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Guest Blogger Megan: Back to the Future
Guest Blogger Megan: Back to the Future
Wednesday, May 16, 2012 | Roger CPA Review
Megan shares with us the trials and triumphs of CPA Exam preparation, all from the perspective of a non-accounting major. She currently resides in Pennsylvania, and is loving Roger CPA Review's acclaimed review course to prepare for the BEC Exam.
You have achieved your goal! the elliptical at the gym tells me after a 5k trail workout. This is a small goal compared to the undertaking of the CPA exam. I would much rather see those words flash across my Gmail account in an email from the AICPA. This week, as I not-so-patiently await the score of my fourth CPA exam section, BEC, I decided to look up how the profession is evolving. I hope to soon learn that I have passed the CPA exam, and drafting this post has helped me envision what my future may look like once I earn this designation.
Every week I like to pass on some interesting insight into the CPA Exam, the CPA profession, or the life of one CPA candidate. Enough about current CPAs. What about the Future of CPAs? Ive been told by accounting professionals in the last few weeks that technology has actually decreased the demand for accountants. Software has been developed to foot and tie data that CPAs were once employed to audit. Yet, there are many articles in the recent news stating that accountants are in demand. In fact, there appears to be a trend of experienced accountant shortages. Thankfully, technology has improved the efficiency of accountants, but not altogether replaced them!
What else is changing in the field of accountancy? Business practices are ever changing. Recent social media trends have left businesses without a Facebook or twitter presence at a disadvantage. And for those businesses who dove into the pool of social media, there are now needs to evaluate the impact of these marketing plans on the bottom line. Some speculate about the possibility of future CPAs establishing a means of valuing a like on Facebook or a retweet on Twitter. After all, arent CPAs in the business of helping companies make decisions based on facts and data?
Technology and social media are pivotal in a major evolution of accounting, specifically public accounting. Blogging is becoming a major avenue for accounting firms to maintain visibility and client interaction. Social media websites, such as LinkedIn, are utilized to connect and cultivate business relationships. What used to be handled via phone call, is now accomplished through instant messaging or social networking.
What do these evolutions mean for future CPAs? Imagine an engagement where computer software handles typical procedures with hardly any interaction from the CPA. This opens the possibility for much more critical thought and analysis. CPAs will be able to use their creative minds and expected to use their strategic minds to make greater value-added contributions.
Not only is technology spurring change, but globalization is creating demand for multi-lingual, global-minded accountants. CPAs will need to be flexible. They will need to focus on future possibilities instead of historical trends. Although software enables greater efficiency, CPAs must rise to the challenge of being tech-savvy and able to maximize software capabilities. Of course, leadership skills and good old-fashioned smarts will always be in demand, but the evolving business landscape is going to keep us on our toes!
Above all, what will lead to future success in accounting (and life) is passion for your work. If youre currently studying for the CPA exam with Roger CPA Review, then you know what it looks like to be passionate at work. Rogers enthusiasm is contagious and I hope to take it with me as I embark on my career as a CPA.
I hope this blog gave you some food for thought as you study for the CPA exam. If nothing else, remind yourself that this tedious time you are spending preparing for the exam will eventually be behind you, and there is an exciting future ahead full of challenges and growth. Stay focused on the task at hand, and get those exams behind you!