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In today's fast-paced business environment, numbers alone won't cut it. It's about transforming those numbers into meaningful insights that can guide strategic decisions and drive growth. Financial analytics offers medium-sized businesses a powerful tool to convert raw data into actionable strategies, giving them a competitive edge. Let's explore how leveraging financial analytics can revolutionize business operations , improve decision-making, and enhance overall efficiency.
Financial management is particularly vital for small businesses since 61% rely on personal savings to meet their funding needs. The above statistics clearly depict how much of a requirement there is for financial management tools. Additionally, with the average loan under the SBA’s 7(a) program being approximately $479,685 in 2023, having robust financial management systems becomes crucial for businesses to handle loans effectively and avoid financial pitfalls.
The PCAOB will be able to address situations in which a registered firm has ceased to exist, is nonoperational, or no longer wishes to remain registered.
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Whether your firm is undergoing personnel changes or you need to restructure your team for better alignment with your business objectives, there may come a time when you need to re-assign a client to a new accountant. While the client may not notice much difference with the change, communicating the details of this transition clearly and professionally is essential so they dont feel left in the dark.
Have you noti ced inefficiencies in your accounts payable (AP) department ? It might be time for a change. Identifying signs like frequent errors, late payments , or audit challenges can highlight the need for automation. In this post, well explore key indicators that signal its time to streamline your AP workflow and boost efficiency with automation.
Have you noti ced inefficiencies in your accounts payable (AP) department ? It might be time for a change. Identifying signs like frequent errors, late payments , or audit challenges can highlight the need for automation. In this post, well explore key indicators that signal its time to streamline your AP workflow and boost efficiency with automation.
Maintaining robust financial health is a top priority for companies of all sizes in today’s fast-paced business environment. One of the most critical aspects of economic vitality is efficiently managing the invoice-to-cash (I2C) process. This process encompasses everything from issuing invoices to receiving payments and directly influences cash flow, profitability, and overall business performance.
The Justice Department filed an emergency request with the U.S. Supreme Court, asking it to lift the injunction on the beneficial ownership information reporting requirement under the Corporate Transparency Act after a federal appeals court reversed itself on the injunction last week.
The enforcement status of the CTA continues to shift following recent Fifth Circuit decisions. After initially granting the emergency motion to stay a nationwide injunction on December 23, the Fifth Circuit's merits panel reversed course.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
At the beginning of each year (January 1), you need to record your odometer reading. This figure becomes the last entry for your prior year log. It's a good idea to diarize this date so you don't forget.
Top Remote Candidates This Week Are you in need of remote accountants? Accountingfly can assist you! Our ‘ Always-On Recruiting ‘ program allows you to connect with highly skilled and experienced remote accounting candidates without any upfront costs. Here are some of this week’s top remote tax and accounting candidates. Sign up now to receive the full list of available top accounting candidates on a weekly basis!
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Managing payments and transaction records for your business seems easy enough, right? After all, if youre not doing it the business probably wont survive. But as businesses grow and cash flow increases, its harder for accounting teams to keep up. Manual spreadsheets can lead to errors. Detecting and preventing fraudulent payments to maintain compliance gets harder too.
A generation of CPAs is at or near retirement age, and the number of new accounting professionals entering the field won't be enough to keep up with future needs.
Is your company losing 5% of revenue to expense fraud? A study by the Association of Certified Fraud Examiners (ACFE) says that organizations typically lose about 5% of annual revenue to fraud, much of it from questionable expense reports. On a recent episode of The Accounting Podcast , I shared some recent examples from The Wall Street Journal that highlight how creative employees can get: family gifts, vacations, even an RV charged to the company card.
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Murph summarizes the advantages of sound supply chain planning and procurement management if your business involves production/manufacturing or wholesale/retail sales. He overviews these capabilities within Oracle NetSuite.
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In this Tech Stack series with Kellie Parks CPB, we will cover the essential technology for building a harmonious onboarding experience that sets the stage for respectful, professional client relationships with your firm.
Financial management is particularly vital for small businesses since 61% rely on personal savings to meet their funding needs. The above statistics clearly depict how much of a requirement there is for financial management tools. Additionally, with the average loan under the SBA’s 7(a) program being approximately $479,685 in 2023, having robust financial management systems becomes crucial for businesses to handle loans effectively and avoid financial pitfalls.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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Workplace Bullying Definition & Overview The definition of workplace bullying is any constant and repeated harassment or offensive actions toward another employee. Bullying goes beyond simple disagreements between coworkers; it is damaging behavior through intimidation, humiliation, or exclusion. This negative environment not only affects individual well-being but also undermines team dynamics and productivity.
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