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21st Century Accounting Skills

MB

Mellissa Baecht

Transcript

REFERENCES

Siew, L. (2011, June). The 21st Century Accountant. Retrieved from http://www.accountantkey.com/the-21st-century-accountant

Barry, T. (2005, September). 21st Century Accountants Being Trained to Uncover Fraud, Protect Public. Retrieved from

http://www.bizjournals.com/memphis/stories/2005/09/26/focus7.html

21st Century Skills for Accountants

By: Mellissa Baecht

PROBLEM SOLVING

DIVERSITY

  • GLOBALIZATION – Businesses are now venturing into a borderless corporate world.
  • Accountants must be open minded to new ideas, new technologies, new cultures and the willingness to change and adapt.

COMMUNICATION

  • ANALYTICAL SKILLS
  • Accountants must provide recommendations to decision-makers on strategy and have these supported by detailed financial analysis
  • Accountants must identify areas that are vital to the success of businesses
  • Accountants should have thorough knowledge of tax laws and how they affect the business
  • 21ST CENTURY ACCOUNTANTS MUST HAVE EXCELLENT ORAL AND WRITTEN COMMUNICATION SKILLS
  • ACCOUNTANTS NEED TO BE ABLE TO EXPLAIN HOW A BUSINESS OPERATES AND BE ABLE TO EXPLAIN WHAT ALL THE NUMBERS MEAN
  • BUSINESS OWNER(S)
  • OTHER DEPARTMENTS
  • CLIENTS

Ethics

DIVERSITY

  • GLOBALIZATION – Businesses are now venturing into a borderless corporate world.
  • Accountants must be open minded to new ideas, new technologies, new cultures and the willingness to change and adapt.
  • Individuals in the accounting profession have a considerable responsibility to the general public. Accountants provide information about companies that allow the public to make investment decisions. For the public to rely on the information provided, there must be a level of confidence in the knowledge and behavior of accountants. Ethical behavior is necessary in the accounting profession to prevent fraudulent activities and to gain public trust.

Essential 21st Century

Job Skills

  • COMMUNICATION
  • PROBLEM SOLVING
  • TEAMWORK & INNOVATION
  • ETHICS
  • DIVERSITY

TEAMWORK & INNOVATION

  • Accountants need to coordinate the finance function with other functions of the business
  • Sales
  • Production
  • The field of accounting has seen constant technological and intellectual innovation in recent decades. Firms are implementing new electronic systems for submitting and preparing financial statements
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