more-arw search

Why Accountants Are A Threatened Species

First of all I have nothing against accountants and once or twice I have been called one myself. However, in today’s business environment and with the current trends in Finance as described in the article “Introducing The Finance Transformation Nine Box” the need for true accountants has become less and less. The main driver behind this is no doubt technology as companies in their efforts to automate and digitize are aiming at solutions that will enable the customer to do business with them online without any interaction with company staff. The flipside of this is that when all transactions become automated the debit / credit will also be done automatically. Reconciliations will be automated and whenever something doesn’t match (which by the way wouldn’t happen often as no human intervention also minimizes the risk of mistakes) a controller can easily review the unmatched transactions and make the needed corrections.

 

Not only a large company phenomenon

At my previous job as a finance manager in a small company, I had a team of two accountants. We made a clear strategy on how we could optimize all transactional finance tasks that included.

  • Better utilization of the system (despite being a very dated accounting system)
  • Clearly focusing on the tasks that really mattered while eliminating all waste
  • Implementing cloud-based solutions such as Concur for travel expense management and invoice workflows.

The result was quite clear. During my time in the position the company grew 200% and the number of transactions naturally also grew significantly. However, we didn’t hire any additional accountants.

This harmonizes very well with a recent study done by CFO Research finding that 52% of companies were considering a system upgrade to improve their transactional processes while an almost equal 50% would look to improve their processes.

 

What the current trend means for accountants

As described in several previous articles the current trend in Finance is to partner with the business to create more value for the company. It is very clear that transactional finance or finance operations is not part of this trend so while optimizing working capital and running lean OtC and PtP processes are certainly still important this is not what is talked about when saying that Finance should create value for the company. The ways Finance will create value are based on bringing analysis to the business and discussing how the business can be improved. I will go much more in depth on this next week, but there is no doubt that this puts extreme pressure on the traditional accountant. (S)he can try and develop to keep up with the trend by developing better analytical skills and communication skills which are not typically associated with accountants. However, the good old bean counter is certainly a threatened species and there is no one coming to save him / her.

 

A different kind of education is needed

Traditional education in finance and accounting has focused a lot on the basic skills like debit / credit, variance analysis and how to calculate KPIs. Very little focus, however, has been put on explaining all the information derived from this to people outside of finance. These are the people that run the business in the front line yet many accountants simply don’t know how to talk to them. While even the most distinguished business partner still needs to have a basic understanding of accounting it is clear that future education in finance and accounting needs to put a lot more emphasis on communication skills, how to make presentations and how to facilitate running a business. Most job ads looking for finance people these days from CFO and down all want these coveted soft skills, however, only a few companies and educations have put in the needed effort to develop these.  No matter what happens though, if you are a traditional accountant i.e. a classic bean counter your days are numbered and you need to figure out fast what you will be doing in the future!

 

What do you think will happen to the accountants in the future? Do they still have a role to play or will they in fact, be extinct? What can we do to fix accounting education to ensure that a different focus is applied to cater for future needs rather those of an analog past?

Comments

Anonymous
(Independent Consultant) |

As a CPA with over 25 years of corporate experience, I think accountants are in more demand today than ever. Much of my career has been spent in business partner/controller type roles where the principle goal is to help drive the business and help management make smart business decisions, and I agree that it is fairly uncommon for accountants to be good influencers, but complying with accounting regulations today is significantly more difficult than it was 25 years ago (rev rec, fair value, increased disclosures, IFRS, etc). I find I can go into most organizations and reduce finance headcount easier than I can reduce good accountants. Obviously automation will reduce transactional accountants, but I don't think most college students today get accounting degrees to do AP or AR. Those bookkeeping type of jobs are going away. I also don't think most people in the C-suite refer to accountants as bean counters as they realize the importance of their perspective and the extremely technical nature of the content they provide (i.e., any CEO who signs a 404 knows his "bean counter" can put him in jail if he's not good).

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

Thank you very much for your comments!

If you're saying that an accountants main job is to help drive the business then I don't disagree, however, that is definitely not the classical view of an accountant. I agree that accounting hasn't become less complex over the years, however, dealing with the complexity of rules and regulations is not value adding to a company hence this is very much a target for outsourcing / offshoring.

