Fri.Oct 27, 2023

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Tech News: EY and AuditBoard release risk assessment tools

Accounting Today

Plus, Gusto and FreshBooks jointly release FreshBooks Payroll; and other accounting technology news.

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The Art of Employee Recognition at a Growing Remote Company | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

Join your host, Kevin Drye, and Director of Marketing, Andrea Boccard, as they take a deep dive into the art of appreciating your workforce.

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Career sustainability: A super-skill for women in accounting

Accounting Today

The 2023 Accounting MOVE Project report focuses on how women can navigate the shifting workplace in the accounting profession.

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How Intuit’s tech culture helped me grow as an individual and engineer

Intuit

Tell us about your career journey to Intuit. How did you learn about the Apprenticeship Pathway Program ? Anything you would like to share about that experience? I learned about the Apprenticeship Pathway Program through G{Code}, an organization that teaches the basics of web development to women and non-binary POC. It was a challenging but life-changing experience.

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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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Small businesses see sales decline

Accounting Today

Small businesses are experiencing the weakest sales since 2020, according to a new report from Xero, despite signs of an improving economy.

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11 Best Movies Accountants Must Watch in 2024

Ace Cloud Hosting

In a world where numbers and spreadsheets often take center stage, it’s time for accountants and financial enthusiasts to let their hair down and embrace the cinematic side of life.

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Invoice Financing: Breaking Down the Basics and Real-World Success Stories 

FundThrough

Cash flow issues can feel like an uphill battle for many business owners, especially when you’re waiting on unpaid invoices. We get it – as both both finance leaders and entrepreneurs ourselves, we know all too well how cash flow can make or break a business. As traditional methods like lines of credit become more […] The post Invoice Financing: Breaking Down the Basics and Real-World Success Stories appeared first on FundThrough.

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What comes next in the IRS's ERC withdrawal process?

Accounting Today

The Internal Revenue Service is providing a way for businesses to withdraw incorrect claims for the Employee Retention Credit, but what about the claims that have been paid out already?

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The difference between cost accounting and financial accounting

Accounting Tools

Related Courses Accountants’ Guidebook Cost Accounting Fundamentals There are a number of differences between cost accounting and financial accounting , which are noted below. In brief, the key differences between cost and financial accounting are that cost accounting is inwardly focused on management decisions, while financial accounting is focused on issuing financial statements to outside parties.

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EY cuts U.K. partner payouts as Big Four face slowdown

Accounting Today

Partners at the Ernst & Young in the U.K. saw their share of profits drop for the first time in three years as the Big Four face economic uncertainty.

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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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Window dressing in accounting

Accounting Tools

Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud What is Window Dressing? Window dressing is actions taken to improve the appearance of a company's financial statements. Window dressing is particularly common when a business has a large number of shareholders , so that management can give the appearance of a well-run company to investors who probably do not have much day-to-day contact with the business.

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CPA services aren't keeping up with changing times

Accounting Today

The business model of a CPA firm has shifted, and many firms are still not acknowledging that.

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Group depreciation definition

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Group Depreciation? Group depreciation is the practice of assembling several similar fixed assets into a single group, which is used in aggregate as the cost base for depreciation calculations. Assets should only be assembled into a group if they share similar characteristics and have approximately the same useful lives.

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Carbon offset market faces chaos as mega-project collapses

Accounting Today

An investigation found significant flaws in accounting behind carbon credits from Zimbabwe-based Kariba.

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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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How AvidXchange Empowers Political Campaigns

AvidXchange

Jamestown Associates is one of the nation’s premier political consulting firms, handling high-profile campaigns for TV, video, radio and mail. With a collection of award-winning editors, designers and top-tier political strategists, Jamestown has won countless industry awards and continues to thrive within the political landscape. From the initial client briefing to the execution of a media buy, Jamestown’s dedication to its clients’ success is apparent throughout its entire process, including

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On the move: Traphagen CPAs raises $1K for American Cancer Society

Accounting Today

REDW relocates Albuquerque office; Eide Bailly names nonprofit Project Chimps winner of its annual Resourcefullness Award; and more news from across the profession.

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Is Consumption-Based Pricing Right for Your Company?

