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According to benchmark research from PwC, corporate accountants are finally spending less time on data gathering and more time on insightful analysis.

The business world has always had a need for skilled accounting professionals but until recently, an inordinate part of their role has been a matter of manual data collection – essentially copying and pasting – from different source systems, departments or other entities. After four years in school and countless hours of professional accreditation and development, it’s easy to see how frustrating it must be when half your job involves clicking CTRL-C and CTRL-V.

Fortunately, times are changing and the role of corporate accountant is shifting.

The shift, according to a recent article in Financial Director, is that accountants now focus less on simply gathering data and more on performing advanced analytical tasks with that data. The article cited findings from the PricewaterhouseCooper 2015 Finance Effectiveness Benchmark, which showed that the average finance professional now spends about 50 percent of their time on analysis versus data gathering, up from 36 percent three years ago (see figure).

Continue reading From Ctrl-V to Process Control: Professional accounting no longer a data collection job

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No one particularly enjoys tax season, whether they’re mere individuals filing their financial paperwork for the year or CFOs at large corporations overseeing billion-dollar budgets.

No one particularly enjoys tax season, whether they’re individuals filing their financial paperwork for the year or CFOs at large corporations overseeing billion-dollar budgets. For all of the above, paying taxes can be painful – it’s expensive, it’s logistically messy and it requires having a great deal of information at your fingertips.

For a large enterprise, there’s no better time than tax season to revamp your approach to financial accounting and make sure you have a good handle on all tax-related matters. This can be quite the challenge, as it requires understanding all of your financials including your projected revenue and annual expenses. It’s also a matter of looking to the future and forecasting how your needs might change.

Continue reading Effective Tax Forecasting Requires Looking at the Big Picture

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