Modern accounting practices are changing rapidly, and new systems and software tools are emerging to revolutionize accounting and its delivery. Savignano accountants & professionals is a company started by KW John Savignano, a certified public accountant in New York City who specializes in providing financial advice to small and medium-sized businesses and high net worth individuals. He also offers career development coaching, executive education programs, and tax preparation and planning. Having spent over 35 years working in the accounting arena, he has worked for both large multi-national corporations and smaller startups. Here are some of the top 2022 accounting trends with KW John Savignano.

  1. Remote Technologies and Remote Working:

Communication and technologies have advanced to the point where accounting and auditing services can be provided remotely, which will allow for more flexibility in the working process. Accountants will be able to work from anywhere with a good internet connection.

  1. Improved Data Security:

The need for improved security of sensitive company data and client data will increase. This will result in an increased demand for cyber security as well. As more companies move their business and financial data online, the risk of a cyber-attack or a breach in data security increases.

  1. Blockchain Technology

The application of Blockchain to accounting and financial services is where the biggest changes will occur. This technology was originally designed to track transactions but will be adapted by financial institutions and accountants to improve how they perform their business. Businesses will be able to store data securely on the Blockchain and access that data from anywhere in the world.

  1. Data Analytics and Forecasting:

The level and depth of data analysis and forecasting will be unprecedented. The increased collection of large amounts of information from internet technology and other online sources will allow businesses, finance professionals, and accountants to predict consumer behavior accurately. View Source: DailyNews