New-Age Accountant Evolution

Evolution of the New Age Accountant

Since inception, the accounting career and profession encompasses significant evolution in principle and practices. The decade old manual bookkeeping systems to maintain financial records sometimes with handwritten ledgers and hefty paper works has been partially replaced by use of computers and software like QuickBooks to some extent. This resulted in a generation of stereotyped but hard-working accountants. Now, we are at the doorstep of tremendous technological metamorphosis in every sphere including the professional accounting domain. Keeping this in mind, today’s challenge for accounting professionals is a demand of transformation from a hard-working accountant to a new age “Smart accountant” par se.

Let us discuss the main pillars to accept such challenges through digitization and recent advancements in accounting technologies which a new age smart accountant must be familiar with.

Cloud Computing

Cloud -based solutions bypass traditional installation of accounting software in individual computers. Here, it is hosted by third- party servers where accountants have accessibility through web browsers with automatic saving of back-up data in the cloud. This is cost-effective for the companies, highly scalable and can be operated from any compatible device from any location.

Robotic Process Automation (RPA)

This replaces human intervention for repetitive accounting tasks through automation. This includes generation and scanning of invoices, detection of variances in financial records and response to vendor inquiries etc. Finally, it reduces human error also.

Machine Learning

Here comes the use of algorithms in various models which enormously help to handle vast data sets with smooth transaction processes and real-time data predictability -a boon for a new age smart accountant.

Data Analytics

This amalgamation of software, tools and statistical procedures create in depth insights into the financial status and prediction through effective analytics. The various analytical tools help in problem solving, risk assessment, performance monitoring and forecasting etc. Through this, a new age smart accountant can design business strategies based on data analytical decisions.

Artificial Intelligence

Artificial intelligence (AI) is invading the accounting field at a great pace and revolution. It can manage and analyze huge data in a short period, can replace repetitive accounting jobs thus saving time and provide the new age smart accountant to focus more on critical thinking and strategic decision -making abilities.


This newly advancing technology helps the new age smart accountant to keep the sensitive data safe and protect from fraud and criminal activities.


As we are experiencing, enchanting technological developments are influencing the accounting profession at a great pace and remodeling the accounting industry to newer shape. Hence, to cope with this revolutionary process and to make the conventional accounting job future proof, conversion of hard-working accountant to a new age smart accountant is the need of the hour. One of the ways to achieve this is fetching a good international professional credential in the academic accounting portfolio to become a New-age Smart Accountant.

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FMAA – The New ‘Paradigm Shifter’ in Accounting and Finance

FMAA (Financial and Managerial Accounting Associate) is the new entrant from the portfolio of Institute of Management Accountants (IMA) that was introduced recently and is being considered as a path breaking foundational certification course for accounting and finance professionals. Acquiring the FMAA certification will help the professional, particularly at the entry level to make them more presentable to the present-day employers with solid foundational knowledge and upskilling in present and future accounting arena. With the current challenges faced by the accountants with the intrusion of technologies and shortage of well-equipped accountants, the FMAA certification is meant to break the traditional barriers to make the field wide open for not only the accounting field but also from other domains to make it accessible for any business professionals.

FMAA Eligibility

The beauty of this innovative curriculum is regardless of educational background, there are no prerequisites to pursue the FMAA certification course allowing business professionals as well as entry level personnels from every corner to attain this certification.

FMAA Course

To get the FMAA certification, one must acquire knowledge in 5 below mentioned content domains with respective weightage of each section.:

  • General accounting and financial management (25%),
  • Financial statement preparation and analysis (25%),
  • Planning and budgeting (20%),
  • Cost management and performance metrics (20%),
  • Professional ethics (10%).


With a recommended 50 hours of study, the FMAA is a single part exam of 2 hours duration having 80 MCQs to answer.

FMAA Registration

As per IMA, it will start from January 2024 for the initial testing windows of March 2024 in English and exams will be conducted by Prometric centers across the globe.


The FMAA certification program provides a unique innovative opportunity for accounting students and professionals to acquire essential fundamental accounting and finance skills for everyday use in the workplace, including the tech sector financial services. Apart from the budding accountants, FMAA is aimed to target talent acquisition in professionals from non-accounting sectors too and those are not able to pursue the CMA US program to make them hirable by the employers.

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Data Analytics in Accounting and Finance

Why do we need Data Analytics in Accounting and Finance?

