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Why Financial Strategy Is A New Necessity For CPAs

How today’s CPAs can get ahead of automation.

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StackCommerce

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clockNov 16 2022, 11:48 UTC
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From science to food and even accounting, every industry is radically changing due to automation and digitization. For the former, services like TurboTax and other automation services have drastically changed how the general public relies on the accounting industry. For CPAs competing with advanced software platforms, it’s definitely worth rethinking your strategy and using today’s tech to evolve as a professional. 

There are many ways in which the accounting field is growing, and anyone building a business needs to understand this. Even the CPA Exam has recently changed to reflect how accountants can use knowledge of automation and tech to improve their services and provide high-level advice to stay relevant and valuable. You can learn a lot more about this by downloading this whitepaper —  The CPA of the Future Is a Strategic Advisor

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This in-depth guide will show you and any CPA how to adapt to the industry's shifting needs and focuses. To help get you acquainted and up to speed, you can check out the whitepaper’s summary of the major 2021 CPA Exam changes. This guide breaks down the major sections of the test and goes in depth on how to prepare for them. The subject areas include Regulation, Financial Accounting & Reporting, Business Environment & Concepts and Auditing & Attestation. 

When aspiring accountants and existing ones go through these breakdowns on how the value of the CPA is transforming, they can explore specific examples of the areas of focus that are more tech-friendly versus those that require more of a human touch. For example, some of the more automatable services listed include revenue management, cash disbursement and general accounting operations. Conversely, risk management, external relations and business development are more challenging to automate. 

This whitepaper comes courtesy of Oracle NetSuite, which maintains an impressive rating of 4 stars out of 5 on Software Advice and 4.1 stars out of 5 on Gartner. This well-established source is proven in its ability and context to show CPAs how to keep up to date in this fast-changing field. 

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For CPAs trying to navigate this industry change, download this whitepaper — The CPA of the Future is a Strategic Advisor — to stay current and in the know.

This article includes sponsored material. Read our transparency policy for more information.


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