This article is written to not only give assurance to students who are planning to study accountancy but to also provide some tips of what they must do to stand out from the crowd.
I overheard two teenagers during the just concluded Easter holidays having conversation about what course to study at the university and what not to study at the university. One of the teenagers strongly opined that he would never study accountancy as doing so would not help him realize his dream of making impact in life.
My heart melted upon hearing this. So I quickly and politely joined the conversation just to clear the minds of these young teenagers. My intention was clear – pass the message that we can make impact in any endeavour as long as we equip ourselves with the right tools and information.
I might be biased in choosing the title of this article (this is purely because I am an accountant and the fact that one of the persons in the conversation cited accountancy as an example).
Just like every other calling, profession or vocation, one can be whatever he or she wants in life with accounting degree or certifications. The importance of accounting cannot easily be swept under the carpet. And the demand for accounting services would continue to be there. We just need to be a future ready accountant in order to be accommodated in the fast moving train of accounting profession.
First things first, let us refresh our memory on what accounting really is by proffering brief answer to the question below.
What really is accounting?
I have written an earlier article on the meaning of accounting where I discussed in detail what accounting is. However, for the purpose of today’s discussion, a working definition for this conversation is in order. Hence, accounting in this context is an indispensable value add task performed by skilled finance professionals for the benefits of all associated parties to an entity. There is no venture that exits where accounting of any sort is not required – no matter how hard people try to deny this fact.
What do I stand to gain by studying accounting?
A lot!! Accounting is an evergreen profession that metamorphoses to suit any prevailing reality. The first out of the box gain that you get is the respect that comes with being associated with this great medieval noble profession called accountancy.
Will I become famous by studying accounting?
This is relative. It all depends on what you mean by becoming famous. The society is designed in a way that people that chose to toll the path of intellectual property don’t really become celebrities – a shame but a fact that we have to live with. Oh! I almost forgot the father of double entry – Luca Pacioli (1447 – 1517) who was not even originally an accountant, but hey, he is just famous amongst the accounting and mathematics faithful.
You are really bent on becoming famous in accounting, maybe you blend accounting and politics to become the accountant general of your country.
Will technology not make me redundant as an accountant?
I still remember my days in the university studying accountancy when during a course in accounting information systems, the debate of the future of accounting as a profession was the topic of debate. It was eventually agreed by the judges that business technologies will not make accountants redundant so long as the accounting profession continues to revolve in line with the prevailing technological realities. Many years have passed and we still have accounting as a force to recon with. In fact, the line between the CFO’s role and that of technologists is continuing to become blurred as technology advances.
How to be a future ready accountant
There are lots of things that experts have unanimously concluded that every serious minded accounting and finance professionals must do in order to be a future ready accountant. I have written some articles in the past that I encourage you to read by following the links below;
How can I become a hybrid accountant? Skillsets of generation next accountants Soft skills of accountants How can I become a forensic accountant? Chartered Accountant, what next? forensic accountants skills Street wise accountants
ESG and accountants
Many consider Environmental Social and Governance (ESG) as a buzzword that may not really live up to expectation. But, I think that ignoring ESG as an accountant will not do any current and prospective accountant any good. Climate change is real irrespective of what many politicians are telling us.