24 answers
Eion
Student
Rockford, Iowa
1
Question
Asked
1356 views
How difficult will it be to get an accounting career?
I understand that AI in businesses is on the rise, especially in jobs that focus on numbers - like accounting. I have had several people, including my father, tell me to be cautious about continuing in my current field of study. Are these fears warranted?
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24 answers
Nishant Tripathi, CPA
Tax compliance
1
Answer
San Francisco, California
Updated
Nishant’s Answer
For accountants, the risk from AI is like the risk we saw with Excel in the 1990s. AI will make repetitive tasks easier, giving accountants more time for problem-solving and decision-making. This means AI will create more opportunities for accountants to advance their careers.
Rosanna Balba
Resource Management
4
Answers
Rancho Cordova, California
Updated
Rosanna’s Answer
There are many aspects to the accounting profession that AI can solve, but exercising professional judgment, understanding the business, building client relationships and solving for business problems - will not always be solutioned for by AI. AI should enhance and streamline our careers, not replace them.
David Rousseau
Senior Director, Engineering
6
Answers
Cedar, Michigan
Updated
David’s Answer
Working in a larger organization in Information Technology, I've found that the best accounting and finance people I've worked with are ones excited to understand the business and the problems we're trying to solve. That can't easily be replaced by AI. Look for ways to integrate into the core of an organization and understand what they do and how they do it so it's not just about the numbers.
Joben Dhillon
Audit
2
Answers
Tracy, California
Updated
Joben’s Answer
Great question! There may be certain limited instances in companies where accounting clerk jobs such as performing routine cash reconciliations etc, might be more dependent on an AI generative system that was originally done by an accountant as technology advances. However, for the most part, especially in public accounting, AI tools are actually already being used to help with tasks such as data entry. This doesnt mean we dont need those people that were performing those tasks before. It just means that those accountants have more time to focus on more value added work since newer staff are the ones to do most of the data entry heavy lifting. Hope this helps.
Kathleen Hoang
Tax Consultant
3
Answers
Aurora, Colorado
Updated
Kathleen’s Answer
Hi Eion,
Great question! With the rise of AI, it is understandable to have some type of fear or caution on how it will impact us in this job career. But I can say that AI is more of a resource to assist people like accountants rather than replacing. Accountants need to possess certain characteristics to serve their clients, including professional judgement and integrity, skepticism, and previous work experience that is honed over time.
I'd say that finding a job in the accounting field will not be difficult, the demand for accountants will always be there, regardless of the increase of AI use in the business field.
Great question! With the rise of AI, it is understandable to have some type of fear or caution on how it will impact us in this job career. But I can say that AI is more of a resource to assist people like accountants rather than replacing. Accountants need to possess certain characteristics to serve their clients, including professional judgement and integrity, skepticism, and previous work experience that is honed over time.
I'd say that finding a job in the accounting field will not be difficult, the demand for accountants will always be there, regardless of the increase of AI use in the business field.
Danni Seals
Tax Associate
3
Answers
Austin, Texas
Updated
Danni’s Answer
It depends on how far you would like to presume as an accounting professional. If you want to become a partner, certification and experience are the two credentials. AI is a tool to improve efficiency on work. Here is a list of requirements to become aa accounting professional:
Educational Requirements: Accounting programs can be challenging, especially the upper-level courses. A strong foundation in introductory courses is crucial . You'll need to be prepared for rigorous coursework in areas like financial accounting, taxation, auditing, and business law .
Certification: Many accounting roles require certifications such as CPA (Certified Public Accountant), which involves passing a series of exams and meeting work experience requirements. This can be demanding but is highly valued in the field .
Job Market: The demand for accountants is generally strong, offering good job security. However, competition can be intense for top positions, and having additional certifications or specializations can give you an edge .
Skill Set: Success in accounting often requires strong analytical skills, attention to detail, and proficiency with numbers. Good communication skills are also important, as accountants need to explain financial information clearly to clients and colleagues .
