In this era of digital disruptions, the profession of accountancy has been significantly affected. Traditional accounting has just changed paving the way to technological innovations like Artificial Intelligence, Big Data Analytics,Block chain, Cloud Computing and all that. In such a changed environment. an accountant must be tech savvy apart from being perfect in basic fundamentals of accounting. What capabilities do you think must be acquired by an accountant to survive and succeed in future.
The most fundamental element for to be a mentor for the future in any field is SELF MOTIVATION and heartily love with any area of achievement. The real and even blended love and enthusiasm may reach you to the acme of difference to the world. In short., To change the world, one must have a dream, motivation, hard work & good strategies for real gain.
Business acumen-Technology and knowledge about any discipline are basics these days. If you are thinking value addition, then those are extra toppings, which start from thinking not only what you do but also what is expected and can be done. How is that possible? Well, there is no absolute answer but I think it can be achieved by knowing the business, its client/customer, and even indirect stakeholders. You have the role to support all these counterparts not always by numbers but also by showing their interest is still ensured and there is room for prospects.
Streamlining-One of the key success factors, for now, is information by its type, quality, speed, and relevance. That also applies to the accounting and finance department. So, being a great communication leader, an accounting professional can help people working in other departments understand, how accounting/finance is influenced by what they do to enlighten what further can be done together.
Research- This is one of the key skills employers are looking for when they hire an accounting leader. The ability to research fosters motivation to learn new things and then act differently with the available or created opportunities. Perhaps, in the future for small businesses, people even don’t need an accountant, everything will be done by interactive software, but there will still be the gap of human capability to research to improve things.
Ethics-Software and AIs are trained via machine learning algorithm which can work sometimes more than a human being, but are they able to maintain the professional ethics of an accountant; to some extent as they are trained, but with the same level of sensitivity compared to an accounting professional, I see still a long way to go. If an organization is socially responsible, they hire people who have great professional ethics. It may sound theoretical, but theories have been tested over the periods to translate into action and action into results.
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