What trends might be changing accounting as we know it? Read on for the latest news, curated by GetApp Analyst Benjamin Noyes.

Higher ed dips its toes into crypto, a $4 million lunch, and more accounting news

According to EY, adoption of fintech is increasing

With consumers becoming more interested in using tech to manage online finances, the crossover between the finance and technology sectors (known as “fintech”) has firms opening up.

The latest report on the topic was published last week. Among the interesting stats are the fact that cost remains the most important consideration (27% see cost as the differential advantage) and that there is a high level of awareness (96% of consumers had at least heard of fintech). [Read more]

Chinese crypto entrepreneur bids $4.6 million for lunch with Warren Buffet

The owner and founder of the cryptocurrency platform Tronix, more commonly called TRON, has won a bidding war with other crypto enthusiasts. The prize? Lunch with billionaire investor Warren Buffet. Justin Sun set the record with his $4.57 million bid on eBay. He shared the news with his Twitter followers later that day. [Read more]

How much is the CPA exam worth in 2019?

What’s the future going to be like for the CPA exam? In a word: unsure. The National Association of State Boards of Accountancy has taken note of this trend and has recently released a survey on the CPA’s relevance this year. Candidates who sat for the exam in 2017 and 2019 were asked “Is the CPA exam outdated?” See the results of the honest comparison. [Read more]

Wharton just released an online fintech course

Wharton has released a new learning course that teaches fintech basics to students. This move shows that, true to its name, fintech isn’t only for big or established players; the movement that began with startups is not shying away from its roots. Wharton’s “new virtual fintech specialization program” can be accessed through the online learning platform Coursera. The course lasts several months and students who pass receive a certificate of completion. [Read more]

Apple adds the Bitcoin logo to its keyboard

With interest in cryptocurrency growing steadily, Apple added the Bitcoin logo to its icon set. The icon was cleared to be used as part of Unicode in 2015. [Read more]

Week of May 13, 2019

Xero’s brewtiful partnership, a post-Wayfair world, and more accounting news

Data breach within a European accounting firm

Cloud-based software from Wolters Kluwer, an accounting and financial process improvement firm, was taken offline May 9, after a supposed malware attacks breached its system. With the company’s $4.8 billion brand at stake, the market still lacks clarity on the attack’s long-term impact. [Read more]

Market sizing estimates for cloud-based accounting

It’s a time of rapid expansion for the cloud-based accounting market. According to MarketWatch, a compound annual growth rate of more than 7.2% will lead to a $4 billion pie by 2024. Currently, the market’s valuation is $2.6 billion. [Read more]

Xero to enable integration with Ekos

Community-focused tech company Ekos announced that it will integrate directly with Xero. If you’re one of the 1,500 craft beverage producers that partners with Ekos, check out this read from Brewbound. [Read more]

2 trends to watch this year, in the aftermath of Wayfair

eCommerce continues to be a burden for tax professionals. Coupled with constant updates, missing sales tax estimates, and new avenues for globalization, accountants across different industries should be ready. [Read more]

The rise of multidealer platforms

Checking in on the fintech space, it’s clear that multidealer platforms are getting more popular, within both traditional asset management firms (e.g., Fidelity) and startup firms. Difficulties still exist with over-the-counter trading. [Read more]

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