Top 10 Accounting Trends To Reshape Business Processes In 2019

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Accounting is Significant for a Business
Accounting is the systematic process of
maintaining, processing, measuring, and
communicating financial and non-financial records
of an economic entity like corporations and
businesses. There are various subcategories of
accounting, which includes management accounting,
auditing, financial accounting, accounting
information systems, and taxation. In particular,
financial accounting refers to reporting of
financial information of an organization for
preparing financial statements and informing the
same to external users like suppliers, investors,
and regulators. For a business, maintaining
financial records on a daily basis for every
activity is essential. It is indeed crucial to
keep an eye on the expenses and income of a
company to tab on the current financial position
to make informed decisions on the basis of the
various accounting reports. Accounting trends
keep on changing, and here are the top 10
emerging trends that are most likely to govern
2019.
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Cloud-based Accounting
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Accounting Automation to Take Over
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Outsourcing Accounting
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Integrating Accounting Function with Other
Business Processes
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Demand for Transparency in Accounting to Grow
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Cloud-based Accounting to Evolve
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More Accountants to Embrace Social Media
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Accounting Standards to Continue Changing
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Proactive Decision-making in Accounting
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Accountants to Go Mobile
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Accountants to Go Mobile
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