The Future of Accounting

The Future of Accounting: Emerging Trends and Skills

The field of accounting is undergoing significant transformations due to advancements in technology, changes in regulatory environments, and evolving business landscapes. Here are some emerging trends and skills shaping the future of accounting:

Emerging Trends:

1. Technology Integration:

  • Automation and AI: The use of automation, artificial intelligence, and machine learning is becoming prevalent in routine accounting tasks, allowing accountants to focus on higher-value activities such as analysis and strategy.
  • Cloud Computing: The adoption of cloud-based accounting software is on the rise, enabling real-time collaboration, data accessibility, and cost-effective solutions for businesses of all sizes.
  • Blockchain Technology: Blockchain is revolutionizing the way transactions are recorded and verified. It enhances transparency, security, and efficiency in financial processes, reducing the need for traditional ledgers.
  • Data Analytics: Accountants are increasingly using data analytics to extract meaningful insights from large datasets. Analytical skills are becoming crucial for interpreting financial data and informing business decisions.
  • Cybersecurity: With the increasing reliance on digital platforms, the protection of financial data from cyber threats is a growing concern. Accountants need to be well-versed in cybersecurity measures to safeguard sensitive information.

2. Sustainability Reporting:

There is a growing emphasis on sustainability and environmental, social, and governance (ESG) reporting. Accountants are expected to integrate non-financial metrics into their reporting practices.

3. Remote Work and Flexibility:

The rise of remote work, accelerated by global events, is influencing the way accounting professionals collaborate and conduct their work. Virtual teams and flexible work arrangements are becoming more common.

4. Regulatory Changes:

The accounting profession is subject to evolving regulations and compliance standards. Accountants need to stay updated on changes in accounting standards, tax laws, and financial reporting requirements.

5. Client Advisory Services:

Accountants are increasingly taking on advisory roles, providing strategic guidance to clients based on financial analysis and insights. This shift from a compliance-focused role to advisory services adds value to clients.

6. Globalization and International Standards:

As businesses operate on a global scale, accountants need to be familiar with international accounting standards and regulations to ensure accurate financial reporting and compliance.

Emerging Skills:

1. Digital Literacy:

Accountants must be digitally literate, with proficiency in using accounting software, data analytics tools, and other technology platforms.

2. Analytical Skills:

The ability to analyse large datasets and extract meaningful insights is becoming increasingly important for accountants to support decision-making.

3. Cybersecurity Awareness:

A solid understanding of cybersecurity principles is essential to protect financial data and ensure the integrity of accounting systems.

4. Communication Skills:

As accountants take on advisory roles, effective communication skills are crucial for conveying financial information and insights to non-financial stakeholders.

5. Adaptability and Continuous Learning:

The accounting profession is evolving rapidly, and professionals need to be adaptable and committed to continuous learning to stay abreast of emerging trends and technologies.

6. Critical Thinking:

The ability to think critically and solve complex problems is valuable for accountants facing new challenges and uncertainties.

7. Ethical Judgment:

With increased reliance on technology and data, ethical judgment is essential to ensure the integrity and confidentiality of financial information.

8. Interpersonal Skills:

Collaborative and interpersonal skills are important for accountants working in cross-functional teams, especially in a remote or virtual work environment.

9. Strategic Vision:

Accountants are expected to contribute strategically to the organization’s goals. A strategic vision helps in providing valuable insights and guidance for decision-makers.

10. Sustainability Expertise:

Understanding sustainability practices and incorporating ESG factors into financial reporting requires expertise in sustainable business practices.

To sum up, as the accounting landscape evolves, accounting professionals need to embrace these trends and continually update their skills to stay relevant in a dynamic and technology-driven environment.

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Skills Required to Join Accounting Firm

Basic Skills Needed to Join an Accounting Firm | Uplift Professionals

By now, we entered the hall of the post-pandemic era, we have learned that to survive and excel in the accounting job market, we need special knowledge and upgraded skill sets with a positive attitude to learning as a continuous process. It is not about just handling the money matters, rather to make yourself future proof against the robotic uprising in the accounting arena of corporate sectors.

Hence, the challenge lies in the transformation from everyday accountant to exceptional accountant as per the demand of the industry. According to Helen Brand, chief executive of the Association of Chartered Certified Accountants (ACCA), “To succeed as a professional accountant…a vastly different set of skills is required than was necessary just 10 short years ago.

And in the next decade, things are likely to change even faster and more dramatically as the global economy continues to evolve at an ever-quickening pace.” Let’s look into the need and required skill sets for new age accountants.

The Entry Level Accounting Jobs

1. Junior accounting associate

2. Staff accountant

3. Tax accountant

4. Audit associate

5. Accounts receivable/accounts payable clerk

Skills Required to be a Successful Accountant

The technological advancement like in other fields have also penetrated the accounting domain and have changed the scenario a lot which have not been foreseen in the past. Taking the above cues, the present-day accountants need to show their proficiency in the following areas.

1. Communication

No doubt at any stage of career including accounting job, this is the basic skill required to bring clarity in explaining different financial situations to co workers and clients with superior clarity.

2. Evaluative Thinking

This is the skill needed to be seen in a successful accountant, the ability to think critically that help in a quick decision-making process in a highly effective manner.

3. Creative Problem-Solving ability

Today’s firms need accountants who can think of a problem outside the box and solve it with outstanding creativity. This is a continuously evolving process, where the accountant has to be embedded to impress the employer as well as to bring more smoothness in the career path.

4. Project Management

Gone are the days when an accounting job was a solo performance by performing the routine assigned jobs. The present-day mantra is team work. Hence, firms are more interested in hiring accountants who have exposure to project management. Nothing to be worried about. If you don’t have the experience, you can grab it from various learning tools/short term courses on the same at your fingertips.

5. Microsoft Excel

One has to have proficiency in using this particular tool in accounting jobs. If you are not comfortable with pivot tables, VLOOKUPs etc. you have to learn it.

6. Data analysis

Today’s accounting needs handling of large accumulation of data with effective analysis and filtering to make it sensible. Accordingly, the present-day employers need their accountants to provide recommendations supported by analyzed final data itself.

7. Cloud-based Accounting Software

In the metamorphosis of everyday accountant to exceptional accountant, you have to be tech savvy as per the need of the hour. In order to cope with such need for real-time financial reporting, many accounting firms have changed over from conventional to the implementation of cloud-based accounting software. This indicates that as a current day accountant, you need to be comfortable working with programs like QuickBooks, Xero, and FreshBooks etc.

