Tue.Sep 12, 2023

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12 ways your firm can use AI to improve operations

Accounting Today

Are you wondering how artificial intelligence can revolutionize your accounting practice? We've got you covered.

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New AI Invoice Data Capture Tool Available for Microsoft Business Central Users

Fidesic blog

A new AI powered invoice process solution for Microsoft D365 Business Central is a truly transformative piece of technology for accounts payable pros.

Invoicing 243
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Intuit plans appeal after judge rules that TurboTax can't be marketed as "free"

Accounting Today

Intuit plans to appeal a recent legal decision which ruled that the company cannot claim TurboTax, which it owns, is "free.

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The difference between semimonthly and biweekly payroll

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management The difference between a semimonthly and a biweekly payroll is that the semimonthly one is paid 24 times per year, and the biweekly one is paid 26 times per year. A semimonthly payroll is paid twice a month, usually on the 15th and last days of the month. If one of these pay dates falls on a weekend, the payroll is instead paid out on the preceding Friday.

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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 clarifies new corporate alternative minimum tax

Accounting Today

Notice 2023-64 offers guidance on the 15% levy on large businesses — and waives some penalties.

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Foreign exchange contract definition

Accounting Tools

Related Courses Corporate Cash Management Foreign Currency Accounting What is a Foreign Exchange Contract? A foreign exchange contract is a legal arrangement in which the parties agree to transfer between them a certain amount of foreign exchange at a predetermined rate of exchange, and as of a predetermined date. These contracts are most commonly used when an organization buys from a foreign supplier , and wants to hedge against the risk of an unfavorable foreign exchange rate fluctuation befor

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Emburse Announces Automated Expense Reports with AI Receipt Scanning

Insightful Accountant

Emburse has brought automated expense reports closer using AI Receipt scanning. Its new Emburse Transcription Engine enhances a mobile-first approach to simplify expenses and reduce out-of-policy spending.

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What's risky for accountants? Insurance pros weigh in

Accounting Today

Three experts share the hot-button issues in malpractice liability for accountants — and key ways to protect a firm.

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Judie McCarthy on Onboarding Technology and Client Communications

Insightful Accountant

Insightful Accountant Publisher Gary DeHart sits down with Client Hub's Judie McCarthy to discuss the art of growing and scaling your accounting practice.

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Organizations spending more time on SOX compliance

Accounting Today

Despite over two decades of experience, complying with the Sarbanes-Oxley Act of 2002 doesn't seem to be getting any easier for audit and finance leaders.

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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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Future Forward 2023: Turnkey Back Office Solutions

Insightful Accountant

Remote Controller's Pete Audenas shows us how building a Toolbox, including Microsoft’s Power Platform, Azure & OpenAI, can drive your advisory revenue. Sign up for the webinar today.

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SEC charges Marcum exec with quality control problems

Accounting Today

The Securities and Exchange Commission charged the former national assurance services leader at Marcum LLP with failing to address and remediate a number of deficiencies in the New York-based auditing firm's quality controls.

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Cloud Efficiency Rate: A New Metric To Quantify Cloud-Native Business Value

CloudZero

Empower your engineering org to answer the question: When we spend a dollar in the cloud, how much do we get back?

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Controllers face choices, challenges with ESG

Accounting Today

Corporate controllers can play an important role in environmental, social and governance reporting as the U.S. and other countries prepare to impose new reporting requirements.

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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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The Top 3 OCR Kofax Alternatives

Nanonets

Kofax, a well-known player in the Intelligent Automation industry, has been a go-to choice for businesses seeking document capture, workflow management, and Robotic Process Automation (RPA) solutions. However, the ever-evolving market offers a variety of alternatives that provide similar functionalities and even unique features to cater to diverse business needs.

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PCAOB fines Canadian audit firm and its sole partner

Accounting Today

The Public Company Accounting Oversight Board imposed a $30,000 civil penalty against K.R. Margetson, a firm in North Vancouver, British Columbia, and its sole partner, Keith R. Margetson, for quality control violations and revoked his firm's registration for a year.

Auditing 189
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Swiss Army CFO: Responsibilities Expand Far Beyond Finance-eBook

Tipalti

CFOs at mid-size businesses are being pulled in dissonant ways, some of which are very new and dynamic—including challenges that seem outside the traditional

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In the blogs: Of significant interest 

Accounting Today

Future of contactless prep; reverse convenience; importance of the invoice; and other highlights from our favorite tax bloggers.

