Sat.May 04, 2024 - Fri.May 10, 2024

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How to Calculate Total Revenue in Accounting [With Examples]

Patriot Software

Keeping an eye on your business’s finances is oh-so-important if you want your company to thrive and grow. This includes monitoring your financial statements and calculating financial figures, such as total revenue. Get the lowdown on how to calculate total revenue and ways to use it to benefit your business. What is total revenue?

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Making the (use) case for AI

Accounting Today

Accounting firms that have embraced artificial intelligence are primarily using it to analyze documents, automate tasks and bolster client communication.

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4 Accounting Transactions that Use Journal Entries and How to Enter them in QBO

Ronika Khanna CPA,CA

Accounting software has come a long way in the past few years. Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax. When using accounting software such as Quickbooks Online , the majority of transactions relate to invoicing customers, supplier bills and categorizing expenses that ha

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Real Accounts: What to Know About These Permanent Accounts

Patriot Software

In accounting, you deal with a variety of accounts to balance and organize your books. One type of account you will likely run into is a real account. But, what are real accounts exactly? And, how does it differ from other accounts in accounting?

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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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Getting to Know QuickBooks Desktop Alternatives

Insightful Accountant

During the upcoming Insightful Accountant Future Forward Event Murph will be presenting two sessions on Migrating from QuickBooks Desktop. One focuses on apps suitable for QBD Pro users, and the other QBD Premier users.

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6 ways to use AI in your firm

Accounting Today

They say artificial intelligence will change the world, and in many ways, it already has. But AI's rapid advancements have been a source of stress for professionals like accountants. Will you be automated out of a job?

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Decoding carbon accounting

Accounting Today

It's crucial to understand the significant impact businesses have on the environment — and accounting for carbon emissions is a fundamental step in this process.

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51 Accounting Scholarships Awarded by MassCPAs

CPA Practice

The Massachusetts Society of Certified Public Accountants (MassCPAs) is proud to announce its investment in the future of accounting by awarding $182,500 in scholarships to 51 outstanding students across the state. These scholarships, presented through the MassCPAs Educational Foundation Scholarship Program, recognize exceptional academic performance and commitment to the accounting profession.

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Types of Audits: Breaking Down 9 Different Audits

Patriot Software

As a small business owner, you need to conduct regular audits to ensure your records are accurate. Although many business owners dislike the idea of auditing, audits can be beneficial to your company. Learn more about the different types of audit below.

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Sales Tax Updates: What’s new in sales tax for April?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Leveling the field. A bill that would raise the online sales tax in Alabama is progressing with state lawmakers. The current Alabama sales tax is 8% for online purchases, the same as for purchases at the state’s brick-and-mortar stores.

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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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Protect Your Startup’s Finances: 12 Proactive Risk Management Tips

BurklandAssociates

Mitigate financial risks at your startup and help ensure a smooth path towards sustainable growth and long-term success with these tips. The post Protect Your Startup’s Finances: 12 Proactive Risk Management Tips appeared first on Burkland.

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After five years in an accounting career, what's next?

Accounting Today

Here are some suggestions to help you take your job, your career — and our profession — to the next level.

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Get AI-Powered Planning Insights With ChatGPT and Copilot for Power BI

Acterys

Business teams have long known that traditional extended planning and analysis (xP&A) can be time-consuming, especially for those seeking insights without IT support. But thanks to technologies like ChatGPT and Copilot for Power BI, businesses now have the opportunity to leverage conversational and generative AI to access new insights and analyze data faster and more accurately than ever before.

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IRS Chief: $400 Million in ERC Claims Have Been Withdrawn

CPA Practice

During testimony before a House Appropriations subcommittee on May 7, IRS Commissioner Danny Werfel said almost $400 million in unpaid employee retention credit (ERC) claims have been withdrawn by taxpayers since the agency put a moratorium on processing new claims last September. In addition, Werfel told lawmakers on the panel that the IRS has received $777 million from businesses that voluntarily returned the tax credit after being found ineligible.

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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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Note to Partners: Make Sure Your Interns and Associates Know How to Avoid Sus Links and Phishing

Going Concern

Remember the Deloitte survey a while back that found Gen Zers were more than twice as likely as boomers to have their social media account hacked * (17% vs. 8%) and three times more likely than boomers to fall for an online scam (16% vs. 5%)? A refresher: Deloitte Survey Finds Zoomers Are 3x More Likely to Fall For Scams Than Boomers So Why Don’t More of Them Work at Deloitte Today EY released the results of its 2024 Human Risk in Cybersecurity Survey and Gen Z workers who use work-issued

Education 119
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SEC climate rule has wide implications

Accounting Today

The SEC's guidance is a part of a much broader movement as the U.S. strives to catch up with Europe.

