Wed.Sep 25, 2024

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Is it time for accountants to integrate AI into their practices?

Accounting Today

Amid widespread adoption of traditional and generative forms of artificial intelligence, the looming question on the minds of many accountants is what diving deeper could mean.

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From Data Overload to Better Business Decisions: Optimize Your BP&F with Power BI and Excel

Acterys

Budgeting, planning, and forecasting (BP&F) is so much more than producing reports and spreadsheets — ‌it’s an essential part of the strategic decision-making process. That requires clear communication of complex financial data to decision makers across the organization, as well as seamless collaboration with cross-functional teams. Excel and Power BI are powerful, yet accessible tools to facilitate that communication, but even small mistakes with a dataset can become a major risk when integ

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NCCPAP approves new board

Accounting Today

The National Conference of CPA Practitioners finalized the new slate of officers and directors for the 2024-25 term.

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Hackers Say They Got Their Hands on Deloitte Intranet Communications

Going Concern

This made the fringe cybersecurity news a few days ago: Deloitte got hacked. Again. And in a tremendously noobish way. SecurityWeek reports : The hacker known as IntelBroker announced late last week on the BreachForums cybercrime forum the availability of “internal communications” obtained from Deloitte, specifically an internet-exposed Apache Solr server that was accessible with default credentials.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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FloQast rolls out unified platform for all solutions

Accounting Today

FloQast announced it has rolled its entire solution portfolio into the new Accounting Transformation Platform, and added a few new ones on top of that.

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More Trending

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Election Rout

Withum

I heard some election experts being interviewed, and they predicted that it is almost impossible for this election to end up with a President who will have both the Senate and House controlled by their party. Nothing is impossible! Right now, the majorities in the Senate and House are razor-thin. A strong showing by either presidential candidate can easily sweep a few Senators and into the winner’s circle.

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PCAOB Doles Out $165,000 in Total Fines to Five Audit Firms

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) handed out penalties to four accounting firms—one in the U.S., two in Canada, and one in Switzerland—on Sept. 24 for violating U.S. auditing rules and standards related to communications that firms are required to make to audit committees. In addition, the audit regulator sanctioned an additional U.S.

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FASB proposes hedge accounting standards update

Accounting Today

The proposed amendments would clarify guidance on hedge accounting and address issues that arose from the global reference rate reform initiative.

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AICPA & CIMA Launches Registered Apprenticeship for Accounting and Finance Associate Program

CPA Practice

A new program designed to enhance the accounting talent pipeline by offering an “earn and learn” opportunity at the entry level was unveiled on Sept. 25 by the AICPA & CIMA, which collectively form the Association of International Certified Professional Accountants. In the new Registered Apprenticeship for Accounting and Finance Associate program, apprentices will work directly for the participating organization and receive foundational and operational levels of CGMA Finance Leadership Progr

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Business Travel Expense Strategies for Everybody

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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IFRS publishes guide to ISSB standards

Accounting Today

The guide aims to help companies that are voluntarily applying ISSB standards and help them communicate their progress to investors.

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ProAdvisor 'Payroll' Survey Request

Insightful Accountant

Insightful Accountant wants your input on Payroll Apps/Solutions that you may use, refer to your clients, implement for your clients, or you are certified in. Please take 5 minutes to complete a very brief 3 question survey.

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The 3 Non-Negotiable Team Member Traits

Ryan Lazanis

Employee turnover is often caused by hiring people with the wrong traits. Discover the 3 traits I require in every team member we hire. The post The 3 Non-Negotiable Team Member Traits appeared first on Future Firm.

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We Want Top ProAdvisors to Tell Us About Yourself

Insightful Accountant

Our ProAdvisor Profile features are always a big hit, the problem is that too many of you are too shy, too self-conscious, or too busy to take the 3 or 4 minutes to fill out our profile survey. 'Find the time, and get over it' we want to know you.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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FloQast Debuts New Platform For Its Entire Solutions Portfolio

CPA Practice

Accounting software provider FloQast on Wednesday introduced its new Accounting Transformation Platform, which incorporates the Los Angeles-based company’s entire solutions suite, including FloQast Close, FloQast Compliance Management, and FloQast Ops. FloQast also unveiled new AI workflows to “deliver value throughout every step of the accounting journey,” the company said in a media release, including: Optimize the close Automate the close Connected compliance Integrated record-to-report In

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Changes Coming to Individual Estimated Tax Payments

Insightful Accountant

The current system of quarterly individual estimated tax payments poses significant challenges for taxpayers, particularly those in the gig economy. Recently, the California Lawyers Association Taxation Section proposed changes to the IRS to help.

