Fri.Aug 09, 2024

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Tech news: Accounting tech space sees major acquisitions this week

Accounting Today

Accounting tech space sees major acquisitions this week; Bitwave releases Data Fusion tool for digital assets; TaxValet gains B-corp status; and other accounting tech news.

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Running with data scientists: what it’s like to work in a dynamic tech culture

Intuit

The work of data scientists isn’t easily understood. Their work begins with laying a strong data foundation to perform robust data explorations followed by employing a set of mathematical techniques and experiments to deliver durable benefits. But it is not just the promising nature of their work. The environment in which they thrive empowers them to create meaningful experiences for customers and see impact in the business world.

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On the move: Centri hires tax senior director

Accounting Today

DMJPS launches Be Greater Scholarship to celebrate 75th anniversary; Weaver adds three to transaction advisory services; and more news from across the profession.

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What are Large Language Models (LLMs)

Nanonets

Introduction We’ve all asked Alexa to play a song, or Siri to call someone, or ChatGPT to answer our questions. It’s quite fascinating how technology has advanced to a point where it can understand our intent and give us context aware responses. But what exactly is the technology behind all of this? Large Language Models (LLMs) are AI systems that can understand human language, and also generate context aware responses based on it.

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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 With construction projects becoming more complex, outdated processes are no longer sustainable.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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SEC proposes joint data standards

Accounting Today

The proposal, under the Financial Data and Transparency Act of 2022, will make financial data more accessible, uniform and useful to the public.

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Red Kite Learning Trust

Compleatable

“We have 14 schools using Compleat, each primary and secondary school can easily buy online with our suppliers including Amazon Business and YPO using Integrated Online Buying… “…Finance have real-time visibility of the status of all purchases and invoices across our schools…” – James Rant, Finance Director of Red Kite Learning Trust Download Testimonial The post Red Kite Learning Trust first appeared on Compleat Software.

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Milton Abbey School

Compleatable

“With iCompleat we have achieved this, saving a huge amount of time on invoice processing, while also granting greater visibility and process compliance across departments “…I would happily recommend iCompleat to any finance team in the Education sector…” – Terry Harding, School Accountant at Milton Abbey School Download Testimonial The post Milton Abbey School first appeared on Compleat Software.

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Cloudwashing deception: Why real cloud payroll matters

Accounting Today

Many payroll systems claim to be cloud-native, yet fail to deliver the true benefits.

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Top 5 Financial Mistakes Businesses Make and How to Avoid Them

Enterprise Recovery

Navigating the financial landscape of business operations can be daunting, regardless of the company's size. From small startups to large corporations, financial challenges constantly require careful planning and strategic decision-making. Whether managing cash flow, setting financial goals, staying compliant with taxes, or planning for growth, businesses must proactively address these challenges to ensure long-term success and sustainability.

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Debby victims in Southeast get tax relief

Accounting Today

The IRS has postponed payment and filing deadlines for those affected by the storm.

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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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Intercompany loan definition

Accounting Tools

What is an Intercompany Loan? Intercompany loans are loans made from one business unit of a company to another, usually for one of the following reasons: To shift cash to a business unit that would otherwise experience a cash shortfall To shift cash into a business unit (usually corporate) where the funds are aggregated for investment purposes To shift cash within business units that use a common currency, rather than sending in funds from a foreign location that will be subject to exchange rate

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Federal tax update: A six-month look back

Accounting Today

Everything you need to know about regs, judicial decisions, IRS pronouncements and more from the first half of 2024.

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Inventory change definition

Accounting Tools

What is an Inventory Change? Inventory change is the difference between the inventory totals for the last reporting period and the current reporting period. The concept is used in calculating the cost of goods sold , and in the materials management department as the starting point for reviewing how well inventory is being managed. It is also used in budgeting to estimate future cash requirements.

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Honkamp adds Brems Group

Accounting Today

With the merger, the Regional Leader will add offices in Cedar Rapids and Coralville, Iowa.

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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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Free tax advice?

Accounting Fun

Years ago I heard a great story that accountant Keith Lawrence assured me was true. He had taken an initial phone call from someone wanting help with their tax. After a brief conversation Keith invited them in to meet with him to see if he could help (and to see if he wanted to take them on as a client). On their arrival the 'client' looked around and expressed a little surprise that the office was smaller than he'd expected.

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QuickBooks Payments added to ProAdvisor Revenue Share Program

Accounting Today

Eligible professionals can now earn revenue share with QuickBooks Payments

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Earmark Media Presents: Best Metrics for Property Management and Development (Best Metrics)

Cloud Accounting Podcast

Earmark Media Presents a bonus episode of Best Metrics: In this episode, host Glenn Dunlap is joined by Kenya Brooks, a partner at Saville CPAs and Advisors, to discuss the unique challenges and opportunities in property management and development accounting. They explore key metrics to monitor financial statements, the impact of economic trends on the real estate industry, and strategies for navigating client relationships during both prosperous and challenging times.

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Accounts Payable Process: Paper vs. Paperless  

AvidXchange

Table of Contents: What is the Accounts Payable Process | The Paper-Based Accounts Payable Process | The Paperless Accounts Payable Process | Key Differences Between Paper-Based and Paperless AP Processes | Converting Paper-Based to Paperless Accounts Payable The traditional accounts payable process can be time-consuming and reliant on repetitive manual work.

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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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Year-Round Tax and Accounting: Should You Meet with an Accountant Every Month?

CSI Accounting & Payroll

Most small business owners only meet with an accountant annually, so you may think that meeting a couple more times for tax planning will make all the difference.

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Net assets released from restrictions

Accounting Tools

What are Net Assets Released from Restrictions? Net assets released from restrictions refers to those restricted assets that have been re-classified as unrestricted net assets. This transfer occurs because the original donor-imposed restrictions associated with certain assets have been satisfied. The outcome is greater availability of funding for the alternative activities of a nonprofit entity.

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How Taxes Shape Our Economy and Lives

Earmark Accounting Podcast

Join Blake Oliver, CPA, and Scott Hodge, President Emeritus and Senior Policy Advisor at the Tax Foundation, for an engaging and insightful webinar that delves into the complexities of tax policy as discussed in Scott's new book, "Taxocracy." Discover how tax policies impact everyday expenses like housing, healthcare, and education, and learn surprising historical tax facts such as the 18th-century British “window tax” and its relevance to today's proposed wealth taxes.

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Is standard costing allowable in GAAP and IFRS?

Accounting Tools

What is Standard Costing? Standard costing is the practice of substituting an expected cost for an actual cost in the accounting records. Subsequently, variances are recorded to show the difference between the expected and actual costs. This approach represents a simplified alternative to cost layering systems, such as the FIFO and LIFO methods, where large amounts of historical cost information must be maintained for inventory items held in stock.

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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.