Tue.Oct 10, 2023

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Accounting groups look to identify pipeline problems

Accounting Today

State and local organizations hope to learn what's behind the decline in young people pursuing the CPA.

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Xero Awards UK: How to craft a winning award entry

Xero

Entries for the UK Xero Awards 2024 are now open for our accounting, bookkeeping and app partners. Being an award-winning firm isn’t easy, and neither is writing an award-winning entry. So how can you put your best foot forward when crafting your award submission? In season one of Beyond Numbers – our new podcast for accountants and bookkeepers – we spoke to Pam Phillips, founder and managing director of award-winning small firm de Jong Phillips , who shared her advice on not just being an award

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Auditors more worried about cybersecurity than AI risks

Accounting Today

A majority of chief audit executives and information technology audit leaders consider cybersecurity to be a top risk over the next year, but they're less concerned about artificial intelligence.

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The BILL Spend & Expense Approach to Making Expense Management Easy

Accounting Department

When running a business, keeping track of expenses can be a daunting task. From petty cash expenses to vendor payments, you need to ensure every penny spent is accounted for. That's where expense reports come in.

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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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IRS rules allow car dealers to provide rebates for EV tax credits upfront

Accounting Today

The guidance explains how buyers of electric vehicles can transfer their tax credits to dealers and get advance payments that lower the cost.

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It's Time for QBTalks and the QBO Update

Insightful Accountant

Join Liz Scott on Wednesday, October 18, 2023 at 2 PM Eastern for the latest and greatest news about the QuickBooks Online product line-up. You won't want to miss it.

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Insightful Accountant's 2024 International ProAdvisor Awards

Insightful Accountant

Insightful Accountant is proud to announce the new International ProAdvisor Awards for 2024. The awards will be conducted alongside the US Top 100 ProAdvisor and Up-n-coming ProAdvisor awards.

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Cybersecurity for CPAs: Technically legal but still frowned upon

Accounting Today

A lack of data management policies can be an expensive mistake.

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CFOs Pivoting from Revenue Growth to Cost Control

Insightful Accountant

According to US Bank's 'CFO Insights Report,' more of today's finance leaders are shifting to more of a defense mode. Check out the survey results inside.

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FASB updates disclosure requirements in response to SEC

Accounting Today

The Financial Accounting Standards Board is incorporating some of the Securities and Exchange Commission's disclosure requirements into its Accounting Standards Codification.

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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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Leverage ratios

Accounting Tools

Related Courses Business Ratios Guidebook Key Performance Indicators The Interpretation of Financial Statements What are Leverage Ratios? Leverage ratios are used to determine the relative level of debt load that a business has incurred. These ratios compare the total debt obligation to either the assets or equity of a business. A high ratio indicates that a business may have incurred a higher level of debt than it can be reasonably expected to service with ongoing cash flows.

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Grant Thornton's revenues hit $2.4B

Accounting Today

The Top 10 Firm reported Tuesday it reached a record annual revenue of $2.4 billion for the fiscal year ending July 31, 2023.

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Corporate Credit Card Policy

Tipalti

Learn how to create a corporate credit card policy that meets your company's needs and protects against fraud. This article covers everything from setting spending limits to monitoring transactions.

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Pittsburgh Steelers team with CAQ to recruit accounting students

Accounting Today

The Pittsburgh Steelers kicked off an unusual multiyear partnership Tuesday with the Center for Audit Quality's Accounting+ initiative with the goal of drafting a new generation of diverse students to join the accounting profession.

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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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Intuit QuickBooks Small Business Index 2023 Annual Report

Insightful Accountant

Here's a detailed new analysis of official statistics, employment trends from the Intuit QuickBooks Small Business Index, including surveys of 5,000-plus small businesses and data from 3-million QuickBooks customers.

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Tax headaches when QTIP trusts hold interests in LLCs

Accounting Today

Significant tax and legal issues may be triggered with some types of estate planning arrangements.

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How rising interest rates impact small businesses and ways to mitigate those effects

Ontrack Bookkeeping

In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that bears significant implications for small businesses is rising interest rates. Understanding how this impacts your business and identifying solutions to counteract these effects can be key to sustaining and growing your business.

