IRS crypto enforcement could get tougher
Accounting Today
JULY 15, 2024
The Internal Revenue Service could be doing a better job of cracking down on tax noncompliance by users of virtual currency or digital assets, according to a new report.
Accounting Today
JULY 15, 2024
The Internal Revenue Service could be doing a better job of cracking down on tax noncompliance by users of virtual currency or digital assets, according to a new report.
Xero
JULY 15, 2024
The tax-time crunch is wrapping up, meaning the new financial year is here. And whether you’re looking to avoid the same end- of-financial-year stress next year, or streamline your operations – every small business can benefit from starting the new financial year with the right apps in their app stack. What’s an app stack? An app stack is another name for the set of apps that you use to run your business.
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Accounting Today
JULY 15, 2024
The IRS warned about bad advice that's being peddled on social media promoting a bogus "Self Employment Tax Credit" and prompting unsuspecting taxpayers to file false claims for the credit.
Enterprise Recovery
JULY 15, 2024
Retention marketing is the practice of implementing strategies and techniques to keep existing clients engaged and loyal to your business. While acquiring new customers is important, retaining existing ones is more valuable for the long-term success of your business. By focusing on client retention, you can build strong relationships, increase customer satisfaction, and ultimately drive revenue growth.
Speaker: Genevieve Hancock, CPA
Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?
Accounting Today
JULY 15, 2024
CliftonLarsonAllen CEO Jen Leary has been focusing on expanding the firm's appeal, especially to young accountants, as CLA grows its international network.
Nolan Accounting Center
JULY 15, 2024
As a small business owner, you should want to improve your business operations. Indeed, every business owner should recognize that improving operating efficiency must be an ongoing endeavor. As American editor and publisher Clarence W. Barron stated, “Everything can be improved.” More pointedly, Japanese consultant Masaaki Imai said, “Not a day should go by without some kind of improvement made somewhere in the company.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Accounting Tools
JULY 15, 2024
What is Goods in Transit? Goods in transit refers to merchandise and other types of inventory that have left the shipping dock of the seller, but not yet reached the receiving dock of the buyer. The concept is used to indicate whether the buyer or seller of goods has taken possession, and who is paying for transport. Ideally, either the seller or the buyer should record goods in transit in its accounting records.
Accounting Today
JULY 15, 2024
Wolters Kluwer announced CCH Tagetik Tax Provision & Reporting, a solution offering data collection and group tax provision calculations for multinationals.
Accounting Tools
JULY 15, 2024
What are Taxation Principles? Taxation principles are the guidelines that a governing entity should use when devising a system of taxation. These principles include the following items: Broad application. The system of taxation should be spread across a broadest possible population, so that no one person or entity is taxed excessively. Instead, the entire population shares in the taxation burden.
Accounting Today
JULY 15, 2024
OneStream Inc. and a group of shareholders including KKR & Co. are seeking to raise $465.5 million in a U.S. initial public offering.
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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.
Accounting Tools
JULY 15, 2024
What is Profit Planning? Profit planning is the set of actions taken to achieve a targeted profit level. These actions involve the development of an interlocking set of budgets that roll up into a master budget. The management team adjusts the information in this set of budgets to arrive at the combination of actions needed to arrive at the targeted profit level.
Accounting Today
JULY 15, 2024
Test your accounting knowledge on AI layoffs, the IRS Direct File program, and more. No. 2 pencil not required!
Accounting Tools
JULY 15, 2024
What is the Provision for Doubtful Debts? The provision for doubtful debts is the estimated amount of bad debt that will arise from accounts receivable that have been issued but not yet collected. It is identical to the allowance for doubtful accounts. The provision is used under accrual basis accounting , so that an expense is recognized for probable bad debts as soon as invoices are issued to customers , rather than waiting several months to find out exactly which invoices turned out to be unc
Accounting Today
JULY 15, 2024
The combination of variable prepaid forwards with long and short equity positions outpaces the after-tax returns of a direct indexing strategy, a new study found.
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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.
Accounting Tools
JULY 15, 2024
What are the Basics of Cost Accounting? Cost accounting is the art of translating the costs incurred by a business into actionable analyses that can improve operations and profits. Here are several basic ways in which to use cost accounting: Activity-based costing. This is a methodology for more precisely allocating overhead costs to products and services.
Insightful Accountant
JULY 15, 2024
If you missed our recent App Academy webinar, Intuit shared how to leverage ProConnect Tax solutions to streamline the workflow across Books-Income Tax-Advisory to enable you to automate compliance tasks.
finout
JULY 15, 2024
As organizations increasingly shift to cloud computing, managing cloud costs emerges as a primary concern. The flexibility and scalability of platforms like Amazon Web Services (AWS) bring significant benefits but also introduce tremendous complexity in tracking and controlling expenses. The dynamic nature of cloud billing, with its myriad of services and pricing options, often leads to unexpected costs, making it challenging for organizations to stay within budget.
