what do they mean when they say that accounting will be completely automated? Accounting/administration/consultant careers are worthless now?
>>1246824
I hope not. Accounting is the one thing I see myself majoring in
>>1246824
Only reason it exists is because stupid IRS laws. It doesn't generate much if any income for companies.
Why aren't you in fintech is the better question, though.
>>1246824
Billing/Accounting/other paperwork software makes the job a breeze. So instead of having 1+ accountant per company you'll have freelance accountants and companies offering their services to dozens of businesses as needed, sort of like lawyers.
CRMs have practically replaced most managerial accountants in terms of fighting the profit margin
>>1246880
Don't let automation scare you. Accounting is the language of business and you can do nearly anything business related with it. Just cause you major in accounting doesn't mean you'll be an accountant
>>1246905
What about auditing?
Budgeting & forecasting?
Mergers and Acquisitions?
Financial Reporting?
All of these are aspects of accounting and don't involve any tax which people can get jobs in.
As long as their is an SEC, publicly listed companies will need to have someone to maintain the accounts to a strict criteria.
Sure... parts of it could be automated, but sometimes accounting language is not as rigid as computer programming.
Accounting standards will always change, and accountants will always be their to interpret it in the best way it can for the business they work for.
I don't see accounting being automated in the near future... at least not all of it
>mfw OP thinks accounting = bookkeeping
It's already pretty much automated, all the data is entered into software and then the software spits out the forms to be sent to the IRS.
So assuming you could create a bot that could ask (and respond to) all the right questions for the client, then you could completely automate accounting.
This is still prob 10 years off though, so I'd say accountants are gonna keep making money for a while.
CPA here working in process automation. The low level bookkeeping is getting automated but real world accounting is far too messy and unpredictable to be handled with just code.
>>1247768
Non accounting major here, what does higher level accounting entail, and what kind of software is used? Is it specialized to the point where one would need a bachelors to be able to do?
I'm an accountant. Most of my job is automated, I need more of it to be automated so I can do more work. The reality is if you're a fucking retard with no education you wont have a job because all you can do is bookkeeping. At my work right now we're actually in the middle of designing a literal robot to do a large chunk of our Friday work so it can free up resources.
>>1247862
so accounting majors are a safe spot?
i took two accounting classes
this shit can probably be automated really easily
>>1247846
It's basically nothing like what you think it is
Audit graduate here
And trust me my job is people, reading and explaining
Ive never in my career created books for someone or something menial like that.
Accounting is the language of business and the ladder to management
>>1248112
1st year accounting subjects are just bookkeeping m8
>>1248107
Depends how smart you are.
Accounting is like most people have said a language. You learn it and when you understand it is when you're useful to a company.
