Daily Archives: May 20, 2023

The accounting profession is undergoing a rapid digital transformation. As a result, embracing innovative technology tools is crucial for public practice accounting firms to stay competitive, streamline operations, and provide exceptional client service. In this article, well explore a range of top technology tools that revolutionize how public practice accounting firms operate.

Client Portals and Communication Tools (Single Portal)

Secure client portals like Liscio, Suralink, SmartVault, ShareFile, and CCH Axcess Client Collaboration provide encrypted file-sharing and storage solutions that streamline document exchange and collaboration. These portals protect sensitive information, enhancing client trust and reducing the risk of data breaches. Additionally, communication tools such as Slack, Microsoft Teams, and Zoom facilitate real-time communication, making it easier to collaborate and keep clients informed.

Cloud-Based Accounting Software

Cloud-based accounting software has become indispensable for modern public practice accounting firms. Solutions such as QuickBooks Online, Xero, and Sage Intacct provide real-time access to financial data, enabling accountants to offer more accurate and timely financial advice. In addition, these platforms facilitate collaboration between team members and clients and provide robust integrations with other essential tools, creating an efficient accounting ecosystem.

Automated Data Entry and Expense Management

Automation tools like Dext Prepare, Expensify, Zoho Expense, and Hubdoc leverage optical character recognition (OCR) technology to streamline data entry and expense management. These tools save time and improve data accuracy by reducing manual data entry and the potential for human error. They also provide integrations with popular accounting software, making it seamless to incorporate expense data into clients financial records.

Workflow Management and Collaboration

Workflow management tools like Karbon, CCH Axcess Workflow, and Jetpack Workflow are transforming the way public practice accounting firms manage projects and deadlines. These platforms enhance productivity and collaboration by automating repetitive tasks, providing visibility into team workload, and ensuring deadlines are met. Additionally, they often include features like task assignment, progress tracking, and notifications, ensuring no task slips through the cracks.

Business Intelligence and Analytics

Advanced analytics tools like Alteryx, 4ImpactData, Clearify QQube, Power BI, Tableau, and Fathom enable accountants to transform raw financial data into actionable insights for their clients. By creating interactive dashboards and visualizations, these tools make it easier to identify trends, monitor key performance indicators, and make data-driven decisions. As a result, public practice accounting firms can offer value-added advisory services that set them apart from competitors.

Tax and Audit Solutions

Tax and audit solutions like CCH Axcess Tax, Thomson Reuters UltraTax CS, and Wolters Kluwer ProSystem fx Tax streamline the preparation and filing of tax returns. Likewise, CCH Axcess Engagement, Thomson Reuters AdvanceFlow, Hg Capital CaseWare, Fieldguide.io, Audit Sight, and Wolters Kluwer ProSystem fx Engagement improve audit workpaper automation. As a result, these tools reduce the time spent on manual tasks and minimize the risk of errors. They also ensure compliance with the latest tax laws and regulations, providing both accountants and clients peace of mind.

Payroll and HR Solutions

Payroll and HR solutions like JustWorks, Rippling, Gusto, ADP, and Paychex offer comprehensive payroll processing and human resources management for clients. These platforms automate payroll calculations, tax filings, and benefits administration, saving time and ensuring accuracy. Additionally, they provide employee self-service portals, making it easy for staff to access pay stubs, update personal information, and request time off.

Document Management and eSignature Solutions

Document management solutions such as Doc-It, SmartVault, and CCH Axcess Document enable accounting firms to store, organize, and retrieve digital files securely. In addition, these platforms offer features like version control, access permissions, and audit trails, ensuring sensitive information is well-protected. eSignature solutions like DocuSign, Adobe Sign, and Right Signature further streamline document management by enabling KBA-based secure electronic signing of contracts, agreements, and other essential documents. By adopting these solutions, public practice accounting firms can reduce their reliance on paper, improve efficiency, and enhance client satisfaction.

Financial Planning and Forecasting

Financial planning and forecasting tools like PlanGuru, Spotlight Reporting, and Jirav allow accountants to create detailed financial projections and analyze various scenarios for their clients. In addition, these platforms offer robust reporting and visualization features, enabling accountants to communicate complex financial information effectively. By leveraging these tools, public practice accounting firms can offer strategic financial planning and advisory services that differentiate them from competitors.

Client Relationship Management (CRM) Systems and Business Development

CRM systems like Zoho CRM, Results CRM, and Levitate help accounting firms manage client relationships and track interactions. These platforms offer features such as contact management, pipeline tracking, and integration with other essential tools, providing a comprehensive view of client interactions and history. By adopting CRM systems for business development, public practice accounting firms can better understand their clients needs, identify growth opportunities, and provide personalized service.

