Institute of Management Accountants president and CEO Jeff Thomson told an online meeting Wednesday of the Accountants Club of America about how the profession can appeal more to young people by emphasizing technology know-how in areas like data analytics and data science.
"This really is a race for relevance and the future of our profession," said Thomson. "It really is about velocity, the rate of change of technology and our ability to absorb and leverage technology for betterment of our effectiveness and efficiency."
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AICPA awards COVID-19 'Student Hardship' grants | Accounting Today
The American Institute of CPAs has awarded $50,000 in education grants to help undergraduate and graduate accounting students who have been monetarily impacted by the ongoing COVID-19 pandemic.
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Funded by the AICPA Foundation, the COVID-19 Student Hardship Grant provides $2,000 each to 25 students undergoing economic hardships, such as a loss of job or internship due to COVID-19, to help reimburse education-related expenses. Recipients of the COVID-19 Student Hardship Grants represent 25 colleges and universities across 17 states and are comprised of 14 undergraduate and 11 graduate-level accounting students.
4 key guidelines for young accountants | Accounting Today
Entering the workforce for the first time is challenging in and of itself. From acclimating to your company's culture and learning the ins and outs of the organization to understanding your responsibilities and how your role fits into the strategic vision of the business — it can be daunting, even under the best of circumstances. Now, add in the backdrop of a global pandemic, economic turmoil and social unrest, and an already milestone-level experience becomes inherently more complicated.
Manage All Your Accounting and Get 1 Year of QuickBooks Online Essentials for 43% off
Many of us dream of owning our own business without thinking about the skills needed to succeed. One such skill is accounting, the practice of tracking bills, recording payments, setting budgets, and more. If you're building your own business from the ground up, you’ll need to get pretty familiar with accounting.
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FASB issues guidance on debt restructurings and modifications | Accounting Today
The document includes examples of some common restructurings and modifications. FASB's staff developed the educational paper after hearing requests from various stakeholders, including its Private Company Council.
But while the paper provides a helpful educational resource, FASB cautioned that companies should still consider the specific facts and circumstances of modifications to and restructurings of their debt arrangements to decide on the appropriate accounting to use.
Growth drivers for accounting firms in the post-pandemic era | Accounting Today
COVID-19 has brought a pressing need to enable remote work at scale across all industries. As a result, accounting firms (known for in-person client experiences) are facing unique challenges. In accounting, top line revenues are still driven by chargeable hours, thus making it extremely important to maintain and enhance employee productivity while working remotely.
Accounting firms are also realizing that the post-pandemic world will focus on delivering more value to customers at lower cost, redefining the workspace, creating new technology-driven services and responding with agility to regulatory changes. The pandemic is essentially acting as a digital accelerator for accounting firms, driving a paradigm shift from brick-and-mortar to digital ways of work, in turn enabling growth, optimizing costs and improving the experience for employees and
Outlook on the Construction Accounting Software Global Market to 2027 - by Component, Deployment
According to this report the market was valued at US$ 647.22million in 2019 and is projected to reach US$ 1033.46million by 2027; it is expected to grow at a CAGR of 6.1% from 2020 to 2027.
The US, Canada, and Mexico are the major economies contributing to the North America construction accounting software market. Continuous technological advancements led by tech giants along with notable investments in R&D activities, has created a stir in the region's competitive market. As the region is known for adopting advanced technologies in its early stage, the scope for construction accounting software would also increase.
Practice Profile: Surviving a pandemic | Accounting Today
As businesses struggle to weather the COVID-19 pandemic, or in some cases experience a surge of business because of it, they seek a range of services beyond CPA firms' typical compliance and even advisory assistance. Recognizing this opportunity, Cleveland-headquartered Top 10 firm CBIZ & MHM launched Accelerated Recovery Solutions, a new suite of services to aid these businesses in their recovery and growth efforts.
The services can be tailored to companies at various stages of expansion or survival, explained Randy Thorne, vice president of growth initiatives at CBIZ, who oversees the firm's financial services business unit and leads the Accelerated Recovery Solutions initiative.
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