Accounts payable and receivable will always be important processes in manufacturing. IndustryWeek reports that while accounting management accounting software has been around for 20 years or so, the automation of many companies’ accounting processes is still a continuing process. “On the receivables side, we are trying to automate our outgoing invoices, and we want to get all our receipts electronically,” said Michael Clayback, director of information technology at Sealing Devices.

Of the 80 million small businesses in the United States, about four million are owned by veterans. The total military veteran population is about 24 million. This five percent of small businesses is more than one would expect, given the total population number, according to SmallBusinessNotes.com. Veteran startups have a higher success rate when compared with other business startups, as well. SmallBusinessNotes.com said this is due in part to the experience veterans receive while in the military.

For 36 percent of small business decision-makers responding to a survey commissioned by Aflac, their current health benefit offering has negatively affected business. Nearly two-thirds of respondents are concerned about their company’s ability to provide a benefits package that will attract and retain employees.

Rivers crested after record rains eased in the Northeast U.S. on Tuesday leaving behind damage from some of the worst flooding the area has seen in nearly 80 years. As with the aftermath of last year’s hurricanes, many homes and businesses will not survive because the three states hardest hit by the flooding have relatively low participation rates in the federal flood insurance program, according to the Boston Globe.

Accounting firms with up to 50 accounting professionals on staff can now look to the Hartford Financial Services Group, Inc. for their professional liability protection as well as their general business insurance needs and financial services products. The Accountants Professional Liability product provides coverage for certified public accountants and other accounting professionals, including public accountants, enrolled agents, tax preparers and bookkeepers.

The Financial Accounting Standards Board (FASB) is considering lowering the threshold for recognizing a public company's potential loss from pending litigation, a board member disclosed in a recent forum.Advertisement

The accounting and tax preparation industry in the United States includes approximately 90,000 firms with combined revenue of $65 billion, according to Research and Markets, a leading source for international market research and market data, headquartered in Dublin, Ireland.Advertisement