Wed.Oct 11, 2023

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CPA firm profits and revenues jumped last year

Accounting Today

The median growth rate hit 9.1% in net revenue in fiscal year 2022, according to a new survey, over double the 4.2% growth rate of fiscal year 2020.

CPA 317
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Could a simple licensing change increase the number of CPAs by 15%?

Blake Oliver

A University of Denver professors suggests replacing the 150-hour rule with a four-year degree and two years of work experience.

CPA 129
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The IRS wants tax pros to be ready for both death and taxes

Accounting Today

New best practices to help practitioners prepare for the inevitable are just some of the new developments going on at the service, according to NCCPAP.

Tax 317
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Business News – US and Global

Insightful Accountant

Murph has once again compiled a synopsis of some of the key pieces of 'Business News' impacting both our US and international readership.

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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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Corporate board directors want to see each other replaced

Accounting Today

Nearly half the directors on corporate boards would like to see one of the other members replaced, but few changes are happening, according to a new survey.

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The Most Used POS Systems for QuickBooks Integration in 2023

Ace Cloud Hosting

A robust POS (Point of Sale) application is essential for a retail or service-based business to efficiently manage sales, inventory, and customer data.

More Trending

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2024 Real Estate Forecast

AvidXchange

As the year winds down, professionals in the real estate industry are naturally looking forward, planning budgets and goals for next year. Our 2024 real estate forecast predicts significant change in the retail and commercial sectors as well as an increased focus on building organizational efficiencies with technology. Below are a few of the top trends that will impact the 2024 real estate forecast.

Budgeting 105
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Sustainability accounting standards revised for international applicability

Accounting Today

The changes aim to make the ESG rules more relevant to a global audience.

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Illinois Paid Leave for All Workers Act: What you need to know

Reconciled Solutions

If you own a business in Illinois, make sure you are prepared for the Paid Leave for All Workers Act. Start with these quick facts. The post Illinois Paid Leave for All Workers Act: What you need to know appeared first on Reconciled Solutions.

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Vendor Spotlight: TaxDome

Accounting Today

In this week's Vendor Spotlight, we hear from Ilya Radzinsky, co-founder and CEO of TaxDome.

Tax 195
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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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Types of equity accounts

Accounting Tools

Related Courses Bookkeeping Guidebook How to Audit Equity The Balance Sheet What are Equity Accounts? Equity accounts are the financial representation of the ownership of a business. Equity can come from payments to a business by its owners, or from the residual earnings generated by a business. Because of the different sources of equity funds, equity is stored in different types of accounts.

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Global tax deal moves closer in race to avoid digital levies row

Accounting Today

Negotiators presented a legal text that sets out who can levy the profits of the world's biggest corporations in order to prevent a resurgence of trade tensions.

Tax 189
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Basics of accounting

Accounting Tools

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook Introduction to Accounting Basics Accounting is the practice of recording and reporting on business transactions. The resulting information is an essential feedback loop for management, so that they can see how well a business is performing against expectations.

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Bankman-Fried dismissed audit risks at FTX, ex-girlfriend testifies

Accounting Today

When Caroline Ellison asked the former CEO in 2020 whether the line of credit would show up in FTX's audit, he said, "don't worry, the auditors aren't going to look at that," she testified.

Auditing 189
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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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Financial ratios - a complete list

Accounting Tools

Related Courses Business Ratios Guidebook Key Performance Indicators The Interpretation of Financial Statements What are Financial Ratios? Financial ratios compare different line items in the financial statements to yield insights into the condition and results of a business. These ratios are most commonly employed by individuals outside of a business, since employees typically have more detailed information available to them.

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Did your state receive a clean audit opinion this year?

Accounting Today

Whether a qualified, disclaimer or adverse opinion is given depends on the nature and scale of the problem, and some states had lots of problems.

Auditing 189
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The difference between expenses and losses

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What are Expenses? An expense is an incurred cost that has been consumed in order to earn revenues. Examples of expenses are compensation expense, rent expense , the cost of goods sold , and utilities expense. What are Losses? A loss is a reduction in value that is not related to earning revenue.

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The 6 Types of AWS Budgets for Cloud Cost Optimization

Economize

The agility and scalability offered by AWS services are unparalleled, the only downside is the complexity involved in managing cloud costs. The paradox is clear: as you unlock more cloud capabilities, you must also manage a complex web of billing and expenditure. AWS Budgets is a go-to resource for keeping AWS costs transparent and manageable.