My impression is that accountants are taught the technical skills of accounting including how to deal with changing rules and regulations as well as taxes etc. At best they are taught about management accounting so they learn how to do some analysis. I see few courses related to communication and presentations. Moreover, the bachelor education in accounting at colleges also include other courses which are not even related to actual accounting / finance.

If you have never been called a beancounter you should consider yourself lucky. Whether or not they can put the CEO to jail for malcompliance is quite irrelevant here as this is not the value adding part of finance and accounting.

The accountants are not extinct (yet), but they need to really think hard about what their role is in the future of finance.

Anonymous
(Independent Consultant) |

Different perspectives are what makes life interesting. I think my perspective might be more US-centric and with silicon-valley high-tech, life sciences, and IPO firms; much of the "accounting" has been moved to shared service centers located in low-cost regions (or in the cloud), but FP&A and business unit controllers are very much close to the CEO and CFO's office. In terms of value creation, I would argue that not destroying value through malcompliance is just as important as creating it in the first place. I've often lectured at universities to engineering students telling them to make friends with the accountants because if they get the numbers wrong and the company does a re-statement, study after study show that it takes years for the stock price to recover. What a dedicated engineer and sales force can create in terms of new business and products in a few years, a bad accountant can erase in a quarter.

Data and information (especially with big data) is becoming a commodity. What used to take weeks to do in terms of analysis (turning data into information) now takes minutes. But the world will still need people to get the accounting right (as there are fewer bright-line tests and more subjectivity in preparing statements). Saying accountants will be extinct is like saying lawyers won't be needed in the future too. I think we are saying the same thing; the debits and credit transactions are being or have been automated, but having someone to vet the answer in the first place is the real skill.

Several years ago Bill Gates was asked what functions he would like to outsource at Microsoft. He said all of them except for his legal team and accountants as the risk is just too high and the pain too heavy when things go wrong.

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

Thank you again for your comments.

To me, accountants don't work in FP&A or controlling. If they do that means they have moved on to become financial analysts, business controllers or financial controllers. Many accountants could develop their careers in that way, but then they are not accountants by trade anymore (although they may still be by nature).

If we look at the risks there are some countries where you definitely want to think long and hard about outsourcing / offshoring the whole thing. In my company, we keep our hands off countries like Russia or Brazil but in most European countries we will be mitigating the mentioned risks through a compliance officer while all AtR is done in the service center. Said compliance office could certainly be a former accountant.

I cannot make any statements as to legal services but for accounting things are changing and there will certainly be less pure accountants in the future.

Anonymous
(Tax/Business Consultant) |

Having worked in public accountant, esp. taxation, I somewhat disagree with your assessment as you've already shown a Bias against accountants as you've admitted that you really don't know much, if anything, about accounting.

ALL finance people should take courses in accounting to realize the importance of the accounting professional.

Having said that...
The accounting professional has greatly changed since I've started years ago.
Most of the work is computerized and may be outsourced.
Is it a "value added" area? For some, yes, but for some like you, definitely NO!
Slamming another profession, which you politely did, isn't professional or kindhearted.

Even with automation, people like yourself are basically Narrow minded. Guess you've never heard of "Garbage in, garbage out!"
Automation can NEVER take place of "sound judgment" from people!

BTW... What type of professionals helped cause the financial crisis esp. in the Wall St. area? Hmmmm... bankers/finance people, not just CPAs, but the majority had backgrounds in finance!!

It's people like you who force the finance AND accounting worlds to create MORE rules and regulations which basically drives up the compliance costs. That will Never change due to people's arrogance and greed and ignorance.

Someone has to "account" for the compliance issues which people like yourself help create.
Someone has to do the grunt work in managing the information since it's people like yourself who literally "demand" to know how the company is doing financially.

It's like a spouse that supports the other spouse... working in the background and works diligently in blood and in sweat and taking all the BS while the other spouse NEVER APPRECIATES the work done!

Careful, but your EGO, ignorance and arrogance are showing!

Too many times have I experienced and seen where financial managers SCREW UP only to have the accountants do some fancy financial work to Fix your problems and you DON'T appreciate it consider it's people like YOU who CAUSED the problems in the first place!

