AI in accounting: Who are the humans in the loop?
Accounting Today
JULY 16, 2024
Accounting firms and vendors alike have stressed the importance of having a "human in the loop" to oversee AI. Just who are these humans and what do they do?
Tue.Jul 16, 2024
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Elevate Your Business with Client Accounting Services
Accounting Department
JULY 16, 2024
Growing a business is a multifaceted challenge that requires careful financial management. For many business owners, juggling daily operations while keeping track of finances is daunting. Enter Client Accounting Services (CAS), a crucial element for business growth that improves financial accuracy, reduces costs, and offers expert financial guidance.
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How real-time accounting drives a healthier financial future
Accounting Today
JULY 16, 2024
Accounting is an industry wedded to traditional techniques, so leveraging new technology will require a cultural shift within the organization.
TJCA May Bring Wave of C Corp Conversions
Insightful Accountant
JULY 16, 2024
The potential expiration of key provisions of the Tax Cuts and Jobs Act (TCJA) at the end of 2025 is a critical issue that requires careful attention and proactive planning, and Section 199A is no exception.
Breaking Ground on Better Payment Processes: Strategies for Construction Pros
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
KPMG takes lead in Q1 SEC audit clients
Accounting Today
JULY 16, 2024
The Big Four firm netted the most new SEC audit clients in the first quarter, followed closely by Deloitte.
Underwriting definition
Accounting Tools
JULY 16, 2024
What is Underwriting in Insurance? Underwriting is the exchange of a fee for the acceptance of risk. This is a risk transfer from one party to another, and is most commonly applied to the insurance industry, where clients pay an insurer to take on specific risks. If a covered risk occurs, the underwriter pays the client an amount stated in the related insurance contract.
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Nonprofit accounting definition
Accounting Tools
JULY 16, 2024
What is Nonprofit Accounting? Nonprofit accounting refers to the unique system of recordation and reporting that is applied to the business transactions engaged in by a nonprofit organization. A nonprofit entity is one that has no ownership interests, has an operating purpose other than to earn a profit , and which receives significant contributions from third parties that do not expect to receive a return.
Internal auditing to undergo major transformation, says IIA
Accounting Today
JULY 16, 2024
The role of the internal auditor is expected to change drastically in the decade to come, according to a new report by the Institute of Internal Auditors.
The Rule of 72 definition
Accounting Tools
JULY 16, 2024
What is the Rule of 72? The Rule of 72 is a calculation used to estimate the number of years it will take to double one’s invested money, given a specific annual rate of return. The rule is useful in situations where you do not have access to more precise methods of calculation, such as an electronic spreadsheet or a calculator. How to Calculate the Rule of 72 The calculation is to divide 72 by the interest rate on the invested funds.
AuditBoard releases assessment tools for IIA standards
Accounting Today
JULY 16, 2024
AuditBoard has released an out-of-the-box assessment tool feature for internal auditors to assess conformance with new IIA global standards.
The Growth Architect: How Financial Leaders are Unlocking Potential
Speaker: Ashley Harlan, MBA
What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.
QuickBooks Payments Price Hike August 15th
Insightful Accountant
JULY 16, 2024
Intuit is hiking the cost of its QuickBooks Payments processing as of August 15, 2024. This price change only impacts Intuit customers processing 'payment card' transactions using QuickBooks Payments.
In the blogs: It's understandable
Accounting Today
JULY 16, 2024
BOI guidance; IRS accessibility; home on the road; and other highlights from our favorite tax bloggers.
Docyt AI unveils "Gary", their 'AI Bookkeeper'
Insightful Accountant
JULY 16, 2024
Docyt AI has announced a new AI-based bookkeeping tool called "Gary.
Recording accounting transactions
Accounting Tools
JULY 16, 2024
How to Record an Accounting Transaction When an accounting transaction occurs, it can be recorded in the books of an organization in a number of ways. The following comments note the most common methods available. These recordation methods all create entries in the general ledger , or else in a subsidiary ledger that then rolls into the general ledger.
2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)
Advertiser: Paycor
Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!
ESG Reporting Tips: A Complete Overview Guide
oAppsNet
JULY 16, 2024
Effective Environmental, Social, and Governance (ESG) reporting is vital for companies committed to sustainability and transparency. Good ESG reporting satisfies regulatory requirements and builds trust with investors, customers, and the public. It involves accurately and succinctly communicating a company’s impact on the environment, its people, and how it is governed.
Accounts payable turnover ratio
Accounting Tools
JULY 16, 2024
What is the Accounts Payable Turnover Ratio? Accounts payable turnover is a ratio that measures the speed with which a company pays its suppliers. If the turnover ratio declines from one period to the next, this indicates that the company is paying its suppliers more slowly, and may be an indicator of worsening financial condition. A change in the turnover ratio can also indicate altered payment terms with suppliers, though this rarely has more than a slight impact on the ratio.
Trump's rise poses threat to tax break that underpins muni bonds
Accounting Today
JULY 16, 2024
The muni tax-exemption — estimated to cost the U.S. government roughly $40 billion each year — has been mentioned as a target for elimination.
The Role of AI in Fintech: A Deep Dive
AvidXchange
JULY 16, 2024
Seventy-two percent of organizations are currently using artificial intelligence (AI) in their finance department, according to AvidXchange’s 2024 Trends Survey. It is no surprise given the buzz surrounding this technology. While many businesses are experimenting with AI, some may wonder, “How is AI used in fintech?” This piece will share the potential uses for AI in fintech, including popular applications and challenges surrounding the implementation of this groundbreaking technology.
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
Intuit's Shift to AI Failed on Day One
Cloud Accounting Podcast
JULY 16, 2024
In light of recent events, Blake and David examine assassination attempts on US presidents, providing historical context. They move on to Intuit's recent layoffs, critiquing the company's communication strategy and exploring potential AI improvements for such announcements, and then shift to the Synapse bankruptcy, its impact on fintech users, and evolving regulatory scrutiny.
The shocking numbers behind US presidential assassination attempts
Blake Oliver
JULY 16, 2024
As an accountant, when disaster strikes, I cope by putting numbers to it. So when I heard about the assassination attempt on President Trump this weekend, I did some research. The findings? Being President is one of the most dangerous jobs in the world: -27% of US presidents (12 out of 45) have faced assassination attempts 8.9% (4 out of 45) were assassinated in office The 4 presidents killed in office: Lincoln, Garfield, McKinley, Kennedy 8 more survived attempts, including Jackson, Teddy Roose
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