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Sam Bankman-Fried's FTX trial witnesses: Who knew what, when

Accounting Today

For years, company leadership allegedly misrepresented and concealed key details about FTX's operations from investors, other employees and the customers who prosecutors claim had billions of dollars of their money stolen.

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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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Holiday Pay vs. Overtime Pay

CSI Accounting & Payroll

Payroll seems easy, but it has to follow the law. How do you stay in compliance when it comes to holiday pay and overtime pay - especially when it looks like there’s overlap? At CSI Accounting & Payroll, we’ve worked with small businesses for over 50 years. In all of that time, we’ve learned a lot about labor laws and how they affect payroll! In this article, we’ll go over what we tell small business owners who ask these questions: What is holiday pay?

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In the blogs: Simple hopes

Accounting Today

Staffing and AI; a tab for online sports bets; risk factors; and other highlights from our favorite tax bloggers.

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Could This Be the Fix for the Accounting Talent Shortage?

Blake Oliver

Accounting has a problem. You've probably heard the warnings about an impending talent crisis in the profession. Simply put, demand is outpacing supply. Here’s the deal. Earning that coveted CPA license requires 150 credit hours, equivalent to five years of college education. That’s no small feat for students. This decades-old rule deters many from pursuing accounting degrees and careers.

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Bank Remittance: How It Works and What to Consider?

Nanonets

​A bank remittance is a payment sent to a bank, typically in another country, for the purpose of financing a purchase or other transaction. ​Bank remittances are often used to pay for goods or services, or to transfer money to friends and family members. The money is typically sent through an intermediary, such as a wire transfer service or even PayPal.

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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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Navigating Success with the Best Accounting Software for CPAs and Accounting Firms

CapActix

Introduction Effectively handling the financial matters of numerous businesses can pose challenges in terms of organization and oversight. That’s where the best accounting software for CPAs and accounting firms comes into play. This advanced software offers a comprehensive range of features, including payroll management, report generation, expense tracking, and even tools for auditing and tax preparation support.

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Benefits of October Bookkeeping for Small Businesses

Bookkeeping Express

Every year, small business owners find themselves in a frantic race against time as December inches closer. This last-minute scramble typically involves gathering scattered receipts, invoices, and financial statements, reconciling accounts, calculating tax obligations, and preparing financial statements for tax filing. It’s a high-pressure situation that takes a toll on your well-being and poses significant risks to your business.

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Underlift position

Accounting Tools

Related Courses Oil and Gas Accounting What is an Underlift Position? An underlift position arises when an organization owns a partial interest in a producing property and does not take its entire share of the oil and gas that is produced in a period. In this situation, there is an imbalance in the apportionment of oil and gas produced, so the firm recognizes revenue based on its ownership share of production in the period, as well as a receivable for any oil and gas shortfall (an underlift posi

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Member Spotlight: Education Rekindles Motivation

NACM

Education gives professionals the opportunity to learn, share their knowledge and grow. NACM's Professional Certification Program allows credit professionals to earn credentials that showcase excellence and mastery in their career. With six levels of professional certifications, credit professionals are motivated to sharpen their tools or learn new.

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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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Unitization definition

Accounting Tools

Related Courses Oil and Gas Accounting What is Unitization? A unitization is the pooling of assets by several parties in an oil and gas producing area in order to form a single operating unit, in exchange for receiving an interest in that unit. These arrangements are entered into to achieve operating efficiencies across the producing area, or because unitization is required by the government.

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Fake mansions and rent-stabilized units emerge in Trump trial

Accounting Today

Jeffrey McConney testified that he added tens of millions of dollars a year to the former president's annual financial statements for the value of mansions that did not exist.

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Ceiling test definition

Accounting Tools

Related Courses Oil and Gas Accounting What is the Ceiling Test? The ceiling test is a method used to keep the capitalized cost of a business from exceeding its underlying value. It is used by an oil and gas producer that employs the full cost method to account for its costs. Under the ceiling test, the net amount of costs in a cost center cannot exceed the sum of the items noted in the following calculation: + The present value of estimated future net revenues , minus any estimated future expen

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Operating performance ratios

Accounting Tools

Related Courses Business Ratios Guidebook Key Performance Indicators The Interpretation of Financial Statements Operating performance ratios are intended to measure different aspects of an organization's core operations. The focus of these measurements is on the efficient use of resources to generate sales , as well as how well assets can be converted into cash.

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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.