The new term highlights the friction between the return-to-office push and flexible work schedules.
Mfon Akpan, CGMA, DBA, an assistant professor of accounting at Methodist University, and Scott Dell, CPA, DBA, an assistant professor of accounting at Francis Marion University, explain why CPAs and other professionals can be left behind professionally if they don't spend time learning about tools such as ChatGPT. They talk about productivity gains, the competitive divide that could develop, and how, in the short term, more training is needed to fully harness generative AI.
Treasury's Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM) on Wednesday that would extend the deadline for companies created or registered in 2024 to file their first beneficial ownership information (BOI) reports. The NPRM (RIN 1506-AB62) would provide 90 days for those companies to file initial reports rather than the original deadline of 30 days from the earlier of the date on which the company receives actual notice that its creation or registration has become effective or the date on which the secretary of state first provides public notice that the company has been created or registered.
The platform plans to add AI to help recruiters, sales professionals’ searching for prospects, and those conducting B2B marketing campaigns.
Allocations toward employee well-being are crucial as it is directly connected to productivity, engagement, and retention.
The August cyberattack was far more debilitating than hospital officials publicly acknowledged. Now, it threatens a sale of the hospitals to Yale.
When Accounting Today began presenting this annual selection of technological tools several years ago, "apps" were generally small, limited solutions, often single-purpose, that were primarily meant for mobile use on a phone or tablet; on the rare occasions when they were versions of larger software tools, it was understood that they would be cut down to a minimal number of functions.
Many people have an unhealthy relationship with work, the report shows. It offers recommendations for business leaders to help employees feel more fulfilled.
Technology for payment processing is one remedy for overworked finance teams, according to new data.
If implementing generative AI can make the finance function more agile, it has the potential to be a source of competitive advantage, says Gartner.
If AI tools used for hiring are not thoughtfully implemented, it can create new challenges in the form of biased decision-making and possible litigation.
Employer and employee priorities continue to clash, a new EY report finds. Leaders “should not underestimate the importance of trust and empathy”.
Accounting firms continue to grapple with significant labor shortages, as veteran employees retire in droves and fewer young graduates enter the field. CTCPA Executive Director Bonnie Stewart, Whittlesey CEO and Managing Partner Drew Andrews, and FML Partner Brian Kelleher were all quoted in the Hartford Business Journal article 'Numbers Crunch: Accounting firms turn to recruiters, high schools, apprenticeships in urgent search for new talent.' More than 300,000 U.S. accountants and auditors left their jobs in the past few years, according to Bureau of Labor Statistics data, leading to a 17% decline in employed accountants compared to 2019.
The good news is that 66% of all Connecticut businesses surveyed believe they will turn a profit. The bad news from the latest Connecticut Business & Industry Association survey is that about a third believe the business climate in Connecticut is declining, and a whopping 81% are struggling to find experienced workers.
Many executives step away from employment to focus on their health and wellness while taking stock of their careers. Here’s how three of them did it.
As accounting firms are increasingly targeted with cyberattacks, cybersecurity has become essential for every professional. Between data breaches, phishing attacks and malware, criminals are going after the sensitive financial data held by accountants. The modern accountant, then, must take their cyber defenses seriously for the sake of themselves and their clients.
CFOs haven't felt this good about the economy in more than a year. Fifty-seven percent of North American CFOs rate current economic conditions as good or very good — up from 34% last quarter — according to Deloitte's 2023 Q3 CFO Signals survey. That's the highest mark since the first quarter of last year, when 64% of CFOs were positive about the economy. CFOs are also optimistic about their own companies' financial prospects and their expectations for year-over-year growth.
On August 30, the Biden administration issued a Notice of Proposed Rulemaking from the Department of Labor to extend overtime pay eligibility to more than 3 million workers. The initiative comes following a similar attempt by the Obama administration over eight years ago to revise overtime eligibility regulations under the Fair Labor Standards Act (FLSA). Under the new proposal, employers would be required to provide time-and-a-half pay for eligible workers who work beyond 40 hours per week. The previous threshold for this requirement set in 2019 by the Trump administration—$35,568—would be increased to $55,000.
Deciding if employees should return to the office is a decision CFOs should weigh with consideration for both employee and company needs.
Executives and employees believe artificial intelligence is good for business, but employees say some companies are not clear about how they intend to use AI.