Innovation in Accounting Research-Free-Samples for Students

Questions: 1.Discuss the future of the Professional Accountant. 2.Disucss about the Advertised position for a qualified accountant in Australia. Answers: 1.The future of the professional accountant Accounting professionals have shifted their primary focus on ensuring that automatically downloaded data are compliant with regulatory as well as tax law requirement. In relation, what does this mean for the future of the profession? To adequately address the question, this section of the paper will in an in-depth analysis analyze significant demographic, social, economic and well as technological trends and forces that are likely to impact accounting and tax profession shortly (Gallery Gallery 2011). Subsequently, it is true to say that the shifting business environment is likely to create new opportunities for the profession. Competition is most likely to intensify as a result of new industry entrants; automation displaces of accounting with particular regards to routine and lower value services (Howieson et al. 2014). Globalization is also an important concept to analyze in regards to the case study. Technically, globalization will require accounting professionals to master cruci al skills that are new to the field, knowledge, and standards as a result of the growing number of clients across the borders. In summary, the next decade in accounting is likely to have the following characteristics: Specialization will lead to increased collaboration among accounting firms both internationally and domestically Many of the services currently provided by accounting professionals such as easily automated services like data entry will disappear due to factors such as outsourcing and automation Accounting specialist over generalists will be favored by growing business complexity, clients expectations, knowledge requirements and legal change. Successful accounting professionals are likely to take on new roles such as consultants and advisors. 2.Advertised position for a qualified accountant in Australia For the advertised Finance Manager position that was most influential, the requirements included: a qualified professional in either CIMA or ACCA, ten years experience in the commercial sector and competency in fields such as corporate reporting and audit assurance. Also, ease when developing PLs, cash flow projects and balance sheets are equally crucial. Sufficient knowledge in great systems knowledge with particular regards to MYOB will demonstrate the ability to formulate and submit quarterly and annual returns, prepare end month finance reports as well as company reviews and support management with margin analytic and auditor liaison (Banker, Chang Cunningham 2003). The position is located in Mount Gambier, South Australia, and the candidates should be preferably Australian citizens living in the regions of South Australia. References Banker, R.D., Chang, H. and Cunningham, R., 2003. The public accounting industry production function.Journal of Accounting and Economics,35(2), pp.255-281. Gallery, G. and Gallery, N., 2011. Advancing innovation in accounting research.Accounting Research Journal,24(3). Howieson, B., Hancock, P., Segal, N., Kavanagh, M., Tempone, I. and Kent, J., 2014. Who should teach what? Australian perceptions of the roles of universities and practice in the education of professional accountants.Journal of Accounting Education,32(3), pp.259-275.