The Way to Learn Accounting Skills on Demand

The on job learning process is the best way in this journey and also a time-tested process. However, for a fresher this is not applicable before joining. So, what to do? An internship or entry level job can provide the learning opportunity. Another good alternative is to obtain a good professional accounting credential like US CMA/CPA/EA etc. before or after entering the accounting job arena. Along with the skill development, build your resume accordingly to get the interview call to finally land up into your desired career path.

A Meaningful Resume

1. Show the Pinnacle of your accounting experience

In this part of your resume, incorporate all relevant accounting experiences including internships. You can link your skills to specific duties you performed or use them to explain how you met certain key performance indicators (KPIs) including your familiarity with accounting software if any.

2. Calibrate your Achievements

Use numbers whenever possible to show your success like you can mention the number of team members you have worked with and your achievements or if you have led a team of interns, mention their number and the success achieved with you.

3. The Key Words

This is a very important part of the resume on which we generally don’t pay much attention. Please keep in mind that today’s employers rely on applicant tracking systems (ATS) to help them filter candidates. To be successfully selected by the ATS, it is suggestive of the use of appropriate relevant keywords throughout the resume in an optimized manner.


It appears obvious that to meet the demand of the present-day accounting firms, the present-day accountants have to be more tech competent with some special skill sets as mentioned above. One of the finest ways to meet the demand is to go for some professional accounting courses like US CMA /CPA/EA etc. which can be pursued along with the conventional academic curriculum or as early as possible after entering the job to extract maximum benefit.

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Effective Study Tips for Professional Accounting Courses | Uplift Professionals

Accounting course
People who are good at what they do always make it look easier than it really is. The same goes for top accounting and taxation students. While there are several rules for studying accounting effectively, learning accounting starts with desire and hard work. If your heart isn’t in it, studying accounting can be pure tedium. Once your heart is in it, and you’re ready to give it your all, it’s time to learn how to maximize your study time and learn how to learn accounting more efficiently. However, those who perform best in their studies do not sit on their hands and wait for the ‘A’ s to roll in. Instead, they put in the work and follow some of these study habits to reach the top of their class:

Studying accounting from a textbook

Similar to math, accounting concepts build upon one another. What you learn in chapter 2 builds on what you learned in chapter 1. What you learn in chapter 3 builds on what you learned in chapters 2 and 1. If you didn’t really grasp the concepts taught in chapter 1, you’re going to have a difficult time learning the concepts in chapter 2 – and you’ll most likely be lost by chapter 3. It’s imperative that you thoroughly understand the concepts being taught in each chapter before moving on to the next chapter.

Make sure you can solve every type of problem illustrated in your textbook

A top student doesn’t ‘spot’ for exams (only learning the things they think will be asked). Instead, they make sure they can solve every type of problem they can possibly encounter. Not knowing how to approach and solve a certain problem can have the following detrimental effects during an exam: Struggling with questions you are unsure of can cause you to run out of time during the exam. Encountering a question you don’t know how to answer can make you panic and ‘blank out’ during the exam.

Test yourself after each lesson

A top student knows that the best way to truly internalize course content is to test yourself after each lesson. It’s not enough to just ‘go over’ your notes again. You have to make sure you have comprehended the lesson, and that you are able to do the work on your own (without consulting your notes) afterwards.

Work hard from Day One

A top student knows that they can’t succeed if they only start working hard when a deadline is approaching, or when the exams are nearing. Working hard from the start doesn’t only apply to your academic year, however, but to each day of your course as well. A top student starts working as early in the day as possible, and not only at 22:00 at night.

Rely on discipline, not just motivation

A top student knows that they won’t always feel like studying. Motivation is fickle and can often disappear when your mood changes. Discipline, on the other hand, means studying even when you don’t feel like it – even when you don’t feel motivated. You have to force yourself to do the work you need to do, no matter how you feel. And you have to stick to your schedule, despite everything else going on around you.

Participate in class or online

Students who participate in class are more involved in the work, more present during lectures, and more likely to develop a sound understanding of the work. It is no coincidence that you’ll often find that the students failing a course are sitting in the back of the classroom. You have to ask questions and volunteer answers. Don’t be afraid to speak up.

Try to understand patterns

The human mind loves categorizing information and looking for relationships between the different things we encounter. This is how our minds make sense of the world around us. Top students use this way of thinking when it comes to studying as well. They look at the bigger picture and they look for patterns in the work that will help them make sense of different—yet usually interrelated—topics. Understanding the bigger picture, and how different topics relate to one another, will help you comprehend, memorize, and recall your work better.

Compete with yourself

Every student wants to do well. But those with clear goals are the ones who manage to push themselves a bit further each time. For each semester and each exam, you have to create a realistic goal for yourself regarding the mark you want to achieve. And each goal should be just a little higher than the previous one.

Accounting Study Skills Guide

How To Study Accounting

While there are several rules for studying accounting effectively, learning accounting starts with desire and hard work. If your heart isn’t in it, studying accounting can be pure tedium. Once your heart is in it, and you’re ready to give it your all, it’s time to learn how to maximize your study time and learn how to learn accounting more efficiently.

Preparing for Professional Accounting Exams like the CMA, CPA, CIA in tough times : If you have been preparing for a professional accounting exam like the CPA examination or the CMA US examination at this time, you need to introduce some changes in your lifestyle and thought process so that you can focus properly. Read more…


Textbooks are a great resource for studying accounting. The following are rules and suggestions for using your textbook effectively to learn accounting.

Studying accounting from a textbook is different from studying other subjects such as history, economics or biology. When reading a history textbook you can get by if you’re able to understand 90 percent of the information or if you come away with a general idea of what’s going on. Not the case with accounting. Read your textbook for understanding. And if you don’t understand it, read it again. If you understand a concept being introduced, then it’s okay to skim the text or skip ahead. But make sure you understand the concept(s).

Similar to math, accounting concepts build upon one another. What you learn in chapter 2 builds on what you learned in chapter 1. What you learn in chapter 3 builds on what you learned in chapters 2 and 1. If you didn’t really grasp the concepts taught in chapter 1, you’re going to have a difficult time learning the concepts in chapter 2 – and you’ll most likely be lost by chapter 3. It’s imperative that you thoroughly understand the concepts being taught in each chapter before moving on to the next chapter. Scanning text for main points doesn’t work in accounting. Accounting textbooks are meant to be read. Almost everything that is included in your accounting book is important. So when you read… read everything.

Read your accounting textbook to understand “WHY.”

