THE FUTURE OF ACCOUNTING INDUSTRY

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Presentation transcript:

THE FUTURE OF ACCOUNTING INDUSTRY Short Term Update – Known Long-Term Update – Complete Guess 2

Short-Term Update Revenue Recognition – 2018 Public, 2019 Private Lease Accounting – 2019 Public, 2020 Private Tax Reform – 2017, 2018, 2019, 2020,…. Cloud Internal Accounting Systems Accounting Firm Consolidations Labor Shortage 3

Long-Term Update Private Company GAAP Implemented Technology Simplifies Compliance Process Tax Reform – 2021, 2022,2023, 2024, … IRS Prepares Simple Tax Returns VAT Tax is Implemented End of Time-Based Billing Accountant Becomes Full Time Consultant 3

Your Future Compliance Accountant

Steven Murphy | Tax Partner Thank You ! Steven Murphy | Tax Partner M o o r e  C o l s o n p. 770-989-0028 f.  770-989-0201 www.moorecolson.com