AI accelerating cybersecurity arms race, changing the game

The proliferation of advanced artificial intelligence over the last few years may have brought the arms race between cybercriminals and those who work to stop them into an entirely new phase, as AI programs are now advanced enough to produce malicious new code on the fly. This was demonstrated recently by researchers experimenting with the … Read more

Easing the transition to mid-market accounting software

There comes a time when, if your small-business client is successful, they outgrow their accounting system, but it’s not always easy to tell when a client is approaching the limits of their software. The indicators are sometimes obvious and at other times somewhat subtle, but there are a number of clear warning signs that indicate … Read more

Financial Accounting Standards Board votes to release draft cryptocurrency in March

The Financial Accounting Standards Board, in its Feb. 1 meeting, voted to advance its first standard on cryptocurrencies and digital assets. The exposure draft is set to be released in late March and stakeholders will have 75 days to comment. The board’s project has undergone several refinements over the course of several meetings within the … Read more

Meta stock spikes nearly 20% as cost cuts and $40 billion for investors overshadow earnings miss

Meta Platforms Inc. shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts. Meta Meta, +27.57% said it hauled in $32.17 billion in fourth-quarter revenue, down from $33.67 billion … Read more

Google’s ‘lowest-paid workers’ ask for raises and benefits at headquarters rally

Michelle Curtis has rated Google searches professionally for eight years — training, testing and evaluating the algorithms for the company’s dominant search engine — while making $13.50 an hour. On Jan. 1, Curtis received a raise to $14.50 an hour, which is still lower than the $15 minimum hourly wage that Alphabet Inc. GOOGLE, +7.28% … Read more

Opinion: Zuckerberg and Intel are shipping the proceeds from their layoffs straight to Wall Street

For years, Wall Street groused about Silicon Valley’s refusal to pay dividends and buy back stock as tech companies grew into cash-generating machines. That is no longer a problem, even though those tech companies are generating fewer profits than they were in previous years. In fact, some tech companies are basically paying off Wall Street … Read more

Shaping central banks: Cryptocurrency carries inherent governance issues

Like much of the financial world, Carolyn Wilkins, a former deputy governor of the Bank of Canada, was dismayed at the governance failures that led to the collapse of the FTX crypto trading platform. However, while there is much to be said about the specific missteps of those connected to this company, she said that … Read more

An accounting firm’s secret weapon: better workflow

Workflows are what make a firm run — smoothly or not. A poor workflow will impede growth and make an otherwise efficient person or group less effective at their jobs. Simply put, an accounting workflow is how you keep track of projects. It enables everyone within a firm to know what tasks are in progress, … Read more

Finance automation doesn’t happen in a vacuum

Imagine this scenario: Your purchasing manager reviews inventory, notices stock is low and places an order with the manufacturer. What the manager doesn’t do beforehand is consult the finance department. Not knowing the status of cash flow or accounts receivable, that purchaser has no idea if this order will put a temporary strain on the … Read more