Accounting doesn’t require you to memorize as much information as other subjects do. It does however require you to understand “WHY.” Accounting is all about “WHY.” As you read your textbook discover the “WHY” in what you’re reading. Try to understand the logic behind what is being taught. When you finish studying a new topic from your textbook, try to put it in your own words. Explain the new concept to yourself or someone else. Putting concepts in your own words and explaining them aloud is far more effective than reading a text over and over again.

Discover the “HOW.”

Once you understand the “why”, it’s important to discover the “how”. It’s not enough to understand why an accounting principle or concept works, if you can’t apply it. You must understand how accounting concepts work and be able to apply them. In order to discover how accounting principles work and how they are applied, work the problems included in your accounting textbook. Most chapter problems are designed specifically to help you discover how to apply the principles or concepts being taught in that section. Work each problem before checking your answer.

Review as you go.

Any subject is easier to understand and remember if you thoroughly learn it the first time through. But if you’re unable to remember everything you’ve learned, you’ll just start reviewing a few days before finals, right? This may be an acceptable strategy if you’re studying history or sociology, but not when you’re studying accounting. The most effective way to learn accounting, and retain what you’ve learned, is to “REVIEW AS YOU GO”. If it’s a bad idea to cram for a history exam the night before a test, it’s a very bad idea to cram for an accounting test. Never postpone reviewing your accounting until examination time. As you review, visit previous chapters in your textbook and rework problems you struggled with. Find other accounting problems similar to those that were difficult for you and work those problems too.

At the end of each week take some time to review your notes to refresh your memory and  to make sure you understand everything you studied during the week. Remember, information that is forgotten must be relearned. The time required to relearn information is often the same as learning it for the first time. It’s far more efficient to review as you go than to attempt to relearn forgotten information at the end of the term or semester.

Ask questions and get answers to your questions throughout the semester. Your professor, or teacher’s aide, isn’t going to be anxious to sit down with you for several hours at the end or the term to answer all your questions and re-teach you concepts you should have learned along the way. AND when your professor asks you what you don’t understand, don’t say “everything.” Statements like this suggest you’ve made very little effort on your own to try and understand. Before asking questions, pinpoint exactly what you don’t understand. Make sure your questions are specific.


If you want to learn accounting, then work all the homework problems given to you. There is no better way to learn how to do accounting than practicing accounting problems. Mastering accounting is as easy as mastering the homework problems in your textbook, in study guides and those given to you in class. If you will work on your homework problems, you will learn accounting.

  1. Read the problem and make sure you understand what is being asked. Then scan the problem.
  2. Work each problem in its entirety without referring to reference materials. If you get stumped, refer to the textbook or your notes, but not until after you’ve made your best effort to work the problem on your own. If you can’t work problems without referring to your textbook or your notes, you aren’t remembering the material – and aren’t ready for your next test.
  3. It’s easier to keep up than play catch up.

Since accounting concepts build upon one another, it’s very important you keep up with the class. After each class, review your notes. If there are any accounting concepts that were introduced during class that you did not fully understand, do whatever is required to learn them before your next class.

  1. The only stupid question is the one you don’t ask.

If you are having difficulty understanding part of a problem, or don’t quite get a new accounting concept being introduced, don’t hesitate to raise your hand and ask for clarification during class.

Make Effective Use of Class Time

You may be able to breeze through your history course and get a B+ at the end of the semester without attending class regularly. The same can’t be said for skipping your accounting class. Class attendance and participation is key to doing well in accounting.

Always arrive in class PREPARED.

Show up for each class having completed all assignments and having reviewed your notes from the previous session. You’ll get the most out of each class session if you participate. Come to each class session prepared to ask questions, answer questions, and participate in classroom discussion.


Most exams offered at reputable accounting programs are designed to test your understanding of specific accounting principles and concepts. The following suggestions will help you prepare for such exams.

Focus your study in the most important areas.

Review and make sure you can work all homework problems that have been assigned to the term. Focus your review on topics the professor has emphasized in class.

Make sure you really know the material.

Be sure you can work all homework problems without help.

Teach the accounting concepts you’ve learned to someone else.

Form a study group, and test each other.

Do you know the “whys” and “how’s” for each accounting concept?

Focus on understanding — not memorization.

Your instructor wants to see that you truly understand the accounting principles and concepts that have been taught throughout the term of the course. Expect to see questions appear on the test that are presented in a slightly different way than you’ve previously seen. Make sure you understand how to apply what you’ve learned.

Read the entire problem.

Read what each question is really asking.

Allow enough time at the end of the exam to review for errors you’ve made.

Answer the easy questions first.

Go through the exam and answer all the questions you know. Then go back and tackle the more challenging questions. This will ensure that you get credit for all the questions you know and relieve a little pressure as you tackle more time-consuming questions.

Maintain a steady pace.

Most accounting tests have a time limit. Make sure you’re confident enough with your ability to work accounting problems in a timely fashion that you aren’t constantly checking the clock and stressing yourself out. While we would all like to finish the accounting exam having answered all of the questions correctly, it’s far better to complete 85 percent of the questions having answered them correctly than to complete 100 percent of the questions having answered a majority incorrectly.

Additional Tips-At a Glance

Create a schedule

One of the most important things you can do when studying for an accounting certification exam is to create a study schedule and stick to it. Having a set time each day that you dedicate to studying will help you stay on track and ensure you continue to make progress toward your goal. Don’t try to cram everything in at once. You’ll risk ending up feeling overwhelmed and frustrated. Instead, break up your study sessions into manageable chunks. Dedicate an hour or two each day to reviewing material, and you’ll be surprised how quickly the information starts to stick.

Make use of study aids

There are a lot of great study aids out there that can help you learn and retain information more effectively. From flashcards to apps to practice quizzes, there’s no shortage of resources available to help you prepare for your exam. Using them can make a big difference in how well you do come test day. Don’t be afraid to experiment with different study aids until you find the ones that work best for you.

Take Mock tests

Taking practice tests is one of the most effective ways to study. Why? Because it allows you to see what areas you need to focus on, and it also helps improve your test-taking skills. Not to mention, the more practice tests you take, the more confident you’ll feel on exam day. If you can, take at least one practice test per week leading up to your accounting certification exam.

Get plenty of sleep

This one might seem obvious, but it’s important, nonetheless. Getting enough sleep is crucial for both your physical and mental health. And when you’re studying for a big exam, it’s even more important. When you’re tired, your concentration and memory suffer. Try to get at least eight hours of sleep each night.

