Wed.Dec 13, 2023

article thumbnail

FASB issues cryptoasset standard

Accounting Today

The Financial Accounting Standards Board released its long-awaited accounting standards update to improve the accounting for and disclosure of certain cryptoassets.

article thumbnail

Budgeting and Planning for 2024: A Guide for Businesses

Accounting Department

With a new year just around the corner, it's time for organizations to start thinking about their budgets for 2024 - if they haven't already. Effective budgeting and planning are critical to the success of any business. It helps in making smart financial decisions, optimizing resource allocation, and achieving business objectives.

Budgeting 248
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

IRS restructures leadership

Accounting Today

The Internal Revenue Service has reorganized its leadership structure at the top, with a single deputy IRS commissioner instead of two, and four chief executives to lead taxpayer service, compliance, information technology and operations.

Tax 328
article thumbnail

Five tech trends for small businesses in 2024

Xero

In the early 2000s, accessing the internet was through a dial-up connection which could take anywhere from 30 seconds to a couple of minutes to establish a connection. In 2023, generative AI tools can generate poems, short stories and complex legal and medical documents in a matter of seconds. The pace of technological change is accelerating and it’s reshaping just about every aspect of how we live, work, socialise and play.

XERO 248
article thumbnail

Breaking Ground on Better Payment Processes: Strategies for Construction Pros

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.

article thumbnail

IFAC sees need for internal controls for sustainability

Accounting Today

The International Federation of Accountants wants organizations to combine sustainability reporting with their existing internal control and governance frameworks.

article thumbnail

Faces in FinOps Podcast: Episode 15 with Eli Mansoor, Pt. 1

ProsperOps

“Faces in FinOps” is hosted by Jon Myer and powered by ProsperOps. Greetings and welcome to another stellar episode of the Faces In FinOps Podcast, powered by ProsperOps, with your host, Jon Myer. This week we’re excited to have Eli Mansoor , a FinOps evangelist and CEO/Founder of OskaQ Consulting , a business focusing on improving cloud customers’ gross margin by optimizing vendors’ agreements and cloud spend.

FinOps 130

More Trending

article thumbnail

AIOps Explained: Transforming IT with Artificial Intelligence

ProsperOps

AIOps is a convergence of AI and IT operations, helping AWS users grapple with the intricacies of cloud computing. According to McKinsey, 70% of companies will employ hybrid or multicloud management technologies, tools, and processes in the years ahead. Because of this relentless pace of technology development, AWS customers often find themselves managing complex IT problems, and the challenge they face is to keep up without compromising customer service.

article thumbnail

Cybersecurity for CPAs: don't leave the door open

Accounting Today

What good is a door you don't close? What's the point of going through all the trouble of having a secure space if someone can just walk right in?

247
247
article thumbnail

Sage 50 – Features, Use Case, Alternatives, & Limitations

Ace Cloud Hosting

Managing finances and accounting is a crucial aspect of any business, regardless of its size. Sage 50 Accounting software has long been a trusted solution for businesses looking to streamline.

article thumbnail

Organizations should start planning for e-invoicing now

Accounting Today

E-invoicing is a reality that businesses must grapple with — and not only in the EU.

Invoicing 239
article thumbnail

The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

article thumbnail

Manolo Blahnik Pairs with NetSuite

Insightful Accountant

Fashion shoe brand Manolo Blahnik uses NetSuite to enhance supply chain efficiency, consolidate financial processes, and improve visibility into its growing global operations.

105
105
article thumbnail

Can technology address the accounting talent shortage?

Accounting Today

Right now, the accountants at the center of the growing talent crisis are cautiously optimistic on the potential of generative AI.

article thumbnail

6 Benefits of AI Insurance Claims Processing

Nanonets

A survey by Accenture on underwriting employees found that up to 40% of underwriters’ time is spent on non-core and administrative activities. They estimate that this represents an industry-wide efficiency loss of up to $160 billion over the next five years. Integrating AI and automation into the underwriting workflow presents a significant opportunity to minimize the time allocated to administrative tasks, manual processes, and repetitive data entries.

article thumbnail

SEC approves PCAOB budget of $384.7M for 2024

Accounting Today

The Securities and Exchange Commission approved the 2024 budget of the Public Company Accounting Oversight Board, totaling $384.7 million, with an accounting support fee totaling $358.8 million.

Budgeting 204
article thumbnail

2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

article thumbnail

How to Safeguard AP Operations Against Invoice Fraud

Cevinio

How to Safeguard AP Operations Against Invoice Fraud The rapidly growing invoice fraud risk poses a significant threat to businesses. Having the potential to cost hundreds of thousands of dollars in losses, it can decimate business-to-business relationships and cause irreparable damage to an organization’s good reputation. It’s imperative to protect your organization against invoice fraud, also known as AP fraud, as a result.

