Financial Advisory Blog

Armanino’s Financial Advisory blog is your source for thought leadership around cloud ERP and accounting solutions and integrations. Supported by the Cloud Accounting Institute and numerous experts in cloud, finance, reporting, integration, compliance, and technology, Armanino’s Financial Advisory blog features must-read content on what’s happening in the finance industry, case studies, white papers, and much more.

November 10, 2011

Cloud Accounting Institute Makes the News

Posted by Lindy Antonelli

accounting_tax_preparationAccounting Today wrote a great article about the launch of the Cloud Accounting Institute, highlighting our educational initiatives and our plans to sponsor awards for successful cloud projects. While we were talking, the Accounting Today tech editor, Seth Fineberg, commented that our cloud project user awards are very innovative. He did not know of any other associations in the accounting world with anything like it. This makes us even more excited to finish up our award preparations and share them with you. Look for more detail forthcoming in January 2012.

Seth also mentioned that Accounting Today also blogs. Curious to see what they do, I browsed their Debits & Credits blog, where almost immediately I found news you will like.  Posting on November 4, 2011, Michael Cohn wrote:

“[Financial information provider Sageworks] analyzed the financial statements of thousands of privately held companies to discover which ones generated the most profit over the last 12 months. The company noted that private companies account for up to 70 percent of gross domestic profit and approximately 80 percent of new jobs.

The company found that on a pre-tax business, the most profitable industries were primarily service-based businesses. Those classified as providing “accounting, tax preparation, bookkeeping and payroll services” ranked fourth on the list, with an average pre-tax profit margin of 13.61 percent.”

When you consider how much you can increase profitability with a cloud accounting solution, that’s really exciting news.  Now if you’ll excuse me, I have to go look at another Debits & Credits post, “Accountants Move Toward Value Pricing Model.”


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