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Revolutionizing Lease Accounting: Using Technology and Software to Streamline Business Efficiency

CPA Practice

By Ane Ohm, LeaseCrunch As we step into 2024, it’s crystal clear: leveraging technology and software is an absolute must for any organization eyeing substantial growth. An insightful takeaway from 2023 is that for CPA firms and entities handling the intricate world of ongoing lease accounting this becomes even more critical.

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Auditing in Accounting: What it is and how it works

ThomsonReuters

The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . With advanced technology shifting the way accountants work, many are looking to expand into specialized services that can give them a leg up on the competition. Financial statements (i.e.,

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Understanding ESG audits: Checklist and best practices

ThomsonReuters

Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. One of these specialties is ESG audits. . What is an ESG audit? Like any audit, ESG audits can be internal or external. ESG audit checklist.

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How to comply with the complexities of interim tax reporting

ThomsonReuters

Furthermore, interim tax reporting contributes to the accuracy and reliability of financial statements. By ensuring that interim tax provisions are properly recorded and reported, companies can enhance the credibility and transparency of their financial information.

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5 Ways Accountants Can Use AI Right Now

CPA Practice

The advanced reasoning capabilities of GenAI models enable billing teams to automate matching between documents (Order Form / Purchase Order) and/or document against system data (Salesforce CPQ fields / Purchase Order). This results in an amount of risk that can result in a material misstatement in their financial statements.

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AI in Accounting: A Guide Written by Artificial Intelligence

Ryan Lazanis

How to Get Started With Accounting Intelligence How AI Was Used to Write This Article What is AI in Accounting? AI in accounting refers to the use of artificial intelligence (AI) technologies, such as machine learning algorithms and natural language processing, to automate and enhance various accounting processes.

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Top accounting issues in 2023

ThomsonReuters

The accounting profession has faced a profound shift in recent years: from significant regulatory changes to an influx of innovative technologies, to reimagined business models, to an increase in client expectations. The lease accounting standard became effective in 2019 for public companies.

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