Boost Your Bottom Line with Predictive Analytics

Traffic-lightsWouldn’t life be great if we all had a crystal ball? While wizardry and fantasy may sound like a great way to see the future, no one would actually advise a client or employer on assumptions based in magic and hearsay.

Typically, we serve our clients and employers based on fact-based historical reporting, which tells us where we are and where we’ve been. However, there is another way to offer guidance and opinion: predictive analytics, a process-driven activity that combines facts about the past with inferences to anticipate the future.

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Should You Sign a Business Associate Agreement Under HIPAA?

HIPAA-complianceDr. Smith left you a voicemail at 10 p.m. on a Sunday night. You couldn’t make out the entire message due to a weak cellphone signal and background noise, but you gathered he was talking about the Health Insurance Portability and Accountability Act and needing you to sign something called a Business Associate Agreement.

Dr. Smith is an excellent dermatologist, but you know from doing his taxes that regulatory compliance isn’t necessarily his forte.

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Implementing the Future of Learning Recommendations

In May 2014, the AICPA’s Future of Learning Task Force announced four broad recommendations to positively impact the future of learning for the CPA profession. The recommendations are:

  1. Innovate and experiment
  2. Ignite a passion for learning
  3. Make learning personal
  4. Measure what matters

These recommendations and insights, as well as other resources related to the initiative, are now available on the new Future of Learning site. If you haven’t yet visited the site, I highly recommend you do so to gain insight into the drivers behind the initiative and its recommendations. Navigating the site will take you on a journey that explores change within business, the evolving workplace and shifts in the CPA profession. You’ll gain a better understanding of trends impacting learning, ranging from how technology is rapidly changing delivery options to the impact of Millennial expectations on learning and the workplace.

In this four-part blog series, we’ll go in depth and look at each of the task force recommendations, as well as ways you can begin to implement them.

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Laying the Final Bricks of the CGMA Foundation

LibraryAt launch in 2012, we promised our members and the global employer market that the Chartered Global Management Accountant designation would recognize and support accounting professionals who know how to connect finance to strategy. Backed by the combined resources and reputations of the AICPA and CIMA, CGMAs would be recognized as finance leaders who see across the entire organization to make better business decisions.

In the last few months of 2014 we’ll deliver the fundamental pieces that will help define the profession of management accounting and solidify the CGMA’s position as the premier global management accounting designation.

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The DATA Act: What CPAs Need to Know

Are you aware that the new Digital Accountability and Transparency Act, signed into law earlier this year, will have a significant impact on CPAs who work in government and or interact with the federal government?

Known as the DATA Act, the new law calls for the adoption of a data standard that is “a widely accepted, nonproprietary, searchable, platform-independent computer-readable format” to report federal contract, loan and grant spending information by federal programs. CPAs need to be aware of the changes so they can better serve their clients and be prepared to help agencies meet the new requirements.

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