A Brief Overview of Accounting’s Evolution Accounting has always been central to business management, traditionally focused on recording and reporting financial transactions, providing essential compliance and monitoring capabilities. For much of its history, it was seen as a back-office function, holding valuable data without directly influencing collaboration or decision-making across the organisation. The first major transformation came with the rise of information technology (IT). Technological advancements and automation kicked off accounting's evolution, steering it from reliance on paper records toward becoming a robust data-driven discipline. These advancements improved accuracy, streamlined information, and reduced repetitive tasks, allowing finance professionals to shift their focus from routine processing to deeper analysis. This technological shift marked the beginning of accounting’s evolution from a passive…
What’s Next for Accounting? Key Shifts Defining the Next Decade Accounting has long been seen as a stable profession, but that image no longer holds. Similar to other industries, it is being reshaped by automation, artificial intelligence (AI), evolving regulatory frameworks, and shifting client expectations. The accounting field is being reshaped by four major trends, impacting how accountants work and the value they provide. Firstly, accountants are increasingly stepping into the role of strategic business advisors. The automation of repetitive and low-skill tasks enables accountants to take on more analytical and strategic responsibilities. As leaders face increasingly complex decisions, accountants are becoming partners in guiding long-term strategy. At the same time, emphasis on sustainability and integrated reporting is pushing companies…
The Business Pre‑Nup vs. The Business Divorce In our previous article, we discussed the importance of a shareholders’ agreement as the “business pre-nup” i.e., setting ground rules for managing a business together as co-owners. But what happens when someone decides to leave the partnership? Every business partnership has two chapters: coming together and parting ways. The Sale & Purchase Agreement (SPA) governs the second. If the shareholders' agreement is the "pre-nup", then the SPA is the divorce agreement drafted before the wedding. One party exits and the SPA decides who keeps what, how the price is paid, and who bears responsibility if any surprises come up later. For example, Party A and Party B have been business partners for years.…
Bridging Worlds: A Journey of Growth, Innovation, and Relevance With the average company lifespan plummeting from 67 years to just 14—and predictions that half of today’s S&P 500 could vanish in the next decade—staying relevant has never been more critical. This article explores the journey of Araz Najarian and how she supports businesses in staying relevant and purposeful through her work at ELP Network. Founded over 25 years ago, ELP Network emerged from the vision of four individuals— with a combined background of academic expertise, and extensive executive business experience. Together, they set out to bridge these two worlds, creating a practice that would help businesses achieve sustainable growth and maintain relevance in an ever-evolving marketplace. This vision laid the…
Navigating Generational Shifts: 5 Key Takeaways to Leverage the Strengths of Gen Z and Millennials With Gen Z and Millennials entering and dominating the workforce, many business leaders are faced with the timeless challenge of managing generational differences and effectively engaging the younger generation. Each generation has its own set of values, priorities, and perspectives toward work, which can often lead to misalignment and misunderstandings between older and younger employees. Where Baby Boomers and Gen X often emphasize loyalty, stability, and traditional career paths, Gen Z and Millennials are driven by a different set of values and career priorities. They seek purpose-driven work, flexibility, and autonomy, and they place high importance on mental health and well-being. Understanding these shifts, which…
