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Accounts Receivable – General
Ways to Improve Cash Flow
Cash flow is about the money coming in and out of a business, and determines the amount of profit a company receives. Some ways to improve cash flow include invoicing early, taking advantage of discounts and getting payments up front.
ProPrint –
9/6/2010
Consumers Cautious about Spending in August
Nervous about jobs and the economy, consumers are barely spending as much as they did last August. The figures so far show that retailers will be disappointed this back-to-school season.
USA Today –
9/1/2010
U.S. Economy Continues to Recover Slowly
The Dow Jones Economic Sentiment Indicator rose less than one point in August signaling that the economic recovery is continuing slowly.
PR Newswire –
8/31/2010
Small-Business Confidence Drops Sharply
Small-business owners' confidence sharply declined in August due to the current economic state according to a recent survey by Discover Financial Services.
Collections & Credit Risk –
8/31/2010
Consumer Spending Rose in July
Consumer spending increased by 0.4 percent during July at the fastest pace in four months, the Commerce Department announced.
USA Today –
8/30/2010
Intacct and Clarizen Partner to Provide Cloud Accounting
Intacct, a cloud application provider, is partnering with Clarizen, a cloud computing work management application, to provide businesses with financial management tools through cloud applications.
Channel Insider –
8/23/2010
Alabama County to Adopt Accounts Receivable Policy
Houston County, Ala. are adopting an accounts receivable policy that will allow, for the first time, an across-the-board formal procedure for receiving grants and other funds from various sources.
Dothan Eagle –
8/19/2010
Signs the U.K. Economy is Strengthening
A rise in British retail sales and a strong reduction in the U.K. budget deficit are giving hope that the country's down economy will grow in the second half of the year.
Associated Press –
8/19/2010
Competitive Advantages on the Balance Sheet
The key to being competitive and being successful financially is to have a lot of cash and little debt. Cash is key and can determine whether a company survives tough times or not.
Caps –
8/18/2010
New Senate Bill on Data Security Exempts Health Care Entities
A new bill introduced in the Senate would require businesses that handle sensitive consumer information to follow strict rules and requirements. Health care entities would not be considered in violation of the proposed legislation if they comply with privacy and security requirements of the HITECH Act or similar federal laws. However, it is still unclear whether the bill also would exempt entities that comply with FTC's "Red Flags" rule.
Health Leaders Media –
8/17/2010
AR Professionals Urged to get Certified
With regulations constantly changing and technology improving, accounts receivable professionals internationally are encouraged to become accredited. The Accounts Receivable Network announced the launch of The Accounts Receivable Certification Programs for managers and specialists.
Market Wire –
8/16/2010
The Importance of Public Speaking
Business leaders have found that clients are impressed with companies with good public speakers. If leaders are able to speak well, they are more likely to make sales and impress their clients.
The Wall Street Journal –
8/16/2010
Common Mistakes that Keep Companies from Saving in the Cloud
Companies generally turn to cloud computing to cut costs, but how much money they save depends on avoiding some common mistakes. Potential mistakes that can make cloud costs rise are not taking full account of financial commitment on existing hardware, getting locked into a cloud solution and assuming you can move your apps to the cloud for free.
CFO.com –
8/12/2010
Importance of Maintaining Receivables
Keeping clean accounts receivable is very important since receivables are what customers to charged. Not maintaining receivables can lead to a negative influence on lines of credit, and loss of customers. Make sure to bill customers immediately, use correct prices, and apply correct sales tax law when billing.
Record Online –
8/5/2010
Corporations Depositing More Cash
A recent survey of finance and treasury executives shows that two out of every five dollars companies have in their short-term balance are placed in bank accounts. Corporations have been depositing about 42 percent of their company's short-term cash deposits into banks, a five percent increase from last year.
CFO.com –
8/3/2010
SEC Wants More Risk Information
The Securities and Exchange Commission has been pushing companies to provide more information about the risks they face. In annual and quarterly financial statements the SEC wants companies to give more details about potential problems, including risks tied to credit and liquidity, goodwill impairments, and compensation.
