Posts Tagged accounting

New Accounting Technology, Improved Bookkeeping

In the not-so-distant past, bookkeeping was a labor-intensive process, with a bulk of the time spent entering transactions and reconciling bank statements. Today, new accounting technology has changed the role of the bookkeeper, and while some might see technology as a threat to its existence, others see it as an opportunity. A study by Carl Benedikt Frey and Michael A. Osborne at Oxford University predicted that accounting is one of the sectors most likely to suffer job loss due to technical innovation and automation.

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GAAP to IFRS: the Ultimate Resource Roundup

Until recently, finance and accounting systems have varied between companies. Globalization, however, has pushed for the inevitable – with more businesses engaging in international activity, the need for consolidated accounting systems is stronger than ever. Globalization, the Sarbanes-Oxley Act, and the SEC adoption of international standards has been placing pressure on the U.S. and other countries to close gaps between International Financial Reporting Systems (IFRS) and the U.S. Generally Accepted Accounting Principles (GAAP).

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