Anonymous
(Independent Consultant) |

I concur 100%. In my previous posts to this gentleman, I was trying to avoid the bias that he has on the subject, but I like your more direct approach. I consider myself both an accountant and a finance person (CPA and MBA), and have been so for nearly 30 years and never been unemployed a day in my life and don't expect I ever will despite what the poster says. Thanks for taking this stand - I don't think this site should be a forum to disparage professions.

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

Further, I should add to anonymous consultant that I am not trying to disparage any profession, but trying to discuss trends in Finance. If you don't believe this is a real trend then I am worried on your behalf. While it might not affect you personally I do think that this will affect many accountants all over the world. Therefore, it is of course, a very necessary discussion to have what is the future of the accounting profession.

Topic Expert
Barrett Peterson
Title: Senior Manager, Actg Stnds & Analysis
Company: TTX
(Senior Manager, Actg Stnds & Analysis, TTX) |

The requirements for lower level transaction processing will be flat or likely decline. Accountants have always developed skills in knowing the business and supplying analyses, for which their training and skills are well suited. Accountants need to move toward the "data scientist" end of the spectrum, but should experience significant demand.

Anonymous
(Senior Manager - Strategic Analysis) |

This is an interesting conversation. I would agree that the demand for what people think accountants do, is diminishing. However, I would add that what accountants actually do, and what people think they do, are dramatically different. This has lead to a change in title and responsibilities, where your more gifted accountants are now called "Controllers", or "Sr. Analysts", etc. The type of work that the general public (and even some operational leaders) think of when they think "accountant" is really more like what accountants do the first few years out of school, if that long.

The demand for people skilled and knowledgeable in accounting is certainly not diminishing. The market demands more than just "transactional" accounting from accountants, but really, to the best of my knowledge, it always has (perhaps I am wrong). Clerical accounting (AR/AP/GL etc.) is seldom done by an accomplished accountant today. There are services and low-cost countries to outsource a lot of that work to.

I haven't touched a general ledger in the better part of a decade, but when my wife or friends ask what I do, I give them my title, they look at me dumb founded, and I say "it's like accounting". It is just a term people associate with any financial responsibilities they don't understand. It's easier than explaining financial analytics, corporate reporting consolidation, financial viability consultation, etc. So I guess, to some extent, I am part of the problem. Educating others that don't understand the accounting and financial professions has never been a task I was interested in bearing. To some extent, I think the confusion is part of why we get to charge so much for our services.

Anonymous
(Independent Consultant) |

Mr. Liu-Lindberg,

I have been nothing but respectful; I just disagree with you. Please do not be condescending by being worried for me; I can assure you I am, and will be fine. As I mentioned earlier, I think our different opinions might be based on where we are doing business and the lines of business that we are in. I have a silicon valley high-tech perspective. Yours is apparently different.

I would just hope that you would remember that referring to people as "a threatened species" is offensive and rude (as you so prominently did in your title). I'm surprised this was even allowed as a title. To refer to a profession as a species shows a complete disregard for how this could be extremely culturally insensitive.

If you feel better about calling yourself a finance person and not an accountant, so be it. If you are only a finance person, then that is fine too. I happen to be both, but I can tell you that I always get the job when I am competing for a client or position with someone who doesn't have an accounting background. Always.

For many positions at companies I have worked for, the board required certain functions to only be staffed by license holders and I can assure you these were not low level positions. This opens up a broader job market for me than say, someone like you.

As to striking a nerve, I'm just wired to state my opinion. At the end of the day, I will be fine and I sincerely hope that you will be too. I am not however, worried for you.

Cheers.

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

Alright I will give you this:

1. I used a click bait headline
2. Referring to a profession as species is perhaps too antagonizing

My apologies...

Let's continue to discuss the substance of the topic. I am curious to know exactly what work you are hired to do for companies and compare with the classic definitions of an accountant?

Anonymous
(Financial Controller) |

Mr. Liu - Linberg, totally agree with you, encouraging my daughters to be Tax Lawyers!
The issue with accounting is that in most industries you are seen as an overhead/ non billable resource, so there are constant efforts to curtail accounting department expenditures.
The other issue is that in order to secure higher salaries accountants specialize in MD&A, Budgeting, etc. A former colleague was recently laid off as Controller doing MD&A & preparing for quarterly audits because when the company in a pinch and looking to survive the current down turn, not raise capital, - all that high end MD&A expertise is not needed.