CFO.com –
8/2/2010
Ways to Get a Company Out of a Cash-Flow Crunch
Several factors can put companies into unexpected cash-flow crunches, which is why it's important to update company cash-flow projections on a regular basis. Three ways to get your company out of a cash-flow crunch are to beef up collections, have sales reach out to customers and ask vendors for help.
CFO Daily News –
7/22/2010
FTC Urges Appeals Court to Apply 'Red Flag' Rules to Lawyers
The Federal Trade Commission urged the federal appeals court not to exempt lawyers from the 'red flag' rules again. The American Bar Association sued in 2009 saying the FTC was interpreting the term "creditor" too broadly and won exemption from the identity theft prevention rules. The FTC argues that lawyers act as creditor when providing legal services without immediate payment from clients.
Legal Times –
7/22/2010
Have Companies Cut too Much?
Due to the recession, companies started cutting costs on anything they could. Companies cut their risk-management costs on average by 3.1 percent. Were the cuts too deep?
CFO.com –
7/16/2010
Companies Holding onto Their Cash
Corporate America is holding onto the most cash in 50 years. Due to the recession, companies are holding onto their cash in preparation for more financial troubles. Non-financial companies held $1.8 trillion in cash at the end of March, up 26 percent from a year ago, the largest increase on record.
CFO.com –
7/15/2010
U.K. CFOs Lose Confidence in Economy
U.K. chief financial officers' confidence in the economy has fallen according to a recent survey by Robert Half. The poll found that only 22 percent were feeling more or slightly more confident about the prospect of their companies, a 25 point decline since January.
Accountancy Age –
6/29/2010
Equifax Warns on Cutting Security
Equifax is urging customers not to cut back on security when budget cutting. Research by ABM shows that half of companies that have cut back on their security budgets in the past two years have experienced an increase in theft and fraud.
Hot News –
6/28/2010
Consumer Spending and Incomes Rise
Consumer spending rose slightly in May, up .2 percent, which is an improvement from April's lack of change. Incomes also rose .4 percent as the economy slowly continues to recover.
USA Today –
6/28/2010
Jobless Claims Fall to Lowest Amount in Months
The amount of jobless claims dropped by the largest amount in two months during June, but remain above levels consistent with healthy job growth. Although still not where they should be, the drop in jobless claims is a step in the right direction.
Associated Press –
6/24/2010
Free Cash Flow Coming to an End?
Companies have traditionally been able to find extra money by cutting costs and capital spending. But as revenues stay flat and with little left to cut, many companies will soon find themselves on the brink of a drop in cash, which only an increase in revenue can undo.
CFO.com –
6/21/2010
Temporary Relieve from Red Flags Rule Could be Coming for Healthcare Providers
An exemption for healthcare professionals from the federal "red flags rule" could be coming, according to the Bureau of National Affairs. The FTC has reached a "stipulation in principle" to provide a temporary exemption for healthcare providers that would last until the pending lawsuit with the AMA can be resolved. Final word on the agreement should be released shortly.
McKnight's –
6/17/2010
Executives Confident in Future Business Growth
Although hiring is only rising slightly, 84 percent of executives surveyed said they are confident that there business will ramp-up hiring in the next three months.
Accounting WEB –
6/7/2010
Doctors Sue for 'Red Flags Rule' Exemption
The Federal Trade Commission's "red flags rule" requires companies that offer credit to have a written policy for finding, preventing and dealing with identity theft. The controversial law has been delayed several times, and the FTC has now pushed implementation back from June 1 to December 31, 2010. The American Medical Association is now suing the FTC for exemption, arguing physicians shouldn't be subject to the rule.
The Wall Street Journal –
6/1/2010
Becoming a Virtual CFO
With online banking and electronic payments becoming the norm, more CFOs are becoming Virtual CFOs by using technology to help clients and employees. Strategies to begin or continue transformation into virtual CFOs include communicating the importance of a payment strategy, maximizing cash flow, introducing payment technology tools, and encouraging data and fraud protection.
Accounting WEB –
6/1/2010
Red Flag Rules Go into Effect June 1; Companies Struggle to Comply
Many companies do not realize that government regulations to help prevent identity theft, called Red Flag Rules, go into effect June 1. Identity theft has been the number one fraud filed with the FTC, so in reaction, all affected companies have to comply with the Red Flag Rules by next week.
