6 answers
Savannah
Student
Irmo, South Carolina
1
Question
Asked
622 views
What emerging trends in accounting and finance should upcoming college students focus on to be ahead of the game in their careers after graduation?
I am a high school senior about to graduate and go to college, I would like to major in accounting or finance. I enjoy working with numbers, solving problems, and having a set answer with minimal open ended responses.
Login to comment
6 answers
Samarth N
World-Wide Accounts Payable - HPE
1
Answer
Bengaluru, Karnataka, India
Updated
Samarth’s Answer
Hi Savannah, AI and automation are really popular right now, especially in fields like blockchain and RPA (Robotic Process Automation). To make yourself stand out, you might want to consider taking some special courses along with your college studies. Options include the US Certified Management Accountant (CMA), which I hold myself, Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), or Association of Chartered Certified Accountants (ACCA). These certifications are one of the few popular ones that help you focus on specific parts of accounting and finance and are globally recognized. Invest time in exploring these courses to find where your interest lies. Good luck!
Aiden Tascic
3
Answers
Los Angeles, California
Updated
Aiden’s Answer
Hi Savannah,
All great answers. I’d just add that growth is key in any industry. Building strong people skills and a solid network will open doors and create opportunities wherever your career takes you. Relationships and communication are just as valuable as technical skills.
All great answers. I’d just add that growth is key in any industry. Building strong people skills and a solid network will open doors and create opportunities wherever your career takes you. Relationships and communication are just as valuable as technical skills.
Travis Christens
Director of Business Analytics
1
Answer
Madison, Wisconsin
Updated
Travis’s Answer
Hi Savannah,
Accounting and Finance are being impacted by technology and the adoption of stronger reporting tools and AI. Groups are looking to minimize their efforts during financial close, get detailed knowledge of the data and transactions that make up their financial statements, and are increasingly challenged with systems and data living outside of their main ERP or Accounting software. This leads to a lot of manual Excel-based reporting and repetitive tasks.
Technology is changing this industry from the ground up. RPA as Samarth mentioned is a major area for improvement. Additionally, groups are looking to centralize their data and define the relationships and definitions of that data. Once it's centralized more robust reporting is possible, but the major impact in today's world is the preparation for Generative AI. Generative AI can do a lot with unstructured or semi-structured data, but in the world of Accounting and Finance numbers need to tie out which has been a challenge with these LLMs like ChatGPT. Data platforms are now bringing Generative AI directly into their platform to extend this functionality.
With that said having a good understanding of data concepts and relationships is key. There are so many free courses on Data and AI out there including YouTube videos, universities and online resources like Stanford and Coursera providing free courses online to get you started, and the platforms themselves like Microsoft Azure and Databricks provide free training as well. Look for training on data engineering and generative ai / prompt engineering, languages like Python and SQL, and reporting tools like Power BI or even Excel!
Technology can be overwhelming and hard to figure out where to start. So, start small and pick a lane that aligns with your interests. Example - if you like visualizations (charts, graphs, kpis, dashboards) start with Power BI and Excel, or if you like logical problems start an entry level course in a programming language learning both the syntax and the concepts. Remember that programming languages are all around you - when you build an equation in Excel that's effectively using a language. Don't let this overwhelm you and take it one step at a time!
You've got this. Don't be deterred by challenges. Everyone struggles through learning these different components. Use the tools around you including LLMs like ChatGPT to help you learn it exponentially faster than ever before. When you run into a challenge or don't understand something one great way it is capturing the error message or the incorrect output and prompt an LLM to help you understand what those mean. You'll be an expert in no time.
Best,
Travis
Accounting and Finance are being impacted by technology and the adoption of stronger reporting tools and AI. Groups are looking to minimize their efforts during financial close, get detailed knowledge of the data and transactions that make up their financial statements, and are increasingly challenged with systems and data living outside of their main ERP or Accounting software. This leads to a lot of manual Excel-based reporting and repetitive tasks.
Technology is changing this industry from the ground up. RPA as Samarth mentioned is a major area for improvement. Additionally, groups are looking to centralize their data and define the relationships and definitions of that data. Once it's centralized more robust reporting is possible, but the major impact in today's world is the preparation for Generative AI. Generative AI can do a lot with unstructured or semi-structured data, but in the world of Accounting and Finance numbers need to tie out which has been a challenge with these LLMs like ChatGPT. Data platforms are now bringing Generative AI directly into their platform to extend this functionality.
With that said having a good understanding of data concepts and relationships is key. There are so many free courses on Data and AI out there including YouTube videos, universities and online resources like Stanford and Coursera providing free courses online to get you started, and the platforms themselves like Microsoft Azure and Databricks provide free training as well. Look for training on data engineering and generative ai / prompt engineering, languages like Python and SQL, and reporting tools like Power BI or even Excel!
Technology can be overwhelming and hard to figure out where to start. So, start small and pick a lane that aligns with your interests. Example - if you like visualizations (charts, graphs, kpis, dashboards) start with Power BI and Excel, or if you like logical problems start an entry level course in a programming language learning both the syntax and the concepts. Remember that programming languages are all around you - when you build an equation in Excel that's effectively using a language. Don't let this overwhelm you and take it one step at a time!
You've got this. Don't be deterred by challenges. Everyone struggles through learning these different components. Use the tools around you including LLMs like ChatGPT to help you learn it exponentially faster than ever before. When you run into a challenge or don't understand something one great way it is capturing the error message or the incorrect output and prompt an LLM to help you understand what those mean. You'll be an expert in no time.
Best,
Travis
Jack Battaglia
Family Office
2
Answers
Savannah, Georgia
Updated
Jack’s Answer
Hi Savannah - Many industries are focusing on AI right now. I recommend choosing AI-focused electives each year in college. Since the industry evolves quickly, keeping up with the latest AI developments is crucial.
Rosanna Balba
Resource Management
4
Answers
Rancho Cordova, California
Updated
Rosanna’s Answer
Samarth's answer is excellent! Today, we have a big push for automation at our firm in an effort to streamline processes and work efficiently. While understanding and studying the core concepts for accounting and finance is important, taking an interest in how AI can transform businesses will set you ahead of the game.
Asma Khan
Tax Accountant
5
Answers
Moorpark, California
Updated
Asma’s Answer
Hi Savannah! AI is definitely a good one to consider. However, since a lot of people are now going into the AI industry, I would recommend Advisory skills instead. As automation takes over regular tasks, many of the roles are shifting toward strategic advising. As a result, strong communication and critical thinking are key factors that differentiate you and another candidate. Good luck with your career!