The Drivers Behind Accounting's Cultural ChangeRead the rest of this entry »
A cultural shift is underway in the accounting profession, driven by market demands, digitalization and the influx of younger workers who have expectations toward work different from a firm's more senior members.
A recently released survey of 3,000 accounting professionals from North America, Europe and Australia examines the changes in accountancy and the underlying reasons for them. Writing in the foreward of the report sponsored by the accounting software ...
Majority of Corporate Tax Professionals are AutomatingRead the rest of this entry »
A survey of senior corporate tax professionals by Ernst & Young found more than 6 out of 10 have adopted new technologies to improve efficiency and enhance their data analytics.
“In this transformative age, disruptive technologies such as AI and Robotic Process Automation (RPA) have already changed the face of tax functions,” said Marna Ricker, EY Americas Vice Chair of Tax Services. “This technology enables tax professionals to spend more ...
Accountants Losing Confidence In Continued GrowthRead the rest of this entry »
Although hardly bearish, the downward trend in the confidence accountants have in business growth is worth watching. Since hitting a peak of 61.65 in February of last year, the 6 month Accountants Confidence Index has declined more than 10 points.
Reported by AccountingToday and published in conjunction with ADP, the Index tracks accountants' confidence in U.S. economic growth. The May reading for the 6-month composite came in at ...
PwC Tops List of 50 Best Accounting FirmsRead the rest of this entry »
For the seventh year in a row, PwC ranks first in the annual Vault survey of the country's top 50 accounting firms.
The global accounting and business consulting firm also earned the top spots in two of the several areas that together determine the overall top ranking. PwC was first in the rankings for Prestige and Business Outlook.
Deloitte ranked a close second. KPMG came in third, followed by Grant ...
4 Ways New Accountants Can Add to Their SkillsRead the rest of this entry »
Here's a prediction that should give every early career accountant something to consider: In the near future, 80% of accounting and finance tasks will be delivered by cross-functional teams that will include strong automation support.
That's a tip off, says Accounting Principals, that your toolbox of skills will need to include communication, business development, data analysis, problem-solving, and business acumen that is more than just an understanding of the numbers ...
2018 Was a Record Year for VC ActivityRead the rest of this entry »
When talking about venture capitalists, California and its Silicon Valley may be the first place to come to mind. In 2018 the state accounted for well over half the $130.9 billion invested. Massachusetts and New York were second and third.
Last year was a record-breaker for VC investment. The Pitchbook declared, "2018 ended up being a banner year for the VC industry with $130.9 billion invested across 8 ...
Group to Consider Adding Technology to CPA ExamRead the rest of this entry »
Demonstrating proficiency in all aspects of accounting has long been the essential requirement of becoming a CPA. Soon, accountants may also be tested on their skills in accounting technology and data analytics.
The National Association of State Boards of Accountancy (NASBA) and the AICPA have formed a group to explore adding sections to the CPA exam about these areas, which are increasingly becoming a part of accounting practice.
The Journal ...
6 Areas of Risk For Accounting FirmsRead the rest of this entry »
Accountants by nature and training are cautious. Yet accounting partners may be running risks in their own firms they may not even be aware of.
A recent article in Accounting Today recommends managers review six areas "where accounting firms are most likely to find risk – and the opportunity to minimize it." Here are the six:
- #MeToo and your firm -- "Make certain that policies prohibiting discrimination, harassment and retaliation meet ...
Q1 Hiring Plans Are Strongest In YearsRead the rest of this entry »
The stock market may be seesawing, but employers are still bullish on hiring. Two recent surveys of hiring intention both pointed to strong plans by employers to add staff in the first quarter of this new year.
Manpower's long running Employment Outlook, based on a survey of 12,500 employers, shows 23% expect to add headcount between now and the end of March. Seasonally adjusted basis that comes out to ...
Ahead for Accounting: Automation, Competition and DisruptionRead the rest of this entry »
Accountants who read our blog post this week about what 2019 holds for the healthcare industry will notice some of the same themes in today's post about the trends the accounting profession will see next year. Automation, analytics, blockchain and continued disruption to accounting's traditional business model are in the profession's future, just as they are for healthcare, different forms, of course.
Writing on CPA Practice Advisor, accounting consultant and ...