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steve yoss: the big tech issues accountants need to follow today | quick tech talks

staying ahead requires adaptability and a focus on delivering value beyond the tasks that traditionally defined accounting.

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as technology advances at a breakneck speed, accountants must rethink how they add value to their clients and organizations.

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“back in the 50s, accounting was incredibly manual, requiring a virtual army to produce records,” yoss explains, highlighting the drastic evolution of the field. by the 80s, spreadsheets like visicalc and excel began to ease the burden. the 90s brought us small business accounting systems like quickbooks. today, automation and ai-driven solutions can perform low-value tasks—such as general bookkeeping, accounts payable, and more—with little oversight and near error-free execution.

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steve yoss: an accountant’s detailed guide on databases, integration, and data sharing | quick tech talk

data integration allows you to offer clients a 360 view of their businesses.

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what’s the primary purpose of accounting? it’s decision usefulness. we’re in the business of interpreting information in a way to help business leaders make decisions.

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in today’s complex business environment, we’ve got data coming from all over the place: inventory, accounting, hr, payroll, and more. depending on your business, you can have upwards of 10 different systems inside your organization.

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podcast

steve yoss: connect, transform, and analyze data like a pro with power query basic | quick tech talk

integrate information systems, but don’t ignore your gut.

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how do you ensure data integrity when you’re working with multiple disparate systems that you want to ultimately pull together and have talked to each other?

you’ll always want to make sure that you have a system of record: one system inside your organization that’s kind of the master control over everything else inside your company. it could be quickbooks, your erp platform, a custom database, or something else. but ideally, all other systems inside your company take their cues from that one master system.

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steve yoss: advanced techniques in powerpoint for financial presentations | quick tech talk

save time and reduce errors by linking data across applications.

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did you know that you can link data from excel into powerpoint, word, and other microsoft office applications?

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you can prepare your financial information, balance sheet, income statement, or whatever else inside excel. you could then paste it directly into your next powerpoint presentation, word document, or anything else. but the trick is not to paste and leave it there but to paste and link it.

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steve yoss, quick tech talk: creating powerful and effective presentations using microsoft powerpoint

knock your next presentation out of the park with powerpoint tools and tricks.

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powerpoint is incredibly useful for crafting a message and getting that point across to your audience. i use powerpoint all the time to design and curate content to present to audiences to help them understand how to better use accounting and technology in their day-to-day work.

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steve yoss: it’s time for a.i. to do the heavy lifting

the robots are here. put them to work.

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there are so many incredible artificial intelligence (ai) tools out there. some of the leading companies in this space will be openai, microsoft, google, facebook, et.al. you know, the normal big technology firms. however, several really interesting and useful niche ai applications are popping up, many of which are inside the accounting space and other financial sectors.

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now, these tools can be awesome because they can take tremendous quantities of data, process them in a meaningful way, almost in the blink of an eye, and give you the key insights you can use to know what’s happening inside your business. i like to say it helps you find hidden nuggets of wisdom, those little needles in the haystack that are not observable when you’re just looking at one or a week’s transaction. rather, we will see certain trends emerge when you look at potentially 1000s or even millions or more transactions. frankly, that’s not possible for a human to do. we can’t keep it all in our heads. but guess what, these ai tools can leverage large language models, generative ai, machine learning and more. they can do the heavy lifting for you. so you’re still in the driver’s seat interpreting that information, making it useful and meaningful for your client. but you’ve got these robot workers that can do the heavy lifting to save you a bunch of time.

podcast

steve yoss, quick tech talk: new risks in the emerging regulatory framework

ignorance is not an excuse.nor a legal defense.

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today’s world is governed by laws and regulations, professional standards, ethical codes, and more. and an organization needs to be able to navigate this incredibly complex regulatory framework. it’s not just about being in business anymore. it’s about staying on the right side of the law and the right side of the profession.

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our framework complexities have never been more sophisticated than they are now. we have policies such as the general data protection regulations (gdpr) in europe or the california consumer protection act (ccpa). guess what?

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steve yoss, quick tech talk: blockchain and regulatory compliance for tax, accounting, and finance professionals

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blockchain technology, at its core, is all about record keeping. and if we think about accounting, accounting is just an agreed-upon set of principles for record-keeping gaap: generally accepted accounting principles. blockchain is a way to keep track of information, no different than how an accounting system keeps track of information.

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it has some specific principles, such as immutability, meaning it can’t be modified or deleted once you create a record. it also has certain principles around transparency, such as anybody can examine a public transaction from a blockchain such as bitcoin, aetherium, and others.

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steve yoss, quick tech talk: a.i. automation tools for tax, accounting, and finance professionals

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with steve yoss
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i’m a big proponent of artificial intelligence and automation. i think these tools are incredible for automating day-to-day tasks, making our lives simpler, faster, and easier, especially lower-value tasks that don’t need our time or focus on our resources.

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in the hands of a professional who knows what they are looking at, these tools can do much of the pre-work and the pre-processing. however, it is up to us to ultimately know what we’re looking at to determine if the results are correct or incorrect. these tools can never assume responsibility or accountability for what they produce. in the same way, a self-driving car is not responsible for getting you from point a to point b; it is ultimately the person in the driver’s seat who assumes responsibility. as the financial professional, you’re in the driver’s seat, and you must ultimately be able to look at this information and interpret it for your client because they won’t trust the ai. they’re going to trust you. and so these tools can be incredibly helpful, but it’s up to you to know how to use them responsibly.

podcast

steve yoss, quick tech talk: cloud computing, anywhere, everywhere, all at once

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with steve yoss
cpe today

the cloud is probably one of the most meaningful technologies to have been invented and deployed. the easy, free exchange of information has never been better than it is today. cloud computing gives financial professionals the ability to make the world their workplace. you can do a bank reconciliation while standing in line waiting to check out at the grocery store. you could send a client invoice while on a road trip with your family; although you should probably be enjoying their company. the point is that you’re no longer limited to having to be in one physical geographic space.

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if the system is online or on the internet, if the data is available, you can work anywhere. and that gives you the ability to have clients in any part of the world. it allows you to hire and have staff anywhere in the world. it allows you to grow your business in ways our forefathers could never have seen possible. it’s crazy to think just a couple of years ago, the only employment opportunities you might have had were within an hour’s drive of your home. now you can work anywhere, and anywhere can work for you.

podcast

steve yoss, quick tech talk: data integrity in a digital world

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quick tech talk
with steve yoss
cpe today

today, most companies leverage six to 12 main systems inside their companies, including operations such as accounting, inventory, hr, payroll, and more. that’s why it’s critical to have a digital source of truth or a central system that can be trusted to deliver accurate information

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setting up your system correctly from the start is critical. most enterprise deployments fail 40% of the time, which is an incredible amount. ultimately, it comes from a lack of understanding of what an organization is trying to do, that problem that they’re trying to solve, and not properly setting up their systems and building them out effectively. don’t fall into that trap. by building good systems, you’re building good information, and you’re building integrity in your company.

 

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