Accounting Today

JULY 23, 2024

Individuals and businesses in the affected counties now have until next Feb. 3 to file various federal individual and business tax returns and make tax payments.

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Tax 321

Accounting Department

JULY 23, 2024

In today's competitive business landscape, staying ahead of the competition requires more than just a great product or service. Entrepreneurs, small business owners, and financial analysts must focus on tracking key financial metrics to ensure their company's growth and financial health.

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Accounting Today

JULY 23, 2024

Preliminary results of a recent survey suggest that the location — and sources — of dissatisfaction in accounting firms may be surprising.

Accounting 305

Accounting Accounting 305

Xero

JULY 23, 2024

This guest blog was written by the team at GoCardless. Running a small business can mean moving between being a general manager to a customer services contact, marketing lead and, in some cases, debt collector. Without the proper processes in place, managing payments can take up too much time and even result in bigger problems. In fact, the Office of National Statistics shared that poor cash flow is responsible for up to 90% of new businesses failing.

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XERO Invoicing Collections Reconciling 174

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Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

Accounting Today

JULY 23, 2024

Going concern opinions have slowly decreased over the last two decades, with the exception of spikes during the 2008 financial crisis and the years of the COVID-19 pandemic.

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Auditing Accounting Accounting 235

Compleatable

JULY 23, 2024

Watch: Automate Purchasing & Invoice Matching Seamlessly into MIP Fill in the form to access the video recording of our Compleat for Non-Profits webinar looking specifically at our API integration with MIP Fund Accounting. Name Work Email Address Job Title Watch the video Automate Purchasing & Invoice Matching Seamlessly into MIP The post Automate Purchasing & Invoice Matching Seamlessly into MIP first appeared on Compleat Software.

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Invoicing Accounting Accounting 130

Accounting Tools

JULY 23, 2024

What are Comparative Financial Statements? Comparative financial statements are the complete set of financial statements that an entity issues, revealing information for more than one reporting period. The financial statements that may be included in this package are as follows: The income statement (showing results for multiple periods) The balance sheet (showing the financial position of the entity as of more than one balance sheet date) The statement of cash flows (showing the cash flows for

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Financial Statements Accounting Accounting 98

Accounting Today

JULY 23, 2024

The landscape of talent acquisition is rapidly shifting due to intense competition for top talent and the rise of the gig economy.

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Accounting Accounting 150

Accounting Tools

JULY 23, 2024

What is a Self-Constructed Asset? A self-constructed asset is one that a business elects to build under its own management. A common example of a self-constructed asset is when a company chooses to build an entire facility. Or, the management team might elect to design its own production equipment, usually because its products are so unique that there are no standardized machines on the market that can manufacture them.

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Accounting Accounting Accounts Payable Accounts Payable 76

Accounting Today

JULY 23, 2024

AitM; IRS strategies after Chevron; the taxman's jackpot; and other highlights from our favorite tax bloggers.

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Tax 140

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

Collections

Accounting Tools

JULY 23, 2024

A fixed asset is written off when it is determined that there is no further use for the asset, or if the asset is sold off or otherwise disposed of. A write off involves removing all traces of the fixed asset from the balance sheet , so that the related fixed asset account and accumulated depreciation account are reduced. There are two scenarios under which a fixed asset may be written off.

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Auditing Accounting Accounting 75

Billing Platform

JULY 23, 2024

TechTarget defines consumption-based pricing – also referred to as pay-as-you-go billing, metered billing or usage-based pricing – as a service provision and payment scheme in which customers pay according to the resources they use. Historically, this pricing model was the choice for utility companies. However, since its pioneering days by companies like Amazon Web Services (AWS) and Azure, this pricing scheme gained popularity and become commonplace among cloud computing, SaaS, PaaS, and IaaS c

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Billing Invoicing Computation Collections 68

Accounting Tools

JULY 23, 2024

What are Market Value Ratios? Market value ratios are used to evaluate the current share price of a publicly-held company's stock. These ratios are employed by current and potential investors to determine whether a company's shares are over-priced or under-priced. The most common market value ratios are noted below. Book Value Per Share The book value per share is calculated as the aggregate amount of stockholders' equity , divided by the number of shares outstanding.

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Financial Statements Tax 75

Billing Platform

JULY 23, 2024

TechTarget defines consumption-based pricing – also referred to as pay-as-you-go billing, metered billing or usage-based pricing – as a service provision and payment scheme in which customers pay according to the resources they use. Historically, this pricing model was the choice for utility companies. However, since its pioneering days by companies like Amazon Web Services (AWS) and Azure, this pricing scheme gained popularity and become commonplace among cloud computing, SaaS, PaaS, and IaaS c

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Billing Invoicing Computation Collections 63

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

Accounts Payable

Accounting Tools

JULY 23, 2024

What is an Inventory Cutoff? An inventory cutoff is a procedure that is designed to ensure that all inventory transactions associated with a reporting period are actually recorded within that period. Without careful attention to this procedure, it is quite likely that some transactions will be recorded in the wrong period, resulting in an incorrect cost of goods sold figure for the targeted reporting period.

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Data Entry Auditing Accounting Accounting 75

LedgerDocs

JULY 23, 2024

Creating a system for document management is a great way to improve the accuracy and efficiency of your bookkeeping process, but there are a few common mistakes that can be made when setting up your system that can prevent you from experiencing the positive improvements. 1. Not Standardizing Document Naming Conventions The first and most common pitfall is using inconsistent naming conventions.

