Accounting Blog for Business

The year 2018 is now one for the books. As we welcome 2019, it is important to plan ahead and keep your competitive edge. To help you in this regard, here are the finance and accounting industry trends you should look out for this year:

In a previous article, we discussed how artificial intelligence is being utilized in finance and accounting tasks. Here, we will uncover current roles and the potentials that artificial intelligence can bring in auditing.

In 1950, Alan Turing proposed a question in his paper “can machines think?”. This marked the beginning of the development of artificial technology. Today, AI has opened up new opportunities for progress in almost every field there is. However, in spite of the leaps that we have made in artificial intelligence, experts have failed to agree in a single universally accepted definition of what is artificial intelligence.

Opening your first franchise business can be exciting. Whether it’s your business that you opened for franchising or whether you signed up to open your own franchise, it’s a significant step towards financial success. As with any other opportunity, franchising presents a specific set of challenges and opportunities. One of the key things to prepare for as you’re setting out on this new venture is to get your franchise accounting infrastructure down pat.

In the past few months, the discussions surrounding robotic accounting, automation, AI, and other recent developments in accounting technology have been fraught with anxiety and dread, even. Given how machine learning and big data are transforming the industry and impacting how you relate to clients, it’s incumbent upon you as an accountant to understand how to future-proof your career.

Things in the financial and accounting (F&A) industry are shaking up. New trends in accounting technology and consumer demands are changing the way how accounting professionals carry out their tasks. While these developments pose no threat per se to the financial and accounting profession, it is important for accounting firms to adapt to these changing trends to ensure their survival.