Page 39 - CMA Journal (Nov-Dec 2024)

Focus Section

The demand for accountants will not decrease, as they can high implementation costs, lengthy procedures, and
work as consultants to implement blockchain technology complex software (ERP) issues. Most accountants are not
in organizations while ensuring accountability and familiar with the latest technology due to a lack of
transparency. training opportunities or the inability of educational
institutions to provide modern educational facilities
In other words, blockchain can reduce manual errors, available in developed countries. High training costs are
increase efficiency and progress, improve transparency also a major hurdle in the implementation of digital skills.
and accountability, and free up organizational resources
for management and accountants to focus on more In the 21st century, despite these hurdles, it is essential
strategic and value-added activities. for accountants to learn the latest technological changes
Artificial Intelligence Technology required to thrive in the modern business world and
secure their positions. A well-trained and up-to-date
Artificial Intelligence (AI) technology can improve the accountant can build a strong bond with their
efficiency of accountants by automating accounting organization by performing work efficiently and driving
systems and forecasting budgets and financial planning. the organization toward a competitive advantage. In this
Today, businesses focus on cost reduction, customer regard, business organizations should arrange training
service improvement, and better capacity building. AI is programs or workshops for their accounting staff.
becoming increasingly attractive to businesses in the References
modern era. AI tools enable accountants to perform
accounting operations more efficiently and accurately. AI Strategies to Improve Digital Skills for Accountants; Journal of Finance
helps perform financial data analysis using spreadsheet and Accountancy, Vol 32
software to provide financial trends and reports to Cloud Accounting: A Theoretical Overview by Musammat Tahmina
strategic decision–makers. Accountants can improve Khanom; Article in IOSR Journal of Business and Management •
their digital skills by taking workshops and short courses, Volume 19, Issue 6. Ver. V (June 2017)
as it is essential to stay up to date with modern Essential digital skills accountants need in 2024; by Kaci Carson
technologies and the latest tools used in business. January 14, 2024
Digital Communication https://amaka.com/article/essential-digital-skills-accountants-need-i
n-2024/
Digital communication skills are widely used by
THE USE OF ROBOTIC PROCESS AUTOMATION IN ACCOUNTING by
accountants since businesses have adopted the digital Hulya BOYDAS HAZAR and
world. These skills gained special attention during the
Can TOPLU; Prizren Social Science Journal Vol-7, Issue-3,
COVID-19 pandemic when remote work and
September-December 2023
work-from-home became necessary. During that time,
accountants were required to communicate internally Research on Digital Skills that Accountants Should Possess in the
Intelligent Era by Yaoteng Zhao; Modern Economics & Management
and externally via Zoom or Microsoft Teams. Accountants
Forum Vol 2 Issue 4 2021
should familiarize themselves with communication tools
such as Zoom, Skype, Google Meet, Microsoft Teams, and BLOCKCHAIN AND ITS IMPLICATIONS IN ACCOUNTING AND AUDITING
by S.Jayalakshmi International Journal of Humanities & social Science
Google Workspace to effectively share financial data
studies (IJHSSS) • February 2024
analysis and reports with top management or clients
using graphs, charts, and other formats for better BLOCKCHAIN TECHNOLOGY FOR ACCOUNTING AND GOVERNMENT
decision-making. Accountants should also be familiar Jana Schmitz, Policy Researcher, Policy & Advocacy, CPA Australia
with project management tools like Basecamp, Trello, The Importance of Digital Skills for Accountants in 2025; by Azeem
and Asana. For digital presentations, PowerPoint, Prezi, Haider Nov 2 2024; https://www.linkedin.com/pulse/importance
and Google Slides are essential tools for a professional -digital- skills-accountants-2025-azeem-haider-xpxle
accountant. The Influence of Technological Knowledge and Digital Skills on
Accounting Students' Readiness to Face Artificial Intelligence
During COVID-19, webinar hosting skills were Technology by Siti Manira and Lukman Effendy; International Journal
highlighted for organizing informative sessions with of Management, Accounting and Economics; Volume 11, Issue 5, May
large numbers of people. Therefore, accountants should 2024 https://www.ijmae.com/article_196328_eff3158ed5638cabe
receive training in webinar hosting. 979b6baee0210d5.pdf
Conclusion About Author: Muhammad Tanveer ul Qamar ACMA is an
entrepreneur and running management accountant firm (CEO at
Allied Financials). He has diversified experience in services like,
Most business managers agree that learning, adoption,
financial & tax consultancy, corporate services, and real estate
and implementation of digital skills present many
investment advisory. He has also experience in providing freelancing
challenges. Major problems include resistance to change, services for financial reporting and management accounting.

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