MODEM ACCOUNTING TRENDS [PART : 5]
ALL ABOUT ACCOUNTING : 55th BLOG 💎 ACCOUNTING💎 ⭐ MODEM ACCOUNTING TRENDS : Hi friends 🙏 Today's discuss fifth accounting trends... So let's discuss .... 5️⃣ FOCUS ON DATA ANALYTICS : As technology allows specific accounting tasks to become easier, the accounting industry shifts its focus to data analytics. Accountants are taking on new roles as advisors, with unique skill sets that revolve around analyzing data. Analyzing numbers helps businesses come up with valuable insights, which enables them to identify process improvements as well as increase efficiency and manage risks better. Although analytics as part of accounting services is not entirely new, it is now more powerful, presenting financial performance in a new light for better actionable insights. Larger accounting firms apply data analytics in tax, consulting, risk management, and auditing. Meanwhile, CPAs in other organizations are utilizing the capabilities of the