5 Current Trends in the Accounting Field
Accounting technology has always improved to make crunching numbers easier and more accurate. From the abacus to the calculator to the computer program, each iteration has helped take the calculation burden off the accountant, giving them more time to consider theory, ethics and business practices. With GCU’s Bachelor of Science in Accounting, you’ll learn that accountants aren’t just people who figure out the taxes, they’re people who can guide companies into secure financial futures.
And today, the trends in accounting are supporting that goal more than ever.
Here’s What’s Hot In Accounting:
1. Automatic Data Entry
Automating data reduces costs and errors. It frees up members of the finance team to work on critical, future-forward projects, rather than entering data manually. Apps and software can help small businesses pay and send invoices after just a short time for set up.
2. Mobile Connectivity
People are using their phones for everything, except calls. Accountants are making themselves available via text and instant messaging. They’re able to use screen share and video conferencing to reach their clients. This means they can work with people who can’t make it into the office, but still want an accountant who is up on the latest trends.
3. Embracing Micro Industries
Entrepreneurship is on the rise and people want to work with others who understand them. Small businesses and solopreneurs are turned off by accounting software and sites that have too many options and that seem tailored to big businesses. They want to work with accountants who understand their niche and who know their industry. These accountants offer tailored packages and a menu of services; one-size doesn’t have to fit all.
4. Understanding Big Data
It’s not everyone’s favorite topic, but big data gives accountants insights into their clients. The more they’re willing to work with analytics, the better they’ll get at staying on top of trends and being able to offer clients the best solutions.
5. DIY Learning
The internet is full of self-help and educational materials. Tax prep and accounting software is getting really easy to use. Clients don’t necessarily need accountants anymore. That means, accountants need to step up their practices and use the technology to their advantage. This could include offering clients classes on how to use software or becoming a mentor and helping businesses understand what the software data really means.
If numbers and analytics are your thing and you’re all about helping the future generations of business owners and entrepreneurs, Bachelor of Science in Accounting at Grand Canyon University is just the program to help you launch your career.
To learn more about how Grand Canyon University’s Colangelo College of Business provides accountants with the best tools to meet and exceed the financial needs of the future, visit our website or click the Request More Information Button on this page.