Accounting Technology Is at an Inflection Point

?️Exclusively for you! We bring you back the most-clicked stories ?️ of the curated Accounting Apps newsletter for the w/c 22.5.22:

Accounting Technology Is at an Inflection Point | (AccountingWEB)

At the recent AccountingWEB Live Summit event, tax and accounting professionals and the vendor community that serves them came together to listen to thought leader Clayton Oates explain how vendors and accountants need each other. But, with technology so prevalent in their lives, that relationship can become strained. Moreover, it is time accountants stepped in to take more control of that dynamic and their future.

Reckon Sells Accounting Division for $100 Million | (Reckon) 

Following a massive development this week, Reckon can proudly announce that its Accountants Group has been sold to The Access Group, in a $100 million deal. The Accounting division of Reckon provides products such as APS practice management software and Reckon Elite. Reckon remains a stronger company and as a result of the deal will be ramping up focus on its bread and butter – cloud accounting and payroll solutions for small businesses and practice management for legal firms. Let’s break down the announcement.

Ask These 3 Interview Questions to Hire the Best Accountant for Your Firm | (Bloomberg Tax) 

When hiring a new accountant for your firm, it’s important to go deeper than the usual, generic questions related to past work experience. CMA Exam Academy’s Nathan Liao shares three questions that will help you stay strategic when searching for the right applicants. Has your accounting firm’s client base expanded to the point where it’s now hard to stay on top of everyone’s books? Are you and the other accountants completely spread thin due to the workload?

Benchmark Your Accounting Practice: See How Yours Compares to 1,000+ Global Firms | (Karbon) 

Karbon’s Practice Excellence Assessment is a tool used to help accounting firms better understand how they are performing across all areas of Practice Excellence, including how they stack up against other firms. Every two years, data is collected and the overall results are analysed, identifying the key areas separating leading firms from the rest, with an in-depth analysis of the most impactful findings. This report analyses the data from these firms, painting a picture of how accounting firms are performing over the world.

Understanding Revenue Recognition Methods | (Chargebee) 

Monitoring a company’s cash flow is a quick way to understand how well the business is doing. But there can be different metrics in revenue reporting. Accurately reporting revenue may get tricky as subscription businesses expand and customize their offerings. The amount of revenue that may be earned in a given period may not be the same as the amount billed or cash collected. 

Which one of these highlights have you enjoyed the most during this week?