Invoicing 154
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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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Building Resiliency Within the Finance Organization-eBook

Tipalti

As the economy emerges from the pandemic, digital transformation is accelerating in finace, this shift is motivating today's CFOs to take a more strategic

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Demystifying Business Entities: Who Can Own What?

CSI Accounting & Payroll

Many small business owners dream of growing their operation. If you’re one of them, whether you’re an LLC or not, do you know which business entities your business can own? CSI Accounting & Payroll has worked with small business owners for over 50 years. When owners find growth with the help of our services, they often want to know how they can acquire another business.

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QuickBooks invoice automation for faster AP processing

Nanonets

Growing businesses often struggle to deal with sudden increases in invoices. Throw in manual invoice processing and siloed data and systems, and you've got a recipe for inefficiency and frustration. The cost of manually processing invoices can climb from $15 to $40 per invoice , not to mention the countless hours spent on data entry.  In sharp contrast, automated invoice processing could reduce the cost to $1.42 per invoice , leading to significant cost savings.

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Corporate overhead definition

Accounting Tools

Related Courses Activity-Based Costing Cost Accounting Fundamentals Cost Management Guidebook What is Corporate Overhead? Corporate overhead is comprised of the costs incurred to run the administrative side of a business. These costs include the accounting, human resources, legal, marketing, and sales functions. When corporate costs are incurred, they are considered to be period costs , and so are charged to expense as incurred.

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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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Member Spotlight Blog: Learn to Protect Company Assets

NACM

NACM's Professional Certification Program gives credit professionals an opportunity to use their knowledge and skills to their advantage. Whether advancing your career, expanding your knowledge on basic information or even learning completely new skills, earning designations help credit professionals with career growth. Earning designations are not.

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Flexible budget definition

Accounting Tools

Related Courses Budgeting Capital Budgeting Effective Sales Forecasting What is a Flexible Budget? A flexible budget adjusts to changes in actual revenue levels. Actual revenues or other activity measures are entered into the flexible budget once an accounting period has been completed, and it generates a budget that is specific to the inputs. The budget is then compared to actual expenses for control purposes.

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Failure costs definition

Accounting Tools

Related Courses Quality Management Fundamentals What are Failure Costs? Failure costs are those incurred by a manufacturer when it produces defective goods. There are two types of failure costs, which are internal and external. Internal failure costs occur before goods are shipped to customers , while external failure costs arise subsequent to shipment.

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Private sector definition

Accounting Tools

What is the Private Sector? The private sector includes all parts of an economy that are not under the direct control of the government. This sector includes businesses that are owned by individuals or other firms. Entities that are owned or controlled by the government are classified as being part of the public sector. The private sector is driven by the need to earn a profit , while the public sector is driven by the provision of services to the general public.

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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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Flash report definition

Accounting Tools

Related Courses Controller Education Bundle New Controller Guidebook What is a Flash Report? A flash report is a summary of the key operational and financial outcomes of a business. It is typically provided by the accounting department to the management team on a frequent basis, perhaps daily or weekly. The report is intended to point out issues that the management team can take action on.

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Financial highlights definition

Accounting Tools

Related Courses Public Company Accounting and Finance The Interpretation of Financial Statements What are Financial Highlights? Financial highlights summarize the key monetary results of an organization. These highlights are usually set forth in a separate section of the financial report of a publicly-held company to its shareholders. The types of information that may be found in a financial highlights section include: Acquisition summaries Dividends Earnings per share Liquidity statistics Net c

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Revaluation definition

Accounting Tools

Related Courses Fixed Asset Accounting International Accounting What is a Revaluation? Revaluation is used to adjust the book value of a fixed asset to its current market value. This is an option under International Financial Reporting Standards , but is not allowed under Generally Accepted Accounting Principles. Once a business revalues a fixed asset, it carries the fixed asset at its fair value , less any subsequent accumulated depreciation and accumulated impairment losses.

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Risk transfer definition

Accounting Tools

Related Courses Business Insurance Fundamentals Disaster Recovery Planning Enterprise Risk Management What is a Risk Transfer? A risk transfer occurs when one party deliberately shifts risk to a different entity, usually by purchasing an insurance policy. This risk may be shifted further, from an insurer to a reinsurer, so that the original insurer does not accumulate too much of a particular type of risk.

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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.