Mon.Oct 09, 2023

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The 2023 Best Firms for Women

Accounting Today

Our annual ranking of the most female-friendly workplaces in accounting.

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The single client record is coming: here’s what your practice needs to know

Xero

*Please note that while the process remains the same, all references to Xero Tax are applicable to Australia and New Zealand only. One of the most important ways we’re helping you save time and grow your practice is by moving towards a future where Xero Practice Manager (XPM), Xero HQ and Xero Tax will be seamlessly connected. This will streamline your workflows and give you confidence that your data is accurate and your teams are all working from the same information – no matter what practice

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Art of Accounting: Leaving your job to start your own practice

Accounting Today

Starting a firm is an opportunity and should not be treated as a chore or something that you have no choice in what you are doing.

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Planning for the road ahead: Key insights from the NZ ‘State of the industry’ report 2023

Xero

We are pleased to share the key findings from our study of the accounting and bookkeeping sector in Aotearoa New Zealand. The State of the industry report 2023 is the first of its kind in Aotearoa New Zealand and benchmarks the industry, highlighting key trends, challenges, and opportunities faced by accounting and bookkeeping professionals. Despite a recession being declared midway through 2023 and rising inflation, the sector has shown incredible progress and resilience during these challengin

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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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New rules may make SBA financing easier

Accounting Today

Changes to the Small Business Administration's SOP affect both accountants and their small-business clients.

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11 Game-Changing Marketing Strategies for Accounting Firms in [2023]

Ace Cloud Hosting

Marketing strategy is one of the critical factors that separate high-growth accounting companies from low-growth ones. However, it’s not always the amount of money a company spends distinguishes the winner.

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Planning to Update Your Timekeeping Software in 2024?

Insightful Accountant

Hour Timesheet and Clockwise co-founder Debbie Sabin discusses the right time to upgrade your timekeeping software—and some tips for knowing when.

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What happens if shareholders move to a new state?

Accounting Today

Along with the possible requirement to file paperwork for establishing the corporation in the new state, there may be changes in tax responsibilities.

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Goodwill amortization definition

Accounting Tools

Related Courses Accounting for Intangible Assets Fixed Asset Accounting What is Goodwill Amortization? Goodwill amortization refers to the gradual and systematic reduction in the amount of the goodwill asset by recording a periodic amortization charge. The accounting standards allow for this amortization to be conducted on a straight-line basis over a ten-year period.

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The greater the connection, the greater the service

Accounting Today

As business evolves, the importance of collaboration with clients, tech and regulators for accountants will only increase.

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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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Wash sale rule definition

Accounting Tools

What is the Wash Sale Rule? The wash sale rule states that a taxpayer cannot claim a loss on the sale or trade of a security if it is replaced with a substantially identical security within 30 days. This rule is intended to prevent investors from manufacturing losses for tax purposes on securities that they are essentially continuing to hold. Understanding the Wash Sale Rule The specifics of the wash sale rule are as follows: A wash sale is considered to be any transaction where a security is di

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The art of mindful selling: Becoming a cherished advisor

Accounting Today

It's time to shift your focus from the transactional to the relational.

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Manufacturing cost accounting definition

Accounting Tools

Related Courses Activity-Based Costing Constraint Management Cost Accounting Fundamentals What is Manufacturing Cost Accounting? Manufacturing cost accounting encompasses areas that impact production operations and the valuation of inventory. These activities can significantly boost the profits of a business, as well as bring it into compliance with the applicable accounting standards.

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Top 7 Technology Trends Shaping the Future of Tax 

Ace Cloud Hosting

The taxation industry is adopting the latest technologies, primarily due to the optimization and efficiency they bring to the processes. Thanks to dynamic accounting technologies, taxation professionals are creating their.

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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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Audit sampling definition

Accounting Tools

Related Courses Guide to Audit Sampling Guide to Data Analytics for Audits How to Conduct an Audit Engagement What is Audit Sampling? Audit sampling is the use of an audit procedure on a selection of the items within an account balance or class of transactions. The sampling method used should yield an equal probability that each unit in the sample could be selected.

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Thomson Reuters Unveils ONESOURCE E-Invoicing

Insightful Accountant

Thompson Reuters has unveiled ONESOURCE, a new e-invoicing solution for multinational businesses. The new solution simplifies global e-invoicing compliance with integrations and API connectivity.

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Enterprise resource planning definition

Accounting Tools

Related Courses Accounting Information Systems Key Performance Indicators What is Enterprise Resource Planning? Enterprise resource planning (ERP) is a software and database package that is used to integrate virtually all company processes. The areas that may be integrated with an ERP system include accounting, distribution, engineering, finance, human resources, maintenance, marketing, materials management, production, and sales.

