Career Research Report: General Trends and Skills in Accounting Profession

This report explores the general trends that will impact the accounting profession and the skills and experience required in the field of accounting. It also evaluates the potential of accounting as a career choice.

Career research report

Table of Contents
Introduction .....................................................................................................................................3
Main body........................................................................................................................................3
General trends which will impact the accounting profession ....................................................4
Skills and experience required in the field of accounting ..........................................................4
Evaluation ..................................................................................................................................6
Conclusion ......................................................................................................................................6
References .......................................................................................................................................6
APPENDIX......................................................................................................................................7

Introduction
The aim of career research is to access the research career fitting, personality and
presented a documented report. In the present report, I have chosen accounting as a profession to
enhance a career in this field (Bhagra and Sharma, 2018). In this we will going to cover general
trends which will impact the accounting industry and what skills and knowledge will be required
in chosen field. Apart from this, by the hel662.doc (98 KB) Download | Removep of secondary
research what skills and experience required for an applicant to enhance their career for future
growth and help an organisation effectively and efficiently. Further more to this, evaluation will
be done on the basis of general trends and skills of an accountant so that it enhance the work.
Main body
Analysis and application
General trends which will impact the accounting profession
There are various general trends which will impact the profession of accounting in an
organisation. Some of them are explained in detail:
Cloud Accounting – It is one of the general trends which is most of the business uses in
their organisation. Various operations to reduce the business cost and data storage for
connectivity most of the business depends on the cloud. By using internet connection from any
device it enables the use of cloud based software (Chua, 2019). In case of any loss of physical
assets occurred for example laptop to protect a business intellectual property cloud is a secure
way of using. In addition to this, the cloud computing can support the business enterprises to
store large amount of financial data that can be be used by the organisation when the need arises.
Social media strategy – It helps to reach the wider audience it creates the presence of
their online business. There is no cost on usage and able to communicate to the millions of

people. It also helps to increase the we662.doc (98 KB) Download | Removebsite traffic,
visibility and business exposure. It provides the clarity in choosing the services and to gather the
information. In relation to this, the accounting professionals can gain gain necessary financial
informations by using the digital platforms.
Outsourcing – It focuses on the primary business rather than building accounting
department. It is one of the biggest trend in accounting services and outsourcing finance as it
helps to reduce the fraud risk, cut down the costs and help them to provide access in the field of
services of dedicated professionals. It access to top system and scalability of business (Dokko,
Tosti-Kharas and Barbulescu, 2019). It has the number of benefits of the collaborative
accounting and able to access to a team of experts. It creates the enough time in expansion of
business and able to focus on growth.
Role of artificial intelligence – In the field of accounting artificial accounting producing
the positive results. Robotic process automation and artificial intelligence are most of the
companies uses to highly repeatable tasks, to automate mundane and for higher value activities
and higher impact it allows accountant to focus their time on these activities (Petratos and
Faccia, 2019). It is the cost effective method which help the organisation to increase the profit
and market share.
Block chain technology:
The other important technology that can support the accounting department to keep
financial informations in effective manner is block chain technology. By undertaking use of this
technology the company can reduce the maintenance cost related to the reconciling ledgers. It
has also allowed the accounts department to easily manage as well as track digital assets.
Data analytics:
The data analytics technology can also automate the accounting process in great manner
by improving the taxation process as well as auditing of financial statements. This can support
the company in making financial statements with better accuracy rates.
Skills and experience required in the field of accounting
There are various skills, knowledge or experienced required in the accounting field which
work effectively and efficiently in an organisation. Some of the skills are as followed:

Innovation – Accountancy is an indispensable tool of business cycle. Innovation is
required to perform the accounting activity as the business world evolves and the company or
recruiters also require and looking for a fresh idea so that the work will become easy or one can
achieve its goals efficiently and effectively.
Analytical Skills – The work of an accounting requires a detail oriented eye or
meticulous. It must have the ability to analyse or to ensure every detail is current and accurate
through hefty financial records. By having the effective leadership quality it helps the
organisation to achieve its goals, accurate data and accounts on time effectively and efficiently.
Interpersonal Communication – It is necessary for the accountant to have the
interpersonal skill in order to optimizing financial records so that accountant can explain their
finding to clients and colleagues as many of them don't have the strong understanding of
complex concepts of finance (Fidan, 2019). By the help of accountants who have strong
communication skills so that they can simplifies the data of vast amount at their disposal. For the
success in accounting role both written and verbal communication is important.
Adaptability – Due to rapid changes in the technology the accountant should always be
adaptable and well prepared in advance to adapt the changing protocols and standards as well as
workplace dynamic, technological advancements and new platforms for interaction of clients. It
helps the accountant to grow its career and organisation in future and able to adapt the changes
with the changes taking place in the environment accordingly. As a critical business tool like the
rise of artificial intelligence.
Industry Knowledge – It is the essence quality that an accountant must have industry
knowledge skills with them. For example for accountant ledger skills are key for understanding
debits and credits, skills to differentiate between trial balances and ledgers (Jackson and
Collings, 2018). It able to create the better understanding of the industry that which trend the
others are following which is cost effective and more profitable for the company.
Time management skills – an accountant must have the time management skills and
should be aware of its projects and should know the deadline for each so that they can prioritise
their work accordingly. For this whether accountant can set the regular reminders on phones,
keep detailed calender, stay in charge of schedule etc. By the help of time management skills it
simplifies the work and able to achieve its goals smoothly, effectively and efficiently.

