The Skills Accountants Will Need to Thrive In an AI WorldRead the rest of this entry »
The days when the only tech skills an accountant needed was an expert knowledge Excel and how to email a client. No more. As automation and AI continue their inexorable march into accounting firms, up and coming accountants will have to develop new skills.
An article on AccountingWeb insists "young accountants cannot count on doing the same old thing that their predecessors did." Automation may free accountants from the mundane ...
The Only Mistake Is to Not Learn From Your MistakesRead the rest of this entry »
Sooner or later even the best of us will make a mistake. It could as simple as a typo in a report for the boss or as serious as a calculation error in a financial audit. The former is just embarrassing; the latter could lead to dismissal for the accountant responsible. How you respond when the error is discovered makes all the difference.
"Your reaction and how you handle the ...
Why Choose Accounting?Read the rest of this entry »
With the number of millennials and now Gen Z enrolling in accounting programs in US universities and colleges continuing to grow, one obvious question is what makes the profession so enticing.
The Association of Chartered Certified Accountants has an answer:
"Young finance professionals... are attracted to the profession’s promise of a long-term career with opportunities for developing wide-ranging skills."
Money and prestige -- particularly for those at top firms worldwide ...
Cryptocurrency Traders Looking For Ways Around TaxesRead the rest of this entry »
There's a new question tax accountants will be asking their more aggressive investors this season: "Did you transact any cryptocurrency last year?"
With blockchain the underlying technology, cryptocurrency transactions occur outside the banking network and its mandatory financial reporting requirements. Plus with a little effort, these transactions can be anonymous, making it doubly difficult for the IRS to track.
That makes it tempting for traders in these currencies to ...
SEC Is Looking For Ways to Make IPOs More AttractiveRead the rest of this entry »
1996 was a banner year for IPOs. That year, 690 companies went public, a record second only to 1969 which saw 780 initial public offerings, according to data from the University of Florida.
Last year, 237 companies went public, 160 of them with a market cap of over $50 million.
What happened? There's no shortage of explanations: Corporate executives and their spokespeople say it is due to over-regulation of ...
AI Is Making Inroads In Accounting and FinanceRead the rest of this entry »
Artificial intelligence is making inroads to finance and accounting, with 46% of accountants and finance leaders in a recent survey reporting it already plays a role in their organization. Another 30% are currently investigating its implementation.
Conducted for the financial automation tech firm BlackLine, 56% of the 300 respondents from companies of $150 million and up in revenue said they most desire AI technology that would enable them to complete ...
Accounting Survey: Revenue Up, But Hiring's A ConcernRead the rest of this entry »
Accounting executives and firm owners are optimistic about the year ahead. Almost one in five expect a 10% or better jump in revenue in 2018, with mid-sized firms the most optimistic. 27% of them expect to grow that much.
At the largest firms, optimism was more guarded; 53% of the respondents expected to grow from 1% to 5%. On the other hand, only 5% expected revenue to be flat or ...
What Will Accounting Life Be Like In 2027?Read the rest of this entry »
What will accounting look like in 2027? Truth is, no one really knows, even if we can make some good guesses.
Despite all crystal balls being murky at best, Accounting Today took a stab at predicting the future. Taking a look at "A day in the life of the future accountant," writer Daniel Hood made some safe bets and took some risks.
On the safe side, his future accountant is ...
New IRS Per Diem Travel Rates Take EffectRead the rest of this entry »
New per diem rates from the IRS for business travel went into effect yesterday and are little changed from last year.
Announced last week by the IRS, per diems for both high cost and other locales increased by $2 over last year's rates. Now the combined hotel and meals and incidentals per diem for high cost locales is $284 and $191 for everywhere else.
The biggest change for most ...
New York's New Pay Law Will Change How Comp Is NegotiatedRead the rest of this entry »
New York's new law prohibiting employers to ask job seekers about pay doesn't go into effect until November, but employers and recruiters already are preparing for a whole new way of negotiating compensation.
The law affects all businesses, but the world of high finance, Wall Street may see some of the biggest changes in the way comp is handled.
Steven Gold, a partner here at Green Key Resources ...