Eat healthy

Just like getting enough sleep, eating healthy is also important for both your physical and mental health. When you’re studying for a big exam, you might be tempted to grab whatever’s quick and easy for a meal. But that’s not going to do you any favors in the long run. Eating unhealthy food will make you feel sluggish and unfocused. Do your best to eat healthy meals and snacks while you’re studying. It can make a surprisingly noticeable difference.

Take breaks

It’s important to stay focused when you’re studying for your accounting certification exam. But that doesn’t mean you have to study non-stop. In fact, taking breaks can actually be helpful. Taking a few minutes here and there to clear your head will help you come back feeling refreshed and ready to focus. Just make sure you don’t take too many breaks, or you’ll never get any studying done.

Set Targets

One of the best ways to stay motivated while studying for your accounting certification exam is to set goals. Decide how much you want to study each day, and then make sure you stick to it. It’s also a good idea to set a goal for the date of your exam. Having a specific date to work toward will help keep you on a schedule.

Use a timer

One of the best ways to stay focused while studying is to use a timer. Set it for an hour (or however long you want to study), and then start working. Once the timer goes off, take a five-minute break. Then set the timer again and start working. This technique will help you stay focused and make the most of your study time.

Study Partner

If possible, form a study group with classmates. Study groups are very effective in learning difficult material. Going over each other’s notes and discussing concepts will further aid in the understanding of the material.

Preparing for and Taking Exams-The Final Approach

  1. Be sure that you can work problems representing all concepts covered without the aid of the book or solutions manual.
  2. Know the material.  You will not have unlimited time for the exam.  If you have to spend significant time trying to remember the “hows” and “whys” related to each exam question or problem, you will have difficulty completing the exam.
  3. Do not expect exam problems and questions to be a carbon copy of homework problems.  The material may be covered from a different angle to test your ability to reason and understand, rather than memorize.  When studying, consider how concepts covered in homework could be presented differently.  While working on homework problems ask yourself “what if” questions to challenge your understanding of the material.  For example, if the homework problem reflects a loss situation, ask yourself, “how would I treat this if it were a gain situation?”
  4. At the beginning of the exam, quickly scan the exam to determine what is on it.  Easy problems – do those first.  Problems that you think you may be able to do if you think about it – do those next.  Problems that you swear came from another course – leave them for last.  One of the worst things you can do is try to solve a problem that you do not understand first.  This may cause you to get bogged down and confused and may keep you from completing problems that you do understand.  For most students it is wise to work the problems first and then return to the multiple choice questions.  This allows you to get warmed up on the problems, preparing your brain for the often more challenging multiple-choice questions.
  5. Budget your time appropriately.  If a problem is worth only a few points, do not spend half an hour on it (regardless of how brilliant your answer, it will still only be worth those few points).
  6. Read the problem carefully. Often points are lost because the question asked was not fully answered.
  7. Show all of your work.  You cannot get partial credit without it.
  8. Tips for navigating multiple choice questions(the following tips are excerpted/adapted from “Gleim CPA Review, A System for Success”, 2007 Edition).
    a.  Attempt to ignore the answer choices – do not allow the answer choices to influence your reading of the question.  If four answers are presented, three of them are incorrect.  These incorrect answers are called distractors and they are called this for a good reason.  For computational items, the distractors are often the result of common mistakes so do not assume your answer is correct just because it is listed.
    b. Read the question carefully and in its entirety to determine the precise requirement.  DO NOT assume you know what is being asked based on prior experience in class or with the homework.  You may find it helpful to underline or circle important information as you read such as dates, time periods, etc.  This will also help you to ignore extraneous information.  Be especially careful when the requirement is an exception: e.g. “which of the following is not….”
    c. If possible, determine the correct answer before looking at the answer choices (see a. above)
    d. Read the answers choices carefully.  Even if the first answer appears to be correct, do not skip the remaining choices.  As you determine which part of an answer is incorrect, mark the answer in some way (I cross out the words/word that make an answer wrong).  This process of elimination is particularly helpful if you are not certain of the correct answer.

Basically, accounting is an information system. Accounting is the set of rules and methods by which financial data are collected, processed, and summarized into reports that can be used in making decisions. Accounting reports provide information for managerial planning, control, and decision making. These reports also provide information to outside investors, creditors, and regulators interested in the financial position of the company. An accounting professor will stress major theories and concepts, and one of the goals is that you, the student, will be able to read, understand, and interpret financial data.

Don’t think for a second that there is any real difference between you and a top-achieving student when it comes to what you are capable of. The only thing standing between you and much better marks is working harder, and working smarter. So, if you want to get to the top of your class, and pass your course with distinction, you just have to cultivate better study habits. Finally, don’t forget to reward yourself for all your hard work. You’re not a robot! Studying for your accounting certification exam is no easy feat, so you deserve a little something special when you reach milestones along the way. Whether it’s something small like taking a break for coffee or something bigger like going out for dinner, find ways to treat yourself that will help motivate you to keep going. You’ve got this!

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Cloud Computing in Accounting System | Uplift Professionals

Cloud computing

In cloud computing, all application functions are performed off-site, not on the user’s desktop. In cloud computing, users access software applications remotely through the Internet or other network via a cloud application service provider. Using cloud accounting software frees the business from having to install and maintain software on individual desktop computers.

Cloud accounting solutions also allow employees in other departments, remote or branch offices to access the same data and the same version of the software. Cloud accounting software is similar to traditional, on-premises, or self-install accounting software, only the accounting software is hosted on remote servers, similar to the SaaS (Software as a Service) business model. Data is sent into “the cloud,” where it is processed and returned to the user.

The accounting industry has welcomed technologies and innovations such as cloud computing that make the lives of accounting professionals easier. Unlike traditional accounting, which involves a lot of manual data entry, cloud-based accounting dramatically reduces the time accountants need to perform basic tasks. Besides shortening the accounting processes, cloud computing ensures improved accuracy and automates some of its functions for streamlined operations.

Cloud or Traditional Accounting Software?

There are several key distinctions between cloud accounting and traditional, on-site accounting. For one, cloud accounting is more flexible. Accounting data can be accessed from anywhere on any device with an Internet connection, rather than on a few select on-premises computers. Secondly, unlike traditional accounting software, cloud accounting software updates financial information automatically and provides financial reporting in real-time.

