On Jan. 1, the U.S. government stepped down from the "fiscal cliff," only to face an impending debt crisis that threatens to downgrade the U.S. credit rating and increase interest rates.
As accountants in business and industry -- as management accountants -- we are in a unique position to drive changes to our organizations' business strategies by providing guidance, planning and expertise. It's not an easy task, however. We need to find the right balance between managing risk and uncertainty and driving growth and innovation.
The AICPA is closely monitoring the situation in Washington and is working to provide you with the most updated resources and information. The AICPA created a Web page featuring news, webcasts and tools. Additionally, the Journal of Accountancy created a Web page that curates all of its articles on the "fiscal cliff," the debt ceiling and tax reform.
What is your organization doing to mitigate risk while continuing to drive growth during these turbulent economic times? Has your strategy changed, or is it business as usual? Tweet me @ArleenCPA.