Big data refers to large sets of data and information that can be mined for valuable insights and analysis. For accountants, big data can provide insights that can help discover new methods of fraud detection, new methods of preventing identity theft, and can even make tax preparation easier. Further, analytics can help accountants determine patterns…
Bitcoin prices went up in May 2019, and 8 out of 10 panelists interviewed by Finder believe the surge was due to announcements made by companies like Microsoft and Bakkt at Consensus 2019 in New York. Fifty percent cited factors such as the U.S.-China trade tensions. Prices are expected to continue to climb, with a…
As technology has sped up and automated bookkeeping, accountants and finance professionals have struggled to find traditional accounting work, specifically in bookkeeping roles. The unemployment rate for the finance sector represents roughly half of U.S. unemployment, and not because work is scarce, but because the desired qualifications of accountants have changed. Sophisticated platforms that utilize…
Healthcare accounting is complex, and there is a major disruption in the industry right now. As healthcare finance experts wrestle with value-based payments, fee for service models, price transparency, and more, the waters are muddied further by insurance companies, Medicare/Medicaid, and the sheer number of patients (44 million Americans) that are currently uninsured. Healthcare Accounting…
Earlier this year, companies are required to record operating leases, such as equipment, office space, planes, and cars. It’s estimated that this new rule will pull up to $3 trillion into the spotlight, expenses that were previously often buried in footnotes rather than recorded on balance sheets. Up to this point, companies were only mandated…
Accounting processes can take a seemingly exorbitant amount of time when time is of the essence. Increasingly, locally-installed software is more time consuming and less convenient than cloud-based solutions, leading to poor, manual processes, longer wait times for data, and higher rates of inaccuracy in data. Here are the top processes that are slowing your…
Change and growth are fundamental to business, and technology is expanding the ways we approach and dictate business needs. Auditors are no more immune to the expansion of technology than any other industry: traditional audit services are being transformed by technology. Leo R. Moretti writes on AccountingToday that auditors need to be aware of all…
Flexi’s powerful accounting software was built to simplify the complex processes that accountants face every day. Flexi understands how stressful the period close is, how complicated multi-entity books can be, and how frustrating audits are when accurate reporting is not easily available. A laser focus on finance and accounting software has enabled the Flexi team…
Democrats have introduced a bill to extend the tax-filing deadline by 5 weeks, to May 20, to provide taxpayers more time to file following the January partial government shutdown. There is lingering uncertainty in the air over significant changes to the tax code and tax forms in the wake of the Tax Cuts and Jobs…
CFOs are often responsible for selecting the technology tools their greater company uses to get the job done efficiently and correctly. As technology is changing, it is important to get a pulse on how CFOs are using their technology tools in the present and what their future plans are. AccountingToday interviewed CFOs and other financial…
While trading has become increasingly popular in recent years thanks to the advent of the internet, crypto trading continues to face multiple challenges that make it unappealing to investors. Many believe it’s as straightforward as buying stocks on Fidelity or ETrade, but there are many differences that set up a number of challenges. These challenges…
White label accounting software is an excellent choice for startups and small to midsize businesses. Small business owners report spending, on average, over 80 hours a year on business accounting, and the time spent can quickly spin out of control when dealing with complex accounting issues. Fortunately, outsourcing to a white label accounting software partner…