Question

Technology and Accounting Profession (Big Data)

Answer 1

Accounting technology has always played a part in making the accountant’s job just a little easier. As our knowledge of technology increased so has the accountant’s ability to analyze statistical values. Technology advancements have enhanced the accountant’s ability to interpret data efficiently and effectively. He/she now has the ability to interpret the language of business with such ease that the accountant has become a corporation’s most trusted business advisor.

The top 5 ways we think technology is transforming the accounting industry: the top 5 ways we think technology is transforming the accounting industry:

1. Artificial Intelligence & Robotics
2. Cloud Computing
3. Innovations in Tax Software
4. Mobile Accounting
5. Social Media

Accountants will need to embrace the rapid advances in accounting technology if they want to remain relevant in the accounting industry. This includes staying up-to date with technological trends, optimizing and adapting current accounting software to meet the needs of their firm, and being open to accepting and learning advancing technologies.

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