|Abstract:||This master's thesis presents a view on the future of an accountant's profession and the factors that will change this profession.
Accounting has changed a lot in recent years, and it is changing even faster with new technologies. This has brought certain advantages to accounting and positive changes.
Business processes in companies are increasingly technologically advanced, new technologies allow us many things, and due to the fact that accounting is closely linked to all processes in a company, it had to adapt to novelties. The systems are increasingly automated, digitised, which saves time, reduces errors, increases productivity and efficiency in business processes. The expectations of owners and managers in companies, who want information about operations that used to be annual, semi-annual, quarterly, monthly in the past, which is not enough nowadays, have also increased, and it will be necessary to switch to real-time accounting when important information is already available on a weekly or daily basis.
With such expectations, the accounting profession changes greatly and requires accountants to adapt to this, as otherwise they risk their very existence. Accountants will have to become increasingly familiar with information technology as they participate in the creation of new intelligent, automated accounting systems. Once the accounting information systems are highly digitised, there will be no more tedious recurring event tasks as the system will be automated, but additional internal controls will be required to eliminate errors and correct the setting if the system commits a mistake.
The profession of accountant will certainly change considerably in the future. Artificial intelligence will have a major impact on the development of accounting profession. Although some predict that accountants will be replaced by artificial intelligence, this is not entirely the case. Many tasks will be performed by the AI instead of accountants, but AI will not be able to conduct consultative interviews, interpret legislation, etc.
Accountants will become more similar to consultants, analysts, they will be more involved in business, they will provide real-time information to managers. If in the past accountants used to use old numbers that are no longer current, this is no longer the case.|