article thumbnail

FASB mulls two new software accounting options

CFO Dive

The project to improve software accounting standards is a long time coming. At least one element of the current standards has remained largely unchanged since 1985

article thumbnail

Most accountants suffer burnout: study

CFO Dive

A high level of chronic stress increases the rate of accounting error, prompting many companies to reopen their books after closing to fix mistakes

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FASB takes step toward clarifying lease accounting

CFO Dive

The proposed lease accounting update comes as the FASB works on a project that would require companies to disclose more income-tax information

article thumbnail

Lease abandonments trigger accounting questions

CFO Dive

Companies are wrestling with the accounting implications of shrinking their real estate footprints. It’s not as simple as moving out and moving on

article thumbnail

The Emerging Spend Management Sector: Simplifying Your Accounting Processes

Speaker: Spencer Falbo, Principal at Kong Basile Consulting

In this webinar, Spencer Falbo, principal at Kong Basile Consulting will teach you how Spend Management can help to automate many of your processes, making your job as an accountant more efficient.

article thumbnail

Accountants may underestimate impact of Fed tightening: survey

CFO Dive

“Further monetary tightening appears inevitable,” the ACCA and IMA said as the Federal Reserve prepared for a two-day policy meeting beginning Tuesday

article thumbnail

FASB to consider tweaking lease accounting guidance

CFO Dive

Lease accounting is one of three major standards currently undergoing post-implementation reviews, according to FASB spokesperson Christine Klimek

article thumbnail

The ABCs and IRCs of cannabis accounting

CFO Dive

From cash control issues to inadequate reporting and point of sale (POS) software, accounting for cannabis dispensaries is no easy feat and the wrong move can land a company in serious legal trouble

article thumbnail

Diversity hiring gains speed in accounting: AICPA

CFO Dive

Companies hiring for jobs in accounting and finance increasingly value recent graduates with technological skills, AICPA said

article thumbnail

Tax, accounting firms see tech utilization paying off: survey

CFO Dive

Tax and accounting firms are becoming more comfortable tapping technology as a driver of success as they seek to grow revenue and profit and improve employee effectiveness for 2023

article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by speeding up the month-end close and better managing your remote teams.

article thumbnail

SEC’s Munter warns of potential decline in accounting ‘professionalism’

CFO Dive

Missteps at large accounting firms threaten to undermine investor confidence in financial information, according to Paul Munter, the SEC’s acting chief accountant

article thumbnail

De-SPAC accounting hazards

Private Funds CFO

SPACs managers must educate targets to avoid accounting risks. News & Analysis daily

article thumbnail

AMS Accountants Group acquires Seneca Corporate Finance

Accountancy Today

Professional services firm AMS Accountants Group has announced its acquisition of Seneca Corporate Finance , a mid-market corporate finance boutique operating in the northwest from investment management firm Seneca Partners. . Corporate Finance AMS Accountants Group

article thumbnail

FASB drops four-year project changing goodwill accounting

CFO Dive

accounting standard-setter shelved a proposal recasting how companies account for an estimated $3.6 The U.S. trillion in goodwill on their balance sheets

article thumbnail

Private companies grapple with FASB lease accounting rules

CFO Dive

Private companies have voiced concerns about the complexity of updated lease accounting rules, a FASB staff member reported Wednesday

article thumbnail

Why Startups Need More Than Accounting Software for Financials

Navigator SAP

There are typically three phases of a startup’s financial management journey. ERP with financials Start-up

Startups 207
article thumbnail

Accounts payable: Why CFOs should pay attention

CFO Dive

Over one-third of your invoices have errors, and costs to process these may be up to ten times greater than a "clean" invoice

article thumbnail

Benefits of Outsourced Bookkeeping and Accounting

Capital CFO LLC

You may be wondering the benefits of Outsourced Bookkeeping and Accounting. Bookkeeping and accounting services have become one of the most outsourced functions in small to medium-sized companies.

