Here is a round-up of the latest insights and most popular items on our Industry Insights page this month.
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TaxCalc: Right said FRED 67. Or not?
TaxCalc shared insight about the new requirements for micro-entities now that new UK GAAP has superseded FRSSE.
TaxCalc sought to lessen the anxieties around the transition to new UK GAAP by sharing information about the additional disclosures required by the micro-entities standard, FRS 105. Following the UK implementation of the EU accounting directive by in the Companies, Partnership and Groups (Accounts and Reports) Regulations 2015, microentities are now required to include an additional three disclosures where appropriate under FRS 105.
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PracticeWEB: GDPR breakfast seminar
PracticeWEB teams up with customer insight and data expert Paul Laughlin, to deliver a practical overview of the GDPR challenges you should be considering.
GDPR is a hot topic at the moment but do you understand exactly what you need to do before May 2018? Join PracticeWEB on Wednesday 15th November at Duck and Waffle in London for their breakfast seminar to discuss the impact that the new legislation will have on the accountancy sector and the practical steps you need to take to become GDPR compliant.
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GoCardless: Accountants’ skill sets are changing
Accountants are becoming trusted advisors to their clients thanks to the rise of cloud accounting and financial technology.
Accountancy is reinventing itself by embracing technology and automation and empowering accountants with superior client-facing and technological skills, according to GoCardless. While the skills associated with compliance services are less in demand, the adoption of new technologies is taking off according, with a third of UK firms servicing most of their clients with cloud software.
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BTCSoftware: How to prepare your practice for GDPR
BTC responded to the big new compliance challenge with a practical guide to preparing for GDPR co-written with MyDocSafe.
After launching its own cloud solution, BTCSoftware is now presenting a co-written guide with MyDocSafe. The guide provides practical tips to help small accountancy prepare for GDPR (General Data Protection Regulations) which come into force in May 2018.
The guide covers topics such as what constitutes personal data, the importance of obtaining consent under the GDPR, the rights of data subjects, and the importance of system security, given the fines for data breaches. A checklist that smaller firms can use to make sure they are ready for GDPR is also provided.
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Pandle unveiled two different versions of its partnership program.
Pandle rolled out its partnership programme in two different ways. The first option, Pandle Partner, Account offers all the popular Pandle options such as seamless switching between multiple clients’ accounts and simple addition of new clients onto the system.
A second option, the Brandle account, allows any partner to whitelabel the software, using the firm's logo and branding. It can even be hosted under the domain used by the practice.
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- IRIS revealed key findings from its research, uncovering the biggest issues faced by accounting practices and concerns surrounding Brexit, MTD, GDP and FRS compliance.
- First Corporate Law Services explains what you need to know about the purchase of own shares.
- For those with an eye to the future, Exact presented the accountant’s guide to robots, IoT and blockchain.
- Sage announced Sage One Simple Inventory, a stock management system for small businesses.