The role of accountants is changing fast. In the past, the job of accountants was merely to crunch the numbers, put together financial statements, and help firms and individuals calculate their tax payments. But today, thanks to technology, that’s all changing.
The role of accountants is becoming far less rote and more bespoke. Accountants aren’t just human calculators, churning out tax returns: they now offer a range of services to their clients, meaning that the job has become substantially more engaging. The machines do the boring stuff, freeing up the humans for creative endeavors.
You’d think with the infiltration of technology into the sector, that the work for accountants would fall. But as technology develops, it’s lowering the cost of accounting services and leading to a more-than-proportional increase in demand. This higher demand is fuelling new accounting practices and making work in the sector more interesting.
Businesses and individuals, for instance, need accountants with creative problem-solving skills, able to understand technical problems and apply solutions. Clients also want people with high ethical standards to protect themselves against legal action, either by shareholders or the state.
Careers in accounting are changing fast. The latest data suggests that the number of accounting and finance professionals will grow by 10 percent per year until 2026, despite the advances in technology. Businesses need tax specialists, investment accountants, risk management specialists, and strategic planners.
If you’re thinking about a career in accounting, take a look at the following infographic. It shows the evolving career trends in accounting and the opportunities for people who choose it as a career path.
Infographic by University of Alabama Birmingham