Future accountanting major here. Is the future of automation going to make my degree worthless?
Future finance major also wondering about this
Google tells me that about half of a financial analyst's job is to pretend he knows what he's doing so it's reasonably safe, as long as you can convince people you're worth keeping around
The other half (or the same half, really) is interpretation, which machines are still pretty awful at.
If someone can tell me how accurate this is that would be great
Ethereum and the blockchain will make accounting redundant. Sorry.
Nope.
Automation only makes your job easier.
Computers will not(in the foreseeable future) be able to understand complex tax laws and intricacies.
It might though in 50 years. We never know what kind of technology there will be, but with that logic anything can be automated.
>>1132577
Take out "ethereum and" and you would be correct.
>>1132578
In the not too distant future complex tax laws will be written in computer code in the form of a smart contract.
>>1132587
Oh cool. You heard about Codius too?
>>1132590
Yeah its something failed cryptocurrency ripple tried to do to make itself relevant. Failed though.
>>1132599
This. Ethereum and Ripple are fail. They are both centralised premine scam coins. If smart contracts ever take off it won't be from either of these shitcoins.
Cpa here. I full time automate basic accounting processes. You will make bank if you are comfortable with SQL and VBA.
>worrying about automation
NEETs don't have this problem
>>1132604
Shows how much you know.
>>1132548
Even if it does I imagine the technology will be implemented by larger companies. You would be amazed at how many small business owners know nothing about accounting and won't trust or want to spend the money on automation. I think you're safe.
>>1132548
>accountanting
Yeah you're a fucking retard who isn't gonna pass the CPA exam
>>1132548
no you and 10,000 other grads/day with CPAs will all find jobs
>>1133816
Please stop posting pictures from Google headquarters. This triggers me.
;)
>>1133606
can you explain how you combined the two? CPA here who wants to do the same
Depends what type of accounting you want to do.
Tax accounting is getting automated.
Managerial accounting is getting automated.
Public accounting is not getting automated. Someone needs to provide assurance on financials.
Nice Jew meme fucking retard
>>1132578
The problem is that computers don't need to understand it all to make an impact. It's already happening in law, contract generation software is leaving tons of lawyers unemployed. An easier job means fewer accountants are needed.
>>1132578
>computers cant understand tax
Turbotax lol
If you do a JD and a CPA, you're secured for the future.
Anyways, there's a load of multinational corporations who set up multiple leasing agreements to reduce the cost of products. Leasing allows for tax deductions for every company involved.
Same as setting up tax shelters
