Here's how you can navigate the future challenges of corporate accounting.

Les défis futurs dans la comptabilité seront relèves en s'appuyant sur des technologies innovantes et adaptés à l'entreprise, d'où les logiciels et les outils doivent être les plus pertinents et l'utilisation de l'IA serait un atout, l'intelligence artificielle avec une formation de base pour une maitrise des outils. Il serait aussi judicieux une bonne compréhension des lois en respectant les conformités et règles établies pour chaque entreprise. Aussi établir des contr?les internes solides pouvant être des alertes et des mises en garde pour l'entreprise

Unlike the past, today not only accounting but any job profile requires you to stay equally updated with the technology front. How fast you update yourself with these skills plays an important role in your long term growth and success.

Stay Updated with Regulatory Changes, Develop Analytical Skills. Cultivate soft skills such as communication, collaboration, and leadership to effectively interact with cross-functional teams, stakeholders, and clients. As businesses evolve and adopt new business models such as subscription-based services, e-commerce, and digital platforms, adapt your accounting practices to accommodate these changes. Stay agile and flexible to adapt to changing market dynamics, economic conditions, and business disruptions.

Learn Microsoft Excel. It is essential to accounting. Quickbooks, or point of sale software is a great management tool. But always keep records. The best bookkeepers and accountants are well organized and keep excellent records.

Navigating the future of corporate accounting means embracing AI. While AI might soon handle many accounting tasks, this opens up opportunities to use AI wisely. One key skill is ensuring we input accurate data—remember, "garbage in, garbage out." We need to become good at feeding precise information into AI systems and validating their outputs to make sure they're correct. It's also important to help AI learn by updating and refining the data it uses. This means understanding different accounting scenarios and explaining them clearly so both humans and AI systems can grasp them. In short, the future of accounting will mix traditional skills with new abilities in using and improving AI, leading to smarter, more efficient practices.

A solid understanding of the law to ensure compliance with evolving regulations, manage risks, and uphold ethical standards. As regulations in laws become more complex and stringent, accountants must stay informed about legal changes to maintain accurate financial reporting and prevent legal issues. This knowledge helps in implementing effective internal controls, conducting thorough audits, and ensuring transparency in financial disclosures. Additionally, understanding the law aids in interpreting contractual obligations, managing mergers and acquisitions, and handling disputes or litigations.

Establishing a risk management policy and implementing a suitable risk management framework will prevent the potential financial risk . There can be different types of financial risk such as liquidity risk , commodity risk , currency risk , credit risk and interest rate risk . 5 key steps of risk management process 1. Identifying the risk 2. Analysing the risk . 3. Evaluating the risk 4. treating the risk 5. Monitoring and reviewing the risk. Continuesly improve risk management procedures to prevent potential risk from affecting the sustainability of the organization. well established internal control system is a must for the effective risk management. For example segregation of duties for the payment process will prevent frauds.

The accounting industry must be having a very difficult time drawing new people into the profession, because I see several posts on Linked In every day asking me questions about the profession. I'm not an accountant; I'm a lawyer.