Cybersecurity Solutions (Make sure to complete your 5293/4557 WISP!)

With the increasing reliance on digital tools and the handling of sensitive financial data, cybersecurity is more critical than ever for public practice accounting firms. Implementing robust security measures like multi-factor authentication, firewalls, and encrypted communication channels help protect client information and ensure compliance with professional regulations. Additionally, investing in tools like endpoint protection and network monitoring can further safeguard your firm from potential threats. Regular staff training on cybersecurity best practices is also essential to maintain a secure environment.

So, What Are The Right Tools For Your Firm?

In conclusion, integrating various cutting-edge technology tools into your public practice accounting firms tech stack is vital for success in todays competitive landscape. By embracing these tools, firms can enhance client service, improve efficiency, and stay ahead of professional trends. Regularly evaluating and adopting new technologies is essential to ensure your firm remains at the forefront of innovation in accounting. As you explore these tools, remember to prioritize staff training and support to ensure a smooth transition and maximize the benefits of your firms technology investments.

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Your Firm and Your Tools - Top Technology Initiatives - CPAPracticeAdvisor.com

16 May 2023

Image source, Getty Images

Hanks said: "I could be hit by a bus tomorrow and that's it, but performances can go on and on"

Tom Hanks has raised the prospect of his career continuing after his death using artificial intelligence.

The Forrest Gump and Cast Away actor said the technology could be used to recreate his image, ensuring he continued to appear in movies "from now until kingdom come".

But he admitted the developments posed artistic and legal challenges.

His remarks came as the Pet Shop Boys' Neil Tennant said AI could be used by musicians to complete songs.

"This has always been lingering," he said. "The first time we did a movie that had a huge amount of our own data locked in a computer - literally what we looked like - was a movie called The Polar Express.

"We saw this coming, we saw that there was going to be this ability to take zeros and ones from inside a computer and turn it into a face and a character. That has only grown a billion-fold since then and we see it everywhere."

The Polar Express, released in 2004, was the first film entirely animated using digital motion-capture technology.

Image source, Getty Images

Tom Hanks played several animated characters in The Polar Express

Hanks said talks are being held in the film industry about how to protect actors from the effects of the technology.

"I can tell you that there is discussions going on in all of the guilds, all of the agencies, and all of the legal firms in order to come up with the legal ramifications of my face and my voice and everybody else's being our intellectual property," Hanks added.

"What is a bona fide possibility right now is, if I wanted to, I could get together and pitch a series of seven movies that would star me in them in which I would be 32 years old from now until kingdom come.

"Anybody can now recreate themselves at any age they are by way of AI or deep fake technology. I could be hit by a bus tomorrow and that's it, but performances can go on and on and on and on.

"Outside the understanding of AI and deep fake, there'll be nothing to tell you that it's not me and me alone.

"And it's going to have some degree of lifelike quality. That's certainly an artistic challenge but it's also a legal one."

Image source, Lucasfilm Ltd.

Harrison Ford was "de-aged" for Indiana Jones: The Dial of Destiny

Similar technology has already been used in the latest Indiana Jones film, for which Harrison Ford, 80, was "de-aged" for the opening sequence.

Filmmakers trawled archived material of the younger Ford before matching it to new footage, creating the illusion of Indiana Jones in 1944.

Hanks acknowledged that the technological developments could lead to an AI-generated version of himself appearing in films he may not not normally choose.

He said: "Without a doubt people will be able to tell [that it's AI], but the question is will they care? There are some people that won't care, that won't make that delineation."

AI is also posing dilemmas for the music industry, with conflicting reactions to its use to make music by artists.

A song created using the cloned voices of Drake and The Weeknd was pulled from streaming services last month, but Grimes has encouraged musicians to use her voice to make music.

Pet Shop Boys' singer Neil Tennant told the Radio Times he was excited about the potential of the technology.

"There's a song that we wrote a chorus for in 2003 and we never finished because I couldn't think of the verses, " he said.

"But now with AI you could give it the bits you've written, press the button and have it fill in the blanks. You might then rewrite it but it would be a tool."