Knowledge of accounting practices – It is important to have the detailed knowledge of
regulatory standards related to public and corporate finances in accounting practices to ensure
the financial reporting requirements and morals in the accounting practices for an organisation is
maintained effectively and efficiently.
Evaluation
From the above accounting general trends and skills required for an accountant I think I
have all the skills and potential to work as accountant in a reputed company. I think accounting
as job profession is best suitable according to my capabilities and this will enhance my career in
future growth as the accounting profession will help the company to keep its data up to date and
manageable. Every industry need to keep the accountant to keep the company's data safe and
maintain for further use (Lindgreen and et.al., 2021). Now a days the demand for accountant is
highly increasing in the market and creates a best opportunity for me to enhance my career in the
field of accountant. I have the best knowledge of accounting and has also previously worked as a
accounting which gains my knowledge more. I will be making best use of my knowledge which
helps the company in its future growth by optimum utilisation of resources efficiently and
effectively. The role of accountant in any company will be lifelong as this is the pillar of strength
for the company.
Conclusion
From the above report of career research report, it has been used the accounting field as a
profession. In this both primary and secondary research has been done. General trends of
accounting industry which will impact on the accountant has been explained in detail (Long,
2018). Apart from this, the skills, knowledge and experience required in the field of accountant
has been explained in detail which help to enhance for its future growth and for an organisation.
Further more to this, at last the evaluation has been done on the basis of general trends of
accounting, skills, knowledge and experience required by accountant in an organisation for the
growth of the company and accountant.

References
Bhagra, A. and Sharma, D. K., 2018. Changing paradigm of employability skills in the global
business world: A review. IUP Journal of Soft Skills, 12(2). pp.7-24.
Chua, W. F., 2019. Radical developments in accounting thought? Reflections on positivism, the
impact of rankings and research diversity. Behavioral Research in Accounting, 31(1).
pp.3-20.
Dokko, G., Tosti-Kharas, J. and Barbulescu, R., 2019. Bridging micro and macro: an
interdisciplinary review of theories used in career studies. The Routledge companion to
career studies, pp.25-41.
Fidan, T. E., 2019. Vocational identity and career construction in education. Information Science
Reference/IGI Global.
Jackson, D. and Collings, D., 2018. The influence of work-integrated learning and paid work
during studies on graduate employment and underemployment. Higher
Education, 76(3). pp.403-425.
Lindgreen, A. and et.al., 2021. Translating research into teaching. In How to Fast-Track Your
Academic Career. Edward Elgar Publishing.
Long, C. P., 2018. To control and build trust: How managers use organizational controls and
trust-building activities to motivate subordinate cooperation. Accounting, Organizations
and Society, 70, pp.69-91.
Maloni, M., Hiatt, M. S. and Campbell, S., 2019. Understanding the work values of Gen Z
business students. The International Journal of Management Education, 17(3).
p.100320.
Petratos, P. and Faccia, A., 2019, August. Accounting information systems and system of
systems: Assessing security with attack surface methodology. In Proceedings of the
2019 3rd International Conference on Cloud and Big Data Computing (pp. 100-105).
Rashid, M. A. and et.al., 2022. An Overview of Corporate Fraud and its Prevention
Approach. Australasian Accounting Business & Finance Journal, 16(1). pp.101-118.

APPENDIX
Company Guardian Support, United Kingdom
Job title Management Accountant
How did you contact them? Through e-mail
Questions asked & summary
of their answers
As per your perspective, what is the main trend within the
profession of Accountant?
The respondent has answered that artificial intelligence and
importance to data analytic and forecasting tool are the
greatest priorities in accounting profession (Maloni, Hiatt and
Campbell, 2019). Artificial intelligence makes the work easier
and importance to forecasting tool and data analytic creates
job satisfaction among employees.
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