AP 100
article thumbnail

Airbnb to pay €576M to settle Italian tax claim

Accounting Today

Italy's finance police had claimed that the company failed to pay taxes on about €3.7 billion of rental revenue and claimed that the company owed about €779 million after an audit of the tax years from 2017 to 2021.

Tax 189
article thumbnail

Bill Announced New Features

Insightful Accountant

Today, BILL unveiled new features for its SMB financial automation software, including a redesigned interface, customizable spend limits, consolidated spend controls, and streamlined budget management.

Billing 99
article thumbnail

An Overview Of SaaS Pricing Models

Billing Platform

Currently worth about $3 trillion, McKinsey estimates the software-as-a service (SaaS) market can reach a whopping $10 trillion by 2030. With growth projections at extraordinary levels, getting your pricing strategy right is even more critical. SaaS pricing models rely on your offering’s perceived value, and that means striking the right balance between your offering’s value and its price so you can differentiate your business in this increasingly crowded market.

Billing 95
article thumbnail

From Start to Scale: Driving Growth Through Seamless Payments Implementation

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

article thumbnail

How Pumpkin Planning Saved My Business 

Reconciled Solutions

The Pumpkin Plan teaches business owners to find ideal clients and leverage their time for greater income and freedom. The post How Pumpkin Planning Saved My Business appeared first on Reconciled Solutions.

article thumbnail

Accounting practice definition

Accounting Tools

What is Accounting Practice? Accounting practice is the system of procedures and controls that an accounting department uses to create and record business transactions. Accounting practice should be extremely consistent, since there are a large number of business transactions that must be dealt with in exactly the same manner in order to produce consistently reliable financial statements.

article thumbnail

QuickBooks Desktop Is Dead. Long Live Online!

Cloud Accounting Podcast

Blake and David discuss Intuit's announcement that QuickBooks Desktop will no longer be sold as new subscriptions after July 2024. They also talk about the need for changes in the accounting profession, such as simplifying financial reporting requirements and revising the 150-hour rule. In other news, they cover sanctions against China-based accounting firms, incorrect IRC claims by businesses, and the Adidas-Kanye West fallout.

article thumbnail

Choosing Between Full-Stack, MEAN Stack, or MERN Stack

Invoicera

Struggling to decide which technology stack to use for your project? With numerous options, each carrying its own set of pros and cons, the decision can be overwhelming. How do you know which one is the right fit for your needs? If you aim to save time and money on the right choice, we’ve curated […] The post Choosing Between Full-Stack, MEAN Stack, or MERN Stack appeared first on PixelCrayons.

52
article thumbnail

Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

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

article thumbnail

Benefits of Bundling Bookkeeping and Tax Services

CSI Accounting & Payroll

When small business owners are looking for outsourced accounting solutions, they have a lot of different options. Bundling services is not always an option, but is this something that’s worth seeking out? At CSI Accounting & Payroll, we’ve helped small businesses with their bookkeeping and taxes for over 50 years.

article thumbnail

MyWorks @ QuickBooks Connect 2023

Insightful Accountant

Ecommerce Accounting Integrations Built For Scale Automate your accounting workflows with MyWorks.

article thumbnail

Why?

Future Firm

Most firm owners are not particular about the greater reason for their business. Find out why having a purpose is incredibly important. The post Why? appeared first on Future Firm.

article thumbnail

Will Hill on Making Tax Season Great

Insightful Accountant

Gary DeHart sits down with Will Hill and discuss making your tax season great, and how planning communications and a solid workflow set you, your team and your clients up for a successful tax season. Catch this episode of Accounting Insiders.

Tax 52
article thumbnail

Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

article thumbnail

Cost variance formula definition

Accounting Tools

What is a Cost Variance Formula? A cost variance is the difference between an actual and budgeted expenditure. This variance is most useful as a monitoring tool when a business is attempting to spend in accordance with the amounts stated in its budget. A cost variance can relate to virtually any kind of expense, ranging from elements of the cost of goods sold to selling or administrative expenses.

article thumbnail

Xero's Money Matters Report

Insightful Accountant

Learn how to optimize cash flow management and accelerate payment processes with Xero's 'Money matters' report. Gain valuable insights and practical tips to confidently navigate your business's financial complexities.

XERO 52
article thumbnail

Member Spotlight: Fuel Your Passion for Learning

NACM

It's no exaggeration to say that credit managers are financial "busy bees," always jumping from task to task—whether reviewing credit applications, collaborating with sales to extend credit or making routine customer visits. And the responsibilities continue to grow as advancements in technology and artificial intelligence (AI) increase. To remain.

5