The world of accounting is changing in exciting ways. Where once spreadsheets and manual processes ruled the day, new technologies like generative artificial intelligence (AI) are now opening up fresh possibilities. These tools are helping accounting firms work more efficiently and support clients in new and dynamic ways.
If you look on LinkedIn today, you will see post after post about AI. It’s true, AI is a game-changer, but it’s only one facet of the digital space right now. There are a lot of other things you can do that could add value to your business (and I say that as a Data Scientist).
Why does this matter? Because for businesses in the UK company size thresholds drive compliance requirements, financial reporting obligations and eligibility for various schemes and incentives. As with everything it would seem, these thresholds have become increasingly complicated and so hard to navigate. In this blog we will explain what you need to know, but first why you should want to know.