See the original post:

Tom Hanks: I could appear in movies after death with AI technology - BBC

As the digital infrastructure is fast becoming a critical lifeline for modern businesses today, the role of Chief Technology Officer, whos in charge of leading and managing a team of technology professionals, is in high demand. As an aspiring or new Chief Technology Officer you will be responsible for ensuring that the technological stack of your organisation is informed by the latest trends, emerging and new technologies, and future-ready insights. However, as the technology landscape is evolving and impacting the way businesses are building products, the role of a CTO is much more layered and nuanced today. Today, the role of a CTO also calls for a drive for innovation, a deep understanding of how tech is reshaping market metrics and consumer demand, and the way how products are impacting people, smart strategic thinking, and a futuristic vision, among others.If this is the next leap you want to take in your career, a Chief Technology Officer programme can help equip you with the necessary leadership skills, such as strategic thinking, decision-making, team building, and communication, which are crucial for effectively leading a technology department. Catering to the need of organisations to hire high-functioning CTOs, several top management schools now offer executive learning programmes aimed at equipping working professions in the digital landscape with the necessary skills to drive digital transformation at their organisations.

Leadership programmes from Emeritus are geared to empower the next generation of CTOs with the necessary skills, insights, and outlook required to position themselves as digital strategists. One such programme is the Chief Technology Officer programme offered by the Indian School of Business (ISB). A Chief Technology Officer programme can be your gateway to unlock your true potential in the world of technology and leadership.

The course, which will begin in June 28, 2023, will span a duration of 24 weeks combining a mix of online and live sessions, requiring 4-6 hours per week.

This programme is aimed at senior technology leaders who are Chief Technology Officers or Chief Information Officers or Deputy/VP Technology or Information.

This programme will be beneficial for professionals who are looking to:

The following USPs of the ISB Chief Technology Officer programme make it a well-thought programme, which combines theory with the best of practical insights, industry learnings, and networking and collaboration opportunities:

Additionally, learners of this programme will get free one year premium access to Emeritus Insights, a microlearning platform, which can help you shape your success.

A CTO programme can provide you with a comprehensive understanding of various technical areas, including software development, infrastructure, cybersecurity, data analytics, cloud computing, and emerging technologies like artificial intelligence (AI) and blockchain. In addition, a CTO programme can teach you about business strategy, financial management, project management, risk assessment, and other essential business skills. Such cross-functional knowledge will enable you to make informed decisions that positively impact the organisation's bottom line.

Upon successfully completing the ISB Chief Technology Officer programme with a minimum 70% score, a learner will be awarded a certificate for the Chief Technology Officer programme from ISB Executive Education.

A structured CTO programme can help a tech leader stay ahead of the curve by providing insights into emerging technologies, industry trends, and best practices. This knowledge can help those who are at the forefront of technology to make informed technology decisions and drive innovation within their organisations. If you are a senior technology leader, enrolling for a CTO programme, this will demonstrate your commitment to professional development and your credibility as a deserving candidate for a top-tier technology leadership role. A CTO programme can also provide you with valuable credentials and certifications that can boost your resume and differentiate you from other candidates. In conclusion, as a CTO a constant desire to learn and unlearn, challenging oneself and staying curious will prove to be added drivers of your career.

FAQs:

Disclaimer: This content was authored by the content team of ET Spotlight team. The news and editorial staff of ET had no role in the creation of this article.

( Originally published on May 17, 2023 )

The rest is here:

Transform your career with Chief Technology Officer online course - Economic Times

INTRODUCTION

Initial Officer Training Programme (IOTP) provides basic military officer training to Officer Cadets (OCdts) and their equivalents from law enforcement and uniformed services. The programme falls within the tactical level of the Professional Military Education (PME) framework of armed forces and is modelled from the Royal Military Academy Sandhursts (RMAS) Commissioning Course. It was designed with the direct support and guidance of RMAS Instructing and Support Staff.

Rationale

Traditionally, the Jamaica Defence Forces (JDF) longstanding partnerships with militaries across the world has seen its OCdts being trained in academies in the following countries: United States, England, Canada, China and India. Upon the return of OCdts to the JDF, there is a requirement for doctrine and operating procedure standardization due to the varying concepts and differing contents of the training they had undergone. This is normally done at the Unit level and later, through a Young Officers Course. The advent of COVID-19 added a new level of complexity to travel, thus negatively affecting the process of sending OCdts overseas. Additionally, the ongoing expansion and restructuring of the Force to cauterize the ballooning threats to national security has caused an increased demand for newly commissioned Second Lieutenants.

Due to the carefully adapted military and academic curricula, IOTP serves as the course to treat with the aforementioned considerations. The methodology used addresses each issue directly and the course, through the delivery of a bespoke training syllabus, is fit for the JDF and is also relevant to the militaries and organizations within the Caribbean region and in other parts of the world.