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Bookkeeping 59

Tipalti

JULY 23, 2024

Whether you’re part of a purchasing team, a procurement department, or an employee making a purchase, odds are you’re following some kind of outlined requisition process. There’s no one correct way to initiate a requisition process, but having a working process in place is essential to making smooth, and smart, purchases in most companies.

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Nanonets

JULY 23, 2024

Snapping or clicking an image is the easiest way to capture text from paper documents conveniently in your phone or computer. Imagine having a bunch of handwritten notes that you need to organize for a project, or a bunch of receipts that you want to digitize to better track your expenses. While storing text as an image is convenient, you can't readily modify, copy or edit the text in an image.

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Computation Data Entry Invoicing 52

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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.

Accounting

Insightful Accountant

JULY 23, 2024

The Internal Revenue Service and the Security Summit partners today urged tax professionals to learn the signs of data theft so they can respond quickly to protect their business and their clients.

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Tax 52

oAppsNet

JULY 23, 2024

Monitoring greenhouse gas (GHG) emissions is essential to comprehending and reducing the environmental damage caused by human activity. As concerns about climate change intensify, businesses, governments, and organizations worldwide focus on quantifying their carbon footprints. Accurate measurement of GHG emissions enables entities to identify significant sources of emissions, develop strategies to reduce them and comply with global standards and regulations.

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Collections Record Keeping Accounting Accounting 52

Insightful Accountant

JULY 23, 2024

Murph shares how you can be a 'code-breaker' in the 2025 U.S. ProAdvisor Awards and potentially score more points by ensuring you get ranked in every applicable category for your practice.

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Accounting Tools

JULY 23, 2024

What are the Objectives of Financial Reporting? The objectives of financial reporting cover three areas, dealing with useful information, cash flows, and liabilities. The objectives are noted below. Objective #1: Provide Useful Information The first objective is to provide useful information to the users of financial reports. The information should be useful from a number of perspectives, such as whether to provide credit to a customer , whether to lend to a borrower , and whether to invest in a

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Financial Reporting Financial Statements Bookkeeping Financial Accounting 52

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.

Payroll

AvidXchange

JULY 23, 2024

In today’s fast-paced business environment, efficient financial management is crucial for success. Enter AI billing, a game-changer for invoicing and accounts receivable (AR). By leveraging artificial intelligence (AI) for billing, companies can streamline their accounting processes, cut costs, improve security, and enhance overall accuracy. Read on to learn more about AI billing, including related benefits and challenges.

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Accounts Receivable Accounts Receivable Account Receivables Billing 52

Counto

JULY 23, 2024

Shareholders’ Agreements: Essential Protection for Singapore Small Businesses As a Singapore small business owner, have you considered the crucial role of a shareholders’ agreement? At Counto, our company secretary service often finds this vital document overlooked. Yet, it’s key to protecting your business and fostering shareholder harmony.

Tax 52

Tax 52

AvidXchange

JULY 23, 2024

With the advent of artificial intelligence (AI), procurement processes are poised to experience a significant transformation. AI in procurement leverages technologies like machine learning and predictive analytics to enhance decision-making, streamline operations, and reduce costs. Procurement plays a crucial role in supply chain management, helping organizations source the right products at the best prices.

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Purchase Order Invoicing Invoice Processing Computation 52

Accounting Tools

JULY 23, 2024

What is Accounting Theory in Financial Reporting? Accounting theory is the cluster of accounting frameworks and historical practices that is used to apply principles of financial reporting. The bulk of accounting theory is based on the applicable accounting framework, such as Generally Accepted Accounting Principles or International Financial Reporting Standards.

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Accounting Accounting Financial Reporting Financial Statements 40

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

JULY 23, 2024

What is Current Value Accounting? Current value accounting is the concept that assets and liabilities be measured at the current value at which they could be sold or settled as of the current date. This varies from the historically-used method of only recording assets and liabilities at the amounts at which they were originally acquired or incurred (which represents a more conservative viewpoint).

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Accounting Tools

JULY 23, 2024

What is Material Costing? Material costing is the process of determining the costs at which inventory items are recorded into stock, as well as their subsequent valuation in the accounting records. We deal with these concepts separately. Material Costing for Initial Inventory Acquisition A company must decide whether it will record acquired materials at their purchased prices, or if additional costs will be added, such as freight in , sales taxes , and customs duties.

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Financial Reporting Auditing Cost Accounting Accounting 40

Accounting Tools

JULY 23, 2024

What is a Cost Object? A cost object is any item for which costs are being separately measured. It is a key concept used in managing the costs of a business. Several types of cost objects are noted below. Output-Related Cost Objects The most common cost objects are a company's products and services, since it wants to know the cost of its output for profitability analysis and price setting.

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Customer Service Cost Accounting Accounting Accounting 40

Accounting Tools

JULY 23, 2024

How to Process Cash Receipts The process of receiving cash is highly regimented, because the task of processing checks is loaded with controls. They are needed to ensure that checks are recorded correctly, deposited promptly, and not stolen or altered anywhere in the process. The procedure for check receipts processing is outlined below. Step 1. Record Checks and Cash When the daily mail delivery arrives, record all received checks and cash on the mailroom check receipts list.

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Deposits Petty cash Reconciling Invoicing 40

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.

CPA