KW John Savignano, the CEO of Savignano accountants & advisors in New York, discusses the top accounting trends for 2022. He argues that Accounting is a profession that is constantly evolving. New legislation, charter changes, and management techniques keep accountants on their toes. Many large and small businesses worldwide need to keep up with these changes to stay afloat in an increasingly complex environment. Connect on linkedin.com to view full profile of John Savignano
KW John Savignano says that accounting professionals in the accounting industry will be working on more than one document at once. They’ll also have to adapt their accounting methods to the technology of 2022.
KW John Savignano says that among the most popular accounting trends for 2022 are:
- The increased use of artificial intelligence (AI) technology to gain knowledge about an organization. “Accounting professionals will start using a variety of information sharing tools and software programs, such as Business Intelligence (BI), Business Analytics (BA), and Data Mining (DM).
- Implementing the SOX 404 requirements, including auditing controls, ensures the accuracy of records and financial reporting.
- The increased use of cloud-based technology to access accounting software and data remotely.
- Financial analysis will become more sophisticated by integrating big data and other sources, such as mobile payments.
In conclusion, according to KW John Savignano, technology has transformed accounting practices over the last decade and will continue to do so. Accounting professionals must adapt to these changes to stay relevant. KW John Savignano says that the best way for accounting professionals to stay ahead of the game is to learn about new accounting trends.