John Savignano is an American businessman and entrepreneur. Savignano is a thought leader and is frequently quoted in the media on issues. John Savignano, a New York-based accounting firm in business for over eighty years, says that in recent years it’s become apparent to many of the top accountants out there that the financial entertainment sector is going through some significant changes. Some of those changes have already started as digitalization becomes an integral part of finance and accounting. This shift has led Savignano to believe that within our lifetime, perhaps sometime in the next twenty years or so, computers will be able to do all of your bookkeeping and accounting tasks with little or no human interaction.
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As we move closer to 2022, specific trends in the accounting world are worth keeping an eye on. Eight such trends are outlined in the article “Top 2022 Accounting Trends With John Savignano” by The Boss Magazine.
These trends include an increased focus on data and analytics, financial reporting automation, and artificial intelligence use in auditing. With data becoming increasingly important in the business world, it is no surprise that accounting is also moving in this direction. Automation of financial reporting is another trend that is likely to gain traction in the coming years, as it can help improve efficiency and accuracy.
Artificial intelligence is also set to play a more significant role in accounting, as it can help with tasks such as identifying errors and fraud. It is an area that will continue to develop in the coming years. The future looks bright for the digitizing of finances in one way or another, with data analytics becoming increasingly more accessible thanks to the internet. These are just a few trends worth keeping an eye on in the accounting world. As we move closer to 2022, it will be interesting to see how these trends develop and evolve.