All our accounting and finance buddies are well versed with financial data in their day in day out business. Then why does this data analytics separately mean for them? To address this, it has to be admitted that companies nowadays have access to more information than ever before. In fact, this is substantiated by the data from “SeedScientific” which estimates that every day 2.5 quintillion bytes of data are generated. But what does that mean for an accountant? Despite the historical record of accounting numerical, it simply means opportunity.

According to the Journal of Accountancy, data analytics “…includes sourcing relevant data and performing analyses…and using the insights gained from analytics in decision-making.” Thus, the knowledge and experience of an accountant with data analytics skill enables them to explore deep into the huge data and extract the value in it. Let’s see the prime aspects of data analytics that immensely help an accountant.

Deciding with underlying Strategy: Being an accountant, once you acquire the skill of data analytics, you will be the sought after person for hiring because you know the strategic decision making by exploration and interpretation of big data.

Alleviation of Risk: It is true that if you have better analytic skill, you can assess the underlying or forthcoming risks much better. Henceforth, you will be more equipped to identify fraud or detect any anomalies or find out the operational areas which need attention.

Concurrent Analysis: As we are aware that reflection of financial operations used to come later in the form of financial reports/statements periodically. Hence, there is little scope to mend it if required. Data analytics, on the other hand, present much deeper reflection of the same financial operation in a real-time format that facilitates quicker implementation of strategic decisions.

Elevating Productivity: We must accept that gone are the days when we accountants thrive on manual spreadsheets as our tools. Data analytics tools can easily replace your repetitive jobs so that you can focus on other larger issues. Moreover, knowing languages like Python and “R” will help to create custom algorithms and data models that can be used with larger sets of data.

Rising over others: With the mastery of data analytics with your accounting skills, you will be able to dive deep insight into the huge data and extract the useful information at your fingertips which a conventional accountant without data analytics skill will dare to imagine.

Ahead in the Talent Hunt: Skill of data analytics is nevertheless considered as a talent which hiring authorities are eager to include in their pack. So, acquiring the knowledge of data analytics with accounting skills will not only help securing your current position, but also make you a future proof accountant.

To sum up, according to Forbes, by harnessing big data, accountants “…could leverage data management tools, including augmented reality, to humanize and contextualize spend data for the C-suite to make better decisions based on long-term value rather than return on investment alone.” With continuous generation of new data sets, data analytics in accounting is an ever evolving and increasingly important field. The potential and power in data makes this an exciting and challenging time for accountants to boost their career by expanding their skill set.

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How Much Time Does It Take to Become an Enrolled Agent? | Uplift Professionals

Enrolled agent

Professionals who help clients with taxes may benefit from becoming enrolled agents (EAs). The IRS empowers EAs with tools unavailable to most other tax preparers. These professionals can speak on clients’ behalf, argue disputes, and make cases to the federal taxation authorities. EAs can handle virtually any situation that may arise in the case of a taxpayer.

The best way to become an Enrolled Agent in one year is to pass each part of the EA exam on your first attempt. There are three exam parts you’ll have to study and sit for separately, but it doesn’t have to be as difficult as it sounds. To make becoming an EA manageable, you just need to set small, incremental goals and create a solid study plan. Being realistic about your expectations will help you make a plan you can keep. Candidates are more likely to stay on track when they regularly meet the benchmarks they set.


How to be an Enrolled Agent-Scope and Benefit for Tax Professionals: An EA is a federally authorized tax specialist that operates to provide advisory services to American taxpayers about matters concerning the IRS. Achieving “EA” status is considered the highest credential awarded by the IRS and is legally recognized throughout all U.S states…. continue reading

One of the most common questions often comes to mind: How long does it take to become an Enrolled Agent (EA)? The common reason behind this is quite understandable. Before you get too far into the process of becoming an EA, you want to know if it is worth the time, effort, and funds required. But the benefits of the EA include increased job opportunities, income, status before the IRS, and tax expertise, so I believe that the designation is very advantageous. One of the main reasons people choose to become an EA is the generous enrolled agent salary.

However, passing the EA exam (officially called the Special Enrollment Exam (SEE)) can take a good deal of time, so you need to prepare for that.

How Long Does It Take to Become an Enrolled Agent?