As salaries tend to be one of, if not the, biggest expense items in North American companies, automating / outsourcing will continue to be a trend. In fact I am moving that way in my own company, I am evolving all accounting systems in my "Medium size" company to cloud based & APP orientated transaction capturing so that I can outsource basic data capturing and other basic accounting functions for 30% of the cost and overnight efficiency.

In concluding,I agree & sympathize with your consult protagonist, I do not think accounting is a dying species, however to survive you can no longer lean on your CPA/CMA or your gained knowledge, you have to constantly apply Financial Experience & expertise to problem solve, improve cash flow, dare I say, support sales, cut costs to validate you role in an evolving world

Anonymous
(CFO) |

"However, in today’s business environment and with the current trends in Finance as described in the article “Introducing The Finance Transformation Nine Box” the need for true accountants has become less and less. "

You are referencing your OWN article to support your thesis? Hello! Hello! Hello! (yup...that's an echo chamber)

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

Unfortunately I don't have the resources to go out and do lengthy surveys to confirm the trends, however, I am of course free to write about the observations I make when I talk to other finance professionals and speak at conferences. Here the trend is clear that classic transactional accounting is on the decline. It might be that in certain countries due to regulations etc. that there is still a need for true accountants, however, even in those environments it would be wise to start career planning for being able to do more than only classic accounting.

Anonymous
(Independent Consultant) |

Mr Liu-Lindberg,

I have worked in many different roles over my career – I’m not sure of the value of labeling them, but I will provide a short list for discussion purposes: cost accounting, technical accounting, policy manger, external reporting, internal business controls assessment (SOX), sales controller, operations controller, FP&A, M&A, integration manager, revenue recognition, interim controller, consultant, lecturer.

Most of the organizations that I have worked at in the last 10+ years have a relatively flat organizational structure (4-5 levels from analyst to CFO) and so I find that most people in the “Finance/Accounting” department have to be both good accountants and good finance people. This obviously changes over a career and expectations are different for a new college grad – who might be providing more accounting activities (“record and report”), but I agree that all finance and accounting professionals need to continue to upgrade their skills to continue to add value (and eliminate muda – I also worked in CI for a few years).

http://money.usnews.com/careers/best-jobs/rankings/the-100-best-jobs?page=2

For purposes of discussing the actual trend, I did a google search and found the above 2015 US News & World Report on best careers in the US. Accountant and accountant/bookkeeper ranked #16 and #40 respectively on the list of Top 100 jobs and the report indicated that according to the Bureau of Labor Statistics, new incremental jobs in these fields will increase by 205,000 and 166,000 by the year 2022 (that’s new people that need to go into this profession above and beyond those already in it). Increases were also seen in finance manager and analyst positions – just not as large an increase in the demand (the jobs ranked #65 and #69 on their list with incremental demand of 40,000 and 47,000 jobs over the same term). The finance positions pay better – reflecting the fact that many in this role are former accountants – but there still is roughly 4 times the increase forecast in accounting jobs relative to finance jobs.

Although I don’t have any statistics for other regions (eg., Europe or Asia), I would suspect that this is not an isolated trend just in the largest economy of the world. One could make an argument that other regions would see an even higher demand because they might be behind the US in terms of automation and might actually need incrementally more accounts.

I don’t like to get hung up on labels – finance versus accounting. I think the bard said it best when he said that “A rose by any other name would smell as sweet.” I don’t think accountants will be extinct any time soon though (I think the dinosaurs would have loved this definition of extinction). I think it is advisable for everyone to show the company they work for the value that they add, or they run the risk of their company showing them the location of the door.

Cheers!

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

Thank you very much for this further elaboration. I would say that some of the jobs you mention would definitely be in scope for automation or offshoring / outsourcing, however it's of course also important to mention that if you are looking at outsourcing this could very well be within in US hence professional service firms, BIG4s or consultants like yourself might find that there is still a lot of work. The corporate accountant on the other hand I see struggle wherever I go in terms of having a job in the future.

