ACC700: Future Tech Impact on Accounting Skills, Ethics & Careers

This report examines the impact of technological innovations, such as artificial intelligence and accounting software automation, on the accounting profession. It delves into how these advancements affect the skills required of accountants, the ethical considerations they face, and the career opportunities available to them. The report emphasizes the importance of accountants adapting to new technologies to strategize effectively and contribute to business growth. It also highlights the difference between accountants and certified public accountants (CPAs), stressing the need for proper knowledge and certification for those pursuing a career in accounting. The analysis concludes that the infusion of digital technologies is revolutionizing the accounting industry, making it easier for accountants to interpret data and contribute to organizational success. The report also references several articles to support its arguments.

PRINCIPLES OF ACCOUNTING

INTRODUCTION
 Accounting is a system where all the financial
transactions are timely and accurately
recorded
 Accountants are assumed as professionals
for they are practicing such an honourable
profession
 Increase demand for the accounting
professionals has been improved because of
the government regulations and the
expanding business opportunities in the
industry (Henry & Hicks, 2015).

CURRENT AND FUTURE TECHNOLOGY, ACCOUNTANT
SKILLS AND ETHICS AND CAREER OPPORTUNITIES
 The accountant and the finance professionals are
the people who will be able to strategize the new
information and grow their business
 Because of the vigorous and diverse nature of the
business industry creation of the value of the
investment has become a very challenging and
difficult task for the accountants (Andon et. al,
2015)
 The accounting and finance functions are highly
related and automated

INFORMATION THAT SURPRISED THE GROUP
 huge difference between the accountant and
a certified public accountant
 The accountant star not provided with proper
certification or license but they can perform
limited tasks that may help the firm to
prepare the financial statements in a proper
manner
 The people who want to pursue their career
in accounting should have proper knowledge
of the industry in order to become and CPA

GROUP OPINION
 Accounting is the essence of every
organization
 It is accepted by almost all the
finance/marketing/strategy professionals
worldwide that the absence of accounting is
an obstacle for an organization in its course
of business operations (Guthrie & Jones,
2012).
 Accounting it the most legitimate and
significant reason behind every successful
organization (Gold, 2009)

CONCLUSION
 Revolution in the accounting industry on
account of infusion and implementation of
digital technologies
 Evaluate statistical values
 Easier for the accountants to interpret
efficient and effective data

REFERENCES
Andon, P., Free, C. and Scard, B. (2015) Pathways to accountant fraud:
Australian evidence and analysis. Accounting Research Journal.
[online]. 28(1), pp.10-44. Doi:
https://doi.org/10.1108/ARJ-06-2014-0058
Guthrie, C. P., & Jones, A. (2012) Job Burnout In Public Accounting:
Understanding Gender differences Journal of Managerial Issues.
[online]. 24(4), p.390-411. Available from:
https://www.questia.com/library/journal/1G1-330802219/job-burnout-i
n-public-accounting-understanding-gender
[Accessed 26 May 2018]
Henry, B. and Hicks, M., 2015. A Survey of Perspectives on the Future of
the Accounting Profession. The CPA Journal. [online]. 85(8), p.6.
Available from;
https://www.cpaaustralia.com.au/~/media/corporate/allfiles/document
/professional-resources/education/shaping-the-future-final-report.pdf?l
a=en
[Accessed 26 May 2018]
Gold, L. (2009) Becoming your own boss (Unabridged) Opportunities
abound for young CPAs venturing out on their own. Accounting Today.
[online]. 23(18), 1-45. Available from:
https://files.eric.ed.gov/fulltext/EJ1055009.pdf [Accessed 26 May