Continuous Learning: The field of accounting is always evolving with new regulations and technologies. Lifelong learning and staying updated with industry changes are essential
Educational Requirements: Accounting programs can be challenging, especially the upper-level courses. A strong foundation in introductory courses is crucial . You'll need to be prepared for rigorous coursework in areas like financial accounting, taxation, auditing, and business law .
Certification: Many accounting roles require certifications such as CPA (Certified Public Accountant), which involves passing a series of exams and meeting work experience requirements. This can be demanding but is highly valued in the field .
Job Market: The demand for accountants is generally strong, offering good job security. However, competition can be intense for top positions, and having additional certifications or specializations can give you an edge .
Skill Set: Success in accounting often requires strong analytical skills, attention to detail, and proficiency with numbers. Good communication skills are also important, as accountants need to explain financial information clearly to clients and colleagues .
Continuous Learning: The field of accounting is always evolving with new regulations and technologies. Lifelong learning and staying updated with industry changes are essential
Amanda Julian
12
Answers
Updated
Amanda’s Answer
It's understandable to have concerns about the impact of AI on accounting careers. While AI is indeed transforming the industry, it doesn't necessarily mean that accounting jobs are disappearing. Here are some key points to consider:
Current Job Market Trends
High Demand for Accountants: Despite the rise of AI, there is still a strong demand for skilled accountants. The unemployment rate for accountants and auditors remains low, and many accounting roles are in high demand.
Shortage of Accountants: There is a critical shortage of accountants due to fewer students entering the field and many professionals retiring or leaving for other opportunities. This shortage can actually work in your favor, as it increases job security and potential salary offers.
Impact of AI on Accounting
Automation of Routine Tasks: AI is primarily automating repetitive and mundane tasks, such as data entry and basic financial reporting. This allows accountants to focus on more strategic and value-added activities, like financial analysis, advisory services, and decision-making
Enhanced Efficiency: AI tools can enhance efficiency and accuracy in accounting processes, making it easier for accountants to handle complex tasks and provide deeper insights into financial data.
Complementary Role: AI is seen as a tool that complements accountants rather than replaces them. Human skills such as judgment, creativity, and emotional intelligence are still crucial and cannot be fully replicated by AI.
Skills to Focus On
To thrive in the evolving accounting landscape, consider developing the following skills:
Technical Proficiency: Stay updated with the latest accounting software and AI tools used in the industry.
Analytical Skills: Enhance your ability to analyze financial data and provide strategic insights.
Communication Skills: Strong communication skills are essential for explaining complex financial information to clients and stakeholders.
Adaptability: Be open to learning new technologies and adapting to changes in the industry.
Conclusion
While AI is changing the accounting profession, it also presents opportunities for growth and innovation. By focusing on developing both technical and soft skills, you can position yourself for a successful career in accounting. Your concerns are valid, but with the right preparation, you can navigate these changes effectively.
Current Job Market Trends
High Demand for Accountants: Despite the rise of AI, there is still a strong demand for skilled accountants. The unemployment rate for accountants and auditors remains low, and many accounting roles are in high demand.
Shortage of Accountants: There is a critical shortage of accountants due to fewer students entering the field and many professionals retiring or leaving for other opportunities. This shortage can actually work in your favor, as it increases job security and potential salary offers.
Impact of AI on Accounting
Automation of Routine Tasks: AI is primarily automating repetitive and mundane tasks, such as data entry and basic financial reporting. This allows accountants to focus on more strategic and value-added activities, like financial analysis, advisory services, and decision-making
Enhanced Efficiency: AI tools can enhance efficiency and accuracy in accounting processes, making it easier for accountants to handle complex tasks and provide deeper insights into financial data.
Complementary Role: AI is seen as a tool that complements accountants rather than replaces them. Human skills such as judgment, creativity, and emotional intelligence are still crucial and cannot be fully replicated by AI.
