Wed.Oct 25, 2023

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Tax Strategy: Year-end 2023 tax planning

Accounting Today

In spite of the lack of new tax legislation so far this year, taxpayers and tax preparers have plenty to focus on in preparing 2023 returns.

Tax 347
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Winning Solution for BPOs: NetSuite BPO Program

Insightful Accountant

If you are a BPO or CAAS provider struggling with your current desktop or cloud accounting systems to support all of your clients, it might be time to look at NetSuite.

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Boomer's Blueprint: Elevating the client experience

Accounting Today

A firm's strength lies in its dedicated team of professionals committed to ensuring client satisfaction, regulatory compliance, and streamlined operations.

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Interim financial statements definition

Accounting Tools

Related Courses The Income Statement Public Company Accounting and Finance What are Interim Financial Statements? Interim financial statements are financial statements that cover a period of less than one year. They are used to convey information about the performance of the issuing entity prior to the end of the normal reporting year, and so are closely followed by investors.

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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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Practice Profile: A CPA 'Shark Tank'

Accounting Today

Lauterbach & Amen's innovation competition has enhanced firm creativity and team spirit.

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Hedge funds and how they work

Accounting Tools

Related Courses Accounting for Hedge Funds Corporate Cash Management Treasurer's Guidebook A hedge fund pools the money of contributing investors and tries to achieve above-market returns through a wide variety of investment strategies. Larger investors are attracted to the higher returns advertised by hedge funds, though actual returns are not necessarily better than the average market rate of return.

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Attribute sampling definition

Accounting Tools

Related Courses Guide to Audit Sampling How to Conduct an Audit Engagement What is Attribute Sampling? Attribute sampling involves selecting a small number of transactions and making assumptions about how their characteristics represent the full population of which the selected items are a part. The concept is frequently used by auditors to test a population for certain characteristics, such as the presence of an authorizing signature or approval stamp on a document.

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EY member firm faces inquiry by Indian regulator over Adani audits

Accounting Today

The NFRA has requested files and communications related to S.R. Batliboi's audits on some companies going as far back as 2014, sources said.

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Accounting breakeven point definition

Accounting Tools

Related Courses Financial Analysis The Interpretation of Financial Statements What is the Accounting Breakeven Point? The accounting breakeven point is the sales level at which a business generates exactly zero profits , given a certain amount of fixed costs that it must pay for in each period. This concept is used to model the financial structure of a business.

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Vendor Spotlight: Infinite Group Inc.

Accounting Today

In this Vendor Spotlight we talk to Andrew Hoyen, CEO of cybersecurity solutions provider Infinite Group Inc.

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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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Reserve accounting

Accounting Tools

Related Courses Bookkeeping Guidebook How to Audit Equity New Controller Guidebook What is the Accounting for Reserves? A reserve is profits that have been appropriated for a particular purpose. Reserves are sometimes set up to purchase fixed assets , pay an expected legal settlement, pay bonuses, pay off debt , pay for repairs and maintenance, and so forth.

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NetSuite beefs up AI capabilities

Accounting Today

While marking its 25th anniversary at its annual user conference, the accounting software vendor announced a number of new products and capabilities.

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Payroll procedure

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management How to Process Payroll The processing of payroll can produce errors in several places, which calls for a detailed process flow that also incorporates several controls. This procedure can be used to ensure that payroll is handled consistently on a repetitive basis.

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What do young accountants want to do with their lives?

Accounting Today

Nowadays a career in accounting requires more decisions and more self-knowledge — and more skillsets — than ever before.

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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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A 10-Step Checklist for Starting a Bookkeeping Business

Jetpack Workflow

You’re an expert bookkeeper ready, willing, and able to help other businesses keep their accounts in balance. However, before you begin tracking client transactions, you need to build the foundation of your own bookkeeping business. That requires several steps, including filing the proper permits, calculating your rates, and attracting your first clients.

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CPA.com releases generative AI toolkit

Accounting Today

CPA.com, in light of the technology's sudden popularity, has released a set of resources for accountants to educate themselves on artificial intelligence and assess its risks and opportunities.

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Small Business Financial Health Check

Bookkeeping Express

As a small business owner, you’re likely accustomed to wearing many hats, from managing day-to-day operations to handling customer inquiries. With so much on your plate, it’s easy to overlook one critical aspect of your business – its financial health. Regularly assessing your small business’s financial well-being is essential for long-term success.

