Thu.Feb 22, 2024

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State of FinOps ’24: Top Priorities Shift to Reducing Waste and Managing Commitments

FinOps Foundation

Key Insight: With economic pressure increasing across the world in 2023, many organizations are leaning on their FinOps teams to help prioritize cloud optimizations. Reducing waste and managing commitment-based discounts unseated empowering engineers to take action as the top key priority for the first time. Teams are also investing in their forecasting capabilities to better predict cloud spend, and the cost of running AI/ML is expected to have a big impact on FinOps practices in 2024.

FinOps 331
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Firms grapple with sustainability reporting and assurance

Accounting Today

Most companies are providing some disclosures about their sustainability efforts, but not as many are getting assurance on their numbers from auditing firms.

Auditing 312
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Leveraging Live Forecasts to Drive A Successful Business

Accounting Department

Forecasting in business has long been the compass that guides strategic planning and resource allocation. Traditionally, forecasting relied on historical data to project future trends, a method with inherent lag times and uncertainties. However, as markets become more dynamic and volatile, the value of traditional forecasting is waning. Enter live forecasting—a real-time analytical process that allows businesses to make agile, informed decisions, keeping their finger on the pulse of a rapidly ch

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Ultra-wealthy's corporate jet is latest IRS crackdown

Accounting Today

The agency will begin three to four dozen new audits this spring to see if inappropriate deductions were made.

Auditing 305
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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

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Giving Some Love to the Concierge Accounting Practice

Insightful Accountant

Imagine a scenario in which you could devote more time to actually partnering with your clients to solve their issues and provide them solutions, rather than simply handling their books or processing their tax returns.

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Tax Fraud Blotter: Cheesy

Accounting Today

Repair thyself; this beauty's a steal; oh mama; and other highlights of recent tax cases.

Tax 310

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IRS free tax system moves into public test phase

Accounting Today

The Internal Revenue Service's Direct File pilot program has expanded beyond internal testing of its free tax prep system to taxpayers in a dozen states.

Tax 211
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How AI is Transforming and Disrupting Audit

Earmark Accounting Podcast

Rob Valdez joins Blake to discuss how artificial intelligence and generative chatbots like ChatGPT could automate routine audit tasks. They also explore the potential to train staff more effectively, save significant time on substantive testing, draft higher quality work, and some challenges around adopting these tools, such as security fears, poor system integration, and partners resistant to change.

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Using the Backsolve Method for stock-based compensation

Accounting Today

If you audit or manage a startup company or other privately held business, don't overlook the treatment of stock-based compensation.

Auditing 145
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Business Growing Too Fast? 3 Problems You Might Not Expect

CSI Accounting & Payroll

When small businesses grow, they face a much larger strain than larger businesses do. Rapid growth – growth that significantly exceeds the market average for your industry or revenue that increases by at least 20 percent year over year – is even more difficult to handle. As the owner of a rapidly growing small business, you have to adjust to the changes quickly, otherwise, you can regress to worse than how you started – or close your doors entirely due to unhappy customers.

Payroll 52
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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

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

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10 Essential Accounting Terms Every Small Business Owner Should Know

Counto

10 Essential Accounting Terms Every Small Business Owner Should Know As a small business owner, understanding basic accounting terms is crucial for managing your finances effectively. Whether you’re handling your own bookkeeping or working with an accountant, knowing these terms will help you make informed decisions about your business’s financial health.

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9 Accounting Firm Websites to Inspire Your Site Redesign

Jetpack Workflow

Your accounting firm’s website is like a virtual salesperson. It presents prospective clients with their first impression of your firm and lets them get to know you before ever speaking with you. That makes your website a highly valuable asset for winning more clients. If building or updating your site has been on the back burner until now, it may be time to see it with fresh eyes and upgrade its design.

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Deciding on a Financial Year End (FYE) for Singapore Businesses

Counto

Deciding on a Financial Year End (FYE) for Singapore Businesses Choosing the right Financial Year End (FYE) is a pivotal step for businesses in Singapore, influencing tax planning, compliance, and financial strategy. In this guide, we’ll explore the intricacies of FYE selection, empowering SMEs and entrepreneurs with actionable insights to navigate this crucial decision effectively.

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The 5 Apps You Need In Your Accounting Firm

Blake Oliver

As a firm owner, I know first-hand the challenges of leveraging technology to enhance efficiency. With new apps constantly emerging, it's tough to identify the essential ones that will boost productivity. That's why I'll be hosting a 1-hour webinar revealing the top 5 apps accounting practices simply cannot afford to miss today. Register here to reserve your place in this info-packed session.

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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.

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Accounting Basics Every Startup Should Know

Counto

Accounting Basics Every Startup Should Know Launching a business is thrilling, yet demands crucial financial decision making. Mastering accounting basics is vital for steering your startup towards success. Let’s dive into the essentials together! What is Accounting? At its core, accounting is the systematic process of recording, classifying, and summarising financial transactions.

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The Biggest Check You Can Write to The IRS

Blake Oliver

Did you know there's a limit to the size of checks you can write to the IRS? It's $99,999,999.99. We discuss this little-known fact and other fascinating stories from the intersection of accounting, technology, and pop culture on Episode 372 of The Accounting Podcast.

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Streamlining Payments in Sage Intacct: A Guide

MineralTree

Small and mid-sized businesses (SMBs) are the bedrock of the global economy — responsible for the majority of jobs, products, and services worldwide. However, many SMBs still rely on a patchwork of manual processes to manage their finances, operations, and people, resulting in higher costs and greater inefficiencies. As SMBs modernize back-office functions and transform financial operations, many rely on Sage Intacct to help manage and streamline processes.

AP 52
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How to draft an AI policy for your accounting firm

Blake Oliver

I'm excited to share my latest article on the Firm of the Future blog: How to Draft an AI Policy for Your Accounting Firm. In this piece, I explore generative AI's responsible and ethical integration into accounting practices. As these powerful tools become more prevalent, firms must establish appropriate guardrails. As a wise man once said, "With great power comes great responsibility!

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Top 17+ Cloud Cost Management & FinOps Tools in 2024

Economize

Businesses operating in the cloud have to constantly battle between two decisions: Maintaining profitability, or constantly innovating their offerings to stay competitive. An impressive 82% of North American organizations pinpoint cloud spending as their chief obstacle, a scenario compounded by projections that global spending on public cloud services will soar to $591.

FinOps 52
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VyaPay - Payments for a New Age

Insightful Accountant

VyaPay offer fully-embedded and on-demand payment solutions that are easy to implement and capable of handling your future demands.

52
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Challenges of Vendor Management

oAppsNet

Vendor management is a critical aspect of business operations, encompassing the processes and activities involved in sourcing, contracting, procuring, and managing relationships with suppliers and vendors. While effective vendor management is essential for ensuring supply chain resilience, cost efficiency, and quality control, organizations often encounter various challenges.