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Next Generation FP&A with Acterys: 5 takeaways from the Workshop

Acterys

Acterys’ esteemed Italian partner, Bi Factory , recently hosted the “Next Generation FP&A” workshop on April 11, 2024. This event was specifically arranged for Italian organizations aiming to refine their planning and analytics processes. Featuring profound insights from industry experts at Bi Factory, including Franco Perduca (CEO and CTO), Sara Bozzo (CEO and Team Lead), and Walter Gabetta (Head of Global Business Relationship), the workshop attracted numerous companies a

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How CPAs Are Evolving Into Strategic Advisors

CPA Practice

By Dr. Sangeeta Chhabra There is no question about how CPAs have evolved in their role over the past couple of decades, but what has really been behind it and, more importantly, how do you they get there? As the business world sees a paradigm shift in the form of technological innovations, global operations, and government regulations, traditional roles and responsibilities of professionals are evolving for the better.

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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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Understanding the FAQs Related to Overhead Rate Audits for Growing A&E Firms

Cherry Bekaert

For many architecture and engineering (A&E) firms, overhead rate audits are a critical aspect of financial management since they can be a great way for firms to recoup incurred costs necessary to run their business from the government. An overhead rate, also known as an indirect rate, is the percentage of indirect costs that are allocated to a contract or project.

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Generative AI may let tax pros charge more

Accounting Today

A recent survey has found that 40% of tax professionals believe generative AI will allow them to demand higher rates, in comparison to 6% who said rates will decrease.

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Let’s Brainstorm Shopping Ideas For Underwear Strong Enough to Accommodate This PwC CEO’s Massive Balls

Going Concern

It’s been a little over a year since Australian Financial Review uncovered a scandal when it peered underneath the rug PwC Australia was trying to hide its dirty business under, a scandal that saw a trusted partner using his position on a government tax panel to monetize confidential information that clients could use to get ahead of an upcoming change in tax law.

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IRS Increases HSA Contribution Limits for 2025

CPA Practice

Beginning in January, you’ll be able to contribute more to your health savings account (HSA), as the IRS released its annual inflation adjustments for HSA owners on May 9. For calendar year 2025, the annual contribution limit for an individual with self-only coverage under a high-deductible health plan (HDHP) will be $4,300. For an individual with family coverage, the amount will be $8,550.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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Virginia Pass-Through Entity Tax Updates

Cherry Bekaert

In the most recent episode of Cherry Bekaert’s Tax Services podcast, we focus on the Virginia pass-through entity tax (PTET) election. Join Cathie Shaw , partner at Cherry Bekaert, and Tony Konkol , State and Local Tax Manager, as they navigate the intricacies of this important topic. The Virginia PTET election is a crucial consideration for businesses operating in the state.

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AI's critical role in enhancing cybersecurity

Accounting Today

Among the concerns of using AI in accounting are the potential risks to the security and privacy of data.

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Insightful Accountant's Top 50 International ProAdvisors for 2024

Insightful Accountant

Insightful Accountant is proud to announce our Top 50 International ProAdvisors for 2024. Congratulations to this year's International award recipients.

Account 111
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Doing More With Less While Improving Data Quality and Implementing Real-Time Analytics for Finance Teams

CPA Practice

By Josh Schauer. The finance industry is undergoing an incredible transformation this year as it continues to face expanding regulations, ongoing AI dilemmas, and complex markets. In fact, 70% of finance decision-makers feel pressure from market factors like inflation and economic disruption. Finance teams are forced to do more with stretched resources and staffing shortages, and as a result, organizations of all sizes are specifically overwhelmed with data and struggling with how to manage it e

Finance 119
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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Imagine the Chaos If the PCAOB Starts Naming and Shaming Audit Deficiency Clients

Going Concern

In its desperate quest to appear as though it does something of value to capital markets, the PCAOB is considering putting company names to inspection report deficiencies according to a recent story by Wall Street Journal. Currently, the PCAOB refers to clients as Issuer A, B, C etc. and includes only the client’s industry. Here’s an example from KPMG’s sketchy 2022 PCAOB inspection report : A Part IA deficiency like the one in the screenshot above is of such significance that

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IRS adjusts HSA amounts for inflation in 2025

Accounting Today

The Internal Revenue Service issued the annual inflation adjustments for health savings accounts in 2025 as prices continue to rise.

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"Thank You" Intuit Trainer/Writer Network Members

Insightful Accountant

While Intuit has sunset the Trainer/Writer network and gone back to the drawing board on how to provide training and education for the QuickBooks Community, Insightful Accountant wants to thank all Trainer/Writer Network members.

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AI Spurs Rise in Cybersecurity Among U.S. Workers

CPA Practice

Widespread concerns are growing among U.S. employees about escalating cybersecurity threats in the workplace, with 53% worried their organization will be the target of a cyber attack and a third (34%) worried that they may be the ones leaving their organization vulnerable due to their actions, according to new data from Ernst & Young LLP ( EY US ).

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.