Mon.Feb 12, 2024

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Tax extenders bill stalled

Accounting Today

The tax extenders legislation is still tied up in the Senate after being passed in the House as senators are still seeking changes in some of the provisions, such as the expanded Child Tax Credit.

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Examples of operating expenses

Accounting Tools

What are Operating Expenses? Operating expenses are those expenditures that a business incurs to engage in activities not directly associated with the production of goods or services. These expenditures are the same as selling, general and administrative expenses. Examples of operating expenses include the following: Examples of Compensation-Related Operating Expenses Compensation and related payroll tax expenses for non-production employees Sales commissions (though this could be interpreted as

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IRS didn't remove contractors' access to sensitive information

Accounting Today

Hundreds of Internal Revenue Service employees and contractors continued to have access to at least one sensitive IRS computer system even after they stopped working there.

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Types of assets

Accounting Tools

What are Assets? An asset is an expenditure that has utility through multiple future accounting periods. If an expenditure does not have such utility, it is instead considered an expense. The two main types of assets are current assets and non-current assets. These classifications are used to aggregate assets into different blocks on the balance sheet , so that one can discern the relative liquidity of the assets of an organization.

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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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EY borrowed about $700M more on failed spinoff costs

Accounting Today

Current loans at EYGS LLP — the entity that provides services to the network's member firms — more than tripled from a year earlier to $983 million as of June 30, 2023.

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AWS EC2 Pricing + 5 Cost Optimization Strategies

Economize

EC2 (Elastic Compute Cloud) is a web service from AWS that provides scalable computing capacity in the cloud. With EC2 instances, AWS aims to eliminate the complexities of purchasing and maintaining your own hardware for your computing requirements. AWS provides Amazon Machine Images (AMIs) which act as a template for your EC2 instances.

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Do Accounting Services Offer Job Costing?

CSI Accounting & Payroll

Only a few industries – like construction and engineering – hunt for job costing services. However, is that level of detail actually useful in the long run, and are they able to find job costing through accounting services? At CSI Accounting & Payroll, we’ve worked with small businesses for over 50 years. We’ve spoken to a lot of construction and engineering company owners who want to know: Do accounting services offer job costing?

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Majority of companies admit to material mistakes on indirect tax

Accounting Today

Tax software provider Vertex found a strong majority of companies have made material mistakes on indirect tax compliance, as few identify as risk averse.

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Ben Richmond on Exploring Xero's Latest Updates & Top Features

Insightful Accountant

Welcome to our latest episode! Join Gary and Ben as they dive into the world of accounting and technology. In this engaging discussion, they cover everything from the most recent product updates to the importance of people in the industry.

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6 states with corporate income tax changes for 2024

Accounting Today

Corporations will be the beneficiaries of a reduction in the top marginal rate in all six states.

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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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How To Strategically Raise Prices In 2024

Invoicera

With rapid economic shifts, this year may be ideal for reevaluating your pricing strategy. Determining when and how to increase your rates can be daunting as a business owner. You likely already have an established pricing structure but may be unsure how high to raise prices to boost revenue without losing customers. This dilemma leaves many entrepreneurs stuck in analysis paralysis.

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Art of Accounting: Being known

Accounting Today

Being active in the community and CPA societies pays high dividends with new business referrals, in addition to friendships and collaboration opportunities that arise.

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Financial Strategy and Long-Term Planning with CFO Advisory Services

Analytix Finance & Accounting

Financial strategy and long-term planning, with the assistance of a chief financial officer (CFO) advisory services, can help businesses shape their financial health and success. Both, financial strategy and long-term planning, provide the necessary guidance to optimize financial performance, ensure long-term sustainability, and foster growth in a dynamic and competitive environment.

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What is Know Your Customer (KYC) for Company Incorporation?

Counto

What is Know Your Customer (KYC) for Company Incorporation? Singapore’s thriving business landscape has made it a magnet for entrepreneurs and investors worldwide. However, with the ease of setting up businesses comes the risk of illicit activities like money laundering and fraudulent transactions. To counter these risks, Singapore has implemented stringent Know Your Customer (KYC) regulations for company incorporation.

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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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What is the Role of AI in Lending and Loan Management?

Nanonets

In the age of relentless technological advancement, artificial intelligence has emerged as the unsung hero, revolutionizing industries one algorithm at a time. Among the sectors witnessing a seismic shift, the lending and loan management world stands at the forefront of this AI-powered evolution. As traditional financial models strain under the weight of data and the demand for rapid, personalized decisions, artificial intelligence emerges as the beacon of innovation, reshaping the landscape wit

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9 Common Mistakes to Avoid During Company Incorporation in Singapore

Counto

9 Common Mistakes to Avoid During Company Incorporation in Singapore In the bustling business landscape of Singapore, company incorporation is a strategic move for entrepreneurs seeking to establish a foothold in the region’s vibrant economy. However, navigating the incorporation process requires careful planning and attention to detail to avoid potential pitfalls that could hinder business success.

