Fri.Sep 29, 2023

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IRS expands features in Tax Pro Accounts

Accounting Today

The Internal Revenue Service is allowing tax practitioners to see their client's tax information, including balance due amounts, as well as withdraw from their active authorizations online in real time.

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Getting Active with the ADC Summer Challenge | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 2 of our NEW podcast, Beyond the Books , is now live and ready for your listening pleasure.

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How inflation affects accounting and finance teams

Accounting Today

When inflation is high, industry professionals turn to inflation accounting strategies to increase accuracy in financial analysis and reporting.

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Listen Up, Young Accountants: Career Advice For Sticking Out Those Early Years

Blake Oliver

Ed. note: enjoy some wisdom from a profession OG in this guest post from Blake Oliver. TLDR: Patience, intellectual curiosity, soft skills, and time management will take you far. Most importantly, advocate for yourself. Different generations in the workforce often struggle to understand each other. But experts say one thing that young professionals can do, including young accountants, is to be more patient.

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Fall In Love With the Month-End Close

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.

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SEC hits Prager Metis with hundreds of audit violations

Accounting Today

The commission charged the Top 100 Firm with violating auditor independence rules on many occasions.

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Advance from customer definition

Accounting Tools

What is an Advance from Customer? Advance from customer is a liability account , in which is stored all payments from customers for goods or services that have not yet been delivered. Once the related goods or services have been delivered, the amount in this account is shifted to a revenue account. Classification of the Advance from Customer Account The advance from customer account is typically considered a short-term liability account, since the amounts stored in it are usually settled within

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Cost management definition

Accounting Tools

Related Courses Cost Management Guidebook What is Cost Management? Cost management is the control of actual or forecasted costs incurred by a business. It is essential for a company to employ proper cost management, or else it will have difficulty consistently generating a profit. This concept is best applied as a formalized process, using some or all of the following steps.

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IRS offers tax relief on money market redemptions

Accounting Today

The Internal Revenue Service issued guidance Friday saying a redemption of shares in a money market fund won't be treated as part of a wash sale, which would subject it to taxes.

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Ratio analysis definition

Accounting Tools

Related Courses Business Ratios Guidebook Guide to Analytical Procedures The Interpretation of Financial Statements What is Ratio Analysis? Ratio analysis is the comparison of line items in the financial statements of a business. Ratio analysis is used to evaluate a number of issues with an entity, such as its liquidity , efficiency of operations, and profitability.

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Developing a CPA firm AI policy

Accounting Today

The sooner you take an active approach to artificial intelligence, the less overwhelmed you'll feel about it.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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What’s New at Xero in the United States

Cloud Accounting Podcast

Ben Richmond, Xero's Country Manager for the United States, joins us to discuss new Xero product features like improved inventory management and AI integration, plans for the upcoming XeroCon 2024 conference, the future of the accounting profession, and Xero's sponsorship of the FIFA Women's World Cup. Ben provides an insider's look into Xero's roadmap and vision for transforming accounting with technology. (00:00) - Intro and XeroCon Conference Plans (02:15) - New Xero Product Features (07:15)

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On the move: Brown Schultz Sheridan & Fritz raises $3K for local United Way

Accounting Today

NJCPA launches 14th annual food drive; Mazars elects five new partners and principals; and more news from across the profession.

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Tax Preparation Workflow: A 3-Step Guide (Diagram Included)

Jetpack Workflow

Scaling your firm and getting more clients can result in a busy tax season, which is good for your top line. However, without the proper workflow structures to manage your expanding client base, you can wind up with constant bottlenecks and a hectic start to the year. For many CPA firms, tax preparers, and accountants, creating a detailed tax preparation workflow helps keep their teams on track while also letting them uncover new opportunities for enhancing client satisfaction.

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Deloitte partners paid over £1M despite slowdown

Accounting Today

The amount shared by the accounting firm's 1,300 U.K. equity partners is broadly the same as last year.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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He Looks Like a Rapper But Runs a $2M Accounting Firm

Blake Oliver

You'd never guess it by his rapper appearance, but my recent podcast guest, Scott Scarano , is a highly successful accounting firm owner. When I first met Scott, I honestly did not take him for a firm owner. Between the hat, chain, and lack of a typical "accountant look," I assumed he was just another of Michael Ly's eclectic connections. But I was so, so wrong.

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Tech News: Aiwyn unveils 'Relay'

Accounting Today

Plus, CPACharge rolls out automated invoicing feature; and other news and updates from the accounting technology world.

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Soft Skills, Not Spreadsheets: Keys to a Successful Accounting Career

Earmark Accounting Podcast

Jerry Maginnis has over 40 years of experience in the accounting profession. In this episode, he shares his journey from college student to managing partner at KPMG, offering advice to young accountants on how to build a successful career. Jerry emphasizes the importance of soft skills like communication, empathy, and relationship-building, arguing that technical expertise alone is not enough.

