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We’ve all heard the common reasons people stick with Excel: it’s easy to implement, easy to use, and, most appealingly, easy on the budget. However, these reasons only scratch the surface of why Excel remains the go-to tool for many organizations, despite more robust software alternatives. In fact, 32.8% of respondents in our 2024 FP&A Snapshot Survey said they still relied on Excel, even when using BI tools, FP&A software, or ERP systems.
Confidence in the global economy among accountants and finance professionals declined moderately in the third quarter and is now at its lowest since Q4 2023 and slightly below its historical average, according to the latest Global Economic Conditions Survey from the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA).
7 min read October 23rd, 2024 The most successful business leaders use financial insights to make data-driven decisions that improve operations and maximize productivity to strengthen the company's financial health and strategy. Key Takeaways Learn How to Customize Sage Intacct Dashboards for Financial Insights: To take advantage of the time-saving benefits of a customized dashboard in Sage Intacct, users must know how to manipulate Intacct's features to create their own, role-based dashboard.
Small and midsized businesses are facing growing staffing challenges, as rising business costs and economic conditions are prompting potential layoffs, according to the Fall 2024 Main Street Index from top 15 accounting firm CBIZ. Fifty-one percent of SMB owners surveyed say they are evaluating or changing current staff levels and outsourced partners to prepare for a potential economic downturn.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Jump to ↓ The strategic role of tax technology Budget disparities and satisfaction levels The rise of Generative AI (GenAI) Key findings at a glance The future trends of tax technology Strategic takeaways and future directions The tax and accounting landscape is undergoing a seismic shift, driven by rapid technological advancements. The inaugural Tax Firm Technology Report by the Thomson Reuters Institute sheds light on the current state of technology adoption, challenges, and future expectation
With the 2025 income tax filing season coming soon, the IRS is encouraging all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). This simple yet crucial step can provide an added layer of security, helping protect against tax-related identity theft. The IRS encourages taxpayers to sign up for IRS Online Account , which provides a quick and easy way to obtain an IP PIN.
Managing a real estate portfolio involves a plethora of expenses, some of which are uncontrollable. These costs—such as property taxes, insurance premiums, utilities and debt—are essential for conducting business but are beyond the direct control of property owners or managers. While these costs cannot be directly controlled, there are strategic ways to manage their financial impact.
Managing a real estate portfolio involves a plethora of expenses, some of which are uncontrollable. These costs—such as property taxes, insurance premiums, utilities and debt—are essential for conducting business but are beyond the direct control of property owners or managers. While these costs cannot be directly controlled, there are strategic ways to manage their financial impact.
Tax technology company Blue J announced on Oct. 22 an enterprise agreement with top 15 accounting firm Crowe in which Crowe will use Blue J’s flagship generative artificial intelligence product, Ask Blue J, to augment the firm’s current GenAI tools, bolstering both practitioner education and client outcomes. “After an extensive evaluation of tax-focused service providers, Crowe selected Ask Blue J, which accelerates the adoption of generative AI for tax through an extensive curated database of
In the fast-changing business environment of today, automation is essential for boosting efficiency and productivity. The integration of Microsoft 365 Copilot (referred to as Copilot for business in this article) into Power Automate is transforming how businesses handle automation by making the creation of automated workflows easier and more effective.
Fears about the integrity and reliability of crucial corporate reporting data are weighing on the minds of finance leaders around the world, but hopes are rising that Artificial Intelligence (AI) may offer some much-needed answers, according to the 2024 EY Global Corporate Reporting Survey. The ninth edition of the survey explores the views of more than 2,000 finance leaders and 815 institutional investors around the world on the state of corporate reporting.
FT is reporting that a group of advisory underperformers have been axed from the King’s Deloitte , about 250 of them to be exact. There’s apparently been no official announcement or communication to teams, just the unlucky “winners” being quietly swept away one-by-one. There’s not much more to the story, Deloitte didn’t want to comment and they’re leaning on the “performance management processes” as reasoning for why some folks had to go so e
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
Data released by the U.S. Census Bureau shows retail sales increased again in September as employment grew and inflation and interest rates fell, according to National Retail Federation chief cconomist Jack Kleinhenz. “While there have been some signs of tightening in consumer spending, September’s numbers show consumers are willing to spend where they see value,” Kleinhenz said.
The global professional services firm founded by a group of former Arthur Andersen partners has attracted influential economists to its advisory board.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Tax practitioners looking to stay up-to-date with the latest information may be missing out on a key resource offered by the IRS- The Nationwide Tax Forum Online (NTFO).
Running a firm can be stressful. Discover my top 8 stress-reduction tips that I used while running my firm and now in my current business. The post My 8 Best Tips to Reduce Stress in Your Firm appeared first on Future Firm.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Global professional services firm Andersen is launching the Andersen Institute for Finance and Economics under the leadership of Fabio Natalucci to focus on key global trends affecting the world economy, financial markets, and business decisions. Natalucci, a highly-regarded expert in global financial markets and macroeconomic policy, brings a wealth of experience from his tenure at the International Monetary Fund (IMF), where he served as Deputy Director of the Monetary and Capital Markets Dep
Intuit says it recognizes the talent pipeline shortage continues to be a hurdle for the accounting industry. To help firms attract and retain valuable employees, it is updating the QuickBooks ProAdvisor Program with the launch of the ProAdvisor Academy, a new training and certification experience designed to help grow the accounting profession as a whole and provide ProAdvisors and their teams with a deeper focus on education and resources to grow in their roles.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
AuditBoard , a cloud-based platform transforming audit, risk, compliance, and ESG management, has announced its collection of AI offerings now empowers teams to further automate core, time-consuming workflows and better stay ahead of proliferating risks. AuditBoard and Ascend2 Research recently conducted a survey finding 89 percent of organizations plan to use AI but face challenges like data privacy concerns and high costs, showcasing the balancing act organizations must perform to leverage th
In this how-to guide on “Automating Your Payment Strategy from Engagement-to-Cash,” you will unlock the secrets of effective automation and learn how to eliminate manual work across the payment cycle. What you’ll discover: Learn strategies for enhancing efficiency at key touchpoints like engagement letters, invoice delivery, payment collection and reconciliation, and more.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
As your startup grows, offering a solid benefits package helps you attract and retain the right talent. In our modern age, most employees expect their employer to provide health insurance for them. That means that even if you’re not legally required to offer this type of insurance, doing so might help you build the best team possible. If you do opt to offer health insurance as part of your benefits package, you might be required to offer an open enrollment period.
I am excited to share that I am experimenting with creating podcasts for my blog. I did a podcast to try it out and the topic is “The basics of accounting for long-term bonds payable” and it is aimed at students in introductory financial accounting.
Menzies LLP - A leading chartered accountancy firm. Managing cash is important for any business, but what happens if customers need to extend their credit terms beyond those already agreed and what are the risks of doing so? Offering credit terms to support sales is a normal and expected part of doing business in many sectors. However, there may be times when business owners come under pressure to extend credit terms beyond pre[1]agreed limits.
In a post on Reddit nine days ago entitled, “I got fired with no severance from big 4,” someone wrote, “I got fired. It was because I was doing a separate online course during a in class training that wasn’t even applicable to my sector so I’m not getting severance. “Any advice on what to do next and how to find job listings would be great,” the post continued.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
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