Thu.May 02, 2024

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Generative AI expected to grow, not shrink, headcount

Accounting Today

A set of polls has found that leaders expect that generative AI will lead organizations to actually increase, not decrease, their headcount, at least in the short term.

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ADC Attends The 2024 CEO Coaching Make BIG Happen Summit

Accounting Department

Last week, AccountingDepartment.com Business Development Representative, Shawn Marcum hit the road and attended the CEO Coaching Make BIG Happen Summit in Miami, FL.

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Tax Fraud Blotter: Covers blown

Accounting Today

$300 a scam; dead wrong; permanent problem; and other highlights of recent tax cases.

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What is VendorVault? Accounts Payable Tools

Fidesic blog

What is VendorVault? VendorVault by Fidesic is a secure vendor portal that makes it easier for your vendors to submit, manage and status check their own invoices.

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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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.

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IRS updates modernization plans

Accounting Today

The Internal Revenue Service released an update of its Strategic Operating Plan, with improvements planned in services and technology for both taxpayers and tax professionals.

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Advisor Alliance: Figured

Insightful Accountant

The partnership you need as an agribusiness focused accountant, bookkeeper or ProAdvisor.

More Trending

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Self-liquidating loan definition

Accounting Tools

What is a Self-Liquidating Loan? A self-liquidating loan is a debt that is paid off from the cash flow generated by the assets originally acquired with the funds from the debt. The scheduled loan payments are typically structured to coincide with the cash flows generated by the underlying asset. These loans are structured to have a short duration, and are used to fund temporary increases in current assets.

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Navigating ownership transitions for private company financial leaders

Accounting Today

CFOs need to set clear goals and timelines, explore ownership transfer options and conduct a comprehensive business valuation.

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Separate entity definition

Accounting Tools

What is a Separate Entity? The separate entity concept states that we should always separately record the transactions of a business and its owners. The concept is most critical in regard to a sole proprietorship , since this is the situation in which the affairs of the owner and the business are most likely to be intermingled. Here are several examples of the rules to be followed when using a separate entity: An owner cannot remove funds from a business without recording it as either a loan , c

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Wall Street seizes opportunity to gut SEC trading surveillance

Accounting Today

The Consolidated Audit Trail is a database, one of the largest ever created, that is set to revolutionize how the agency monitors trading activity and spots potential misconduct.

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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.

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5 Things to Consider Before Buying QuickBooks

Ace Cloud Hosting

Thinking about getting QuickBooks to streamline your inventory and simplify accounting? Awesome! But hold on a sec… Before you proceed further, let’s make sure if it’s the right move for.

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Leverage depreciation planning to mitigate tax legislation uncertainty

Accounting Today

R&D amortization requirements are becoming a major issue for many companies, causing a significant tax burden they may not be able to handle.

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Building a Family Firm, Tax Planning, and Process Best Practices w/ Samantha Santaniello

Jetpack Workflow

Podcast Summary Today’s episode features Samantha Santaniello, partner at R.S.K Tax & Consulting. Samantha discusses the importance of setting boundaries to manage time effectively as a business owner. Host David Cristello explores topics like systems and processes for scaling a firm, balancing work and family life, and utilizing AI transcription tools.

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M&A roundup: Up and down the East Coast

Accounting Today

EisnerAmper will be adding Edelstein; Simon, Krowitz, Meadows & Bortnick joined Marcum; LMC acquired Vogel; and Crete secured additional funding.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

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!

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Outsourced Bookkeeping: Basic Principles Every Small Business Owner Should Know

Less Accounting

Outsourced bookkeeping is a strategic service that many small businesses turn to in order to maintain accurate financial records without the overhead of a full-time accountant or bookkeeper. This solution can streamline financial management, reduce costs, and allow business owners to focus more on core business operations. However, to effectively leverage outsourced bookkeeping, it’s essential to understand some foundational principles.

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Monthly Bookkeeping vs. Annual Tax Accountant: Which Is Better for Small Businesses to Outsource?

CSI Accounting & Payroll

Accounting consists of bookkeeping and taxes, but some small businesses don’t want to spend the money to outsource both – especially when there’s limited value if your bookkeeper and tax preparer aren’t working together under one roof.

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How to set up NetSuite Invoice Approval Workflow?

Nanonets

NetSuite approval workflows and other invoice processing tasks can become more streamlined and efficient through AP automation. This article describes a NetSuite invoice approval workflow example with steps and addresses how third-party AP automation integration streamlines approving invoices for payment (and other NetSuite invoice processing workflows).