Skills to Focus On
To thrive in the evolving accounting landscape, consider developing the following skills:
Technical Proficiency: Stay updated with the latest accounting software and AI tools used in the industry.
Analytical Skills: Enhance your ability to analyze financial data and provide strategic insights.
Communication Skills: Strong communication skills are essential for explaining complex financial information to clients and stakeholders.
Adaptability: Be open to learning new technologies and adapting to changes in the industry.
Conclusion
While AI is changing the accounting profession, it also presents opportunities for growth and innovation. By focusing on developing both technical and soft skills, you can position yourself for a successful career in accounting. Your concerns are valid, but with the right preparation, you can navigate these changes effectively.
Sandra Abundio
Auditor
1
Answer
Los Angeles, California
Updated
Sandra’s Answer
Hi!
This is a great question that I think many people, including myself, have wondered while pursuing a career in accounting. However, it wasn't until I entered the profession that I realized the "soft" and critical thinking skills involved in accounting that AI cannot replace.
We are still responsible for making professional judgments, documenting reasonable conclusions, and communicating complex findings to clients and stakeholders. While AI can definitely help aid the profession, it cannot completely replicate the nuanced decision-making, ethical considerations, and interpersonal skills that are essential in accounting. I also think that AI and other forms of advanced technology have actually enhanced an accountant's day-to-day experience. For example, tasks that used to take hours—like organizing client-provided data—can now be completed in a fraction of the time with the help of a strong data analytics team. With that, you free up valuable time to focus on providing higher-quality solutions to more complex client issues that technology such as AI cannot address. And the knowledge you gain in focusing on more complex problem-solving is much more beneficial to your career than hours of mundane data clean-up. I think you will definitely get to see this play out as you progress in the career, so I wouldn't worry too much about AI potentially replacing accounting careers in general.
Hope this helps!
This is a great question that I think many people, including myself, have wondered while pursuing a career in accounting. However, it wasn't until I entered the profession that I realized the "soft" and critical thinking skills involved in accounting that AI cannot replace.
We are still responsible for making professional judgments, documenting reasonable conclusions, and communicating complex findings to clients and stakeholders. While AI can definitely help aid the profession, it cannot completely replicate the nuanced decision-making, ethical considerations, and interpersonal skills that are essential in accounting. I also think that AI and other forms of advanced technology have actually enhanced an accountant's day-to-day experience. For example, tasks that used to take hours—like organizing client-provided data—can now be completed in a fraction of the time with the help of a strong data analytics team. With that, you free up valuable time to focus on providing higher-quality solutions to more complex client issues that technology such as AI cannot address. And the knowledge you gain in focusing on more complex problem-solving is much more beneficial to your career than hours of mundane data clean-up. I think you will definitely get to see this play out as you progress in the career, so I wouldn't worry too much about AI potentially replacing accounting careers in general.
Hope this helps!
Danny Seo
4
Answers
New York, New York
Updated
Danny’s Answer
Even with the rapid rise of AI, accountants—especially in roles such as auditing—remain essential to the profession. For example, while auditors may increasingly use advanced AI tools to enhance the audit process, it is highly unlikely that AI will ever fully replace human expertise. Instead, the future of accounting will likely involve professionals leveraging and overseeing advanced technologies like AI, ensuring that human judgment, ethical standards, and critical thinking remain at the core of the auditing process.
Kate Herrera
Human Resources Management
3
Answers
Colorado Springs, Colorado
Updated
Kate’s Answer
This is actually a pretty big misconception about accounting in general! Most people think that we are a data-oriented job, and we spend all of our time crunching numbers. And while that’s true to some degree, accounting is actually a LEGAL profession more than a technical one. Accountants are primarily concerned with ensuring that financial data is tracked, managed, and presented in accordance with the law. We do not often sit at our computers and process large amounts of repetitive data, like a data scientist would. Instead, we methodically apply legal guidelines to financial transactions.
AI is excellent at certain things: language-based tasks, managing and aggregating large data sets, and automating tedious processes. But these aren’t the kinds of things that accountants actually do. It can’t do things like translating an expense report into a journal entry. A human accountant is required to do that.
