Insightful Accountant
OCTOBER 22, 2023
As part of security enhancements being implemented between mid-October and the end of November 2023, Chase Bank will require all QBO and QuickBooks Desktop users to reconnect their bank connections.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Inventory Inventory Management What is Stock Taking? Stock taking is the counting of on-hand inventory. This means identifying every item on hand, counting it and summarizing these quantities by item. There may also be a verification step, where the count results are compared to the inventory unit counts in a company's computer system.
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Insightful Accountant
OCTOBER 22, 2023
US and Canadian users of Sage 50 now can integrate Sage HR to bring together their accounting, HR and payroll functionalities to streamline their operational environment.
Accounting Tools
OCTOBER 22, 2023
Related Courses The Balance Sheet The Income Statement The Statement of Cash Flows The following are all qualitative characteristics of financial statements. Understandability The information must be readily understandable to users of the financial statements. This means that information must be clearly presented, with additional information supplied in the supporting footnotes as needed to assist in clarification.
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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.
NextProcess
OCTOBER 22, 2023
Improve Supplier Relationships with Procurement KPI Tracking With the current state of the economy, tracking and analyzing spend is more important than ever before. To accurately assess the whole procure-to-pay cycle, your company needs to identify Key Performance Indicators. Tracking these KPIs gives you insight into spend, letting you know if the company is performing well and hitting goals.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the Prudence Concept? Under the prudence concept, do not overestimate the amount of revenues recognized or underestimate the amount of expenses. Also, one should be conservative in recording the amount of assets , and not underestimate liabilities. The result should be conservatively-stated financial statements.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Accounting Tools
OCTOBER 22, 2023
Related Courses Cost Accounting Fundamentals What is Variable Cost? A variable cost is a cost that varies in relation to either production volume or the amount of services provided. If no production or services are provided, then there should be no variable costs. If production or services are increasing, then variable costs should also increase. How to Calculate Total Variable Costs To calculate total variable costs, multiply the total quantity of units produced by the variable cost per unit.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is Relevance in Accounting? Relevance is the concept that the information generated by an accounting system should impact the decision-making of someone perusing the information. The concept can involve the content of the information and/or its timeliness, both of which can impact decision making.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Inventory Cost Accounting Fundamentals What is a Job Cost Sheet? A job cost sheet is a compilation of the actual costs of a job. The report is compiled by the accounting department and distributed to the management team, to see if a job was correctly bid. The sheet is usually completed after a job has been closed, though it can be compiled on a concurrent basis.
Accounting Tools
OCTOBER 22, 2023
Related Courses New Manager Guidebook Operations Management What is Kaizen? Kaizen is a continuous improvement process that targets small, incremental enhancements to existing processes. It usually involves a large proportion of the work force of an organization. Kaizen is most commonly targeted at production processes but can be applied anywhere within a business.
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.
Accounting Tools
OCTOBER 22, 2023
Related Courses Budgeting Capital Budgeting Financial Analysis What are Profit Variances? Profit variance is the difference between the actual profit experienced and the budgeted profit level. There are four types of profit variance, which are derived from different parts of the income statement. They are noted below. A profit variance is considered to be favorable if the actual profit is greater than the budgeted amount.
Accounting Tools
OCTOBER 22, 2023
Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Capital Adequacy Ratio? The capital adequacy ratio measures the ability of a bank to meet its obligations by comparing its capital to its assets. Regulatory authorities monitor this ratio to see if any banks are at risk of failure. The intent behind their monitoring is to protect the financial system from the negative effects of any bank failures, which includes protecting the funds of bank depositor
Accounting Tools
OCTOBER 22, 2023
Related Courses Business Combinations Divestitures and Spin-Offs Mergers and Acquisitions Nonprofit Accounting What is the Carryover Method of Accounting? When there is a merger of nonprofit entities, a new nonprofit entity is created. A merger occurs when the existing entities cede control to a new nonprofit. The carryover method is used to account for this event.
Accounting Tools
OCTOBER 22, 2023
Related Courses Payables Management What is the Net Method of Recording Accounts Payable? Under the net method of recording accounts payable , supplier invoices are recorded at the amount that will be paid after any early payment discounts have been applied. This differs from the standard approach, under which the full amount of each supplier invoice is initially recorded, with any early payment discounts recorded only when payment is eventually made.
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.
Accounting Tools
OCTOBER 22, 2023
Related Courses Cost Accounting Fundamentals In a standard costing system, most companies go through a cost updating process once a year, in order to bring standard costs more closely in alignment with actual costs. However, there are cases where actual costs fluctuate considerably over time, resulting in large positive or negative variances. In these cases, you can either update costs on a more frequent schedule or in response to a triggering event.
Accounting Tools
OCTOBER 22, 2023
Related Courses Credit and Collection Guidebook Financial Analysis What is Residual Income? There are three definitions of residual income. They involve the remaining amount of income after all bills are paid, the income from passive investments, and the difference between operating income and the cost of capital. We address each one below. Residual Income for the Individual Residual income is the amount of personal income left after an individual has paid his bills and periodic mortgage payment
Accounting Tools
OCTOBER 22, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook A general ledger account is a record in which is recorded a specific type of transaction. These transactions can relate to assets , liabilities , equity , sales , expenses , gains , or losses - in essence, all of the transactions that are aggregated into the balance sheet and income statement.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Stock-Based Compensation What is a Reload Feature? A reload feature automatically grants additional stock options whenever an option holder exercises previously granted options using an entity's shares to satisfy the exercise price. New stock options granted under this feature have the same expiry date as the old options.
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.
Accounting Tools
OCTOBER 22, 2023
Related Courses Investor Relations Guidebook Public Company Accounting and Finance What is Cockroach Theory? The cockroach theory states that unexpected negative news from a business is probably an indicator that there is more negative news that has not yet been revealed. The name is derived from the concept that the visible presence of one cockroach likely indicates the presence of many more that have not yet been found.
Accounting Tools
OCTOBER 22, 2023
Related Courses Budgeting Capital Budgeting Purchasing Guidebook What is the Purchases Budget? A purchases budget contains the amount of inventory that a company must purchase during each budget period. The amount stated in the budget is the amount needed to ensure that there is sufficient inventory on hand to meet customer orders for products. At the simplest level, the purchases budget can simply match the exact number of units expected to be sold in the budget period.
Accounting Tools
OCTOBER 22, 2023
Related Courses Business Ratios Guidebook Environmental Accounting The Interpretation of Financial Statements What are Environmental Metrics? Given the growing worldwide emphasis on pollution reduction, companies should be aware of how their operations impact the environment. Since accountants are in the business of issuing operational reports, we should consider becoming involved in providing environmental metrics to management.
Accounting Tools
OCTOBER 22, 2023
Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is a Private Investment in Public Equity? A private investment in public equity (PIPE) occurs when a public company sells its securities to accredited investors. Doing so reduces the filing paperwork for the seller. Private investors are usually willing to engage in such a transaction when they are offered a discount from the market price of a company's securities, typically in the range of a 10% to 25% discou
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
Accounting Tools
OCTOBER 22, 2023
Related Courses Cost Accounting Fundamentals What are Indirect Expenses? Indirect expenses are those expenses that are incurred to operate a business as a whole or a segment of a business, and so cannot be directly associated with a cost object , such as a product, service, or customer. A cost object is any item for which you are separately measuring costs.
Accounting Tools
OCTOBER 22, 2023
Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is Overhead Incurred? Overhead incurred is the indirect costs that an entity actually experiences during a reporting period. These costs are accumulated in an overhead cost pool. Overhead absorbed is the amount of overhead allocated to products and services.
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