Inc. –
5/24/2010
Americans Regain Trust in Accounting Firms
Americans lost trust in financial intuitions when the recession began, but a new survey shows that accounting firms are regaining that trust. A recent survey by Harris Poll shows that over 60 percent of those surveyed find statements by spokespersons from accounting firms to be trustworthy and believable.
Web CPA –
5/18/2010
Where do Government Fines Go?
When the government fines businesses, where does the money go? Where fines go depends on what they were for and who is assessing them.
San Francisco Chronicle –
5/6/2010
Economic Recovery?
Several recent economic reports indicate the recovery is growing, but not fast enough to being down the unemployment rate.
Collections & Credit Risk –
5/6/2010
What Goes into the "Back Office"
Most people have different interpretations of the term "back office." What's your interpretation, and do you know everything that goes into the "back office?"
CIO –
5/3/2010
Reports Deliver Mostly Good News about U.S. Economy
Three economic reports recently released show mostly good signs for the U.S. economy. The Commerce Department reports consumer spending rose in March by the largest amount in five months, but personal income only rose by .3 percent, raising concerns about future growth. The U.S. manufacturing sector also expanded at the fastest pace in six years. Finally, construction spending rose for the first time in five months, but if personal income does not rise at a faster pace, experts worry that this growth will not continue.
USA Today –
5/3/2010
Switch in Focus has CFOs Wary of Future Growth
Over the past two years downsizing had been a major trend for most CFOs. Now that the economy is beginning to pick up, CFOs say deciding how and when to ramp up growth is the biggest challenge they face going forward.
CFO.com –
5/1/2010
Consumer Confidence Index Continues to Rise
The Consumer Confidence Index rose in April to the highest reading since September 2008. With a gain of 5.6 points in the last month, consumers are confident in our future.
Collections & Credit Risk –
4/27/2010
Using Factoring in Tough Times
Many companies that find themselves in need of immediate cash have been turning to 'factoring' as an option to get cash to pay suppliers and/or staff. Factoring is the process of selling companies' receivables to a factor company to bear the risk of the collections, but it is only to be used as a last resort.
The Globe and Mail –
4/21/2010
Executives Believe Economic Turnaround to Occur in 2010
A majority of executives believe the economy will turn around by the end of the year, according to a recent survey by Accountants International. Top accounting, finance and human resource executives were surveyed and said the economic recovery has already started, and 62 percent think the recovery will happen by the end of 2010.
Accounting WEB –
4/19/2010
Innovation: A Top Priority for Executives
Innovation was put aside during the recession, but now that times are improving innovation has become a priority to executives again. Eighty-five percent of executives surveyed said innovation was a key strategy for the company to emerge from the recession, and 65 percent said innovation is one of their top three priorities.
CFO.com –
4/19/2010
Consumer Confidence and Spending Down in March
After two months of increased spending, consumer spending dropped in March according to data from Discover Financial Services. Consumer's confidence in the economy also fell, with 49 percent of consumers thinking the economic conditions are getting worse.
Collections & Credit Risk –
4/12/2010
Global eCommerce: What it has to Offer
Payment Views discusses global eCommerce, and looks into commonly asked questions about which countries to sell to, what payment methods are important and who can provide payment services over seas.
Payments Views –
4/5/2010
Businesses Turn to Receivables-Based Financing for Quick Cash
With sales down and banks making loans harder to obtain, many cash strapped companies are turning to receivables-based financing for fast fund solutions. Receivables-based financing is when businesses sell their invoices for quick cash. It is generally used as a last resort because it costs on average 30 to 40 percent more than a typical bank loan.
CFO.com –
4/1/2010
Accounting-Related Lawsuits Fall to Lowest Amount Since 1995
Last year the amount of shareholder class action lawsuits over accounting issues fell four percent to the lowest level since 1995. According to PricewaterhouseCoopers report, only 37 percent of the federal filings in 2009 cites accounting issues.
CFO.com –
4/1/2010
Improve Supply Chain Management to Save Money
Experts recommend that businesses can gain a competitive advantage by adjusting the management of their supply chains, including cutting excessive inventory, taking advantage of lowered commodities, and making budget cuts.
