The evolution of accounting: new careers in the language of business
Numbers span all languages and cultures, creating what is recognized as the language of business: accounting. The earliest accounting records date back thousands of years to the use of an abacus, a rudimentary counting tool. As the workplace has progressed, so has the part of the accounting skilled. This has been specifically evident in recent years the integration of technologies in accounting has produced a lot of specializations and job opportunities inside the field &ndash from forensic accounting to health care IT auditors.
According to the U.S. Bureau of Labor Statistics, accountants, auditors, financial bookkeepers and clerks rank among the leading 25 occupations in the nation &ndash and the employment of accountants and auditors is expected to grow 16 percent by 2020. This escalating diversity of profession paths and the vibrant employment future are attracting several specialists to a profession in accounting.
&ldquoAccounting is an exciting, expanding field going beyond classic corporate and public accounting the evolution of technology’s part in the field has allowed new concentrations to emerge,&rdquo says Sarah Engle, professor of accountancy in the College of Enterprise and Management at DeVry University and owner of Black River Tax Prep. &ldquoTechnology has expanded the standard boundaries connected with the profession. Mobile devices and cloud computing, for instance, permit tiny and mid-size accounting firms to broaden their reach to clientele worldwide.&rdquo
The need for accountants with specialist specializations is on the rise. The demand for forensic accountants, for instance, has expanded with the fallout from higher-profile financial scandals like Enron and Lehman Brothers. These accountants focus on disputes or litigation in civil or criminal law and frequently investigate corporate and securities fraud, insurance and individual injury claims and computer fraud. The Federal Bureau of Investigation (FBI) has adapted by adding forensic accountants to its roster of permanent positions. According to analysis by the American Institute of Certified Public Accountants (AICPA), the prime 3 characteristics for a forensic accountant to possess are analytical, detail oriented and ethical.
Environmental or “green” accounting is also a developing field. With sustainability and environmental protection becoming a lot more prominent objectives in right now&rsquos organization planet, green accountants will be employed to aid leaders make much more informed decisions. Accountants with experience in each standard accounting and numerous environmental technologies are necessary to supply a far more complete analysis of the future expense of enterprise.
&ldquoToday&rsquos accountants require a widened skill set, learning and leveraging both difficult and soft capabilities,&rdquo says Shanae Bond, a employees accountant at Macy&rsquos and alumnae of DeVry University&rsquos Keller Graduate School of Management. &ldquoFor example, I use both basic accounting principles and economics every day as nicely as crucial pondering and buyer service capabilities.&rdquo
There are varied educational paths for accountants, but most positions call for at least a bachelor’s degree. Numerous professionals in the field decide on to earn a master&rsquos degree and certification, such as becoming a Certified Public Accountant (CPA), to enhance their resume and marketability.
DeVry University, for example, is assisting to meet the demand of this booming industry by providing numerous bachelor&rsquos degree programs that can lead to an accounting profession. Courses such as expense accounting, ethics and fraud, and accounting details systems permit students to gain insight and experience that will translate in the functioning planet.
The language of business has evolved. Future generations of accountants will have a lot of diverse possibilities if they are well-educated and possess the expertise needed of these days&rsquos organization world.