Accounting's Use of Big Data Will Double This YearRead the rest of this entry »
Accountants have always dealt with data, but now their adoption of "Big Data" is set for a break out.
The Institute of Management Accountants says the accounting profession will double its use of big data, exceeding the implementation of other technologies such as data visualization and process automation. The IMA report -- The Impact of Big Data on Finance Now and in the Future -- foresees big data analytics having ...
Accountants Can Bulk-Up at This NY FirmRead the rest of this entry »
For young accountants early in their career who want to bulk up, and not only on experience, take a look at Fust Charles Chambers.
The modestly sized Syracuse, NY firm ranked first on Accounting Today's list of the "Best Firms for Young Accountants." Selected along with 9 others from the publication's annual survey for its list of the "100 Best Firms to Work For in the U.S.," Fust ...
Accounting Firms Should Hire Differently In 2020Read the rest of this entry »
As the saying goes, "Every obstacle is an opportunity in disguise," and that's just how CPATrendlines described a look ahead at the challenges CPAs will face next year.
Headlined "2020 Outlook: Top 5 Emerging Risks for CPAs," the article carries a subhead that declares them to also be, "The top five emerging opportunities, if you handle them right."
Written by an EVP at Aon, the article hits on the risks ...
Accountants Have Good News For Clients About TaxesRead the rest of this entry »
For accountants, the holiday season could be considered the lull before the storm. Come January, CPAs will be coping with month-end closing, year-end financials and preparing for the annual W-2 and 1099 mailings.
And then it's tax season.
This year, tax accountants can play Santa to their clients, delivering "Season's Greetings" and some good news about a subject that no one associates with good news -- tax audits.
For at ...
Accounting Mysteries For Small BusinessesRead the rest of this entry »
Of every 10 businesses that first opened their doors Monday, 5 will be gone by 2024.
The reasons for the failure of startups are as varied as the businesses themselves, but high up among the causes is a lack of understanding of basic finance. Too little capital and miscalculating pricing are two of the most common causes of small business failure.
Besides these two serious problems are those rooted in ...
CFOs May Worry About Adoption, But AI Is Coming FastRead the rest of this entry »
As organizations around the world rush to digitize operations, their CFOs worry their finance group is lagging in the digital transformation.
Agile Finance Unleashed, released earlier this year, details the state of digital finance, painting a picture of digital leaders, where the vast majority report a "compelling digital experience" for their internal and external customers, and the bigger share of organizations that are non-leaders. Most CFOs in these non-leader organizations ...
A Strategy For Better Client MeetingsRead the rest of this entry »
One of the biggest demands on an accountant's time are client meetings.
There are the prospective client, get-to-know you meetings, for which many firms don't bill. Once they do sign, then time management becomes critical. Even when you bill by the minute, those "I have a quick question" calls can turn into time sucks. And when they really are as quick as the client claims, they can become a sore ...
Survey Finds a Global Accounting Change Is OccurringRead the rest of this entry »
Driven by market demands, digitalization and generational shifts, a cultural change in accounting is occurring worldwide.
"We see evidence that a majority of professionals are actively and extensively examining not only what's being offered today to customers, but also the processes and structures behind running their practice," writes Jennifer Warawa, EVP of Partners, Accountants and Alliances with the accounting services firm Sage.
In her foreword to the recently released Practice ...
Accounting Grad Hiring, Enrollment DeclinesRead the rest of this entry »
"Increased demand for technology skills is shifting the accounting firm hiring model," says the CEO of the AICPA. "This is leading to more non-accounting graduates being hired, particularly in the audit function."
The organization released its annual Trends Report yesterday. It shows an 11% decline in the hiring of new accounting graduates, while firms have increased their hiring of non-accountants by the same percentage. Some of the increase in non-accountants ...
Robo-Advisors Have Yet to Break EvenRead the rest of this entry »
Robo-advisors, one of fintech's flashier trends, have yet to pay their way. Even at the typical 0.25% fee, most have yet to attract enough invested dollars to break even, let alone turn a profit.
A detailed discussion on International Banker of the robo-advisor phenomenon leans on an HSBC report on the wealth management industry, which included an analysis of the emerging sector that concluded almost none of the online firms ...