This means account balances are always accurate and fewer errors take place due to manual data entry. They are also better able to handle multi-currency and multi-company transactions more efficiently. In the on-premises world, every time a firm grows, they encounter greater software license and maintenance costs as well as new licenses and fees for database, systems management and other software. The firm might also have to make expensive capital purchases of new hardware, such as servers.

With cloud solutions, businesses don’t get stuck with permanent, expensive equipment and licenses when their business contracts are up and, likewise, there are no big spikes in costs when it expands a little. Also, cloud accounting requires far less maintenance than its traditional counterpart. The cloud provider completes the backups, updates occur automatically and nothing needs to be downloaded or installed on a company computer.

Cloud computing is revolutionizing the way accountants operate and manage financial data.

The Benefits of Cloud Computing for Accountants

  1. Improved data security

Customer data can easily be compromised when filing taxes or handling any other high-value company data. This is why accountants should be careful of the threats associated with the software, hardware, and communication channels. Cyber security for accountants is of great concern because they handle sensitive client and company data vulnerable to cyber attacks. With cloud computing, confidential information can be stored in the cloud where data security and privacy are assured, while scheduled upgrades can guarantee it. Storing financial data in the clouds also protects it from natural disasters because it’s automatically backed up for easy retrieval in case of a calamity. You can hide all accounting data from prying eyes by using security safeguards like firewall, data encryption, and multi-factor authentication.

Cloud security benefits for accounting firms include:

  • Industrial strength physical security to protect against fire or other disasters
  • Redundant backup systems to guard against data loss
  • Professionally designed disaster recovery processes
  • End-to-end encryption to protect data moving to and from the cloud
  • 24/7 monitoring for security threats
  1. Easy data access

With the desktop-based accounting system, accountants are tied to an office, as their data, software, and accounts are saved in a local drive. Cloud computing allows fast access to data from anywhere. When accounting data and other applications are stored in the cloud, accountants can access them provided they have internet-connected devices. Cloud-based accounting software allows 24/7 accessibility, making it easy for accountants to access records, reports, and receipts on the go. This makes it possible for accounting professionals to work remotely.

  1. Improves accuracy

Since cloud computing allows for the automation of most accounting functions, human error is reduced. Using journal templates, repetitive invoices, and auto reserved accrual journal ensures the accuracy and efficiency of financial records. Accountants also get comfort in that every transaction processed through a bank account is displayed and reconciled in the cloud accounting file, ensuring that they don’t miss any financial events.

  1. Enhances speed

The automation feature in the cloud computing system fastens routine tasks, giving accountants more time to concentrate on other functions, increasing productivity. Besides eliminating human error, automation of key processes prevents data duplication, saving time and effort. With cloud accounting, data is automatically saved and backed up as you go, so accounting professionals don’t have to waste time-saving data or doing data back-ups. Since software updates and back-ups are no longer necessary on a cloud platform, accountants are always logged into the latest software with all the updated features.

  1. Facilitates collaboration

Accessibility enhances collaboration. When working with desktops, you have limited access to your statements and records, making it challenging to collaborate with colleagues and advisers. Since several stakeholders such as team members, management, and advisors can access books online, the workload can be delegated. Since the accountants handle the most complex functions such as long-term forecasting, in-depth reporting, and planning, bookkeepers and small business owners can handle basic tasks like paying bills and bank reconciliations. Cloud computing software lessens accountants’ work, enabling them to offer more services to their clients.

  1. Reduces paperwork

In a traditional accounting system, accountants have to deal with paperwork and manual data entry, which leads to slow and ineffective processes. With cloud accounting, accountants can significantly reduce reliance on paperwork because they email invoices to clients, eliminating printing and postage costs, accelerating the payment process. Incoming receipts and bills can be scanned and saved with the associated transactions in the accounting software.  With your financial statements, reports, and other financial data stored in the cloud, accountants don’t need to keep original paperwork, saving storage and filing space costs.

  1. Improved customer relationships

Accountants need to maintain good relationships with their customers. Cloud computing allows them to collaborate with clients across any device virtually. Accountants working with vendors, distributors, and other colleagues, can easily find any bills, invoices or identify if a payment was missed. This helps accountants to ensure that all records are up-to-date, easing the tax filing process.

  1. Flexible and scalable operations

Cloud computing allows accountants to scale their resources up or down whenever necessary to ensure they only pay for what they need. With cloud computing, accountants can meet the requirements and demands of a growing business. This is because the scalability feature of cloud computing allows them to transition to a more comprehensive accounting solution as the business grows. It also allows you to integrate add-ons and software options to customize your accounting solution.

  1. Enhances centralization

With cloud computing, all financial data is stored in one database, allowing everyone access to similar information. Accountants working from different sections don’t have to waste time figuring out which spreadsheet is suitable. This ensures consistency across all financial processes and reports.

  1. Reducing Costs

The subscription-based pricing model of most cloud solutions is an attractive one for accounting firms. Choosing cloud lets you free yourself of the upfront hardware and software expenditures — and the unexpected costs when they fail — associated with on-premise data storage in favour of regular, predictable monthly payments. Another (often-overlooked) cost-related cloud computing benefit for accounting firms is the savings you’ll see when you no longer have to maintain an environmentally-controlled facility for the servers holding your data.

And when you’re no longer responsible for all those machines, your IT team will also have more time for day-to-day support, instead of focusing on server maintenance. Many accounting professionals also cite the ability to automate data entry as a major time-saver when they transition to a cloud-based solution. Between the switch from CapEx to OpEx, the saved space and the reduction of labour, it’s clear that there are many cost-related cloud computing benefits for accounting firms.

The Impact of AI and Robotics in Accounting Jobs: Artificial intelligence (AI) is the branch of computer science concerned with making computers behave like humans. AI refers to the ability of machines to perform cognitive tasks like thinking, perceiving, learning, problem solving and decision making. Read more…..

Automation and financial intelligence

Cloud accounting automates workflows and handles repetitive tasks, lessening the possibility of human error, improving user efficiency, and freeing up human resources for better uses. The pooling of data in the cloud also makes it easier to analyse data and provide advanced reporting, analytics, data visualization, and financial intelligence. This supports the optimization of operations at every organizational level.

What subjects are needed for cloud computing?

Besides the accounting skill, here are the primary topics you should know to start learning cloud computing:

Programming Skills. …

Familiarity with Databases. …

Basics of Security and Privacy. …

Knowledge of Agile Development. …

Familiarity with Operating Systems. …

Understanding of Virtualization. …

Basics of Networking.

What Does Cloud Computing Accounting Software Do?

