Latest news with #CertifiedPublicAccountants
Business Insider
5 hours ago
- Business
- Business Insider
The AI startup Nominal wants to address the accountant shortage. Read the pitch deck that it used to raise $20 million.
The startup Nominal raised $20 million to turbocharge financial planning with agentic AI. The serial founders sold their last AI startup for $70 million. As the number of people becoming accountants declines, AI startups are trying to address that. Nominal, a New York-based startup seeking to turbocharge financial planning with agentic AI, raised $20 million last month. The AI startup is arriving at an opportune moment as the number of people becoming Certified Public Accountants (CPAs) is on the decline. Cofounder and CEO Guy Leibovitz shared the pitch deck the team used to close its Series A. The deck showed how Nominal would use AI to address the accountant shortage and handle manual accounting labor, as the majority of accountants approach retirement and fewer people take the CPA exam. Nominal's new round brings its total funding to $30 million. Next47 led the round, which included participation from Workday Ventures, Bling Capital, and Hyperwise Ventures. The company declined to share its valuation. Leibovitz and Nominal's cofounder and CTO, Golan Kopichinsky, previously built another AI startup together in data security, Cognigo, which sold to NetApp for $70 million in 2019. After the acquisition, Leibovitz saw firsthand much of the manual work NetApp's finance teams struggled with, which inspired the creation of Nominal. Leibovitz likened Nominal to a hot $5 billion legal tech startup by calling it " Harvey for accountants and finance teams." Nominal plugs into a company's existing enterprise resource planning (ERP) system and helps CFOs and controllers automate tasks to reduce manual work and errors. The company said its product can analyze financial forecasts, reconcile balance sheets, and more. Nominal makes money by selling annual subscriptions based on usage, and Leibovitz said revenue doubled every quarter last year. Funding will go to expanding operations in North America and adding more AI agents to the product. Nominal has 40 employees, Leibovitz said, and it has dozens of customers, including auto shop chain Jiffy Lube and business travel company GoGlobal. Nominal isn't alone in disrupting ERP systems with AI. Earlier this month, AI startup Rillet announced it raised $70 million from Andreessen Horowitz and ICONIQ, while Campfire announced a $35 million Series A raise led by Accel in June. Here's a look at the pitch deck Nominal used to raise its $20 million Series A. Certain slides have been edited and removed so that the deck can be shared publicly. Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal Nominal
Arab News
6 days ago
- Business
- Arab News
Saudi accounting organization to conduct fellowship exams in English
RIYADH: The Saudi Organization for Certified Public Accountants will make its fellowship available internationally by offering their exam in English alongside Arabic. Registration will begin on Thursday and the first exam will be held in September. 'The SOCPA fellowship has gained recognition from respected professional bodies around the world for its rigorous standards and advanced curriculum, making it one of the most sought-after qualifications in accounting and auditing,' according to a press release issued by the organization on Tuesday. Accountants and professionals from any country can earn the fellowship by completing the program and taking the exam in English. The exam consists of 75 percent multiple-choice questions and 25 percent essay questions. It includes six main subjects: Financial accounting, managerial and governmental accounting, auditing, zakat and tax, business environment, and regulations. It combines academic study with practical application. Ahmed Al-Meghames, CEO of SOCPA, told Arab News: 'The SOCPA fellowship is distinguished by its standardized accounting content and diversity, covering accounting aspects and the environment in which it operates.' 'It prepares holders to work efficiently in diverse and multifaceted regulatory environments,' he said. 'Our vision is for the SOCPA fellowship to become a global benchmark for excellence in accounting, reflecting international best practices and highlighting the Kingdom's leadership in the accounting sector,' Al-Meghames said. This aligned with the objectives of Saudi Vision 2030 to diversify the economy, develop human capital and solidify the Kingdom's position as a regional and global hub for financial and professional services. 'Our strategy combines competition and integration while fulfilling the aspirations of beneficiaries of accounting and financial services in the Kingdom,' Al-Meghames said. The number of professional licenses issued in the past five years has increased by 126 percent compared to the total issued since SOCPA's establishment in 1992. 'This reflects the significant progress witnessed by the Saudi accounting sector,' he said.
