7 Steps to Start a Business
The idea of starting your own business is inherently romantic, if not exhilarating: You get to run the show, flesh out your ideas, and live your dream. But where do…
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How To Use Natural Language Processing to Improve the Efficiency Of Accounting Processes
Natural language processing (NLP) is a technology that allows computers to understand and process human language. Processing of natural language is necessary when you want an intelligent device to follow…
Understanding the Latest Modifications to Form 1099-K Reporting Requirements
There has been updated guidance on how and when tax filers must file and report Form 1099-K, Payment Card, and Third-Party Network Transactions in 2022 and 2023. According to the…
Understanding the Weighted Average Cost (WAC) Method for Inventory Valuation
When it comes to businesses and their inventory and accounting methods for managing it, there are a few different ways to approach the task. The three different options to value…
Defining an Impaired Asset
When it comes to defining an impaired asset, its fair market value is worth less than the original cost of the asset – or more formally, its carrying value. As…
Why You Might Not Need a New Budget for the New Year
So, we’re a month into 2023 and the sheen might’ve dulled from all your shiny, New Year’s resolutions. Though diet and exercise are the top things you might want to…
Handling Talent Shortages in Tech Departments
Technology advancement has brought about great digital transformation. Unfortunately, this has come with a global tech talent shortage. IT executives highlight the shortage as a huge barrier to the adoption…
Inventory Valuation: How Companies Can Calculate It
By 2021, there were 20,000 warehouses in the United States and growing, according to the United States Bureau of Labor Statistics (BLS). With more warehouses expected to pop up in…
The IRS Versus the Taxpayer
According to the IRS, not only is your ignorance no excuse but so is that of your tax preparer. In other words, the fact that your tax preparer made a…
5 Financial Resolutions You Can Live With
For the most part, New Year’s resolutions are hard to keep because many times you either list too many things or ones that aren’t manageable for the long haul –…