Accounting Today

SEPTEMBER 8, 2023

The SEC's recently finalized rule on private fund advisors will impose new requirements.

Auditing 348

Auditing 348

FundThrough

SEPTEMBER 8, 2023

In the wake of Hurricane Idalia, the devastation faced by entrepreneurs is deeply felt. As business owners ourselves, the very thought of watching years of hard work being swept away overnight is heart-wrenching. Understanding the importance of rebuilding and getting back on your feet as soon as possible, we’ve compiled a few useful resources.

Invoicing 105

Invoicing 105

Accounting Today

SEPTEMBER 8, 2023

Following a top-to-bottom review of enforcement efforts, the agency is shifting more attention from working-class taxpayers to high-income earners, partnerships, large corporations and promoters of abusive tax shelters.

Tax 334

Tax Auditing Accounting Accounting 334

Accounting Tools

SEPTEMBER 8, 2023

Related Courses The Income Statement The Interpretation of Financial Statements Gross vs. Net Income for a Business The concepts of gross and net income have different meanings, depending on whether a business or a wage earner is being discussed. For a company, gross income equates to gross margin , which is sales minus the cost of goods sold. Thus, gross income is the amount that a business earns from the sale of goods or services, before selling, administrative, tax, and other expenses have be

Financial Statements 76

Financial Statements Payroll Tax 76

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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.

Accounting

Accounting Today

SEPTEMBER 8, 2023

The Internal Revenue Service is leveraging artificial intelligence to detect tax evasion as it uses the extra funding from the Inflation Reduction Act to ramp up compliance efforts.

Auditing 331

Auditing Tax 331

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Accountants' Guidebook Bookkeeping Guidebook New Controller Guidebook Most accounting tasks can be divided into financial accounting and managerial accounting. It is useful to describe the differences between these two aspects of accounting, since each one describes a distinctly different career path. In general, financial accounting refers to the aggregation of accounting information into financial statements , while managerial accounting refers to the internal processes used to

Financial Statements 76

Financial Statements Accounting Accounting Financial Accounting 76

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash The ledger balance and available balance are terms used by a bank for the cash position of a checking account. The ledger balance is the balance available as of the beginning of the day. The available balance may be defined in two different ways, which are as follows: The ledger balance, plus or minus any subsequent activity during the day; essentially, it is the ending balance at any point in time during the day;

Deposits 75

Deposits Bookkeeping Auditing Bank Reconciliation 75

Accounting Today

SEPTEMBER 8, 2023

Despite the tremendous buzz, it is crucial to recognize that AI's true role in accounting will likely be to augment human capabilities and streamline processes.

Accounting 322

Accounting Accounting 322

Insightful Accountant

SEPTEMBER 8, 2023

With the virtual event right around the corner, here's another sneak peek at what to expect—and why you should sign up today.

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Accounting Today

SEPTEMBER 8, 2023

As accounting students start a new semester, there is a glimmer of optimism in the distance.

Accounting 195

Accounting Accounting 195

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.

Payroll

Economize

SEPTEMBER 8, 2023

According to Fortinet’s report, one in five organizations now hosts 75% of their workloads in the cloud. As a majority of IT organizations move to public cloud services, which often involves storing sensitive and personally identifiable information (PII), cloud security has skyrocketed to the forefront of concern.

Computation 59

Computation 59

Accounting Today

SEPTEMBER 8, 2023

Indiana CPA Society adds five to board of directors; Eide Bailly Financial Services becomes Eide Bailly Wealth; and more news from across the profession.

CPA 189

CPA Financial Services 189

Nanonets

SEPTEMBER 8, 2023

Ach and Wire are two of the most popular ways of money transfer in the United States. Both systems have their own unique advantages and disadvantages. You will have to make a choice based on your personal or business requirements. First, let's delve into the mechanics of ACH and Wire transfers, followed by an exploration of their distinctions, guidance tailored for small businesses, and concluding with instructions on establishing ACH and Wire processes.

Billing 52

Billing Payroll Accounts Payable Accounts Payable 52

Accounting Fun

SEPTEMBER 8, 2023

Most people (in the UK anyway) who hear the two words 'Death and Taxes' tend to think of Benjamin Franklin (1706-90) who is usually credited with saying: "In this world nothing can be said to be certain, except death and taxes." This was apparently written in a letter to Jean-Baptiste Leroy, 1789, which was re-printed in The Works of Benjamin Franklin, 1817.

Tax 49

Tax 49

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.

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is the General Journal? The general journal is part of the accounting record keeping system. When an event occurs that must be recorded, it is called a transaction , and may be recorded in a specialty journal or in the general journal. There are four specialty journals, which are so named because specific types of routine transactions are recorded in them.

