Sun.Oct 01, 2023

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The Leadership Files: Jennifer Leary

Accounting Today

The chief of CLA shares the importance of empathy, authenticity and drive.

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How to think like a cyber criminal to protect your business

Xero

Over the last 12 months, millions of customers around the world have been impacted by some of the biggest data breaches in history. As a small business or advisor working with sensitive personal and financial information every day, the stakes are high. If your business or practice experienced a data breach, it could have a serious impact on your livelihood.

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How to Calculate Costs for Your Trucking Company

CSI Accounting & Payroll

Staying profitable in the transportation industry is a challenge these days, whether you're in freight or specialized trucking. Without a proper way to track and control operational expenses for your trucking company, you run the risk of going out of business. One way to gauge profitability is to calculate the cost per mile for each of your trucks. That way, you’ll have a better understanding of your expenses when it comes time to charge your customers.

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The difference between nominal accounts and real accounts

Accounting Tools

Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Nominal Account? A nominal account is one that is closed out at the end of each fiscal year. What is a Real Account? A real account carries forward its ending balance into the following year. Comparing Nominal Accounts and Real Accounts A nominal account starts the next fiscal year with a zero balance, while a real account starts with the ending balance from the prior 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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Ep. 236: Ashish Gupta - The Role of CFO in Developing a Sustainable Earnings Model

IMA's Count Me

In this episode, host Adam Larson sits down with Ashish Gupta , CFO North America at Reckitt, to explore the CFO's role in driving a sustainable earning model for businesses. Discover how Ashish's diverse leadership experience across continents has influenced his approach to sustainable growth and learn valuable insights on strategy, transformation, and execution.

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How HLK Scaled Its Business with Automation 

AvidXchange

HughesLeahyKarlovic (HLK) is a St. Louis-based creative and technology agency generating value for brands by connecting with audiences through powerful experiences. It focuses on creating brand experiences that accelerate behavior change by integrating into the lives of audiences, shaping their beliefs and producing excellent results. The Challenge HLK sought to automate its payments in anticipation of a large client onboarding that would triple its business.

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How to improve operating cash flow

Accounting Tools

Related Courses Working Capital Management There are several ways to improve the cash flows generated by the operations of a business. These methods are needed to keep from having to pay for expensive additional funding when cash requirements exceed the amount of cash on hand. 1. Collect Overdue Receivables Examine accounts receivable to see if there are any overdue invoices.

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How dividends affect the balance sheet

Accounting Tools

Related Courses Accountants’ Guidebook The Balance Sheet What are Dividends? A corporation may issue dividends to its shareholders , which represent a distribution of its retained earnings to them. Dividends may be issued either in the form of cash or as additional shares of stock. In both cases, the amount paid out is in proportion to the number of shares already held by shareholders.

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How to reduce the break-even point

Accounting Tools

Related Courses Cost Management Financial Analysis The break-even point of a business should be kept as low as possible, in order to keep the firm profitable even when sales decline. There are several ways to reduce the break-even point, as noted in the following points. Reduce Fixed Costs The typical company has many fixed costs , such as periodic rent payments, the salaries of administrative staff, and underutilized production equipment.

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Consolidated group definition

Accounting Tools

Related Courses The Balance Sheet The Income Statement The Statement of Cash Flows What is a Consolidated Group? A consolidated group is comprised of a parent company and all of its subsidiaries. Consolidated financial statements are issued for a consolidated group. The group may also file a consolidated tax return with the Internal Revenue Service.

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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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Contributory plan definition

Accounting Tools

Related Courses Accounting for Retirement Benefits What is a Contributory Plan? A contributory plan is a retirement plan that requires current employees or retirees to pay for a portion of the plan cost. Any amounts paid by employees are taken directly from their paychecks. Depending on the terms of the plan, these contributions may trigger increased benefit payments.

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How to calculate ending inventory

Accounting Tools

Related Courses Accounting for Inventory Ending inventory is a key requirement when a business is closing its books. It is needed to derive the cost of goods sold , which in turn is needed to calculate profits. Thus, without an accurate ending inventory figure, it is impossible to determine a firm’s profitability. To calculate ending inventory, add all purchases during the period to beginning inventory , and then subtract the cost of goods sold.

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Cooperative advertising definition

Accounting Tools

Related Courses Essentials of Marketing What is Cooperative Advertising? Cooperative advertising is a cost sharing arrangement to pay for advertising. Under this agreement, the manufacturer of goods agrees to compensate its distributors and retailers for a certain proportion of the advertising and promotion costs related to their sale of the manufacturer’s products.

