Is technology helping financial accounting or it just slow pace of new accounting rules?
The writing should be related to the article below, and the topic is about requirement of Financial Accounting Standard Board. Is technology helping financial accounting or it just slow pace of new accounting rules? Please read the article below and answer the question. Technology Could Slow Pace of New Accounting Rules, Regulators Say Financial Accounting Standards Board Chairman said he was ‘disappointed’ that many software companies weren’t ready for lease-accounting rules From left, Public Company Accounting Oversight Board Chairman William Duhnke II and Financial Accounting Standards Board Chairman Russell Golden being interviewed by CFO Journal’s Tatyana Shumsky at the CFO Network in Washington, D.C. PHOTO: RALPH ALSWANG FOR THE WALL STREET JOURNAL By Kimberly S. Johnson June 11, 2019 2:52 pm ET WASHINGTON—Technology is improving the way companies report and audit their financials, but it could increase the time it takes them to implement new standards. The Financial Accounting Standards Board is examining how companies are using automation and similar technologies in their accounting and reporting efforts, particularly when it comes to implementation of new accounting standards. It might take more time to apply new, innovative solutions to reporting under new accounting rules.

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