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Top 10 Construction OCR Software in 2024

Nanonets

Optical character recognition (OCR) software help convert non-editable document formats such as PDFs, images, or paper documents into machine-readable formats that are editable & searchable. OCR applications are commonly used to capture text from PDFs & images and convert the text into editable formats such as Word, Excel, or a plain text file.

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Why You Need a Registered Office Address in Singapore

Counto

Why You Need a Registered Business Address in Singapore When you register your company in Singapore, one aspect holds significant weight: your company’s registered office address. Let’s delve into why having one is indispensable for your new company’s compliance. 1. Compliance with ACRA The Accounting and Corporate Regulatory Authority (ACRA) sets forth stringent criteria regarding registered office addresses.

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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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Credit Card Reconciliation

Tipalti

Explore the intricacies of credit card reconciliation as it becomes a more popular form of managing internal business spend. Learn about the challenges and best practices.

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Setting Up a Register of Registrable Controllers (RORC)

Counto

Setting Up a Register of Registrable Controllers (RORC) In Singapore, corporate entities, including local and foreign companies, and limited liability partnerships (LLPs), are mandated to maintain a Register of Registrable Controllers (RORC). This register serves as a repository for updating and managing details of beneficial owners, aiming to enhance transparency and combat illicit activities such as money laundering and terrorist financing.

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QuickBooks Solution Provider Program – All You Need to Know

Ace Cloud Hosting

QuickBooks is excellent accounting software designed for small-to-medium-sized businesses.

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How to Strike Off a Singapore Company

Counto

How to Strike Off a Singapore Company Striking off a company in Singapore involves a structured process governed by the Accounting and Corporate Regulatory Authority (ACRA). Under section 344 of the Singapore Companies Act, a company may apply to strike off its name from the register, subject to certain conditions and reasonable causes. Singapore Company Liquidation Requirements Before initiating the striking off procedure, companies must ensure they meet specific criteria set by ACRA: Ceased or

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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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Supplier Scorecard

Tipalti

Uncover the importance of supplier scorecards in optimizing your business relationships. Elevate your supplier management strategy for enhanced efficiency and success.

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10 Questions To Ask When Outsourcing Payroll Services

Counto

10 Questions To Ask When Outsourcing Payroll Services Employee payroll is one of the top functions that companies look to outsource because it goes a long way in establishing a successful business. There are many service providers out there, but ask yourself the following questions when outsourcing your payroll. Q1. What do Payroll Services Work? A: Outsourcing payroll services involve entrusting the management of payroll tasks to a third-party firm.

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Profit squeeze definition

Accounting Tools

What is a Profit Squeeze? A profit squeeze is a decline in earnings over a period of time. A profit squeeze can damage a firm severely, so management needs to anticipate its underlying causes and shift the business into a different market segment or geographic area, or adopt some other innovation that allows the firm to continue earning its accustomed profit.

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Invoice Scanning Software

Tipalti

Efficiency meets accuracy: unlock insights into the top invoice scanning software solutions that streamline your invoicing process. Simplify and succeed.

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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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Wear and tear definition

Accounting Tools

What is Wear and Tear? Wear and tear is the normal degradation of an asset from ongoing usage, even when it is being properly maintained. Wear and tear gradually reduces the value of an asset. Wear and tear is not caused by unusual levels of neglect or abuse; when these conditions are present, an asset can be expected to decline in value at a much faster rate than normal.

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Fintech founder wants more financial advisors to consider taxes

Accounting Today

Bill Harris, the former CEO of Personal Capital, TurboTax and PayPal published a new edition of his "Investment Tax Guide" with the future of the industry in mind.

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Credit sweep definition

Accounting Tools

What is a Credit Sweep? A credit sweep is an arrangement between a business and its bank, where the bank automatically uses all excess funds in a deposit account to reduce the firm's outstanding line of credit. The amount of cash swept out of the deposit account is based on a threshold level that the business wants to maintain in the account; all funds above this baseline amount are used to pay down the debt.

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Price war definition

Accounting Tools

What is a Price War? A price war is a situation in which competitors attempt to take market share from each other by reducing their prices. Eventually, the losses triggered by the price reductions cause one or more competitors to leave the market or declare bankruptcy , thereby allowing the reduced number of remaining competitors to raise their prices and reap larger profits over the long term.

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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.