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Is technology making the recruitment process slower?

Nanonets

The recruitment process is a labyrinth of steps, each crucial to ensuring the best talent comes onboard. As the integration of technology into recruitment has expanded, it's worth pausing and asking: Is it speeding up the process or complicating it further? Let’s dive in. 1. The Workflow Needed to Hire a Candidate From the moment a vacancy is identified to the point where a new employee is integrated into an organization, there are multiple phases.

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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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Financial statement preparation

Accounting Tools

Related Courses Closing the Books The Soft Close The Year-End Close How to Prepare Financial Statements The preparation of financial statements involves the process of aggregating accounting information into a standardized set of financials. The completed financial statements are then distributed to management, lenders , creditors , and investors , who use them to evaluate the performance, liquidity , and cash flows of a business.

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Concentration banking definition

Accounting Tools

Related Courses Corporate Cash Management Treasurer's Guidebook What is Concentration Banking? Concentration banking is the practice of shifting the funds in a set of bank accounts into an investment account, from which the funds can be more efficiently invested. Concentration banking usually requires that an organization keep all of its bank accounts with a single bank.

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Payback reciprocal definition

Accounting Tools

Related Courses Capital Budgeting Financial Analysis What is the Payback Reciprocal? The payback reciprocal is the payback period for an investment, divided by 1. This reciprocal yields an approximation of the rate of return on an investment, though only when annual cash flows are uniformly even over the lifetime of the investment, and the cash flows from the project will continue forever.

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Statements of Financial Accounting Standards

Accounting Tools

Related Courses GAAP Guidebook International Accounting What is a Statement of Financial Accounting Standards? A statement of financial accounting standards (SFAS) gives detailed guidance on how to deal with a specific accounting issue. These statements are released by the Financial Accounting Standards Board ( FASB ), which is the primary accounting rule-setting body in the United States for generally accepted accounting principles.

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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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Lien definition

Accounting Tools

Related Courses Essentials of Business Law What is a Lien? A lien is a legal claim against an asset that is not cleared until an associated debt is paid. A lien is filed by a creditor , usually in situations where the asset is in the possession of the debtor. The debtor cannot sell the asset until the lien has been cleared, which provides leverage by the creditor over the debtor.

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Advantages and disadvantages of sole proprietorships

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a Sole Proprietorship? A sole proprietorship is a business that is directly owned by a single individual. It is not incorporated, so that the sole owner is entitled to the entire net worth of the business, and is personally liable for its debts. The individual and the business are considered to be the same entity for tax purposes.

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Stakeholder management

Accounting Tools

Related Courses Project Accounting Project Management What is Stakeholder Management? Stakeholder management is the ongoing maintenance of relationships with those impacted by a project. This concept is used when setting expectations for those who have invested time or money in a project, or are directly impacted by it. The intent of stakeholder management covers the topics noted below.

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DuPont analysis definition

Accounting Tools

Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements What is the DuPont Analysis? DuPont analysis breaks down the components of the return on equity formula to reveal the different ways in which a business can alter its return on equity. This analysis is used by organizations that want to enhance the returns that they provide to investors.

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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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Return on average equity

Accounting Tools

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is Return on Average Equity? The return on average equity measures the performance of a company based on its average shareholders' equity outstanding. The measure is especially useful in situations where a business has been actively selling or buying back its shares , issuing large dividends , or experiencing significant gains or losses ; in these cases, the use of an average equity figure presents a more r

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Discounted cash flow definition

Accounting Tools

Related Courses Capital Budgeting Financial Analysis What is Discounted Cash Flow? Discounted cash flow (DCF) is a technique that determines the present value of future cash flows. This approach can be used to derive the value of an investment. Under the DCF method, one applies a discount rate to each periodic cash flow that is derived from an entity's cost of capital.

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Accounting for a sole proprietorship

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook The accounting for a sole proprietorship differs somewhat from the requirements for other types of business entities. It does not require a separate set of accounting records , since the owner is considered to be inseparable from the business. Nonetheless, one should maintain records for business activities, in order to judge whether these operations are generating a profit.

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Discount on bonds payable definition

Accounting Tools

Related Courses Accounting for Bonds Accountants’ Guidebook What is the Discount on Bonds Payable? The discount on bonds payable is the difference between the face amount of a bond and the reduced price at which it was sold by the issuer. This happens when investors need to earn a higher effective interest rate than the stated interest rate associated with a bond.

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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.