Supply Chain Market –
3/19/2010
Online Sales Tax Regulations Gaining Force
Efforts to collect online sales tax are gaining momentum. Budget-cuts and cash deficits are causing states to consider new laws requiring e-commerce sites to charged sales tax on purchases. Four states have already enforced laws on their own, 23 have joined the streamlined sales tax project, and the remainding states are waiting for the federal government to tackle the issue.
The Wall Street Journal –
3/18/2010
Ways to Manage Cash Flow
The way a business manages its cash flow determines how successful the business is. Some ways to better manage cash flow are: creating cash flow forecasts, invoice more frequently, collect money upfront before providing goods or services, and avoid carrying cash.
Connecting the Australian Channel –
3/18/2010
Restatements Lowest Since 2001
A recent analysis by audit Analytics showed that only 630 U.S. companies filed restatements last year from accounting problems, which is down 24 percent from the previous year. That makes 2009 the lowest year for restatements since 2001.
CFO Daily News –
3/15/2010
Document Management Software Seen as Solution for Accounting Disruptions
A recent survey done in the U.K. shows that 53 percent of finance professionals have personally experienced disruptions in accounts payable and accounts receivable processes due to adverse weather conditions. Eighty-two percent of the participants believe that document management software is the solution to reducing the amount of disruptions in the accounting process that are causing late collections, cash flow issues and late payment fees.
USP Magazine –
3/15/2010
Squeezing More Cash out of Companies
Due to tough economic times companies are learning how to do more with less. A recent CFO.com study shows that top companies could find extra cash flow by adjusting inventory, getting receivables in on time, and managing their accounts payable carefully.
CFO.com –
3/12/2010
Companies Coming up with Cash
With many companies strapped for cash, new strategies are emerging on how to get the money companies need. Some are increasing collections by billing earlier and, more frequently, selling property and equipment and using their company income tax return to increase cash flow.
Accounting Web –
3/12/2010
Signs of an Economic Recovery
Despite the cold weather around the U.S., consumer spending was up in February with a .8 percent increase in retail sales, the largest gain in three months. This is a sign that an economic recovery is underway, especially since sales are up 3.9 compared to 2009.
CNBC –
3/12/2010
Upgrading Accounts Receivables
For businesses that are not paid in a timely matter or not paid in full by their customers regularly, upgrading the billing system can help.
Inc. –
3/12/2010
Growth in Earnings and Spending Predicted for 2010
Financial executives are predicting substantial growth in earnings and capital spending in 2010 for the first time in over a year. On the down side, employment is not predicted to rise, with employers looking to expand their workforce by less than one percent.
CFO.com –
3/3/2010
Intellectual Property's Importance
Intellectual property, creations of the mind by companies, is what sets businesses apart and fosters growth. Businesses often over look these intangible assets since they are not plainly on a balance sheet, but in hard economic times intellectual property becomes more important than ever.
CFO.com –
2/25/2010
Consumer Confidence Drastically Falls in February
A monthly poll shows consumer confidence took a sharp fall in February on rising job worries. The decline ends three months of improvement and raises concern about the economic recovery.
USA Today –
2/23/2010
Who's Minding Risk?
Many blame the financial crisis largely on excessive risk taking. Now, the Security and Exchange Commission is requiring companies to describe how the supervision of risk is distributed among their boards and board-level committees. Effective February 28th, the rule is part of a package intended to improve disclosure regarding executive compensation that may foster risky behavior.
CFO.com –
2/22/2010
Understanding what your Accountant Does
Many businesses tend to rely heavily on their accountants when it comes to tracking their company's critical numbers, but relying too heavily on them can be dangerous. Knowing what's important is a must for all business owners. Understanding your balance sheet, income statement and cash flow statement are important for more than just the accountant.
Inc. Magazine –
2/19/2010
The Five Hottest Accounting Jobs in 2010
Financial accountant, financial planning & analysis manager, assistant accountant, cost accountant and compliance manager have been named the best roles for accountants over the next year.
