Business innovation has a problem. A recent by Robert Gorden titled “Is US Economic Growth Over? Faltering Innovation Confronts the Six Headwinds” suggests that “innovation does not have the same potential to create growth in the future as in the past.”
In our digital age, “skimming” has become a growing problem. Skimmers are small devices, installed by criminals on ATM machines, self-serve gas pumps and other devices to steal information from credit, debit or ATM cards.
According to the U.S. Secret Service, thefts from ATM skimmers now total more than $1billion/year. That number is expected to rise. In January 2013, two people were arrested in New Jersey and charged with skimming more than $1 million from ATM machines.
The accounting profession is still suffering from old stereotypes: stagnant and boring number crunching. Mention the word “accountant” and people still picture a worker hunched over a desk, never seeing the light of day. That couldn’t be farther from the truth.
On the heels of some pretty big mistakes by some pretty big companies, rules and regulations are constantly changing in all areas of accounting: the fiscal cliff caused unexpected tax law changes; the SEC continually issues guidance for reporting transactions.