article thumbnail

Reconcile That Account! (Not Just Your Checking Account…)

CFO Simplified

As a business owner, you must understand the importance of reconciling your accounts—and no, not just your checking accounts! Do you know what accounts you need to be reconciling regularly? Do You Know What Business Accounts You Must Reconcile? Accounts payable.

article thumbnail

The accounting profession is making bold moves to increase diversity

CFO Dive

The CAQ surveyed nearly 4,000 students and found that Black and Hispanic business majors who have considered accounting degrees perceive several barriers to entering the profession.

article thumbnail

Construction, manufacturing and retail account for 40% of administrations

Accountancy Today

Data from The Gazette Official Public Record revealed construction, manufacturing and retail were the sectors that accounted for almost 40% of administrations in 2022.

article thumbnail

The 8 Best Guaranteed Interest Investment Accounts

CFO News Room

Investing in a guaranteed interest account is a great way to secure your money, as there is very little risk. Guaranteed interest accounts provide reliable, consistent returns and can be used for short-term savings or to supplement other investments in your portfolio.

article thumbnail

3 Reasons Accounting and Finance Needs Automation

Generation CFO

The second reason automation is so important is that we’re really time poor in accounting and finance. Automation is an enabler to some amazing futures for the finance and accounting industry. Want to learn more about automation in finance and accounting?

article thumbnail

Accrual Accounting vs. Cash Basis Accounting

CFO News Room

Accrual Accounting vs. Cash Basis Accounting: An Overview. The main difference between accrual and cash basis accounting lies in the timing of when revenue and expenses are recognized. Accrual Accounting. Under this method, revenue is accounted for when it is earned.

article thumbnail

Private company CFOs grapple with new lease accounting

CFO Dive

Lease inventories, hiring more staff and renegotiating lease terms are some of the moves private companies can take to make compliance easier

article thumbnail

Frictionless accounts payable – happy customer, happy employee

CFO Dive

Keeping your customers and the employees that serve them happy is key for any organization

article thumbnail

Accounting-related class actions plunge

CFO Dive

Settlements, and settlement amounts, were also down, possibly in part because companies are restating financials less, Cornerstone Research finds

article thumbnail

FASB preps biggest ‘segment’ accounting change in 25 years

CFO Dive

Under the proposal, publicly-traded companies would have to disclose more frequent and comprehensive data on their business units

article thumbnail

Confidence among CFOs, accountants falls to record low: survey

CFO Dive

Rising operating costs and persistent supply chain bottlenecks clouded CFOs’ outlook during the three months ending in June

article thumbnail

Checking vs. Savings Accounts

CFO News Room

When it comes to managing money, you may be wondering whether a checking account or a savings account is better equipped to meet your needs. of American households are unbanked , meaning no one in these families has a bank account. What Is a Checking Account?

article thumbnail

CFOs, accountants vexed by surging operating costs

CFO Dive

CFOs and other financial executives express rising concern about increasing prices for transport, energy and other costs, a survey found

article thumbnail

The 5 BIG Myths of Nonprofit Accounting

The Charity CFO

For more nonprofit accounting resources check out www.thecharitycfo.com. Looking for a new accountant? Are You Ready To Outsource Your Accounting? The post The 5 BIG Myths of Nonprofit Accounting appeared first on The Charity CFO. Accounting Investment Reporting Taxes

article thumbnail

What Accounts for All This Stuff?

CFO News Room

Instead, do what I recently did: cast a careful eye around your home and ask yourself “What accounts for all this stuff?” These critics should spend more time looking around their homes while asking – really asking – “What exactly accounts for all this stuff?”

article thumbnail

Checking Accounts and Beneficiaries

CFO News Room

Naming a beneficiary is common practice when you open most investment accounts. But what about checking accounts? The beneficiary for an account, of course, is the person you want to benefit from the account after you die. Do Bank Accounts Need Beneficiaries?