What do you do if your Corporate Accounting skills are becoming outdated?

Lifelong learning is an important principle for all professionals and here are a lot of short courses available. Most professional bodies offer them to their members and the public. I always recommend one (from a reputable institution) with a competency exam and a certificate, because you need to be able to prove how competent or up to date you are in an interview setting or a skills audit.

Upskill, pivot and consistently reinvent yourself. Never remain static. You will become extinct as the dinosaurs became easily ??

Be a sponge. Actively search out relevant courses, appropriate cpd, software demos, training courses. Be around your peers, what are they doing and how are they doing it. You don't need to be left behind if you are making active moves towards the change not away from it.

Upskilling is essential to stay relevant in the ever-evolving field of Corporate Accounting. Enrolling in courses, workshops, or certifications to enhance your knowledge and proficiency in areas where you feel your skills are becoming outdated is the best

To remain relevant and up my skills I usually attend ACCA provided CPD courses. At work, I attended an IPSAS course to ensure that my skills remain in line with the current trends per requirements of my organization that required immediate IPSAS roll out and implementation road map. I also undertook a free Data Analytics course offered by Google. There is also need to keep in sync with industrial trends and news as they assist in articulating real case scenarios. Networking with professionals in the accounting field is paramount as this will allow the sharing of real life experiences. Also, as we climb the corporate larder, look for an experienced mentor to provide guidance and support on ways to remain relevant and updating your skills.

Technology has evolved it is also important to embrace these changes. You should be willing to learn. That way you can get the skills. It will not ne an easy raod as the new technology has new features. It is also important to have peoywho have the know how to be teaching you these new ways.

Prioritizing ongoing education and career advancement is crucial if company accounting expertise is fading. To keep up with industry developments and best practices, one might do this by looking for training courses, workshops, or certifications. It can be advantageous to take online courses or go to seminars about new accounting laws and technologies.Networking with colleagues and industry mentors can also offer insightful information and chances to advance one's skills. Maintaining professional competence and staying relevant in the quickly changing accounting scene are ensured by taking proactive measures to update skills and knowledge.

A lot of times, accountants tend to focus only on their function and do not develop an understanding of the business they are operating in. By developing a broad view of how the business operations work, they can better understand the needs of their stakeholders, which will allow them to develop their skills and present their product in a way which is more beneficial to the stakeholders. This will upskill them, as well as give value addition to the organisation.

Traditional corporate accounting serves as a foundation for financial reporting and compliance, its evolution is essential to support strategic thinking within organizations. By shifting towards more analytical, forward-looking practices that integrate both financial and non-financial data, accounting can play a critical role in driving strategic decision-making and ultimately enhancing organizational performance and competitiveness.

Corporate accounting is strategic. You need to ensures that your thought process is is foward looking and ensures goal congruence of the organisation.

A motor is important to assist you with the learning process. They have walked the path and have the knowledge to impart on you. A mentor helps you with crafting your developmental program. That way you can have a directed career review.

Recently I needed to talk about whether blockchain can reduce corporate governance issues caused by fraud. With reference to an article on LinkedIn, both accounting and audit were considered. The noticeable feature of blockchain that can be applied readily is the convenience of transaction authentication. This eradicates fictitious records (record without real transactions / no flow of money). Tracking ownership of assets can be easy too. Blockchain technology may improve automation in audit, even though audit software has been in place for a long time. Overall, if audit is better, corporate governance is better.

You need yo have the correct attitude during the process of developing yourself. That way you will be able to embrace the new skills and being able implement them.