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Ted on Tech: Itsy-bitsy PCs

Accounting Today

Small computers can help when working in smaller office spaces.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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Google App Engine Flexible vs. Standard : Pricing & Features

Economize

When developing and deploying applications on Google Cloud, one of the critical decisions you’ll face is choosing the right platform for hosting your applications. Google Cloud offers two primary options for hosting web applications: App Engine Standard and App Engine Flexible. Each has its strengths and is suitable for specific use cases.

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Unleashing Innovation at Becker’s 2023 Health IT + Digital Health + RCM Annual Meeting

SSI Healthcare Rev Cycle Solutions

Unleashing Innovation at Becker’s 2023 Health IT + Digital Health + RCM Annual Meeting Home / September 20, 2023 The Windy City is about to get a gust of transformative ideas as Becker’s 2023 Health IT + Digital Health + RCM Annual Meeting blows into Chicago. And if you’re passionate about ensuring the success of your healthcare organization in these fast-paced times, this is the place to be!

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Guide to Streamline Vendor Payments

Nanonets

According to the American Productivity and Quality Center (APQC), the world’s top performing organizations receive an invoice and schedule payment in 2.8 days or faster. But bottom-performing organizations take a week or more, and this metric—the cycle time between receiving invoices and making payments—is reflective of how efficient a company’s Accounts Payable (AP) process is.

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How to Get Your Invoices Paid Sooner: Three Popular Routes

Outsourced Bookeeping

Maintaining a healthy cash flow is imperative for every competitive business firm. Working with a healthy capital amount allows a business to invest more efficiently and also clear out debts and payments on time. However, achieving this aspect can be more complicated than it seems. Operating in the present commercial space, there is always an issue with delayed payment that cripples a business’ ability to achieve its financial goals.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Top 6 Accounts Payable KPIs to measure

Nanonets

Enhance your organisational efficacy with practical application of the right key performance indicators!  Peter Drucker once said, “If you don’t measure it, you can’t improve it.”  Tracking the performance of the Accounts Payable department of your company requires way more effort than just tracking the number of invoices that are past their due date!

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Canopy Accounting Software: An In-Depth Review

Future Firm

Many have relied on Canopy as their accounting project management solution to streamline their firm’s financial operations. In this review, let’s find out what sets Canopy apart from the others, spotlighting its functionalities, benefits, drawbacks, and more. Let’s get into it! Table of Contents What is Canopy Accounting Software? Canopy Accounting Software Features Canopy Accounting Software Pricing Canopy Accounting Software Alternatives What is Canopy Accounting Software?

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The accountant and the bikers

Accounting Fun

An accountant is sitting alone in a country pub sipping a beer and reviewing some accounts which he has out on the table in front of him. A bunch of bikers roar up to the pub and when then go inside they immediately begin harassing the accountant. He tries to ignore them as they insult him and make fun of his glasses, the accounts and the fact that he isn't responding to their taunts.

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Account title definition

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is an Account Title? An account title is the unique name assigned to an account in an accounting system. An account title is essential when the accounting staff needs to identify an account, since the title conveys the purpose of the account. The other unique identifier, the numeric account code, may incorporate some identification logic, but is much more difficult to associate with a specific account.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.

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ChatGPT: The Credit Manager’s Assistant

NACM

? On today's episode of Extra Credit: A recent eNews poll revealed that one quarter of credit professionals use ChatGPT in some capacity for their work. Hear about the advantages and disadvantages of using ChatGPT in the credit department.⭐ Hear from Justin Cowart; Elliot Jenneman, Alejandro Ojeda-Nonzioli; and Marty Smith!

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The difference between unearned revenue and unrecorded revenue

Accounting Tools

Related Courses Revenue Recognition Unearned revenue is a customer payment for which no goods or services have yet been provided. Unrecorded revenue is a sale that has been earned, but for which no record has yet been made in a firm’s accounting system. This means that the following differences between unearned revenue and unrecorded revenue are present: Unearned revenue has been recorded in the accounting system (as a receipt of cash and an offsetting liability ), while unrecorded revenue has n

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FundThrough places No, 166 on The Globe and Mail’s fifth-annual ranking of Canada’s Top Growing Companies.

FundThrough

Toronto, ON – September 29, 2023 FundThrough is pleased to announce it placed No. 166 on the 2023 Report on Business ranking of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. FundThrough earned its spot with three-year growth of 291%. With FundThrough’s technology-powered invoice funding platform, businesses control […] The post FundThrough places No, 166 on The Globe and Mail’s fifth-annual ranking of Canada̵

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Accrued rent liability definition

Accounting Tools

Related Courses Property Management Accounting What is Accrued Rent Liability? Accrued rent liability is a balance sheet account that stores the amount of rent incurred but not yet paid. This account is used by a tenant that has entered into a facility rental arrangement with a landlord. Classification of Accrued Rent Liability The liability is usually included in the accrued liabilities account, along with all other accruals.

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Unlock The Blueprint: How To Construct A Better Payment Workflow

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.