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For years, technologists forecast the demise of the accountant. Financial professionals would soon be overtaken by smart software that did all the work that they did much faster and at a fraction of the cost. But that’s not what’s happened. Instead, the demand for accountants continues to grow, outpacing the growth of all other occupations by a significant margin.
The US Bureau of Labor Statistics estimates that growth will average 10 percent for accountants and auditors between 2016 and 2026, much higher than the 7 percent total for all occupations.
The reasons for this growth aren’t entirely understood. But what’s becoming clear is that accountants aren’t just human calculators, performing mathematical operations: their role is much more diverse than that. Today’s accountants need to creatively react to new financial problems and offer their clients solutions. They need to have a vision of future trends and how innovation will affect firms.
Accountants also need a degree of emotional intelligence. An entrepreneur with a failing business requires as much emotional support as he does financial.
The following infographic shows the most in-demand areas for accountants of the future and where you’re likely to end up if you decide to train. One of the most critical areas is investment accounting. Companies and individuals need to understand how to invest, what they can spend, and where to put their money in a tax-efficient manner. Organizations also need risk management specialists.
Take a look at the following infographic and check out all the exciting career paths that a career in accounting offers.
Infographic by University of Alabama Birmingham