NearSourcingâ„¢ Accounting combines the flexibility of traditional outsourcing with in-house control. Achieve optimal financial management while maintaining oversight. Experience the best of both worlds for your business's success. Learn More: https://lnkd.in/gAwaxjYK #outsourcedaccounting #nearshoreaccounting #cpa #bpo #financialaccounting #financialleadership #accountingservices #smallbusiness

Transform your financial game with Nearsourcing™ Accounting Solutions! Experience the best of both worlds – the efficiency of outsourcing coupled with the reliability of an in-house team. Elevate your financial strategy to new heights and navigate business challenges seamlessly. Contact us today. 832-886-4246 info@strategicCFO.com #outsourcedaccounting #nearshoreaccounting #cpa #bpo #financialaccounting #financialleadership #accountingservices #smallbusiness

One of the things that I really find valuable, is to find an anchor. And I often anchor myself against transactions that come directly from the accounting system – for several reasons. #cfo #seekingelephants #consultinginterims

Are you ready to take your accounting to the next level? But not sure how to get there… 🤔 That is where Accounting Made Accessible comes in! We offer three package options based on your business and budget: 1️⃣ Starter - For businesses just getting started or on a tight budget. 2️⃣ Growth - For businesses ready to automate and focus on the key things needed to grow faster. 3️⃣ Enterprise - For mature, revenue saturated businesses. Reach out today to learn more! 📲https://bit.ly/42vSBxb #AccountingMadeAccessible #CPA #accountant #accounting #outsourcedaccounting #virtualcfo #finance

Are you ready to take your accounting to the next level? But not sure how to get there… 🤔 That is where Accounting Made Accessible comes in! We offer three package options based on your business and budget: 1️⃣ Starter - For businesses just getting started or on a tight budget. 2️⃣ Growth - For businesses ready to automate and focus on the key things needed to grow faster. 3️⃣ Enterprise - For mature, revenue saturated businesses. Reach out today to learn more! 📲https://bit.ly/42vSBxb #AccountingMadeAccessible #CPA #accountant #accounting #outsourcedaccounting #virtualcfo #finance

The accounting treatment of leases according to International Financial Reporting Standards (IFRS): - IFRS 16 replaces the earlier leasing standard, IAS 17. - A single lessee accounting model requires lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less, or the underlying asset has a low value. - Lessees recognize a right-of-use asset and a lease liability upon lease commencement. - The lease liability is initially measured at the present value of the lease payments payable over the lease term. - Variable lease payments that depend on an index or a rate are included in the initial measurement of the lease liability. - The lease liability is subsequently remeasured to reflect changes in the lease term, purchase options, residual value guarantees, or future lease payments resulting from a change in an index or rate used to determine those payments. - Finance lease accounting under IFRS 16 results in the recognition of both depreciation and interest expense on the income statement. - IFRS 16 requires more robust disclosures, including qualitative and quantitative disclosures regarding leasing activities for the respective reporting period(s).

🌍 Tackling Day 2 Lease Accounting Challenges: Beyond Compliance Lease accounting is not just about getting over the Day 1 hurdle of ASC 842 or IFRS 16 adoption. Day 2 presents a new world of complexities that CFOs and finance teams must navigate daily. From managing lease modifications and reassessments to meeting ongoing reporting demands, it becomes clear that compliance alone isn’t enough. Here are the top challenges we hear from finance leaders: 🔄 Lease Modifications & Reassessments: New terms, early renewals, or rate changes can disrupt accounting workflows. 🗂️ Data Management: Keeping lease data accurate and consistent across multiple entities is no small task. 📅 Month-End Close Crunch: Ensuring timely and accurate journal entries amidst tight deadlines. 🛠️ System Limitations: Many tools struggle to handle these evolving needs beyond the basics. 📉 Risk of Manual Errors: Relying on spreadsheets can increase risks and inefficiencies. 💡 The Solution? A smarter lease accounting system. It is about more than just staying compliant. A robust solution streamlines reassessments, automates calculations, and reduces manual work - helping your team focus on strategic initiatives rather than chasing errors. How are you navigating these Day 2 challenges? Let us know in the comments! Reach out to Black Owl Lease Accounting to learn more. #LeaseAccounting #FinanceTransformation #ASC842 #IFRS16 #AccountingSoftware #Compliance

Revolutionizing finance: Discover how FASB is streamlining software cost accounting and how IASB's revised framework will unveil a new era of corporate transparency. #FASB #IASB #FinancialReporting #CorporateTransparency #accounting #news #finance https://lnkd.in/e7bSCqXz

𝐌𝐨𝐧𝐭𝐡𝐥𝐲 𝐁𝐨𝐨𝐤 𝐂𝐥𝐨𝐬𝐢𝐧𝐠 Monthly book closing is crucial for any business!   Let’s continue a quick rundown of the process: 𝐑𝐞𝐜𝐨𝐫𝐝 & 𝐑𝐞𝐯𝐢𝐞𝐰 This process ensures all transactions are entered and reviews the general ledger for accuracy. 𝟑/𝟒 𝐏𝐨𝐬𝐭 𝐭𝐨 𝐭𝐡𝐞 𝐠𝐞𝐧𝐞𝐫𝐚𝐥 𝐥𝐞𝐝𝐠𝐞𝐫 It is the backbone of your accounting system After recording your transactions in the journal, it's time to transfer them to individual accounts in the general ledger]. Think of the general ledger as the heart of your accounting system, where all your financial activity is categorized and organized. 𝐈𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞𝐬: Transferring details - move each transaction from your journal entry to its corresponding account in the general ledger. Matching accounts - ensure each transaction is posted to the appropriate account like  cash, inventory and sales. By accurately posting your transactions, you'll have a detailed record of the financial performance and account balances. 𝐍𝐞𝐞𝐝 𝐚 𝐂𝐏𝐀/𝐁𝐎𝐀/𝐁𝐈𝐑 𝐀𝐜𝐜𝐫𝐞𝐝𝐢𝐭𝐞𝐝/𝐁𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐞𝐫/𝐂𝐅𝐎? Let's talk, schedule a call today and let's grow together 👇👇👇 #MonthlyClose #AccountingLife #FinancialHealth #journal #CFO #CPA #phtax #bir #ngo #sec #bookkeeping #accountant #generalledger

RBC PayEdge seamlessly integrates into your existing accounting system. Watch how you can transform the way your company operates its accounts payable processes. https://bit.ly/34xjyEs