Depending on your tax knowledge, becoming an enrolled agent can take 3-8 months. You may hear some enrolled agents boast that the EA exam is easy and they passed it in just a few weeks. Yet, the reality is that most candidates are not able to pass in 1 month. You may need more than 1 month or even more than 1 year to pass. But as long as that timeline works for your lifestyle, you shouldn’t feel pressured to pass faster. You have two years* to pass all three parts of the EA exam, so while you do not technically need to pass all three in the same year, many candidates want to pass before tax season to get more clients. This means appointments to take the exam early in the year can fill up quickly.

*Note: Due to the global COVID-19 pandemic, the IRS has extended the 2-year period to 3 years, giving candidates more time to safely sit for and pass their exams.

When Can You Take the Enrolled Agent Exam?

The Enrolled Agent exam is available for candidates to take 10 out of the 12 months in a year. The testing window lasts from May 1 to February 28 of the following year. The 2 blackout months (March and April) allow the exam administrators to make any necessary adjustments to the exam. They also use this time to update the content according to the most recent tax law.


The Study Plan

The number of months your EA exam journey will last depends on how many study hours you will need. Also, the other half of the equation is how quickly you can accumulate those study hours. If you are not super familiar with the current tax code, getting ready to pass all 3 parts may take you a few hundred hours. A sample guideline is provided below.

Number of EA Exam Study Weeks

Exam Part # Of Study Hours 10 Hours/Week 15 Hours/Week
1 80-100 8-10 weeks 6-7 weeks
2 80-100 8-10 weeks 6-7 weeks
3 60-80 hours 6-8 weeks 4-6 weeks
Total 220-280 hours 22-28 weeks 16-20 weeks

It’s a good idea to set aside regular time for studying, such as an hour before work or during your lunch break. You can try to study for the Enrolled Agent exam “during your free time,” but if you’re like most people, there just isn’t enough extra time when you’re also working or going to school. The Gleim study plan suggested devoting the following time span.

Average time spent studying per part of the EA exam
Part 1 85 hours
Part 2 125 hours
Part 3 55 hours

Based on this, one can make two types of time-based study plans as mentioned below.

  1. Deadline -based study Plan for EA exam

If you have a firm deadline to become an EA, you may need to sacrifice other obligations to fit in enough study time to pass then you can follow the steps mentioned below.

  • Mark your deadline and make sure to note any obligations that may interrupt your studies, such as holidays or other life events.
  • Work backward from the deadline you marked. If you have weeks where three or more days are not available for studying, count them as half-weeks.
  • Take the total amount of hours you will need to study (see chart above) and divide it by the number of weeks you have until your exam. That will give you your study hours per week. If it seems unattainable, you’ll have to either make some scheduling sacrifices or reconsider your deadline.
  • These hours are included in the total time chart above, so you should aim to complete all of your review material at least one week before your exam. This is when you touch up on topics you haven’t practiced in a while or might still be struggling with.
  • Be sure to set a benchmark every week to check your progress against.

Example: For a nine-week plan, if you are studying 10 hours a week, and your first three weeks are full weeks, you should be at least 30% done with your studies by the end of the third week. Write “30% done” for the final day, and check your progress when you get there. If you start to fall behind (for example, by missing two benchmarks in a row), you may need to adjust your study plan.

  • If you are behind or think you need more time, you can reschedule your exam as long as you do so at least five days before your current exam date. Rescheduling your exam will require a $35 fee. If you know you need to reschedule and do so 30 days or more before your exam, you can reschedule for free.
  1. Hours- based study plan for EA exam

If you only have a certain number of hours each day available to study, you should set test dates that give you enough time to hit your hours targets. It is more or less similar to above with the following parameters.

  • Make sure to note any important obligations that may interrupt your studies, such as holidays or other life events.
  • Set a realistic goal, but be serious about it. It might be easy to commit to studying for only an hour a week, but you should aim as high as you reasonably can.
  • Divide the total number of hours you need to study by the hours per week you can study. If you have weeks where three or more days are not available for studying, count them as half-weeks. This will give you the approximate number of weeks you will need to be ready to sit for the exam.

Sample Enrolled Agent study plan (Gleim)

Because the Enrolled Agent exam tests the previous year’s tax law, there is no better time to start studying than right after-tax season. All of that year’s tax laws are fresh in your mind, which will just help you more while studying and answering questions. Below we cover a sample plan to study for the Enrolled Agent exam using an average of 10 hours per week. Your exact plan will likely differ based on your goals and commitments.

EA Part 1

Start Date       April 22

Final Review    June 24

Exam Date      July 1

EA Part 2

Start Date       July 5

Final Review    September 27

Exam Date      October 4

EA Part 3

Start Date       October 17

Final Review    November 28

Exam Date      December 5

How Long Do You Have to Pass the EA Exam?

