Author: Ashley Son Due date: March 3, 2024 Publish Date: March 3, 2024 Introduction Taxation is a vital lens through which to assess an organization’s compliance and financial health; it is not merely a section of financial reporting. Ensuring the correctness, completeness, and conformance of financial statements with all relevant tax laws and accounting standards…Continue Reading The Critical Role of Understanding Taxation for Auditors
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5 Steps to Optimizing Nonprofit Data
By Nathan Salsbery, Partner and Executive Vice President, and Mark Yoder, Partner CapinCrouse LLP Some nonprofit organizations may be unsure of how to start using data in their operations and strategic planning. Knowing what data to collect — and how to best collect, maintain, analyze, and use it — can be challenging. With the right…Continue Reading 5 Steps to Optimizing Nonprofit Data
Get students excited about the accounting profession
By Megan Hart Accounting isn’t always portrayed in popular media as the most exciting field. “Everyone is walking into my class with their own prejudice about accounting,” said Lyudmyla Krylova, CPA, an accounting lecturer at Texas State University at San Marcos. Stereotypes about accounting can be tough to overcome — even when they’re far from…Continue Reading Get students excited about the accounting profession
8 Types of Accounting: Careers, Degrees, and Salaries
By Coursera Staff Accounting is a growing industry in the US, having generated over $141 billion in 2022, according to Statista’s research [1]. Accountants themselves are in demand in various industries, from government and nonprofit organizations to manufacturing and service firms. According to Lightcast™, the number of accountants and auditors will increase by 2 percent…Continue Reading 8 Types of Accounting: Careers, Degrees, and Salaries
How do different accounting firms use AI?
By Thomson Reuters Tax & Accounting In today’s fast-paced business world, ignoring technology is not an option, and the field of accounting is no exception. Artificial Intelligence (AI) has become a game-changer, helping accounting firms streamline processes, improve accuracy, and deliver more value to their clients. The Thomson Reuters ChatGPT and Generative AI survey conducted between May…Continue Reading How do different accounting firms use AI?
AI In Accounting And Bookkeeping: Braving The New Digital Frontier
By Bo Davis, co-founder/CEO of MarginEdge, a restaurant software platform providing automated invoice processing with F&B cost analytics. Depending on who you ask, the prediction of “fully automated accounting” is a long-awaited godsend or a terrifying omen of doom. For anyone watching it, however, the technology isn’t there just yet. But with each leap in AI,…Continue Reading AI In Accounting And Bookkeeping: Braving The New Digital Frontier
Automated Accounting Tasks
Labor and time-intensive facets of accounting — such as audits, tax preparation, banking, and payroll — are quickly becoming fully automated. As the application of AI to create self-learning systems continues to be integrated into accounting tasks, technological systems will take on the repetitive and time-consuming jobs, leaving the analytical and managerial tasks to humans….Continue Reading Automated Accounting Tasks
Cloud Computing
A significant technology trend is working in the cloud. The cloud allows instant access to resources, such as data and computing capabilities. An important advantage of a cloud-based system is the continual updating of information, which allows accountants and clients to analyze data and make decisions based on cutting-edge information. As these technologies become more…Continue Reading Cloud Computing
The Future of Accounting: Demand and Evolving Technology
The accounting industry is rapidly evolving with the rise of technology. Intelligent technology may seem new, but many companies are already using basic automated accounting processes….Continue Reading The Future of Accounting: Demand and Evolving Technology
Blockchain Technology
Another trend impacting the need for accountants in the future is blockchain technology, a computer-based recording system that uses cryptocurrency within a user-to-user network. While blockchain may have gained popularity due to bitcoin — a digital currency in which a record of transactions is maintained and new units of currency are generated independent of a…Continue Reading Blockchain Technology