General Ledger 40

General Ledger Record Keeping Bookkeeping Accounts Payable 40

NACM

SEPTEMBER 8, 2023

?️ On today's episode of NACM's Extra Credit podcast:⚖️ Subchapter V small business bankruptcies are up 43% year-over-year in August, the 13th consecutive month of increase. This upward trend is likely to continue through the rest of the year and beyond.

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Accounting Tools

SEPTEMBER 8, 2023

Related Courses Accounting for Inventory How to Audit Inventory What is a LIFO Reserve? The LIFO reserve is the difference between the cost of inventory calculated using the FIFO method and using the LIFO method. The FIFO method assumes that the first units added to inventory are the first ones used, while the LIFO method assumes that the last units added to inventory are the first ones used.

Auditing 40

Auditing Tax Accounting Accounting 40

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Financial Analysis Investing Guidebook What is an Ordinary Annuity? An ordinary annuity is a series of payments having the following three characteristics: All payments are in the same amount (such as a series of payments of $1,000). All payments are made at the same intervals of time (such as once a month or quarter, over a period of a year).

Financial Analysis 40

Financial Analysis 40

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.

CPA

Accounting Tools

SEPTEMBER 8, 2023

What is the Income Exclusion Rule? The income exclusion rule specifies that certain types of income are not to be included in a taxpayer's reported gross income for the purpose of calculating income tax. This means that excluded income is not reported on a taxpayer’s Form 1040. The types of income that can be excluded from reportable income include the following: Annuity and pension payments that constitute returns of capital Child support payments Interest earned on municipal securities Life in

Tax 40

Tax 40

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Accountants' Guidebook Bookkeeping Guidebook The Interpretation of Financial Statements What is the Statement of Retained Earnings? The statement of retained earnings reconciles changes in the retained earnings account during a reporting period. It is useful for understanding how management utilizes the profits generated by a business.

Financial Statements 40

Financial Statements Reconciling Bookkeeping Accounting 40

Accounting Tools

SEPTEMBER 8, 2023

Related Courses The Balance Sheet The Interpretation of Financial Statements What is a Common Size Balance Sheet? A common size balance sheet displays the numeric and relative values of all presented asset , liability , and equity line items. This format is useful for comparing the proportions of assets, liabilities, and equity between different companies, particularly as part of an industry analysis or an acquisition analysis.

Accounts Receivable 40

Accounts Receivable Account Receivables Accounts Receivable Financial Statements 40

Accounting Tools

SEPTEMBER 8, 2023

Related Courses The Income Statement The Interpretation of Financial Statements What is a Contribution Margin Income Statement? A contribution margin income statement is an income statement in which all variable expenses are deducted from sales to arrive at a contribution margin. Then, all fixed expenses are subtracted to arrive at the net profit or net loss for the period.

Financial Statements 40

Financial Statements 40

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

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Double Declining Balance Depreciation? The double declining balance method is an accelerated form of depreciation under which most of the depreciation associated with a fixed asset is recognized during the first few years of its useful life. Advantages of Double Declining Balance Depreciation This approach is reasonable when the utility of an asset is being consumed at a more rapid rate during the early part of its useful l

Computation 40

Computation Auditing Tax Accounting 40

Accounting Tools

SEPTEMBER 8, 2023

Related Courses The Balance Sheet The interpretation of Financial Statements What is a Current Liability? A current liability is an obligation that is payable within one year. The cluster of liabilities comprising current liabilities is closely watched, for a business must have sufficient liquidity to ensure that they can be paid off when due. All other liabilities are reported as long-term liabilities , which are presented in a grouping lower down in the balance sheet , below current liabilitie

Accounts Payable 40

Accounts Payable Accounts Payable Computation Deposits 40

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Gross Profit Ratio? The gross profit ratio shows the proportion of profits generated by the sale of products or services, before selling and administrative expenses. It is used to examine the ability of a business to create sellable products in a cost-effective manner.

Financial Statements 40

Financial Statements 40

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Business Ratios Guidebook Inventory Management Purchasing Guidebook What is the Reorder Level Formula? The reorder level formula is that inventory level at which an entity should issue a purchase order to replenish the amount on hand. When calculated correctly, the reorder level should result in replenishment inventory arriving just as the existing inventory quantity has declined to zero.

Purchase Order 40

Purchase Order 40

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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.

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Accounting Information Systems Lean Accounting Guidebook What is the Transaction Error Rate? The transaction error rate is the percentage of processing errors that an accounting department generates. It is critical to avoid processing errors, since the cost of correcting them is several multiples of the cost of initially completing them correctly.

Billing 40

Billing Accounting Accounting 40