Accountancy Age –
2/16/2010
Integrated Banking Technology and SeerGate Introduce Secured Lock™ System
Integrated Banking Technology (IBT), a company that specializes in providing core processing, imaging software applications and products for financial institutions announced the launch of SeerGate's Secured Lock™ System. SeerGate's Secured Lock™ System is a secure and convenient system for interactive, real-time online banking transactions, to provide an interbank payment and invoicing solution.
Business Wire –
2/15/2010
January Retail Sales Up
Retail sales for January were better than expected, rising by .5 percent, a sign that could mean stronger economic growth in coming months.
Yahoo News –
2/12/2010
13 Budget Predictions for 2010
Top tax experts have compiled a list of 13 budget predictions for 2010. Some include: widening of electronic invoicing, training incentives and international tax.
MoneyWeb Tax –
2/11/2010
Accountants Waiting for Better Times to Change Jobs
According to a recent survey, many accountants are lining up new jobs for when the economy stabilizes. It may seem counterintuitive, but many accountants are willing to take a pay cut to be more satisfied with their jobs. Because many accountants have been expected to do considerably more work by their employers during the recession, they have little loyalty to their current workplace.
Accountancy Age –
2/9/2010
CFO's Predict Substantial Sales Growth for 2010
According to a recent survey, CFO's are optimistic about financial results for 2010. Sixty-nine percent of CFO's surveyed said they anticipate higher sales revenue this year, whereas only 30 percent thought the same for 2009.
CFO.com –
2/4/2010
Consumers Switching to Cards over Checks
A recent survey shows that Texas consumers wrote fewer checks for purchases in 2009 compared to previous years, reaching for their debit and credit cards instead. Sixty-two percent of surveyors said they wrote fewer checks monthly last year than they did in 2008 and more than 90 percent said they used cards to make purchases of less than $500. Despite the decline in check writing for purchases, consumers still reach for their checkbooks to pay monthly expenses such as mortgages, car payments and utility bills. Although the use of cards is increasing, the paper check is still with us.
Collections & Credit Risk –
2/3/2010
Consumer Spending Slowly Increases
Consumer spending grew at a moderate pace in December, a sign that consumers are being cautious despite the signs of the economy improving. According to the Commerce Department, personal incomes rose for the sixth-straight month in December while personal spending also rose for the third-straight month.
Collections & Credit Risk –
2/2/2010
Accounting Firms Taking a Hit
Accounting firms around the world are paying the price for helping businesses through this crisis. French Duncan, a U.K. accounting firm, says it has had to write off thousands of chargeable hours, hitting its profits hard.
Accountancy Age –
2/2/2010
The Importance of Understanding Working Capital
Working capital is essential to operating a successful business, and many accountants do not fully understand this financial staple. This article looks past the basic current assets minus current liabilities formula to find out what working capital actually is and how to accurately calculate it.
No Obpreneur –
1/30/2010
Accounts Receivable BPO Firm Forced to Sell Business
Due to the continued job losses in the U.S. and rising defaults, HOV Services, an accounts receivables business process outsourcing company, is selling its business to Rustic Canyon.
The Economic Times –
1/29/2010
IRS Audit Process to Begin February
The IRS's National Research Program (NRP), an intense audit process to uncover unpaid business and payroll taxes, is launching this February. Businesses will be selected randomly and will be expected to provide records for fringe benefits, company officers' compensation, expense reimbursements and worker classification.
HR Morning –
1/22/2010
Efficiency Saves Money
Is your business's filing system as efficient as it could be? Whether you decide to stick to paper or go paperless - your business should get organized. A recent survey showed that the average business person wastes over 150 hours per year looking for lost information which could cost your company $3,300 per year per employee.
CFO Daily News –
1/15/2010
U.S. Sales Lower than Expected
U.S. retail sales dropped unexpectedly in December, making 2009 the worst year on record. The December sales had a .3 percent decrease instead of the .5 increase predicted by consensus analysis forecasters.
Yahoo News –
1/14/2010
U.K. Accountants Want out of Profession
Nearly half of U.K. accounts reported wanting out of their profession in the next five years, according to a survey by E-conomic. The increasing regulations, concerns over inflation, and increase role of HMRC are the top reasons for accountant dissatisfaction.
Accountancy Age –
1/12/2010
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