The added value professionals
Accountants traditionally have been historians, recording what the company did and then comparing it to previous years. Now the Internet and the new economy are transitioning business into real time. It is more important for them to know what will happen tomorrow than it is for them to know what happened yesterday. Today accountants are asked to consider past company performance alongside the continuous changes of the economy and marketplace to strategically position the company for success tomorrow.- Olivia Kirtley, former chair, American Institute of Certified Public Accountants(Next Generation Accountant Research by RHI Inc., 2003)As organisations continue their businesses in the new millennium, they will have to make significant changes to the way they operate because of increasing globalisation and the rapid advancement in technology. Corporations of various sizes are inevitably brought together in the global market. To survive in a more globally competitive environment, companies have to test themselves for radical changes in their business operations. This paper describes the changes taking place in organisations regarding their business operations and the challenges accountants and students will have to face as a
Professional skills are of significant importance for accountants to behave ethically according to a basic code of moral behaviour and specific professional code of conduct and to deal upon professional standards of quality managing projects and personal time Nonetheless, traditional skills should be kept as fundamental requirements for future accountants and should understand the nature of business. Computer can already carry many of the routine aspects of an accountant's work out more efficiently. Employers will be less able to offer long-term job security and will use a mixture of permanent, contract, part-time and temporary staff to serve their business as cost effectively as possible. Some companies might even find it effective to outsource entire departments, such as accounting, to low-cost regions of the world. As organisations steer towards globalisation, information regarding the product-line, regional markets, competitors' resources and so on is important to help management make decisions in developing products or services and extending company's reach to more new markets. These changes to the world economy and environment are also increasing the pace at which leading companies internationalise their operations and to extend their presence in key world markets. With the enhanced features of the E-commerce infrastructure, users will be more willing to make their purchases over the Internet. Many employees will be looking for flexible employment options in terms of hours worked, career breaks and work location to meet changes in lifestyle. Technology will also have an effect new work patterns to appear. As Cooper (2002) has cited John Brockwell, Past President of ACCA, The professionals who will add greatest value are those whose minds are open, who can interpret, understand and communicate the meaning of numbers, who thrive on challenges, who relish the opportunities for lifelong learning and who embrace change.
Common topics in this essay:
Internet Technology,
Globalisation Communications,
Hart Ghosh,
RHI Inc,
,
Wide Web,
President ACCA,
Half International,
Chartered Accountants,
Olivia Kirtley,
information technology,
products services,
world economy,
november 2003,
business operations,
barriers trade services,
competitive pressures,
competitive advantage,
barriers trade,
future accountants,
organisations transact customers,
chartered accountants,
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Acceptance Essays
