Mon.May 06, 2024

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Making the (use) case for AI

Accounting Today

Accounting firms that have embraced artificial intelligence are primarily using it to analyze documents, automate tasks and bolster client communication.

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Greg Johnson returns to Intuit as EVP, Chief Commercial Officer and Global Small Business Self Employed Group Chief Revenue Officer

Intuit

Greg Johnson, has returned to Intuit as EVP, Intuit Chief Commercial Officer and Global Small Business Self Employed Group Chief Revenue Officer. In his Chief Commercial Officer role, Greg will partner across Intuit brands to accelerate Intuit’s commercial growth strategy. This will include customer-back segmentation, product lineup, pricing, and go-to-market activities, as well as brand, marketing and communications for the company.

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AI's critical role in enhancing cybersecurity

Accounting Today

Among the concerns of using AI in accounting are the potential risks to the security and privacy of data.

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Will AI Replace Accountants? (Find The Answer)

Ace Cloud Hosting

Will AI replace accountants in near future? It’s a question on many minds. The world is evolving fast, especially with technology. As someone in accounting, you’re probably curious about what.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Accountants share how they're using AI

Accounting Today

What exactly are accountants doing with artificial intelligence? Turns out, a lot.

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Navigating Debt Collection Challenges in the Tech Industry

Enterprise Recovery: Accounts Receivable

The tech industry is known for its rapid growth and innovation but faces unique challenges regarding debt collection and non-paying clients. Understanding the intricacies of debt collection in this sector is essential for companies to recover payments and maintain financial stability. Learn more about the complexities of debt collection within the tech industry and the strategies for successful payment recovery.

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AI's 'Killer Function': Personal Agents That Work for You

Blake Oliver

Sam Altman says that helpful agents will be AI's "killer function," integrating deeply into our lives and acting as extensions of ourselves. It sounds like science fiction, but you can start doing this now!

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PCAOB warns about auditing commercial real estate

Accounting Today

The Public Company Accounting Oversight Board released a report highlighting special auditing considerations in the commercial real estate market, at a time when many office buildings have lost tenants due to remote work and empty space has grown.

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Monday Minute | QB Live Expert Assisted Bookkeeping: The Why

Insightful Accountant

Intuit has recently announced a new service called QB Live Expert Assisted Bookkeeping. However, this move has understandably sparked mixed reactions within the accounting community. Read more about it!

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IRS needs to do more on 'Lifting Communities Up'

Accounting Today

The Internal Revenue Service is falling short on its initiative to expand jobs, services, and assistance to taxpayers in underserved populations in the Mississippi Delta, according to a new report.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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A Complete Guide to BlackLine Account Reconciliation

Nanonets

Spreadsheets like Excel have long been a staple for account reconciliation , but their limitations are becoming increasingly evident. Issues such as version control, formula errors, and manual data entry pose significant risks to accuracy and efficiency. According to the ACCA, over 90% of spreadsheets have significant errors , despite over 90% of spreadsheet users being confident in the accuracy of their spreadsheets.

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Buffett says US corporate taxes likely to rise to tame deficit

Accounting Today

U.S. taxes are likely to rise as lawmakers look to narrow the federal deficit, Warren Buffett said, as Washington prepares for major tax negotiations next year.

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What Is General Ledger Reconciliation?

Nanonets

General Ledger Reconciliation The General Ledger (GL) is a silent custodian of a company's financial narrative. It is a record of all financial transactions of an enterprise and provides a comprehensive account of the organization's monetary activities. However, the GL is not the sole repository of financial data. Businesses maintain a multitude of other financial documents, including bank statements, invoices , bills, cash payment receipts, and more.

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Massachusetts eyes mansion tax to fund affordable housing

Accounting Today

Governor Maura Healey's $4 billion housing bond bill, the state's biggest-ever investment in its residential stock, includes a provision allowing cities to impose a transfer fee of 0.5% to 2% on property sales exceeding $1 million.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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BONUS | Embracing AI: Insights for International Management Accounting Day

IMA's Count Me

Celebrate International Management Accounting Day with a special episode of the Count Me In Podcast, featuring an enlightening discussion between two esteemed guests: Travis Willard , Senior Vice President of Product and Innovation at IMA, and Susie Duong , Director of Research at IMA, bringing unique perspectives on the integration of AI into accounting and finance.

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How a 'tax overlay manager' can outsource tasks and boost returns

Accounting Today

As one of many providers of the existing and expanding capabilities, Envestnet is urging more financial advisors to consider after-tax optimization.

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ABC analysis definition

Accounting Tools

What is ABC Analysis? ABC analysis is used to categorize items into three classifications, based on activity levels. The concept is most commonly applied to inventory , where the "A" classification identifies high-usage items, the "B" classification identifies medium-usage items, and the "C" classification identifies low-usage items. This breakdown can then be used to exercise high levels of monitoring over "A" classification inventory, and the least monitoring over "C" classification inventory.

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M&A roundup: Marcum, Ascend and RKL expand

Accounting Today

Marcum acquired Croskey Lanni; Ascend added Blackman & Sloop and TSS; and RKL eSolutions bought Techware.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Derivative instruments definition

Accounting Tools

What are Derivative Instruments? A derivative is a financial instrument that has the following characteristics: It is a financial instrument or a contract that requires either a small or no initial investment; There is at least one notional amount (the face value of a financial instrument, which is used to make calculations based on that amount) or payment provision; It can be settled net, which is a payment that reflects the net difference between the ending positions of the two parties; and It

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2024’s Leading Contractor Invoicing Software: Streamlining Construction Billing

Invoicera

Introduction Ever spent hours buried in spreadsheets, manually creating invoices and chasing down payments? You’re not alone. A recent study found that 60% of contractors spend more than 5 hours per month on manual invoicing tasks. ‍ That’s valuable time that could be better spent focusing on what you do best: building and delivering exceptional projects.

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Program evaluation and review technique (PERT)

Accounting Tools

What is the Program Evaluation and Review Technique? The program evaluation and review technique (PERT) is used to manage a project. It identifies every task associated with a project, the time required to complete each one, and the dependencies between tasks. The result is a network diagram, known as a PERT chart, that clarifies where the critical path is located in a project.

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Trump Media's accounting firm accused of fraud, fined $14M

Accounting Today

BF Borgers CPA PC and its founder, Benjamin Borgers, will be permanently suspended from practicing and appearing as accountants before the SEC.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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Operating cash flow ratio definition

Accounting Tools

What is the Operating Cash Flow Ratio? The operating cash flow ratio measures the ability of a business to pay for its current liabilities from its reported operating cash flows. The best-case scenario is when the ratio reveals operating cash flows that are several multiples of the liabilities that must be settled. Conversely, a low ratio indicates that cash flows may not be sufficient to settle all obligations as they come due, which could indicate an impending solvency issue.

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Trump Media earnings delay expected after auditor barred by SEC

Accounting Today

Investors waiting for an update of how Donald Trump's media startup is faring will have to wait a bit longer — months by some accounts — before getting a look at financial results.