Concept

Having the RMAS approach to training at its core, IOTP is designed with a syllabus that sees male and female integration throughout training. The course focusses on developing military skills and command with a leadership golden thread. The course structure allows the Instructing Staff to educate, build, develop and scrutinize an OCdts ability to decide and communicate accurately and ethically while under pressure and or stress. The expectation is that on commissioning, an OCdt will be fully cognizant of the responsibilities and personal conditions that being an Officer imposes upon them. The product of the IOTP will be an ethical and robust Officer who has the knowledge, skills, attitudes and intellectual agility to adapt their decision-making process and approach to any environment.

Location

The home of IOTP is the Caribbean Military Academy (CMA) Newcastle, which is located at the Newcastle Hill Station, St Andrew, Jamaica.

Nestled in the cool hills of upper St Andrew and amidst beautiful trees, ferns, ground orchids, delicate wild flowers and a profusion of ginger lilies, is the Newcastle

Training Depot founded in 1841 by Major General Sir William Maynard Gomm (later Field Marshall). Gomm, a veteran of the wars against revolutionary France and Lieutenant Governor of Jamaica from 1840 to 1841, relentlessly badgered the War Office in London to establish a mountain station for British soldiers in Jamaica soon after taking up his post.

The idea of the hill station was first raised by Gomm in a letter dated April 7, 1840 to Governor Sir Charles Metcalfe. Gomm pointed out that while Up Park Camp was an ideal location for a barracks, it was subject to the ravages of yellow fever. In Jamaica the

British garrison was stationed on the plain at Up Park Camp, Stony Hill, Fort Augusta and Port Royal. Here, on the average, 1 soldier died every 2 days. According to Russell, the year 1838 was considered a good year: only 91 men died. In 1839, 110 men perished and in the following year 121. Initially, the British government was conservative in approving a hill station for the troops in Jamaica. They were concerned about the expense of the venture.

In May 1841, London finally sanctioned Gomms efforts to build what is thought to be the first permanent mountain station in the British West Indies at Newcastle. The site selected was a coffee plantation protruding from the southern face of the grand ridge of the Blue Mountains. The British government paid 4,230 for the Newcastle site.

At the outbreak of World War II (1939-1945), life at Newcastle changed a little. The British regiment was replaced by Canadian regiments which remained at Newcastle for the duration of the war. With hostilities over in 1945, the Canadians left and once again a British battalion was stationed there.

In 1958, the West Indies Federation was founded and the infantry regiments of the various Caribbean islands were disbanded and reorganized into the West India Regiment. Newcastle became a training depot, training recruits from all over the West Indies as part of the

newly formed West Indies Federation. In 1962 when Federation was disbanded, the West India Regiment was also disbanded. Jamaica simultaneously sought her independence, which was achieved on August 6, 1962. With independence, Newcastle was given to the Jamaican government as part of a general settlement of all military lands in Jamaica.

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e-Learning Jamaica Technology in Education Conference Slated for ... - Government of Jamaica, Jamaica Information Service

The term Luddite emerged in early 1800s England. At the time, there was a thriving textile industry that depended on manual knitting frames and a skilled workforce to create cloth and garments out of cotton and wool.

But as the Industrial Revolution gathered momentum, steam-powered mills threatened the livelihood of thousands of artisanal textile workers.

Faced with an industrialized future that threatened their jobs and their professional identities, a growing number of textile workers turned to direct action. Galvanized by their leader, Ned Ludd, they began to smash the machines that they saw as robbing them of their source of income.

Its not clear whether Ned Ludd was a real person or simply a figment of folklore invented during a period of upheaval, but his name became synonymous with rejecting disruptive new technologies an association that lasts to this day.

Questioning doesnt mean rejecting tech

Contrary to popular belief, the original Luddites were not anti-technology, nor were they technologically incompetent. Rather, they were skilled adopters and users of the artisanal textile technologies of the time. Their argument was not with technology, per se, but with the ways that wealthy industrialists were robbing them of their way of life.

Today, this distinction is sometimes lost.

Being called a Luddite often indicates technological incompetence as in, I cant figure out how to send emojis. Im such a Luddite. Or it describes an ignorant rejection of technology: Hes such a Luddite for refusing to use Venmo.

In December 2015, Stephen Hawking, Elon Musk and Bill Gates were jointly nominated for a Luddite Award. Their sin? Raising concerns over the potential dangers of artificial intelligence.