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Did you know? California Independent Contractor Reporting Requirements Differ from the Federal Requirements!

LSLCPAs

The State of California has enhanced reporting requirements for independent contractor reporting as compared to the Federal requirements and many companies are not aware of this. The most significant differences are the reporting deadlines and the need to report based on contracts, not just actual payments made. This article summarizes the essential information you need.

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FASB Aims to Clarify Certain Aspects of Hedge Accounting Rules

CPA Practice

The Financial Accounting Standards Board (FASB) released an exposure draft on Sept. 25 on a proposal that would clarify parts of its current guidance on hedge accounting and address several incremental hedge accounting issues arising from the global reference rate reform initiative. In 2017, the FASB issued Accounting Standards Update No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , to “better portray the economic results of an entity

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Scaling Up a Startup’s Finance Team with the Right People at the Right Time

Shay CPA

Overhead is one of the fastest ways to increase your burn rate and shrink your runway. As a result, hiring the help you need usually feels like a major undertaking. You want to be sure you’re getting someone with the expertise you need so you can see ROI on their salary. At the same time, you want to make sure they’re a culture fit who’s bought into your startup’s mission.

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43% of Americans Have at Least One Unused Gift Card, Survey Finds

CPA Practice

By Katie Kelton Bankrate.com (TNS) If you’ve ever found a stray gift card in your car’s glove compartment or the recesses of your wallet, you’re in the company of more than 2 in 5 U.S. adults (43%) with an unused gift card, gift voucher or store credit. Those unused gift cards add up—to $244 per person on average, according to a new survey by Bankrate.

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Simplifying Financial Processes with Translucent | Michael Wood

Insightful Accountant

In this exciting episode of the Xerocon Accounting Insiders Podcast, we were joined by Michael Wood, founder of Translucent, who shared how his latest venture is revolutionizing financial processes.

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BILL Offers New Payment Capabilities For Accountants and SMBs

CPA Practice

BILL announced on Wednesday new payment offerings for small to midsized businesses and accountants, including a new international payment option, Local Transfer, as well as enhancements to Instant Payment and Invoice Financing. “SMBs are increasingly facing more complexity as they make payments to vendors, partners, and customers both locally and around the world,” Mary Kay Bowman, executive vice president, general manager of payments and financial services at BILL, said in a statement.

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Grow Big, Pay Smart: How To Unlock Efficiency In Payroll Management

Speaker: Joe Sharpe and James Carlson

Running a small business is no small feat. Payroll management, in particular, can be one of the most time-consuming and complex parts of that equation. Yet, businesses that crack the code on streamlining these processes often discover not just savings, but new avenues for growth. Our expert speakers will share actionable insights and real-world examples of how businesses have reduced overhead and improved payroll efficiency.

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Why Fraud Prevention is So Important (and how to get started!)

FraudFiles

Fraud is big business. Companies are at the greatest risk of fraud from their employees, since the employees have easy access to information and assets. We don’t know for sure how much fraud happens, but experts estimate that companies lose 5% of their revenues to employee fraud. At a company with annual sales of $100 [.

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How risky is risk?

Menzies

Menzies LLP - A leading chartered accountancy firm. “ Risk comes from not knowing what you’re doing.” Warren Buffett When setting up an investment, a key consideration is how much investment risk to take. But what is meant by risk? What initially seems to be a relatively straightforward topic quickly becomes more complex when considering the many definitions.

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CPE platform LumiQ gets PE investment

Accounting Today

Continuing professional education platform LumiQ has received a strategic investment from private equity firm Vertu Capital.

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Accountants Taking Strategic Lead on AI as Investment Ramps Up

Insightful Accountant

Human oversight and experience are as critical as technology in adopting AI in the finance function.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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U.S. investigating SAP, Carahsoft for possible price-fixing

Accounting Today

The investigation is covering sales of the German accounting software giant's solutions to U.S. government agencies.

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Cloud Storage for Businesses: Padgett & Padgett, PLLC CPA’s 7 Steps For Going Digital

SkagitCountyTaxServices

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How accounting firms can overcome the profit plateau

Accounting Today

Many accounting firms run up against the dreaded profit plateau for a simple reason: The owner is too involved.