Wed.Mar 20, 2024

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The worst of times: Issues in accounting in 2024

Accounting Today

Senior leaders from Accounting Today's Top 100 Firms and Regional Leaders share their biggest concerns for the year ahead.

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A Small Business Guide to Building Out a Chart of Accounts in QBO

Accounting Department

QuickBooks Online makes a chart of accounts accessible, but it's up to you to tailor it to your business's unique structure and financial tracking needs.

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PCAOB fines KPMG China partners $150K

Accounting Today

The Public Company Accounting Oversight Board imposed a total of $150,000 in fines against three partners at KPMG's firm in mainland China for violating PCAOB standards and imposed sanctions on them.

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Sage Introduces Fixed Assets Management for Intacct

Insightful Accountant

During this year's Sage Transform event, one of the big announcement was the incorporation of Fixed Asset Management into Intacct.

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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 With construction projects becoming more complex, outdated processes are no longer sustainable.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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Senators introduce bill to curb GRAT tax break

Accounting Today

A pair of lawmakers proposed a bill to end the abuse of grantor-retained annuity trusts to avoid taxes.

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Revolutionize with Microsoft 365 Copilot

Insightful Accountant

The introduction of Microsoft 365 Copilot, the powerful new AI assistant integrated across Microsoft's productivity apps, promises to transform the way professional firms operate, including accounting and tax practices.

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IRS Seeks to Hire Revenue Agents Nationwide

Insightful Accountant

Tax pros: With the IRS hiring thousands of revenue agents, the agency encourages members of the tax professional community to consider applying for one of the many career opportunities

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Organizations lost billions to fraudsters

Accounting Today

Companies lose an estimated 5% of their revenue each year due to fraud, according to a report from the Association of Certified Fraud Examiners.

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Keeping Rural Healthcare Afloat: Midwestern Financial Struggles

RevCycle

The idyllic landscapes and tight-knit communities of the Great Lakes region mask a growing concern – the financial struggles of rural healthcare. These facilities, often the sole source of medical care for miles around, face unique challenges in maintaining financial margins and collecting patient revenue. This article explores the financial struggles of rural healthcare in the Great Lakes region and proposes solutions, including implementing flexible payment policies, up-front collections, and

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UK tech tycoon called mastermind of 'massive fraud'

Accounting Today

Mike Lynch's Autonomy Corp.

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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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What My Firm’s Sales Process Looked Like

Future Firm

Having a sales process that gets the job done can be tough. In this episode, I explained what mine looks like and why I made it that way. The post What My Firm’s Sales Process Looked Like appeared first on Future Firm.

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A Simple Guide to Tax Workflow Automation (with Examples)

Jetpack Workflow

As you onboard more tax clients to grow your firm, generating higher top-line revenue can be exciting. However, realizing what this means for your team’s workload during the accounting year’s busiest season may be equally daunting. With each additional tax return, the incremental administrative tasks required can bog down your team’s productivity. When performed manually, these individual steps for preparing client tax returns can be prone to human error, tedious, and time-consuming, creating ev

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Cash vs Accrual Accounting: Which is Better? 

Counto

Cash vs Accrual Accounting: Which is Better? The choice between cash and accrual accounting can significantly impact how businesses manage their finances. Let’s delve into the differences, benefits, and downsides of each method. Cash Basis Accounting Cash basis accounting revolves around timing – recording revenue and expenses based on when money exchanges hands.

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Looking to Build Business Credit? Take Advantage of Net 30 Accounts to Get Started

Nanonets

Bank loans, investor funding, IPOs; if there’s one thing business leaders are familiar with, it’s the challenge of securing access to funds when their organization needs them most. The constant push and pull of spending enough money to make money, seeking out new capital sources, and taking advantage of smart debt financing are topics that sit at the forefront of most business conversations.

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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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Venmo, CashApp, and Zelle… OH MY! Why They Aren't Ideal Payment Solutions for Small Businesses

SMB Accounting and Consulting

In today's digital age, the convenience of instant money transfers has become a staple in our daily lives, thanks to platforms like Venmo, Cash App, and Zelle. While these apps excel in peer-to-peer transactions, they may fall short when it comes to meeting the needs of small businesses seeking reliable payment solutions. Despite their widespread popularity, these platforms pose limitations and risks that can significantly impact business operations and financial security.

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Cash flow to stockholders definition

Accounting Tools

What is Cash Flow to Stockholders? Cash flow to stockholders is the amount of cash that a company pays out to its shareholders. This amount is the cash dividends paid during a reporting period. Investors routinely compare the cash flow to stockholders to the total amount of cash flow generated by a business, to measure the potential for greater dividends in the future.

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Estimated liability definition

Accounting Tools

What is an Estimated Liability? An estimated liability is an obligation for which there is no definitive amount. Instead, the accountant must make an estimate based on the available data. This results in an accrued expense that appears within the current liabilities section of the balance sheet. Example of an Estimated Liability There are many types of estimated liabilities that you might experience.

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Accounting policies definition

Accounting Tools

What are Accounting Policies? Accounting policies are the rules used by an entity to ensure that transactions are recorded properly and financial statements produced correctly. These policies ensure that accounting activities are handled consistently over time. They are also needed to ensure that an organization follows the applicable accounting framework , such as GAAP or IFRS.

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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