Budgeting is one of the most important aspects of our lives. Whether you’re creating a personal budget to get your finances in order, or working with a major accounting firm at a national or global scale, your budget can have implications on every action you take or decision you make. So it’s imperative to maintain a strong, well-considered budget. At the personal level, a monthly budget will keep you organized and focused on your personal financial goals. If you’ve never created or maintained a budget before, it might seem intimidating, but it doesn’t need to be. These steps will help get you […]

The accounting profession continues to feel the effects of the technology disruption that has impacted all industries. One consequence is that more companies will choose to outsource their accounting functions in 2020 and 2021, according to Finances Online. That’s good news for accountants who plan on starting an accounting firm. Running an accounting business requires a different set of skills and experience than working as an employee. As with any small business, establishing an accounting practice entails a great deal of work, but as Thomson Reuters notes, accounting firms are currently among the most profitable of all small businesses. The […]

Making prudent financial decisions is about more than just knowing the present financial situation. It’s about understanding the past and all the possibilities the future holds. These decisions require a big-picture approach, and the experts who make them must keep an eye on all types of revenue and expense streams to paint the most comprehensive financial picture possible. Such professionals need a specific mix of technical abilities and analytical skills to perform their work. Controller Overview Controllers oversee a company’s financial picture. They are in charge of the accounting and bookkeeping. Controllers ensure the work done by accountants is accurate […]

Each decision a business makes matters. Every expenditure or investment provides opportunities for financial gain or a loss that could have major repercussions. Businesses, organizations, and local and national governments rely on financial professionals to help them analyze their potential expenditures and investments, ensuring they make intelligent decisions for their financial benefit and long-term sustainability. Two types of professionals who help organizations understand their financial standing and make informed decisions are budget analysts and financial analysts. These financial experts fill a crucial role in the decisions of many businesses, helping them rein in spending or mitigate the effects of bad […]

At a time in U.S. history when the national debt is at a record high of $22 trillion, the welfare of the country relies on proper planning and budgeting. On a smaller scale, the economic welfare of individuals also requires proper money management, and millennials and Generation Zers have special concerns and needs. Millennials are those born between 1981 and 1996. This generation came of age during the digital era and are known for their comfort with technology and social media. Millennials currently make up one quarter of the U.S. population and have ushered in one of the biggest societal […]

The practice of accounting has been around for almost as long as civilization itself. When early cultures developed the concept of money and trade, they also began to record these exchanges to ensure they received everything owed to them. Using rudimentary mathematics, they found ways to keep track of credits and debts. Though the field of accounting has changed since its early days, the discipline is still incredibly useful. As global markets have grown and developed, accounting has diverged into many subfields. In each of these, trained professionals manage budgets, keep financial records, and analyze data. Continue reading to find […]

The financial landscape is changing. In 2018, The Wall Street Journal reported on a recent survey from Deloitte that highlighted a major trend impacting the finance industry workforce. According to the study, 63% of CFOs predict finance professionals will need skills in data analysis, prediction modeling, and decision support within the next three years. However, 11.5% of the surveyed CFOs do not feel their workforce currently has the skills needed for today’s finance function, and they expect that percentage to continue to grow. This represents an incredible opportunity if you’re interested in a career within the financial sector. The future […]

Intelligent technology is shaping the future of accounting by impacting the types of jobs that will become available. As advanced systems handle repetitive work, humans will deal with more of the analysis, becoming the crucial link between data and clients. Technology will continue to impact the role of the accountant and the demand for accountants in the future. To gain a more complete understanding of new integrated accounting technologies and advanced analysis techniques, individuals may want to earn an online master’s in accounting degree, which can help students develop skills in areas such as managerial accounting, data analytics, and advanced financial reporting. […]