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Choosing the Best Virtual Corporate Secretarial Service in Singapore for Business Efficiency

Counto

Choosing the Best Virtual Corporate Secretarial Service in Singapore for Business Efficiency As businesses in Singapore continue to adapt to the digital landscape, virtual corporate secretarial services are gaining traction as a crucial resource. These services not only streamline compliance and governance but also offer operational flexibility, making them particularly beneficial for dynamic entities like startups.

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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

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Strategic Finance: A Complete Guide for 2024

Nanonets

The past few years have been a toss-up for many businesses. Who could have predicted, in 2019, that a global pandemic would lead to record low interest rates and drive massive market gains before crashing down – then slowly returning to normal? In just five short years, enormous changes happened across business enterprises, and those unable to adapt failed.

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Guide to the Unique Benefits of Singapore’s ONE Pass

Counto

Guide to the Unique Benefits of Singapore’s ONE Pass The Overseas Networks and Expertise Pass (ONE Pass) is a strategic initiative by Singapore to attract world-class talents across various sectors. This guide delves into the eligibility, application process, and distinctive advantages of the ONE Pass, illustrating its role in bolstering Singapore’s status as a global business hub.

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Top Remote Accountants for Hire | May 2, 2024

accountingfly

Top Remote Accounting Candidates This Week Looking for remote accountants? Accountingfly can help! With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accountants with no upfront cost. These are just a few of our top candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

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Navigating the Foreign Account Tax Compliance Act (FATCA) in Singapore

Counto

Navigating the Foreign Account Tax Compliance Act (FATCA) in Singapore As a small business owner or entrepreneur, understanding global financial regulations like the Foreign Account Tax Compliance Act (FATCA) is crucial. Implemented in Singapore since December 9, 2014, FATCA requires financial institutions to report financial account details of U.S. persons to the Inland Revenue Authority of Singapore (IRAS).

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Should an Accountant Be Running Boeing?

Blake Oliver

Picture this: You're on a flight, and the person beside you starts a conversation. They find out you're an accountant and ask, "Hey, don't you think an accountant should be running Boeing? Who better to whip that company into shape than someone who knows their way around a balance sheet?" You could be sitting next to Michael O'Leary, the CEO of Ryanair.

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AI-Powered Content Management: Prioritizing What Matters

oAppsNet

In the dynamic landscape of digital information, integrating Artificial Intelligence (AI) into content management systems has ushered in a new era of efficiency and relevance. This exploration uses AI to classify emails and business files, shedding light on how intelligent content management prioritizes what truly matters. The Role of AI in Email Classification: A Contextual Approach 1.

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Spot rate definition

Accounting Tools

What is the Spot Rate? The spot rate is the current price at which a currency , security, or commodity can be acquired. This rate is most commonly available for items that are bought and sold through an organized exchange, where there are many willing buyers and sellers. In an active market, the spot rate may change frequently. The spot rate actually reflects the price at which the traded item will be delivered to the buyer, which may be one or more days in the future.

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Finally! A Tax Bill That Adds Up

Cloud Accounting Podcast

Blake and David examine the latest tax legislation traveling through Congress, including a new bill requiring the IRS to provide detailed explanations for math errors on tax returns. They also discuss the IRS's new direct file program, the banning of non-compete agreements, and the coolest profession around (spoiler alert: it's not accounting). Lastly, they touch on the concerning data breach at BerryDunn and the AICPA's efforts to rebrand the CPA to attract more young people to the field.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Purchase discounts lost definition

Accounting Tools

What is Purchase Discounts Lost? Purchase discounts lost is a general ledger account that contains the amounts a business did not save through its failure to take early payment discounts offered by suppliers. This information is aggregated for reporting to management, and is also used for subsequent analysis to improve the payment processing procedure.

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Sequential method definition

Accounting Tools

What is the Sequential Method? The sequential method is used to allocate the cost of service departments to other departments within an organization. Under this approach, the cost of each service department is allocated one department at a time. Thus, the cost of one service department is allocated out to all user departments, which may include other service departments.

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Service center definition

Accounting Tools

What is a Service Center? A service center is a department that provides services to other departments within a business. The costs of these departments may be charged to the using departments under the terms of an annual service agreement, so that all managers concerned can budget for the charges that will be billed. If the cost of a service center appears excessive to a using department, the manager of the using department may have the option of acquiring the service from a third party.

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Significant deficiency definition

Accounting Tools

What is a Significant Deficiency? A significant deficiency is a single weakness or a combination of weaknesses in the internal controls associated with financial reporting. This deficiency is less severe than a material control weakness and yet is sufficient to merit the scrutiny of those responsible for administering an entity's financial reporting.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.