Wed.Apr 17, 2024

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The IRS 2024 Dirty Dozen

Accounting Today

A phish, a mill and a stroll overseas are just three of the 12 major scams the Internal Revenue Service identified for this year's rogues gallery.

Tax 328
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So… what is carbon accounting?

Xero

Understanding the environmental impact of your business is critical in today’s business environment — and carbon accounting is a fundamental step in this process. With carbon accounting increasingly becoming another compliance measure mandated by regulators, businesses of all types and sizes need to get their emissions numbers in order. This is particularly true if you’re a small business that provides goods and services to a larger organisation.

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Students take a new path to 150 hours

Accounting Today

The first class members of the AICPA and NASBA's pilot Experience, Learn & Earn program are completing their inaugural semester.

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Check Processing Made Easy with Biller Genie Check Scanning

Accounting Department

Our friends at Biller Genie have announced a new software update that is packed with new features designed to streamline the check processing process and enhance the financial operations of businesses. This update introduces innovative features that will revolutionize how businesses manage paper checks and adapt to the future of accounting software integrations.

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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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Commitment to DEI is a leadership imperative

Accounting Today

Diverse teams and inclusive work environments produce better results.

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Why Accounting Firms Should Budget for Managed Security Services in [2024]

Ace Cloud Hosting

Data breaches are on the rise. According to Statista, data breaches impacted 353 million individuals in 2023. Hence, with the increasing cyber threat spectrum, cybersecurity has been a focus for.

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International Coverage: Mimo Lauches Platform to Simplify B2B Payments

Insightful Accountant

SMB Financial Management Platform Mimo Raises £15.5M and Launches Platform To Simplify B2B Payments. Mimo's financial suite enables businesses to easily manage money-in and money-out, and is already processing millions of pounds in payments for SMBs.

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The rise of the remote partner

Accounting Today

The process of becoming a remote partner isn't much different from the traditional path — but it may take a little extra effort.

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A Guide to New FWA Guidelines for Singapore SMEs from Dec 2024 

Counto

A Guide to New FWA Guidelines for Singapore SMEs from Dec 2024 Starting December 1, 2024, Singapore will see a significant shift towards supporting flexible work arrangements (FWAs), as mandated by the newly established Tripartite Guidelines. At Counto , we understand the intricacies these changes bring, particularly for SMEs, and are here to help you navigate through them effectively.

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Hedge fund founder on trial in £1.4B tax scam

Accounting Today

Cum-Ex was a tax-driven trading strategy in which bankers, lawyers and others exploited dividend payout laws across Europe to reap duplicate tax refunds.

Tax 189
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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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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Thomson Reuters Envisions Providing GenAI To Entire Customer Experience

Insightful Accountant

Thomson Reuters has just announced an expanded vision based on providing GenAI assistant for every professional it serves.

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Video summaries take center stage at tax time

Accounting Today

There are just three things clients want to know at tax time, and video summaries can provide the answers.

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The difference between direct and indirect labor

Accounting Tools

What is Direct Labor? Direct labor includes all labor that varies with production volume. This means the classification is generally limited to those people working on an assembly line or operating production machinery. What is Indirect Labor? Indirect labor is all types of support and supervisory labor, such as janitorial, maintenance, administrative, and management employees.

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Treasury cash balance hits 2-year high as tax payments rise

Accounting Today

Payments poured in at the government's mid-April deadline for income taxes.

Tax 222
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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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Life cycle costing definition

Accounting Tools

What is Life Cycle Costing? Life cycle costing is the process of compiling all costs that the owner or producer of an asset will incur over its lifespan. These costs include the initial investment , future additional investments, and annually recurring costs, minus any salvage value. Life cycle costing is more heavily used by businesses that place an emphasis on long-range planning, so that their multi-year profits are maximized.

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Uber raided in tax probe of Portuguese partners

Accounting Today

Food delivery fleets allegedly used false invoices that didn't match the services they provided.

Tax 189
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Profit maximization vs. wealth maximization

Accounting Tools

What is Profit Maximization? Profit maximization is the process by which a business arranges its prices and cost structure to achieve the highest possible profit. The central goal of the organization is to increase its profits. This is a short-term goal, since profits can be maximized to the detriment of customers, who may become annoyed at excessively high pricing, and take their business elsewhere over the long term.