Cloud computing accounting software provides accounting capabilities to businesses using a SaaS (Software-as-a-Service) business model. Data is sent into the cloud, where it is processed and returned to the user, and all application functions are performed off-site, rather than on the user’s desktop.

In cloud computing, users access software applications remotely through the internet or other network via a cloud application service provider. Using cloud computing accounting software frees the business from having to install and maintain software on individual desktop computers or local servers. It also allows employees in remote or branch offices to access the same data and the same version of the software.

Top Cloud-Based Accounting Software Providers

Most cloud application providers typically charge based on usage compared to site license fees associated with traditional accounting software deployments. Accounting data backup and disaster recovery should also be a part of your cloud computing accounting software account.

Oracle Netsuite

NetSuite is a full ERP solution that includes cloud-based accounting, as well as plenty of other enterprise planning features. It’s a significant commitment and takes time to learn and implement, but if a business is looking for not just accounting software but other financial and ERP solutions that all work together, NetSuite is a good choice.

Microsoft Dynamics

Microsoft Dynamics GP is an accounting solution with core accounting and ERP features that can be expanded to a full ERP solution. It offers a large number of mobile applications and customizable reports and benefits from integration with other products within the Microsoft ecosystem.


FreshBooks offers features for invoices, reports, time-tracking, and project management. It also integrates with applications like Trello, Salesforce, and Shopify.


QuickBooks, offered by Intuit, occupies about 66.58% of the market between its on-premises and online versions. Versions designed for freelancers as well as for small and medium businesses are available.


Xero offers unlimited users and administrative permissions, automation, and ample other features suitable for freelancers and small to medium businesses. Plentiful integrations with third-party apps also enhance its utility for e-commerce, marketing automation, invoicing, time tracking, and CRM.

Zoho books

Zoho Books is suitable for small to medium businesses that want cloud accounting software integrated into the rest of their Zoho ecosystem. With integration, Zoho Books supports business management features beyond mere bookkeeping.


GoDaddy Online Bookkeeping is specifically for sellers and resellers on Amazon, Etsy, and eBay. Inexpensive and streamlined, Godaddy Online Bookkeeping is an affordable option for users that don’t need double-entry accounting features.


ZipBooks is a simplified and affordable application with basic accounting features. It even offers a free tier with streamlined features for users just getting started with cloud accounting.

Financial Force

FinancialForce is a cloud accounting application in the Salesforce ecosystem. Financial Force is for medium to large businesses that need not just accounting but a highly-customizable ERP solution that can also integrate with other Salesforce applications and third-party applications to form a unified business solution.

Sage Business cloud

Sage Business Cloud is for small businesses with multiple users and even multiple subsidiaries. It offers strong accounting features but lacks native payroll, inventory, and time-tracking, although integration with third-party applications helps round out its features.


Kashoo is a simple cloud accounting solution that offers features like double-entry accounting, multiple users, and integrations.


Wave offers a solid array of core features, double-entry accounting, integrations, and automations. As Wave is free, this makes it an appealing option for businesses that aren’t yet ready to invest in an accounting application.

Impact of Cloud Computing on the Accounting Profession

Over the past years, many studies revealed finance-related professionals and firms who migrated their working to Cloud Based Accounting ended up increasing the value of their organization and their value to the organization as well. To back up this claim, a survey conducted by FloQast reveals about 85% of accounting firms have a hard time hiring and retaining talent for their firms, and more than half of these folks have resolved to use technology to overcome this obstacle.

Further, to be more precise, the adoption of modern technologies FasTracks your business processes and enables your staff to be more efficient. This survey witnessed higher job satisfaction and less work stress upon adopting the latest technology. With Cloud Based Accounting, a client can have his accountant virtually, anytime they want, and the same goes for accountants. They can have the latest advancements, so much so like up to an hour lead financial information.

Also, with the feature of mobility and multiple user access, data is easily input by the sales department, logistics department, and of course, by accountants as well. Moreover, all of this leads to accountants being pulled out of the archaic book-keeping pit and out in the new stance where they are of integral importance in financial advising and more into actual finance management. Hence, it was a game changer for accounting firms, who required new advancements.

Managing the Impact of Cloud Computing-The CPA Journal (



Role of Data Analytics in Finance Profession and Business |Uplift Professionals : The term data analytics (Data analytics in finance) broadly references the processes of collecting and assessing various sets of information. Multiple techniques can be employed to extract data and analyze patterns and trends that contribute to practical insight, inform further research, or decide on effective business strategies. Read more…


Hosting your software on virtual servers is cloud computing in accounting. Your data gets stored virtually at servers, giving you full remote accessibility and stringent IT security with unlimited data storage. Cloud computing and accounting software cloud make it easy for companies to quickly arrange resources from cloud carriers, scaling swiftly and easily as demand for accounting services rises. Organizations can launch sources equally as conveniently while paying only for the cloud-based solution they actually use.

As business procedures increase on a worldwide scale, the expectations of your staff rise too. Such demands in a company require tactical choices that demand professionalism from all economists. As aforementioned, understanding into the future is enabled with computing solutions and cloud accounting programs. In this case, there is the dissemination of financial and accounting info in an organized manner in which improves outcomes regardless of the various tasks. Compared to traditional accountants, firms that use a cloud accounting solution could not just access their QuickBooks real-time, but also have a better security and service performance.

Cloud services offer administrators a natural and unbiased look at some of the professional services that result in financial success. Success is accomplished via carrying out a cost-effective accounting framework that assists financial analysts store and gains access to information pertinent to an organization. With the rising demand for cloud technologies, the pay scale of these jobs is also increasing rapidly in the market. You will find better-paid jobs in cloud computing. The average salary for a cloud computing professional at mid-level is Rs. 20-30 Lakh per annum.

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The Impact of AI and Robotics in Accounting Jobs | Uplift Professionals

Artificial intelligence (AI) is the branch of computer science concerned with making computers behave like humans. AI refers to the ability of machines to perform cognitive tasks like thinking, perceiving, learning, problem solving and decision making. AI refers to the ability of machines to perform cognitive tasks like thinking, perceiving, learning, problem solving and decision making. Initially conceived as a technology that could mimic human intelligence. AI has evolved in ways that far exceed its original conception. With incredible advances made in data collection, processing and computation power, intelligent systems can now be deployed to take over a variety of tasks, enable connectivity and enhance productivity. Robotics is a branch of AI, which is composed of Electrical Engineering, Mechanical Engineering, and Computer Science for designing, construction, and application of robots.


