Accounting trends to look out for

The accounting industry is experiencing a wave of changes in recent years. Technological innovations, new regulatory compliances, and the transition to a more global business structure are requiring accounting professionals to learn and apply a new set of skills to maintain their current marketability.
Are you up to date in the following areas?

• International reporting standards through the convergence of GAAP and IFRS
• Migration towards the use of fair market valuation
• Adaptation of XBRL in financial reporting
• Proposal to change the way contingent liabilities are reported (FAS 5)
• Corporate social responsibilities and their effects on the bottom line
• Risk management strategies in dealing with foreign businesses
• Understanding and familiarity with other cultures

Read More:
New-age skills for accounting professionals
Accounting: skills and talent
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