INAA Group’s Post

Driven by technological advancements, shifts in regulatory frameworks, and changing business models, the accounting landscape is evolving at an unprecedented pace. In tandem with these changes, accounting education is also undergoing a significant transformation to ensure that future accountants have the knowledge and skills needed to thrive in this dynamic environment. In this article, we will explore the future of accounting education, shedding light on how it prepares students for the jobs of tomorrow. #inaa #internationalassociation#accountants #auditors #accounting #tax #audit #finance https://lnkd.in/d6Bpg2hv

The landscape of accounting is evolving, and with it, the skill set required for professionals within the field is also extending beyond the mastery of numbers and financial regulations. Today, the integration of accounting soft skills into the professional repertoire of an accountant is not just beneficial but essential for the success and growth of accounting firms. This article delves into five critical soft skills – adaptability, attention to detail, communication, teamwork, and problem-solving – that are paramount for modern accountants. We will explore the significance of these accounting soft skills and explain how to bridge the gap between accounting education and the dynamic demands of the industry. #inaa #internationalassociation#accountants #auditors #accounting #tax #audit #finance https://lnkd.in/dvhS2jiS

Is the shortage of quality young talent in accounting impacting your organization's ability to scale growth❓ As technology advances, finance and accounting teams are under increasing pressure to keep up. Find out how aspiring accountants adapt to the changing landscape in this new data from EY's Accounting Professional of the Future survey. Read the article below for more details. https://lnkd.in/eKRsC8TT #Accounting #Finance #CareerGrowth

As the accounting profession evolves, so do the skills required to be successful. In addition to technical skills, soft skills and digital skills are becoming increasingly important this field. For a list of basic accounting skills, check out the article below: #AccountingSkills #AccountingProfessionals #CPACandidates #PKFSanDiego #Accounting #Audit #Tax #IT #Consulting #AccountingStudent #CPA https://lnkd.in/ggJMfuak

The 150-Hour Rule will kill accounting. It already is. And the AICPA continues to double down on a losing position. How is accounting going to survive with a fiefdom nobody wants to join? #accounting #accountingandaccountants #aicpa

Is the shortage of quality young talent in accounting impacting your organization's ability to scale growth❓ As technology advances, finance and accounting teams are under increasing pressure to keep up. Find out how aspiring accountants adapt to the changing landscape in this new data from EY's Accounting Professional of the Future survey. Read the article below for more details. https://lnkd.in/eNnuuNuy #Accounting #Finance #CareerGrowth

Accounting is changing forever The AICPA recognizes that accounting is no longer just about number-crunching. It's a strategic business role. So they're redesigning the CPA exam to reflect this transformation. From 2024 on, the CPA exam will have new technology-focused domains. It will also offer disciplines like data analytics to attract more talent. At the same time, firms are stepping up talent advancement. Major networks like KPMG have programs to help candidates pass the CPA while earning a salary. They know that training internal talent is key in today's market. Other firms offer sponsorship for relevant certifications too. Technology is also helping address the talent gap. Tools that automate routine work like data entry are freeing up accountants' time. Now they can focus on higher-level strategic tasks. This makes the role more engaging for the upcoming generation. While the fundamentals remain, accounting is without a doubt changing at a rapid pace. Through technology adoption and focused talent initiatives, the profession is future-proofing itself for tomorrow's world. The bottom line is - accounting is a lucrative, in-demand career. And both professional bodies and firms are working hard to showcase this to attract new talent. This is great! But it’s going to take longer to get scores in 2024. That's because the AICPA will need more time to evaluate and score the new exams.

Many smaller accountancy firms today look a great deal different to those of just a decade or so ago. The accountancy profession is rapidly evolving and small and medium-sized accountancy practices (SMPs) are at the forefront of this change, making them exciting places to kick off a career in finance. Changing the profile of modern-day tax and accounting services is a foundational ethos for The Accountancy Partnership, founded by Lee Murphy in 2006. ‘Far too many small business owners were dealing with impersonal accountants and the image of the industry was old-fashioned and outdated,’ he says. A point furthered by Michelle Westbury FCCA, director of West & Berry: ‘There is increasing diversity within the profession meaning accountants are seen as more approachable; we need clients to be able to connect and communicate with us so we can better help and advise them. The impact of new technology means the profession is more forward facing, meaning we’re able to provide advice with reference to real-time finance information.’ Read more about ‘Why small accounting firms are so attractive for early career professionals’ - 📖 https://lnkd.in/g9VXUnGi #onlinelearning #tutor #online #exams #acca #accaglobal #accounting #fmelearnonline

The AICPA has been advocating for years to include accounting as a STEM subject to help slow the shrinking pool of recruits in the accounting industry. Recognizing accounting as a STEM subject could not only help bridge the skills gap but also ensure that the accounting industry remains competitive in the global market. #accounting #STEM

This is an interesting theory on why we are facing a shortage of qualified accountants; but if testing is relaxed doesn't that impact our profession's credibility? "The 150-hour rule for obtaining a CPA license is getting blamed in many quarters lately for the shortage of accountants, but another culprit may be the proliferation of complicated accounting standards, according to a recent academic study. The study, released last December, examined the role that accounting rules from the Financial Accounting Standards Board, especially the restrictiveness of U.S. GAAP, has played in the declining supply of accountants." #accounting #accountingjobs #cpafirm #cpaexam #practicemanagement #accountingrecruitment #accountants #cpa