Industries worldwide have automated and digitized, while others are increasingly moving in that direction. This, of course, has radically changed the accounting world, especially with so many of the services we used to rely on CPAs for now being automated and accessible to everyday people. For example, it’s far easier in the digital age to do taxes on your own with services like TurboTax.
The field is organically evolving for CPAs, and if you want to continue to build your business, you need to grow and expand, too. The CPA Exam is changing to reflect the field’s changing needs, and industry trends show that strategy is where accountants’ knowledge is best utilized today. To learn more, check out this whitepaper on how The CPA of the Future Is a Strategic Advisor.
An expert guide on how new and existing CPAs adapting to the changing landscape can approach the future of accounting. It includes a summary of the major 2021 CPA Exam Changes. In addition, it goes in-depth on the four sections of focus — Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation.
The whitepaper features relevant breakdowns of how the industry’s focuses and needs are shifting. For example, one table breaks down typical CPA activities based on how automatable they are. More automatable services — i.e., general accounting operations, cash disbursement, and revenue management — stand in contrast to those categorized as “difficult to automate,” like business development, external relations, and risk management.
By looking closely at these metrics and the shifting needs and values placed on CPAs, working professionals can learn a lot to inform future operations. In addition to metrics, the paper is rich with straightforward insights and breakdowns, like this quote that reads, “Instead of being mired in numbers, CPAs are now expected — and will increasingly be expected — to have a broader strategic vision offering high-level advice and critical thinking relevant to today’s economy.”
This whitepaper available to download comes from Oracle NetSuite, which is rated 4.1 stars out of 5 on Gartner, and 4 stars out of 5 on Software Advice. So you can trust that its advice on topics like data adeptness, strategic thinking, and partnering with technology comes from well-educated sources.
For CPAs trying to navigate this industry change, download this whitepaper — The CPA of the Future is a Strategic Advisor — to stay up-to-date and in the know.