March 26, 2013

Accountants Concerns in 2013

A recent study based on the findings of the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA), has shown that the two biggest long-term issues facing UK businesses are cyber crime and high energy gas prices. Among accountants surveyed, 78 percent stated that they had the same concerns. With more of a shift to online transactions and data storage, it potentially puts companies at risk of being infiltrated by hackers. Since gas prices are continually rising and minimal progress of alternative energy solutions has been made, this can end up eating into profits and complicating overall business operations.

When it comes to short-term issues, the rising cost of college appears to be the biggest concern. 68 percent of accountants stated that both the price and accessibility of higher learning is problematic in the present and near future. Consequently, most business executives and accountants are in agreement with one another and concentrating heavily on their business relationships from 2016 to 2022.

Cloud computing is another major trending that is affecting the way in which business is being done currently and into the near future. Due to the ease of collaboration and project development, more businesses are turning to cloud computing as a legitimate solution for their needs. With outsourcing on the rise and increasing developments in a global economy, it's becoming more important than ever for UK businesses to adapt to these trends. It's now obvious that many of the more traditional, offline strategies used in the past are losing their effectiveness and may be nearly defunct within a decade or so. For this reason, more and more companies are looking to move some or all of their operations overseas to capitalise on these changes and meet consumer demands.

As the global economy continues to grow, it's also necessary for businesses to work alongside professional accountants and specialist accountancy recruiters that can adapt to other languages and cultures from all over the world. While there are obvious challenges associated with these changes, there are also opportunities. Businesses that can adapt and position themselves accordingly have a chance to experience success and long-term growth.

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