I don't think US is ahead of let's say Europe in this perspective but if there is same growth projection for accountants in Europe or not I don't have statistics for. I would, however, like to know more about what BLS is basing their prediction on.

Other jobs you mention are definitely not accounting jobs. They might be occupied by accountants who have developed in their career, however, FP&A or M&A are certainly something different and I wouldn't dare to say they face extinction any time soon.

Anonymous
(Independent Consultant) |

I also came across this interesting article: they indicate Accountancy and professional services as a growth sector for the EU.

Just wondering how you reconcile this with your thesis and if you think both of these organizations have it wrong? Interested to hear your comments.

http://careerweb.leeds.ac.uk/info/56/job_market_trends/235/the_european_and_global_job_market

The future of the job market in Europe
In 2012 the European Centre for the Development of Vocational Training commissioned a report looking at the shape of the job market in Europe up to 2020. It is expected that there will be a return to job growth across Europe over the coming years due to improvement in the economic outlook and the need to replace an aging workforce.

The highest growth will be seen where high level skills and qualifications are required such as professional, technical and managerial occupations. This means that the graduate market in Europe should be quite buoyant. However, the highest number of jobs will still exist in the lower skilled sectors but this trend is likely to reverse by 2025.

There is confidence that the following industry sectors will experience the highest growth:
Manufacturing and Mechanical Engineering
Water, Utilities and renewable energy supply
Retail
I.T and Communications
Banking and Finance
Accountancy and Professional services
Business consultancy/services

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

This can basically only be driven by increased regulation or perhaps a very elastic definition of accountancy as it's not the trend I am seeing. To be fair we have not gotten rid of our accountants in my company, but have simply moved them to global shared service centres.

Randy Moore
Title: CFO
Company: SJB Bagel Makers
(CFO, SJB Bagel Makers) |

It is probably true that much of the grunt work (AP,AR) has been or can be automated. However that does not eliminate the need for accountants, accounting clerks maybe, but not accountants.

Question - if accounting is outsourced, who is it more likely outsourced to? Accountants would be my guess but maybe you think chiropractors or chimpanzees could do it.

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

Yes, one accountant in a low-cost country replaces one accountant in a high-cost country. Later on the low-cost accountants are replaced by technology.

Anonymous
(Independent Consultant) |

Mr. Liu-Lindberg,

At least your consistent; even when faced with facts, it doesn't slow you down in terms of sticking to your claims. Good luck with that as you develop your career - as it seems you are fairly junior in your experience and the number of companies you have worked at. As someone who has been doing this for approximately 3x as long as you, I can tell you that every time some new technology has come that is supposed to eliminate accountants, the need for accountants has only increased. But I do appreciate your determination in being such a contrarian with the vast amount of experience that you obviously have (I have some mechanical pencils that are 30 years old).

As someone at the end of his career at 53 - and looking forward to a long retirement in California- I can tell you that if you want to be a CFO you will need to develop some humility and learn to listen to people who might know more than you. You can't be a CFO if you don't understand and value all parts of your organization. Remember when, and if, you become a CFO that social media posts never die and some accountant in your organization is going to dig up these posts and wonder why you have so much disdain for their work. Good luck being perceived as a leader in that situation.

In terms of suggesting that certain functions that I have done or do can be "automated" - I'm not sure what you mean to imply by this. In every job I do or have done, I utilize automation to perform my duties - it's been a long time since any accountant has used a 16 columnar sheet with an eraser.

I concur with Mr. Moore's assessment that outsourced accounting work goes to accountants, and if you think accounting is so easy, then I suggest you try to pass an exam and get a license. It can only help in the development of your career. I will look for updates from you on how that is coming along, but I'm not going to hold my breath. You might want to also work in Corporate Accounting and close the books and do external reporting. It is great experience and many people just wait for the numbers rather than develop them. Your bias against compliance costs is absurd. I also hope that you get to work for a company that has a financial scandal or restatement as then perhaps you will value this aspect of business. In some regards, the only thing a company has is it's good name when it comes to financial reporting - without trust, all markets do not work and if the street can't rely on your numbers, then, well... good luck with that too.

At this point, Shakespeare and I share the same sentiment about suffering, so I shall bid you farewell. It has been a unique pleasure to say the least.