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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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Total manufacturing cost definition

Accounting Tools

Related Courses Accounting for Inventory Cost Accounting Fundamentals Operations Management What is Total Manufacturing Cost? Total manufacturing cost is the aggregate amount of cost incurred by a business on its production operations within a reporting period. It includes all possible costs incurred by the production function, including direct materials , direct labor , and factory overhead.

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More Firms Should Build Online Communities

Future Firm

Despite many businesses not practicing this yet, having an online community is trending heavily as of late. In this episode, I shared the reasons why you should consider starting your own online community for your clients. Listen Below. 0:53 – An online community unites people with shared interests, enabling collaboration, problem-solving, resource sharing, networking, and faster goal attainment. 2:08 – Some firms have already embraced this strategy, including RealtyTax, in which its

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Are Internal Communications killing your deals?

Nanonets

Scattered Communication across tools eats into critical sales time of your sales rep. A report from Mckinsey says about a 3rd of all sales ops tasks can be automated and help managers generate 25-30% higher revenue per rep. A deeper dive into the deal value chain shows a complex intertwining of tools that require painful manual work in each step of the chain - Deal Steps Activities % Potential Automation Feasibility Assessment Use Typeform to get customer requirements, collaborate with product t

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The Big Benefits of Tax Planning: Why You Need to Create a Tax Plan

Outsourced Bookeeping

Are you looking for an effective financial strategy that allows you to minimize your tax liabilities? Are your tax obligations becoming too much for you? This is where a tax plan comes in! A tax plan is not an invention of the 20 th Century but has existed for a long time as many businesses and individuals use tax plans to manage their tax liabilities.

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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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How to search in Confluence

Nanonets

Introduction Confluence is a collaboration tool developed by Atlassian, designed to help teams collaborate and share knowledge efficiently. In the modern workspace, the ability to work together digitally is invaluable. Confluence facilitates this by offering a platform where teams can create, share, and collaborate on projects all in one place. Beyond mere collaboration, Confluence stands out with features like real-time editing, integration with other Atlassian products, and a user-friendly int

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Price earnings multiple definition

Accounting Tools

Related Courses Corporate Finance Investor Relations Guidebook Public Company Accounting and Finance What is the Price Earnings Multiple? The price earnings multiple compares the earnings per share reported by a company to the market price of its common stock. This multiple is used by investors to judge how expensive a share of the company's stock is.

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Member Spotlight: Tools for Credit Expansion

NACM

B2B credit management is more than just a career—it's a lifestyle. Credit professionals are constantly adapting and learning more about industry trends, their customers, their peers and themselves. With six levels of professional certifications in NACM's Professional Certification Program, credit professionals are not only gaining knowledge and sha.

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Operating ratios

Accounting Tools

Related Courses Business Ratios Guidebook Key Performance Indicators The Interpretation of Financial Statements Operating ratios compare the operating expenses and assets of a business to several other performance benchmarks. The intent is to determine whether the amount of operating expenses incurred or assets used is reasonable. If not, management can take steps to prune back on certain expenses or assets.

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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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Don Jr. Explains GAAP & Why No One's Going Into Accounting

Cloud Accounting Podcast

Blake and David dig into the use of AI agents in solving problems, emphasizing the effectiveness of assigning different roles to the agents and having them interact with each other to reach satisfactory results. They also discuss the latest accounting news, including the recent arrest of an IRS contractor, the IRS slashing the PTIN fee, ongoing trials, and cyber-attacks.

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Voided check definition

Accounting Tools

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash What is a Voided Check? A voided check is a check that has been cancelled. Once it has been appropriately voided, a check cannot be used. There are several possible reasons for a voided check. For example, there was a mistake in filling out the check, or the check was blank or only partially filled in, or the check was issued in error, or the check was submitted by an employee to an empl

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Cash conversion cycle definition

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is the Cash Conversion Cycle? The cash conversion cycle measures the time period required to convert resources into cash. The intent behind the measurement is to determine how long invested funds are tied up in the production and sales processes. A short duration cash conversion cycle allows a business to be operated with a smaller up-front cash investment.

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The difference between vertical analysis and horizontal analysis

Accounting Tools

Related Courses Financial Analysis The Interpretation of Financial Statements What is Vertical Analysis? Vertical analysis is the proportional analysis of a financial statement , where each line item on the statement is listed as a percentage of another item. This means that every line item on an income statement is stated as a percentage of gross sales , while every line item on a balance sheet is stated as a percentage of total assets.

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Unlock The Blueprint: How To Construct A Better Payment Workflow

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.