Accounting Today

JULY 11, 2024

The agency is hoping to counter a widespread impression that people can get away without paying their taxes, according to Commissioner Werfel.

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Accounting Department

JULY 11, 2024

Running a small to medium-sized business (SMB) comes with its own set of challenges and rewards. One of the most pivotal aspects of ensuring your business's success is strategic financial planning. While it might seem daunting, mastering this process can propel your business growth and profitability to new heights. This blog post will walk you through the critical steps in strategic financial planning tailored specifically for SMB owners.

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Budgeting Small Business Accounting Bookkeeping Services Account Bookkeeping 219

Accounting Today

JULY 11, 2024

For financial advisors, tax professionals and their clients, the opportunities and acronyms look endless. Three experts explain the key questions to consider.

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Tax 239

Xero

JULY 11, 2024

Small businesses are the heroes of our economy. Yet they are not well defended when it comes to late payments, which cost UK businesses an estimated £1.6 billion in 2023.* The problem is politely called ‘late payment’ which makes it sound like a legitimate business practice. But it’s not. Late payments can drown small businesses. Late payers are holding on to other people’s money without permission, so we see this instead as unapproved debt.

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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

Accounting Today

JULY 11, 2024

After my last column about spreading out the tax season, several readers contacted me to share their experiences about making busy season more sane.

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Tax 200

Fidesic blog

JULY 11, 2024

Payments fraud increased in 2023 for the first time since we started watching and sharing results from the annual AFP Payments Fraud and Control Survey Report.

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Accounts Payable Accounts Payable Accounting Accounting 130

Insightful Accountant

JULY 11, 2024

MyWorks is an eCommerce integration app that can connect QuickBooks Online, QuickBooks Desktop, and Xero with WooCommerce and Shopify. Murph would like to make you 'App' aware of this highly functional tool if you're looking for an eCommerce app.

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QuickBooks XERO 105

Accounting Today

JULY 11, 2024

The Accounting and Financial Reporting Council is still carrying out a separate investigation into audits on China Evergrande Group.

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Auditing Financial Reporting Accounting Accounting 189

Plooto

JULY 11, 2024

Financial technology (fintech) makes it easier for businesses to do everything from issuing invoices and processing payments to managing expenses and making payroll. These solutions are the behind-the-scenes tools that quite literally allow businesses to send and receive money.

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Accounting Today

JULY 11, 2024

Action; very little cash; not from around here; and other highlights of recent tax cases.

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Tax 208

Speaker: Amanda Adams, Fractional CFO, CPA

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

Accounting

Accounting Tools

JULY 11, 2024

What is Off Balance Sheet? Off balance sheet refers to those assets and liabilities not appearing on an entity's balance sheet , but which nonetheless effectively belong to the enterprise. These items are usually associated with the sharing of risk or they are financing transactions. Off balance sheet liabilities are a particular concern, since they might eventually result in substantial liabilities for and payments by the reporting entity.

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Accounting Today

JULY 11, 2024

The International Auditing and Assurance Standards Board issued new advice for auditing smaller companies.

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Accounting Tools

JULY 11, 2024

What is Just-in-Time Production? Just-in-time production minimizes the time, labor, and materials in a manufacturing process. It does so by only producing goods as they are needed. The desired outcome is a streamlined production system that maintains a minimal amount of on-site raw materials , minimal wait times in the production process, and small batch sizes.

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Economize

JULY 11, 2024

Introduction to AWS NAT Gateway and its Costs The costs associated with using AWS NAT Gateways can quickly become a significant expense, especially when data transfers are not optimally managed.

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Computation 59

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.

Accounting

Accounting Tools

JULY 11, 2024

What is Two-Bin Inventory Control? Two-bin inventory control involves the storage of goods in two bins, one of which contains working stock and the other containing reserve stock. The amount of inventory kept in the reserve stock bin equals the amount the company expects to use during the ordering lead time associated with that item. To use this system, one should reorder goods as soon as the working stock bin is empty, so that replacement parts arrive before the reserve stock bin is empty.

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Computation 75

Ace Cloud Hosting

JULY 11, 2024

Did You Know? This data from Fit Small Business shows how QuickBooks is widely used worldwide and is highly reliable and popular for managing financial functions like income, expenses, employee.

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Accounting Tools

JULY 11, 2024

What are Supplies? Supplies are incidental items used during the course of production, or as part of an organization’s administrative activities. The total cost of supplies tends to be quite low, and the per-unit cost of supplies is also usually quite low. Examples of supplies are paper, staples, and toner cartridges. What is the Accounting for Supplies?