Anders Liu-Lindberg
Title: Regional Finance Business Partner
Company: Maersk Line Northern Europe
LinkedIn Profile
(Regional Finance Business Partner, Maersk Line Northern Europe) |

Alright I get it that my post hit a nerve and without any hardcore facts it's difficult to maintain a viewpoint.

Part of my writing is throwing ideas out in the open and get a discussion going. From that discussion I learn even more about the trends of let's say finance and accounting. I had a clear impression that accounting and accountants were facing some serious challenges yet governmental agencies strongly believe that this a hot growth area.

I think that's interesting and will use that to start a different discussion around what's fueling this growth.

I want to thank everyone contributing to this discussion as it has certainly been very valuable to me.

Lastly I want to repeat the first lines of my post. I have nothing against accounting and this is by no means a personal vendetta. I have done accounting. I have done external reporting. Have I worked with all aspects of accounting? No I have not and I never will, but I have a great interest in transformation of the finance function and thereby I will continue to follow what will happen to the accounting profession.

Anonymous
(Independent Consultant) |

I think my recommendation would be to leave your safety net. In looking at your profile, I noticed that you've only worked at one company - a very large one at that. You have worked in different lines of business for the company, but still only one company. Spread your wings, come to California, work for a start-up, make your millions (billions?) and you won't worry about getting to a certain level within any organization. You can be a consultant and work when you want and all you'll have to worry about is what the weather is like at the beach (looking out my front window right now and it is perfect). Based on the 10 year stock return of your company, it's basically flat from 2005 to 2015 - you might want to take a chance on a growth industry.

Google wasn't around when I got into finance (so I couldn't google it then), but when Lotus 123 was introduced, everyone was saying that accountants were doomed because spreadsheets would eliminate the need. I've seen the promise time and time again. If robots do the work, someone has to build the robot.

Gave it my best shot at discussion, but just found your tone so condescending. I promise I will not reply to any of your future blogs because I've definitely hit my limit.

Thanks.

James Scott
Title: Consulting CFO
Company: Early Growth Financial Services
LinkedIn Profile
(Consulting CFO, Early Growth Financial Services) |

Great discussion. The accounting profession has greatly changed during my career (35+years) and it will continue to change.There are far fewer people needed for transactional accounting and reconciliation. A staff of 2 can now do more than a staff of 10 could do back then. Knowledge, and the ability to understand the business is much more important today. So is how to collect, organize, manipulate and present both financial and non financial information. Big data, real time information, predictive analysis are all more important. Historical PL reporting and GAAP much less so. (Note how many companies now reporting non GAAP along side GAAP for investors). You still need to understand the basics, so accounting theory will always be important. But the days of being a bean counter are over.
The profession itself is not doing anyone any favors by supporting esoteric and confusing tax, GAAP/IFRS, archaic state certifications, compliance standards positions. While the accounting profession may not be a threatened species, it is only because it has already morphed through natural selection. The species that it was, booking and reconciling historic transactions and providing minimal subjective input, is becoming much less relevant. Good points here on all sides.But bottom line, I wouldn't and haven't recommended accounting to either of my children as a career choice.

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

I will contribute 2 thoughts to this discussion....

(1) It is NOT a zero sum game, This is true for the nature of work within the company, the nature of work between professions, and the nature of work within the profession.

(2) Professions naturally evolve and the nature of work shifts as technology advances.

As Mark Twain said...."Word of my death have been greatly exaggerated"

jason gentile
Title: Peer Tutor
Company: Anne Arundel Community College
LinkedIn Profile
(Peer Tutor, Anne Arundel Community College) |

Change will happen.

Sue Ashe
Title: President and CEO MobileAccountantAZ
Company: MobileAccountantAZ
LinkedIn Profile
(President and CEO MobileAccountantAZ, MobileAccountantAZ) |

What kind of "change" Jason? If you are talking about no more need for accountants then that change will never happen sorry. The fact that automation is now available in no way indicates that the automated transactions will be correctly done. Quite the opposite from my experience. I see time and time again when new clients call me saying their books are a mess that they have tried to do their own financials because of the myth of "DIY" accounting often advertised these days. Sorry but no amount of automation can replace a 4 year degree and years of experience.

Topics:
Products and Companies: