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As the UK gears up for a (https://www.accountancyage.com/2024/05/23/pre-election-finance-bill-tax-cuts/) general election, small and medium-sized enterprises (SMEs) are expressing heightened concern over political uncertainty. According to recent research conducted by (https://www.shawbrook.co.uk/) Shawbrook, [...]

IN Brief Crypto assets represent a fast-moving asset class, and nonfungible tokens (NFT) are an especially fast-growing subset of that class, which have attracted outsized attention in the press and [...]

In addition to falling leaves and holiday festivities, the fourth quarter brings for many financial reporting professionals another tradition: the annual goodwill impairment assessment. Each year requires a thoughtful review [...]

While MTD may no longer be grabbing headlines due to setbacks the journey towards modernising financial processes continues to gain momentum. MTD signals more than just compliance; it's a push [...]

Calling all accountants, brace yourselves -- the world as you know it is about to change. And no, I am not talking about another tax code amendment. It is bigger. [...]

Looking back on the past year, while some trends endured there were some new ones that threw fresh challenges at accountants, but which also opened the door for opportunity. Jonathan [...]

Artificial Intelligence (AI) is rapidly transforming various industries, and the accounting profession is no exception. This technological trend is reshaping the way accountants perform their tasks, offering unprecedented opportunities for [...]

In Brief The seventh annual 2021 NYSSCPA-Rosenberg Survey identifies trends from the national 23rd Annual Practice Management Survey and provides profitability and growth data of participating New York CPA firms. [...]

Chat GPT is an artificial intelligence (AI) chatbot developed by the OpenAI organization. Many readers may already be familiar with chatbots, which are software applications that simulate human conversation via [...]

Management accounting, like many fields, is being disrupted by new technologies, including big data, predictive analytics, artificial intelligence, blockchain, machine learning, and robotics process automation. Established accounting and finance professionals [...]

Accountants and auditors are faced with a bleak outlook. There is a constant narrative telling us that accountants and auditors are not relevant anymore; reports that investors don't care about [...]

According to the International Integrated Reporting Council (TIRC), 'Sustainability reporting is central to integrated reporting. Robust sustainability metrics are included in integrated reports, based on the International IR Framework' ('Global [...]

From the very first certified public accountancy law (passed in 1896 in New York State) to the present day, the accounting profession and the nature of being a CPA have [...]

IN BRIEF Many CPAs who work in public practice and corporate accounting harbor the idea of returning to college to share their professional experiences and help train future accountants. For [...]

CHARLES PLANT'S CAREER PATH MAY NOT BE YOUR CLASSIC STORY, but it is a modern-day one. One in which he used his CA training as a launch pad into varied [...]

Byline: Antoinette Alexander Being a not-for-profit organization isn't easy - and as many accounting professionals have learned, providing them with audit, tax and advisory services can be even tougher. For [...]

This paper exploits the interpretive content of city-based directories to demonstrate the emergence of 'public accountants' as a professional grouping in England during the period 1800-1880, and it applies Andrew Abbott's The System of the Professions (1988) to explain the broader significance of that finding. We reveal that, by the 1870s, 'public accountants' in England had achieved public recognition as expert suppliers of services over which they possessed an effective jurisdiction, and we conclude that Abbott's theory provides a meaningful framework for explaining the history of public accounting prior to organisational fusion in 1880. We also consider why the label 'public accountant' failed to satisfy the conditions identified by Abbott's analytical framework for the continuing success of their professional project, and conclude that the need for a more effective means of occupational differentiation led to the reconstruction of a public accountancy profession based instead on the title 'chartered accountant'.

Governments and professional organizations are exploring methods to retain institutional knowledge and to ensure and adequate supply of new employees with the skills necessary for good stewardship and accountability. Educating the next generation of employees requires faculty interested in government financial management is necessary as the data's suggest that the total number of accounting doctorates has more than doubled in the past 25 years, but the pace has greatly slowed in last 10 years from 1995 to 2006.

The application of Darwin's theory to accounting firms is readily apparent in the results of this year's Practical Accountant's survey of accounting firms. There have been almost cataclysmic changes over [...]

'You deserve a break today.' That's pretty much what Concannon, Miller & Co. is telling its approximately 700 McDonald's clients when pitching its new online payroll services. The Allentown, Pa. [...]

Five experts discussed a project being developed by the CPA profession aimed at helping accountants prepare for the formidable challenges facing them in the future. Called the Vision Project, this initiative requires professional members to create scenarios describing the interaction among the political, economic, social, technological, human resources and regulatory factors that may affect the profession in the future. Jack Brooks, former executive director of the Connecticut Society of CPAs, explained that the project is quite relevant because most CPAs are too engrossed with their current work that they forget to prepare for tumultuous times ahead of them. Tax lecturer Sidney Kess commented that the project can help CPAs who feel that they are not up to the challenges transforming their practice. The other participants in the discussion were Walter Primoff and James Woehlke of the New York State Society of CPAs, and life insurance expert Lee Slavutin.

In a climate of increasing uncertainty, organisations the world over are calling for greater competence when it comes to financial discipline and effective strategy. The financial crisis, the eurozone meltdown [...]

Byline: Gary Bolinger People. Human capital. Talent. Call it what you are comfortable with. The profession needs to attract and retain high-quality people. People who not only have a good [...]

Byline: Thomas J. Williams and Iris K. Palma We all dream of the client who grins from ear to ear whenever they see or hear from their accountant. In our [...]

Crystal balls, tarot cards and astrology charts have no place in the precise world of accounting. Yet the environment that demands such precision is changing at a dizzying rate. Keeping [...]

Forecasts on what awaits new accountants in the year 2017 are presented. It is suggested that 25 years from 1992 fraud will still be a concern of the accounting profession although accountants will already be forced by law to report incidents of fraud to the SEC. Accountants of the future are also expected to benefit from advanced audit software which allows individual and partner-level reviews throughout the audit process. Quarterly reports will also become as complex as annual reports and clients can receive daily reports on their internal status.

Chartered accountants are visualizing a bright picture for their practice in the 21st century. Probable political events and their effects on the Canadian national economy are predicted. Canada's industrial strength is examined in the context of its international usability. The forecast of an impending major bankruptcy is posited in relation to its effect on auditors' and accountants' liability for malpractice.

Outlooks on taxation and the role of information technology on accounting services by 2025 AD are presented. Technology by 2025 AD is expected to address fears that home-based workers would be isolated. Another forecast is that European Union has adopted a common corporate tax base by then.

Pension plans and fiduciary responsibility rocketed into the regulatory spotlight with Enron's collapse, and with United Airlines recent high-profile pension plan failure, the increased scrutiny won't be subsiding anytime soon. [...]

Unlike in the past, the role of accountants now encompasses additional duty of reporting on environmental aspects. The features and the usage of this report, or the triple bottom line as it is called, are discussed. The difficulties in the assessments of environmental data are highlighted.

The average age of a Chartered Accountant in practice in Ireland is currently 47. With many practitioners hoping to retire before 60, succession planning will be very much on the [...]