Why Accounting certification is important!

Jeff Thomson, CEO of the Institute of Management Accountants, discusses why certification is essential for accountants — even those with a MBA.

The article provides an excellent overview of the different certifications available to accountants.

https://www.forbes.com/sites/jeffthomson/2019/08/12/an-mba-is-still-relevant-but-a-certification-can-provide-differentiation/#471eaa962bf1

Calculator, pen and papers

The accountant of the future

At the recent AICPA conference, much of the discussion focused on what skills the accountant of the future would possess. There are two major changes happening in public accounting — technological disruption and a move to more advisory services.

These two changes require more diverse skills than ever before. Many of the skills are beyond the traditional CPA.

One of the primary skills that will be needed in the future is the ability to continuously learn.

“There will be a need to learn, unlearn and relearn… it’s the thought of futuristic literacy moving forward–not to read and write but the ability to unlearn so you can relearn, and the general awareness of all these activities for everyone. If you’re trusted advisors, you need to know the implications of these shifts–of both the wide knowledge and capabilities for a narrow knowledge.”

With these changes, the certifications will need to evolve. Possibly different types of certifications will be needed beyond the CPA.

To see the remaining summary of the conference, go to

https://www.accountingtoday.com/news/the-accounting-professional-of-the-future-non-cpas

In my opinion, as students start to focus on graduation, certification needs to be a focus. No matter the certification — CPA, CMA, CFE, or CISA, those initials will matter and could be a difference maker.

Keeping Up: IMA releases new Competency Framework

The field of management accounting is constantly changing. The IMA helps provide the right tools for its professionals to keep up to date.

The organization released a new Statement on Management Accounting that looks at its new Competency Framework. The updates include skills that professionals need to be up to date in the digital age.

You can find the full report here: https://www.imanet.org/insights-and-trends/the-future-of-management-accounting/ima-management-accounting-competency-framework?ssopc=1