Fri.Jul 12, 2024

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FASB completes conceptual framework

Accounting Today

The Financial Accounting Standards Board released a new chapter of its Conceptual Framework on the measurement of items recognized in financial statements, while also drawing that project to a close.

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5 Reasons Your Business Needs a QuickBooks ProAdvisor

Ace Cloud Hosting

Navigating through QuickBooks and its extensive capabilities can be overwhelming, particularly for those without an accounting background. This is where a QuickBooks ProAdvisor comes in! A QuickBooks ProAdvisor is an.

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Tech news: CBIZ rolls out "D@ta NEXUS" suite

Accounting Today

Plus, Biller Genie launches QuickBooks Desktop integration, PayPal integration; and other accounting technology news.

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Capital expenditure budget definition

Accounting Tools

What is the Capital Expenditure Budget? A capital expenditure budget is a formal plan that states the amounts and timing of fixed asset purchases by an organization. This budget is part of the annual budget used by a firm, which is intended to organize activities for the upcoming year. Capital expenditures can involve a wide array of expenditures , including upgrades to existing assets, the construction of new facilities, and equipment required for new hires.

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How to Select the Perfect Payments Partner: 7 Keys for Sustainable Growth

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

Join Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms for an informational webinar about how to select the ideal payments provider for your platform! This session highlights the 7 key criteria for assessing payments partners and maximizing the value of your investment. From evaluating technology and business development programs to understanding support and compliance, this webinar will equip you with a comprehensive evaluation framework and strategy for

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On the move: MACPA hosts High School Leadership Academy

Accounting Today

Grant Thornton names three regional leaders; Schneider Downs establishes new subsidiary; and more news from across the profession.

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Cost of labor definition

Accounting Tools

What is the Cost of Labor? The cost of labor is the salaries and wages paid to employees , plus related payroll taxes and benefits. The term may also relate to a specific time period or a job (if the employer is using a job costing system to track costs). The cost of labor may be subdivided into the cost of labor related to the production of goods (known as the cost of direct labor ) and the cost of labor related to all other activities (known as the cost of indirect labor ).

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Derivative accounting

Accounting Tools

What is the Accounting for Derivatives? A derivative is a financial instrument whose value changes in relation to changes in a variable, such as an interest rate , commodity price, credit rating , or foreign exchange rate. There are two key concepts in the accounting for derivatives. The first is that ongoing changes in the fair value of derivatives not used in hedging arrangements are generally recognized in earnings at once.

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Why AI will kill accounting generalists

Accounting Today

Both accounting firms and the businesses they serve will grab onto the automation wave or die.

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The purpose of the balance sheet

Accounting Tools

What is a Balance Sheet? A balance sheet lays out the ending balances in a company's asset , liability , and equity accounts as of the date stated on the report. As such, it provides a picture of what a business owns and owes, as well as how much as been invested in it. The balance sheet is commonly used for a great deal of financial analysis of a business' performance.

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Jetpack Workflow Product Updates (For June 2024)

Jetpack Workflow

Each month we will be sharing a quick product update on Jetpack Workflow. What you’ll find in this content can be things like product improvements, new feature releases, what is on the upcoming roadmap, and anything else that is relevant to your accounting workflow success. We often get busy behind the scenes of the product that we don’t get to share publicly about all the cool things our team is working on.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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Manufacturing cycle time definition

Accounting Tools

What is Manufacturing Cycle Time? Manufacturing cycle time is the interval needed to convert raw materials into finished goods. A detailed analysis of this time period can result in a significant reduction in the amount of time needed to convert a customer order into a finished product, which can represent a significant competitive advantage. Manufacturing cycle time is comprised of the following four types of elapsed time: Process Time Process time is the time required to actually work on the c

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Amazon Glacier Pricing: Understanding your S3 Glacier Costs

Economize

Importance of understanding S3 Glacier costs For companies looking to fine-tune their operations and secure a strategic advantage, understanding Amazon Glacier pricing is indispensable. Knowing what you’re likely to spend on data storage helps tremendously with budgeting and making sure resources are used wisely.

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Satisfy Customers and Suppliers with Improved Accounts Payable Software

NextProcess

Your accounts payable (AP) department deals with a large number of internal and external customers. Within the company, AP works with purchasing and receiving to authenticate invoices and make payments. They also play a huge role in managing cash flow and can play a strategic role by supplying data and advice to other departments and the CFO. AP also works with groups outside the company.

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Unveiling the Potential of Client Advisory Services in Agriculture

Insightful Accountant

For accounting firms to expand their services into Client Advisory Services (CAS) specifically tailored for the agricultural sector. Traditionally, accounting services have focused on tax and compliance, but CAS offers a path to exponential growth.

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Unlock The Power Of The CFO Toolkit

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

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Why accountants' friends don't understand them

Accounting Fun

The colour scheme on your spreadsheet is actually important It's infuriating when a balance sheet doesn't balance They believe tax season only lasts a week No one wants to know when your cash flow shows no flow Everyone thinks you can help them pay less tax They only call when they want tax advice New versions of Excel are really exciting "Variance analysis" sounds like a psychological condition Everything in life can be reduced to debits and credits They think "fiscal year" is just a typo for "

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Sales cycle stages definition

Accounting Tools

What are the Sales Cycle Stages? The sales cycle stages are the steps required to close a sale with a customer. The duration of the sales cycle, as well as the success rate at each stage of it, is closely watched to see if a sales department is effectively using its time to close deals. The stages in the sales cycle are noted below. Step 1. Understand the Product A salesperson must not only understand the features of a product, but also how it relates to a customer.

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Form Data Extraction: From OCR to Deep Learning

Nanonets

In today's data-driven world, forms are everywhere, and form data extraction has become crucial. These documents collect information efficiently but often require manual processing. That's where intelligent document processing (IDP) comes in. IDP leverages OCR, AI, and ML to automate form processing, making data extraction faster and more accurate than traditional methods.

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Book-to-bill ratio

Accounting Tools

What is the Book-to-Bill Ratio? The book-to-bill ratio compares the amount of new orders obtained to the amount of goods and services billed in a measurement period. When this ratio is expanding (the ratio is greater than 1), it indicates that an organization is able to replace its order backlog with new orders. Conversely, when this ratio is declining (the ratio is less than 1), it is a strong indicator of impending trouble, since a business is now facing the prospect of eventually having no ba

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Pricing for Profit: How to Set, Negotiate, and Succeed

Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

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Sensitivity analysis definition

Accounting Tools

What is Sensitivity Analysis? Sensitivity analysis is the use of multiple what-if scenarios to model a range of possible outcomes. The technique is used to evaluate alternative business decisions, employing different assumptions about variables. A particularly useful aspect of sensitivity analysis is to locate those variables that can have an unusually large impact on the outcome of the analysis.

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Governmental accounting

Accounting Tools

What is Governmental Accounting? Governmental accounting maintains tight control over resources, while also compartmentalizing activities into different funds in order to clarify how resources are being directed at various programs. This approach to accounting is used by all types of government entities, including federal, state, county, municipal, and special-purpose entities.