Eduardo
Is accounting a career that will be unecessary in the near future?
Technology has advanced to the point where accountants are near useless, and thus wanted an opinion from different people. #accounting #financial-accounting #dead #useless #accountant
4 answers
Danny Engelman, CPA
Danny’s Answer
Accounting has gone through many changes over the years. Every time a new technology comes along, similar questions are raised. For instance, people were concerned that spreadsheet software would render accountants obsolete.
The accounting profession relies on multiple frameworks for guidance, but with all of the possible forms that financial transactions can take, often things do not fit neatly into one category. In many cases assumptions must be relied upon and judgement must be employed in order to formulate a position.
Process automation, artificial intelligence, and machine learning are some of the new technologies which are raising these concerns anew. However, much like the introduction of spreadsheet software, these technologies will play a role to change some of the things that accountants spend time on, but they will not render the professionals obsolete. The technology will reduce the time spent on manually manipulating data and typing out formulas.
By reducing the time spent on mechanical tasks, accounting professionals spend more time learning, in to be more valuable to clients. Accountants can focus more on analyzing data trends from growing sets of data and using the results to help clients plan and operate businesses.
Danelle Wagner, CPA
Danelle’s Answer
The accounting profession is an ever-evolving career path. The way I worked when I started 8.5 years ago looks nothing like what I do today, although the end result is quite the same.
Accountants today wear many hats and that will continue to change. Technology, data analytics, artificial intelligence, and robotics are driving forces in our industry right now. Many of us are transforming into advisors for our clients.
It is true that there is less adding and balancing numbers in spreadsheets or on paper, because computers can do that for us. However, the opportunities to focus on exciting and impactful projects are endless.
As long as there are businesses looking to improve, accounting careers will continue to be relevant.
Danelle recommends the following next steps:
Travis Howard
Travis’s Answer
Many accounting processes are being automated, but accounting will never be completely obsolete. There will always need to be people to implement solutions. The automations help to provide the younger professionals with more review and consulting opportunities than ever before.
Courtney Ginsburg