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3 Ways to Reduce Latency in AWS S3 with Performance Tuning

Economize

Performance tuning in AWS S3 is a critical aspect that enterprises need to address to ensure that their cloud storage operates efficiently and effectively. S3, known for its scalability and reliability, often faces challenges regarding latency, which can impede the swift access and processing of data.

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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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Is My Business Subject to Sales Tax or Use Tax?

CSI Accounting & Payroll

As a business owner, taxes can be confusing. Unfortunately, for nearly all businesses, taxes are a year-round activity - usually when it comes to sales and use tax. At CSI Accounting & Payroll, we’ve worked with small business taxes since the 1960s. Since then, we’ve heard a lot of questions about sales and use tax from small business owners, including: What is sales tax?

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Digital Financial Inclusion

Tipalti

Fintech innovations are a game-changer for financial inclusion in America. Traditional banking can be inaccessible and costly for many people, particularly people from minority groups.

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4 Wow Moments to Level Up Your Onboarding Process

Future Firm

A good onboarding process can be a significant factor in retaining clients. Consider these 4 tactics to leave a lasting impression. The post 4 Wow Moments to Level Up Your Onboarding Process appeared first on Future Firm.

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From Auditor to Google: How This Accountant Landed His Dream Job

Blake Oliver

Have you ever dreamed of working at a top tech company like Google? It may seem out of reach, but my latest podcast guest Mike Manalac, CPA is living proof that it's possible. Mike took a leap of faith by quitting his public accounting job and moving across the country to San Francisco with no job lined up. After countless interviews and rejections, he finally cracked the code and landed his "dream job" at Google.

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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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Working off the books definition

Accounting Tools

Related Courses Form 1099 Compliance Payroll Management What is Working Off the Books? The concept of working off the books means that a person is being compensated in cash for services performed, but the payments are not recorded on the books of the employing business. The business offers this sort of arrangement in order to avoid paying any payroll taxes , as well as to avoid paying for workers' compensation insurance and any of the benefits normally offered to its employees, including medical

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Member Spotlight: Test Your Credit Knowledge with Certifications

NACM

From risk mitigation to financial analysis, credit professionals are constantly learning. And no matter how long they've been in the credit industry, there's always something new to learn. By earning a designation through NACM's Professional Certification Program, credit professionals are not only tested on their credit knowledge, but they are grow.

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Direct allocation method definition

Accounting Tools

Related Courses Activity-Based Costing Activity-Based Management Cost Accounting Fundamentals What is the Direct Allocation Method? The direct allocation method is a technique for charging the cost of service departments to other parts of a business. This concept is used to fully load operating departments with those overhead costs for which they are responsible.

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QuickBooks Launches Bill Pay | NetSuite Adds AI | How Financial Fraud Will Fill CPA Pipeline

Cloud Accounting Podcast

Blake and David discuss the factors that impact accountant salaries, including location, experience, and industry, and highlight the correlation between accounting salaries and overall economic conditions, noting that periods of economic growth can lead to higher salaries. They also take a look at the partnership between PwC and OpenAI and speculate on the potential impact of AI on accounting consulting and fraud detection.

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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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Cost incurred definition

Accounting Tools

Related Courses Cost Accounting Fundamentals What is Cost Incurred? A cost incurred is a cost for which a business has become liable, even if it has not yet received an invoice from a supplier as documentation of the cost. This is an accrual accounting concept. It is not used under the cash basis of accounting. Example of a Cost Incurred A manufacturing operation uses a large amount of electricity during the month of January, after which the local power company bills it $25,000 for the electrici

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Yield curve definition

Accounting Tools

Related Courses Economic Indicators Investing Guidebook What is a Yield Curve? A yield curve is a graphical representation of the yield on a particular type of bond , based on its maturity date. A normal yield curve shows a gradual increase in yield for bonds that mature further in the future, since it is riskier to hold the bonds for a longer period of time.

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Breakup fee definition

Accounting Tools

Related Courses Divestitures and Spin-Offs Mergers and Acquisitions What is a Breakup Fee? A breakup fee is inserted into an acquisition agreement to prevent the seller from backing out of the deal. If the seller does so, it must pay the breakup fee to the acquirer. A seller might back out of a deal in order to accept a higher offer from another acquirer, or to go public.

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Compliance cost definition

Accounting Tools

Related Courses Cost Accounting Fundamentals Public Company Accounting and Finance What is Compliance Cost? Compliance cost is the total cost incurred by a firm to comply with applicable regulations. These regulations may cover such areas as tax reporting, environmental topics, transport, and finances. Compliance costs can include the cost of the systems needed to collect information for compliance reporting, the cost of the personnel needed to construct and monitor the compliance systems, and t

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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.