5 Key Accounting Trends That Will Help Your Career

April 5th, 2023

Accounting Trends

When you land an accounting job, your work doesn’t stop there. It’s important to keep learning and growing so that you can move up in your career and earn more money. Accounting is a competitive profession, and to get ahead, you’ll want to be familiar with the latest trends and technologies.

Whether you’re searching for accounting jobs in Jackson MS or hoping to move up with your current company, here are five key accounting trends you need to know.

  1. Data Analytics

Data analytics is a major focus for accountants because they’re required to make responsible financial decisions. In order to do this, they need to understand their data. This is done by choosing the right database techniques and software programs, as well as making advancements in data centers. While data analytics is nothing new, it’s more powerful than ever before.

  1. Automation and AI

There is a new wave of automation happening in the accounting industry. Things like payroll, audits, banking, and tax preparation are increasingly becoming automated, freeing up time for accountants and reducing human error.

Many accounting firms are adopting virtual team members and utilizing artificial intelligence who can help customers 24/7, even when the office is closed. This technology will help accounting firms be more efficient in completing complex and repetitive tasks.

  1. Blockchain Technology

Another technology to have on your radar is blockchain technology. Blockchain is a major trend for accounting, as it helps record and store assets, liabilities, transactions and more in a secure and efficient way. And thanks to blockchain technology, accountants don’t have to worry about paper trails and failure to meet compliance laws.

  1. Outsourcing Jobs

Working from home was a thing before the pandemic, but COVID-19 propelled this trend further. While traditional accounting firms were built around in-house teams, there’s now many more accountants working efficiently out f the office. And with this also comes the need to outsource more tasks to third parties.

Outsourcing has many benefits, including saving on employment costs, increasing profitability, and being able to allocate resources more efficiently. Don’t be surprised to see more accounting firms hiring third parties to handle specific tasks and projects, as well as fill in skill gaps.

  1. Cloud Accounting

Cloud accounting has changed the way accountants work on a day-to-day basis. More than half of businesses have already moved to cloud computing, and all updates, renewals and downloads are streamlined on the cloud. This frees up time for other important tasks around the office. Plus, adopting cloud technology allows accounting firms to be more efficient, secure, and collaborative.

Search for Accounting Jobs in Jackson MS Today

If you’re currently searching for accounting jobs, you’ll want to be aware of these trends and how they affect the profession. The more you know, the better you can prepare for the interviewing and hiring process. Accounting firms like to see that new hires have fresh knowledge and information to help their firm grow!