Once you pass your first EA exam part, your credit for that section lasts for 2 years from the date you passed. Therefore, you should pass the remaining 2 sections within those 2 years to avoid losing credit for your passed section and having to take it again. However, if you don’t pass a part of the EA exam after taking it 4 times in the same testing window, you must wait until the next testing window to try for the fifth time.

Enrolled Agent (EA) – The Complete Kaleidoscope: Course, Eligibility, Syllabus, Exam Structure and Job Opportunities in India: An enrolled agent (EA) is a person who is authorized to represent taxpayers before the Internal Revenue Service (IRS) by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee…. Continue reading

What Can You Do to Pass the Enrolled Agent Exam Faster?

If you’d like to pass the EA exam as soon as possible, follow these tips:

  • Skip Content You Already Know

No matter which course you choose, you may be able to speed up the process by skipping the reading and moving straight into the quizzes. If your review course suggests you study an exam content area more than you think is necessary, you can try to take the shortcut by answering practice questions first. In doing so, you may find that you’re already proficient in that area. However, if you try this study strategy and score low on the practice quizzes, you should do the reading. You must have sufficient comprehension of every exam topic. So, read the book or watch the videos to refresh your understanding of the material. Then, after you’ve gone back to the basics, you can return to the MCQs.

  • Focus on Your Weak Areas

Only by focusing on your weak areas can you truly save time. If you ignore the troublesome topics, you risk failing an exam part, which just draws the exam process out even longer. To focus on your weak areas, take a mock test at the start of each study unit. Then, use the results of the quiz to figure out which topics need more of your attention. After that, prioritize those topics in your reading and quizzing until you’ve aced them.

  • Make Sacrifices with Your Time

You may be able to pass the exam within 2 years by going about your life as usual and studying for the exam in your free time. But if you want to get the exam over with so you can enjoy the EA designation ASAP, you’ll have to adjust your agenda. To pass the exam fast, you must make a study schedule. In the process, you can carve out even more weekly study time when you temporarily drop non-essential activities from your normal routine. It might not be fun, but it will be worthwhile once you’ve finished the exam and have the EA to show for it.

  • Pass Each Section on the First Attempt

This mandate may be easier said than done, but it’s the ideal goal for someone who feels the need to speed up their EA proceedings. To pull it off, you must

  • Rely on an EA review course,
  • Give yourself plenty of time to prepare,
  • Stick to a realistic but consistent study schedule, and
  • Use your study materials to master all of the exam content.

Remember: Passing each part, the first time can be done: it just takes dedication, hard work, and persistence.

How Long Does It Take to Get the EA License After You Pass the Exam?

After you pass all 3 parts of the Enrolled Agent exam, you must submit the Application for Enrollment, A.K.A. Form 23. You have 1 year from the time you pass your final exam part to fill out this document. You’ll also have to pay your enrollment fee to the IRS at this time.

How long does it take to become an enrolled agent after completing the exam?

Approving your application can take up to 90 days because it involves a background check. And because this final procedure can extend so long, becoming an EA can take you anywhere from 3-8 months.

Follow these steps to become an EA:

  • Obtain a Preparer Tax Identification Number;
  • Apply to take the Special Enrollment Examination (SEE);
  • Achieve passing scores on all 3 parts of the SEE;*
  • Apply for enrollment; and
  • Pass a suitability check, which will include tax compliance to ensure that you have filed all necessary tax returns and there are no outstanding tax liabilities; and criminal background.


The best way to become an Enrolled Agent in one year is to pass each part of the EA exam on your first attempt. There are three exam parts you’ll have to study and sit for separately, but it doesn’t have to be as difficult as it sounds. To make becoming an EA manageable, you just need to set small, incremental goals and create a solid study plan. It is advisable to do a self-evaluation check by asking the following questions to oneself.

  • How familiar am I with the material on the Enrolled Agent exam?
  • When was the last time I studied for an exam or took a tax course?
  • How much time do I have available to study each week?
  • Do I have a deadline to become an Enrolled Agent?
  • How long can I concentrate in one sitting?

Being realistic about your expectations will help you make a plan you can keep. Candidates are more likely to stay on track when they regularly meet the benchmarks they set. On an average, depending on experience, you should expect to invest up to 40-70 hours of total study time for each exam part.

