New technologies are making it easier than ever for small and even medium sized businesses to handle their accounting with a small amount of experience in the industry. Why should a student choose to pursue a career in accounting when it seems like new technologies are taking away so much of the market potential?
The Future of Accounting
With new technologies swarming the market every day, it seems like today’s traditional accounting will turn into tomorrow’s financial advisor. Despite small businesses managing to balance the books, they still need to, for example, understand how to get all the tax benefits they can. They are also in need of a person who is constantly updated on new policies and trends that will affect the businesses as they want to scale.
“The US Bureau of Labour Statistics predicts a 10% growth in the demand for accountants and a 19% growth in the demand for financial managers until 2026” (BizCommunity, 2019). As the demand grows, accountants need to be flexible to change from the old standard to survive in a rapidly changing market.
About the Degree
This degree focuses on combining traditional accounting skills with new technologies. This includes aptitude in basic financial transactions, QuickBooks, journal entries, financial statements, subsidiary ledgers, charts and accounts, reconciliations and receivables, and automated general ledgers. At Ensign College, you can choose to pursue a certificate or bachelor's degree in accounting.
Certificate in Accounting
"Accounting provides a universal base that allows students to speak the language of business. A functional understanding of QuickBooks gives students proficiency in the leading software of the profession."
This degree is ranked fourth in the Bureau of Labor Statistics' list of top-10 associates degrees in accounting (Accounting.com, 2020). There are different ways to get the degree - a certificate only approach, or starting in Fall 2021, you are able to apply for a bachelor's degree in accounting.
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Bachelor's Degree in Accounting
Starting Fall 2021, Ensign College will be offering a bachelor's degree in accounting. If you have existing coursework, you can schedule an appointment with your advisor to see how this can be applied towards a bachelor's degree.
Thoughts from a Professional
“Technology based bookkeeping systems will replace the low-level accounting and bookkeeping functions over time as they have been doing for the past two decades, but the complexities of tax laws, new product delivery channels and rapid technological changes will make accounting expertise even more needed for niche businesses.”
Wayne Tew, CPA - Retired President/CEO, Clark County Credit Union, Las Vegas. Co-Founder and Owner Ultimate Collision Centers, Las Vegas
For more information about the certificate, visit here .
Accounting.Com. 2020. Retrieved from: https://www.accounting.com/degrees/accounting/associate/best-programs/#best-online-programs
BizCommunity. 2019. What will the accounting profession look like in 5 years? Retrieved from: https://www.bizcommunity.com/Article/196/511/188332.html