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accountingfly

JULY 11, 2024

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 accounting candidates with no upfront cost. These are just a few of our top remote accounting candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

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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.

Financial Statements

Accounting Tools

JULY 11, 2024

What are Direct Materials? Direct materials are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product. Items designated as direct materials are usually listed in the bill of materials file for a product. The bill of materials itemizes the unit quantities and standard costs of all materials used in a product, and may also include an overhead allocation.

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Gaviti

JULY 11, 2024

The traditional accounts receivable process is full of manual processes that are prone to error. What’s worse, inefficiencies in these processes can lead to unpaid invoices, late payments and the inability to generate the revenue that your business rightfully earned. As a result, many businesses turn to accounts receivable automation solutions. If you’ve decided your business is ready to move to automating its A/R, you’ll want to find the best A/R automation software, also called invoice to cash

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Accounts Receivable Account Receivables Accounts Receivable Bank Reconciliation 52

Accounting Tools

JULY 11, 2024

What are Level 1 Inputs? Level 1 inputs are at the top of a hierarchy of information sources that range from Level 1 (best) to Level 3 (worst). The general intent of these levels of information is to step the accountant through a series of valuation alternatives, where solutions closer to Level 1 are preferred over Level 3. A Level 1 input is a quoted price for an identical item in an active market on the measurement date.

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CSI Accounting & Payroll

JULY 11, 2024

Nobody gets reimbursed for their commute to and from work. However, when your employees drive their cars for business purposes, you can reimburse them.

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Small Business Accounting Tax Accounting Accounting 52

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

Earmark Accounting Podcast

JULY 11, 2024

Explore cutting-edge hiring solutions for accountancy firms with Robin Thieme, CEO and founder of KBS CFO, and industry expert Blake Oliver. Learn how work simulations provide a "try before you buy" approach, ensuring a better fit for the firm and the candidate. Discover the benefits of apprenticeship programs, which KBS CFO has successfully implemented.

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Accounting Tools

JULY 11, 2024

How to Account for Joint Ventures The accounting for a joint venture depends upon the level of control exercised over the venture. If a significant amount of control is exercised, the equity method of accounting must be used. In this article, we address the concept of significant influence , as well as how to account for an investment in a joint venture using the equity method.

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Accounting Accounting 40

oAppsNet

JULY 11, 2024

Automating Environmental, Social, and Governance (ESG) reporting is becoming an essential strategy for companies committed to sustainability. By automating the ESG reporting process, businesses can streamline data collection, improve accuracy, and ensure timely dissemination of information. Automation helps integrate sustainability into the core business processes, making it a critical component of operational strategy.

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Collections Auditing 40

Accounting Tools

JULY 11, 2024

What is the Sinking Fund Method of Depreciation? The sinking fund method of depreciation is used when an organization wants to set aside a sufficient amount of cash to pay for a replacement asset when the current asset reaches the end of its useful life. As depreciation is incurred, a matching amount of cash is invested, with the interest proceeds being deposited into an asset replacement fund.

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Deposits Auditing Accounting Accounting 40

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Insightful Accountant

JULY 11, 2024

Intuit has announced that it is laying off 1,800 employees.

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Accounting Tools

JULY 11, 2024

What is a Municipal Bond? A municipal bond is a debt security that has been issued by a local government entity. Examples of these issuers are state, county and city governments. Municipal bonds are commonly used to fund the construction of roads, schools, airports, hospitals, wastewater treatment facilities and other infrastructure projects. Advantages of Municipal Bonds The interest income that an investor receives from a municipal bond is exempt from federal taxation and may also be exempt fr

Corporate Finance 40

Corporate Finance Tax Accounting Accounting 40

Accounting Tools

JULY 11, 2024

What is a Bill of Activities? A bill of activities is a listing of those actions required to complete a product or provide a service. The standard costs of these activities are also listed, so that you can compile the aggregate cost of the activities on a per-unit basis. Activities are usually listed in the sequence in which they are employed. A bill of activities is a useful tool for calculating the total cost of the activities associated with a product or service, which gives you some idea of

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Billing 40

Accounting Tools

JULY 11, 2024

What is Optimal Capital Structure? The optimal capital structure of a business is the blend of debt financing and equity financing that minimizes its weighted-average cost of capital while maximizing its market value. Debt financing is less expensive than equity financing, since the interest expense associated with debt is tax deductible , while dividend payouts are not tax deductible.

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Financial Analysis Corporate Finance Tax 40

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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.