• Best of luck to the class of 2024 for their HSC exams. You got this!
    Let us know your thoughts on the HSC exams here
  • YOU can help the next generation of students in the community!
    Share your trial papers and notes on our Notes & Resources page
MedVision ad

To future accountants. (1 Viewer)

mysterymarkplz

Active Member
Joined
Nov 30, 2013
Messages
235
Gender
Male
HSC
N/A
from what i understand, don't accountants still provide financial advice and risk advisory? Those things can't be done by a computer. I am guessing maybe external audit and bank reconciliations can be dealt with a computer.
 

Jinks

Active Member
Joined
Jul 9, 2012
Messages
668
Location
Melbourne
Gender
Male
HSC
2010
A lot of what gets described as "accounting" is in fact "book keeping". I'd argue that most jobs that have some sort of advisory role are pretty safe.
 

Drifting95

Should i change my DP?
Joined
Mar 14, 2012
Messages
3,160
Location
Point Piper
Gender
Male
HSC
2013
A lot of what gets described as "accounting" is in fact "book keeping". I'd argue that most jobs that have some sort of advisory role are pretty safe.
I was going to mention this. All the smart jobs in the field will stay, calm down future acct grads :lol:
 

ilikecats

Meow meow meow meow meow?
Joined
Oct 10, 2012
Messages
1,109
Location
Sydney
Gender
Female
HSC
2011
Uni Grad
2017
I'd like to point out that this is a US site, and in particular, it seems the US does not nearly have as much electronic processing as we do here. Tax especially, we have pre-filling/e tax etc. From what I understand, the US tax system is not nearly as electronic based as ours.

There will no doubt be more automation in most aspects of our lives, you'd be an idiot to deny that. But no to people or business' are the same.

I mean if you can find a way to eliminate cash receipts, signatures and meetings between people, entries doubling up and not being recognised due to variations in descriptions, boxes that have to be manually checked to ensure the correct value and basically creating true AI to perform many of our jobs, please go ahead.

But until you can do that, accounting is just moving away from paper based tasks to more electronically driven ones, as with pretty much every industry.


At this stage we are all just better off mixing up our skills. That's why I'm studying IT as well now. At least if the computers begin to take take over I'll have a slight advantage over our office admin who couldn't figure out she'd knocked out the power :)
 

ilikecats

Meow meow meow meow meow?
Joined
Oct 10, 2012
Messages
1,109
Location
Sydney
Gender
Female
HSC
2011
Uni Grad
2017
A lot of what gets described as "accounting" is in fact "book keeping". I'd argue that most jobs that have some sort of advisory role are pretty safe.
I was going to mention this. All the smart jobs in the field will stay, calm down future acct grads :lol:
Anyway, book keepers still deal with cash. Computer's can't know you've spent cash until you tell them! :p
 

Omnipotence

Kendrick Lamar
Joined
Feb 7, 2009
Messages
5,327
Location
Sydney
Gender
Male
HSC
2011
Uni Grad
2016
Yep the use of advanced data analytics has automated the accounting industry, notably with tax compliance and book keeping. This doesn't mean that you won't have a job in accounting in the future, the nature of accounting at the professional services firm will change from compliance to consulting. There's a reason why the Big 4 have been making inorganic acquisitions of consulting firms.
 

enoilgam

Moderator
Moderator
Joined
Feb 11, 2011
Messages
11,888
Location
Mare Crisium
Gender
Undisclosed
HSC
2010
Im not an accountant, but I was always under the impression that the vast majority of their work involved advisory/strategic stuff. I think the stuff that article discusses relates more to bookkeeping (journal entries etc) which are usually done by lower level staff, not full fledged CAs/CPAs.
 

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top