CFOs continue to play important roles within their companies as they provide insight and make decisions that can completely alter the future of their companies. In 2012, the Association of Chartered Certified Accountants put out a report that included predictions about how the roles of CFOs would change in the coming years, and thanks to…
In its most recent customer success report, Featured Customers, a leading customer reference platform for B2B business software & services, recognized Flexi International Software, aka Flexi, as a “Rising Star” in the Financial close management software space. For the uninitiated, FCM, or Financial close management software, or simply accounting close software, helps companies to complete…
Today’s world is one built on instant gratification, and companies across all industries continue to work hard to provide fast, efficient services to their customers. Believe it or not, your company’s financial close time can have a significant impact on numerous parts of your business, including your relationships with your clients and customers. Below, you…
Automation continues to gain speed in the accounting industry. Automation simplifies menial tasks and reduces the risk of manual error, making it a huge boon for accountants as far as accuracy and data integrity. While tech greatly improves much of an accountant’s job, with this shift comes fear and uncertainty about job security. Embracing changing…
This story originally published on CSUN Today. To his family and friends in Hamburg, Germany, he was just Stefan. But he decided that he wanted to see what awaited him in the world beyond his home, specifically in the United States, and got on a boat. He decided to go by Steve, which seemed more…
Data analytics, machine learning, artificial intelligence, blockchain, robotic process automation–these are just some of the tech trends that will continue to perforate the accounting sphere in 2020, according to a recent report by the Institute of Management Accountants (IMA). The report highlights that finance and accounting professionals are increasingly implementing big data, and will continue…
Adapting to new accounting rules and regulatory changes have caused annual audit fees to continue to rise for U.S. companies. According to a survey by the Financial Education & Research Foundation, the average hourly fees public companies pay for external auditing services has climbed 31 percent over the past decade. Businesses tend to retain external…
You may consider outsourcing your accounting in order to bring in additional expertise you don’t have access to internally, or to save money. Business owners and nonprofit organizations are especially good candidates for outsourced accounting. Outsourcing your small business accounting As a business owner, you know you’re edging closer to success when you no longer…
Accountants have been relying on Microsoft Excel since the 1980s, so you could say innovation in accounting is slow going. It turns out, there are several barriers to innovation that are specific to the accounting and financial services industry. What are they, and what can we do to squash them? Jody Padar writes on AccountingToday…
Multi-entity accounting is complex, rendering process and workflow all the more important. Process, workflow, and a solid accounting software solution that is uniquely designed to handle the complex consolidation and reporting needs of multiple companies, divisions, or global entities is a necessity. Some of the processes that plague enterprise accountants are: consolidations, intercompany postings, acquisitions,…
The cannabis industry is flourishing and it is providing a unique and exciting opportunity for accountants. This new, niche industry is heavily regulated and demands highly skilled accountants to navigate and lead. This industry isn’t for the faint of heart. Accountants in the cannabis space are expected to be knowledgeable in a number of facets…
It’s no secret that the accounting industry hasn’t been the most innovative or the quickest to embrace technology. External barriers are as responsible for this as the industry mindset. While automation and AI are spreading like wildfire in other industries, accountants have been tentative and hesitant about what automation could mean for the future of…