One thing that AI has been notoriously unable to get very good at is anything related to law. I’ve asked ChatGPT questions about CPA exam topics just to see if it was correct; the answer it gave me was wrong! So, legal professions are pretty safe from AI at this point. It is a long, long way from being able to do these kinds of high-level critical thinking tasks. Perhaps in our lifetime, AI will be able to manage simple bookkeeping. But I am doubtful it will ever replace accounting professionals.
AI is excellent at certain things: language-based tasks, managing and aggregating large data sets, and automating tedious processes. But these aren’t the kinds of things that accountants actually do. It can’t do things like translating an expense report into a journal entry. A human accountant is required to do that.
One thing that AI has been notoriously unable to get very good at is anything related to law. I’ve asked ChatGPT questions about CPA exam topics just to see if it was correct; the answer it gave me was wrong! So, legal professions are pretty safe from AI at this point. It is a long, long way from being able to do these kinds of high-level critical thinking tasks. Perhaps in our lifetime, AI will be able to manage simple bookkeeping. But I am doubtful it will ever replace accounting professionals.
Cyndi Garcia
Accounts Payable
4
Answers
St. Louis, MO
Updated
Cyndi’s Answer
There is a very wide spectrum of various job opportunities in the accounting field and every company must manage their finances. It is crucial to their survival. The field is ever growing and AI is only adding another layer.
Canyon Van Cleave
Accounting
2
Answers
Aledo, Texas
Updated
Canyon’s Answer
The accounting field offers many exciting career paths, giving you lots of ways to succeed. While AI can help make some accounting tasks easier, there's still a big demand for smart and skilled people to look at data, understand it, and see risks in ways that AI can't. Accounting remains a fantastic profession with lots of opportunities.
Emanuel Olivares
Accountant
4
Answers
San Francisco, California
Updated
Emanuel’s Answer
Advancements in technology and artificial intelligence and there implementation into the accounting field serve as means to eliminate repetitive tasks and instead make life easier for the auditor. The likelihood that AI will cause accountants to have limited career options, I would say is fairly low, as our profession requires human professional judgement, which is extremely important in the audit process.
Laura Lowry
3
Answers
Pittsburgh, Pennsylvania
Updated
Laura’s Answer
A career in accounting is about more than just the numbers - accounting is also a people-focused and problem-solving career. While certain things within the accounting profession may be automated to make jobs more efficient and effective, accountants will be needed to understand the business, exercise professional judgment, form relationships, etc. to effectively serve clients.
Sandra Hoeft
CPA
3
Answers
Milwaukee, Wisconsin
Updated
Sandra’s Answer
Generative AI will continue to stream line the processing of transactions or initial review of documents. It creates efficiency with recording and analyzing individual transactions. Companies will need business advisors (internally and externally) that can analyze the output, learn their business needs, provide advice and build relationships. As with any industry, the accounting and finance professions will identify the best way to use AI to create efficiency while maintaining the integrity of the profession.
Molly Newby
Payroll Manager
3
Answers
New Palestine, Indiana
Updated
Molly’s Answer
While AI can be helpful to accountants, I don't think there is much threat that AI will replace people. AI still can't interpret data in meaningful ways like people can. This seems to be a pattern repeated in our culture - that the next wave of technology will replace humans doing the work, but many times it just isn't true! Sometimes it can change jobs for humans, but more often than not they are positive changes that allow us to work on more fulfilling and meaningful work.
Samantha Lindas
International Tax Accountant
3
Answers
Holly Springs, GA
Updated
Samantha’s Answer
This is a good question. AI will have an impact on the accounting field, but I believe will not fully overtake it. In the case of auditing, internal controls will require oversight and regulation. For tax, changes to tax law can be unexpected and have wide implications. In addition, many small businesses depend on local accountants to keep the books and might be less likely to switch to an AI model.
