cash What is a Book Balance? A book balance is the account balance in a company's accounting records. The term is most commonly applied to the balance in a firm's checking account at the end of an accounting period. An organization uses the bank reconciliation procedure to compare its book balance to the ending cash balance in the bank statement provided to it by the company's bank.

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Two-tier tender offer definition

Accounting Tools

Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Divestitures and Spin-Offs Mergers and Acquisitions What is a Two-Tier Tender Offer? Under a two-tiered tender offer, an acquirer offers a better deal for a limited number of shares of the target company that it wishes to purchase, followed by a worse offer for the remaining shares.

CPA 40
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Sales revenue definition

Accounting Tools

Related Courses Bookkeeping Guidebook Effective Sales Management Revenue Management Revenue Recognition What is Sales Revenue? Sales revenue is the amount realized by a business from the sale of goods or services. The two words can be used interchangeably, since they mean the same thing. This figure is used to define the size of a business. The concept can be broken down into two variations, which are noted below.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.

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Lockbox system definition

Accounting Tools

Related Courses Corporate Cash Management Treasurer's Guidebook What is a Lockbox System? A lockbox is a bank-operated mailing address to which a company directs its customers to send their payments. The bank opens the incoming mail, deposits all received funds in the company's bank account, and scans the payments and any remittance information. The scanned images are posted to a secure website, where the company's accounting staff can access the images to apply payments to outstanding accounts