The accounting profession faces a severe talent crisis. CFOs report significant gaps in their finance teams, with 84% struggling to find qualified staff. The crisis has grown so severe that 90% of finance leaders now outsource their accounting work. ...
Harnessing the Influence of Microsoft Power BI in Accounting
In today's modern business environment driven by data analytics, the role of technology in accounting continues to develop. One tool that has gained significant traction in recent years is Microsoft Power BI. Let's explore what Power BI is, its feat ...
Feeling the HMRC heat? Proactive Strategies to protect your Clients & your Firm too
Are the words "HMRC audit" enough to send a shiver down your spine? You're not alone. HMRC audits are on the rise, leaving many accounting firms and their clients scrambling. But don't panic! There's plenty you can do to protect your clients and you ...
Spring Budget 2024: Economic projections & Impact on accounting professional
The UK's Spring Budget 2024, recently announced by Chancellor Nigel Huddleston, marks a pivotal moment in the nation's fiscal direction. Against the backdrop of recent economic challenges, including the COVID-19 pandemic and geopolitical uncertainti ...
March is Leading Month for Marriage Allowance Claims
As the end of the tax year approaches, couples in the United Kingdom have an opportunity to enhance their financial well-being through the Marriage Allowance scheme. This initiative, overseen by HM Revenue and Customs (HMRC), empowers married couple ...
Have you contemplated paying attention to 15 accounting trends in 2024?
To understand the significant changes happening in the accounting field, take an evaluation at the recent updates to the CPA exam. The well-established licensing standard, in use for over a century, has now shifted its focus. The emphasis is on gras ...
Understanding the impact of Cash Burn Rate and Revenue Growth for Accounting Startups
As a metric, burn rate stands out for its simplicity yet crucial role in the startup ecosystem. It has become a language spoken not only by investors but also by startup enthusiasts, fostering pivotal discussions around what constitutes a typical st ...
Understanding the clients is an essential skill required for Accounting Industry to flourish
Crucial Wisdom for Accountants In the dynamic landscape of the accounting profession, the adage "Understanding our clients isn't just good business, it's the soul of our accounting profession" resonates more deeply than ever. Beyond mere financia ...
Skilled Staff Shortage in Accounting & Finance Industry across the UK
This sector is vital in empowering business houses to thrive, assisting investors in making informed decisions, and ensuring regulatory compliance. However, the United Kingdom is passing through the most turbulent phase - a skilled staff shortage ...
Business reporting on Sustainability strengthens substantially
With global awareness of addressing environmental sustainability issues, there is an urgent need to create a safer, sustainable planet. The ISSB, supported by G7 and G20, aims to establish a consistent global baseline and facilitate two-way engageme ...