Michael Gossie, Editor-in-Chief, AZ Big Media, recently wrote about how a career in accounting provided great career options for many young professionals. Randy G. Brammer, CPA, discussed the impact of technology and Michelle Flynn, CPA spoke about changes in the accounting industry.
“Technology is automating the repetitive and mundane tasks that have made accounting less attractive for young people,” says Randy G. Brammer, CPA, managing partner at Wallace Plese + Dreher. “This trend has partially risen out of necessity as resources decline, but also out of the need to drive efficiency and innovation in the industry.”
Brammer says the demand for accounting-related professional services, combined with technological innovations, is providing significant career opportunities for young professionals.
“They can quickly advance beyond boring, repetitive tasks early in their career, and begin engaging in work that is impactful to clients and helps build their marketplace value at a faster pace,” he says.
But while technology has enhanced the profession, experts say it will never reduce the need for skilled players in the profession.
“Technology has come a long way, but most software cannot replace the need for human judgement,” says Scott Hitchler, owner of Saguaro Wealth Management. “There will always be a need for skilled workers.”
Now, facing a shortage of skilled workers, the accounting industry is adjusting the make room for those employees who want to make an impact on the dynamic profession.
“Accounting firms have become more flexible with hiring and retention decisions,” Brammer says. “There is no longer a one-size-fits-all, up-or-out atmosphere. We are embracing part-time, remote and return-to-work candidates to strengthen our capabilities.”
The industry is also embracing those without advanced degrees.
“Accounting is the language of business,” says Michael T. Allen, CPA, principal at REDW. “If you can understand the language, you can be a great resource to whatever organizations you’re associated with.”
Allen says training can come from a simple high school degree supported by years of experience up to — and including — obtaining your CPA license.
Flynn says accounting firms are recognizing that they cannot continue doing the same thing they did several years ago. That approach is attracting a new generation of accounting professionals to firms that are reimagining themselves.
“Techniques for growing and sustaining a firm have changed,” Flynn says. “To continue the public accounting profession, firms will continue to embrace more technology and tools to decrease required hours that built past firms. We want to spearhead this change and be the leaders in this approach.”
Flynn’s company has been an innovator when it comes to building an accounting firm that values work-life balance as much as it values crunching numbers.
“Technology has expanded my ability to have dinner with my family, take my daughter to dance classes, or sons to baseball,” Flynn says. “At night, I catch up on emails or complete a consulting engagement. I schedule client meetings while still reserving time to attend my children’s activities.”
While it will always be challenging to balance career responsibilities and family commitments, accounting has evolved into a profession that makes that challenge very attainable, all while building a lucrative long-term career.
“Accounting is both the foundation to understanding business and the language of business,” McLane says. “Helping others to understand the inflows and outflows of their business model and the future impact of their decisions is very fulfilling. Being part of the accounting and finance function allows you to be part of the decision-making process for all businesses. With accounting as your foundation, you can work in any industry.”
And, experts say, the sky is the limit in today’s accounting sector.
“There’s a lot of opportunity in public accounting,” Flynn says. “You really can jump in. As much as you want to learn, you can learn. And as fast as you want to move up, you can move up. That’s exciting. That’s why people come to work at Wallace Plese + Dreher.”
Below is an excerpt of that article. The entire article can be found here.
Accounting Careers Accounting Services Careers Michelle Flynn, CPA Randy G. Brammer, CPA Workplace culture