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Artificial Intelligence: AI Demystified

Oversight

So, what IS this thing called ‘AI’? That’s an intelligent question nobody should be afraid to ask. Here’s a reasonable working definition to start off with: ‘AI is the ability of a computer or machine to do what previously only humans could do.’ After all, machines have been doing stuff we can do - walking, running, hauling, writing, for centuries. But better.

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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.

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BigQuery Data Canvas: The Next Big Thing In Data Analytics

Economize

Introduction to BigQuery Data Canvas BigQuery Data Canvas, introduced at Google Cloud Next ’24, marks a significant advancement in the field of data analytics. This innovative platform redefines how data professionals interact with and analyze data by integrating a natural language-driven user experience into Google Cloud’s robust data analytics suite.

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Important Tips for Financial Management in a Business

Invoicera

Introduction We hope that you know the importance of finance in business! “A study by the U.S. Small Business Administration says 82% of businesses fail due to poor cash flow management or a lack of financial understanding.” This startling statistic underscores just how critical financial management is to a business’s growth and survival. Finance is a key to a business’s growth.

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The 4 Goals of Your Discovery Calls

Future Firm

Discovery calls are set up with potential clients to assess and secure new business. Find out how to get maximum leverage from these calls. The post The 4 Goals of Your Discovery Calls appeared first on Future Firm.

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Mastering Remote Employee Onboarding: A Strategic Guide for SMEs

Counto

Mastering Remote Employee Onboarding: A Strategic Guide for SMEs Remote work has transformed how we onboard new employees, making it essential for businesses, especially SMEs, to adapt their onboarding processes effectively. At Counto , we’re committed to helping small businesses thrive by equipping them with the strategies needed for successful remote employee integration.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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Seeking an Accounting Manager

Reconciled Solutions

Seeking an accounting manager to help our clients gain visibility and clarity to their financials and run a sustainable business. The post Seeking an Accounting Manager appeared first on Reconciled Solutions.

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Understanding Bank Reconciliation Journal Entries

Nanonets

Introduction to Bank Reconciliation Journal Entries Bank reconciliation is an important process in accounting that ensures the accuracy and integrity of a company's financial records. It involves the comparison between the company’s internal financial records and those of the bank. At the heart of this reconciliation lies the creation of journal entries, which serve to align discrepancies between the company's books and the bank statement.

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Building QuickBooks Online Habits: 5 Things You Should Do When You Log In

Reconciled Solutions

Not all habits are bad. Here are five good QuickBooks Online habits you should develop during each work session. The post Building QuickBooks Online Habits: 5 Things You Should Do When You Log In appeared first on Reconciled Solutions.

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Top Alternatives to Quickbooks in 2024

Nanonets

QuickBooks is one of today’s top accounting and bookkeeping platforms, and its reputation is well-deserved. Dominant across multiple industries and popular with most business sizes, from freelance solopreneurs to enterprise megaliths, QuickBooks covers most common accounting bases and is a well-rounded, general-purpose tool that legions of clients and fans enjoy.

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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Choosing Between AWS, Azure, and Google Cloud

finout

When it comes to selecting a cloud computing platform, businesses are faced with several powerful options, each with its own unique advantages and capabilities. Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) are three of the major players in this space. The choice among them should align with your specific needs such as scalability, integration capabilities, and the level of technical support required.

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Second-order revenue definition

Accounting Tools

What is Second-Order Revenue? Second-order revenue is sales that are indirectly generated by an initial customer purchase. This revenue can come from a variety of activities, such as customer referrals, repeat purchases from original customers, or even customers changing employers and buying the product again at their new employer. These sales differ from first-order revenue, which is derived from initial sales to customers.

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Biden mocks Trump Media share drop in broadside over tax plan

Accounting Today

Biden's comments, timed to follow Tax Day, sought to highlight differences between his tax and economic agenda and Trump's.

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Wasting asset definition

Accounting Tools

What is a Wasting Asset? A wasting asset is any asset that will decrease in value over time, and which has a specific useful life. The concept can be applied to fixed assets and natural resources, but is sometimes also applied to certain financial instruments. In most cases, a decline in value is reflected in a reporting entity’s accounting records by an ongoing depreciation or depletion charge.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.