#SME&U

13 Apr 2021

Old Age vs New Age of Accounting

by RAKBANK
old-age-vs-new-age-of-accounting

Sitting before receipts, using a pen and paper are gone. Using Excel or PC software like Tally, Quicken is fading away. Waiting for weeks to close the books for audits is gone. Of course, some basic principles apply, but the tools, processes are changing rapidly as we enter a new age of accounting. 

 

 

Thanks to digitization, globalization, millennials, mobile we are in a new age of accounting. Traditional accounting metrics don't fit well with new business models, which are light on physical assets but high on IP and rapid growth. Employee or labour costs, are no longer full-time sitting in an office. They are distributed, work 24/7, remote, on-demand, freelance, or project basis. 

 

 

SMEs and their Accountants that adapt to this new age have a higher chance of success. This video will explain how Accounting is rapidly changing

 

 

 

New Age of Accounting for SMEs

 

 

 

 

 


Tags :




Old Age vs New Age of Accounting

13 Apr 2021

old-age-vs-new-age-of-accounting

Tags :

Sitting before receipts, using a pen and paper are gone. Using Excel or PC software like Tally, Quicken is fading away. Waiting for weeks to close the books for audits is gone. Of course, some basic principles apply, but the tools, processes are changing rapidly as we enter a new age of accounting. 

 

 

Thanks to digitization, globalization, millennials, mobile we are in a new age of accounting. Traditional accounting metrics don't fit well with new business models, which are light on physical assets but high on IP and rapid growth. Employee or labour costs, are no longer full-time sitting in an office. They are distributed, work 24/7, remote, on-demand, freelance, or project basis. 

 

 

SMEs and their Accountants that adapt to this new age have a higher chance of success. This video will explain how Accounting is rapidly changing

 

 

 

New Age of Accounting for SMEs