These days, many accountants are under ever increasing pressure, struggling to adapt to the transformations happening within the accounting field as technology adoption and advancements ramp up.
Technology is becoming increasingly vital to all business sectors and this includes accounting. With the fast pace of technology adoption sweeping through most sectors, many accountants are finding themselves wondering how they can keep up.
Today, many candidates vying for unique and highly-paid, upper-level finance positions come armed with computer science degrees.
Jingjing Sun, a 34 year old accounting graduate could get a financial accounting job fairly easily, but she is looking to move up in finance and for those unique and most well-paid of positions such as analyst, or accounting management, a traditional accounting degree isn’t enough anymore. She could complete short courses to upskill, but is unsure that this would be the best course of action.
"What am I supposed to do, go back and do a computer science degree? To be honest I don't want to [do more study]. But the market is getting tougher," Ms Sun said.
More companies are on the look-out for “full-stack” employees.
Increasingly hi-tech accounting firms are turning their attention to candidates who have a powerful combination of skills and can navigate the technological landscape adeptly. These employees are constantly in-touch with what’s happening in the sector, staying knowledgeable and up to date. They are intuitive and enjoy generating and exploring new ideas and practices.
Lisa Callaghan, founder of Sydney tech-savvy accounting firm, Interactive Accounting, says her advice to budding accountants would be to study computing because these days an accounting degree alone may not be enough to get into the upper-echelons of finance.
Ms Callaghan identifies applied learning & communication skills as the 2 main deficiencies in the quality of younger accounting recruits.