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Inactive employee definition

Accounting Tools

Related Courses Human Resources Guidebook What is an Inactive Employee? An inactive employee is an individual whose employment has not been terminated and yet is not currently rendering any services to the employer. This individual is expected to return to work. Examples of Inactive Employees For example, a person who is on disability leave, maternity leave, medical leave, jury duty, or military service leave would be considered an inactive employee.

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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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Prior service cost definition

Accounting Tools

Related Courses Accounting for Retirement Benefits What is Prior Service Cost? Prior service cost is the cost associated with additional benefits that have been granted via an amendment to a pension plan. This cost applies to employee services rendered in prior periods.

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Firm commitment definition

Accounting Tools

Related Courses Corporate Finance Public Company Accounting and Finance Treasurer's Guidebook What is a Firm Commitment? A firm commitment is a promise to take a designated action within a specified period of time. The concept most commonly applies to a securities offering, where the underwriter commits to buy all unsold securities. Thus, the underwriter will purchase any remaining portion of the issuance that cannot be placed with investors.

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Incurred cost definition

Accounting Tools

Related Courses Cost Accounting Fundamentals What is an Incurred Cost? An incurred cost is a cost arising from the consumption of an asset or service, or from a loss that has been sustained. Proper business planning requires management to have a detailed understanding of incurred costs in relation to revenues , in order to maintain an adequate level of profitability.

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Explicit service period definition

Accounting Tools

Related Courses Accounting for Stock-Based Compensation What is an Explicit Service Period? An explicit service period is the amount of time stated in a share-based payment award that an employee must serve before the award will be paid out. For example, if an award document states that shares will vest after four years of continuous service, then four years is the explicit service period.

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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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Direct selling costs definition

Accounting Tools

Related Courses Effective Sales Management What are Direct Selling Costs? Direct selling costs include any expenditures made to secure a specific customer order. Examples of these costs are advertising targeted at new customers, sales commissions , travel to and from customer locations, and order processing costs. Direct selling costs do not include administrative expenses , facility costs, rent, or supervisory costs.

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Equity restructuring definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is an Equity Restructuring? An equity restructuring is a transaction between a corporation and its shareholders that alters the fair value of the shares associated with an option or similar reward. Examples of the equity instruments that may be altered in a restructuring are a rights offering , stock split , or stock dividend.

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Grant date definition

Accounting Tools

Related Courses Accounting for Stock-Based Compensation What is the Grant Date? A grant date is the date on which a stock option or other equity -based award is granted to the recipient. The grant date is considered to be that date on which an employer and an employee agree upon the most essential terms and conditions associated with the award. If shareholder approval is needed, then the grant date is considered to be delayed until that approval has been obtained, unless shareholder approval is

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Restricted stock definition

Accounting Tools

Related Courses Accounting for Stock-Based Compensation Corporate Finance What is Restricted Stock? A restricted share is stock that cannot be sold, due to a limitation associated with that specific share. For example, an agreement between the issuer of stock and an investor may stipulate that the investor cannot sell the shares for a period of three years.

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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 sales commissions are reported in the income statement

Accounting Tools

Related Courses Bookkeeping Guidebook The Income Statement What are Sales Commissions? A sales commission is the amount of compensation paid to a person based on the amount of sales generated. This is typically a percentage of sales, which is paid on top of a base salary. Accounting for Sales Commissions Any commissions expense is recognized under the accrual basis of accounting as soon as the business has incurred the expense.

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Foreign exchange risk definition

Accounting Tools

Related Courses Corporate Cash Management Enterprise Risk Management Foreign Currency Accounting What is Foreign Exchange Risk? Foreign exchange risk is the possibility that the value of a transaction or an investment will change because of variations in currency exchange rates. For example, a seller commits to be paid in 60 days in a different currency ; if the value of that currency declines during the intervening time period, the seller will incur a loss when the receivable is paid.

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The tax impact of accelerated depreciation

Accounting Tools

Related Courses Small Business Tax Guide What is Accelerated Depreciation? Accelerated depreciation is the depreciation of fixed assets at a faster rate early in their useful lives. This is done to recognize the increased usage experienced by some assets early on, as well as to reduce the amount of taxable income over the first few years of an asset’s useful life.

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