Skills and Trends in Accounting Profession

Career Viewpoint

Table of Contents
INTRODUCTION ..........................................................................................................................4
MAIN BODY ..................................................................................................................................4
General trends which will impact on the chosen profession/industry.........................................4
Skills/knowledge and experience required..................................................................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8
Appendixes......................................................................................................................................9

INTRODUCTION
Career refers to that occupation which is undertaken for the significant period of time of a
person's life with opportunities in terms of progress. Career is very important because it aligns
with that parameter which is concerned about the significance of an individual which makes an
individual very strong, positive and energetic as well(Aldrich and Ruef., 2018).In the present
report, I have chosen that profession/industry that is related to Accounts which is taken into
consideration. The report will cover analysis about general trends which will impact the chosen
profession or industry. In addition to this, the present report will cover discussion about the key
skills and knowledge which is expected from an applicant at this stage in their career.
MAIN BODY
General trends which will impact on the chosen profession/industry
There are certain general trends and changes in the Accounts profession which will
impact the way of working at the organisational level. These general trends are defined into the
following manner:
 Role of Artificial Intelligence: Artificial intelligence plays a very significant role in
terms of finance and accounting. Companies has applied artificial intelligence to the
analysis of lease contracts in order to make it easier for capturing the information on the
fast pace manner on amount to be paid, termination and renewal options.
 Accounting Software: There are certain companies who plans to implement cloud-based
accounting solutions in the near future (Brooke and et.al., 2020). There are planning
systems of enterprise resource which integrate the accounting software and financial data
with other important areas of the business such as order and production management.
Accounting software not only makes the working easier but also reduces the complexity
parameter into positive manner.
 Digital transformation: There are organisations who changes their way of working with
the aid of digital technology where accounting and finance plays a major role in it.
Organisations have put the processes in place to account for new revenue from new
channels, subscription models, digital product offerings and many more.