You’re struggling to keep up with the latest accounting trends. How can you stay ahead of the curve?

I can see in the future that two types of accountants are going to survive: The policy people and those who know how to use the technology to its fullest extent. New accountants need to dive in deep into the business systems their companies use. Don't just know enough to use it for your current assignment, become a power user. The same for your office technology suite, data mining tools, etc. If asked to participate in a system implementation, go for it.

With the huge ammount of real-time information available and the rise of content creators even in the finance and accounting domain, be up to date and understanding the latest accounting developments has become more accessible than ever. You can even leverage on the Generative AI to request explanations of the latest accounting developments in a clear and concise way.

The world of accounting is constantly evolving, so here are some strategies to help stay ahead of the curve: 1- Try to stay up to date on the latest accounting software. 2- Follow industry publications, blogs and podcasts as they provide many updates on the latest accounting trends. 3- Follow up on continuing professional education courses 4- Connect with other accountants to share knowledge and ask questions. 5- Consider specializing in a specific field of accounting. This allows you to become a valuable resource for clients. 6- Focus on developing your soft skills. By following these tips, you can stay up to date with the latest. accounting trends and technologies.

I participate in a number of industrial and professional associations such as the Institute of Management Accountants, Aerospace Industry Association's Cost Principles Committee, Financial Executives International, and the National Contract Management Association. The meetings and conferences are great to get up to date insights as to what is currently happening in the profession. Other associations I recommend are the American Institute of Certified Public Accountants, National Defense Industry Association, and Internal Audit Association. All are rich with continuing learning materials and classes. The relationships built from my association with them have been most valuable.

I'm fortunate in that one of my top strengths is learner. I've always read new books, taken new classes, pursued certifications that forced me to seek continuing professional education credits through taking or teaching classes. I've also been fortunate to have worked for companies that have supported my continuous learning with financial support or offering actual courses or requiring reading of various books. I also recommend that people give back from teaching. It's surprising how much you can learn by preparing for or actually teaching others.

One of the advantages of industry associations is the ability to collaborate with other practitioners in other companies without violating anti-trust laws. Through the industry sponsorship we have been able to share and receive information on current issues, provide and receive advice for problems, benchmark on certain matters, and respond to proposed and interim regulatory changes. Within my company (and other companies I've been with) management often charters improvement teams. These teams are chartered with solving a problem or figure out how to implement a new rule or regulation. Lastly, you can work with your customers on problems and new stuff.