The irony of three prominent scientists and entrepreneurs being labeled as Luddites underlines the disconnect between the terms original meaning and its more modern use as an epithet for anyone who doesnt wholeheartedly and unquestioningly embrace technological progress.

Yet technologists such as Musk and Gates arent rejecting technology or innovation.

Instead, theyre rejecting a worldview that all technological advances are ultimately good for society.

This worldview optimistically assumes that the faster humans innovate, the better the future will be.

This move fast and break things approach toward technological innovation has come under increasing scrutiny in recent years especially with growing awareness that unfettered innovation can lead to deeply harmful consequences that a degree of responsibility and forethought could help avoid.

Why Luddism matters

In an age of ChatGPT, gene editing and other transformative technologies, perhaps we all need to channel the spirit of Ned Ludd as we grapple with how to ensure that future technologies do more good than harm.

In fact, Neo-Luddites or New Luddites is a term that emerged at the end of the 20th century.

In 1990, the psychologist Chellis Glendinning published an essay titled Notes toward a Neo-Luddite Manifesto.

In it, she recognized the nature of the early Luddite movement and related it to a growing disconnect between societal values and technological innovation in the late 20th century.

As Glendinning writes, Like the early Luddites, we, too, are a desperate people seeking to protect the livelihoods, communities and families we love, which lie on the verge of destruction.

On one hand, entrepreneurs and others who advocate for a more measured approach to technology innovation, lest we stumble into avoidable and potentially catastrophic risks, are frequently labeled Neo-Luddites.

These people represent experts who believe in the power of technology to positively change the future, but are also aware of the societal, environmental and economic dangers of blinkered innovation.

Then there are the Neo- Luddites who actively reject modern technologies, fearing that they are damaging to society. New York Citys Luddite Club falls into this camp.

Formed by a group of tech-disillusioned Gen-Zers, the club advocates the use of flip phones, crafting, hanging out in parks and reading hardcover or paperback books.

Screens are anathema to the group, which sees them as a drain on mental health.

Im not sure how many of todays Neo-Luddites whether theyre thoughtful technologists, technology-rejecting teens or simply people who are uneasy about technological disruption have read Glendinnings manifesto. And to be sure, parts of it are rather contentious.

Yet there is a common thread here the idea that technology can lead to personal and societal harm if it is not developed responsibly.

And maybe that approach isnt such a bad thing.

Andrew Maynard is a scientist, author, and professor of advanced technology transitions at Arizona State University. He studies the future and how our actions influence it.

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Andrew Maynard | What's a Luddite? From Industrial Revolution to ... - TribDem.com

It is folly, perhaps, to attempt to categorize or encapsulate the creative force that is Kaloyan Kolev.

Kolev, a graduating senior at Pauli Murray majoring in computer science, is a coder, a composer, a graphic designer, an essayist, and a video editor. He is an afficionado of forgotten disco songs, synthesizers, plunderphonics, Internet culture, and the Eurasian golden oriole. Above all, he is a proud Bulgarian.

I like to use technology to make things, to make art, that makes people think, Kolev said.

Although hed never set foot in the United States before coming to Yale for his first semester in August 2019, some online research gave him a sense that Yale was a place where he could follow each of his intellectual passions equally. And that proved to be the case, he said.

Kolev is co-president of the undergraduate design studio Design at Yale. He works on strategy and content design at Mental Canvas, a drawing software platform founded by Yale computer science professor Julie Dorsey. He is a team leader at the Student Technology Collaborative, leading a subgroup (called STC Studios) that creates visual identities for Yale clubs, academic departments, and startups.

I found academic freedom here, Kolev said. My friends and I started Design at Yale during my first year. Our idea was to do fun design interventions around campus, and I think weve had some real impact. That has been a very meaningful experience for me.

Another experience that meant a great deal to me was a computer science course I took, called Creative Embedded Systems. Every week, you made a machine out of components you were given. I feel like now I can make anything, he said.

This summer, Kolev will return to Sofia, Bulgaria, to see his family, write songs for a pop singer he knows, and compose music for a play. He also has an art exhibition going up. Then hell return to the U.S. to take a fulltime job at Mental Canvas, which is based in New York.

I tell first-year students, theres a way to do Yale where you can still get eight hours of sleep every night, take classes you enjoy, and make it a blissful four years of your life thats centered around intellectual curiosity, making things for the sake of making them, and getting to know yourself, he said.

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At Yale, Kaloyan Kolev used technology to create and to make ... - Yale News