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AI, applied: Lessons from 2020
The year of coronavirus will go down in history not just as a time of plague, but also of crisis-driven tech adoption. Mass migration online drove the adoption of cloud-enabled technologies, and AI was one of them. As businesses embrace AI,...
AI, applied: What to expect from AI 2.0
Artificial intelligence is in its glory days now, with its promised applications being realized in a range of service areas for accountants. But AI is for more than just automating processes and creating efficiencies — now is the time for firms...
Upskilling finance team with business partnering skills
In the current rush to digitise and automate processes, we can sometimes forget that automation is a means to an end, and that end is finance business partnering. It’s a role that drives value for the company and its stakeholders. It’s also a...
Funding to fix CT’s roads and bridges is drying up, and officials don’t have a solution
While the coronavirus dominated summer headlines, Connecticut’s five-year effort to accelerate the transportation rebuilding program slowed to a stroll on July 1. A risky initiative to force tolls — by borrowing and spending billions of extra...
When can CPAs, as essential workers, get the vaccine?
January 18, 2021 We've received a number of questions regarding whether accountants, who were classified as essential workers early in the pandemic, are now eligible to receive the vaccine. Accountants are not included in phase 1a or 1b. If you...
Connecticut officials forecast budget surplus of $70 million this year after earlier predictions of $2B deficit; Wall Street records boost tax revenue
In a stunning turnaround, state budget officials predicted Friday that Connecticut will end the fiscal year with a small surplus of $70 million — despite financial problems related to the ongoing COVID-19 pandemic.
2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic
The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. The February 12 start date for individual tax return...
IMA CEO Thomson foresees 'megatrends' for accountants this year
Institute of Management Accountants president and CEO Jeff Thomson is predicting six megatrends in the finance and accounting profession this year.
Refund delays, stimulus check errors foreshadow rough tax season
Tax-refund delays and stimulus-payment hiccups could spill into the upcoming tax season as the Internal Revenue Service continues to face challenges related to the coronavirus pandemic and as Congress considers yet another round of direct payments.
Rolling out finance automation with the right priorities
In moving traditional finance and accounting (F&A) departments towards finance business partnering, automation becomes a key criterion. Without freeing up employee hours from routine tasks, F&A would be “trapped” producing routine reports most of...