Digital Age Impact:

With technological developments, many digital systems that did not exist ten years ago are now actively used in the accountancy profession.

In the coming years, many transactions made by accountants will be made by artificial intelligence and automation systems. There is increasing demand for accountants who can cope-up with pace that digital age has brought into accounting work.

1. Most of the transactions in business world are now recorded in digital from, whether it is ordering a product or payment to a vendor, filing of tax returns, payment of taxes.

2. Today there is much need

-to use the data that is being generated while such transactions occur for accounting work

-accountants who can handle digital data and convert it into accounting data.

3. Manual accounting entries have been reduced to considerable extent.

4. Accounting work is now needed to be done at a faster pace.

5. Professionals need to equip themselves with tools that can increase their work speed and accuracy.

Future :

Day after day, business owners will start looking for more technological talent in accountants, and in the future half-time virtual accountants will emerge instead of full-time accountants. It is an unquestionable fact that the language of the next generation of accountancy professionals will be digitalization and technology.

In the 21st century, the accountancy profession needs a new model able to respond to technological changes and developments in the process of digitalization and e-transformation so that the accounting profession is more effective. In light of technological developments and changes, this modeling should prepare the accountancy profession for the future by rebuilding from A to Z in fields such as thought, education, culture, and technology.