GMA Network
03-06-2025
- Business
- GMA Network
UP-Diliman grad named May 2025 CPA licensure exam topnotcher
A graduate from the University of the Philippines - Diliman gained the highest rating in the May 2025 Certified Public Accountants (CPA) Licensure Examination, the Professional Regulation Commission (PRC) announced. John Elrich Ramirez Gamboa gained a rating of 92.67, the highest among 3,156 accountants who successfully hurdled the exam. The rest of the Top 10 graduates are as follows: The top performing schools with 50 or more examinees and with at least 80% passing percentage are: University of the Philippines - Diliman Bicol University - Daraga For the complete list of passers, click here.
Yahoo
02-05-2025
- Yahoo
Treasurer Pack brings unclaimed property check to Bridgeport Police Department
BRIDGEPORT, (WBOY) — West Virginia Treasurer Larry Pack stopped in Harrison County on Thursday, where he delivered an unclaimed property check to the Bridgeport Police Department worth $10,812. According to Pack, one of the sections of unclaimed property includes gun auctions that are held by the State Treasurer's Office to help local police departments. 'Basically, get rid of the guns that they have. Sell the guns at auction, so they can get the money back to be able to use for their budget,' said Pack. 'So we go through a real long process with the local police departments after the crime's been adjudicated, after all the case and everything is done.' Pack stated that this process includes checking serial numbers, as well as ensuring that the guns work and that no modifications have been made. There are two on-site auctions that are held each year in Charleston, where federal gun dealers are able to come in and purchase the firearms. According to Pack, the State Treasurer's Office recently began implementing online auctions to expand its reach. 'With the advantage of online auctions is the gun dealers are from a larger part of the country,' he added. 'They don't have to have the [expenses] to come in, so it's all about returning money back to local police departments.' WVDOT website updated with maintenance project info Pack told 12 News that this year, his office is returning about $500,000 to police departments all across the state. The money that was presented to the Bridgeport Police Department on Thursday is from a state auction held on March 27. The March gun auction raised more than $132,000, which was divided up among 18 law enforcement agencies across the state. 'They need the money, their budgets our always stretched,' Pack added. 'So it's a really good thing that we can help them with and we're blessed to be able to do it, and anything we can do to help our local police departments is a good day.' Packed also said that the State Treasurer's Office currently has about $400 million in unclaimed property for the state of West Virginia. This unclaimed property includes funds that belong to businesses, non-profits, and individuals. 'It may be an old savings account you forgot about,' said Pack. 'It's also coupons, it's gift cards, it's insurance policies, it's refunds from hospitals. The money comes to us from a lot of different ways–our job is to find the rightful owners.' This year, Pack stated that his office has already returned about $40 million to West Virginians around the state. He said that even if you think you don't have any, it's important to check the State Treasurer's Office Unclaimed Property website, because he and his wife recently received about $300 from various places due to being CPAs (Certified Public Accountants). Once you go to the website, Pack stated that you can enter your name and home address. After doing that, the State Treasurer's Office will review your form and send something back to you via mail to let you know whether or not you have unclaimed property in the state of West Virginia. 'Just a lot of different ways money can come to you. We wanna get it back to the rightful owners,' Pack added. 'It's a program we worked really really hard on and love to be able to get more folks to do it.' There's no statute of limitation on unclaimed property, according to Pack, so the money just remains in the State Treasurer's Office if it never gets claimed. 'If there's something out there 100 years ago that your great-grandma had…if you can prove ownership, we'll give it to you,' he added. 'It's always good to be in Harrison County, it's great to be able to help Bridgeport Police Department,' Pack said. He also encouraged people to check the WV Treasurer's website for any additional information and resources. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
