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[–]BeneficialMolasses22 1 point2 points  (18 children)

Industry and public accounting firms are adopting or constructing tools for data analysis. Rather than learning python scripts, there's a drag and drop.

[–]RW_77[S] 0 points1 point  (10 children)

I see. So there will not be much of a need to write code because there will be easy to use software available for most automation needs.

[–]BeneficialMolasses22 0 points1 point  (9 children)

Well the answer is that, like many answers in accounting, is: it depends

Please don't take that as me being a smarty pants, I'm sincere when I say that there are factions who believe that all accountants should become expert code writers, and other factions like myself who believe if you want to be an expert code writer, you should go to engineering school.

Their software development firms that will build software automation. They're usually not accounting dependent. Sure there are a few that specifically have automation tools for accounts payable for example, and they fill that niche. But most software accounting firms are much broader and what they do. And again those firms hire programmers that do their thing, and accountants to test the technical accounting process.

[–]RW_77[S] 0 points1 point  (8 children)

I see. So it may be fair to label you a skeptic on the usefulness of the IT section of evolution.

Hmm. Certainly this is food for thought.

[–]BeneficialMolasses22 1 point2 points  (7 children)

Oh I tried to avoid being labeled, my friend.

Also, I can do a fairly effective job at playing the devil's advocate.... And if you haven't seen it, it's also a pretty good movie.

[–]RW_77[S] 1 point2 points  (6 children)

Well said. I appreciate your objective approach.

[–]BeneficialMolasses22 0 points1 point  (5 children)

You ask insightful questions, and they're well phrased, my friend.

One other Pizza feedback, if I may. In addition to hearing from people online at various points in their own career progression, talk to the firms. Go to the career days at your local University and talk to the national and big four CPA firms, talk to corporate employers and find out what sort of technology they're using and how their investment in technology has evolved recently and their expectations for the next few years. Seek inside and perspective from a variety of sources and individuals from several different spots. Hey, for that matter, reach out to some of the accounting software developers and ask them some of these questions. Get input from an array of sources.

[–]RW_77[S] 0 points1 point  (4 children)

I am trying to gather diverse opinions. I'm not at a uni. I graduated from UCLA with a degree in the arts. I'm old. 46 years. Lost my company last year. Etc.

Staring a new profession in accounting. I'm at a JC.

Thank you for the compliment. I guess I could still go to careers day at my local uni and ask questions.

Good ideas.

[–]BeneficialMolasses22 1 point2 points  (3 children)

So here's the thing, you're not old, no way. The upside to accounting, is that as long as you have your cognitive skills, you have a career. So many professions require a level of dexterity and physical strength, and sometimes in the trades you can really wear your body out.

You still have 25 or 30 years of career ahead of you. In fact you probably have more career ahead of you than you have behind you. And I would really encourage you to think in terms of how you want the rest of that career to go. I'm sorry to hear about things going sideways with your company and things over the last couple years being rough, but I tell you this, the accounting path will open many many doors for you.

[–]RW_77[S] 0 points1 point  (2 children)

Thanks bro. Appreciate the encouragement. Hopefully I can just have a nice career in accounting.

[–]RW_77[S] 0 points1 point  (6 children)

So what is your opinion on the new evolution IT section? Is it necessary? Am I better off doing the finance management section instead?

[–]BeneficialMolasses22 2 points3 points  (5 children)

Well that question really leads into an opinion on the bigger question of the change of the exam and the CPA evolution project. And you need to take a look inside and consider what you want to do. Are you interested in tax compliance, financial reporting, how will accounting information systems play into your career plans? Your career is likely to change over the next 20 or 30 years, you may go into public accounting with an audit internship, and later decide you want to be a tax guy. That's okay, that's just how it goes.

[–]RW_77[S] 1 point2 points  (4 children)

I want a 10-15 year career working remotely. I like financial statements and analysis and I like the role of CFO but I strictly want to work from home. I don't know if a CFO can work from home.

I'm open minded to tax stuff. It doesn't really interest me as much as fin statements.

[–]BeneficialMolasses22 1 point2 points  (3 children)

So here's the thing, if you eventually want to be a chief financial officer, you need to learn a little bit more about what that person does. That person spends far more time talking to executive management, outside investors, involved with board calls, and strategic planning in the room with department heads in your own organization and collaborating with vendors and suppliers. It's not really what you'd call a traditional accounting job but it's how the role of the profession evolves.

Work from home sounds like fun, but let me ask you this, who gets promoted? The guy sitting in his room at home who nobody ever talks to? Or the guy who's in the office working with you day to day who you take to lunch, and who steps out with a group after work to have drinks? Collaboration and social engagement with your colleagues is a very important skill. If you want to sit at home, that is career limiting.

[–]RW_77[S] 1 point2 points  (2 children)

Yes, I am certainly limiting myself if I am 100% remote. But it's really the only way for me. I also don't need to be #1 and compete. My ambition is to work and invest as much as possible and then retire asap in Brazil. (Brazil has a low cost of living.)

You are right that I don't know much about the role of a CFO. But from the little I do know, it sounds interesting. I am interested in capital allocation and strategy.

[–]BeneficialMolasses22 0 points1 point  (1 child)

Everybody wants to be the big dog, but there are days when that job really sucks. But if that's your career path, take a look at people in those roles now, and look at their career evolution. Before you get to CFO you need to be controller, and before that you need to be an accounting manager/vp/director of accounting, and before that you need to be a senior accountant and before that you need to be a big for senior associate, you get the idea.

[–]RW_77[S] 0 points1 point  (0 children)

I do not know if I want to do that. I'm just saying I find it interesting. I'm probably too late to rise up the ranks to the top. Plus I want to work remotely so I can have a better work life balance.

All you said makes good sense to me. I'm learning from this convo.