As AI’s capabilities have dramatically expanded, so have its utility in a growing number of fields. Recent advances in artificial intelligence (AI) are leading to the emergence of a new class of robot. These are machines that go beyond the traditional bots running preprogrammed motions; these are robots that can see, learn, think, and react to their surroundings. Machine learning, deep learning, and natural language processing are subcategories of AI. Furthermore, we can consider robotics as a subcategory of AI. Thus, it indicates that AI is a vast area that covers many aspects. Moreover, there are various applications of AI, such as games, self-driving cars, and robots.

The Flip Side

The 1984 movie, The Terminator, portrays a dystopian future where robots and intelligent machines seize control of the world. In the movie, an intelligent killer robot — a terminator — is sent back in time from the early-21st century to change history. Now clearly, none of that has come even close to coming true, but what is clear is that technology will disrupt our future in ways we can’t yet predict. The idea that “the robots are coming for our jobs” is one disassociated from the reality of these technologies. That said, it’s a fact that accounting is changing.

The salient question is how AI is changing accounting, how AI innovation can change accounting jobs, and what accountants need to do to thrive during this digital revolution?

Automated Accounting-the Perspective

· Perhaps the most pessimistic view of the future of accounting comes from a website tool developed by Deloitte and Oxford University that predicts the likelihood that a robot will take your job. According to that tool, accountants have a 95% chance of losing their jobs to robots. 

· Taking a more optimistic view, a study by the Brookings Institution predicted that occupations with a high percentage of repetitive tasks may be at a high risk of automation, while those that require a high level of education — such as accountants — will be pretty safe. However, a later study by that same Brookings team found that advances in artificial intelligence may make better-paid and better-educated workers the most vulnerable.

Impact of Automation on Accounting

Until the advent of computers and Excel, most accountants did their work pretty much the same way as double-entry bookkeeping in 1494. Ledger sheets, pens, and adding machines were the tools of the trade. The development of QuickBooks in the early 1990s put computerized bookkeeping within the reach of small businesses who couldn’t afford the expensive mainframe computers and ERPs used by finance departments at Fortune 500 companies.

Now, thanks to accounting workflow automation, bookkeepers don’t need to spend hours and days on data entry when bank feeds can pull financial data into an accounting system in minutes. Automation streamlines processes and converts inefficient, error-prone, labor-intensive processes into efficient, error-free processes that need very little human intervention. Automation doesn’t just save time, but it also gives you more accurate numbers. Real-time updates mean that business owners always know what their numbers are. Automation in accounting has been made easier by the development of APIs, or application programming interfaces, which allow different pieces of software to interact with your accounting system. Before APIs, connecting two systems often required coding. Now, you can largely plug and play to create automated workflows quickly and easily. Applications like Expensify and Dext use APIs to push data from PDFs and photos of invoices and receipts into the general ledger. APIs also make bank feeds possible, so that transactions from bank accounts and credit cards can be directly downloaded into an accounting system.

Accounting firms use automation to extract information from tax documents and import it directly into tax returns. Finance professionals use automation to extract data from contracts and leases to create the journal entries and footnotes required by accounting standards. Business owners use automation to keep an eye on their business needs in real time. Today, many accounting tasks can be automated, as this graphic from McKinsey shows:

Automation can be something as simple as setting up rules in your accounting software to classify transactions that come in via bank feeds. The next step up is adding software applications to handle specific accounting tasks and to automate entire business processes. One example is order to cash software, which can grab orders from a customer portal, and route that information to the correct places for order fulfilment, customer invoicing, and collecting payments. This type of rule-based software is an example of robotic process automation, or RPA. RPA is like an Excel macro, but more powerful.

Automation towards AI in Accounting Jobs

We are now entering into the domain where some automation software leverages artificial intelligence and machine learning to expand its functionality beyond programmed rules. In machine learning, access to a large database of knowledge or accounting transactions allows the technology to figure out the patterns in that data and improve its decision-making, with perhaps minimal correction from humans. Cash flow forecasting software such as Jirav or Helm are examples of this.

Benefits of AI for Accounting

The most common use for AI in accounting is to take care of repetitive tasks. For example, AI systems can capably, and with minimal error, complete tasks that include the following:

·  Inputting and matching data

·   Receipt reconciliation

·   Creating and sending invoices

·   Expense reports

·   Tracking price changes

·   Account reconciliation

·    Sorting transactions

·    Data recording and reporting

AI is built on algorithms, which improve over time as they are fed more data. In addition to continuous improvement, AI isn’t susceptible to human error and has around-the-clock capacity to work.

Three of the primary benefits experts see AI providing to accountants are:

1. Invisible accounting: A behind-the-scenes function that frees up human accountants to engage more with strategic decision-making

2. Continuous auditing: Auditing without the need for breaks and with no gaps in reason or precision

3. Active insight: Accounting managers and leaders can get real-time visibility into their finances.

Will Robots Replace Accountants? Low Value vs, High Value Jobs

Automation gives accountants the time and bandwidth to do more interesting work and to add value. They won’t be spending as much time on the low-value work that has to be done before the high-value work can be started. When they can trust that the numbers are correct and up-to-date, combining accounting information with data from different parts of the business and applying data analytics helps them see patterns the naked eye can’t. Those kinds of high-value work are what business leaders need as input for the decision-making process, and it’s what provides those leaders with the actionable insights they need to move their businesses ahead of the competition.

This means that accountants will need to upgrade their skill sets and learn to use different tools. Being the fastest and most accurate with a ten-key will no longer be a prized skill, but being the one who can use data analytics tools and other new technologies to extract useful insights to improve your company’s operations will make you highly sought after.

It has been indicated that within five years, about 90% of finance functions should be fully automated, according to a 2020 survey of CFOs by Grant Thornton. As you can see from the figure below, accounts payable is the most automated function, with 61% of respondents having that currently implemented. In five years, 96% expect to have that fully implemented.

“Will AI reduce the need for accountants? I think the answer is probably yes,” says Richard Anning, head of ICAEW’s IT Faculty. “But you have to define what an accountant is. If you’re looking at some of the more repetitive bookkeeping or process-driven tasks, those are more likely to be subject to automation than the higher value tasks,” he says.

Michael Whitmire, CEO and co-founder of FloQast, an accountancy software startup based in Los Angeles, agrees: “Accounting departments overall will be trimmed down and the employees left will be able to focus on more strategic initiatives, like process improvement, cost control, and capital optimization. AI is already beginning to automate tedious tasks such as data entry. Automation is occurring at the staff level, but it will creep up the corporate ladder and begin to automate higher level accounting jobs,” he says.

