Accounting and Taxation
Future of Forecasting and Budgeting with Rolling Forecast
The current technology driven turbulent business environment presents many challenges to business managers. One primary challenge is the ability to predict and plan for the future which is unexpectedly unpredictable. Changes are constant. Companies struggle to find ways to manage resources and find ways to thrive and survive in this turbulent business environment.Traditional budgeting has been overtaken by ..
ChatGPT for Accountants
The introductory webinar covers what is ChatGPT?, What can it do?, the Uses of ChatGPT, Benefits for Financial tasks, and the benefits of common Financial usage. It examines the overall impact on Financial Services as well as the limitations and dangers of ChatGPT. It also introduces the second webinar in the series - Getting started in ChatGPT.Areas Covered Automated Customer Services Fraud Detection..
COBIT 5 Framework: Master the Skills to Review Implementation
Designed to make IT auditors familiar with the ways the COBIT®5 Framework can be effectively integrated into the general IT Audit process. The webinar will explore the major changes incorporated in COBIT®5 and their impact on the effective execution of IT audits as well as the integration of COBIT®5 into other internationally recognized standards and frameworks, including the ISO-27001, ISO-27002, ISO-27005..
Forensic Accounting: Court Approved Methods of Proof
How does a forensic accountant calculate financial losses? Federal courts have approved various ways to calculate losses ranging from the net worth method of proof to the expenditures method. Each method of proof depends on the available facts to the forensic accountant.This presentation will focus on the various court-approved methods of proof, when to use them, and how to calculate the total loss.Areas Co..
Net Operating Losses (NOLS); Federal and State Differences
Net Operating Losses (NOLs) provide businesses with a way to offset taxable income in profitable years by carrying forward losses from unprofitable years. While the federal government has specific rules for handling NOLs, each state in the U.S. may have its own set of regulations, leading to significant differences. Understanding the differences in NOL treatment at the federal and state levels allows for be..
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Internal Auditing 2024: What’s New?
In this presentation, we will explore the latest trends, regulatory changes, and emerging technologies shaping the world of internal auditing in 2024. As the global business environment becomes more complex, internal auditors must stay ahead of evolving risks, such as cybersecurity threats, ESG compliance, and financial irregularities, while leveraging new tools like AI, blockchain, and data analytics to en..
Criminal Tax: How CPAs Can Bring Value to Defense Attorneys
CPAs can be requested to assist attorneys in litigation support in criminal proceedings. For criminal tax cases, the IRS has recommended prosecution. However, the rules and stakes are different than a simple civil audit. This presentation will focus on how to assist defense attorneys in calculating tax loss, asking the right questions, and probe possible weaknesses in criminal tax investigations.Areas Cover..
The Monte Carlo Simulations in Excel for Risky Investments
This workshop is about understanding what is behind the Monte Carlo Simulation. First, you will find out who is using simulations and for what purposes (risk analysis, operations, investments.) The next part is about having fun applying simulations - rolling dice on a spreadsheet. Once you understand how it is done we can go into a couple of projects. One project is when we simulate a four years budget for ..
Travel Pay – 2024 Update, Overview And Simplification Of Federal Taxation Rules
The agenda for the webinar is:What is new for 2024?Business Income Tax overview for travel pay Accountable Plans – How to avoid all expense reimbursements becoming taxable wages to your workersThe FLSA and its requirements including compensable time The “tax home” designation and the difference between short and long-term travelPer Diems and how they can make life easier for employers and employees alike Me..
Evolution of the Accountant’s Role; Glimpse in the Next Decade
Learning about the evolution of the accountant's role is essential for professionals to stay relevant, for businesses to leverage accounting expertise effectively, and for educators to prepare the next generation of accountants. It emphasizes the need for continuous learning, adaptability, and strategic integration of technology, ensuring the accounting profession remains a vital component of the business w..
How to Read and Understand an Annual Report
Understanding an annual report is crucial for investors, analysts, and business professionals seeking to evaluate a company's financial health, performance, and future prospects. In this presentation, we will break down the essential components of an annual report, including the chairman's letter, management discussion and analysis (MD&A), financial statements, and footnotes. We will walk you through ho..
Accounts Payable Theft and Fraud
Tell-tale signs of accounts payable fraud include Increasing number of complaints about products or service, Increase in purchasing inventory but no increase in sales, abnormal inventory shrinkage lack of physical security over assets/inventory, charges without shipping documents, payments to vendors who aren’t on an approved vendor listAreas CoveredIdentification of: Duplicate PaymentsAbuse of Approv..
FASB Updates on Accounting Standards for Leases
In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (ASC 842). This update replaces the prior lease guidance issued in 2019 and provides new and updated requirements for financial accounting and reporting for both lessees and lessors. Lessees will feel the biggest impact of this update, as they are required to recognize the vast majority..
IFRS Provisions, Contingent Liabilities and Contingent Assets
Part of this standard’s purpose is to remove any ambiguity about the rules for establishing provisions, thus trying to establish consistency in the approach while still leaving some room for judgment.It is not always an easy balancing act, but this session will help you achieve that balance.Areas Covered Scope of this standardDefinition of items specific to this standardKnow how to account..
Accounting for Managers
Managers need to assess the financial health of their department and also submit budgets. This requires a basic knowledge of accounting and budgeting. Most managers (especially first-time managers) lack this knowledge and are forced to learn it on the fly. The Accounting EquationUnderstanding the Profit/Loss Statement and Balance SheetBank ReconciliationsAccounting SoftwareBudgeting BasicsFixed vs Variable ..