Is accounting threatened by AI?
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Anonymous
Maybe. Not accounting but my workplace is instituting some basic computer automation. It's not foolproof though and does require a person to analyze the results. Perhaps one could argue AI is still in its infancy but I think full take over is still a while away. |
Anonymous
| I'm a CPA in industry. I would major in finance, because if it isn't AI, outsourcing to a 3rd world dump is going to take jobs away. |
Anonymous
My son is an accounting major. Sometimes I read the Reddit accountant threads since it’s an unknown field to me. I read many threads about new graduates having a difficult time finding an entry level position due to outsourcing. Those with a few years experience start job hopping and have better luck. I’m a little nervous for him. He does not go to a finance target school; do you still recommend finance as a major? He thought accounting was safer and more marketable although he’s interested in finance too. |
Anonymous
That’s true of most generations. |
Anonymous
| We were supposed to have flying cars by now, too. |
Anonymous
Why hasn’t that happened yet? |
Anonymous
My kid was a finance major and switched to accounting after not getting a finance internship. He did get an accounting internship at an accounting firm, it went well, and he is now pursuing a CPA (after first getting a masters in tax to meet the credit hour requirement and to learn more about tax, which he says he wants) |
Anonymous
| The US tax code is such a 💩-show that we will still need accountants for a long time. |
Anonymous
Happy to read this; my daughter also switched from finance to accounting. Entering junior year. |
Anonymous
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I work in the public sector. Many government entities are increasingly having to delay the release of their audits because there aren't enough accountants to audit them.
I believe the industry has realized some of the barriers they have set up to becoming a CPA are illogical and they are discussing revisions. Accountants will still be needed. |
Anonymous
And some of you haven't been paying attention at all. |
Anonymous
The kinks will get worked out very quickly. That's the hallmark of AI. |
Anonymous
You have to believe this or you will get depressed. Before the Internet, there were no web designers or SEOs or Netflix, Meta, Google et al. At the same time, the number of travel agents declined 95%…yet unemployment is still just 4.2%. |
Anonymous
| I work in Finance FP&A and a lot of CFOs have an accounting degree rather than finance degree or mba. Even if accounting tasks like posting JEs etc are outsourced, understanding the fundamentals of the financial statements is crucial to making sound business decisions. CFOs who don't understand this or don't have a strong controller to lean on, do not do well. I have a finance MBA but if i could do it again, i would have gotten a cpa. One less year of school and for me, but ending in the same place. I an encouraging one of my kids to do accounting and marketing. He is very outgoing but also enjoys business math. Social skills + Accounting = competitive combination. |
Anonymous
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