The Future of Accounting Technology

One of the major changes to the accountancy profession as a whole is likely to be how services are valued and priced. Because manual tasks are also time-intensive, many accountants price their services based on how long they take. Amy Vetter, CPA and Technology Innovations Taskforce Leader for the AICPA’s Information Management Technology Assurance (IMTA) Executive Committee, argues that automation technology will push accountants to price services with a more value-centric model.

 This suggests that the value of data entry-related tasks is likely to go down while the value of accountants’ insight and recommendations will rise. A report from The Association of Accountants and Financial Professionals in Business suggests that this is actually an opportunity, arguing that accountants are uniquely positioned to be change agents who drive the direction of technology investment for their organizations. The report also identified the top technologies likely to shape the future of accounting, which include:

·   Mobile accounting

·   Big data

·   Artificial intelligence and robotics

·   Cybersecurity

·   Educational technologies

·   Cloud computing

·   Payment systems

·   Digital Service delivery

While the report cited above focuses on accounting for business, many of these technologies will have far-reaching effects across the accountancy profession. For example, all accountants could benefit from keeping an eye toward digital service delivery, whether this takes the form of engaging more clients online, leveraging secure cloud storage services for clients to share documents or another innovation that enhances the client experience.

US CMA Fees and Facts | FY 2022 | Uplift Professionals :- Becoming a CMA is a potential pathway to a great new career or an opportunity to move up in your existing career. People who work in the accounting profession and get their certification will automatically earn more than those who do not….continue reading.

The Future of Accountants in AI Era

Although artificial intelligence made considerable leaps in the past several years, these advances have not damaged the growth of accounting jobs. The Bureau of Labor Statistics projects 10% growth (faster than average) for accountants and auditors from 2016-2026. The growth is at least partially due to the complexity of the job, which includes many responsibilities that AI is unable to do—skills like making strategic business decisions and understanding a complex regulatory environment remain in high demand for accountancy.

While news stories like this one like to put artificial intelligence and accountants against each other, the future isn’t either AI or human accountants. It’s both. Like other automation technologies (e.g., cloud computing), AI will change the focus of accountants’ roles. As Forbes Technology Council Member Mike Galarza suggested in a 2017 article, the rise of AI will create more value for accountants who develop their interpersonal skills, such as their ability to communicate complex requirements and develop strategies for their clients.

“Accountants should evolve to become business advisers and strategists who help drive long-term business strategy — making sense of complex financial infrastructure and interpreting increasingly fluid tax law,” Galarza wrote.

Of course, remaining competitive in a highly dynamic job market is not without its challenges. The exponential advances made in the technology sector will require that accountants continue to develop not only their key domain skills, but also understand and stay current with the technology disruptions likely to impact their work.

How to Future-Proof Your Accounting Career?

AI is best at replacing manual tasks and alleviating the burden of repetition. However, much of bookkeeping exists in that realm. Development of skill sets to cope with the changing scenario with following adoptions can help in the process.

1. Gain Practical Accounting Experience Backed by Theoretical Context

One of the key skills still missing from artificial intelligence in general is the contextual awareness to determine the best response to a given situation. For example, AI may be able to process thousands of documents within a few minutes and identify quantitative trends, but AI can’t yet make recommendations based on this information. Accountants equipped with analytics and AI, alongside an understanding of accountancy practices and knowledge of their organizations, will be able to fill this gap. Extensive accountancy domain knowledge will always be essential, but the future of accountancy will also make it important to think beyond completing a rote set of tasks. Instead, all accountants should push themselves to understand the “why” element, and challenge assumptions as to whether their current approach is the best one for their organizations or their clients.

2. Develop Communication and Business Skills

As the accountant’s role becomes more focused on decision-making, strategy and planning, there will be a premium on communication and business skills. In addition to being able to look at quantitative data through a strategic lens, communicating recommendations such as why clients should follow a particular course of action will be a powerful asset in the future of accounting careers. As Robert Half noted in 2018, communication skills are important to employers who are looking for “accounting professionals with a collaborative personality, an executive presence, conflict management and adaptability.”

3. Learn from the International Professional Accounting Courses

It is quite evident that courses like CMAs, CPAs, CIA, EA etc. and other credentialed accounting professionals already aim for roles where they make strategic decisions. Bookkeepers may represent a group that feels more at risk for an AI takeover. One way accounting and finance professionals can show their interest in growing and learning about new technology is by pursuing specialized certifications like the Certified Management Accountant (US CMA) certification. It focuses on developing the skills technology alone can’t do i.e., managing and developing people as well as decision-making, planning, and creativity. The CMA exam is structured in two parts, with an emphasis on how to influence key decision-makers, how to extract actionable insights from data, and how to become a business partner.

Which is the best professional certification for a banking career- US CMA course, CPA US course or CFA? :- However, working in these financial decision making and strategic finance areas requires you to be equipped with high skill sets. But first you have to choose which course is best for you to know more…..continue reading


While technology changes like these have never been as dire as news headlines portray them, they do have the potential to change the accounting career landscape. In a world where AI is sophisticated enough to process most of the information that accountants deal with every day, for example, there will be less focus on data entry tasks and more emphasis on accountants’ role in strategic decision-making and long-term planning. Like other professions affected by AI, accountants will need to transform the way they position themselves and communicate with their clients. Given the growth in AI and other advances, modern accountants will be driven to become more tech savvy and position themselves as strategic partners for their clients and their employers.

One cannot deny the fact that this revolution of AI in accounting is not going to slow down in any way. No doubt AI technology has the potential to perform all mundane tasks of accountants. But technological changes cannot replace humans in any situation as human intelligence will always be required to perform and efficiently run technology.

The accountants are needed by the firms for interpreting and analyzing data captured by AI-powered machines. Moreover, accountants will play a major role in doing higher-order task consulting services better than machines. Rather than spending unnecessary time performing repetitive tasks, they can invest their time and focus on general tasks like data analysis and consulting services. Therefore, rather than replacing accountants, artificial intelligence helps accountants to do their regular tasks in a more technologically advanced manner. The key to the digital transformation of accounting and financing is pairing people and machines together allowing each one to contribute in areas they are best skilled at.

Uplift Professionals, a premier training Institute for global professional accounting courses and a partner of IMA(US), helps to make “Future-Proof” accountants by giving quality training to the aspirants to pass US CMA, CPA, Enrolled Agents, etc. exams in the most student friendly manner.

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