How is accounting going to change?

Traditionally financial management has been mostly about keeping an account of everything that is going in the firm. It has been important so that the managers know how the money is spent and how the company performs. All the accounting has been done in physical form like books. Accountant’s main job was to produce these numbers. In the late 1900 people got an idea of a paperless office, where most of the paperwork is moved to computers so that it is easier to store information and it takes less space. In the beginning of 2000 century the accounting software was so advanced that we could start talking about electronic accounting. Most of the financial data is in electronical form so that it is easy to manage from where ever you are. The latest trend with the subject is digital finance where all possible information is automated. Automation lowers the need for human recourses, eliminates human mistakes and generally makes everything more efficient. Different sectors of financial management can work more smoothly with each other.

 

So with all this electricity and automation where will the accountant work future? It is a good question worth thinking about. I think that since accounting is automated and all key figures can be generated so easily and quickly the main job off at financial management department is to analyze these figures and think how the company can perform even better. So the analyzing skills will be much more necessary since most of the workers at financial management are going to be accounting specialists rather than traditional accountants.

 

Sources:

Lahti, S. & Salminen, T. 2008: Kohti digitaalista taloushallintoa. Sähköiset talouden prosessit käytännössä. WSOY, Helsinki.

Ikäheimo, Seppo, Lounasmeri, Sari & Walden, Risto 2011. Yrityksen laskentatoimi. Helsinki: WSOYpro

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2 Responses to How is accounting going to change?

  1. roopekantola says:

    Good job at highlighting some important and interesting concerns and inevitabilities!

  2. immosenniko says:

    Interesting topic and well written text. Let’s see what futute brings

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