In 1829, Stephenson's Rocket, an early steam locomotive, made its first run. It was a slow and ponderous journey, beset with difficulties. But that first journey changed the nature of transportation forever. Within a few short years steam trains were rushing along at 100mph.
That's a little where artificial intelligence is in our current moment. The initial breakthrough has led to an almost breakneck rush to develop the next iteration of AI. It's like the AI equivalent of a Japanese bullet train.
Quite a lot has been going on:
Art of Accounting: 120 free checklists | Accounting Today
My tax season checklists have been updated and are ready for you in a Word file so you can use them as you want. There are now 120 checklists on tax season and many other topics that come up on a regular basis.
I am offering them for free to my colleagues as a way to give back to this wonderful profession I have been a part of for over 50 years. If others before me did not share, I certainly would not have been as successful as I was or had as much enjoyment practicing. This is one of my ways of paying them — by paying it forward.
Clients Applaud BPM's Accounting Technology Solutions Services
BPM, one of the 50 largest public accounting and advisory firms in the country, has been recognized as Sage Intacct's Partner of the Quarter by the accounting software company. The Firm won the award in Q1 2020 after helping clients in the family office and nonprofit spaces transition their accounting systems to Sage Intacct's cloud computing platform and received positive feedback through the process.
BPM has partnered with Sage Intacct for three years to provide clients in a wide variety of industries a customizable cloud-based accounting technology platform to modern business and accounting processes.
Key Steps to the Lease Accounting Close - CFO
To comply with the new lease accounting standards, organizations have had to implement new business processes, new organizational structures, and new information systems. Most organizations have muscled through the first year of adoption using a combination of brute force and high-priced consultants. However, those approaches will not scale over the long term.
The technical accounting changes promulgated under the new standards are just one aspect. Accountants will have to make significant judgments to conform with the new lease accounting rules. Those judgments must be regularly re-evaluated and updated as facts and circumstances become known, and contingencies resolved.
Other things to check out:
Warren Buffett: Complex Accounting Is a Warning Sign
To go into investing without at least a basic understanding of accounting would be like setting out to work in France without knowing French. I was recently struck by something that Buffett said at the 1995 Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) annual shareholder conference, when he was asked for advice on what to do when faced with a business with complicated accounting.
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Of course, if you are not a confident accountant, then filing that seems confusing to you may in fact be straightforward to a professional. But let's assume that you have done your homework and have a good grasp of the subject. Buffett believes that if a company's financial statements are complicated, then that is probably by design.
The many hurdles to implementing lease accounting | Accounting Today
Family of former Nike executive donates $3 million to support accounting scholarships | WSU
PULLMAN, Wash. – As a young boy growing up on a farm and orchard in the Clarkston Heights, Delbert Hayes ('57) developed a strong work ethic and an aptitude for business. By age 11, he was managing the family's tax returns. As he matured, he was known for being decisive, strong-willed, passionate, loyal and generous—key traits that prepared him to be successful in his accounting studies at Washington State University and in his career as Nike's executive vice president.
AccountantsWorld creates open API for HR apps | Accounting Today
AccountantsWorld, which provides cloud accounting and payroll software solutions, has created an open application programming interface (API) for human resource management applications.
Because AccountantsWorld offers its own payroll product (Payroll Relief), this API capability will be welcomed by accountants wishing to expand their service offerings to include HR.
The two-way Payroll Relief API allows permitted data to move between it and HR and human capital management (HCM) solutions. As of now, two HR solutions — SwipeClock's Workforce HUB, and Guhroo — are in the final phases of integration, with more integrations on the way.
For business clients, the benefits of the API are hoped to lie in productivity gains. With it, businesses may be able to avoid duplication of employee and relevant payroll and payroll compliance data across disparate systems.
Happening on Twitter
Do you know about the phone call that changed our lives? @IBM Watson does! IBM's AI tech is uncovering insights on… https://t.co/aB1g7BXmDw BlackPumasMusic (from Austin, TX) Sun Jan 26 19:40:37 +0000 2020
Does artificial intelligence have a place in the classroom? In our latest podcast episode we talk to Charles Fadel… https://t.co/svcKRaAgve OECDEduSkills (from Paris, France) Mon Jan 27 09:30:19 +0000 2020
.@maggierogers going viral may have helped her career, but she was already putting in the work, just like @IBM Wats… https://t.co/vOXy97YjLv CBS Mon Jan 27 18:15:00 +0000 2020
NEW on Clearview AI, the company that scrapes social media pics + does facial recognition for police, from @RMac18,… https://t.co/bE7EqvAomq carolineha_ (from NYC) Thu Jan 23 13:20:18 +0000 2020
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