We're right in the middle of Scaling New Heights 2024! For those who were unable to attend, we've prepared a recap of the action-packed first day of the event. Check out our latest edition of The Woodard Report to learn more.
Aside from that, in the news this week, Bill360 has introduced an advanced AR automation solution for accountants! More information can be found in our press release below. In other tech news, Meta has halted AI training on EU user data due to pressure from regulators. The IRS has also announced that it will close a tax loophole that will net the U.S. government billions of dollars over the next ten years.
Read about all this and more below!
The Scaling New Heights 2024 conference kicked off with over 1,800 attendees. Highlights included insightful sessions, networking opportunities, and a keynote by Dr. Michio Kaku on the future of AI and technology. Joe Woodard emphasized the need for CAS professionals to innovate and adapt in a rapidly changing industry. Read more...
Bill360 has launched a new AR automation solution designed to streamline accounts receivable processes for accountants and their clients. This technology aims to enhance efficiency and support business growth through advanced automation. Read more...
The IRS is targeting basis shifting transactions to prevent tax evasion strategies that manipulate financial statements. This move aims to ensure transparency and fairness in tax reporting, addressing long-standing loopholes. Read more...
Meta has paused AI training using EU user data in response to regulatory pressures. This decision highlights the growing tension between tech companies and data privacy regulations in the European Union. Read more...
The SEC has imposed penalties on the former CFO of Synchronoss Technologies for accounting misconduct. This case underscores the importance of ethical financial practices and regulatory compliance in corporate governance. Read more...
The Institute of Management Accountants (IMA) is launching initiatives to draw young professionals into the accounting field. These efforts aim to address the talent gap and ensure the future growth of the profession. Read more...
Loren Fogelman advocates for accountants to adopt a client-centered approach and stop undercharging for their services. By valuing their expertise appropriately, accountants can provide better service and achieve greater professional satisfaction. Read more...
The new CIMA President emphasizes the abundant opportunities in the accounting and finance sectors globally. He highlights the need for professionals to embrace change and innovation to seize these opportunities. Read more...
Governor Wes Moore of Maryland has announced a comprehensive plan aimed at fostering inclusive economic growth in the state. The initiative focuses on creating opportunities for marginalized communities and promoting sustainable development. Read more...