Billing Platform

The next evolution of pricing models is not only here but revolutionizing how companies are billing for the products and services provided. Sometimes referred to as pay-as-you-go billing, usage-based pricing, or metered billing – a consumption-based pricing model charges based on what you use or consume. This provides customers with the potential to save a significant amount of money.

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What CPAs can learn from Turo

Accounting Today

Your competitors of the future are probably not who you think they are.

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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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Incorporations, LLCs, and Business Filings – Made Easy for Accountants with MyCorporation

Insightful Accountant

MyCorporation has been a reliable resource for accountants looking to complete business filings for their clients for more than 25 years.

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10 scary tax movies for Halloween

Accounting Fun

Tax Return of the Living Dead Silence of the ledgers Friday 31st January Rosemary's Bookkeeper The Taxorcist Auditor Dogs VATman begins Psycho tax inspector Phantom of the Tax Office Little shop of HMRC

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Headlines: Questions Surround Justice Thomas' RV Loan

Cloud Accounting Podcast

A recent report alleges Supreme Court Justice Clarence Thomas failed to disclose that a $267,000 recreational vehicle loan from a friend was forgiven, raising questions about potential tax issues and scrutiny around the justice's financial practices. Need CPE? Get CPE for listening to podcasts with Earmark: [link] Subscribe to the Earmark Podcast: [link] Get in Touch Thanks for listening and the great reviews!

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Profit center definition

Accounting Tools

What is a Profit Center? A profit center is a business unit or department within an organization that generates revenues and profits or losses. Management closely monitors the results of profit centers, since these entities are the key drivers of the total results of the parent entity. Management typically uses profit center results to decide whether to allocate additional funding to them, and also whether to shut down low-performing units.

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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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Burnout: The Corporate Vampire Sucking Life from Your Employees

NACM

?️ On today's episode of NACM's Extra Credit podcast.?‍♂️ Burnout has become a corporate vampire, draining the life out of employees through emotional exhaustion and lost productivity.

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How to calculate working capital

Accounting Tools

Related Courses Working Capital Management Working capital is calculated by subtracting current liabilities from current assets. It is used in several ratios to estimate the overall liquidity of a business; that is, the ability to meet obligations when due. At a high level, the calculation of working capital is as follows: Current assets - Current liabilities = Working capital The working capital figure will likely change every day, as additional accounting transactions are recorded in the accou

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Account analysis definition

Accounting Tools

Related Courses Bookkeeping Guidebook New Controller Guidebook What is Account Analysis? Account analysis involves an examination of the detailed line items comprising an account. Account analysis is particularly common for those accounts included in the balance sheet , since these are real accounts whose balances continue from year to year. Without proper account analysis, these accounts tend to build up amounts that should have been purged at some point in the past.

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Unqualified opinion definition

Accounting Tools

Related Courses How to Conduct an Audit Engagement What is an Unqualified Opinion? An unqualified opinion is an audit report that has been issued with no reservations regarding the state of an audit client's financial statements. In this opinion, the auditor follows a standard opinion format to state that the financial statements are a fair representation of the financial results and condition of a client, in accordance with the applicable accounting framework (such as GAAP ).

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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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Loan payable definition

Accounting Tools

Related Courses The Balance Sheet What is a Loan Payable? A loan is an arrangement under which the owner of property allows another party the use of it (usually cash ) in exchange for an interest payment and the return of the property at the end of the lending arrangement. The loan is documented in a promissory note. If any portion of the loan is still payable as of the date of a company's balance sheet , the remaining balance on the loan is called a loan payable.

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Uncleared check definition

Accounting Tools

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash What is an Uncleared Check? An uncleared check is a check that has not yet been paid by the bank on which it was drawn. Such a check has already been recorded by the payee and presented to its bank. There is a clearing cycle that must then be completed that lasts several days.

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Composite depreciation definition

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Composite Depreciation? Composite depreciation is the application of a single straight-line depreciation rate and average useful life to the calculation of depreciation for a group of disparate fixed assets. The method is used to calculate depreciation for an entire asset class , such as office equipment or production equipment.

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Undeposited checks definition

Accounting Tools

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash What are Undeposited Checks? Undeposited checks are checks that have been received from customers , but not yet deposited. There are several possible reasons why a business might have undeposited checks, including the following: The business operates on the cash basis of accounting , and does not want to record any additional income in the current reporting period.

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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.