Insightful Accountant
JULY 15, 2024
Why wait? Now is a perfect time to join the many ProAdvisors who have already started the 2025 ProAdvisor Awards process by nominating a fellow ProAdvisor, being nominated by a colleague or client, or applying.
Speaker: Michael Mansard and Katherine Shealy
Generative AI is no longer just an exciting technological advancement––it’s a seismic shift in the SaaS landscape. Companies today are grappling with how to not only integrate AI into their products but how to do so in a way that makes financial sense. With the cost of developing AI capabilities growing, finding a flexible monetization strategy has become mission critical.
Accounting Tools
JULY 15, 2024
What is a Step Fixed Cost? A step fixed cost is a cost that does not change within certain high and low thresholds of activity, but which will change when these thresholds are breached. When the cost changes as a result of a threshold breach, a new set of high and low activity thresholds will then apply, within which the fixed cost will not change appreciably.
Insightful Accountant
JULY 15, 2024
Janel Sykora, Kellie Parks and Christine Gervais kick of Insightful Accountant's Be Insightful membership program with CPE Webinars, Q&A sessions and actionable steps to grow your firm.
Accounting Tools
JULY 15, 2024
What is the Bank Reconciliation Process? The bank reconciliation process involves comparing the internal and bank records for a bank account , and adjusting the internal records as necessary to bring the two into alignment. This is done to ensure that an organization’s recorded cash balance is accurate. The bank reconciliation process is usually accomplished with the bank reconciliation module in an accounting software package.
Billing Platform
JULY 15, 2024
Also referred to as yield management, revenue management can be described in extremely simplistic terms ( selling the right product, to the right customer, at the right price, through the right channel ) or defined in a more complex manner. Brought mainstream by industries like hospitality and airlines, revenue management is a discipline that combines data mining, analytics, and operations research to understand customer behavior.
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Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.
Accounting Tools
JULY 15, 2024
What is the Unit of Production Method? The unit of production method is a technique for charging capitalized costs to expense in the oil and gas industry, using the ratio of produced units to reserves. This is done by estimating the total number of units of proved oil or gas reserves and dividing actual production in the period by the beginning proved reserves to derive the amortization rate.
Billing Platform
JULY 15, 2024
Also referred to as yield management, revenue management can be described in extremely simplistic terms ( selling the right product, to the right customer, at the right price, through the right channel ) or defined in a more complex manner. Brought mainstream by industries like hospitality and airlines, revenue management is a discipline that combines data mining, analytics, and operations research to understand customer behavior.
Accounting Tools
JULY 15, 2024
What is Wealth Maximization? Wealth maximization is the concept of increasing the value of a business in order to increase the value of the shares held by its stockholders. The concept requires a company's management team to continually search for the highest possible returns on funds invested in the business, while mitigating any associated risk of loss.
Accounting Tools
JULY 15, 2024
What is the Equity Method? The equity method of accounting is used to account for an organization’s investment in another entity (the investee). This method is only used when the investor has significant influence over the investee. Under this method, the investor recognizes its share of the profits and losses of the investee in the periods when these profits and losses are also reflected in the accounts of the investee.
Speaker: Chandra McCormack, CPA, MBA, NACD.DC
Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.
Accounting Tools
JULY 15, 2024
What is the Contribution Margin Ratio? The contribution margin ratio is the difference between a company's sales and variable expenses , expressed as a percentage. The total margin generated by an entity represents the total earnings available to pay for fixed expenses and generate a profit. When used on an individual unit sale, the ratio expresses the proportion of profit generated on that specific sale.
Accounting Tools
JULY 15, 2024
What is the Implicit Interest Rate? An implicit interest rate is an interest rate that is not specifically stated in a business transaction. Any accounting transaction that involves a stream of payments extending over multiple future periods must incorporate an interest rate, even if there is no rate stated in the related business contract. Otherwise, the contract does not reflect the expense associated with delaying payments over a period of time, which is known as interest expense.
Accounting Tools
JULY 15, 2024
What are Asset Recognition Criteria? Asset recognition criteria are needed to determine which assets will be included in the balance sheet. When an expenditure is made, it can either be recognized as an expense or an asset , with recognition as an expense being the default presumption. Most expenditures will be recognized at once as expenses, since they reflect the immediate consumption of the underlying expenditure.
Accounting Tools
JULY 15, 2024
What is the Doomsday Ratio? The doomsday ratio is the most conservative measure of the ability of a business to pay its short-term obligations. The name is derived from the assumption that, if a business were on the verge of bankruptcy , could it still pay its bills right now? The ratio is not actually used for that purpose, but rather to determine the adequacy of the amount of cash on hand.
Speaker: Joe Sharpe and James Carlson
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
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