Eric Chang
Risk and Financial Advisory Analyst
4
Answers
Los Angeles, California
Updated
Eric’s Answer
A career in accounting is a great choice because it's very stable. If you are good with numbers and enjoy working with Excel, this could be perfect for you. It's important to think about what you like since you'll be doing this job every day. If you have skills in math, economics, or accounting, you'll find this path straightforward and rewarding.
Chin Chin Leong
CFO, Finance Leader, Financial Analyst, Financial Management, Finance Manager
2
Answers
Singapore
Updated
Chin Chin’s Answer
I would say embrace AI and other tech advances that will come. In finance, this can mean using AI to replace mundane & repetitive tasks, so you can invest your time & skills on creative outcomes, connecting insights from your work group to the data (from AI), and innovating solutions with your teammates - all of which require human intellect & collaboration!
Olga Psakhis, CISA, CISSP
IT Auditor
6
Answers
Detroit, Michigan
Updated
Olga’s Answer
Accounting jobs will always be needed, especially due to requirements of having a CPA. Yes the profession will change and mundane tasks will be assisted by AI, but it's not going away
Michael Polimeno
2
Answers
Updated
Michael’s Answer
Hi Eion,
Good question. AI in the accounting profession is going to be used to help assist accountants, rather than replace them. Accountant's judgement is valuable that won't be replaced by AI. Accountants possess many planning, judgement, and people skills that are used every day in business.
Good question. AI in the accounting profession is going to be used to help assist accountants, rather than replace them. Accountant's judgement is valuable that won't be replaced by AI. Accountants possess many planning, judgement, and people skills that are used every day in business.
Jake Schachter
Audit
12
Answers
Los Angeles, California
Updated
Jake’s Answer
Like with any profession AI is a risk. However, there is still certain problem solving and client communication that will still need to be done by us.
Daniel Zaninovich
Tax
3
Answers
Irvine, California
Updated
Daniel’s Answer
Technology and AI are here to stay. I think instead of looking at it as something that can hurt you--try to think of it as a tool that you can learn, leverage, and provide value through it. Someone needs to direct AI, right?
Beau Choi
2
Answers
Updated
Beau’s Answer
Hi Eion,
Great question! I graduated less than 4 years ago, so I had similar concerns when I was in undergrad/grad. I primarily perform internal audits and provide audit consultation to my clients, so I'll speak to this from an auditor's perspective.
There are aspects to auditing that, as an auditor, I can delegate to AI. That being said, the majority of tasks that I delegate to AI are very unvaried, repetitive, and menial.
I want to particularly emphasize two very important, crucial skills that auditors must exercise, which are "professional skepticism" and "professional judgement." Auditing involves problem solving, analytical thinking, critical thinking, and intuition, which are qualities that AI does not have. We are far from being able to say, "Hey Alexa, complete this audit."
I'd say a great mindset to have is to look at AI as just another tool that you can utilize to make your life easier. Like all tools, AI's utility is derived from the decision-making capabilities of its wielder. Learn how to use AI to your benefit, but do not wholly depend on it.
Hope this helps!
Great question! I graduated less than 4 years ago, so I had similar concerns when I was in undergrad/grad. I primarily perform internal audits and provide audit consultation to my clients, so I'll speak to this from an auditor's perspective.
There are aspects to auditing that, as an auditor, I can delegate to AI. That being said, the majority of tasks that I delegate to AI are very unvaried, repetitive, and menial.
I want to particularly emphasize two very important, crucial skills that auditors must exercise, which are "professional skepticism" and "professional judgement." Auditing involves problem solving, analytical thinking, critical thinking, and intuition, which are qualities that AI does not have. We are far from being able to say, "Hey Alexa, complete this audit."
I'd say a great mindset to have is to look at AI as just another tool that you can utilize to make your life easier. Like all tools, AI's utility is derived from the decision-making capabilities of its wielder. Learn how to use AI to your benefit, but do not wholly depend on it.
Hope this helps!