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Seven Signs You Need a Better Fund Accounting System

GrowthForceBlog

With so much difficulty facing nonprofit leaders, struggling to keep up with the bookkeeping and accounting tasks of the back office doesn't need to be added to the list of struggles.

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Accounts payable vs. accounts receivable: What are the differences?

ThomsonReuters

Accounts payable and accounts receivable are opposite but interconnected procedures. When accounts payable and accounts receivable are in balance, a business can plan ahead for growth. For business owners, a working knowledge of both accounts payable and accounts receivable is necessary to sustain business operations.

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Top Pension Funds Saw Largest Fall in Assets in 20 Years

CPA Practice

In 2022, sovereign and public sector pension funds accounted for 152 funds in the top 300, representing 70.9% Sovereign pension funds accounted for $6.2 trillion in assets, while sovereign wealth funds totaled $11.6 Sovereign wealth funds’ assets grew by 13.9% The top 20 funds accounted for 41.5%

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The Federal Data Transparency Act and Your Local Government Agency

LSLCPAs

It is another step in digitizing data coming on top of the Federal Funding Accountability and Transparency Act (FFATA) of 2006, the Data. The Federal Data Transparency Act (FDTA or the Act) was passed by Congress on December 23, 2022, as part of the National Defense Authorization Act.

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Mutual Fund Buy-Sell Tax Pitfalls

RogerRossmeisl

Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund allows you to write checks against your fund investment.

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The golden rules to avoid a massive tax bill as a sole trader

Reckon

All you need is a few software tools…and two separate business bank accounts! (A 2) Create separate business and personal bank accounts. Before we look at avoiding a tax bill, follow one golden rule: Never use your personal accounts. Always use business bank accounts. 3) You need a second account for taxes only!

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Interesting Niches under a COVID Cloud

BuildYourFirm

Given this evolution during the COVID cloud, below are some niches we are seeing accountants starting to capitalize on. Accounting for Cyber Security and Technology. Accounting for Digital Media (YouTube, Amazon FBA, Bloggers, eCommerce businesses). Accounting for Public Relations and Online Marketing Agencies.