Mon.Nov 25, 2024

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Generative AI will upgrade you, not replace you: KPMG

Accounting Today

KPMG research has found gen AI has a 3-17% EBITDA impact, but this is no reason to replace human accountants.

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Mastering B2B Payment Negotiation Strategies for New Business Owners

Enterprise Recovery

One of the most challenging parts of starting a business or working independently is deciding on your rates. After that, you must negotiate contract terms with your clients, including asking to get paid for your work. Navigating the complex world of B2B payments can be daunting for business owners, but mastering effective negotiation strategies can ensure you always get paid for your hard work.

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IRS plans National Tax Security Awareness Week

Accounting Today

The Internal Revenue Service and its partners in the public and private sectors are planning to highlight the importance of cybersecurity next week.

Tax 262
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Data Exports for FOCUS 1.0 is now in general availability

AWS FinOps

Today AWS announced the general availability release of Data Exports for FOCUS 1.0. You can now create exports of your AWS cost and usage data with the FOCUS 1.0 schema with significant specification conformance improvements compared to the public preview released in June 2024. FOCUS (FinOps Open Cost and Usage Standard), supported by the FinOps Foundation, is an open-source cloud cost and usage specification that provides standardization to normalize cost and usage data and simplify cloud finan

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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AI costs go beyond AI systems themselves

Accounting Today

Developing an AI system can carry a hefty price tag that includes not just the coding of the system itself but secondary costs like labor, training and data fees.

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What is a Vendor Portal and Does Your Business Need One?  

AvidXchange

A vendor portal is an online platform where suppliers interact with a company’s procurement and finance teams. Also known as a supplier hub, having one can help your company streamline tasks like order management, invoice submission, and payment tracking. By centralizing communication, a vendor portal is designed to enhance efficiency, improve transparency, and reduce manual errors, fostering strong supplier relationships and accelerating the payment process.

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More Trending

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8 Beautiful CFO Dashboards that Will Make Your Life Easier

finout

What Is a CFO Dashboard? CFOs in modern organizations face numerous challenges, including managing increasing volumes of data, balancing short-term financial health with long-term strategic goals, and responding swiftly to market changes. The complexity of global operations, regulatory requirements, and the demand for detailed financial reporting add layers of difficulty to their role.

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Macy's delays earnings after worker hid millions in expenses

Accounting Today

An employee "intentionally" made erroneous accounting accrual entries to hide about $132 million to $154 million of cumulative delivery expenses stretching over multiple years.

Accruals 189
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Tax vs Audit: What’s the difference

Black Ink Tax & Accounting

Table of Contents Tax vs Audit: What’s the difference Tax and audit are two terms that have left a lot […] The post Tax vs Audit: What’s the difference appeared first on bitaccounting.

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Art of Accounting: An idea from a Chinese takeout menu

Accounting Today

What would happen if CPAs offered clients a list of suggested services for a fixed fee?

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Tax vs Audit: What’s the difference

Black Ink Tax & Accounting

Table of Contents Tax vs Audit: What’s the difference Tax and audit are two terms that have left a lot […]

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GASB proposes standard on subsequent events

Accounting Today

The Governmental Accounting Standards Board issued an exposure draft on how to account for transactions that occur after the date of the financial statements.

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Tax vs Audit: What’s the difference

Black Ink Tax & Accounting

Table of Contents Tax vs Audit: What’s the difference Tax and audit are two terms that have left a lot […]

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Grant Thornton lays off about 150 workers in U.S.

Accounting Today

The layoffs span the accounting firm's advisory, tax and audit businesses.

Auditing 147
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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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What Drives the Monthly Accounting Industry’s Costs Up & Down?

CSI Accounting & Payroll

When you’re shopping for a monthly accounting partner, you’re looking at a fairly niche industry.

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FASB reviews impact of revenue recognition standard

Accounting Today

The Financial Accounting Standards Board released a post-implementation review of its rev rec standard a decade after its implementation.

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Driving Year-End Efficiency in Tax Practices: A Manager's Guide

Insightful Accountant

As tax season approaches, tax practices face increasing pressure to optimize operations while maintaining service quality. Forward-thinking managers and owners should focus on key efficiency drivers.

Tax 52
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Nov 25, Is QuickBooks Being Discontinued?

Bookkeeping Essentials

Intuit decided that after July 31, 2024, they will no longer sell NEW subscriptions to certain products in the U.S. Starting April 15, 2025, this will also apply to NEW Canadian desktop subscribers. Learn which products are affected.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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More About the Top ProAdvisor Awards Process

Insightful Accountant

We strive to provide you with key information about how the ProAdvisor Awards process works and what it takes to reach your goal of 'making' the list, or 'earning' a categorical award' or being 'recognized' as ProAdvisor of the Year.

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Build Your Own OCR Engine for Wingdings

Nanonets

Optical Character Recognition ( OCR ) has revolutionized the way we interact with textual data in real life, enabling machines to read and interpret text from images, scanned documents, and handwritten notes. From digitizing books and automating data entry to real-time text translation in augmented reality, OCR applications are incredibly diverse and impactful.

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Top Payoneer Competitors for Mass Payouts

Tipalti

Explore top alternatives to Payoneer for mass payouts, featuring options with robust AP automation, global reach, and flexible payment methods.

AP 40
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We’ve updated our responsible data use commitments

Xero

We use data to create innovative products and features for our customers. These help small businesses save time and make better decisions, and give advisors the information they need to help their clients thrive. Data is critical to innovation, and the opportunities to put it to work for the benefit of our customers are exciting. With these opportunities, comes an obligation to use data responsibly, which we take very seriously.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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What Is Employee Relations? Small Business Guide

Fit Small Business

Overview of Employee Relations As a subset of human resources, employee relations are the interactions between employers and employees. They are not merely transactional, but reflect the company’s values, commitment to its workforce, and capacity for an inclusive environment. Employee relations professionals work to ensure employees feel heard and valued, resolve grievances, and improve overall.

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Trump nominates hedge fund chief Bessent to lead Treasury

Accounting Today

Scott Bessent is expected to play a key role in pushing for a renewal of Trump's 2017 tax cuts through Congress, many of which are set to expire at the end of 2025.

Tax 246
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5 Best Restaurant CRM Platforms

Fit Small Business

Between front-of-house operations, guest reservations, and tips, it’s challenging to operate a restaurant with standard CRM software. As a result, most opt for a restaurant CRM that handles their specialized needs while providing an accessible and easy-to-use platform for managing daily customer interactions. Thankfully, we’ve done the hard work by reviewing the best restaurant CRM.

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California pledges EV rebate if Trump kills tax credit

Accounting Today

California Governor Gavin Newsom is promising to step in with a state electric-car tax credit if Trump repeals a federal subsidy after he takes office.

Tax 100
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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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DOGE Goes After TurboTax & Remote Work

Cloud Accounting Podcast

Blake and David discuss Trump's proposed Department of Government Efficiency (DOGE) and its potential impact on tax filing and federal remote work policies. They analyze the Pentagon's seventh consecutive failed audit and examine Intuit's ambitious plans to expand its enterprise offerings. The duo also explores a groundbreaking study showing ChatGPT-4 outperforming human doctors in medical diagnoses, highlighting AI's growing capabilities in professional decision-making.

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TCJA extensions or revisions: What lies ahead for 2025

Accounting Today

With Republican control of Congress, Donald Trump will have a greater chance of success in renewing parts of his 2017 Tax Cuts and Jobs Act.

Tax 306