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4. Data Analysis



                       Information is the key to making financial decisions. Advancements in data centers, database

                       techniques, and software, has ushered in the age of big data and mining of data to aid

                       management decisions. Information generated by accounting has always been a crucial


                       component of business decision-making.


                       5. Social Media Integration


                       Social media is becoming more popular these days and with this, accounting professionals can


                       now use social media interaction to communicate with their peers and colleagues to updates on

                       latest business, political, and accounting developments that may impact their work.



                       6. Changes in Accounting Standards


                       Accounting standards are continually being revised and updated to keep up with the times.

                       Many of the standards that were developed before the advent of social media, ad-tech (digital

                       advertising) “shared” economy (shared rides, lodging etc.).  These new business models have a


                       significant impact on accounting. Accounting professionals need to keep up with changes that

                       are happening at a much faster pace than before. This trend will continue in 2019 and beyond.



                       7. Proactive Accounting


                       Accounting function generally used to be reactive in nature, e.g., it records and accounts for

                       transactions that are past. This is changing now. Due to many factors, such as evolving business


                       models, regulations, increasing role of accounting in making business decisions, the 2019 trend

                       is for the accounting function to take a more proactive role in understanding the potential

                       implications of any significant business initiative, including tax impact. This allows businesses to







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