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Future of Professional Accountants US CMA|US CPA|ACCA |2023

Time is ticking for students and working individuals of finance and accounting to hone for a more professional approach (US CMA or US CPA ) by breaking the cocoon of their academic acumen. In line with the continuous changes happening in the style of management, culture, technology and work environment, conventional accounting processes are vulnerable to the threat of future viability. There are three major confrontations which one has to overcome, namely, the attraction towards the field, relevance in the job market and finally the challenge of changing scenario. Let’s discuss the pitfalls and how to tackle the challenges.

Future of Professional Accountants-2022- US CMA - US CPA -Uplift Pro

A. The Attraction

This incorporates the fact that selection of accountancy as major subject is still less than the desired number of accountants to take it up professionally. The diminishing career choice of accountancy over other career paths can be a threat to the supply line of competent accountants in future.

B. The Relevance

This is associated with with the myth that accountants are in less demand because of the integration of automation and technological infiltrations. Relevance is obviously there if the accountants have required upgraded professional skill and competence.

C. The Threat of Change

This is the most crucial challenge that deals with the notion that conventional accountants will become obsolete due to changing economic changes, hence, need to be continuously updated. It means that having a highest academic degree in accounting may not be “future proof” as long as job availability and security is concerned. These three confrontations result in a transference in academic path and career options towards the domain of professional accounting.

How to tackle these challenges: The following steps can be explored

1. Creation of Accounting Space

The most important step is the transformation from accountant by academic degree to the accountant by professional skills and training Such transformation is vital to open the door of a larger field of employment not only in the strategic management accounting and financial expertise in the arena of public practice too. This creates the space for professional accountants to remain relevant for employment in future.

2.   Capsizing the Model

It is evident that emphasizing more on theoretical accounting knowledge in our academic curriculum has created shortage of business skills and talents. This is more important than the technical skills alone to develop shortage of professional accountants. Incorporation of professional accounting courses in our academic curriculum can be effective to meet up this gap.

3.   Breaking the Border

This can be achieved by encouraging the students to cross the border of narrower academic degree towards the broader spectrum of professional certification in addition.

4.  Utility of Professional Courses

To combat the challenges in the backdrop, it is essential for the academic accountants to not to rely on decade old repetitive tasks only. Having a basic academic qualification in accounting may not suffice to compete in the ongoing challenging work scenarios. Hence, until unless application based skills and knowledges are integrated in the academic programs this conflict remains. Thus, it is wise and advisable to grab a professional certification which are  of increasing demand in various organizations i.e. from service to manufacturing industries, from private to public sectors as well as in MNCs in India and abroad. So, the gist of the above discussion suggest one to be an internationally recognized professional accountant.

5.  Actions required to be “Future-Proof”

Based on above fact, the present and would be accountants need to upgrade themselves. Instead of automated repetitive task based jobs, the need of the hour is to pursue some international professional courses in accounting and finance. Two of such courses are listed below.

a)      US CMA Course

The Certified Management Accountant(CMA) is a professional certification in the management accounting and financial management field conducted by IMA. This certification signifies that US CMA holders possesses knowledge at the areas of financial planning, analysis, control, decision support and professional ethics.

b)      US CPA course

The Certified Public Accountant(CPA) course is one of the top most accounting qualification in the world conducted by AICPA,USA. The US CPA mire or less equivalent to Indian CAs but having global credibility. So, if you wish to fast track your international career in accounting field, with inclination towards internal auditing, the CPA US course for you.


To sum up, as 2022 is knocking the door, the industry is getting more dependent on Artificial Intelligence(AI) based repetitive accounting jobs, threat of job -cuts for conventional accountants will be on the rise. To get rid of this, you have to break the shackle and cope with the challenging situations of globalisation. Hope, you understand the worth of being a Professional Accountant of International level to win over the situation.

Choose the best US CPA and US CMA institute in India, Africa, and Middle East – Uplift Pro

Uplift Pro is one of the top training institutes for the US CMA, US CPA US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized CMA US study center. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.

Some of the exclusive features include –

A. Authorized partner of IMA and Gleim in India

B. High pass rate of 85 %

C. Live online classes ensuring that the regular office working hours is least impacted

D. 1:1 personal support from our 30 plus years of experienced CMA and CPA certified faculties

E. Affordable course fees

F. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

G. 100 % placement assistance for jobs

Future of Professional Accountants- US CMA-US CPA -2022

Request for Live Demo class / contact at +91-8787088850 to book your seats now.